Led by credulous morons

Coronavirus crisis projected to add $620bn to Australia’s net debt, PBO says.

Australia’s legacy of the COVID-19 crisis will be additional net debt of up to $620bn by the end of this decade, while the budget deficit will peak at nearly $200bn in the next financial year and will remain in deficit through to 2030, according to new Parliamentary Budget Office projections.

And if nothing else was proven today, everyone now knows with certainty that the lockdown past the first few weeks had nothing to do with public health and safety. Every political leader still enforcing the lockdown is only doing it to save them from the humiliation of being recognised as such credulous nitwits.

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42 Responses to Led by credulous morons

  1. stackja

    You are giving “nitwits” a bad name.

  2. Leo G

    And if nothing else was proven today, everyone now knows with certainty that the lockdown past the first few weeks had nothing to do with public health and safety.

    Any rational observer understood that from day one of the lockdown.
    Representative government in Australia is failing. Who knows what form its replacement will take?

  3. min

    Initially medicos were extremely cautious because not enough was known about the virus . It will be interesting to see how many will, be infected by the person who flew interstate with covid 19 today. Plenty of opportunity for asymptomatic people to pass it on at all the protest marches as no social distancing . Bet there weren’t any poor kids there and would like to know how many of their daddies were out of work with only centrelink.

  4. Bruce of Newcastle

    Only $25,000 for every man, woman and child in Australia.
    I wonder how long before we can pay it all back?
    Not a lot of Australians have $25,000 just lying around.
    Especially not now, after Canberra put them out of work and destroyed their businesses.

  5. Neil

    Table 4 says NET debt was MINUS $40B in 2007 ie less than zero. Since 2007 we have not run a surplus budget racking up $400B of extra govt debt with even more to come. What did we get with that $400B? Howard built more stuff running surplus budget than any govt since 2007 running deficits

    https://budget.gov.au/2019-20/content/bp1/download/bp1_bs10.pdf

  6. Watch Your Back

    Institutions I once respected but I now despise; taken over as they have been by Marxists:

    The ABC and the BBC
    The mainstream media in the USA
    Parliament – see the Brexit debates
    The Australian Senate, a blocking chamber for mediocrities
    WHO, OECD,IMF, the World Bank
    The UN
    Lawyers and Judges
    The banks
    Tech companies
    The Police
    Anglican Bishops
    Imperial College
    Universities
    Schools
    Bureaucrats
    Rugby Australia
    Tennis Australia
    The National Trust
    Scotland and Wales
    New York

    There’s not much left other than the Queen, bless her.

  7. Joanna Smythe

    $25,000 for every man, woman and child. If they started a Go Fund Me page and a few millionaires/billionaires donated, we could have that cleared by the end of the year.

  8. Roger

    The world’s most influential medical staistician has crunched the numbers and says the fact that covid-19 didn’t go exponential can only be because up to 80% of people ha dprior immunity to it due to exposure to other corona viruses. RTWT

    In other words, the lockdown was the costliest mistake in human history.

    The vulnerable should have been advised to isolate and provided with the necessary support.

    Everyone else could have gone about their business as usual.

  9. gary

    What morons are the CIA and FBI. Russiagate, their first coup against Trump failed, now their second attempt, the Antifa led riots seems to have also failed. The riots may have destroyed a lot of Democrat cities, but even Obama’s daughter recommends people walkaway from Biden.

    Watergate, the first FBI coup against a US president (Mark Felt was Deep Throat and the Deputy FBI Director) was successful, but they don’t seem to be able to get Trump (yet).

  10. Texas Jack

    The number is irrelevant. To protect the economy, and people’s lives, the compensation should be unlimited…

    This is an actual quote from Alan Kohler in the Weekend Oz. Basically he’s gone full modern monetary theorist mad.

    My (serious) question for Steve – at what point does unlimited QE become a form of theft? I mean the distribution of physical goods with dollars that have been deflated beyond repair….

  11. 2dogs

    at what point does unlimited QE become a form of theft?

    Once the inevitable bout of inflation arrives.

  12. David Brewer

    Gee this had better be wrong, like the earlier bungle on unemployment benefits, or we’re really fvcked.

    Four lessons:

    1. End all lockdown and other related Covid-19 restrictions NOW NOW NOW.
    2. Urgently set up a task force to cut regulation across the board.
    3. Abolish or trim the mandates of all investment-choking institutions at all levels of government.
    4. Don’t let governments use Covid as an excuse for running endless budget deficits. Budgets are made out of the resources governments have. If they wilfully reduce those resources, they must urgently reduce their spending to match.

  13. Squirrel

    When it materialises some time in the coming week, or so, the NSW Court of Appeal decision should be entertaining – presumably technicalities, and not so much about principles which might be inconveniently deployed by non-chanting proles to loosen their shackles.

  14. miltonf

    Watergate, the first FBI coup against a US president (Mark Felt was Deep Throat and the Deputy FBI Director) was successful, but they don’t seem to be able to get Trump (yet).

    Wow. I didn’t know that. The swamp is nothing new. What’s new is that patriots are aware of it. Nixon was treated very badly.

  15. stackja

    WaPo WoodStein Felt created Watergate. Hollywood joined in.

  16. miltonf

    WoodStein STILL hanging around like a bad smell.

  17. egg_

    It’s all very well to cry after the horse has bolted, but where were the Cost Benefit Analyses of the financial risk of proposed lockdowns amongst the Financial sector whilst political activist Doctors (e.g. a Neurologist) were “terrified” of an emerging new flu bug?

    “Silence is betrayal” – MLK Jr, fitting under the current ludicrous protests.

    Economists have been a big part of CAGW’s air tax.
    Blood on your hands.

    Folk at death’s door, like the Blackwater chap, are worth $25k for every man, woman and child in Australia?

    You.knew.the.lockdown*.would.be.expensive

    *Unnecessary in foresight, to many – not the 20/20 hindsight that we’re all gifted with.

  18. Just Passing By

    So about $6,000,000,000 per live saved. Bargain. We all know that every death is a death too many.

  19. egg_

    Initially medicos were extremely cautious

    Lockdowns were not being “cautious” – they were the most extreme measures other than welding doors shut.

    “First do no harm” in all of it’s meanings ring a bell?

  20. egg_

    $620bn

    Conservative estimate?

    What if it turns out to be $1,000bn?

    At what point did Financial Analysts say to the National Cabinet – hold off a bit on the lockdowns, they could be our undoing?

  21. egg_

    How.long.till.they.come.for.our.Super?

  22. John Bayley

    Only $25,000 for every man, woman and child in Australia.
    I wonder how long before we can pay it all back?

    The simple answer is ‘never’.

    Nobody even pretends any more.

    The politicians, after all, now have the ‘science’ behind them – it’s called ‘Magic Money Tree’ (MMT) and it says that the more the government spends, the richer we’ll all be.

    As long as the money printers can keep up, the government can never go broke.

    So I reckon they need to get serious. Everyone should just be given a trillion dollars and we’d instantly become the wealthiest nation on the planet.

  23. bollux

    Egg,
    With interest rates at next to nothing plus the assault on dividends, I think they have come for your super already. At least all those BLM morons won’t have to worry, they’ll be on the Gummint tit forever.

  24. Tel

    You.knew.the.lockdown*.would.be.expensive

    Don’t worry, government is not budget constrained when it can print the money.

    Besides inflation target, mandated blah balh gurgle.

  25. Bruce

    Why is it that one one day, “The Lancet”, the Pommy “political medicine rag” publishes this:

    https://www.abc.net.au/news/2020-06-05/hydroxychloroquine-study-the-lancet-peer-review-coronavirus/12324118

    And within 24 hours, THEIR ABCESS has a screen ribbon displayed on their Sunday morning TV “news”, to the effect that the same substance was “proven” to not CURE COVID-19?

    So, now we are being told to believe that hydroxychloroquine is HARMLESS, but INEFFECTUAL?

    Given that the stuff, which is simply a synthetic analogue of “organic” quinine, has been in regular use for decades as a Malaria suppressant, something is not quite right here. People have been using quinine, not just as a key ingredient in the afternoon G & T, but for Malarial suppression (NOT A CURE) for a considerable time.

    Yes, I am well aware that Malaria is a Plasmodium infection ( P. falciparum being the nastiest and most common of the four known “flavours”), whereas the COVID-19 bug is a virus. The catch is that COVID-19 does NOT kill or maim DIRECTLY, but stimulates the body to kill itself, usually by drowning in body fluids flooded into the lungs, a mechanism not unlike Pneumonia. That it also seems to have some direct effect on the heart is the double whammy. Bear in mind, though, that drastically reducing lung function is NOT good for the heart, (or brain), either; bug or no bug.

  26. Bruce

    Why is it that one one day, “The Lancet”, publishes this:

    https://www.abc.net.au/news/2020-06-05/hydroxychloroquine-study-the-lancet-peer-review-coronavirus/12324118

    And within 24 hours, THEIR ABCESS has a screen ribbon displayed on their Sunday morning TV “news”, to the effect that the same substance was “proven” to not CURE COVID-19?

    So, now we are being told to believe that hydroxychloroquine is HARMLESS, but INEFFECTUAL?

    Given that the stuff, which is simply a synthetic analogue of “organic” quinine, has been in regular use for decades as a Malaria suppressant, something is not quite right here. People have been using quinine, not just as a key ingredient in the afternoon G & T, but for Malarial suppression (NOT A CURE) for a considerable time.

    Yes, I am well aware that Malaria is a Plasmodium infection ( P. falciparum being the nastiest and most common of the four known “flavours”), whereas the COVID-19 bug is a virus. The catch is that COVID-19 does NOT kill or maim DIRECTLY, but stimulates the body to kill itself, usually by drowning in body fluids flooded into the lungs, a mechanism not unlike Pneumonia. That it also seems to have some direct effect on the heart is the double whammy. Bear in mind, though, that drastically reducing lung function is NOT good for the heart, (or brain), either; bug or no bug.

  27. Struth

    Letting them off as idiots and morons when all that has now come to light is pure hopeful gutlessness.

    These people have destroyed and imprisoned and isolated millions of Australians which they claimed was about concern for our health, and it required disgusting scenes of moving single people from beaches, and parks, taking one woman with a baby and a sign and arresting her for fear of “covid” spread, and then an anti western protest comes along with communists organising it, and they get authority from the government to do what they like.
    And people still, still, call them just morons?

    FMD, you guys love having your head stuck in the fucking sand.
    Trouble is, they can still fuck you up the arse in that position.
    Wake up and smell the shit.

  28. Trax

    So “We are all in this together” except government who will keep going on their merry way spending loads of taxpayer money without even the slightest hint of slowing down.
    They simply do not care at all.

  29. Leo G

    Roger posted on June 6, 2020 at 7:24 pm

    The world’s most influential medical statistician has crunched the numbers and says the fact that covid-19 didn’t go exponential can only be because up to 80% of people ha dprior immunity to it due to exposure to other corona viruses.

    Today, though, the presence of some level of prior resistance and immunity to Covid-19 is fast becoming accepted scientific fact. Results have just been published of a study suggesting that 40%-60% of people who have not been exposed to coronavirus have resistance at the T-cell level from other similar coronaviruses like the common cold.

    It was evident throughout the pandemic that most people had some kind of special resistance to CV-19 beyond natural immunity and that the most likely explanation was that its precursor was a coronavirus that has been transmitting through global human populations for some time, including in the past several years.
    A strain of that virus very abruptly acquired multiple changes to its “spike” proteins which facilitated its entry into lung tissues.
    The altered strain however did not transmit unconstrained in human populations, however, until its release in an incident in Wuhan, China.

  30. Kneel

    “…at what point does unlimited QE become a form of theft? ”

    You heathen!
    Experts have spoken, don’t you know. Experts, I say! All with one voice – “spend, spend, spend!” they say. “It’ll fix the problem” they say.
    Now, unless you have qualifications and a progressive argument against this – you know, “social justice” or “climate” or “racism” or “hetero-normative authoritarian hierarchy” – then shut up, you’re just a dumb pleb, you should listen to my mainstream experts, not those fringe nutters / paid shills you quote. How could you possibly believe people who have long experience of the real world of capitalist survival, when I’m showing you cutting edge theory from professors who have no related KPI’s to keep their feet firmly in reality? You must be a paid apologist for greedy corporations! I’ll post on twitter, then you’ll be in real trouble buddy – no-one who thinks correct thoughts will listen to you then, loser! Antifa will come after you. Greenpeace too. Ha ha – you’re gorn!

  31. Professor Fred Lenin

    The Lockdown and rapidity of respones to the spread of the Chinese Barnier disease has no doubt accounted for the small number of deaths we have had . Scotland for example with one quarter of our population has had in excess of 2,300 deaths attributed to covid,against our 103 the answer is in the figures . I would say an inquiry i to this discrency should be done by the UK government ,and other governments .
    I call it the Chinese Barnier disease becaus Barnier the EU negotiator on Brexit ,was instrumental in sending 40 French scientists to Wuhan to help establish a virus lab ,againts the advice of French Security and prominent Scientists . He was French Foreign minister at the time ,arrogant prick .

  32. And if nothing else was proven today, everyone now knows with certainty that the lockdown past the first few weeks had nothing to do with public health and safety.

    So what was it all about, old mate?
    A dastardly conspiracy?
    Use your imagination……

  33. Leo G

    So what was it all about, old mate?
    A dastardly conspiracy?
    Use your imagination……

    Dastardly perhaps, but not a conventional conspiracy.
    It appears to have been more about fear- fear by the political class of being held responsible for the fulfilment of the epidemiologists’ wet dream.

  34. Rex Anger

    So what was it all about, old mate?
    A dastardly conspiracy?

    Hanlon’s Razor, comrade:

    “Never attribute to malice what can be adequately explained by stupidity.”

    You were a Public Servant, comrade. The Public Service has long been notorious for such behaviour…

  35. Neil

    Don’t worry, government is not budget constrained when it can print the money.

    Besides inflation target, mandated blah balh gurgle.

    It is amazing how easily deceived some people are. Apparently having a sovereign currency means normal laws do not apply for people who believe in MMT

  36. Crossie

    In other words, the lockdown was the costliest mistake in human history.

    The vulnerable should have been advised to isolate and provided with the necessary support.

    Everyone else could have gone about their business as usual.

    But if that happened we would never have known the names of CMOs or that they even existed. And now they are media stars and drunk with power.

  37. egg_

    So what was it all about, old mate?

    @rse covering – No. 1 on the agenda to the dimmest of politicians.

    Howard
    Costello
    Nelson
    Abbott

    Morrison

    SloMo is a loooooooong way down the LNP batting order, Comrade, and a clueless buffoon – a gift to the Left.

  38. egg_

    With interest rates at next to nothing plus the assault on dividends, I think they have come for your super already. At least all those BLM morons won’t have to worry, they’ll be on the Gummint tit forever.

    Didn’t One Million People (who were eligible due to the lockdown killing their jobs) avail themselves of up to $10k of their Super, enabled by the Govt?

    That’s $10bn wiped off Super that the Govt didn’t have to outlay in benefits.
    With the same deal again in July?
    That’s $20bn total wiped off Super that the Govt didn’t have to outlay in benefits.
    The ALP are recommending that the Govt keep benefits up longer than 6 months – they know what damage has been wrought to the workforce over this monumental fvckup.

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