Kevin Rudd is telling us he has found a 10 billion black hole in Abbott's costings.

He assures everyone he can do better than that.

He has already built a three hundred billion black hole on the countries finances, & he's sure to generate another couple of hundred billion more, if we give him another 3 years to do it.

Yep he can out do Abbott at wasting our money any time.

Well Haz, it appears that Rudd’s goose is cooked. So we are about to get three years of the babbling Abbott rabble, constantly telling us what they are going to do, and constantly changing what they are saying as it becomes evident, time and time again, that they can’t do these things as simply as they would like, or within the costing limitations that they have declared!

I bet that in three years time we will find that they are no better than Labor at all!

The only solace that I get out of this is that….. hopefully….. SURELY, by then, the good people of Australia will have realised how essential it is for us to embrace a paradigm of sustainability, and that Labor will have learned its lesson, prepared well, and be sitting pretty to undertake this task.

Folks,
I actually work for the Abbott team and I know (like the bookies) he will win. This is only my opinion but I feel that the first policy change will be to increase the GST despite promises to the contrary. If there is a senate block he will call a double dissolution and pass the problem/guilt onto the people. If he loses this the pity help the economy. The black holes will swallow the country.

The Economist:

http://www.economist.com/news/leaders/21584343-kevin-rudd-just-about-deserves-second-turn-lucky-no-more?fsrc=scn/tw_ec/lucky_no_more

"The choice between a man with a defective manifesto and one with a defective personality is not appealing—but Mr Rudd gets our vote...."

Hasbeen and Ludwig,
Pity that neither of you understand updated Keynesian theory.

A sovereign government, a government that issues a currency, can never go broke in the currency it issues.

In the current situation, where the prediction is that unemployment is rising, the Federal Government should be employing people and available materials to build needed infrastructure. The reduced unemployment outlays and increase in profits of those businesses supplying materials will tend to move the budget in the surplus direction.

There is no need for the government to owe the money to anyone other than the Reserve Bank which it owns and at the end of each infrastructure project the citizens, through their government owns a new asset.

Please read J D Alt's article at New Economic Perspectives about how well the USA emerged form WW2 by employing people, and paying for labour and materials by running deficits, to expand and utilise the country's productive capabilities. Once the USA emerged from that war Truman and Eisenhower put that massive capacity to work restoring Western Europe under the Marshall Plan.

chrisgaff1000,

So you << actually work for the Abbott team >>?

What as?

I don’t think Abbott would be very happy with your divisive comments about the GST so I’ve just forwarded your post to Abbott’s COS.

Keep your head down buddy, I don’t think you will be working for Abbott much longer.

Time to change your “handle”. Could I suggest “chris gaff 1001”?

What campus are you sitting on Foyle. Your theory obviously works well on a blackboard, or whatever ludicrously expensive substitute for a black board is used in our citadels of confused learning today, but it has not stopped us running up 300 billion in debt. Have you thought that perhaps you should be lecturing your mates in Canberra on this lovely theory?

Unlike you & them, I only look at facts. Your example of in house spending by the US does not apply in Oz today, but our interest bill is very convincing.

Luddy old mate, I'm sure you know the old one about that thing that looks like a duck, walks like a duck & quacks.

Well mate, for someone who is not rusted on, you are sounding pretty duck like in your recent posts. A rusty duck in fact.

I still have hope that your basic high intelligence will help you to see the light some time soon, it is a pity to see you stumbling around in the undergrowth, when you could be enjoying the clear path to the light, like us smart ones.

You should be cheering for an Abbott victory. You have more chance of getting your ideas through to a bloke like Abbott, who has at least some principles, than a straight vote buying slob, like the accursed KRudd.

Foyle, what is ‘updated Keynesian theory’? How does this differ from Keynes’ original theory? What did he get wrong that needed updating?

<< In the current situation, where the prediction is that unemployment is rising, the Federal Government should be employing people and available materials to build needed infrastructure. The reduced unemployment outlays and increase in profits of those businesses supplying materials will tend to move the budget in the surplus direction. >>

But isn’t the government ALWAYS putting a great deal of effort and hence employment into building much-needed infrastructure (and services)?

Heaven knows, the demand for all of this doesn’t lessen with time. In fact, the demand is always greater than out capacity to both supply new stuff and keep the existing stuff from being degraded, let alone steadily improved!

I put it to you that what government needs to do is address this constantly increasing demand factor.

Keynes seemed to very mindful of the demand side of the whole economic picture. Well… of course he was. It would have been nonsensical not to have been! But I see scant little interest in it amongst our so-called professional economists and our politicians!

I would suggest that the core of the whole budgetary problem, that both Labor and the Coalition are having, is due first and foremostly to the rapidly increasing demand for everything wrought upon us by governments of both persuasions that insist on keeping population growth high.

Like I said,2 threads down, Rudd, Bowen and Wong have been exposed lying about a $10 billion hole in the coalition figures. The heads of Treasury and of Finance issued a statement denying they did the sums. Looks like Labor is deliberately lying or is totally incompetent with financial matters.

Labor again trying to hoodwink the Australian public.

http://video.heraldsun.com.au/2403565721/Swing-against-ALP-worse-in-west-Sydney

<< Well mate, for someone who is not rusted on, you are sounding pretty duck like in your recent posts. A rusty duck in fact. >>

Haaaa hahaaa Hazza! Only if you do some very selective reading of my posts would you come to this conclusion!

<< You should be cheering for an Abbott victory >>

Er….. so who is really rusted on here….. hmmmmm?

I favour Labor over the Coalition…. by the skin of my teeth! I certainly wouldn’t be cheering if Labor pulled off a win. They both atrocious options.

But I would most definitely be cheering very loudly if Rudd lost his seat!!

Foyle>>Please read J D Alt's article at New Economic Perspectives about how well the USA emerged form WW2 by employing people, and paying for labour and materials by running deficits, to expand and utilise the country's productive capabilities. Once the USA emerged from that war Truman and Eisenhower put that massive capacity to work restoring Western Europe under the Marshall Plan.<<

Foyle old fruit, you can’t use the example above as a strategy to re industrialize the First World.

The government can borrow until the cows come home but manufacturing cost in the first world coupled with a tariff less Global Economy decrees failure.

The only way back for First World nations is to impose tariffs and then invest in local manufacturing.

Anything else is a waste of time, incuding anything that comes from the IMF subjugated "theoretic global economists."

Chris>> I actually work for the Abbott team and I know (like the bookies) he will win. This is only my opinion but I feel that the first policy change will be to increase the GST despite promises to the contrary. If there is a senate block he will call a double dissolution and pass the problem/guilt onto the people. If he loses this the pity help the economy. The black holes will swallow the country.<<

Yes Chris with insiders like you who needs an opposition....Your name is not Chris Slipper by chance sport?...lol

Ludwig>> But I would most definitely be cheering very loudly if Rudd lost his seat!!<<

Not fair Luddy, you can't get two wishes in one year.....Gillard and Kevin.

Don't worry folks Abbott will win and the blood bath will not be nice. Kevin will go down in history as the most spiteful PM the country has had.