As it's more than 100 days now, it has been suggested that a new thread was needed. The current govt has been breaking promises and telling lies at a rate so fast it's hard to keep up.
This below is worrying, "independent" pffft, as if your own doctor is somehow what? biased, it's ridiculous. So far there is talk of only including people under a certain age 30-35, for now. Remember that if your injured in a car, injured at work or get ill, you too might need to go on the DSP. They have done a similar think in the UK with devastating consequences.
and this is the 2nd time recently where the Govt has referred to work as welfare???? So when you go to work tomorrow (or tuesday), just remember that's welfare.
http://www.abc.net.au/news/2014-04-20/disability-pensioners-may-be-reassessed-kevin-andrews/5400598
Independent doctors could be called in to reassess disability pensioners, Federal Government says
The Federal Government is considering using independent doctors to examine disability pensioners and assess whether they should continue to receive payments.
Currently family doctors provide reports supporting claims for the Disability Support Pension (DSP).
But Social Services Minister Kevin Andrews is considering a measure that would see independent doctors reassess eligibility.
"We are concerned that where people can work, the best form of welfare is work," Mr Andrews said at a press conference.
It would appear that the difference between spend and invest is still not understood. Would anyone interested in economics actually consider Xmas spending on consumer goods, many manufactured OS, would give our economy a meaningful boost other than the usual Xmas spending spike?
Yes, Hockey said, and it has been repeated by the media in various forms:
“Don’t let Santa down, go out there and spend for Christmas,” Mr Hockey told ABC radio.
" we want Australians to go out and spend for Christmas, don’t let Santa down,"
“Don’t let Santa down, go out there and spend for Christmas,”
That was pre Xmas 2014, but in that same year he also said " Doing nothing is not an option. The days of borrow and spend must come to an end
Recently D9205 you wrote: "well, myo is right. if everyone has gone out to spend, spend, spend as Joe Hockey suggested...."
Again I ask where/when he said this (and a link) not a (mis)interpretation of his recent "borrow and invest" comment, because it appears to be purely a media fabrication.
M1C: "I don't know what Hockey said re "spend"," Probably because he mostly eschewed "spend"
Qualifications, are so important within a debate !
No sensible person (?) would suggest a course of economic uplift via "spend, spend, spend", listen to Hockey's speeches (pre and post budget) as he advocates "borrow and invest" quite a few times, a course that could be quite rocky (I am not a leverage fan where shares are concerned)
In the 2014-15 budget speech, Treasurer Joe Hockey said that “the days of borrow and spend must come to an end”, he then in 2015 advocated "borrow and invest", but I have still to find where he said: "spend, spend, spend"
Perhaps that is a hidden Santa clause somewhere.
"I think everyone understands the difference between spending and investing"
Really? So why has Hockey's "borrow and invest" been presented as "spend" within so many headlines, and also as "spend,spend,spend"here?
Joe Hockey said, go out and borrow money while interest rates are so low - is that a good idea do you think?? It would be good if you included the "invest" part !
ABC
now is the time to have a go, to borrow some money and to invest, invest in the things that help to create jobs," Mr Hockey said.
SMH
Treasurer Joe Hockey has urged Australian households and businesses to borrow and invest money
Guardian
The real driver of the housing market in Sydney in the past two to three years has been investors.
The Australian
“fertiliser on the green shoots” of the economy and should encourage the business community to invest and create more jobs
"so household savings are low, credit card debt is high 1 in 3 of 67% homeowners also have an investment proprty. the property market is extremely high, the share market is volatile, interst on savings is very low
Joe Hockey said, go out and borrow money while interest rates are so low - is that a good idea do you think??.
I have qualified my thoughts already apropos leverage, but would point out that 1 in 3 of 67% homeowners who have an investment property will most likely have borrowed to purchase it. Thus borrow and invest!
I would assert Hockey was possibly alluding to his accelerated depreciation package for SMEs, but discussion of that might be paused until the difference between spending and investing is fully appreciated.
"All businesses need finance to fund ongoing operations and grow. Finance can be provided from debt, equity and internally generated cash flow. What you need the finance for – for example asset purchase – will help you determine the type of finance you should access."
"he wanted everyone to spend as is obvious" Nonsense , he wanted them to invest, there is a difference,
"anyway- he was such a good treasurer that he is gone now." Give me strength, it is called power politics, research the "missing" ministers after Poor Me was given the flick by the Party, in fact more than one-third of the Gillard ministry went, including "I promise you a surplus garden" Swan. .. I notice that he is not even a shadow of his former self!
I invest in Australian equities. Last FY I decided to spend MY ATO franking credits on a new JCW BMW/Mini....... there is a difference? And I did not even have to borrow which is even betterer, thanks to my investments..
Anyway my above spending, I am afraid to admit, will not really help the Australian economy, and anyway, we have never produced a decent small sporty car..
Listen to THIS https://www.youtube.com/embed/ik9AtJQXaHQ?rel=0 very short.
"I really don't care hockeys is gone.. He made a mess of the budget"
So is "I promise you a surplus garden" Swan, and he made a mess of many a promised budget surplus.
Actually I find the mentioned figures "distubing" in that I have sympathy for those to whom any and all of them can be applied . Other than that, I am at a loss because I do not "fit" into any of the categories, and have not incurred any debt for many years.
In 2013, analysis by Credit Suisse revealed that the official ratio included superannuation contributions and extra principal repayments, which arguably should not be counted as disposable savings. After controlling for these two artefacts, the ratio falls significantly, exhibiting a persistently negative trend since 1997.
The household sector’s savings situation is dire, as reported by ME Bank in a 2014 report:
- Only 46 per cent of households reported the ability to save each month;
- Only 32 per cent would easily be able to raise $3,000 in an emergency;
- 50 per cent aren’t confident they have enough savings to last if unemployed for three months;
- 35 per cent reported having less than $1,000 cash on hand;
- 17 per cent have less than $100 in savings;
- 60 per cent have less than $10,000 in savings; and
- In 2009, Australians were saving a median $300 per year (AMP/NATSEM).
Australia’s private sector is grossly over-indebted, especially the household sector. The hysteria surrounding Australia’s non-existent public budget ‘emergency’ is a smokescreen cloaking the critical household budget crisis. The fictional narrative concerning public debt arises from an unshakeable adherence to pseudo-scientific economic theory and class war, such as ‘justified’ public austerity policies which target the poor and marginalised.
Meanwhile, the public is distracted from the true threat: the unrestrained private spending spree that further enhance the power, profit and authority of the horde of private monopolists, usurers, speculators, rent seekers, free riders, financial robber barons, control frauds and indolent rich..
There is a difference between spending and investing.
