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back to the old labor ways!

Discussion in 'The Economy' started by crc_error, 29th Sep, 2008.

  1. crc_error

    crc_error The Rule of 72

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    Well it took 10 years for Howard/Costello to pay off labor debt, and now kevin 747 is wanting to borrow money AGAIN 6 months into his reign. Did he not learn anything while in the US?

    PM Kevin Rudd ready to borrow cash | Business | News.com.au

    They can't help to pull out the credit card!

    Australia is in a great position to widthstand the international credit crunch because of nil governement debt, but now we are going to be put back on the chopping block.

    So what would K Rudd do if he Inherited debt from Costello? Would he just plundge into further debt?

    The government is loaded with cash, use cash and save up for projects.. dont put Australians into debt again..
     
  2. Billv

    Billv Getting there

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    I agree, and I am sure the private sector would be willing to contribute as well.

    Cheers
     
  3. eddyl

    eddyl Well-Known Member

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    Its quite strange how most people on this forum admit that debt is the only 'real' way to build wealth. But then are so critical of politicians when they borrow to make capital improvements.

    I thought if anyone, most people would have an understanding and debt is not always bad, especially when it is creating equity.
     
  4. crc_error

    crc_error The Rule of 72

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    Yeh, prehap's you should go and comfort the US financial system then..

    one reason our economy is so strong is because the government isn't in debt.. one reason householders are struggling is because they ARE in debt..

    China certainly isn't built on debt, and will be the next world power.. if it already isn't..
     
  5. Billv

    Billv Getting there

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    Only because it provides us with the opportunity to do things we couldn't otherwise do and also because of the gearing affect.

    In the case of this government though, thanks to the resources boom and to our previous government's massive debt reduction we now have the ability to do those things without debt and IMHO they should do their best not to go down the borrowing path...
     
  6. AsxBroker

    AsxBroker Well-Known Member

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    8th Sep, 2007
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    Location:
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    Hi CRC,

    You should sign up as a polly ;)
    Great perks!

    Cheers,

    Dan