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Obama and Rudd in the Same Boat on Economies

Discussion in 'The Economy' started by Tropo, 13th Mar, 2009.

  1. Tropo

    Tropo Well-Known Member

    17th Aug, 2005

    Prime Minister of Australia, Kevin Rudd, made headlines the beginning of last month ahead of the release of his prepared essay regarding the global financial situation.
    His solution is a new world order, whatever that means. Included in that piece is this:
    "Neo-liberalism and the free-market fundamentalism it has produced has been revealed as little more than personal greed dressed up as an economic philosophy. And, ironically, it now falls to social democracy to prevent liberal capitalism from cannibalising itself."
    Rudd also proposes ...
    “A system of open markets, unambiguously regulated by an activist state, and one in which the state intervenes to reduce the greater inequalities that competitive markets will inevitably generate.”

    Our response to this mindset…Scary and sickening!

    Obama and Rudd in the Same Boat on Economies

    Australia – a country made famous to the United States thanks to Outback Steakhouse, Foster’s beer and the Crocodile Hunter…and of course, The Black Swan.
    Beyond my research on Australia’s economy (as it pertains to the markets), I can’t claim any other awareness of the land down under. But Barack Obama and Prime Minister Kevin Rudd are seeing to it that Americans and Australians become accustomed to similar styles of government.
    In comparing two stories this morning on Australia’s employment and jobless situation, Mr. Rudd’s approach becomes fairly clear.
    On the one hand, we’ve got a news story citing no Official (with a capital ‘O’) opinion on the matter except the source of the data that had been released. From that article we gather two things:
    1) The jobless rate in Australia increased.
    2) Australia added jobs for a second straight month in February.
    Sounds contradictory, for sure, so the article shuffled through other numbers to show full-time job losses versus part-time job additions, rising unemployment rate, etc.
    The tone of the article was balanced, ultimately showing that Australia is experiencing economic instability, but the employment outlook is not yet calamitous.
    On the other hand, we’ve got a news story that’s heavy on the words of Prime Minister Rudd.
    The article is aimed at discussing the same employment data that’s just been released. But from this article we gather three things:
    1) The jobless rate in Australia hit a four-year high.
    2) An “economic cyclone” is crossing through Australia.
    3) The government-led $42 billion stimulus package was justified.

    Thing #1 cannot be denied.
    Thing #2, while we feel Australia’s growth picture further deteriorates from here, Mr. Rudd was just dishing out sound bites to excite the media attention.
    Thing #3, while it’s tough to say if any of these stimulus packages are justified, follows unsurprisingly the general economic perspective of elected officials.
    For Australia’s sake, we hope Mr. Rudd is right that $42 billion of government spending was justified; we wouldn’t want to see his decisions fail. Nevertheless, my point here is that government officials around the world can make this game of analysis all the more complex.
    In this case, we think Mr. Rudd is fairly accurate with his expectations for global economic developments to negatively impact Australia going forward.

    However we’re not itching to jump in the boat of socialism of which he seems to think he’s been made captain (see ‘Quotable’ section above).
    That just goes to show you how much this type of commentary goes towards the agenda.
    As Mrs. Hillary Clinton reminded us the other day while speaking in Europe, never waste a good crisis.

    J.R. Crooks, LLC
  2. Chris C

    Chris C Well-Known Member

    2nd Apr, 2008
    Brisbane, QLD
    Those three words mean A LOT to any conspiracy theorist! They are a very scary three words indeed.

    I'd rather have society fall on its ass from time to time than live in a communist society where I serve the elite, because that is the really what he's "regulated by and activist state" means. Government has proven over and over again, even with this crisis that it is completely inadequate are "intervenes to reduce inequalities"

    They better believe it, this is the primary reason I'm going to go get my gun license and a gun.

    Comments like that make it sound as if major events are orchestrated and planned for tools of political persuasion rather than "no one saw this coming".
  3. try anything once

    try anything once Well-Known Member

    8th Oct, 2008
    I may not agree with the amount of money you've made but I'll defend to the death your right to make it....... and lose it.... and make it again ..."