Julia's Reign

[overthehill]

"dramatic fiscal contraction that has allowed the country's central bank to cut interest rates."

Not related to reality.

There IS a property bubble. Private debt to earnings is off the scale.

Neither "side" understands the macroeconomics involved and either of both will create a recession/depression by stifling aggregate demand which will drive further, already high, unemployment and underemployment.

 

[Scotty]

I follow Bernard Keane in twitter. He is definitely a lefty!

Not that everything he says is wrong, but there are exaggerations in there.

 

[Braveheart81]

"dramatic fiscal contraction that has allowed the country's central bank to cut interest rates."

Not related to reality.

There IS a property bubble. Private debt to earnings is off the scale.

Neither "side" understands the macroeconomics involved and either of both will create a recession/depression by stifling aggregate demand which will drive further, already high, unemployment and underemployment.

The one problem when people compare house prices against the median income is that the new normal is dual income families.

Whilst this is an unfortunate reality for singles and families with only one breadwinner, the fact that housing prices being based largely off what dual income families can afford is not going to change anytime soon.

 

[I like to watch]

Any thoughts on how the AWU thing will play out?
Looks to me like the coalition are flogging a bit of a dead horse.
They seem to be lacking a smoking gun that can link Joolia to any specific wrongdoing.
Should it be relevant in any case?
Is it a matter of it was 30 years ago who cares, or does it go to her character, and should disqualify her from her position in the event there was clear cut wrongdoing on her behalf?

 

[Scotty]

Of course it goes to her character, and the character of many 'union officials'.

But it is a dead horse. Nothing will come of it.

 

[Sully]

I'd say that it says a lot more about the people pushing it than Gillard.

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[I like to watch]

Well, it's more relevant than accusations about Abbott bullying a political antagonist when he was at Uni.
And those accusations clearly had her approval.

 

[Sully]

So you believe as long as everyone is doing it it's okay? Aren't we a little more mature than that?

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[I like to watch]

No, I was making the point, that she is just as guilty as her detractors for attempting to slur Abbott for less serious actions, than those she is accused of.

 

[Braveheart81]

I guess the main point of difference is that the accusations concerning Gillard surround whether or not she knew about illegal or improper acts being carried out by other people.

The accusations relating to Abbott's bullying at university concern things he has actually done himself.

Personally I think it is all a load of rubbish. There isn't going to be a smoking gun that will bring Gillard down from this affair. This issue has been dealt with previously and nothing came out then. I can't imagine it will now.

Labor drawing attention to Abbott at university is just trying to put some heat on him to counteract the attention they're putting on Gillard in relation to the AWU/Slater and Gordon issues.

 

[Sully]

No, I was making the point, that she is just as guilty as her detractors for attempting to slur Abbott for less serious actions, than those she is accused of.

Looks like we're not.

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[Scotty]

I'd say that it says a lot more about the people pushing it than Gillard.

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That depends on how true it is.

If it is completely true, then why would you have a problem with people calling her out for it?

 

[overthehill]

The one problem when people compare house prices against the median income is that the new normal is dual income families.

Whilst this is an unfortunate reality for singles and families with only one breadwinner, the fact that housing prices being based largely off what dual income families can afford is not going to change anytime soon.

On any measure, private debt loads are off the historical scale. Far worse than pre-GFC USA.

That's an enormous transfer from the productive economy to the finance sector which is in part the cause of the downturn in aggregate demand.

Couple that with a government with an irrational surplus obsession and you have a deflationary crisis in the making.

 

[matty_k]

An interesting tweet between Craig Emerson (Minister for Trade and Competitiveness) and Peter Garrett (Minister of School Education, Early Childhood and Youth)

. @PGarrettMP I'll see your 764 days since you've had a question from the Opposition and raise you 1023 days since I've had one.

 

[barbarian]

To be fair, I'm not quite sure what circumstances in which I'd ever have to ask a question of the Minister for Competitiveness.

 

[I like to watch]

Time marches on doesn't it?
Who would have thought it's been 1023 since the batts in the roof clusterfuck.
Garret should be relieved no one is asking what he has fucked up lately.

 

[matty_k]

I'm pretty sure Gonski is a pretty big deal in which Garrett could have been asked about.

 

[Braveheart81]

I'm pretty sure Gonski is a pretty big deal in which Garrett could have been asked about.

The Opposition aren't overly likely to press the Government on the Gonski Review because they have no intentions of implementing it so they don't want to draw attention to any plans Labor has to implement some of it.

Also, actual policy gains very little traction in the Herald Scum or Daily Terror so focusing on relationships with union officials during the early 90s is a far better topic of conversation.

 

[matty_k]

Good point.

 

[Ruggo]

It is looking like the opposition are getting desperate. The government is getting traction now and the opposition just seem short of a reply.