Mr Right I have my doubts about whether the $10B handouts will be spent. When consumers turn negative they tend to save what they receive, no matter what.

Mr Rudd is showing is is no different from Mr Howard again. Mr Howard used the threat of terrorism to gain a political advantage and Mr Rudd is using the financial 'crisis' to his advantage. Unfortunatley the public only know as much on both issues as the press feed them (usually not accurate).

It is hillarous to listen to economist and financial commentators who are trying to tell the public what is going to happen in the future, If they were so clever they would of told people to move their money from super funds 6 months ago and yet many still listen to these soothsayers. They have a lot in common with the gw high priests who are only ever wise after the events and yet are so confident with their predictions before hand. Thankfully their is One who knows the future and He is our only sure bet.

Rudd did say over a week ago it was like a security crisis.
And Turnbull has said it is not and that Rudd is over stating it.
Quite simple really a bad read from Turnbull this is far from over a post above talks of housing over priced by 40%.
Well some will fall more.
Regards and grateful thanks to the poster who said Rudd the dud!
Polling shows a different story, soon Turnbull must come to understand he has to say things that win voters other than those welded to his side.
Tell those who have already lost so much this is no crisis.

TWO OBSERVATIONS.

1/ Australia seems rather insulated from the factors which caused the massive devaluation of houses in America..i.e.. sub standard lending practices. So...why panic?

2/ The handouts show how shallow so many of us are (those who suddenly declared Ruddish to be 'GOLD'(en Calf?) with his new approval rating) for the sake of a small bowl of porridge.

GrahamY,

When you say, "Mr Right I have my doubts about whether the $10B handouts will be spent. When consumers turn negative they tend to save what they receive, no matter what", I wonder if you are making a common mistake of assuming there is a single entity called 'consumers'?

There is no single category labelled 'consumers' just as there is no single phenomenon called 'the economy' and no single thing called 'the market'. They are all made up of a complexity of elements and components.

Rudd was shrewd to accept the advice obviously offered to him by analysts to make the handouts available to those most likely to need to spend quickly (although some pensioners will squirrel away their bonus, just as some eligible to buy their first home will still not be in a position to do so).

As a pensioner myself and having just come back from an expedition to Coles and Safeway (I go to both to buy up specials where I can) I know that I will be having a more relaxed time this Christmas than last year. Our grandchildren will get something better than last years' meagre Christmas box and it will be nice to go on a beach holiday for the first time in years.

And if there's anything left in the kitty I might look at upgrading my antiquated computer and get a printer that actually works.

So when you say consumers tend to save I think you need to differentiate among that large class of people. Save? Not me. I want to enjoy what little there is left on this planet. And I don't think I'm Joe Malone.

"A national security emergency"?

Yes... I would agree with Kevin.

When money systems fail people get sacked and personal debts do not get paid and many folk get displaced from their homes and rented premises and the attendant social problems cause the crime rates to skyrocket.
...and guess what?
There arent enough police to deal with this one rather large financial crisis.
No one in the West was ready.

This is not the 1930's when people had respect for others, when people went to church, when women and children get into the lifeboats first.

Its a time of high social rebellion at the end of a long prosperous period thats gone on since the late 1950's. People are too used to having it so good.

Who knows what Kevin has also been fed by intelligence organisations regarding the slip into global unrest/terrorism?

Look at the spread of wars and conflicts? Theyre coming closer and closer.
And we're not ready.

No.
I wont say Kevin is out of line with "a national security emergency".

Law and Orderwise...the world is falling to pieces.

We need to get ready.