Comments on: Being there budget

By: Arjay

Arjay — Wed, 20 May 2009 07:24:40 +0000

Kevin Rudd has announced that the new Govt deficit will be 300 billion by 2014.This represents debt of $28,000.00 for every working person.The US deficit is presently $11 trillion or $36,000.00 for every working person.40% of taxes in the US are currently servicing debt.Now these figures do not include interest.How can you grow an economy when the govt is taxing the life out it to service debt?
We have nothing left to sell.We should never have sold the Commonwealth bank,just corporatised it.This debt will be with us for generations to come.
Why would anyone sell an income earning asset for short term gain? A house is not a good income earning asset but people generally do not sell it and trip around the world just to come back and pay rent.

By: Arjay

Arjay — Wed, 13 May 2009 23:30:44 +0000

We do not have to go into so much debt.Most of the money we borrow from the the World Reserve Banking Systems is cyber money.The IMF has just created $1.4 trillion of cyber money with only one fourteenth of this is in gold reserves.
The fractional reserve banking system allows banks to create 9 times the amount of money that they have on their books.Since 1969,we in Australia have had 1800% increase in our money supply above pop growth or increase in GDP.This expodential growth of money has enabled the finance system feed off it’s own excesses,thus destroying real productivity.
Creating more debt to solve a debt problem is folly of the highest order.
Australia has a lot of wealth in it’s people,resources,land and energy.We do not need to borrow from this perverted,parasitic banking system.
All we need to do is issue a currency backed by our nation’s resources.If the IMF can create money based on nothing,we can issue a currency based on substance and not be in debt to the Global Banksters.
Jack Lang stood up to the establishment and ran NSW on cash that he withdrew from the banks because the Federal Govt were going to confiscate his assets.
We can end this debt problem with the stroke of a pen just like Ron Paul is trying to do in the US.
Your wealth is in your people,and debt slavery limits all our potential both economic and spiritual.

By: taust

taust — Wed, 13 May 2009 11:53:27 +0000

I thought the most revealing part of the speech was when Swan imagined us boasting to our kids about the nation building we had done.
He appears to think that they will not realise we spent their money largely on schemes not giving an economic return.

By: taust

taust — Wed, 13 May 2009 11:52:26 +0000