Paul 1405 well said, SM be proud of being wrong, as usual.
For every one of the 360 degrees a thought on Rudd exists.
Therefor most must be wrong.
A man we will value in history far more than this chook pen of warn out Roosters we call Government today.
And far better than any faction Lord in my party will be seen in the full light of Labors membership driven reform.
Madam speaker let insults flow in a one way direction yesterday but it is her who must confront her own *NASTY PERSONALITY*each time she looks in the mirror.

Hasbeen,
You obviously think J M Keynes and Joan Robinson knew nothing about international economics and financial matters.

I tried to point you to some of the most competent up to date writing on economic matters. Everything posted at New Economic Perspectives is based on evidence available from analyses of actual events. I pointed to slides included in a presentation by a competent analyst. Your only defence was to change to other the subjects.

The stimulus packages of 2008-10 achieved what they set out to achieve, they stimulated the economy to rescue Australia from a looming jump in unemployment that was starting to arise due to the collapse of demand. That collapse arose because the members of the Private Sector started to see that they needed to repair their individual balance sheet. That need was due to the way the Howard and Costello had decided that they could reduce the Government Sector Deficit balance while running a persistent Current Account deficit.

It is now being widely accepted that an iron law of economics is that all three balances cannot simultaneous be in either surplus, or deficit, in any accounting period and that a variation in one sector must move at least one of the two other sectors in the opposite direction

Foyle,

As soon as I see a left whinger describe someone as Competent, I get suspicious that they are talking about an unknown that is trying to cloak left wing ideology in theory.

I went through some of the theory, (having a degree in economics) and almost immediately saw a hole you could float a ship through. SK's lecture revolves around the role of government expenditure in the growth of the economy. The singular missing point is that growth is generated mostly by the private sector, and the countries that do best are those with a light touch, providing regulation that is minimally burdensome, and services that are public goods in the strictest definition, whilst not getting involved in non public goods.

The kilometers of red tape generated by labor, and the burdensome regulation is largely at the heart of why the Australian economy is so sluggish.

Interesting to me who is no expert in formal economics.
However from other reading economists seem to think growth can go on
forever whereas it is declining almost everywhere.

A few economists, not related to Galileo, are convinced that we are
entering an era of zero growth and/or contraction.
The reasons they give seem reasonable to me.
ie rising energy costs and imminent decline in production.

Bazz growth must go on, as long as we are silly enough to keep increasing the population. More people must produce, & use more.

The most ridiculous thing in Oz today is that we have voted with our birth rate to hold or even reduce our population, but policy advisers & politicians want to second guess us, & keep immigration ridiculously high.

I don't know how we get rid of these people who some how become planners. I have yet to see any of them do anything that could be considered smart, so why do we have the twits?

Hasbeen you said;
Bazz growth must go on,

Well, must it ?
An increase in population will just mean that any pie will be cut into
more smaller pieces.
The "Big Australia" policy is nothing short of madness and indeed could
trigger a collapse of the Australian economy to the extent that the
government could not pay pensions and the dole. The public service
could not be paid and everything would be come very local in our local
communities and the highest level of effective government would be
the local councils.
You and I might not see it, but if governments do not take steps to
prepare the country it could happen before our children retire.