Tag Archives: household budget

Swan Lies About Mortgage Payments

4 May

Proof below.

Too disgusted to comment.

From the Sydney Morning Herald:

The Reserve Bank’s decision to leave its cash rate unchanged is good news for households and businesses doing it tough in Australia’s current patchwork economy, Treasurer Wayne Swan says.

“Following today’s decision, an average family with a $300,000 mortgage is still paying nearly $160 less each month in repayments than they were when we came to government,” Mr Swan said in a brief statement.

“That’s a saving in the order of $1,880 a year – extra money that’s particularly important given the cost of living pressures many families are facing.”

From the Reserve Bank of Australia Statistics (click to enlarge):

Howard Government – March 1996

Rudd Government – November 2007

UPDATE:

Thanks Wayne. You super little economic manager you:

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The Real Reason Why Gillard’s A Spinster

1 May

Why is Julia Gillard really an unmarried, childless, career politician spinster?

The answer may surprise you.

Take a look at the following chart, showing Commonwealth Treasury Note auctions from March 2009 through this past Friday (click to enlarge):

Source: Australian Office of Financial Management (AOFM)

Since Ms Gillard took over the nation’s top job, the size of weekly Treasury Note auctions has jumped dramatically.  Under Gillard, the government has auctioned $46.7 billion worth of Treasury Notes in just 10 months.  By contrast, the Fairy Ruddfather sprinkled $50.2 billion in the preceding 15 months, before Gillard banished him to the spare bedroom:

Now, it’s important to understand the special significance of Treasury Notes.  According to the Australian Office of Financial Management (AOFM):

Treasury Notes are short-term debt securities used primarily to meet within-year funding flows. Issuance decisions are made weekly and depend on the Government’s projected daily cash position for the weeks ahead.

Then there’s this:

Treasury Notes are not expected to make a major contribution to overall funding for the 2010-11 financial year as a whole.

Right. With 2 months to go, she’s already auctioned $11.1 billion (31.5%) more in Treasury Notes than the Fairy Ruddfather did in the previous financial year.

Conclusion?

Clearly, a Gillard-led government is incapable of managing the weekly cashflow.  The kitchen’s closed, the children are running amok, the House is a shambles, and the budget is out of control, ever since she took over the purse-strings.

Which explains once and for all, why she’s an unmarried, childless, career politician spinster.

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P.S.  I thought it apropos to reveal Gillard’s big secret today.  A day so very close to Julia’s heart.  International Worker’s Day.  Labour Day.  Otherwise known as May Day.

That’s also why I’ve changed this blog’s theme colour for today – in honour of the occasion.  Though I’ll admit it was rather difficult to decide whether it was more apropos to go red or …

“Socialist governments traditionally do make a financial mess. They always run out of other people’s money.”

– Margaret Thatcher, 1976

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