Is Ross Greenwood in Kevin's Pocket?

[josko]

I have just heard Ross Greenwood say that the handouts from the Government's Economic Stimulous Package have reduced the number of bankruptcies in the last quarter.

Can someone please explain to me how a few $900 handouts have lowered the Nation's figures for bankruptcy? $900 is hardly half the average mortgage payment at 5%pa!

Let's say the average 2.5 child/family ratio still exists. That is $2,250. That might help for one month, I guess.

What about lower interest rates? The average Mortgage payment has been down by $300 since the December Quarter!

Regards JO

 

[Ms Jade]

Perhaps he was referring to business bankruptcies? As in the increase in spending attributed to the stimulus has so far helped retail and small business people.

 

[Rob Williams]

Is Ross Greenwood in Kevin's Pocket?

I thought he was just pleased to see me

 

[josko]

I thought he was just pleased to see me

Sorry, Rob, I'm a bit slow today?

Hi Ms Jade,

It is Mortgage Bankruptcies and he is comparing a 9% drop in bankruptcy during the June Quarter to the same quarter last year.

Regards JO

 

[josko]

Sorry, Rob, I'm a bit slow today?


Regards JO

LOL...

OMG I am slow!

Regards Jo

 

[Player]

Perhaps Ross refers to halting the bankruptcies of Harvey Norman, JB Hi-Fi, et al and Philip Morris, Tabcorp, Crown, Fosters, Lion Nathan, etc.

With the latter consumables and addictables (is that a word?.....I'll make it one ), Kev (and the states to varying degrees) get a rebate (the govt gets a cashback deal) though dutie$, levie$ and taxe$.

 

[joanmc]

I think the funniest thing about the handouts is that you have to do your tax return to get it ....soooo all those people who have been avoiding doing their returns for fear of having to pay are now doing them. I wonder how many will have fines to pay that are larger than the $900 or accrued interest?

Rob...you are a worry mate!

 

[bobbiemenzies]

There is so much congruency in economic policy these days that its hard to differentiate between liberal and labor.

Both sides of politics rightfully acknowledge that an expansionary fiscal policy is the only way out of the mess. One doesn't have to be in Rudd's pocket to see this - its common sense. A Turnbull government would do the same.

As for debt. Lets not look at the raw numbers, thats for simpletons and scaremongers. Lets look instead at debt as a percentage of GDP to get an idea of where we are at. Compared to other developed nations, we aren't so badly off.

About giving away $900 to everyone.....the idea of giving money away to pump-prime the economy was one of the quivers in President Ford's macroeconomic policy arsenal. We are doing the same. There's no faster way to jumpstart the economy. Google "multiplier effect" or attend Macroeconomics 101 to learn more.

Does everyone get the $900. No! One of my friends, a disabled student who works part time and is not on Austudy didn't qualify. Makes you wonder. Those who deserve it don't seem to get it.

 

[blaster]

I have just heard Ross Greenwood say that the handouts from the Government's Economic Stimulous Package have reduced the number of bankruptcies in the last quarter.

Can someone please explain to me how a few $900 handouts have lowered the Nation's figures for bankruptcy? $900 is hardly half the average mortgage payment at 5%pa!

Let's say the average 2.5 child/family ratio still exists. That is $2,250. That might help for one month, I guess.

What about lower interest rates? The average Mortgage payment has been down by $300 since the December Quarter!

Regards JO

Dunno about Greenwood , always liked his stuff myself but mind you I've only caught his little morning show tid bits , not much to go on.

The 900 , it's possible believe me. We have been that broke in earlier days that 900 bucks could certainly have saved the day quite a few times.
It mightn't pay a mortgage but it would knock of a few nagging bills or car payments , clothes for your kids you couldn't afford, schooling whatever.
These things can kill you when your down and in turn have catastrophic effects.
For anyone struggling it certainly wouldn't have hurt that's fore sure.