Australian Political Economy (1 Viewer)

[Sathius005]

A) Will the Australian economy go into recession in 2013 and 2014? B) Is Chinese and Indian economic growth weakening in 2013? C) Will the mining boom decline within the next twenty years? D) Is neo-liberalism to blame for the Global Financial Crisis?

The global financial crisis has called into question the prevailing neo-liberal global regulatory framework that have so spectacularly failed to prevent the economic mayhem which has been inflicted on ordinary Australians.

 

[will90211]

A) Stupid question. B) Present tense...? C) To hard to tell, I'm leaning towards 'yes' D*) No - stupidly is where the blame lies and an over reliance on the rule of market

We survived the GFC with little pain compared to other nations. The pollies just like chest beat about it.

 

[Sathius005]

A) I am cautiously optimistic about the Australian economy. I believe economic growth will pick up in the short to medium term. Thanks to the medium term economic stimulus of the Rudd/ Gillard government Australia should stay out of Recession in 2013 and 2014.

B) Chinese and Indian growth is stabilising which is good news for the Australian economy.

C) The mining should still continue over the next twenty years although it would be lower than its historic highs.

D) Neo- liberalism is what has made our economy great but there must balanced regulation to underpin sustainable economic growth.

 

[Lolsmith]

D)

 

[funkshen]

i think we all know who's really to blame for australia's economic woes and the current global economic malaise

 

[Sy123]

D)

That was a really good speech

 

[will90211]

An interesting observation: While in the Sydney at Martin Place I was serving the homeless with sandwiches, tea and coffee at around 9 at night. On the other end of Martin Place was the Occupy movement. As we went past they were asking around for what pizza's people wanted for dinner. They did this in plain sight of the city's homeless.

 

[SylviaB]

there must balanced regulation to underpin sustainable economic growth.

Yeah let's make economic growth sustainable by having the government make credit artificially cheap, force banks to make bad loans, and create government-sponsored institutions institutions to provide artificial secondary markets for these bad loans.

 

[Lolsmith]

i think we all know who's really to blame for australia's economic woes and the current global economic malaise

 

[Sathius005]

Neo-liberalism is what has made the American economy great; after thirty years since the ideological and intellectual triumph of neo- liberalism. Free market economics along with strong welfare rights is what has made Western society great. We need corporations; nobody wants to go back to an agrarian society. Corporations create wealth, jobs, strong Corporate Social Responsibility, strong Code of Ethics and philanthropy. Corporations are peopling my friend and the banks are unable to lend due to a liquidity crisis. I firmly believe in my own singing voice that neo liberalism is what has enriched the welfare of ordinary, hard working and every day Australians and Americans.

 

[Sathius005]

The global financial crisis is not a failure of public policy and under regulation but an ethos that heavy handed regulation is toxic and crushes the risk taking, wealth creation and entrepreneurship that underline American society. It is not the greatest regulatory failure in modern history but a belief that governments should interfere as little as possible in the direction of economic affairs. The large corporate failures were as a result of excessive greed and CEO’s lack of risk mitigation and lack of tackling the job with assurance and a sense of reality.

 

[Sathius005]

The Global Financial Crisis is as a result of uncontained greed and exuberant managerial practises that is a civil wrong, a tort and an act of negligence. The GFC is a crisis spreading across a side street front: it is a monetary crisis which has become a general trade and industry crisis; which is becoming an employment crisis and a geo- political crisis.

 

[will90211]

Lentern, we are talking about the guy who said: "Tony Abbott claimed that Julia Gillard has a big "target" on herself- inspiring evil people to assassinate the Prime Minister."

 

[Sathius005]

William mate, you are a climate change denier, an asylum seeker human rights denier, an apologist for the sexist and misogynist Tony Abbott. You are a hollow, bitter and incompetent man. Unlike you William, who is doing the easy career path via Bachelor of Arts (Modern History) and Dip Ed I am doing Bachelor of Business at University of Technology, Sydney. UTS is a top five per cent business school in the world. Plus I am not doing easy majors; I am doing Bachelor of Business (First Class Honours and University Medal for Economics and Finance Majors). I have an ambition to be the number one CEO in the world and earn $200 million a year.

 

[Sathius005]

You might want to say just because I believe in decency for ordinary Australians and having strong welfare rights, having a strong safety net, a pro business free market economy and flexible working conditions that I am from the Loony left. You Sir William are quiet alienated from mainstream Australia judging from your extremist views. Furthermore, you support Tony Abbott’s extreme and polarising language used against the PM and against Australian diggers is shocking and an insult to this great nation. As we celebrate the great nation that is Australia on this day of ceremony on the 26th of January 2013. God bless Australia. God bless America. God bless the greatest PM that ever lived, Julia Gillard (who is destined to become Australia’s second longest serving PM over taking John Howard).

 

[Sathius005]

Not to mention I achieved 100 per cent in Business Law and Ethics when my results get scaled to a top fifty per cent business school in the world. This gives me a more qualified standing point to express my views about the Australian Political Economy. I wish you the best of luck for your studies Sir William. I will be moving to the United States of America once I complete my studies at UTS. Have an excellent day mate.

 

[SylviaB]

The Global Financial Crisis is as a result of uncontained greed and exuberant managerial practises that is a civil wrong, a tort and an act of negligence. The GFC is a crisis spreading across a side street front: it is a monetary crisis which has become a general trade and industry crisis; which is becoming an employment crisis and a geo- political crisis.

you have no idea what the fuck you're talking about

people have always been greedy. Blaming the crisis on greed is like blaming a plane crash on gravity.

 

[SylviaB]

I'm talking about Silvy's novel suggestion that it was excessive rather than insufficient regulation that prompted the banks to give out bad loans.

Wow you are fucking stupid

If the banks WANT to make bad loans, why the hell would the government make laws...that compells them to make bad loans?

 

[townie]

Not to mention I achieved 100 per cent in Business Law and Ethics when my results get scaled to a top fifty per cent business school in the world. This gives me a more qualified standing point to express my views about the Australian Political Economy. I wish you the best of luck for your studies Sir William. I will be moving to the United States of America once I complete my studies at UTS. Have an excellent day mate.

I'm not going to get into this debate except to say this post doesn't prove anything, it's just a statement, and an incredibly arrogant and narrow minded one at that.

 

[funkshen]

it is quite clear at this point that both private industry and government are to blame for the GFC, and that there was both over and under regulation of specific sectors and practices. the emergent stupidity of both individuals and groups of individuals was also clearly at fault.

however, this thread is about Sathius005s insights into Australian Political Economy. please continue