The Pickering Post
Friday, 21st July 2017

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ALP/LIB DEBT DEAL FAILS WITH TANKING GDP

Larry Pickering

Four-time Walkley Award winning political commentator and Churchill Fellow, has returned to the fray over concern that the integrity of news dissemination is continually being threatened by a partisan media.

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Noticeably earlier this year the rowdy debate over debt and deficit suddenly fell silent. Shorten and Turnbull had made deal to avoid pointlessly tearing each other to pieces. Turnbull wanted the freedom to keep spending and Shorten did not want the blame for the existing, and now ballooning, debt. That deal is now in tatters as one more quarter of negative growth puts us officially in recession and almost certainly blasted below our AAA rating. Two more quarters of the same and it’s a depression with no way to finance health, education, the NBN, NDIS or welfare.

Morrison and turtle head Bowen had crafted a pathway of lies to solvency some time in the out years by agreeing to assume an outrageous five per cent per annum ongoing growth rate. Unfortunately anything under five per cent would ensure the financial blowout would increase exponentially.

In the next four quarters even China will be doing handstands if it can hold a genuine five per cent growth rate on the back of eight years of Obama and you can never believe China’s figures anyway. 

China not only unfairly manipulates its exchange rate it also manipulates its Hang Seng Exchange indices to the point that Exchange movements are internationally ignored as a financial indicator.

At the time the ALP/LIB deal was done, our GDP appeared to be an improving three per cent but, as explained here previously, that encouraging GDP figure was on the back of Abbott’s 20 per cent business tax write-off, a once-only stimulus item that saw employment and investment rise markedly after Christmas. 

And nary a word from either side about yet another Abbott success. Now it’s back to normal and we’re facing the same old fiscal brick wall, only now the wall is a lot higher.

There is hardly a Tallyho paper between Shorten and Turnbull over debt and deficit... neither gives a stuff about it because interest rates are near to zero and the Libs want to cut while the ALP wants to spend. 

But those interest rates are starting to turn and that makes the brick wall higher again.

The Trump effect will be blunted by a Left media in the same way as was Abbott. It is determined to mark both down on everything from finance to Collingwood.

Turtle head signalled his "the death of the deal" this morning when he came out with all guns blazing blaming the Libs for the disastrous GDP figure. The debt and deficit blame game is on again for the first time in a long time. 

And this time it’s time to tell the truth!     



Comments

I'm in. Whacko!!!

All the government have to do if they want to control the amount of sugar we eat, is to minimise the amount put in all foods by manufacturers....they do not have to tax it...oh, but wait a minute...they really only want the money...they are not honestly concerned about how obese we are!

On ABs blog ""Cindy Prior ordered to pay $200,000 "" the case against the students was thrown out of court! costs awarded against her,you bloody beauty!!!

It's going to be a long while before this government turns a profit going on recent accounts and inaction. I can't wait for Christmas and eat BK's favourite pie.....mince.

I never get over how stupid The labor Politicians are. Labor premiers who want 50% renewables during power blackouts. Poor job numbers loss of industries etc. But then I think these 5 premiers inc. ACT and NT are there because of failed Liberal Governments. The liberal party is inept with Victoria, Queenland and SA being Gerrymandered the poor old voter is buggered, Liberals failed badly in Qld, Vic and now WA and the NT was a disaster. The stupidity of the Labor party is equalled by the ineptitude of the Liberal Party. Where do we go now. Hanson? It wont be any better but it will be some form of revenge.

Ref water and rate charges. Separation may have been caused by avoiding cross subsidisation . by separating the true cost of each is apparent. In the case of water in Tasmania the same thing happened I think on the instigation of Canberra so that upgrades of lagging water schemes could be paid for. Down here we have electionic water metres installed at great cost replacing manual reading. Now we have 4 wheel drive dual cabs with two people in them at huge wages getting out of the cab and physically reading the meters. I think it is a unionised public sector work for the dole program. Queensland would know all about that.

Just yesterday we had the labor states ie SA, whining to Turnbull about the feds not having a viable energy policy, what Jay Wetheral rally meant was that he and his green mates have made a major, major cockup and will not admit it! as for state debt, a small state with one and a half million people have built the most expensive hospital in the world ,on borrowed money, and at least a year behind schedule , and still no sign of opening and will not have as much patient room , or enough emergency care room as the old one,

Kirk Douglas turns 100 today . MHR .

How very convenient Billy, you idiot. It was built in 1971 using technology 10 years old at that stage. And if you pay $12 a week for your electricity, good luck to you, although the use of the word intelligent in the same sentence leaves me a little speechless.

Right on friends.. it's always been 'the way'...the Labor people spend like drunken sailors.. then come the Libs to clean up the mess - build up the economy and then come the Labor people doing much the same as in the past... it's a revolving door syndrome in the country and it's been this way for a good many years.

labor are hopeless at management but good at blaming everyone else for their failures. The worker's friend, bullshit! Union hacks refuge!

We retreat back to what our parents and theirs before them did......make our own jams. toffee, icecream etc .....brew our own softdrink (Ginger Beer) and set up a distillery in the garage.....

“I don't want to talk to you no more, you empty headed animal food trough wiper. I fart in your general direction. Your mother was a hamster and your father smelt of elderberries.”
- Graham Chapman, Monty Python and the Holy Grail

.............................just about sums up their attitude!

Electricity is becoming a luxury.

Well put, THORN.

The white anting, scheming, usurper Turnbull's plot to decimate the Liberal Party is on target. Turnbull has glued himself to the PM's chair and he is not moving. If the Liberals have not got the numbers to call a spill and remove Turnbull and his Deputy Bishop, then Cory Bernardi, Tony Abbott, Peter Dutton, Andrew Hastie, Angus Taylor and the few other competent and genuine Liberal and National politicians in the Coalition Government must move out of the elitist Left wing Turnbull Party.

A new Conservative Party in the House of Representatives and the Senate, working constructively with the One Nation Party, would be the answer for many millions of Australian voters who do not want to be faced with the same terrible dilemma they had to face at the last federal election, where they could only choose between two Left major political parties - Tweedledumb or Tweedledee.

I put the posts below on here because I would like to know if there is anything in that one post that had to be divided into two posts on here that would have prevented it from being posted on the Bolt/Blair blogs. I posted it twice on Bolt's and once on Blair's, and neither deigned to post it. I do know how cowardly Bolt is ever since his 18C, and Blair is not much better, even if he disguises his cowardice with satire, but this is ridiculous. FCFS!!!!, you can't even post paedophile, mung, crooked, and a few other simple words on Bolt's blog. They have a word filter, yet blackfella is still allowed, which would be the first word, one would think, that Bolt would have banned, seeing as how it was very white coons who 18Ced him. What a country you lot live in. What cowardice.

OT: i don't know if this has happened to anyone anywhere else, but the council in this area quite a long while back, split off the water/sewerage from rates, and since then, the water/sewerage bill has climbed to the same dizzy heights as the rates. so now i hve to pay two bills of huge proportions, to say nothing of scary electricity bills and ever increasing transport costs. Is this really the lucky country? I've heard it said, Australia has the highest utility bills in the world. WHY?? I feel constantly ripped off.

oongah Fri 9 Dec 2016 10:15:56 am

Vecchio. Spot on. People still against nuclear are living in the dark ages, (spending $12 a week on electricity, they have to be). The cry of "what about Chenobyl" which is now 30 years ago just doesn't cut it anymore. We need nuclear and we have the ideal geology and weather to store the waste. Both ours and others.

$12 is the result of a good location, unit living, intelligent use and selection of equipment, acclimatizing to the seasons

Forget Chenobyl - Fukushima was only 5 years ago and the cost US $40 Billion
http://www.commondreams.org/news/2016/08/29/public-cost-fukushima-cleanup-tops-40-billion-and-expected-climb

Have just seen that the police in Bangkok have arrested a Pakistani man, who, evidently, lit a fire that killed about 250 people back home, and he is being shipped back home to face trial, or whatever sort of justice they have in that hellhole of a country. As I watched I was thinking that this silly Pakistani man should have fled to Australia, where he most likely would not have been arrested, community harmony the reasons cited for the non-arrest, and on the chance he was arrested then that triggs woman and her cohorts would have awarded him $350,000 of taxpayers' money for stress and inconvenience and islamophobia, set him up in a taxpayer funded house free of charge with his four wives, and put them all on welfare for the rest of their lives.