Comments on: Hold the champagne on Australia’s growth figures http://www.crikey.com.au/2009/06/05/hold-the-champagne-on-australias-growth-figures/ now with extra source Sun, 12 Feb 2012 02:48:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ben Aveling http://www.crikey.com.au/2009/06/05/hold-the-champagne-on-australias-growth-figures/#comment-28141 Ben Aveling Fri, 05 Jun 2009 12:27:31 +0000 http://www.crikey.com.au/2009/06/05/hold-the-champagne-on-australias-growth-figures/#comment-28141 Are we talking about a drop in imports and an equal drop in consumption, or are we talking about a drop in imports while consumption stays the same? The later, I think... But if so, then we are talking about import replacement, which does mean real growth in the local economy. That is, imports aren't falling because consumption is down but because local production is up. Unless I've missed something. Are we talking about a drop in imports and an equal drop in consumption, or are we talking about a drop in imports while consumption stays the same? The later, I think… But if so, then we are talking about import replacement, which does mean real growth in the local economy. That is, imports aren’t falling because consumption is down but because local production is up. Unless I’ve missed something.

]]> By: Matthew Knox http://www.crikey.com.au/2009/06/05/hold-the-champagne-on-australias-growth-figures/#comment-28093 Matthew Knox Fri, 05 Jun 2009 04:58:55 +0000 http://www.crikey.com.au/2009/06/05/hold-the-champagne-on-australias-growth-figures/#comment-28093 I am not sure what commentary Mr Schwab read, but over in The Australian it was fairly wall to wall negative coverage. They weren't alone. What I really object to in this article (and gives away the author's political bias) is the comment 'Taking money from one part of the population and handing it to another (to spend on pokies or plasma televisions) does not lead to lasting investment and sustainable growth". I have heard this line used, repeatedly, by the Liberal Party and its followers, but I have yet to see any research (or anything else) that would back this up. Correct me if i am wrong but didn't the Opposition Leader criticise the move because the money was saved and not spent? Similarly, the point about the porsche is fairly infantile. Why a porsche? Because it is a symbol of luxury and extravagance of course. Recycling politicians talking points (Labor or Liberal) is lazy commentary. The article's main point is lifted from the Daily Reckoning. Perhaps next time, instead of recycling old political comment, the writer could just copy and paste the Daily Reckoning article instead. I am not sure what commentary Mr Schwab read, but over in The Australian it was fairly wall to wall negative coverage. They weren’t alone.

What I really object to in this article (and gives away the author’s political bias) is the comment ‘Taking money from one part of the population and handing it to another (to spend on pokies or plasma televisions) does not lead to lasting investment and sustainable growth”.

I have heard this line used, repeatedly, by the Liberal Party and its followers, but I have yet to see any research (or anything else) that would back this up. Correct me if i am wrong but didn’t the Opposition Leader criticise the move because the money was saved and not spent?

Similarly, the point about the porsche is fairly infantile. Why a porsche? Because it is a symbol of luxury and extravagance of course.

Recycling politicians talking points (Labor or Liberal) is lazy commentary. The article’s main point is lifted from the Daily Reckoning. Perhaps next time, instead of recycling old political comment, the writer could just copy and paste the Daily Reckoning article instead.

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