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 When 2+2=7: just asking!

05.12.19. Three stories on the same front page of News Corp!

UPDATED:

1: “We’re in the black,” Josh chants! Josh Frydenberg has seized on a small rise in economic growth as evidence the government’s strategy is on track, but faces the challenge of sluggish consumer spending and a fall in business ­investment ahead of the mid-year economic statement.
2: An investment strike continues to stymie the economy as business seizes on the latest lacklustre growth figures to restate the case for governments to bring forward a national infrastructure plan. The economy grew by a slower-than-expected 0.4 per cent in the September quarter, according to GDP figures released on Wednesday by the ABS.
3: Australia’s sharemarket dived for a second day, government bond yields fell and the dollar turned down as worrisome signs for US trade policy fuelled risk aversion and safe-haven demand in global markets, and national accounts data showed the domestic economy remained weak.
4: Robert Gottliebson: The facts are clear. The Australian private sector is in recession and investment has been cut back. Consumers are being forced to increase their savings and so have reduced their spending in many areas. The economy achieves growth by exporting to China and government spending which is at record levels. For the most part the economic malaise has been caused by federal and state government politicians pandering to sectional interests.

{ 5 comments… add one }
  • Aktosplatz 05/12/2019, 6:45 am

    And here’s a 4th one:-

    A global study of more than half a million 15-year-olds has found Australian students lag 3.5 years behind their Chinese counterparts in maths — and their performance in all three major subjects is in long-term decline.

    Key points:

    The study assesses 600,000 15-year-olds from 79 countries every three years, comparing maths, reading and science performance
    In Australia, 740 schools and more than 14,000 students were assessed
    The study found Australian students’ reading, science and maths results were all in a long-term decline

    (I had to hold my nose and go to the ABC website to get this)

    • DT 05/12/2019, 8:02 am

      Don’t forget we had the great educator PM Gillard with Building The Education Revolution squandering of taxpayers monies, Gonski education grants to the teachers union, sorry, state governments for schools and money donated to the Clinton Foundation for UN based education purposes.

      What could have gone wrong?

      sarc.

    • Peter Sandery 05/12/2019, 8:49 am

      The fact of the Australian schooling curriculum being behind best international practice has been obvious for at least twenty years, particularly to those Australian Defence Force personnel who toured Butterworth and had their children educated in the international school there. My two granddaughters were in that category and were so far ahead of their Townsvillean age cohorts when they returned that their teachers ( at one of the more “successful” non-government schools) suggested that they jump a class or two. Fortunately, in my opinion they did not.
      Fast forward to 2009 when I was attending a Politics tutorial on policy at the James Cook Uni I gave the example of the education system as a failed policy, mentioned an example or two but was totally lambasted by the rest of the class, except for the tutor/lecturer who remained silent.
      Like so much other policy here in Australia – natural disaster relief, Veterans’ affairs, energy, telecommunications, agriculture and fishing and forestry, taxation reform, not tinkering – there have been enquiries but very little effective government action and what there has been of that – energy, water conservation and so called vegetation management as well as education, has been predicated on demonstrably shonky “science”.
      Despite all this we are far better off than any of those countries that experimented with Marxism/Socialism eg Argentina, who had a higher standard of living than us in the late 19th, early 20th centuries, Venezuela etc., but we are not holding our own and are slowly going down the road to failed state status.
      Perhaps I am completely wrong and “she’ll be roight, Mate”

  • DT 05/12/2019, 7:59 am

    What this nation needs is the billions of dollars of investment that Mr Mansion claims would flow into the economy if the government was doing more about a climate change emergency figment of manipulative imaginations.

    More wind and solar businesses and the resulting loss of many more businesses and related jobs replaced by green jobs. A ratio of 1 new job for every 1,000 or whatever jobs lost.

    Sarcasm.

    From a booming economy when the Howard Government left office in November 2007 with average GDP growth of 3.5 per cent a year to present 1.7 per cent.

    During a federal budget breakfast in Sydney during the Labor recession we had to have organised by one of the major accounting firms, circa 1990, a senior mining executive took off his suit coat and told the gathering that he wanted to talk about longer term national prosperity.

    He talked about the problems of native title, sacred sites and other political roadblocks discouraging foreign investment, that Australians did not have enough funds to replace foreign monies, and that we were facing a slow decline in new investment that for most Australians would not be obvious until in about ten years time the economy would slow and jobs would be lost.

    How many businesses and investment opportunities has Australia lost since the UN IPCC “Climate Change” Kyoto Agreement was signed leading to “greenhouse gas emissions” reduction programmes?

    One of the Howard Government emissions reduction trial programmes was a renewable energy target of about 3 per cent from memory. But Labor raised it closer to 30 per cent when they formed government, plus a carbon tax and a renewable surcharge, plus GST, on electricity bills. Beginning with Labor SA power stations were gradually replaced with wind and solar farms until that state had an unreliable grid and world’s highest electricity pricing.

    Paris Agreement is now the emissions reduction focus and more unreliable and expensive energy programmes underway. Plus many other economy damaging UN agendas such as Sustainability Agenda 30.

    This is economic vandalism and inexcusable.

  • Pensioner Pete 05/12/2019, 8:54 am

    Interesting math by Josh Frydenberg, to manage an account to show a credit balance whilst the truth is the balance is actually a negative $92 Billion. Not the bloke I would be seeking for financial advice, however he should be a hit with the crime organisations.

    Refers: https://australiandebtclock.com.au/

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