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$950 - Opinions?, What's your opinion on the proposed $950 handout
post Posted: Jul 29 2009, 02:46 PM
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Seems Rudds handout is heading across the Tasman!!V1
Auzzies flock to NZ slopes courtesy of Kevin Rudd
Queenstown has experienced a large influx in Australian tourists this season Mon, 27 Jul 2009 7:22p.m. New Zealand tourism has received an unintentional gift from Kevin Rudd after he gave working Australians a cash bonus to stimulate the economy. Rudd, however, did not anticipate workers would use the bonus to take a ski trip to New Zealand.
Queenstown has experienced a large influx in Australian tourists this season with many tourism companies crediting the spike to Rudd’s stimulus package.
Peter Hitchman has benefited from the business boom, launching a new snow shoeing attraction this year.
Mr Hitchman says the venture has been very popular with his main business coming from Australian tourists.
James Coddington chief executive of NZ Ski says the arrival has broken visitor number records on the mountains.
“They’ve come in their absolute droves this year,” he says.
“We have had the best start ever - right now we're 30 percent above any previous record.”
Cheap flights and Rudd’s stimulus have helped make the difference. Rudd’s stimulus package came with one main message, spend.
The Australian Prime Minister did not predict that workers would spend in a different country – especially New Zealand.
Stephen Pahl of Destination Queenstown says almost half of tourism to the city is from across the ditch.
“Of the 1.4 million visitors that we get coming here to Queenstown, we're estimating that around 45 percent of market share currently is coming from the Australian market and that's certainly not by any accident.”
Mr Pahl says that while other industries are struggling, Australia has helped save Queenstown tourism.
“There are some sectors of our industry that are finding it tough however we're managing,” he says.
“I believe the result we've achieved of getting back positive growth out of the Australian market has certainly been a saviour for Queenstown.”
3 News

post Posted: Feb 22 2009, 02:41 PM
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In Reply To: TheFerret's post @ Feb 15 2009, 10:42 PM

Hey Ferret ,a tip if I may. Notice how utb bought an article to the notice of others without condescending overtones. Tact , I think it's called. A little full of oneself, may be?

post Posted: Feb 22 2009, 02:33 PM
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In Reply To: utb's post @ Feb 16 2009, 08:42 AM

Yes, great article! Personally I'd be more inclined to vote for an opposition, what ever persuasion, if they learned when to shut up. And not put their political interests ahead of the national interests. Both sides need to learn this, when in opposition. I'd preferred they consider themselves employed to put the national interests above their own at all times .When both sides get this, we might be able to have some respect for the profession.

post Posted: Feb 16 2009, 12:14 PM
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In Reply To: balance's post @ Feb 16 2009, 09:54 AM

History tells us that whenever we have had a major banking crisis - it has always ended in a depression. The Govt stimulation of the 1930's did not solve the problem, WW2 did. History also tells us when the Govt does not interfere, depressions / deep recession are short lived - when they interfere it takes a lot longer for the markets to bottom therefore dragging out the length of the depression / recession.

One of the major differences in the financial world between now and the 1930's is in the 30's we did not have floating exchange rates, countries devaluing their currencies will act as a form of protectionism, we can already see some of this between the U.S. and China, we can see what the Brits have done by allowing the pound to depreciate. We can see that in this country that is what is done also, ex RBA Gov MacFarlane admits as much in a talk at the Lowly institute.

In essence we are in unchartered waters, we can learn from history to a certain degree. It is going to be very interesting to say the least.

post Posted: Feb 16 2009, 09:54 AM
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In Reply To: utb's post @ Feb 16 2009, 08:42 AM

Good article , thanks.
the only thing as he says they could argue about is the headline number and where it is spent.
is 42 b the magic number, can we afford more or is it 10 b 20 b too much?

all I know is that the govt would be damned by the opposition if they didnt respond.Its their job to oppose but it must be reasonable.
By just saying no they've missed an opportunity to have a real say (which would have been of benefit to the debate) in where and how the money is spent rendering the minor parties irrelevent.

The money spent I feel will smooth the business cycle and if its spent in schools, on infrastructure and worthy enviromental causes thats fine by me.Tax receipts will grow as a result. Targeting is always an issue.Politics and getting re-elected never far from the surface.
Not sure about the cash payments.Too big too small better targeted, who knows?

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post Posted: Feb 16 2009, 08:42 AM
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Most in business, even the most partisan Liberal and National Party supporters, can see that Australia (and other countries such as the US and Britain) are caught in the condition Keynes called the "paradox of thrift". The threat of rising unemployment and high levels of household debt means that the first priority of individual consumers is to cut debt, not increase spending.

The Age

Davidson says it better than me!

"Supply, Supply, Supply" Charlie Pellegrino Sep07
" We really see no more barriers now" Denis Kilroy Sep08
"The big launch is scheduled for the second half of November" Vagif Soultanov Oct09
" You gotta admit though its a funny company isn't it" ( or something like that.....) utb post drinks Dec09
"Solagran – it makes you laugh and it makes you cry” Investor Nov10
"Never let a good story get in the way of the facts" nicholls5 Nov11
"in the near future we expect SLA to be not only self sufficient but a successful profitable company" Vagif Dec15
"We have a good story to tell" Darren Schliebs Aug 16

Said 'Thanks' for this post: balance  dan.heath  

post Posted: Feb 15 2009, 10:42 PM
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In Reply To: TheFerret's post @ Feb 15 2009, 10:24 PM

Sorry, Bernamke agrees at the 5:15 mark, watch the whole vid as it will be educational for some of you.

post Posted: Feb 15 2009, 10:24 PM
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Any individual worthy of breathing knows that this means taxes will be higher than neccessary to recoup this money. Excess taxes are a brake on the economy and slow it down. Taxes to slow the economy versus interest rates is nasty.

That's one way, increase direct taxes, but that is politically untenable, so let's be sly little scumbags and increase the money supply and as it comes into circulation we have our inflation tax coming into play.

They tax via inflation (indirest tax), at 3:29 mark Congressman Paul states that inflation is a tax - at the 6:43 mark Bernanke is in total agreement that inflation is a tax and they do it by increasing the money supply, you do not get taxed straight away as in normal times a lag of 12 to 18 months exists. (these are not normal times so the lag will be greater)

post Posted: Feb 15 2009, 10:10 PM
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In Reply To: suti's post @ Feb 15 2009, 08:40 PM

Good Comment Suti! Moreover, The libs want to cut taxes but, as the economy takes off who would be in favour of raising taxes inorder to regain revenue? Not many voters. The speed with which the world economy has sunk/is sinking requires extremely urgent action simply to maintain demand/the economic activity required to go forward and avoid recession. The banks are not lending despite being bailed out o'seas and being guaranteed here in OZ so the handout will take effect through the Muliplier. Its about time people consign Milton Friedman to the trash can and realise Deficit is not a dirty word. It is sound economics to balance the budget over the Economic cycle which is Rudds Stated policy. The scare tactics of the Libs is playing politics to an ignorant electorate increasingly so as state education has been run down during the rule of the economic rationalists. Eco 101 ought to be compulsory for anyone who thinks their opinions worthy of airing.

post Posted: Feb 15 2009, 08:40 PM
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In Reply To: Mags's post @ Feb 15 2009, 06:11 PM

Mags you are either a true Liberal, or at worse misinformed

It annoys me when I hear people say that "Labor have blown the surplus". I don't really hug any side of politics, but did you know the Liberals own plan 'blows the surplus' as well? People have lost jobs as the subprime crisis has dragged on. This has dragged down tax receipts and increased Centerlink payments. Is the subprime crisis Labor's fault? The resource boom has bust (either temporarily or forever), causing lower company taxes (think the hundreds of millions less of tax BHP is paying this yr compared to last) and job losses. Is the resource bust Labor's fault as well? Come to think of it, Rudd actually warned in the election that the Libs had wasted the revenues of the resource boom or something along those lines.

Politically, the Liberals know they are on a winner with the "Labor = debt" scare campaign. It is an easy message to convey to simpletons who don't understand economics.


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