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The Forum > General Discussion > One Year On, Was A Vote For ‘PUP’ Worth It?

One Year On, Was A Vote For ‘PUP’ Worth It?

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Shadow, you'll be even more stunned when you discover your own ignorance:
The RBA is not a commercial bank, it's a central bank.
Commercial banks borrow money and lend it out at a higher rate.
Central banks CREATE money and lend it out. Most of them (including RBA) also pay interest on money that commercial banks hold with them, to help control the amount of money in circulation.

"I don't have a problem with the RBA paying dividends, you are confusing me with someone else."
Really? Then who said:
"You mean the $8.5bn that Whine Swan pillaged from the working capital of the RBA in a vain attempt to present a surplus on paper. This going with attempts to defer payments and and push forward tax collections. All irresponsible actions from an incompetent treasurer"?
As he vainly chased surpluses and failed to prevent the RBA board from raising interest rates, I'm inclined to agree he was an incompetent treasurer. But there was absolutely nothing irresponsible about receiving dividends from the RBA.

"Anyone with a basic understanding of Keynesian economics would know that Keynes was an economic conservative, and whilst demonstrating the benefits of stimulus in a recession strongly advised against stimulus in times of growth."
Keynes started out as an economic conservative but became less so as his understanding grew. And of course he was not always right (advocating managed currency values when we now know it's much better to leave it to the markets). But I'm pretty sure that he didn't advocate immediate sudden withdrawal of stimulus as soon as it was shown to be working!

Inflation, growth, unemployment etc were indeed at normal levels. But that was because of government intervention. It would have taken a few years for the private sector to return to normal, and during that time the stimulus should be gradually reduced as the private sector expands. Stopping it abruptly will hinder, not help, the private sector's expansion.

As for the BER, it was excellent value in WA and good value in SA. Only in states where management was outsourced was it a failure.
Posted by Aidan, Wednesday, 19 November 2014 3:17:50 PM
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Aidan, someone stop the fight! This is obscene! Aidan please could you show Shadow some mercy, stop the logical argument, stop producing facts. Could you please just agree with the nonsense the lad puts forwards.
Shadow, where are you getting your economics from, your second form commerce book? That is understandable its where Cocky Joe gets his
Posted by Paul1405, Thursday, 20 November 2014 8:07:41 AM
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Pauline (I'm not a racists) Hanson is out to breath life into the ultra right One Nation Party, once again. You may have thought One Nation was well and truly dead and buried, not so it seems. Hanson wants to contest the 2015 Queensland state election. Based on the 2012 Queensland results where the party scored a "microdismal" 0.1% of the popular vote the only way for Hanson is up.
Yesterday Pauline latched onto the burning issues confronting Australia, not the least the eating of "halal", and her favorite of favorites "multiculturalism". I think she see them as related somewhat.
Who knows, Queensland Primer one day, Prime Minister the next. I would like to say good luck Pauline, but I can't.

Thought for the day! Prime Minister Pauline Hanson, Deputy PM Jacquie Lambie, its not a dream, its a nightmare!
Posted by Paul1405, Thursday, 20 November 2014 8:30:35 AM
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Come on Paul, compared to your harpies from the south, Pauline is all sweetness & light. She would certainly be much better for the average Ozzie, than the harpies.

Jacquie Lambie is from the same mould, if a little twisted that your harpies came from. She is certainly no worse than those two. In fact, she probably is less full of hate than either of them.
Posted by Hasbeen, Thursday, 20 November 2014 10:18:16 AM
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What is it with many Queenslanders and their overriding suspicion of anyone south of The Mason Dixon Line. I think they have long suffered from an inferiority complex, never seeing themselves as being able to match their fellow Australians living in the then more prosperous and dynamic states of New South Wales and Victoria. After all Queensland was long known as an economic, social and cultural backwater, famous for nothing more than banana bending and cane toads. Yes, big but inferior they did but see themselves.
On the political stage the Sunshine state has thrown up the oddest of odd-balls, not the least being the likes of Joh Bjelke Petersen, Russ Hinze and lately Clive Palmer and Pauline Hanson. Are these people simply a reflection of the Queensland persona? Sadly it may well be the case.
I will be in Queensland for a week from Saturday, can anyone advise as to precautions I should take before, and upon entering the state.
Posted by Paul1405, Thursday, 20 November 2014 4:22:05 PM
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Paul1405 - you'll have to reset your watch as Queensland operates its own clock. Not just daylight savings, there are a whole lot of things well behind the times here.
Posted by ConservativeHippie, Thursday, 20 November 2014 5:38:43 PM
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