Federal Government advice

[TheCock]

There is a guy who is advising Tony Abbot about the economy. He suggests that minimum wages decrease and businesses have more power to buy each other out. He wants the value of the dollar to decrease. He was appointed by Tony Abbot himself.

Do you think this will be good for the country or economy?

Will this have an impact on the w/l industry?? Still wont win out because w/l prices may be lower but so will your wages

 

[SAO26.2]

It's surprising how often questions on economic theory come up on this site. I hardly discussed economics this much in MBA school.

The idea is if the Aussie dollar weakens, then Australian goods will be cheaper for foreign buyers, so foreigners (China mostly) will buy a greater amount of Aussie stuff (iron ore and natural gas mostly), and more foreign tourists will vacation in Australia - two things that should keep employment in Australia rolling along and everyone flush with cash.

Manipulating currency, though, has a history of not working out like people hope. It's unpredictable what will happen because there are too many variables. But the safe bet is that not much at all will happen - Australia just isn't a big enough force in the global markets.

As for decreasing the minimum wage, well, that's not something any politician who wants to keep his job will ever try to do. And even if he did, he couldn't make it stick.

I don't like that a minimum wage exists at all, but I'm a cold hearted American capitalist and am programmed to think that way. I'm convinced a minimum wage hurts more than it helps. I doubt I'll get anyone to agree with me though.

 

[BigMike]

As SA026.2 says.... unlikely to happen. You can get away with a lot, I think. But not that.

Lots of morons with terrible ideas get paid to give advice. It's amazing really.

 

[svengali]

Economic theory is only a couple of grades above reading goat entrails as a means of predicting the future.

All modelling is based on two slightly dodgy assumptions:

1) people are fully informed about financial matters.

2) People will always act in their own best interests.

As one of my lecturers once put it: "When reading economic news in the papers always consider who the speaker/writer is and look at his likely agenda. You must always try and separate economics from politics..........and good luck with that.

 

[colzilla]

Economic theory is only a couple of grades above reading goat entrails as a means of predicting the future.

.

I don't give Likes lightly Mr Sven but you've earned one for that comment.

 

[homer]

Is Abbott trying to follow in the foot steps of Abe in his Abenomics? Japan was devaluing its currency to stimulate the economy and push up inflation. I am not sure if that has done alot of good.

Making Aussie dollar weaker, means it's good for export but bad for import. Domestically prices of some goods may rise. Online retailing may slow down.

Australia needs to innovate and be creative. No good to be a stiffy all the time.

 

[whilom]

Eliminate State governments completely.
Raise the GST to 15% with no exceptions and NO deductions or Exemptions.
No personal Income Tax
No business tax
Disband ATSIC and create equality.
Disband Centrelink, Work or starve. NO hand outs
No overseas Aid at all
Absolutely No Aid to any immigrant. You earn on arrival or starve. (includes women and children you bleeding hearts).
Tell the world to fuck off and stay out of Australia's affairs.

Simple

 

[BigMike]

Simple

Stupid

 

[whilom]

Stupid

Tell me how much better successive governments of all persuasions are.

Pig snouts in the trough that's all it is to pollies.

 

[BigMike]

Tell me how much better successive governments of all persuasions are.

Well, if one was to form on the basis for your ideas - Lots. This one. The last one. The one before that and the one before that. There. There's 4. I could go on.

Disband Centrelink, Work or starve. NO hand outs

NO handouts... OK. So... what do we do with those who have the audacity to be born disabled? Those who, as much as they might want to, can't work in any capacity.

No personal Income Tax
No business tax

Given that you're allowing multi-billion dollar business's, many of which mine the countries finite resources, walk away with a tax bill of zero. Will this 15% GST be able to pay cover all the things you want? I'd like to see your working out. Roads, Police, Emergency Services, Defence, Border Security etc? I mention those things in particular because I imagine you are all for across the board privatisation of Health and Education.

Tell the world to fuck off and stay out of Australia's affairs.

....cos everyone is telling us what to do?

Simple

I suggest you Float this 'simple' idea of yours with some of your friends. See what they say. If they all agree with you, find some new friends. You won't change your mind. But it's good to argue your point and refine it if you need.

Don't think because I think your radical proposal is silly means I'm automatically at the other end of the scale. That couldn't be further from the truth.

Pig snouts in the trough that's all it is to pollies.

You really think that?
In any case... This utopia of yours doesn't eliminate the need for politicians.

 

[homer]

Secession. Since WA is so far away from the rest of Australia, only makes sense to be on our own nation. We've been neglected for so long, and given crap from the federal govt anyways. So Let WA be an independent nation state. It's time to put the "I" back in team.

 

[SAO26.2]

Secession. Since WA is so far away from the rest of Australia, only makes sense to be on our own nation. We've been neglected for so long, and given crap from the federal govt anyways. So Let WA be an independent nation state. It's time to put the "I" back in team.

What's your pick for WA's national anthem?

 

[homer]

A modified Gangnam Style...lol...