Agmates

Leader of the Nationals in the Senate Barnaby Joyce [pictured] writes:

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The exam results are in and show negative growth of 0.5 per cent. Not surprisingly it has become apparent that Rudd Labor’s fiscal stimulus package was not so much a stimulus as a waste of money.

It is money we can ill afford especially considering it is those same funds that will be required later on to sustain the provision of basic services and alleviate the requirements of those who will lose their job in this financial crisis.

Boeing, Anglo Coal, Pacific Brands, Bosch and Lend Lease have already announced job losses. Rather than put the wealth of the Australian people as represented in our previous surplus to work in the construction of infrastructure to take on board some of those who are out of work, Mr Rudd and Mr Swan in their manic spending packages have decided to return to the casino in some vain attempt of quadruple or nothing to get the money back.

They say a fool and their money are soon parted friends. The unfortunate thing is it wasn’t Mr Swan’s money but that of the Australian taxpayers.

How could he possibly think that ceiling insulation, boom gates and school halls could even vaguely compare to such projects as the inland rail between Gladstone and Melbourne which would create a new corridor of commercial opportunity and alleviate port bottlenecks or the completion of the missing link between Moranbah and the Abbot Point coal loading facility, a mere 69 kilometres of rail, which the Queensland Labor Government in their infinite wisdom have mothballed.

What about the obvious question continuously asked by all Australia, why are we not moving the water from the Gulf into the Murray-Darling?

All the Labor Party have suggested for us is an Emissions Trading Scheme which is a government policy that far from alleviating the financial crisis will exacerbate it.

There will be people who will have the locks changed on their house after it is repossessed by reason of them losing their job because of that government economic policy.

When will the Labor Government decide to stand up for working families?

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Prime minister Kevin Rudd and Treasurer Wayne Swan can spin it how they like, but today’s GDP figures showing a contraction of the Australian economy of 0.5% for the December quarter show the one off sugar hit was a total waste of our cash.

The Rudd Government’s quick efforts to pump-prime the economy with budget handouts and the Reserve Bank’s rapid interest rate cuts had no hope of resisting the full impact of the global crisis.

The big political debate will be whether Canberra’s quick blowing of the budget deficit was worth it.

Clearly, households cared more about paying off their debts than splurging their government handouts in the initial wake of the crisis.

The really interesting thing is that Agricultural exports were the only sector to grow. They added 0.3 increase to GDP. In simple terms if Ag had just stayed flat – the GDP would have contracted by 0.8%.

Amazing, it does not seem to matter how politicians try and kill our Ag industry it just keeps bouncing back. You know one day politicians and the Australian media & public might just have to admit that Australia still does ride on the back of our food and fibre producers.

Ahhh but that would be to cringe worthy for all those folks to admit any time in the near future.

Full Wrap of GDP figures for all of you detailed folks.

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Nationals Leader in the Senate Barnaby Joyce writes:

It is game, set and match and the Rudd Labor Government doesn’t have a clue what they are doing.

In their first 12 months in office we have gone from a $21.6 billion surplus to a deficit and if it’s not apparent now it will be once we take into account losses in the value of shareholdings in government-based funds that have not been booked since September 30.

What is particularly galling about this problem is that we are in a deficit by reasons of an ill-conceived $10.4 billion stimulus package which will have a negligible effect on stimulating the economy. Australian Christmas spending will not kick-start the global economy.

If we had instead spent the funds on infrastructure projects we would experience an increase in activity as firms prepare to build the project, a stimulation in wage and salary income during the construction of the project, an income stream from the creation of the project and it would result in an asset to sell to recoup the funds as required at a later stage.

Unfortunately in place of this we have $8.7 billion to appear in banks from December 8, to disappear into imported electronic goods, alcohol and some gambling. The more prudent will save it which, of course, means there is no stimulant effect as the money is locked up.

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You don’t have to be a body language expert to work out whats going on between Australian Prime Minister Kevin Rudd and US President George Bush.

Kevin is a foolish little man.

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My mum tried to teach me as a child that I should never say anything about someone that I would not not say if they were in ear shot.

Australian Prime Minister Kevin Rudd is in Washington at the G-20 conference and has had an awkward and brief meeting with US president George Bush.

US PRESIDENT George W. Bush appeared standoffish as he greeted Prime Minister Kevin Rudd at a G20 working dinner today.

It was the first time the pair have met in person since the controversial leaking of a phone conversation between the men last month.

The normally gregarious president gave Mr Rudd a very business-like greeting at the entry to the White House.

While other world leaders got big smiles and pats on the back from Mr Bush, the Australian prime minister had to make do with a brief handshake and a relatively stony face from the president as the pair posed for photographers and TV crews.

Rightly so, the PM no doubt feels a little embarrassed by having to front the US President after the leak that made out that Rudd had to explain to Bush what the G-20 was.

The Australian Newspaper is stringently maintaining today that the story is correct. They shoiuld know as the Editor Chris Mitchell was at the Kirribilli diner.

The contentious part of Franklin’s story revealed that during the 30-minute conversation, Mr Rudd was stunned to hear Mr Bush say: “What’s the G20?” We stand by the story with confidence.

I think our ‘wannabe world leader’ of a Prime Minister today in the hallowed halls of Washington is wishing his mum had given him the same advice as my mum gave me. Maybe Mrs Rudd did, but Kevin just didn’t listen.

Not only is fronting George Bush an uncomfortable situation for our PM to be in, its also politically dangerous. Australian culture has a very low tolerance of those who are ‘big noter’s’ especially at the expense of others even if they are the US president.

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John Mikkelsen [pictured] writes:

EVER wonder who you should be pointing the finger of blame at over the world’s deepening economic crisis?

America, the world banks, stock market greed, all of the above? No.

According to so some Pommy journalists, you can blame our own Aussie hard rock exports, AC/DC.

Now you might think either I or these Poms writing in such highbrow publications as The Guardian, have been doing what mad dogs and Englishmen are famous for. But Angus, Malcolm, Brian and co have been linked to every economic downturn in the UK and other parts of the world since they first rose to fame way back in the 1970’s.

It’s true -- whenever AC/DC have been Back in Black so to speak, with a hit riding high in the charts, the UK and many other world economies have been well and truly in the red.

Here’s what one recent report said:

“Financially, the country’s already on the Highway to Hell, but that has not stopped the British from pointing the finger of blame at AC/DC.

The ageing Aussie rockers have hit the top of the UK album charts for the first time in 28 years with their latest and 18th album Black Ice, outselling their nearest rival, Kaiser Chiefs, at a rate of two to one.

But the British press have analysed the last times the heavy rockers hit the spot and found a link to their big selling records and an economy teetering on the brink of recession.

When they formed in Australia in 1973, the economies of the Northern Hemisphere were being tested with the beginning of the oil crisis. AC/DC’s breakthrough Back in Black topped the charts in 1980 as inflation in the UK hit 20 percent and unemployment came close to the psychologically unsettling two million mark.

As the economy recovered, the band’s popularity diminished, but again they made a mark on the album charts in 1990 with Razor’s Edge, again before the worst recession in a decade.

Black Ice has already sold more than five million copies and the British economy is suffering negative growth for the first time in 16 years; expect to see two million people out of work and the sterling has crashed to a 20 year low…”

Well, it’s been a long way but Angus and the boys are also bound for the top again here in Australia and we all know what’s happening to our economy and our dwindling budget surplus as Treasurer Wayne Swan warns there could be worse to come.

Maybe he, Kevin Rudd, US President-elect Barack Obama and the heads of the other G20 nations should listen up and chart their economic strategies to AC/DC’s release schedules.

Maybe they should be invited to perform at the upcoming economic summit where they could inspire delegates by belting out some inspirational tunes such as Long Way to the Top and You Shook Me, with Back in Black as an encore.

Seriously folks, The Guardian article surmised that in tough economic times, people sought out culture that was uncomplicated and dependable,

“and rock music has never produced a band so uncomplicated and dependable as AC/DC.”

Amen.

And even better news, they are soon coming to a pub near you. Sorry, I made that bit up, but I see that tribute band Acca Dacca is indeed headed our way soon so I guess if you want to let off some steam, forget about your dwindling superannuation funds and the diving Aussie dollar, that could be your answer.

Just don’t ask the Angus, Brian and Malcolm clones when they expect the economic Hells Bells to stop ringing or you might cop more than a blank look.

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Incidentally, even Queen Elizabeth has now asked why no world leaders foresaw the world’s escalating economic crisis. Heavens knows the warning signs were there and a couple of British comedians, John Bird and John Fortune, actually gave a very clear picture of what was about to happen in a video they made about the sub- prime loans crash around 12 months ago.

Already featured on Agmates and you can also find it on YouTube and other sites -- hilarious if it wasn’t so true.

Back in Black live live at ‘No Bull’ in Spain.

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Rural and regional Australia is once gain a winner as Prime Minister KEVIN Rudd moves boldly to bolster economic activity and insulate Australia against the worst effects of the Global credit crisis.

On the back of announcing last weeks $10.4 biilion cash stimulus of which 2.9 million rural and regional Australians will pocket $4 billion the PM last night announce $600 million will be fast tracked into spending on small local infastucture projects.

The Commonwealth will pump $600 million into local councils to deliver small projects that are set to go in a bid to boost rural & regional economies and shield local communities from job losses that may happen as the impacts of the Global credit crisis hit.

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“Australian Local Government Association president Paul Bell [pictured] said local governments could get started on the backlog of public works projects almost immediately.

“We have got the plans, we have got the designs, we know the priorities,” Mr Bell said.

“In many cases, this is spending we have had to continually defer, so this money could hit the ground very, very quickly.

Body: “It would boost local economies and replace and maintain the kind of infrastructure that really provides the glue for these communities.”

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The new funding program will be targeted at public infrastructure, such as sports grounds, libraries, transport systems, community halls, bridges and local roads. None of the money be available to private business as it was under the Howard governments much criticized Regional partneship scheme.

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In 2006, the Australian Local Government Association commissioned a report from PricewaterhouseCoopers that found there was a $14.5 billion backlog in necessary spending on local government infrastructure.

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The Howard government for the large part left rural and regional Australia to ‘die on the vine’.

So for moving boldly to begin to address the neglect of infrastructure in local communities the PM wins his second Agmates “Onya” in last 7 days.

A big Thumbs up from the Agmates community.

“Onya” Kevin.

I must say the PM’s bold actions over the last two weeks have me feeling better about my decision to vote Labor at the last election.

Thats not to say I’m smart – I mean I’m ashamed to admit it but I did vote for Hansen in the Senate. All that achieved was helping her get a $200,000 tax payer funded cheque.

As I was to discover after the election, she’d been too distracted by a relationship to do any serious campaigning – but happily took the cheque because mugs like me were duped into believing she was busting to get into the Senate and work for rural & regional Australians.

As it worked out we have ended up with two Independent Senators, Fielding and Xenophon who are doing a tremendous job looking after the interests of rural & regional Australians.

As far as Hansen is concerned – Never again.

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Four days ago Agmates published an article saying the Global Credit Crisis was threatening our Beef exports to Russia.

Our reliable sources told us that the crisis had battered the big Russian bear and as a result was causing real difficulties for exporters to what has grown to be our fourth largest market.

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Driving the slump in Russian demand has been the credit crisis and the fall in the A$, which has reportedly caused a number of importers to walk away from, or seek to renegotiate, contracts made under the higher A$ for product in transit.

The impact of the current credit crisis is also being felt, with many Russian importers reportedly unable to secure credit to meet existing contracts or purchase new product.

It is likely the large and high priced beef stocks in Russia and the higher priced product on the water will need to be cleared before Russian importers re-enter the market. This could take until early 2009.

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Source MLA.

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The Global Credit Crisis has dominated the news for the month, yet there has been virtually nothing written or said by Agriculture Industry leaders on the impacts on, or consequences for our rural industries.

Yesterday Federal Agriculture Minister Tony Burke [pictured] finally took a leadership role by summonsing representatives of Agricultural groups, accountants, the National Rural Advisory Council, ABARE and the big banks to Sydney for a crisis summit.

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“After the meeting, Mr Burke said bank representatives - including those from the big four banks – had given him and farmers assurances the financial meltdown would not swallow up this month’s interest rate cut, or block access to credit.

(I was) able to find out for the farmers … directly from the banks, that in the immediate term they are still open to business, that they are still providing credit to Australia’s farmers,” he said.”

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Farmers now want to know what the outlook is as commodity prices tumble and farm input costs soar. Minister Burke is gloomy in his outlook:

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“We still don’t know what the impact will be on global demand for Australian exports,” he said.

“Certainly it’s true that most farm inputs, such as fertiliser, such as chemical, such as fuel are imported, and so the lower dollar has an impact there.

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On top of these woes Australian farmers are waiting for the minister to spell out to the industry what the financial impacts will be of the proposed emissions trading scheme. Those impacts will be a double whammy as countries like the USA and the EU are expected to increase subsidies to their farmers and impose import tariffs on Australian Ag exports.

The Agmates community looks forward to Minister Burke now providing our Rural industries with strong and decisive leadership as we move forward in these unprecedented times of global economic turmoil.

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Have Your say! Has your bank passed on the interest rate cut yet?

The Federal Governments Economic Stimulus package is great news for those living in Rural and Regional Australia.

Just on $4billion dollars of the $10.4 billion package will finds its way into the hands of 2.9 million of rural and regional Australian’s.

A Joint Press Release from the Prime Minister and Minister for Agriculture Tony Burke sets out who gets what:

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2.9 million Australians in regional and rural areas with around $4 billion in extra support to help with cost of living pressures and sustain economic growth.

Pensioners, carers and families living in rural and regional Australia will benefit from additional financial assistance from 8 December.

Almost one million families in regional and rural Australia who receive Family Tax Benefit A will receive a lump sum payment of $1,000 in respect of each eligible child in their care.

The payment will also be made for each dependent child who attracts Youth Allowance, Abstudy, or a Veteran’s Children’s Education Scheme payment.

Around 1.9 million pensioners living in regional and rural Australia will receive a one-off payment of $1,400 if they are single or $2,100 if they are a couple.

Recipients of the following payment will be eligible:

* Age Pension;
* Carer Payment;
* Disability Support Pension;
* Bereavement Allowance, Wife Pension, Widow B Pension, Partner Allowance, Widow Allowance;
* Special Benefit;
* Veterans’ Affairs Service Pension; and
* Veterans Income Support Supplement.

As well, those receiving Carer Allowance will receive $1,000 for each eligible person in their care.

The Government’s economic package also includes help for self funded retirees in regional and rural areas seriously affected by the decline in the value of their investments.

In all 130,500 Commonwealth Seniors Health Card holders living in regional and rural Australia will receive a payment of $1,400 if they are single or $2,100 if they are a couple.

For the first time, lump sum payments are being extended to include 391,000 Disability Support Pensioners under the age of 65 living in non-metropolitan areas.

All payments will be tax exempt and not included for income-testing purposes.

Thousands of Australians in regional Australia will also benefit from the Rudd Government First Home Owners Boost.

* First home buyers who purchase established homes will have their grant doubled from $7,000 to $14,000;
* First home buyers who purchase a newly constructed home will receive an extra $14,000 to take their grant to $21,000.

The Rudd Government initiative is designed to stimulate housing activity and give first home buyers a better chance in the housing market.

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Rural and regional Australia has been suffering badly and this assistance will be a major boost to rural & regional communities. Well done Labor.

Kevin Rudd & Wayne Swan richly deserve praise for using part of the Budget Surplus to give people outside the Capital cities a much needed financial boost.

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