THE BUDGET

[newstart2380]

I listened to Amanda Vanstone and Grahame Richardson this morning and what I heard was very concerning.

They both agreed that what ever party wins the election in September the GST will most likely rise at some stage to at least 15% because the deficit at this stage ( and rising) is so huge and there is NO money in the coffers.

The mining boom has weakened somewhat and this government has grossly overspent, the OZ dollar is to strong against other currencies but GR stated any credible treasury department would have foreseen and taken appropriate measures long before now because the OZ dollar has been high for over 2 years.

The Swan budget will be interesting but I think it will be his "swan song"

[catsnknots]

MM, you of all people should know how they get that average wage... 

Where I live the average wage is about $550 pw... 

Where my ex lives the average wage is $2100 pw but some people that do not work in the mines are still on that $550 pw average... 

huge difference there... 

You can't add up the wages of people on $109,000 per year with the people that make $29,000 per year and average that out and say this is what the average person earns... it does not work in the lives of most people.. 

it might work with a calculator but that is about it.. 

it is like the ABS and the unemployment rate.. they take anyone working for 1 hour a week as being employed... stupid statistics make a mockery of hard working people and people looking for more hours.. 

[newstart2380]

No CC here either, I have a debit card, so I only buy what I can pay cash for.

I have a CC but it is because I run my own business, everything I purchase is put on the CC and the account paid on time every time so no interest just a yearly fee. This enable me to reconcile the statement every month which makes it very simple and I do like the KISS method.

For those on a wage maybe not so good, maybe a DC is the way to go.

[newstart2380]

I am financially secure, and do not depend on any government welfare, purely because many years ago I planned, and saved, for my retirement.

"Credit is not a bad thing if you budget well"

If you budget well you would not require credit (card) other than to use it for a short term buffer and/or a means to avoid carrying too much cash, and certainly never to reach the point of paying interest.

[/quote]

Just like the government should have done ????????

[catsnknots]

I too have a CC... I got it last year.. it was the first time ever but I needed it to get a credit history for future reasons.. 

I got it on the advice of the bank manager after an appointment to plan for buying a home. 

Pay it off every fortnight... never had to pay interest.. 

[the_hawk*]

I listened to Amanda Vanstone and Grahame Richardson this morning and what I heard was very concerning.

They both agreed that what ever party wins the election in September the GST will most likely rise at some stage to at least 15% because the deficit at this stage ( and rising) is so huge and there is NO money in the coffers.

The mining boom has weakened somewhat and this government has grossly overspent, the OZ dollar is to strong against other currencies but GR stated any credible treasury department would have foreseen and taken appropriate measures long before now because the OZ dollar has been high for over 2 years.

The Swan budget will be interesting but I think it will be his "swan song"

Strange how when I said things were noty all peaches and cream and we were in real trouble I was howled down as being negative and all was great.

I guess it depends if you believe and accept the word of a polly or you look at people and things that are going on in the real world.

As for the mining boom, Haha this is the thing the government was relying on to keep us afloat, well its all but over and we are not doing fine..    http://www.google.com.au/#hl=en&gs_rn=9&gs_ri=psy-ab&cp=11&gs_id=w&xhr=t&q=mining+bust&es_nrs=true&pf=p&sclient=psy-ab&oq=mining+bust&gs_l=&pbx=1&bav=on.2,or.r_qf.&bvm=bv.45512109,d.aGc&fp=d49902a2f4880db5&biw=800&bih=399

[the_hawk*]

"The economy is BAD... people are STRUGGLING... there is no money and people have stopped spending.. we are in trouble... "

Codswallop.

ABS: Full-time adult average weekly ordinary time earnings  :$1,393.

I am financially secure, and do not depend on any government welfare, purely because many years ago I planned, and saved, for my retirement.

"Credit is not a bad thing if you budget well"

If you budget well you would not require credit (card) other than to use it for a short term buffer and/or a means to avoid carrying too much cash, and certainly never to reach the point of paying interest.

LOL look at the real world its a different picture than the one you believe it is.

That dodgy figure for ABS: Full-time adult average weekly ordinary time earnings  :$1,393. takes into account the top 10% of wage/salary earners and doesn't reflect on the 90% of the population.

[newstart2380]

Answer to #14 

Totally agree with everything you just said, just talking to people is the best way to gauge the way most people are thinking.

This government has spent money they THOUGHT they might get from the mining boom instead of spending wisely with what it already had in the coffers. I have seen businesses go belly up (one big building company recently) due to chasing it's tail, never works and the tail just gets longer.

[catsnknots]

Has the Wyhalla Wipeout begun? 

Huge jobs blow as $1 billion Arafura Resources Whyalla mineral processing plant scrapped

http://www.adelaidenow.com.au/business/sa-business-journal/huge-jobs-blow-as-1-billion-whyalla-miner...

[twinkles**stars]

I too have a CC... I got it last year.. it was the first time ever but I needed it to get a credit history for future reasons.. 

I got it on the advice of the bank manager after an appointment to plan for buying a home. 

Pay it off every fortnight... never had to pay interest.. 

cat....there is only such a thing as bad credit. no report is available for good credit.that bank manager was looking after their own interest not yours

[monman12]

TH: "That dodgy figure for ABS: Full-time adult average weekly ordinary time earnings  :$1,393. takes into account the top 10% of wage/salary earners and doesn't reflect on the 90% of the population."

Chuckle.

ABS figures "dodgy"

"....doesn't reflect on the 90% of the population."

TH do you ever ponder what "average" means in the term "Full-time adult average weekly ordinary time earnings"