Budget 2009
 

Its out for those interested [url="http://www.thewest.com.au/default.aspx?MenuID=28&ContentID=141217"]Clicky[/url]

The only good thing happening to WA is the Port upgrade which should have been done 4 years ago. Other than that it looks like everyone is going to be paying back this money for the next 25 years :(

[quote]First Home Owners Boost continued for six months[/quote]

good i may be able to buy a house in about 7 months.

[quote]IMMIGRATION
Skilled migrant intake slashed by 20 per cent[/quote]

crap, ill should really fill my immigration papers in.

[QUOTE=the kiwi]



crap, ill should really fill my immigration papers in.[/QUOTE]


snap.... ah sod it il just get married :)

The Funding for the NB Link is a massive boost for WA as well. The railway line should have been sunk 100 years ago, and now the federal funding means that Wanker Barnett can't shelve another vital infrastructure project.

This will create countless long term jobs and will be great for the city of Perth, bringing us out of the 70's and into the mid 80's!!

All the 'bonus' for WA was already on track, its fantastic, the bread winner of the country gets a wooden spoon.

Krudd 07
Mistake 08
Behind 09
Start again in 010

k-dudd

Its great to know that our Grandkids will still be paying this debt off when they enter the work force.

Australians voting for a Labor Government is like Turkeys voting for Christmas :(

It's like deja vu all over again.

Nothing to see here but it is deja vu for sure. Labour couldn't run a balanced budget if there life depended on it.

its like groundhog day

Dont see what the fuss is all about, they will get back most of what they spend from the flow on effect, extra income tax from jobs, company tax, payroll tax, less spending on unemployment. They did the hard thing but the right thing.

[QUOTE=Smokey]Dont see what the fuss is all about, they will get back most of what they spend from the flow on effect, extra income tax from jobs, company tax, payroll tax, less spending on unemployment. They did the hard thing but the right thing.[/QUOTE]

Huh?

How do they get extra taxes from income/payroll/company taxes when they have admitted unemployment will rise to 8.5% and revenues will be down on previous years?

As opposed to not spending. Where it would rise higher than 8.5%. Theres nothing any government could do to prevent a deficit or loss of jobs. Acknowledging this and taking steps to minimise the effect is what counts here.

Stolen from my email inbox.

LETTER FROM THE BOSS.....

As the CEO of this organization, I have resigned myself to the fact that Kevin Rudd is our Prime Minister, and that our taxes, and government fees will increase in a BIG way. To compensate for these increases, our prices would have to increase by about 10%.

Since we cannot increase our prices right now due to the dismal state of the economy, we will have to lay off six of our employees instead. This has really been bothering me, since I believe we are family here and I didn't know how to choose who would have to go.

So, this is what I did. I walked through our parking lot and found six ‘Kevin 07' bumper stickers on our employees' cars and have decided these folks will be the ones to let go. I can't think of a more fair way to approach this problem. They voted for change; I gave it to them.

I will see the rest of you at the annual company picnic

Brendon

[QUOTE=Smokey]As opposed to not spending. Where it would rise higher than 8.5%. Theres nothing any government could do to prevent a deficit or loss of jobs. Acknowledging this and taking steps to minimise the effect is what counts here.[/QUOTE]

IMF says the stimus packages wont help - but what would they know?

Kevin 747 knows better.

[QUOTE=urabus]Stolen from my email inbox.

LETTER FROM THE BOSS.....

As the CEO of this organization, I have resigned myself to the fact that Kevin Rudd is our Prime Minister, and that our taxes, and government fees will increase in a BIG way. To compensate for these increases, our prices would have to increase by about 10%.

Since we cannot increase our prices right now due to the dismal state of the economy, we will have to lay off six of our employees instead. This has really been bothering me, since I believe we are family here and I didn't know how to choose who would have to go.

So, this is what I did. I walked through our parking lot and found six ‘Kevin 07' bumper stickers on our employees' cars and have decided these folks will be the ones to let go. I can't think of a more fair way to approach this problem. They voted for change; I gave it to them.

I will see the rest of you at the annual company picnic

Brendon[/QUOTE]

^^^ what an arsehole
I'm not even sure firing people because of their political beliefs is legal.

[QUOTE=slappy]^^^ what an arsehole
I'm not even sure firing people because of their political beliefs is legal.[/QUOTE]

You realise its a joke yeah?

I thought it was rather funny.

Brendon

It's a joke ya clown :P

More comprehensive info re Budget [url="http://www.charteredaccountants.com.au/news_issues/federal_budget_200910/A122776575"]Clicky[/url]

Fire those loosers with stickers :)

Like smokey said, the government is unable to dictate what companies do as they are privatized. They cannot have any say in what the company does/doesnt do therefore the only thing they can do is lessen the effect of economic downturn.

I remember someone saying recently that its all a load of shit. If this 'world recession' was not played on TV,radio and the internet, thus noone knew about it (or scared into it) and was told by the government to continue to spend, there would be no recession.

[QUOTE=Sphoolin]I remember someone saying recently that its all a load of shit. If this 'world recession' was not played on TV,radio and the internet, thus noone knew about it (or scared into it) and was told by the government to continue to spend, there would be no recession.[/QUOTE]
Exactly. For anyone that hasn't, watch Zeitgeist. Wether it is absolute truth or only part truth it is a real eye opener.

Back in the 20's American banks were lending out money for people to buy shares hand over fist (like they were not too long ago) and people were sucking it up like there was no tomorrow. There was a contractual obligation that all money lent in this way could be called back at 24hrs notice. Lo and behold the banks called the money back in, people had to sell there stocks, stock market crashed, Great Depression started. Fact or fiction it's still an interesting concept.

[QUOTE=American Dave]Nothing to see here but it is deja vu for sure. Labour couldn't run a balanced budget if there life depended on it.[/QUOTE]

Unfortunately, it's our lives that depend upon it :(

Oh well, if I end out joining the other million+ unemployed, at least I will get the overly generous benefit payments too. With the wife & 4 kids, the total of all payments is nearly $60k. I could stay at home and work on my cars...

[QUOTE=Sphoolin]Like smokey said, the government is unable to dictate what companies do as they are privatized. They cannot have any say in what the company does/doesnt do therefore the only thing they can do is lessen the effect of economic downturn.

I remember someone saying recently that its all a load of shit. If this 'world recession' was not played on TV,radio and the internet, thus noone knew about it (or scared into it) and was told by the government to continue to spend, there would be no recession.[/QUOTE]

It's not that simple - the worlds money has dried up.

"toxic" Debts held by some banks have meant other banks dont trust each other and so no one will give out money. When there is no money there is no spending. I have clients who's businesses are having existing loans withdrawn sending them to the wall. Many people want loans but cant get them.

It is a cycle that repeats itself - you are right, money was too easy to obtain, but unfortunately, now it is too hard.

The downturn will continue until funds are freely available again.

Businesses mainly use debt to fund expansion - people spending wont provide enough funds, only debt.

prior to this amazing global financial crisis (admittedly the good ole us of a has been broke for 3+ years), Australia was in a healthy surplus - give the union sorry labor an open cheque book....and well history repeats.

I've planned ahead nonetheless, so you can either sit on your arse and bitch and moan, or do something with it and reap the benefits. im quietly confident this current 'market' has taught some people the true value of investment and calculated risk.

Prior Planning Prevents Piss Poor Performance - someone should email that to Wayne.

[QUOTE=JME]I've planned ahead nonetheless, so you can either sit on your arse and bitch and moan, or do something with it and reap the benefits. im quietly confident this current 'market' has taught some people the true value of investment and calculated risk.

Prior Planning Prevents Piss Poor Performance - someone should email that to Wayne.[/QUOTE]

Agreed 100%. The thing is that those under 30 have not known what it is like to not be able to get a job at will. This has not promoted any loyalty amongst employees and only now are they starting to realise that the wheel is turning and in many cases it is too late. They have always had access to cheap money (i.e. low interest rates since they were over 18) and have accepted credit card debt as a way of life. They have been able to earn silly money ($25+ / hr as a totally unqualified labourer). If they lost their job they do not have any savings and have to rely on the 'gummint' for handouts.

I know in my business we have laid off a couple of guys. The ones that have gone are the ones that would always hold you to ransom for another pay rise when they knew I had no other option. Also the trouble makers are gone. Dont get me wrong. These guys have been replaced but at the moment you can replace people whereas 12 months ago you really had to work with what you had and pay these guys drug money to keep the peace.

We also have a lot of trouble getting our guys to look after some of our gear. Generally speaking most of them dont give a shit. i.e. it breaks we will grab a new one and keep going. In the last couple of months I have had different people replace a digital camera they lost, a makita cordless drill and something else. They realise that they need to take some ownership whereas before they would have come to me and said brendon, i lost my camera I need a new one for tommorow.

Assuming you have a job I think the current situation is great. Will bring all these people that have bitten off more than they can chew back to reality and might make the drop kicks that look like they fell over in a fish tackle box and have hair 5 different colours realise that until they start acting like a normal person they will not be able to get a decent job.

Brendon

[QUOTE=urabus]
Assuming you have a job I think the current situation is great. Will bring all these people that have bitten off more than they can chew back to reality and might make the drop kicks that look like they fell over in a fish tackle box and have hair 5 different colours realise that until they start acting like a normal person they will not be able to get a decent job.[/QUOTE]


LOL :)

I believe they call it an 'economic cycle'. Whilst it went up, it has to come down at some stage, just like it will go back up at some stage, so i think you'll be seeing those retards with stupid hair again, Brendon :P.

I spose you could simplfy the current situation to that of a bear in the wilderness. A bear(person) knows that winter(economic downturn) is coming eventually, so it will gather all its food(investments/assets) and berries(beer) to keep it and its family alive during the winter hibination(economic downturn).

So when compared to the people of today, some people are actually less intelligent then a bear. Thats scarey. And they my friends, drive cars. Yes, thats right, people less intelligent then a bear, driving a car. Go figure.

[QUOTE=Sphoolin]I believe they call it an 'economic cycle'. Whilst it went up, it has to come down at some stage, just like it will go back up at some stage, so i think you'll be seeing those retards with stupid hair again, Brendon :P.

I spose you could simplfy the current situation to that of a bear in the wilderness. A bear(person) knows that winter(economic downturn) is coming eventually, so it will gather all its food(investments/assets) and berries(beer) to keep it and its family alive during the winter hibination(economic downturn).

So when compared to the people of today, some people are actually less intelligent then a bear. Thats scarey. And they my friends, drive cars. Yes, thats right, people less intelligent then a bear, driving a car. Go figure.[/QUOTE]

Some Bears (people) didnt believe winter was coming so got caught out in the cold!

Unfortunately winter was warned about but there was no certainty as to when it would arrive, how cold it will be and how long it will last.

The real Bears have it easy!

I'm going to be getting made redundant after 6 years at my job (web designer for a miner) but I have been expecting the down turn too so will be fine. Still sucks though, I hope it doesnt take too long for things to return to a sustainable level of growth.

Glad I didnt listen to my financial adviser
"maximise your debt, everything gets more expensive, buy an investment property now" I just put more into my mortgage instead. Wonder how many people went bust because of financial advice.

[QUOTE=JME]Prior Planning Prevents Piss Poor Performance - someone should email that to Wayne.[/QUOTE]

Couldn't agree more Jamie, although I thought the first 'P' was for Proper, not Prior.

How's the Paolucci Empire going in these tough economic times? Working on Murray Street I've seen Paolucci numberplates on a new Bentley and a pretty shmick looking Lambo Roadster.

Looking for some more employees by any chance?> :wave:

Proper Prior, either either same.

We're treading water like anybody else currently. Be it 1 million or 100 million, if you overcapitalise, these are the times that will 'expose' you for lack of a better word.

Will be looking for a property manager or two in about 12months time :icon_joke

Rudd , Gillard and Swan are flying on the Executive Airbus to a gathering in Canberra when Rudd turns to Gillard and says, chuckling,

'You know, I could throw a $1000 bill out the window right now and make someone very happy .'

Gillard shrugs and replies, 'Well, I could throw ten $100 bills out the window and make ten people happy.'

Not to be outdone, Swan says, 'Well I could throw a hundred $10 bills out the window and make a hundred people happy.'

The pilot, who had overheard all of this, rolls his eyes and says to his co-pilot, 'Such arrogant jerks back there. Heck, I could throw all three of them out the window and make 21 million people happy.'

Has anyone considered the energy part of the budget? Mr Energy Minister at work once again...

$2.4bil to low emissions coal..Read: Geosequestration. They seem to be pushing solar quite hard as well. Money which could be spent better in other energy initiatives imo.

I think its pushing shit uphill getting labor away from coal with jobs the way they are. Would be suicide for them. Probably see something come to fruition in 4-5 years. I did notice they threw some cash at the SKA though :)

Uranium technology, keep pushing coal till 2020, by which time the uranium initiative will be well underway and utilizing safe technology - and its also in our own backyard. May as well support the next commodity boom.

ditto, we arent short of landfill space either.

kaka-dont.

Agreed. It's interesting that combined cycle gas hasn't had a strong push to bridge the gap between coal and nuclear. As for nuclear, use our own reserves and dump the waste up north. Not much to contaminate in the middle of the desert.

Also disappointing that solar has seen a harder push than wind seeing as wind has become so economical.

[QUOTE=AWDmoke]Unfortunately, it's our lives that depend upon it :(

Oh well, if I end out joining the other million+ unemployed, at least I will get the overly generous benefit payments too. With the wife & 4 kids, the [B]total of all payments is nearly $60k[/B]. I could stay at home and work on my cars...[/QUOTE]

Welcome to a future under Labour. Unemployment is going to rise but with a very very generous system that pays out benefits in [B]cash[/B] the motivation for people to get back to work and contribute to society is removed...so those that are in work end up propping up a society of people that are just being lazy.

[QUOTE=slappy]I'm going to be getting made redundant after 6 years at my job (web designer for a miner) but I have been expecting the down turn too so will be fine. Still sucks though, I hope it doesnt take too long for things to return to a sustainable level of growth.

Glad I didnt listen to my financial adviser
"maximise your debt, everything gets more expensive, buy an investment property now" I just put more into my mortgage instead. Wonder how many people went bust because of financial advice.[/QUOTE]

A young woman my partner works with DID listen to her advisor (her now ex-boyfriend!).
She was advised to take a $100,000 (yes...one hundred thousand Australian dollars) loan to invest. She spent the last few years struggling to pay off the interest but stuck at it in the hope that the $100K would turn in to some serious money over the next 5-10 years.

The company she did this investment with just contacted her recently and said "Look your $100K is now worth not very much and is not likely to get any better so we reccomend you give up on it."
They have offered her a package where the company will call off the debt however she has to pay off the fees and a percentage of the interest the loan would have accrued....$35,000.

So she has not made a cent and has been left with having to take a personal loan for $35,000 to just try and clear the original debt.