Howard and the wasted decade

Howard and the wasted decade

Posted in the Australia Forum

concerned aussie

Australia

#1 May 5, 2013
The eastern states are reporting negative growth, indicating we are in recession. Australia is headed for economic disaster. When the dust settles and Australians look back and reflect where we went wrong, the Howard years will be a strong remider of how apathy, complacency and ignorance allowed is to elect the most pitiful government in history at the most crucial crossroad of global change.

"There should be no doubt: the Howard Government was vicious, complacent, smug, and in many respects, simply incompetent.........They enjoyed the good fortune of being able to slackly ride a boom enabled by the reforms of Hawke and Keating and the world historical phenomenon of Chinese industrial expansion, but after eleven years, profound economic luck was not enough to hide the manifest manifold dismal failings of the Howard Government."

"The Howard Government simply failed the nation it was elected to govern. The litany of debacles of the wasted decade of the Howard administration makes for grim reading: ruinously bad foreign policy, contempt for international systems, pitiful lack of investment in infrastructure, chronic under-funding of education, undermining of the conventions of Westminster government, the collapse of accountability in key defence procurements, denial then failure on climate change and the anti-worker viciousness of WorkChoices: and that is without even delving in to what are seen as the softer issues of refugees, multiculturalism and Indigenous affairs. It was an era of the emaciation of collective good as a matter of Commonwealth governmental policy."

And now we are faced with the prospect of a coalition of even more incompetent intellectual light weights at the footsteps of the great depression. We are rooted.
alfie

Australia

#2 May 5, 2013
concerned aussie wrote:
The eastern states are reporting negative growth, indicating we are in recession. Australia is headed for economic disaster. When the dust settles and Australians look back and reflect where we went wrong, the Howard years will be a strong remider of how apathy, complacency and ignorance allowed is to elect the most pitiful government in history at the most crucial crossroad of global change.
"There should be no doubt: the Howard Government was vicious, complacent, smug, and in many respects, simply incompetent.........They enjoyed the good fortune of being able to slackly ride a boom enabled by the reforms of Hawke and Keating and the world historical phenomenon of Chinese industrial expansion, but after eleven years, profound economic luck was not enough to hide the manifest manifold dismal failings of the Howard Government."
"The Howard Government simply failed the nation it was elected to govern. The litany of debacles of the wasted decade of the Howard administration makes for grim reading: ruinously bad foreign policy, contempt for international systems, pitiful lack of investment in infrastructure, chronic under-funding of education, undermining of the conventions of Westminster government, the collapse of accountability in key defence procurements, denial then failure on climate change and the anti-worker viciousness of WorkChoices: and that is without even delving in to what are seen as the softer issues of refugees, multiculturalism and Indigenous affairs. It was an era of the emaciation of collective good as a matter of Commonwealth governmental policy."
And now we are faced with the prospect of a coalition of even more incompetent intellectual light weights at the footsteps of the great depression. We are rooted.
I well remember Johnny Howard boasting that rocketing house prices were a sign of how healthy the economy was. What he didn’t mention was that the private debt financing that boom was also exploding… but that’s the future’s problem isn’t it?
Truth

Australia

#3 May 5, 2013
Having spent 8 years in Europe and UK and getting back about 6 weeks ago. Australia is a land living in a fools paradise if ever there was one. The Mrs and I have worked out that Geelong (where we have decided to ove to) is more expensive than London. That would mean that almost every last activity undertaken by Australians in Australia is basically uneconomic at a global level.
Truth

Australia

#4 May 5, 2013
I challenge anyone to show one good strategic decision made by the coward government. He increased immigration, the cost of living, standard of education, and reduced wages and our competitiveness.
GoGoBar

Thailand

#5 May 5, 2013
It is difficult for me to be objective. I could agree with the wasted years at one level, but I and everyone I know made a great deal of money in the same period.

The normal business cycle is not coming back for quite some time, but there will be great opportunities again.

At the moment real estate is not coming down because of demand and the fact that the guys who bought in at the end of the cycle are overleveraged.

Local and State Govts have a stranglehold on zoning, land use and town planning. All for their friends.
If it were freed up somewhat then the baby boomer money waiting to be slaughtered in equities could be invested in bricks and mortar.

Most people who made the money can afford to buy their children a home if it comes to a full global depression.
Truth

Australia

#6 May 5, 2013
GoGoBar wrote:
It is difficult for me to be objective. I could agree with the wasted years at one level, but I and everyone I know made a great deal of money in the same period.
The normal business cycle is not coming back for quite some time, but there will be great opportunities again.
At the moment real estate is not coming down because of demand and the fact that the guys who bought in at the end of the cycle are overleveraged.
Local and State Govts have a stranglehold on zoning, land use and town planning. All for their friends.
If it were freed up somewhat then the baby boomer money waiting to be slaughtered in equities could be invested in bricks and mortar.
Most people who made the money can afford to buy their children a home if it comes to a full global depression.
Real estate in Oz is a big ponzi scam filling up bank coffers that benefits banks only, ask any economist, and with the price adjustment that will follow from recession your profits will be cut back to where it was over a decade ago, and your children will be paying off the debt of today with austerity measures, high taxes, high university fees, lower wages and less job opportunity. Australia is another Greece in the making.
Foo

New Farm, Australia

#7 May 5, 2013
Howards doctrine was "economic rationalsm"....in other words , people don't matter ,failing infrastructure doesn't matter , wage increases are flatly refused (as the cost of living rises) etc etc......the only thing that matters is that big business maintains profit , and keeps growing bigger......Abbott is Howard , but with much bigger ears......
GoGoBar

Thailand

#8 May 5, 2013
Truth wrote:
<quoted text>
Real estate in Oz is a big ponzi scam filling up bank coffers that benefits banks only, ask any economist, and with the price adjustment that will follow from recession your profits will be cut back to where it was over a decade ago, and your children will be paying off the debt of today with austerity measures, high taxes, high university fees, lower wages and less job opportunity. Australia is another Greece in the making.
Well I have actually lived through double digit inflation and, at one stage 17% interest rates, several recessions and managed to prosper.

Young people will have to go through the same cycles and apply their new ideas to make their way. Fortunatley young people today are far better educated and will set trends that I could never dream profitable.

Japan's domestic market was basically closed to Australian ideas in the first big boom. The youngsters had best use their sophistication to find a way into the Asian Domestic markets. Trade,Trade,Trade.
Anglo-Saxon-Celt

Airds, Australia

#9 May 5, 2013
Foo wrote:
....failing infrastructure doesn't matter ,..
Failing infrastructure was a state labour problem. Just ask Bob "The Commie" Carr.
Foo

Australia

#10 May 5, 2013
Australia has household debt over 150%, one of the highest in the world. A drop to 133% would be equivalent to America’s 17% drop and could mean a 30% drop in house prices here (as has occurred in US).I think the chance of a recession here is 100%.
Foo

New Farm, Australia

#11 May 5, 2013
Foo wrote:
Australia has household debt over 150%, one of the highest in the world. A drop to 133% would be equivalent to America’s 17% drop and could mean a 30% drop in house prices here (as has occurred in US).I think the chance of a recession here is 100%.
The chances of you being another fake Foo are 100%!!.......lol).....Australi a household debt is currently LOWER , yes LOWER , than it has ever been since federation....personal savings is HIGHER in the last 3years than it has EVER been......(lol).......Abbott= Howard with much bigger ears.
Foo

Australia

#12 May 5, 2013
Foo wrote:
<quoted text>The chances of you being another fake Foo are 100%!!.......lol).....Australi a household debt is currently LOWER , yes LOWER , than it has ever been since federation....personal savings is HIGHER in the last 3years than it has EVER been......(lol).......Abbott= Howard with much bigger ears.
You must get your figures from cloud cuckoo website.
Becky

Nanjing, China

#13 May 5, 2013
Foo wrote:
Australia has household debt over 150%, one of the highest in the world. A drop to 133% would be equivalent to America’s 17% drop and could mean a 30% drop in house prices here (as has occurred in US).I think the chance of a recession here is 100%.
Eff off, faux Foo
Becky

Hangzhou, China

#14 May 5, 2013
Yes Howard was a time server and a time waster, but we shouldn't be too harsh on him. He was what he was- a small-time suburban solicitor who couldn't see past his own nose and had no vision for Australia.
diddlyde

Australia

#15 May 5, 2013
So Wayne is reading a choose your own adventure book. The story has him as treasurer bla blaDoes he:

1. Spend and stimulate. All hope for surplus in forward estimates is gone. Rating agencies lower mega bank rating. Given that rating agencies when rating mega bank have been looking through to the commonwealth (via the implicit guarantee of an explicit guarantee). Banks tank. Property tanks. Economy tanks.

2. Don’t stimulate. Non mine economy tanks. RBA tries to do heavy lifting. Rates drop. AUD drops. Inflation goes up (thinking petrol over $2/L. What does RBA do then?
howard is a coward

East Maitland, Australia

#16 May 5, 2013
Under Howard immigration increased 10 times, yet average thinks he was anti migrant because he was tough on boat people.
waffen ss

East Maitland, Australia

#17 May 5, 2013
Howard was anti-white and a traitor.
Gatsby

Irvine, CA

#18 May 5, 2013
Howards 10 years. 2 million new jobs. Great economy. Low interest rates and low unemployment.

In 80's world thought Aussies cool and interesting. Today world thinks Aussies arrogant rich and dreadful tourists.

Howards legacy.
EuroBoy

Sydney, Australia

#19 May 5, 2013
Gatsby wrote:
Howards 10 years. 2 million new jobs. Great economy. Low interest rates and low unemployment.
In 80's world thought Aussies cool and interesting. Today world thinks Aussies arrogant rich and dreadful tourists.
Howards legacy.
Moron. He just rode the resources boom and strong global economy. Mickey mouse could have been in government and we would still had booming economy. Governments do not directly affect the economy. Their role is strategic, to be visionaries and make the big decisions that will pay dividends in 5, 10 and 20 years. All liberals did was waste opportunity. Today the world thinks we are the dumb blonde of the oecd, because we squander our advantage and achieve nothing. Unfortunately, we are inhabited by extremely ignorant fools, known as bogans, who take pride in being dumb and uneducated. Can you imagine how degenerate one must be to take pride in being a loser? What a great nation we have created.

Hence why many like myslef are convinced the only remedy is increased immigration. In other words we must replace the population with something better, people with higher IQ's, ideally people who take pride in being smart, education, working hard, i.e europeans, and east asians. Hopefully the euro crisis will encourage more to come here, but our inflated prices, bogan racist culture, poor education, and economic problems are deterring the best people.
boffin

East Maitland, Australia

#20 May 6, 2013
Howard and his entire family deserve to be lunches and burnt alive.

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