Understanding Government Spending In Australia- The Shovel
There’s been a bit of confusion lately about the difference between a government surplus and a government deficit, and how that relates to good economic management in Australia. This simple economics lesson from The Shovel explains how it works.
Good Economic Management (green section): Literally the only thing that matters when managing an economy is achieving a surplus. Nothing else is relevant. The Coalition has delivered a surplus every single year it has been in office in recent times, except 2013, 2014, 2015, 2016, 2017, 2018, 2019 and 2020.
Small Deficit (yellow section): This occurs when government spending is more than government revenue. This only occurs due to Labor being in Government or Opposition.
Debt and Deficit Disaster (red section): This is when spending is a lot more than income. It occurs when a Labor government is in office during a global economic crisis and is trying to avoid a recession. It is horrifically bad.
Good Economic Management (blue section): This is when government spending is immensely more than government income. It occurs when a Coalition government is in office during a global economic crises and is trying to avoid a recession. It’s basically the same as a surplus, except for the bit about spending being more than revenue. It is sound economic management.
Give me a break.
I agree with Kissinger that the post-Covid world order will be significantly different from the world that preceded it, but that’s as far as I’ll go. In truth, the US-dominated system is unraveling because the people of the world don’t want to ruled by force, because US leaders are incompetent bunglers who cannot be trusted to do the right thing, and because Washington’s arrogant go-it-alone policy-making has turned vast areas of the Middle East and Central Asia into uninhabitable wastelands.
Let’s face it, the United States had a chance to show the world it could be a reliable steward of global security, and they blew it. Nothing Kissinger says is going to change that.
Henry Kissinger calls for a New Post-Covid World Order, by Mike Whitney - The Unz Review
Mr
Moselmane savages Australia’s “mainstream media” for having “publicly
played racist cards, offending and insulting many Australian citizens,
especially Chinese residents” in actions that “further deepened the
already great suffering of the victim”.“Today, the obsolete scum
of 'white Australia' is once again flooding and the theory of yellow
fever has once again surfaced,” he wrote.
“Some mainstream media have bred and spread these racial viruses in our multicultural community with the purpose of inciting hatred.
“Today, media xenophobia and the full-scale war against China have become the norm,” his piece says, attacking not only Australian outlets but a piece in The New York Times.
It appears neither side of politics is game enough to say China has done the right thing in helping to stem this virus. Stephen Conroy "ex" ALP MP prefers his gig on Sky News. Murdoch Media would love to see Australian Chinese relations buckle. They have been Australia's major media Sinophobes for decades. They originally put the wind in Pauline Hanson's sails. The fact is Chinese Australians are being abused because of these Xenophobic racists. Moselmane ought to be congratulated and Sam Dastyari brought back. (ODT)
“Some mainstream media have bred and spread these racial viruses in our multicultural community with the purpose of inciting hatred.
“Today, media xenophobia and the full-scale war against China have become the norm,” his piece says, attacking not only Australian outlets but a piece in The New York Times.
It appears neither side of politics is game enough to say China has done the right thing in helping to stem this virus. Stephen Conroy "ex" ALP MP prefers his gig on Sky News. Murdoch Media would love to see Australian Chinese relations buckle. They have been Australia's major media Sinophobes for decades. They originally put the wind in Pauline Hanson's sails. The fact is Chinese Australians are being abused because of these Xenophobic racists. Moselmane ought to be congratulated and Sam Dastyari brought back. (ODT)
'Obsolete scum of white Australia' behind anti-Chinese sentiment, says NSW Labor MP
Mainland China reported 39 new coronavirus cases as of Sunday, up from 30 a day earlier, and the number of asymptomatic cases also surged, as Beijing continued to struggle to extinguish the outbreak despite drastic containment efforts.The National Health Commission said in a statement on Monday that 78 new asymptomatic cases had been identified as of the end of the day on Sunday, compared with 47 the day before.
There is no doubt Sinophobes will treat this as some dastardly Chinese conspiracy as well. Western universal condemnation and politicizing of China seems to be based on their failures of economic management and the inability of privatised systems to rapidly manage crises global or domestic crises as they unfold. China shows them up for what they are incompetent at their best. (ODT)
Coronavirus pandemic
China reveals new cases including dozens of asymptomatic patient
Even China reveals they still have COVID-19 issues despite total lockdowns. But the Australian Right are calling the war won!!
FAKE NEWS
TONIGHT - SUE CHINA FOR THIS VIRUS, AS MYSTERY GROWS ABOUT ITS ORIGIN
On The Bolt Report on Sky News at 7pm: Coronavirus crawls to a walk. Did we overreact? Now even a deputy chief medical officer admits the peak may have passed (although he's not sure) and we may soon prepare to relax restrictions. Now believe me? Meanwhile, which chief medical officer didn't stay at home but went for a walk in the bush instead?
TONIGHT - SUE CHINA FOR THIS VIRUS, AS MYSTERY GROWS ABOUT ITS ORIGIN
On The Bolt Report on Sky News at 7pm: Coronavirus crawls to a walk. Did we overreact? Now even a deputy chief medical officer admits the peak may have passed (although he's not sure) and we may soon prepare to relax restrictions. Now believe me? Meanwhile, which chief medical officer didn't stay at home but went for a walk in the bush instead?
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