Labor's crisis mini-budget

Labor's crisis mini-budget is another con-job that confirms promises on the economy cannot be believed.

http://www.liberal.org.au/Latest-News/2011/11/29/Labors-Economic-Failure.aspx

http://www.liberal.org.au/Latest-News/2011/11/29/Joint-Press-Conference.aspx

Category:

News & Politics

Tags:

• deficit
• debt
• budget
• mini budget
• wayen swan
• penny wong
• Labor
• Liberal
• Tony Abbott
• Joe Hockey
• Andrew Robb

[chotaboy66]

@LABORISTOXIC Most of my research comes from our own or should I say their Federal reserve banks own data . NO LIE but one thing I can assure you the debt is a lie because its a " falsified debt " meaning a phony debt WHY? Because NO BANK can prove how or what consideration of value of its own it gives up or risks in any " ALLEGED " loan to one of us ? If the banks offer no consideration of value of their own there is no contract therefor there is NO debt according to contract law ?

[chotaboy66]

@LABORISTOXIC The household debt is 100% of our GDP indeed something thats never talked about.

The banks hold $2.66 Trillion in Assets, and a new record $14.2 Trillion in Off-Balance Sheet “ Business” in OTC derivatives.

The $2.66 Trillion in “Assets”, is the value of Loans personal, commercial, and residential.Our "ALLEGED "debts to the banks is considered their “Asset”.

Lets not overlook the U.S feds bailout / money laundering (58 billion) of the A.U fed in 08 to bailout NAB & WESTPAC

[LABORISTOXIC]

@chotaboy66 ..... Australian Hosehold Debt is of great concern if most is in property and the cost of housing collapses. This is why the government does not release land and why the stimulus was not totally invested in houses, but in stupid school halls.

Tell me about the $15 Trillion derivative Time Bomb

[LABORISTOXIC]

@chotaboy66

Australia's national debt 139 billion ..... not there yet, but soon!!! I think Labor has borrowed at $900M/week for 3-years. But, I believe, this figure is a lie as Labor has been capitalising debt. By 2014-15 National Liabilities will be $490B

Australia's foreign debt (money banks owe overseas ) 675 billion and Australia household debt 1.5 trillion, we could approximate that the Net Financial Debt for banks is -$825B meaning they have borrowed more than they owe.

[chotaboy66]

@LABORISTOXIC Here chomp on these numbers because they represent what has already been stolen & currently being stolen & laundered out of the monetary circulation by all our peripheral banks ?

Australia's national debt 139 billion

Australia's foreign debt (money banks owe overseas ) 675 billion

Australia household debt 1.5 trillion

Oh yes and lets not forget the Banks $15 Trillion derivative Time Bomb , I thought I would just throw that one in for good measure ?

[chotaboy66]

@LABORISTOXIC Once one looks past the political arena & their deception & thus looks directly at money creation one then can clearly see that just about 99.99% of politicians are acting in breach of trust for taking part in a monumental crime of theft imposed upon humanity.99% tax's,sell offs of natural resources, assets etc is to keep the host alive just enough so the banks can continue their cycles of consolidation public & private until they dispossess us all of our property & wealth. WAKE UP

[chotaboy66]

@LABORISTOXIC I'm sorry the budget can never be met while all the peripheral banks are stealing & laundering circulation by the purposed obfuscation of our very own promissory obligations we have to each other? "Mathematically impossible" 99% of tax's is a result of national debt which is caused by the very shortage of circulation imposed by banks.Borrowed expenditure is quite small in comparison to all the money a government borrows back into circulation in an attempt to keep circulation vital.

[LABORISTOXIC]

@chotaboy66 .. .. all too true but a result of budgets not being met is the principle reason for the selling of assets ..... or would you prefer higher taxes or austerity measures. And you know who can't get a budget surplus ...... LABOR!!! This year alone Austalia will incease debt by almost $50,000M, Good job Labor.

Gold was sold ... but not so quiet. Would have been better if Keating sold it.

[chotaboy66]

@LABORISTOXIC Sadly one can not point the finger at any party because liberal did sell assets like electricity & telstra which has been nothing but a disaster & I seem to remember some gold reserves were sold off on the quite Selling ofF assets is just one symptom of a nation defaulted on national debt , another would be income tax for example? Sorry all politicians work for the banks, NOT for the people and their best interests. All Parliament are acting in clear breach of trust NO EXCEPTIONS.

[LABORISTOXIC]

@chotaboy66 ..... (PART 2)The main issue pertaining to governments holding assets is the blatant unionisation of their workforces. This provides a solid basis for vote buying by a Labor Government ..... wage incrteases and inflating public sector jobs is a tactic often used by Labor Governments. Then as debt blows out and cutbacks need to be made, Labor uses this (greed) as a fulcrum against an opposition government and has been in place since Whitlam.