www.dailymail.co.uk/news/article-2349752...celerate-growth.html

One superb thing Kevin Rudd did in Australia when the GFC hit in 2007 : he used tried and true Keynesian economics...spend spend spend..new schools everywhere, roads, insulation for a million houses etc etc...and $1500 for every doler, pensioner or anyone receiving social security (thousands of new big screen tellys)...the result..an economy going gangbusters the envy of the world, AAA credit rating, consumer confidence ..everyone buying new things here and there...( minerals are only about 8% of the economy)

UK Nu Labour / Old Tories...doom and gloom and hopeless "austerity" policies that freak out everyone for a decade.

It worked with FDR in the US and it worked with KRudd in Oz..why won't they ever learn ? hideous old Protestant 'work ethic' where it's a crime if someone is seen to get something for free.

Lefty Hedda in Oz, rightly Rocks Lefty FDR.

hedda wrote:

It worked with FDR in the US and it worked with KRudd in Oz..why won't they ever learn ? hideous old Protestant 'work ethic' where it's a crime if someone is seen to get something for free.

Yawn !

Just wait till the bill arrives, Hedda !

Spending money you dont have is what CAUSED THE CRISIS !

In The Know wrote:
hedda wrote:

It worked with FDR in the US and it worked with KRudd in Oz..why won't they ever learn ? hideous old Protestant 'work ethic' where it's a crime if someone is seen to get something for free.

Yawn !

Just wait till the bill arrives, Hedda !

Spending money you dont have is what CAUSED THE CRISIS !

more proof that allowing a Tory to run such a complicated entity as government is dangerous for your ealth.

Every businessman knows you must invest to increase wealth. Investing often incurs debt..indeed debt is a mainstay of capitalism.

Just as it is with someone buying a house (mortgage) if you incur a debt to purchase a property and you can service that debt within your means, you eventually increase your wealth.

In Australia Rudd spent money they did not have...debt...an investment...debt...but that debt in proportion to GDP is very small...hence 1,000,000 jobs have been created in 5 years (all taxpayers spending, buying houses etc etc)...and the better result...big business and retailers boom which gives everyone in the economy confidence and so on and so on.

FDR's New Deal was almost identical (Keynes advised him)...as a result he set the USA up to become the powerhouse with an amazing economy for 50 year...until...along came Reagan and Thatcher in the UK...dismantling all this great work with their small minded economics.

There should be a law stating Tories can only run a corner shop and no more. They can count the takings at the end of the day and replenish their stock and keep doing so for the rest of their lives...and that's where they would always stay..in the corner shop out of harm's way.

Mark our words.

ITK still doesn't know.

Almost ALL businesses and projects borrow OTHER PEOPLES' money.

Even part-privatised financial failures, like Mag's Eurotunnel with £9 Billion written off to BIG bank loans and losses. Still being paid for in exorbitant Banksters' charges to THE PUBLIC (E.G. premium line 'phone enquiries ONLY £1 a minute - for Muzac!)

Higher than expected costs and lower than predicted traffic left Eurotunnel with huge debts, the repayment of which strained the company finances. Threatened with insolvency, in 2006 Eurotunnel was granted some creditor protection, while the company restructured its debts.

Oh, very dear ITK.