rehctub,

"As long as the threat of a return to a union puppet party like labour exists, confidence from big players to invest billions will remain low."

It's got nothing to do with the threat of any incoming Labor govt - and everything to do with the LNP govt elected in September 2013.

Private sector business investment is down 24% since the election.

It rose 66% under the previous (Gillard) govt.

Explain that?

one word Poirot, MINING.

No doubt you were one of those who continually banged on about what little effect mining had on employment in this country.

I locked horns often with posters who continually claimed that mining employed less than 9% of the workforce, yet they either ignorantly, or arrogantly ignored the jobs that mining created indirectly, and many of those jobs are now gone due to the mining retraction.

Jobs from high end executives, to those who cleaned the houses miners lived in, thousands gone.

People also bang on about the increased debt incurred under the Abbott/Turnbul government, yet either ignorantly, or arrogantly ignore the fact that much of that spending is due to pre committed UNAFORDABLE spending left behind by the incompetent Rudd/Gillard/Rudd/Green/Independent alliance.
These incompetent fools were hopelessly floundering from one stuff up to the next, all of which occurred during the greatest mining boom in modern day times, all wasted and some. In fact, try to imagine where we would be had these fools been in power, having inherited mass debt, and hugely decreased revenues. Broke!

Part of me would like to see labor return so they can finish the job they started and completely ruin this country. At least then we can start afresh and take an axe to the ridiculous hand out brigade as those who refuse to work, often due to some lame arse excuse can spend their time in soup kitchen lines, rather than avoiding the likes of cenerlink at any cost.

Welfare is killing us. A single mum I know, with a 3 YO and one at 4 months told me she is getting paid $750 per week NET. Some working full time jobs don't get that.

So perhaps we need to find the bottom before we can truly rebuild.

rehctub,

"These incompetent fools were hopelessly floundering from one stuff up to the next, all of which occurred during the greatest mining boom in modern day times, all wasted and some..."

If you wish to lecture others about politicians spraying the mining boom revenue up against the wall, you could be honest and start with the maestro, Peter Costello.

It was he as Treasurer who presided over the apex of the mining boom at a time when China was regularly spinning growth of 10%. He poured it all down the drain with vote-pulling middle-class welfare, selling govt assets, selling gold reserves - leaving us with the structural problem we're tussling with now...and all he could leave in the coffers was $20 billion....AND he had no global financial collapse to deal with.

I know you're really upset with Labor for the stimulus. You would have much preferred Australia to go thrashing down in a GFC-induced recession like most of the OECD did (sorry 'bout that)...we avoided a recession, but were left with some debt - which is a real shame for folks like you who love to whinge and moan about money.

Just think of the giant whinge you could have had if Labor had led us into a recession!

...and further, rehctub,

I do love the way you conservative commentators conveniently ignore the GFC when referencing Labor's debt.

But when it's put to you that the LNP have wrought further woe on the economy...all of sudden you're shrieking about the resource downturn.

Oh really, you mean outside influences affect the Oz economy - Golly!

Just as a recap, I'll reprise that info I gave you on the other thread:

From the time of the last election:

Net debt was: $175 billion
Net debt now: $274 billion

Gross debt was: $273 billion
Gross debt now: $409 billion

Net debt to GDP was: 10%
Net debt to GDP now: 16.9%

Wages growth was: 2.6%
Wages growth now: 2.3%

Govt spending was: 24.1% of GDP
Govt spending now: 25.9% of GDP

Unemployment was: 5.6%
Unemployment now: 6.0%

Poirot, it really is a waste of time talking to you because you only read what you want to.

I have stated many times over that the idea of the stimulus was not a problem, just the way it was incompetently delivered. In fact, here we are some 8 years post the GFC and we still don't have a government with enough balls to stop welfare waste. Why< because they all get to vote. Many contribute nothing, yet get to decide how best to contribute other peoples hard earned money.

The day someone grows enough balls to stop paying welfare via cash will be a major leap forward, waiting, waiting, waiting.

A typical example was Tony Abbott. He got in, threw out the ridiculous mining and carbon taxes, and stopped the boats. The trouble is he also spoke of welfare crackdown, as well as indenturing that remote communities with 6 residents was a life style choice, one that should not be paid for by the tax payer, or school leavers being made wait to receive the dole.

Down went his popularity and the rest is history.

His replacement is Rudd wearing different colours, only he is hiding behind his own money, not his wifes.

Welcome to the race to the bottom.

We can go on forever about who did what, or the mess Keating left Costello, but the fact is we have created a world where there are simply too few doing the heaving lifting and too many members of the entitlement brigade whereby no matter who is in nothing will change until we either see real tax reform (a new transaction tax is one such tax that should be modelled) or we find rock bottom and start again.

Im sure welfare recipients would prefer a restricted debit card than a cue at the soup kitchen which is where we are headed, especially if Bill gets his way an pushes rents through the roof.

rehctub,

"I have stated many times over that the idea of the stimulus was not a problem, just the way it was incompetently delivered..."

Oh I see you have a foot in both camps. You quite like that the stimulus stopped us going into a recession, kept us nicely scooting along while mostly other industrial countries were introducing austerity and going into recession, but you don't like that the lower orders were given the opportunity to spend to keep our business afloat.

Here's an idea - why don't you have a peek at what the UK has been doing. They've been slashing and burning all kinds of welfare, ramping it up in recent years - here's their debt to GDP:

http://www.ukpublicspending.co.uk/uk_national_debt_chart.html

"Public Debt in the United Kingdom is principally the debt of the central government.
In 2005 the UK National Debt was less that £0.5 trillion. But then came the worldwide financial crisis of 2008 and subsequent recession. The National Debt increased rapidly and went over £1 trillion in 2011. At the end of the 2015-16 fiscal year, the National Debt is expected to go over £1.5 trillion.
In terms of Gross Domestic Product the UK National Debt in 2005 was about 38 percent of GDP.

But in the last ten years, in the wake of the Crash of 2008 and subsequent recession, the National Debt has doubled to over 80 percent GDP, but shows signs of leveling out as a percent of GDP"

There's your fantastic idea demonstrated right before your eyes - a Conservative govt gutting UK welfare and going further into debt.

As a comparison, Australian debt to GDP in 2013 was 10%.

Now after 2 1/2 years LNP govt, who have slashed funding here, there and everywhere - it's nearly 17%

Oh and..." it really is a waste of time talking to you because you only read what you want to."

Lol! - there's the pot calling the kettle black.

As an economist, you make a great butcher...