Monday, October 3, 2011

Where are we heading in this country?

That is a valid question and many Australians would like to have it answered. Our federal government is spending borrowed money like drunken sailors. Our debt is growing bigger and bigger by the minute. We have wasted 6 billion dollars on the futile Afghan war so far.  Australian Government aid in 2011-2012 (in millions of dollars) amounted to: Indonesia 558.1; Papua New Guinea 482.3; Solomon Islands 261.6;  Afghanistan 165.1; Vietnam 137.9; East Timor 123.7; Philippines 123.1;  Pakistan 92.8; Bangladesh 92.0; and Cambodia 64.2.  
When there is a natural disaster in a foreign country we hand out millions to them, yet many Australian flood and cyclone victims do not have a place to live because of the meanness of the insurances companies. Why on earth do our citizens not get aid from the government like the foreign countries?? It is regional Australia that has suffered the most.

The last 12 months have been a shameful chapter in the governance of this country's affairs. It has been a period punctuated by lies, stuff-ups and contempt for the Australian people. The litany of policy failures since the Prime Minister seized power –profoundly affected the trust of Australian voters – and it is forever etched in the minds of our people.

Wayne Swan raised the Government’s borrowing limit in May to $250 Billion. None of the "LOVE" media, the Greens or anyone else of note except for real people like Barnaby Joyce raised an eyelid. Not even, it appears, our overpaid bureaucrats at the Reserve Bank Australia. 
Just read what is written below. It's quite entertaining to begin with but in the end I assure you it is not. This was written before the increased borrowing limit. Then ask yourself if this will be the real moral challenge of our time that we are leaving behind for our Children and Grand Children.

In Queensland things are no different; the Bligh government is also spending borrowed money on  totally useless things,
such as infrastructure for water fluoridation. To put it simply; we are helping China to get rid of their industrial waste from the fertiliser and aluminium industries through our drinking water systems. By the way, this is a number 6 poison. Originally the infrastructure for the Queensland fluoridation was “supposed to be” $35 million and now it has blown out to $113+ million half way through 2011 and they are not finished poisoning us yet! - Werner
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Those of you, who still believe that fluoride is good for you, please have a look at this video. It was uploaded just over a day ago and recorded almost 80.000 views. Click here!
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Also watch this video by Dr. Paul Connett Expert on Fluoride Toxicity; UNCENSORED conference. Click here!
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Water Worry - Fluoride Levels in the Water Supply • NBC Nightly News • January 7th, 2011 Click here.
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Quoted from Ross Greenwood of Money News.
What is a Billion? How many zeros in a billion??? This is too true to be funny. The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money.

A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases. 
A.  A billion seconds ago it was 1959.
B.  A billion minutes ago Jesus was alive.
C.  A billion hours ago our ancestors were living in the Stone Age.
D.  A billion days ago no-one walked on the earth on two feet.
E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.

NOW THIS IS UNDISPUTABLE!!!  NO MATTER WHAT YOUR POLITICAL LEANINGS.Right now the Federal Government is at pains to tell everyone - including us the mug-punters and the International Monetary Fund, that it will not exceed its own, self-imposed, borrowing limits.
How much?    $200 billion.   And here's a worry.
If you work in a bank's money market operation; or if you are a politician; the millions turn into billions and it rolls off the tip of the tongue a bit too easily. But every dollar that is borrowed, some time, has to be repaid. By you, by me and by the rest of the country.

I did a bit of math for Jason Morrison (Sydney radio presenter). But it's so staggering its worth repeating now. First though; here's what Ex-P.M. Rudd has been saying about - what he calls - these temporary borrowings. Remember Those Words: Temporary Deficit.

The total Government debt could end up around $200 billion. So here's a very basic calculation ….. I used a home loan calculator to work it out..... It’s that simple. $200 billion is $200,000 million.

The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years. Now here's where it gets scary ..... really scary.

The repayments on $200 billion come to more than one and a quarter billion dollars - every month - for 20 years. It works out that we - as taxpayers - will be repaying $15.4 billion in interest and principal every year . . . $733 for every man woman and child - every year.

The total interest bill over the 20 years is - get this - $108 billion. Remember, this is a Government, that just 18 months ago or so, had NO debt, NO debt at all. In fact it had enough money to create the Future Fund, to pay the future liabilities of public servants' superannuation, and it had enough to stick $20 billion into the Building Australia Fund. 
Alan Jones Comment...... this is frightening: Hmmmmm??
He continues... a note that was sent to me which explains that the six leading members of the Government, from Mr Rudd down, the top six have a collective work experience of 181 years, but only 13 in the private sector.

If you take out of those 13 years the number that were spent as trade union lawyers that total 11, of the 181 years, only two years were spent in the private sector. So out of those 181 years:

- no years spent running their own business  
- no years spent starting their own business
- no years spent as a director of a family business or a company
- no years as a director of a public company
- no years in a senior position in a public company
- no years in a senior position in a private company
- no years working in corporate finance
- no years in corporate or business restructuring
- no years working in or with a bank
- no years of experience in the capital markets
- no years in a stock-broking firm
- no years in negotiating debt facilities with banks
- no years running a small business
- no years at the World Bank or IMF or OECD
- no years in Treasury or Finance.

But these people have plunged Australia into unprecedented debt, and now threaten to torpedo employee share schemes, which they plainly don't understand. 
Well, in a way you can't blame them. It's clear the electorate did not do their homework, because the Government is there by right.

If you have read this you may like to pass it on to your friends to help educate a little…as you, them and I, will be repaying the above.
Click on the annotation above to enlarge. 
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My thought for today. – Werner
Never spend your money before you have it.- Thomas Jefferson


True Blue Aussie. said...

What an excellent question, Werner. “Why on earth do our citizens not get aid from the government like the foreign countries?” It is shameful to put it mildly.

Ben Holder said...

I’m gob smacked to see how much money we borrow and then give away to foreign countries as “aid.” Yet this government, as you write, doesn’t give any aid to our flood and cyclone victims. Most Australians have no idea about all this, thank you for publishing it. Your thought for today is certainly fitting.

This government looks after the illegal boat people much better, than their own citizens. Free housing, free food, free telephone cards and according to the news; the government provides free cigarettes which so far cost the taxpayer $1.4 Million. I have also read that the cost of detention per asylum seeker is $113,000. This is beyond belief or understanding.

Doren Bennet said...

I just discovered your blog and WOW what a myriad of interesting stories and information. I scrolled through a lot of the pages so far and immensely enjoyed reading every bit.

I’m absolutely astounded of the great amount of money our government gives away to other countries and neglecting their own citizens. What an absolute shame, especially, as you write, this money has to be borrowed. You deserve a pat on the back for you excellent blog.