ralph wrote:
> On Sun, 3 Aug 2008 11:29:59 +1000, "shlee" <shlee@gmail.com> wrote:
>
>> If this man ever become PM of Australia,
Peter 'No Balls' Costello, PM? B^D
http://www.youtube.com/watch?v=NySN_plfiNI
"Get Some NUTS, Peter!!"
>> ...I am of the view he will have no
>> sympathy for the struggling many
If he implements his plan for WorkChoices, working people
will suffer more than the last time the Liberals put their
boot on ordinary Aussie workers throats!
>> and Australia may just be a rich Nation
>> with the few in control and the many trying to make ends meet.
>> China is now a rich Nation with the few stinking rich and the many still on
>> slaves' wages.
>>
>
> Actions speak louder than your bullshit rhetoric
What specific actions, ralph, are you claiming Costello took
to cause 12 interest rate rises in a row and an explosion
of national debt, just before the Subprime crisis he had so
woefully left us exposed to.. When a global recession hits
you do NOT want to be saddled with RECORD DEBT, a FLEET
OF ****ING DEBT SUPERTANKERS, and TWELVE INTEREST RATE RISES
IN A ROW To MAKE IT HARDER TO PAY OFF!!!!
We were headed OVER THE CLIFF:
http://www.theage.com.au/ffximage/20..._470x372,0.jpg
But then, unlike me, you and Costello never saw it coming,
I called your Bubble economy built on property SPECULATION,
debt and foreign borrowings.. you liars pretended it
was sustainable 'growth' which you couldn't even maintain
from the 4% Keating left you, without inflating
the economy and leaving it with crippling debt! B^p
Rudd has turned the corner on interest rates, judged the budget
perfectly, and it looks like he will achieve a soft landing and
not the train wreck Costello could see coming, ONLY WHEN IT'S
HEADLIGHT WAS SHINING in his little piggy eyes; B^D
---------
Australia not immune from US recession
- Peter Costello 20/11/2007
"Mr Costello said a report by global investment
bank Goldman Sachs, which found the impact of
the US mortgage crisis could be far greater
than thought, posed risks to Australia."
Can't be Rudd's fault then, they knew the
meltdown was coming back in '07, and they
knew it would be a TSUNAMI:
"The report suggests investors may need to cut
back lending by $US2 trillion."
Costello hadn't seen it coming, or had been lying;
"Mr Costello, who just months ago claimed
Australia's economy was strong enough to
withstand the impact of a US recession,
has now changed his tune. He said if US
banks start withdrawing "huge sums of money",
we could see further pressure on interest
rates as people compete for funds. "They
are saying that this could lead to a downturn
in the world's largest economy," he told radio 3AW.
Mr Costello said if this happened, domestic
lenders would lose money, Australian
institutions would charge higher lending
rates to recoup higher borrowing costs,
and exchange-rate sensitivity would affect
Australia's competitiveness.
"This is a very, very big risk out in
the international economy at the moment,"
he said.
"And believe me, Australia will not be
immune. It will take a lot of management
to get us through this."
Mr Costello said periods of strong growth
in Australia had always ended in inflation
and high interest rates"
- The Age 20/11/2007
---------