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.
“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.”
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 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.
Which explains once and for all, why she’s an unmarried, childless, career politicianspinster.
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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.”
"Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers."
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