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jackspratt wrote: Probably a good idea, swanny - after all, Australia was one of very few OECD countries which got through the GFC virtually unscathed.

BTW - Rudd is not the only one suggesting a stimulus package. Starting right at the top, with the Gov of the Reserve Bank, who has been pushing for months. But Scotty from Marketing is more interesting in preserving his mythical, and totally unrequired (except for political purposes) "surplus".

Gee, I should know better than trying to take the piss and all the lefties think I am serious.
Krudd's packages were a disaster and complete waste of the future fund.
Perhaps if I suggested a former rock star with no other credentials than being Greta's Father lead the charge,people may have twigged I was taking the P155.

Given the money (or that which remained after Howard and Costello's profligate middle-class welfare splash) belonged to all Australians, and Rudd was the PM, thankfully he dipped in very quickly and successfully to prevent recession and job losses.

And what did Turnbull's opposition want to do?

Opposition to vote against Rudd's $42 billion package
www.smh.com.au/national/opposition-to-vo...e-20090204-7x4q.html

From memory two rounds of packages got through so the opposition must have waived them through the Senate. It's not so much how much but how the money was spent and as trsm says, pink batts and school halls didn't cut it for most punters.

Ive moved my Super to Cash today, this is going to take Months and could be worse than the GFC, it took 10 years for the ASX to get back to pre GST Levels,

Got a feeling this could be worse.

BC wrote: From memory two rounds of packages got through so the opposition must have waived them through the Senate. It's not so much how much but how the money was spent and as trsm says, pink batts and school halls didn't cut it for most punters.

First round was sort of ok , but it went into over kill from there, blew a heap of money on hopeless projects, burnt some houses down ad killed some kids with pink batts fiasco.

The Rudd government guarantee for banks was a shonky one as well, gave all the bank CEOs a massive green light to take risks at tax payers expense, a pay themselves more.

BC wrote:

jackspratt wrote: Probably a good idea, swanny - after all, Australia was one of very few OECD countries which got through the GFC virtually unscathed.

BTW - Rudd is not the only one suggesting a stimulus package. Starting right at the top, with the Gov of the Reserve Bank, who has been pushing for months. But Scotty from Marketing is more interesting in preserving his mythical, and totally unrequired (except for political purposes) "surplus".

Yes we were...all thanks to John Howard's $90 billion Future Fund that Krudd could dip into at his leisure coupled with the strength of the economy at that time running surpluses compared to other countries.

The bottom line was China, pulled us through the GST with massive commodity demand, we didnt experience a GST and nor did Brazil for the same reason. Rudd and Swans tinkering was a puff of hot wind.

Bazza wrote: Ive moved my Super to Cash today, this is going to take Months and could be worse than the GFC, it took 10 years for the ASX to get back to pre GST Levels,

Got a feeling this could be worse.

WOW, bet you wish you’d done that about 3 weeks ago but who could have predicted a pandemic? Going to be some bargains to be had down the track. I’d say it’s going to be in excess of 12 months before China gets this thing under control.

After a brief rally yesterday it's turned to shit again.

ScoMo announces a billion dollar stimulus package. Why do we all need a bandaid and a sugar hit? It's no different to helicopter parenting. FFS stop wasting money with handouts. Put the money in real areas of need.

Don't they learn anything from the past?

Not much good news around ATM with Coronavirus. Some good economic data out of the United States last night.Employment growth was very good for February. With over 300,000 jobs created.

gtrxuone wrote: Not much good news around ATM with Coronavirus. Some good economic data out of the United States last night.Employment growth was very good for February. With over 300,000 jobs created.

While the stock market is a blood bath the Trump Train rolls on. China is in crisis. Trumpy is smiling.