Prepare for a longer Aussie Recession - DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate

**attractiveweb** · 01-26-2009, 07:32 PM

For those who voted Labor in the last Fed election, we finally see the true face of Labor as "economic experts"

They are doing exactly what US and the UK are doing - giving people money to spend and prolonging the technical recession by intervening into the unions and private sector against the true principle of a free market economy.

Anyway, I stick my middle finger at him when he is at a local function. In Singapore, I would be arrested.

Kevin Rudd confirms $4bn rescue for construction industry
AAP
January 24, 2009 05:44pm

THE Federal Government had to choose between doing nothing to save jobs or joining the big banks in a $4bn partnership to prop up the commercial property sector, Prime Minister Kevin Rudd says.

Mr Rudd confirmed the Government would join the four major Australian banks to set up a $4bn Australian Business Investment Partnership.

The banks will provide $2bn and the Federal government another $2bn to provide financial support for major commercial property projects including shopping centres, office towers and factories.

It would reduce the risk of Australian banks having to "fill the gap'' if foreign banks did not roll over their share of loans, Mr Rudd said at an Australia Day function in Perth.

"Our banks are strong and well capitalised and the (deposit) guarantee has enabled them to raise the funds they need to lend to Australian businesses,'' Mr Rudd said.

"But the Australian economy is global in nature and therefore affected by the health of foreign banks, as well as Australian banks.

"If banks do not allow clients to refinance as they would in normal conditions then companies can be forced to sell assets, often at low value.

Mr Rudd said lending by overseas banks represented half of the $285bn in syndicated loans issued to Australian businesses since 2006.

"Of those outstanding loans $75bn is set to fall due over the next two years,'' he said.

"If foreign banks do not roll over their share of these loans it would be difficult for Australia's four major banks to fill this gap on their own.

"The mathematics is fairly straightforward.''

Foreign banks carried more than $48bn or 28 per cent of lending to the Australian commercial property sector and were seeking to reduce their exposures, Mr Rudd said.

"That is why today the Government confirms that it will establish a $4bn Australian business investment partnership with the four major Australian banks.''

The move was a temporary contingency measure to provide liquidity support to viable major commercial property projects, the Prime Minister said.

The initial $4bn could be extended to up to $30bn of loanable capital through the issuing of government guaranteed debt, he said.

Mr Rudd said there was two options - to sit back and do nothing or act decisively.

"The alternative is to do nothing, the Government I lead will not embark upon that course of action,'' he said.

**blogforloversxx** · 01-27-2009, 08:39 AM

For those who voted Labor in the last Fed election, we finally see the true face of Labor as "economic experts"

They are doing exactly what US and the UK are doing - giving people money to spend and prolonging the technical recession by intervening into the unions and private sector against the true principle of a free market economy.

Anyway, I stick my middle finger at him when he is at a local function. In Singapore, I would be arrested.

Kevin Rudd confirms $4bn rescue for construction industry
AAP
January 24, 2009 05:44pm

THE Federal Government had to choose between doing nothing to save jobs or joining the big banks in a $4bn partnership to prop up the commercial property sector, Prime Minister Kevin Rudd says.

Mr Rudd confirmed the Government would join the four major Australian banks to set up a $4bn Australian Business Investment Partnership.

The banks will provide $2bn and the Federal government another $2bn to provide financial support for major commercial property projects including shopping centres, office towers and factories.

It would reduce the risk of Australian banks having to "fill the gap'' if foreign banks did not roll over their share of loans, Mr Rudd said at an Australia Day function in Perth.

"Our banks are strong and well capitalised and the (deposit) guarantee has enabled them to raise the funds they need to lend to Australian businesses,'' Mr Rudd said.

"But the Australian economy is global in nature and therefore affected by the health of foreign banks, as well as Australian banks.

"If banks do not allow clients to refinance as they would in normal conditions then companies can be forced to sell assets, often at low value.

Mr Rudd said lending by overseas banks represented half of the $285bn in syndicated loans issued to Australian businesses since 2006.

"Of those outstanding loans $75bn is set to fall due over the next two years,'' he said.

"If foreign banks do not roll over their share of these loans it would be difficult for Australia's four major banks to fill this gap on their own.

"The mathematics is fairly straightforward.''

Foreign banks carried more than $48bn or 28 per cent of lending to the Australian commercial property sector and were seeking to reduce their exposures, Mr Rudd said.

"That is why today the Government confirms that it will establish a $4bn Australian business investment partnership with the four major Australian banks.''

The move was a temporary contingency measure to provide liquidity support to viable major commercial property projects, the Prime Minister said.

The initial $4bn could be extended to up to $30bn of loanable capital through the issuing of government guaranteed debt, he said.

Mr Rudd said there was two options - to sit back and do nothing or act decisively.

"The alternative is to do nothing, the Government I lead will not embark upon that course of action,'' he said.

The whole world is suffering. But at least here we have cheaper prices unlike Arsetralia where people are suffering.

Australia is a ripp-off

**CIAFreeAgent** · 01-27-2009, 11:09 AM

The whole world is suffering. But at least here we have cheaper prices unlike Arsetralia where people are suffering.

Australia is a ripp-off

cheaper prices

because you have 3rd world wages

Don't get jealous. Oprah has the solution to $9 sandwiches. 99cents Chinese-made sandwiches.

**blogforloversxx** · 01-27-2009, 11:39 AM

cheaper prices because you have 3rd world wages

Don't get jealous. Oprah has the solution to $9 sandwiches. 99cents Chinese-made sandwiches.

I notice prices are dropping in the US and going up in Australia

Jealous, huh?

**CIAFreeAgent** · 01-27-2009, 11:52 AM

I notice prices are dropping in the US and going up in Australia

Jealous, huh?

Don't worry. It is the bad effects of Joshi virus taking control of your brain ...

Whether is it economic hyperinflation or deflation, you just need some painkillers to dull the effects.

**attractiveweb** · 01-27-2009, 12:48 PM

Recessions are good. We can weed out you spicks and throw your butts back to your crappy island.

**yazetaw** · 01-28-2009, 09:55 AM

cheaper prices because you have 3rd world wages

Don't get jealous. Oprah has the solution to $9 sandwiches. 99cents Chinese-made sandwiches.

I am not aware of the Oprah Winfrey-China connection.

Care to enlighten us?

**yazetaw** · 01-28-2009, 01:19 PM

According to relative costs, the expense of living in Australia has risen dramatically over recent years.

**Chiquita** · 01-28-2009, 01:36 PM

According to relative costs, the expense of living in Australia has risen dramatically over recent years.

Wow ... you can never imagine. $9 sandwich now $99

**blogforloversxx** · 01-28-2009, 01:40 PM

According to relative costs, the expense of living in Australia has risen dramatically over recent years.

Australia is a ripp-off!

**blogforloversxx** · 01-28-2009, 01:41 PM

Wow ... you can never imagine. $9 sandwich now $99

Poor Joshie Boy and his $9 sandwiches.

You only have yourself to blame for making such bad decisions, Joshie Boy,

Jealous, huh?

**Chiquita** · 01-28-2009, 01:45 PM

Poor Joshie Boy and his $9 sandwiches.

You only have yourself to blame for making such bad decisions, Joshie Boy,

Jealous, huh?

Yes. Only the Redbull drink is free. Thanks to the US interest rate at 0%.

**blogforloversxx** · 01-28-2009, 01:58 PM

Yes. Only the Redbull drink is free. Thanks to the US interest rate at 0%.

I did not know redbull is free Joshie, how did that happen?

Are you ok, Joshie? Are the taxes taxing you?

Get it?

I am bad, arent I?

**CIAFreeAgent** · 01-28-2009, 05:29 PM

I did not know redbull is free Joshie, how did that happen?

Are you ok, Joshie? Are the taxes taxing you?

Get it?

I am bad, arent I?

No. I am not a mean-spirit person. I am happily paying my contribution to a civilised society.

In fact, I will be worry for you, because you dislike tax but will be paying more tax under an Obamam administration.
http://www.sammyboy.com/showthread.php?t=14013

shhh... better not tell you too much bad news. the financial crisis is already taxing you.

**Qvqnubpj** · 01-28-2009, 07:22 PM

According to relative costs, the expense of living in Australia has risen dramatically over recent years.

huh? says who? according to my neighbour who bought a 1.7mil hse in camberwell, didnt feel the impact.. there is no adverse finding at my end..

says who? my chicken ventures hv risen dramatically too..

**yazetaw** · 01-30-2009, 01:28 AM

huh? says who? according to my neighbour who bought a 1.7mil hse in camberwell, didnt feel the impact.. there is no adverse finding at my end..

says who? my chicken ventures hv risen dramatically too..

Dont worry, the impact will be felt in 3rd Q 2009 until end 2010.

**blogforloversxx** · 01-31-2009, 10:05 PM

Dont worry, the impact will be felt in 3rd Q 2009 until end 2010.

By which time the rest of the world will be emerging from recession, Arsetralia will suffer for many years to come.

**yazetaw** · 02-01-2009, 12:15 PM

By which time the rest of the world will be emerging from recession, Arsetralia will suffer for many years to come.

Well, in a way you are correct. The US will lead the recovery and Australia will be among the last to leave a recession sometime in 2010 or 2011.

**ancexttew** · 02-01-2009, 01:05 PM

...
Mr Rudd said there was two options - to sit back and do nothing or act decisively.

"The alternative is to do nothing, the Government I lead will not embark upon that course of action,'' he said.

That is strictly not correct.

The alternative is to do 'other things'.

**attractiveweb** · 02-01-2009, 10:48 PM

I notice prices are dropping in the US and going up in Australia

Jealous, huh?

Take you jealousy and shove it

01-26-2009, 07:32 PM	#1
attractiveweb Join Date Oct 2005 Posts 372 Senior Member	Prepare for a longer Aussie Recession For those who voted Labor in the last Fed election, we finally see the true face of Labor as "economic experts" They are doing exactly what US and the UK are doing - giving people money to spend and prolonging the technical recession by intervening into the unions and private sector against the true principle of a free market economy. Anyway, I stick my middle finger at him when he is at a local function. In Singapore, I would be arrested. Kevin Rudd confirms $4bn rescue for construction industry AAP January 24, 2009 05:44pm THE Federal Government had to choose between doing nothing to save jobs or joining the big banks in a $4bn partnership to prop up the commercial property sector, Prime Minister Kevin Rudd says. Mr Rudd confirmed the Government would join the four major Australian banks to set up a $4bn Australian Business Investment Partnership. The banks will provide $2bn and the Federal government another $2bn to provide financial support for major commercial property projects including shopping centres, office towers and factories. It would reduce the risk of Australian banks having to "fill the gap'' if foreign banks did not roll over their share of loans, Mr Rudd said at an Australia Day function in Perth. "Our banks are strong and well capitalised and the (deposit) guarantee has enabled them to raise the funds they need to lend to Australian businesses,'' Mr Rudd said. "But the Australian economy is global in nature and therefore affected by the health of foreign banks, as well as Australian banks. "If banks do not allow clients to refinance as they would in normal conditions then companies can be forced to sell assets, often at low value. Mr Rudd said lending by overseas banks represented half of the $285bn in syndicated loans issued to Australian businesses since 2006. "Of those outstanding loans $75bn is set to fall due over the next two years,'' he said. "If foreign banks do not roll over their share of these loans it would be difficult for Australia's four major banks to fill this gap on their own. "The mathematics is fairly straightforward.'' Foreign banks carried more than $48bn or 28 per cent of lending to the Australian commercial property sector and were seeking to reduce their exposures, Mr Rudd said. "That is why today the Government confirms that it will establish a $4bn Australian business investment partnership with the four major Australian banks.'' The move was a temporary contingency measure to provide liquidity support to viable major commercial property projects, the Prime Minister said. The initial $4bn could be extended to up to $30bn of loanable capital through the issuing of government guaranteed debt, he said. Mr Rudd said there was two options - to sit back and do nothing or act decisively. "The alternative is to do nothing, the Government I lead will not embark upon that course of action,'' he said. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-27-2009, 08:39 AM	#2
blogforloversxx Join Date Oct 2005 Posts 350 Senior Member	For those who voted Labor in the last Fed election, we finally see the true face of Labor as "economic experts" They are doing exactly what US and the UK are doing - giving people money to spend and prolonging the technical recession by intervening into the unions and private sector against the true principle of a free market economy. Anyway, I stick my middle finger at him when he is at a local function. In Singapore, I would be arrested. Kevin Rudd confirms $4bn rescue for construction industry AAP January 24, 2009 05:44pm THE Federal Government had to choose between doing nothing to save jobs or joining the big banks in a $4bn partnership to prop up the commercial property sector, Prime Minister Kevin Rudd says. Mr Rudd confirmed the Government would join the four major Australian banks to set up a $4bn Australian Business Investment Partnership. The banks will provide $2bn and the Federal government another $2bn to provide financial support for major commercial property projects including shopping centres, office towers and factories. It would reduce the risk of Australian banks having to "fill the gap'' if foreign banks did not roll over their share of loans, Mr Rudd said at an Australia Day function in Perth. "Our banks are strong and well capitalised and the (deposit) guarantee has enabled them to raise the funds they need to lend to Australian businesses,'' Mr Rudd said. "But the Australian economy is global in nature and therefore affected by the health of foreign banks, as well as Australian banks. "If banks do not allow clients to refinance as they would in normal conditions then companies can be forced to sell assets, often at low value. Mr Rudd said lending by overseas banks represented half of the $285bn in syndicated loans issued to Australian businesses since 2006. "Of those outstanding loans $75bn is set to fall due over the next two years,'' he said. "If foreign banks do not roll over their share of these loans it would be difficult for Australia's four major banks to fill this gap on their own. "The mathematics is fairly straightforward.'' Foreign banks carried more than $48bn or 28 per cent of lending to the Australian commercial property sector and were seeking to reduce their exposures, Mr Rudd said. "That is why today the Government confirms that it will establish a $4bn Australian business investment partnership with the four major Australian banks.'' The move was a temporary contingency measure to provide liquidity support to viable major commercial property projects, the Prime Minister said. The initial $4bn could be extended to up to $30bn of loanable capital through the issuing of government guaranteed debt, he said. Mr Rudd said there was two options - to sit back and do nothing or act decisively. "The alternative is to do nothing, the Government I lead will not embark upon that course of action,'' he said. The whole world is suffering. But at least here we have cheaper prices unlike Arsetralia where people are suffering. Australia is a ripp-off Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-27-2009, 11:09 AM	#3
CIAFreeAgent Join Date Oct 2005 Posts 671 Senior Member	The whole world is suffering. But at least here we have cheaper prices unlike Arsetralia where people are suffering. Australia is a ripp-off cheaper prices because you have 3rd world wages Don't get jealous. Oprah has the solution to $9 sandwiches. 99cents Chinese-made sandwiches. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-27-2009, 11:39 AM	#4
blogforloversxx Join Date Oct 2005 Posts 350 Senior Member	cheaper prices because you have 3rd world wages Don't get jealous. Oprah has the solution to $9 sandwiches. 99cents Chinese-made sandwiches. I notice prices are dropping in the US and going up in Australia Jealous, huh? Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-27-2009, 11:52 AM	#5
CIAFreeAgent Join Date Oct 2005 Posts 671 Senior Member	I notice prices are dropping in the US and going up in Australia Jealous, huh? Don't worry. It is the bad effects of Joshi virus taking control of your brain ... Whether is it economic hyperinflation or deflation, you just need some painkillers to dull the effects. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-27-2009, 12:48 PM	#6
attractiveweb Join Date Oct 2005 Posts 372 Senior Member	Recessions are good. We can weed out you spicks and throw your butts back to your crappy island. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 09:55 AM	#7
yazetaw Join Date Oct 2005 Posts 373 Senior Member	cheaper prices because you have 3rd world wages Don't get jealous. Oprah has the solution to $9 sandwiches. 99cents Chinese-made sandwiches. I am not aware of the Oprah Winfrey-China connection. Care to enlighten us? Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 01:19 PM	#8
yazetaw Join Date Oct 2005 Posts 373 Senior Member	According to relative costs, the expense of living in Australia has risen dramatically over recent years. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 01:36 PM	#9
Chiquita Join Date Oct 2005 Posts 541 Senior Member	According to relative costs, the expense of living in Australia has risen dramatically over recent years. Wow ... you can never imagine. $9 sandwich now $99 Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 01:40 PM	#10
blogforloversxx Join Date Oct 2005 Posts 350 Senior Member	According to relative costs, the expense of living in Australia has risen dramatically over recent years. Australia is a ripp-off! Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 01:41 PM	#11
blogforloversxx Join Date Oct 2005 Posts 350 Senior Member	Wow ... you can never imagine. $9 sandwich now $99 Poor Joshie Boy and his $9 sandwiches. You only have yourself to blame for making such bad decisions, Joshie Boy, Jealous, huh? Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 01:45 PM	#12
Chiquita Join Date Oct 2005 Posts 541 Senior Member	Poor Joshie Boy and his $9 sandwiches. You only have yourself to blame for making such bad decisions, Joshie Boy, Jealous, huh? Yes. Only the Redbull drink is free. Thanks to the US interest rate at 0%. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 01:58 PM	#13
blogforloversxx Join Date Oct 2005 Posts 350 Senior Member	Yes. Only the Redbull drink is free. Thanks to the US interest rate at 0%. I did not know redbull is free Joshie, how did that happen? Are you ok, Joshie? Are the taxes taxing you? Get it? I am bad, arent I? Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 05:29 PM	#14
CIAFreeAgent Join Date Oct 2005 Posts 671 Senior Member	I did not know redbull is free Joshie, how did that happen? Are you ok, Joshie? Are the taxes taxing you? Get it? I am bad, arent I? No. I am not a mean-spirit person. I am happily paying my contribution to a civilised society. In fact, I will be worry for you, because you dislike tax but will be paying more tax under an Obamam administration. http://www.sammyboy.com/showthread.php?t=14013 shhh... better not tell you too much bad news. the financial crisis is already taxing you. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-28-2009, 07:22 PM	#15
Qvqnubpj Join Date Oct 2005 Posts 434 Senior Member	According to relative costs, the expense of living in Australia has risen dramatically over recent years. huh? says who? according to my neighbour who bought a 1.7mil hse in camberwell, didnt feel the impact.. there is no adverse finding at my end.. says who? my chicken ventures hv risen dramatically too.. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

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01-30-2009, 01:28 AM	#16
yazetaw Join Date Oct 2005 Posts 373 Senior Member	huh? says who? according to my neighbour who bought a 1.7mil hse in camberwell, didnt feel the impact.. there is no adverse finding at my end.. says who? my chicken ventures hv risen dramatically too.. Dont worry, the impact will be felt in 3rd Q 2009 until end 2010. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

01-31-2009, 10:05 PM	#17
blogforloversxx Join Date Oct 2005 Posts 350 Senior Member	Dont worry, the impact will be felt in 3rd Q 2009 until end 2010. By which time the rest of the world will be emerging from recession, Arsetralia will suffer for many years to come. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

02-01-2009, 12:15 PM	#18
yazetaw Join Date Oct 2005 Posts 373 Senior Member	By which time the rest of the world will be emerging from recession, Arsetralia will suffer for many years to come. Well, in a way you are correct. The US will lead the recovery and Australia will be among the last to leave a recession sometime in 2010 or 2011. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

02-01-2009, 01:05 PM	#19
ancexttew Join Date Oct 2005 Posts 468 Senior Member	... Mr Rudd said there was two options - to sit back and do nothing or act decisively. "The alternative is to do nothing, the Government I lead will not embark upon that course of action,'' he said. That is strictly not correct. The alternative is to do 'other things'. Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote

02-01-2009, 10:48 PM	#20
attractiveweb Join Date Oct 2005 Posts 372 Senior Member	I notice prices are dropping in the US and going up in Australia Jealous, huh? Take you jealousy and shove it Share Share this post on Digg Del.icio.us Technorati Twitter
	Quote