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Saturday, 18th November 2017

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The Magical Balanced Budget Theorem

Viv Forbes

Viv has a degree in Applied Science Geology and is a Fellow of the Australasian Institute of Mining and Metallurgy

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Franklin Roosevelt figured that a balanced budget was one of the keys to solving the Great Depression.

Yet another treasurer bows to the gods of “the balanced budget” and “the surplus”.

A balanced budget is not necessarily good.

Most of the dreary comrade societies aimed at a balanced budget – “We take 100% of your income and spend it all”.

There is only one tax on the people and that is government spending.

The treasurer needs to slash that big tax.

All else is flummery.



Comments

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I’m Henry Donald by name. I live in CANADA, i want to use this medium to alert all loan seekers to be very careful because there are scam everywhere. Few months ago, I was financially strained, and due to my desperation I was scammed by several online lenders. I had almost lost hope until a friend of mine referred me to a very reliable lender called HENRY LOANS COMPANY FROM USA who lend me an unsecured loan of $50,000 under 3hours without any stress. If you are in need of any kind of loan just contact him now via:( [email protected]) I‘m using this medium to alert all loan seekers because of the hell I passed through in the hands of those fraudulent lenders. And I don’t wish even my enemy to pass through such hell that I passed through in the hands of those fraudulent online lend

Very good Viv
There is no future in Coal, I wish you well with your new career in Finance journalism.

yes Viv..balanced budgets are a myth..created to disguise the fraud that is fiat currency and income tax.(which is illegal in Australia by the way)..and a private mafia cartel which owns the money supply...the Govt SHOULD be able to print whatever is required for it to perform its duties of governing...budgeting is irrelevant..they print what they need...but under the Rothschild extortion fraudulent Fiat system..it has to run to the Zio Bankers and say give us more money..and then they indebted the citizens to the rothschilds..that in itself is a clear case of fraud...naturally no-one in the media or politics even bothers mentioning it...

Well said Viv.

In gross and net terms the Rudd/Gillard/Rudd Labor government recorded the second largest debt position of all previous governments over the reporting period with only the Hawke/Keating Labor government experiencing a higher debt position.
Business Insider

In gross and net terms the Rudd/Gillard/Rudd Labor government recorded the second largest debt position of all previous governments over the reporting period with only the Hawke/Keating Labor government experiencing a higher debt position.

Chart 4 presents general government gross and net debt for Australia in 2012 compared with other countries. The term general government used here is from the International Monetary Fund and is defined as all entities that fulfil the function of the government as their primary activity. Chart 4 clearly shows that Australia’s general government gross and net debt, which currently stands at 27.9 and 11.9 per cent of GDP respectively, is much lower than those of a range of other countries.

https://cairnsnews.org/2017/05/15/turnbull-governor-general-subpoenaed-by-defence-to-cairns-court/
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The Cairns show promises to be a blockbuster of unimaginable proportions the likes of which have not been seen since federation in this country.
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All citizens are invited to attend the Cairns court at 9am on Monday, May 22, 2017 to witness freedom in the making.

Re the Budget tax on "Australia's" Big Four Banks -

What do Australia’s “Big 4? banks have in common?

NAB, ANZ, Westpac & Commonwealth Bank are publicly listed companies. So that means they have shareholders right? Well did you know that the top 4 shareholders in each of the Big 4 are in fact the same?

Although Australia’s Big 4 promote competitiveness amongst themselves, they are all owned by the same (mostly foreign) financial interests; specifically HSBC Custody Nominees, J P Morgan Nominees Aus Ltd, National Nominees Ltd and Citicorp Nominees Pty Ltd.


Startlingly, smaller competitors like St. George and Aussie Home Loans – who claim to offer consumers a “fair go” – are also subsidiaries of the same corporate giants.

Not only is Australia a corporation registered in the USA, but the so-called “Australian government” is an administrator that has been appointed to administrate a bankrupt country.
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https://fyrst.wordpress.com/2016/03/05/the-year-your-family-went-bankrupt-changed-their-name-and-moved-to-another-country/

I have decided to become an Australian style Muslim sort of bloke and score a couple of cute sheilas who are on the dole for my harem seeing the government now says that I can be married to both of them because it would cost to much to separate us into indidual dole payments so we can all claim rent assistace and all the other perks of being single while we have a threesome kind of life breeding millions more until we own this joint ,all in the name of that Allah thing .

“..........1973 — the year that Australia was sold to the USA, the banksters and the IMF.
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Sceptics are now tut-tutting and looking for tinfoil hats. More open-minded people will click on the next link and see the SEC filing on the US government website.
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http://www.sec.gov/cgi-bin/browse-edgar?company=Commonwealth of Australia&CIK&filenum&State&SIC&owner=include&action=getcompany
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There are hundreds of pages of documents and filings on a US government website: all notarised and all verifiable.
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It is clear that the nation known as Australia is a registered corporate identity in the USA. Does the USA have a reciprocal registration with ASIC in Australia? No. Because the USA is not owned by, nor indebted to, nor does it owe anything to, Australia. Think about that.
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If sceptics care to check the SEC filings to see if the USA registers its other trading partners, or those with whom it does business, you will find that the biggest trading partners of the USA are not listed at the SEC nor are other countries registered in Washington… because these other countries are not owned by, nor indebted to, the USA.Think about that for a minute............”
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http://abundanthope.net/pages/Political_Information_43/1973-The-Birth-of-Corporate-Australia_printer.shtml

UK - "Justice for Chelsey" march protests alleged police inaction after woman reports migrant rape. A march has taken place in Sunderland to protest alleged police inaction after young mother reported being drugged, raped and assaulted by a group of migrant men. The mainstream media initially reported the arrest and bail of six men from Iraq, Syria and Bahrain after local women Chelsey Wright, 26, reported a "serious assault." However it is alleged the men all escaped charged and local police failed to investigate the incident properly. Ms Wright describes waking up in a locked room with a strange man of Turkish appearance who laughed at her and banged her head against the wall when she tried to escape.....read on about the horrors and suffering at Breitbart.........

The government mentioned good debt and bad debt, and as usual the mob laughed and scoffed. Debt is not necessarily bad (as accountants refer to debt that cannot be recovered), good debt is used for good purposes like nation building infrastructure, the Snowy Mountains Scheme for example.

It's the economy, Stupid!

I think Viv is saying we should borrowed a billion to gift to the Indian crook

Sadly, our current government's first (and only) priority is to save its own skin, hence a budget that any big spending, big taxing Labor government would have been proud to deliver. All care and no responsibility is the current name of the game. Perhaps, Turnbull should put in a take-over offer for the ALP, merge, and then the inner city lefties would have the progressive leader they so love and would much prefer over the Shortone, and Turnbull would have a well established voteherd that would keep him in power long enough until he could swing the new Republic into being, and then somehow instal himself and Loosey as Australia's First President, and First Lady of the new Australia Republic. Win, win!

Does smoking tobacco solve obesity ?

What happens when they run out of fiat money? The last thing that is cut is the salaries and perks of politicians. The rest of it will default to anarchy, poverty, civil war and chaos. In the end, as in all the previous revolutions that have happened over the last millenia, the people who have been compromised, robbed, taxed to death, beaten and abused will find these politicians and deal with them accordingly. Even a tax haven overseas won't be sufficient to hide them. They will be found. History will repeat itself.

Going broke in any formula ends in extraordinary pain, particularly for the people. The people must demand governments of all persuasion end their term with no negative debt, for to fail to do so sets the process in play which ends in bankrupcy.