Paul Keating On Economic Crisis 2009 part 1 of 3

[hanvo216]

Paul Keating is spot On. If people know whats coming in the next few years they will totally agreee with Paul .

[chickatawbutt]

If you really want the unpleasant truth try listening to Gonzalo Lira, Tom Woods, Peter Schiff, Mark Faber, Gerald Celente, Max Keiser, Jim Rogers, Ron Paul, etc.

[mak1rk]

adc123451 - you have obviously been following the garbage spewed forth by the ALP/union leftoid factory. The Campbell Committee, formed by Treasurer Howard, made all the recommendations for reform that were implemented by both Howard and Hawke. Of course Hawke/Keating beign the parasites they are took credit for all of them, despite many reforms already being implemented under the Fraser govt. All Keating gave us was 17% home mortgage rates.

[rodhmu]

Listen to this, listen without prejudice. Tell me of one other politician of our day that can hold a candle to him.

[TheAccurate1]

The double dip recession we had to have?

The stimulus shots have been fired. The global financial crisis is morphing into a sovereign debt crisis. It doesn't take an economic doomsdayer to understand that when it hits the big economies the world will be a different place.

[RamboAmbo]

Bring back Hawke and Keating

[gmspeedfreak]

guys becuase of 'the recession we had to have' well i watched my parents struggle when interest rates went up by 12 to 15%. for 5 years. No labour and keating were not the best PM australia ever had. neither was howard , and definetly not rudd.

[heathirving]

@gmspeedfreak

thats strange,my parents bought a house in 1991 when the interest rates were 17% and the repayments were lower than now. we lived like kings,and we were NOT rich.

[brentoneccles]

@gmspeedfreak the 'recession we had to have' was in large part to blame on the outgoing coalition government's budget deficit of $9.6 billion dollars (read your history) - you can obviously imagine the structural problems such a huge deficit would have had to lead the country to. the treasurer of that outgoing coalition government was none other than john howard.

[Asxhmoula]

I don't claim Paul Keating was a perfect political leader but man, he knows his shit.

[weenyone]

@Asxhmoula Australia's last statesman and political intellect that unfortunately many Australian did and still do not appreciate but they are dumb. He made mistakes but who hasn't

[gmspeedfreak]

keating attacked our tarriffs, thanks for allowing china in to control our imports , friggin heck what next?!

[adc123451]

And as a result we export 100s of billions of primary resource - that create 100,000 jobs(incl. from flow on effects) and drive our economy.

+ we get tv's fridges freezers mobile phones etc and other electronic goods at a fraction of the cost thereby having a massive beneficial effect on reducing inflation and reducing interest rates.

Yeah good one Mr Keating...

[gmspeedfreak]

don't you mean we get things back at a fraction of the cost becuase its all made there, and not here. And things from china seem to have a lack of quality, which can be frustrating

[saacson]

Socialist Snake!

[adc123451]

socialist snake? you have got to be kidding. as a matter of record Keating/hawke were responsible for the biggest progressive economic reforms in our history.

Howard/Costello dont even come close.

Altho - keating did believe that economic growth should be invested in universal health care/ health/ education/small business. Whereas as a matter of record Howards big winners were those earning over $150k and big business.

[Baldwynmayhem]

@adc123451 It depends how you look at it tbh. The bottom line is, regardless of ideaology, people do the wrong thing, whether that be a pure free market economics or mixed markets. People who take a risk and work hard deserve to keep their own money i'm sorry. It's not easy to start your own business and make a go of it, so if you ever do get to reasonable earnings

[mlawren7]

@adc123451 People who say ludicrous things like that are to be pitied. They've swallowed the Fairfax/News. Ltd lie hook-line-and sinker. They don't understand a thing about macroeconomics, like Howard never did, evidenced when he called Costello the best treasurer Australia ever had, when he should have said "luckiest".

[BCSimm1978]

ahhhhh Keating...... go away.... he left parliament with no credibility after sending us to our knees.

ahhhhh hardcore ALP supporters.... of course it was Keatings reforms that saved us... do you honestly think that floating the dollar saved us?

no doubt that some of his structural reforms have been good for the economy but you are in denial if you don't think the Coalition did anything worthwhile..!

[qin02]

i m not a die hard alp supporter, but u should look at the tony abbott speech about time when keating was treasurer and some of the other independant videos that are available on youtube regarding floating of the dollar, international competition in banking system, centralised wage fixing, 22% interest rate under johnny howard, decrease of inflation from the initial recession from such policies and a few other things.

[adc123451]

What did the Coalitiion do? GST? the way we pay tax is not a structural economic reform.

What structural economic reform did the coalition implement? the ALP were not just about floating the dollar. There is no coincidence why inflation was down to less than 1% and we had low interest rates shortly after Keating. Keating/hawke implemented a series of economic reform that gave us a low inflation - stead growth economy.

[timus8522]

I actually agree with keating on this one. He sounds like Ron Paul.

[Brulluhman]

USA and China are hostages of eachothers economy. If US go's down... China follows. If US doing well.. so does China.

The benefit of hyperinflation for America is that those bonds become useless. America won't have a debt, because their money will be worthless.

Only the euro is not going to be useless. Our state bonds stay valuable. US citizens probably going to trade in euro's.

[cookamidgera]

He presided over 2 very nasty recessions, (including his infamous "recession we have to have"), home loan interest rates as high as 17.5% at one point, brought the unwanted cancer of Political correctness to this country and was not my favourite person: what the hell does this have to do with an economic perspective?

[StrayGator]

The Australian economy went under massive structural changes during Keatings time. Recessions were almost inevitable. But it was worthwhile wasnt it.

[symons3569]

He's aged remarkably.

And he want's a New World Order.....

[jjhin1]

The man who reformed banks and floated the dollar, whose economic reforms have been widely credited with shielding Australia from the economic crisis would've made it worst, how?

It was because of these measures the economy was able to move in a timely manner and react in a natural measure against these external forces.

But yeah you're right that's all probably bull shit the GST, and persercuting foreign immigrants who arrive to the country on shanty boats was proabably what saved us.

[madlam83]

well i guess you didn't have a home loan when keating was in.

[jjhin1]

I guess you didn't have a home loan when Mr 22 % Howard was in. Honestly madlam83 don't waste your time trying make astute points. Just swear and wish death on people like you have previously, your good at that sweetheart don't over reach what your limited intelligence will allow you!

[madlam83]

Looks like you fucked up on the first attempt at that one. Not so smart are you? don't wast your time trying to come across superior to me. We are not talking about John howard here, we are talking about Paul keating. Trust me youtube offers enough oppotunities to put down john howard infront of his own videos. Im not favouring keating over howard you idiot i think they both suck. So unless you have something new to bring to my attention fuck off!

[jjhin1]

I've got a feeling a lot of people would have someting new to bring to your attention kid. I get it now though, I thought you were just a liberal backer but now you've shown that you're simply the a-typical Murdoch press reading all politicans are crooks type.

I'm not worried about trying to come across superior to you sporto because I am, you'r nothing more than homophobic loser.

Ok I'll fuck off now Hemmingway.

[madlam83]

Whatever, you still havn't pointed anything useful out to me. No shit, I think they are all crooks your beloved Kevin Rudd's wife Therese Rein Work choices come on, why am i bothering telling you this your probably the typical arty farty abo loving still in uni living off mommy and daddy 25 yo. Just like the majority of our useless generation. I doubt you paid 50k worth of taxes last year, so im probably a little bit infront of you in society.

[tssbozo]

jeez what a deadshit you are on top of being a moron to boot!

[jjhin1]

@jjhin1

[madlam83]

again fuck paul keating, and your a homo if you gave me thumbs down

[float89]

if you look carefully the guy in the curtain is nodding his head....

[theyalllied]

FUCK the NWO!

[beancube2008]

Once someone scheme a system with a lot of abstracts, his intention is to create metaphors in language, psychology and domination. Current states of physical resources and productivity are the best shape ever, why there would be all of these negative statistic of loss created by the crunch in credit flow? Bad credit shouldn't be covered up by the social status of organizations. The whole world of economy is currently trying to cheat those developing countries. Fill wealth/poor gaps, avoid wars.

[Hallakcuf]

What a total fuckwit this idiot is, Like listening to recycled water,

This idiot, had no fucking idea when he was running the country.

This idiot was bringing the bacon home, when he was prime minister of Australia, but took us down the road to ruin, now his mate Rud the Dud is completing the Job. Both are Just ganglings of the Whitlam PM, who took the great out of Australia.

PS Love the word lending at a margin what the fuckwit meant was creating inflation by lending at INTEREST.

[heathirving]

if it wasnt for whitlam,we would have a usa style health system,no legal aid,no racial discrimination laws,a transport system even worse than it is now,and the list goes on. and just before his dismissal,inflation dropped from 20% to 14% and the economy was actually growing at 2.7%

[mrdamager2007]

Hey Hallakcuf, when can I look forward to seeing your point of view on Lateline or will we not have that opportunity as you are simply a nobody and a noob ??

See you somewhere in middle Australia champ & remember to take out the garbage each week and scratch your balls when they are itchy.

It's pretty easy to call people who have dedicated their lives to the national interest (either successfully or unsuccessfully) 'fuckwits' and then abuse people you tube and then scratch your nuts again.

[daniel987878]

HAHAHA. Keating wants a new world order. This is like watching the same movie twice.

[jticchi]

free market fundamentalism?

Isn't any type of fundamentalism the problem? Speak to people with strong ideologies, they have a hard time letting the whole of reality through, as they have an ideology they have to defend. There are many problems out there, some have been caused by the FM fundy's refusal to see where their ideas meet their limits, Rudd can fix these, but he won't be able to fix the problems that aren't caused by this, due to his own ideology.

[jticchi]

In either case, theres going to be some oversight, no because the data wasn't there, or because it was widely enough reported, but simply because people have beliefs to defend.

Everyone talks about fundamental Christians, the problem isnt because they're Christian, its because they're fundamentalists!

Wouldnt it be great if we could elect politicians with fewer ideologies?

However it would be run against the trend of debates, political parties, sensational media stories, voting etc

[bwynter73]

beguiling as always. And I know I probably spelt that wrong.