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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (67048)	8/6/2005 7:12:12 PM
From: elmatador	Read Replies (1) \| Respond to of 74559

Paul Keating was my favorite Aussie PM. In a debate in parliament one guy made an innuendo about his shallow education, (he dropped out school) and got a reply that he won't forget: Just because you swallowed a fucking dictionary by the age of 16 doens't give you the right to throw a bucket of shit on top of all of us!" I liked the guy ever since.

To: Moominoid who wrote (67048)	8/6/2005 8:04:32 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 74559

John Howard's Treasury Secretary, Peter Costello, has been very successful in emulating Ronald Reagan's "cost shifting" to the State and Council governments. Sending your monthly bills to someone else for payment, instituting new fees, reallocating the income of others to yourself, and increasing spending is not my definition of financial prudence. In different settings this sort of financial management is the sort of activity which precedes a long prison sentence. Reagan's tax policy consisted of three parts. 1.) Shift the burden for funding many programs to the State government and re-allocate many local revenues to the Federal government; 2.) Sharply increase Federal spending on new programs; 3.) Reduce Federal taxes and run massive deficits. Costello has been able to achieve all of the above, with the exception of massive deficits. Perhaps the contrast between Howard's belligerent "I'll show you I'm not short" manner with Reagan's senile folksy patter made you think their economic policies were quite different. Actually it would seem that one is patterned after the other. While the farmer's National party, Howard's coalition partner, has been very vigilant to prevent tax cuts from reducing rural spending, pressure to prevent uncontrolled deficits came from the Australian Labor Party. .