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The Forum > Article Comments > Iemma's power out > Comments

Iemma's power out : Comments

By Nicholas Gruen, published 11/9/2008

New South Wales: being debt free sounds terrific … until you ask the economists’ question 'at what cost?'

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Nothing like a few numbers to paint the picture clearly.
Posted by billie, Thursday, 11 September 2008 8:29:07 AM
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Good article

One thing Mr Gruen fails to mention though was how this approach was mirrored nationally. Remember the almost constant bragging during this period by Howard and Costello as to how they were reducing the Federal government debt to zero and how our lazy and compliant media were all too happy to portray this as 'good economic management'. As a result the last 12 years of economic good times has been completely wasted and we are now suffering from a total lack of serious investment in the country's future.

All recent Australian governments have been guilty of following the zero debt trend and it has done us no good at all.
Posted by Cazza, Thursday, 11 September 2008 10:53:32 AM
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A very helpful and informative article, but seriously marred with the claim:

"It would make sense to privatise electricity over time as part of this strategy of rebuilding public infrastructure."

I believe we desperately need to increase, and not reduce public ownership of necessary public services. To sell publicly owned infrastructure in order to fund ... publicly owned infrastructure, is ridiculous.

I think the profiteers have already stolen far too much of the public's wealth from past privatisations. It's long past time that a line in the sand was drawn.

Also, I take my hat off to Bolivia's Evo Morales who, as we speak, is in the process of renationalising telephone companies, water utlities, oil and gas companies which were previously privatised behind the backs of the Bolivian people.

Some other articles concerning electricity privatisation can be found at http://candobetter.org/NswElecticity
Posted by daggett, Thursday, 11 September 2008 11:55:41 AM
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Sorry, that should have been http://candobetter.org/NswElectricity

(At least, now that I have used up my two posts for the day, the rest of you will be spared from having to hear from me on this discussion for at least another 24 hours.)
Posted by daggett, Thursday, 11 September 2008 12:07:55 PM
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Nicholas,the cancer that afflicts NSW goes a lot deeper than Govts simply borrowing for essential infrastructure.Yes they should have done this decades ago,but our affliction runs a lot deeper.

The origins of our cancer begin with the legal disease.Govts no longer take responsibility.The NSW Govt have farmed everything out to private enterprise,yet do not have the nous or courage to effect contracts that are cost effective.Most Govt contracts cost at least 3 times that of the real world,because of their fear of litigation and the knots of regulation in which they tie themselves and private contractors in.The result is that we the tax payer get rorted by this system of impotence and indecision.

We have the most expensive Govt in the whole of Aust for the worst result.Our economy is in recession while the others grow.In Qld we are known as the "Nanny state."We are in both social and economic decay.

It is not just the pollies who are at fault but the PS who advises them.We have the most over regulated ,over taxed state in Aust .Business and people are deserting in droves with good reason.

Unless the hard decisions are made soon,we will be known as the "Rust Belt State."
Posted by Arjay, Thursday, 11 September 2008 8:29:32 PM
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Agree with Dagget - a gnerally good article, the only thing wrong is the claim that we need to sell public infrastructure in order to pay for public infrastructure. Would have thought that goes against the crux of what Nicholas is arguing.

Seriously, after 3 decades of such an outlook, how much longer can this last? The federal govt is now over 21 billion in the black - but is somehow too poor afford to put money into basic services and utilities. Open the door of the treasury and you will be instantly crushed by an avalanche of money. There has never been so much money - yet there is no money for the public good. If a govt with no debt and a 21 billion dollar surplus can't afford to invest in the nation's future, then when can they afford it? When the surplus hits 100 billion? A trillion? When?

Headlines this morning qoute Rudd as saying that we can't go back to the days of free university - surely an investment in the future if there ever was one. But somehow, he can afford to continue the Howard government model and grant more than .6 billion per annum to the more exclusive private schools in the country.

Grwing dissapointed Kevin!
Posted by Fozz, Friday, 12 September 2008 8:18:14 AM
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