There is a recession coming. Increase taxes

The depths of economic ignorance seem to know no bound.

At least when we are all unemployed, we won’t be paying income taxes.

AMAYZEEENG.

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35 Responses to There is a recession coming. Increase taxes

  1. Karabar

    One of the most amazing things is that there are people who will actually vote for someone that dumb.

  2. Tim Neilson

    I didn’t see much ridicule of Shorten and Bowen during the election on this kind of idiocy.

    They were spruiking the idea that:
    (a) the economy is at risk of recession;
    (b) therefore we should increase taxes by $ 2oo billion to have a war chest;
    (c ) the war chest can be used, after the economy crashes, to fund “stimulus”.

    Even if you believed in “stimulus” surely you’d see that the $200 billion would be negative “stimulus” while it was being extracted.

    But that’s “progressives” for you. Create a government-induced problem, then increase government intervention to attempt to mitigate the problem.

  3. Percy Popinjay

    Create a government-induced problem, then increase government intervention to attempt to mitigate the problem.

    When government attempt to mitigate the government-induced problem inevitably fails, increase taxes.

    Repeat ad infinitum.

  4. Rusty of Qld

    Karabar
    Thats the terrifying thing for me, approx 50% of the current voters swallow this and other horse shit like it’s mothers milk. With the the next lot of new voters being being totally brainwashed with greater cart loads of horse shit. God help this country!!

  5. Percy Popinjay

    people who will actually vote for someone that dumb

    The video still above is hilarious.

    “Duuuuuuhhhhhhhh …”

  6. Dave in Marybrook

    Remember, Aly is a Doctor for being an anti-terrorism expert. Secularly Isl*mic, but not really honestly.
    That is, a Doctor of English experienced in “deconstructing extremist narratives” who has persistently spruiked the rise and deadly dominance of white right-wing terrorism, and dismissed isl*mic terrorism as backlash/lone wolves/anything. Taqiyya, pure and simple.
    So it’s no surprise that she’s spruiking this sort of redistributionist, chicken little guff to the little people she lords over, pretending that bleeding the economy for pump priming will somehow create more magic money.
    There’s a taqiyya / take-ya pun here somewhere, but I’ll let Muddy sort that out.

  7. Shy Ted

    Much bigger recession coming in just under 12 years from now.

  8. 2dogs

    There is a recession coming. Increase taxes

    Is there a name for this new economic theory that the ALP has stumbled across here?

    It goes against Keynesianism.

    It goes against Laffer.

    I can’t find it any economic textbook.

  9. Dr Fred Lenin

    Who the hell is she ? Another know Nothing “expert”,you are not allowed to take OPM from socialists ,,socialism will die if you do.
    She any relation to cassius clay>?

  10. feelthebern

    Well played Dr Aly.
    An absolute moron who gamed her way into parliament.
    Someone who is not up to the job, but who after at 2 least two terms in the lower house will be suckling off the tax payer teat for life.
    Don’t hate the player (or moron in this case).
    Hate the game.

  11. billie

    she lectured in counter-terrorism .. must have been fun to attend

    they say of many academics, brilliant at what they do well, but need help crossing the road

  12. Zulu Kilo Two Alpha

    she lectured in counter-terrorism .. must have been fun to attend

    Never actually served in any police or military counter-terrorism units, but read a lot of books on the subject?

  13. a happy little debunker

    The current scuttlebutt is to avoid any impacts of a recession by printing ‘extra’ money.

    https://www.abc.net.au/news/2019-06-18/reserve-bank-must-consider-quantitative-easing,-economists-say/11218476

    The nutbags are getting louder & are making less sense than ever!

  14. Big_Nambas

    She is an oxygen thief of the first degree. I hoped she would lose her seat but she hung on by the skin of morons voting labor.

  15. old bloke

    I hoped she would lose her seat but she hung on by the skin of morons voting labor.

    50.83% to the Liberal candidate’s 49.17% TPP. Large enclaves of migrants in her electorate. Why does the LNP government continue to import more people to vote against them?

  16. stevem

    Standard spiel for the Labor party for years.

    1) Make a scary observation/prediction
    2) Blame Liberal Party policy
    3) Insist Liberals implement Labor policy now.

    If you never discuss details the media can’t analyse policy and just report it, seemingly as fact.
    Despite the public voting in the Liberals it took Labor a fortnight to claim they have no right to implement policy the public explicitly approved 2 weeks prior. All part and parcel or why they lost an unlosable election, but they’ll never learn.

  17. Infidel Tiger

    Labor and the media are desperate to talk up a recession.

    They know it’s their only hope to get back in power.

    Fairfax is running deranged economic depression stories every day.

  18. Dr Fred Lenin

    Never mind the alp has a couple of aces up their sleeve when the recession they caused with their progressive tax crap comes along ,DAH Dah! They will bring back krudd and swannie ! After all they did cure the great depression we didnt have in 2008 , then all will be well ,back to grinding soviet style socialist poverty ,why should Venezuela have all the fun .

  19. Pyrmonter

    @ Tim Neilson

    It is as if all our journalists, members of the political class and commentariat can remember the Balanced Budget Multiplier; and nothing more, having bunked off second year macro and anything more advanced.

    (The tendency of the few members of the aforementioned classes who are economically literate to over-use the ‘retail politics’ of simple household metaphors and the like doesn’t help)

  20. Pyrmonter

    @ IT

    We’ve had a spontaneous contraction in credit growth, and with, some softening of asset prices and construction activity. Most of us would regard that as unremarkable, and by historical comparisons (’74, ’82, ’90) it is. But you have to go back to 1991 or 1992 to recall a proper recession. They’re hyperventilating about very little, but not entirely ‘nothing’.

  21. John A

    Anne Aly? Is that a screen name only? Or is her middle name “Om” by any chance?

  22. Nob

    She got through on Green preferences only.

  23. Infidel Tiger

    Pyrmonter, I’ll be more interested in the next set of figures.

    I’d say business had factored in Labor and that has weighed us down.

    Housing is the huge drag though. Good luck untangling that ponzi.

  24. Up The Workers!

    Could somebody tell that village that we’ve found their idiot!

  25. candy

    The RBA cutting interest rates seems a blow and they are expected to do so again later in the year.
    What kind of economy is one where people cannot get their hard-earned invested properly to ensure their future.

  26. Up The Workers!

    To John A at 4.02pm

    Maybe Anne Aly is a close relative of the new Labor(sic) Leader, AnAl?

    Sounds like she needs a sign over her like the one you sometimes see over patients’ beds in hospital:

    “None By Mouth”.

  27. Roger

    Never actually served in any police or military counter-terrorism units, but read a lot of books on the subject?

    From Wiki:

    Her PhD thesis focused on media and culture, and was entitled “A study of audience responses to the media discourse about the ‘Other’: The Fear of Terrorism between Australian [RoPs] and the Broader Community”.

    That sounds like she argued that fear of terrorism in the general community is the result of media beating up on adherents of the RoP.

  28. Squirrel

    Interestingly, the argument which is being used against legislating tax cuts to take effect some years hence does not seem to apply to spending.

    Is Labor now supporting the concept of a sunset clause for all future legislated spending programs, with renewal/extension to occur only if a future parliament votes for it, and if economic circumstances make the program(s) affordable at the relevant time….?

  29. Pyrmonter

    @ IT

    Being very rough and ready, it looks a bit like money has turned the corner. Surely housing credit can’t be far behind? (either that, or rising inflation)

    https://rba.gov.au/chart-pack/images/credit-money/credit-and-broad-money-growth-small.gif

  30. The Beer Whisperer

    Repeat ad absurdum.

    Get it right, Percy

  31. custard

    Anne Aly is my local member of parliament.

    The reason she is still the local member is Clive’s Fat Bastard party got enough voters at the last election to tip the balance in favour of the filth. Their candidate Peter Westcott would have to be the most unqualified individual you would ever meet who you might expect to run for public office. An absolute disgrace!

    Rant over/

  32. min

    Walid’s cousin ,I believe. How does she explain the stockmarket rises?

  33. a happy little debunker

    John A at 4:02 pm

    “Anne Om Aly”

    The ghost of Marty Feldman lingers!

  34. Rayvic

    “she lectured in counter-terrorism .. must have been fun to attend”.

    By beefing up on terrorism, she has wittingly — or unwittingly — become an expert in economy terrorising.

  35. mareeS

    Recession doesn’t happen with 1,25% interest rates, or 4.75% mortgage rates. It sure did happen under 17.5% mortgage rates and up to 28% overdrafts. Under Labor. Been there once, that was enough.

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