The Daily Wire: IMF May Classify Aussie, Canada Dollar as Reserve Currencies - The Daily Wire

Jump to content

Page 1 of 1

IMF May Classify Aussie, Canada Dollar as Reserve Currencies

#1 User is offline   Amber Dekstris 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 156
  • Joined: 26-January 11

Posted 20 November 2012 - 07:42 AM

"The IMF plan comes as Australia and Canada have shown more signs of stability in the fallout of the 2008 financial crisis than the world’s biggest developed economies. While the U.S., to the U.K. to Japan have been coping with increasing debt loads, deficits in Canada and Australia are forecast to be below 5 percent of gross domestic product in 2012 and are expected to shrink."

http://www.bloomberg...currencies.html
Register so you can post replies with ease and remove this message.
Already registered? Please login now to make this message go away.
Log in with Facebook Log in with Twitter

0

#2 User is offline   Neil 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 83
  • Joined: 13-January 11
  • LocationQld

Posted 25 November 2012 - 08:57 AM

But the Australian economy is in the shit just look at the media reports.
And the carbon tax will destroy us just ask Tony Abbott
We are massively in debt just ask Joe Hockey
How could the world markets and the IMF get it so wrong?
Register so you can post replies with ease and remove this message.
Already registered? Please login now to make this message go away.
Log in with Facebook Log in with Twitter

0

#3 User is offline   longweekend58 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 577
  • Joined: 04-April 12

Posted 02 December 2012 - 03:36 PM

View PostNeil, on 25 November 2012 - 08:57 AM, said:

But the Australian economy is in the shit just look at the media reports.
And the carbon tax will destroy us just ask Tony Abbott
We are massively in debt just ask Joe Hockey
How could the world markets and the IMF get it so wrong?


relative statements can be wonderful things. In africa, being able to feed, clothe and educate your family makes you one of the '1%' while here it could still make you the bottom 10%. Australia is stll significantly better off than the rest of the world in 2012, but it was just as true in 2007 when our debt was 0% of GDP. Being best by a full lap sounds less impressive when you consider that we were TWO laps ahead 5 years ago.
Register so you can post replies with ease and remove this message.
Already registered? Please login now to make this message go away.
Log in with Facebook Log in with Twitter

0

#4 User is offline   Bam 

  • Advanced Member
  • View blog
  • Group: Moderators
  • Posts: 3205
  • Joined: 13-January 11
  • LocationMelbourne

Posted 02 December 2012 - 07:14 PM

View Postlongweekend58, on 02 December 2012 - 03:36 PM, said:

Being best by a full lap sounds less impressive when you consider that we were TWO laps ahead 5 years ago.

This is a very dubious analogy. It suggests that the net debt in Australia grew by a lot more than these other countries and in five years that Australia would be in the same position as these other countries. This is nonsense.
Register so you can post replies with ease and remove this message.
Already registered? Please login now to make this message go away.
Log in with Facebook Log in with Twitter

0

#5 User is offline   longweekend58 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 577
  • Joined: 04-April 12

Posted 03 December 2012 - 01:01 PM

View PostBam, on 02 December 2012 - 07:14 PM, said:

This is a very dubious analogy. It suggests that the net debt in Australia grew by a lot more than these other countries and in five years that Australia would be in the same position as these other countries. This is nonsense.


If you want to be pedantic then Australias <0 nett debt grew at a significant rate comparef to others. but the point of the point (which is rarely able to polevault the ideological barriers) is that Australias debt level being significantly better than other countries is not a Rudd/Gillard acheivement.
Register so you can post replies with ease and remove this message.
Already registered? Please login now to make this message go away.
Log in with Facebook Log in with Twitter

0

#6 User is offline   GoddyofAus 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 41
  • Joined: 17-December 12
  • LocationQueensland

Posted 17 December 2012 - 10:21 PM

Don't be too surprised by Longweekends finesse with spinning everything around to give Labor absolutely no credit for Australia's current position. He has a knack (see: fetish) for it.

The IMF is welcome to do what it likes with our currency, provided it doesn't put us in a position to be some sort of Noahs Ark when the world sinks below its self inflicted flood of debt.
Register so you can post replies with ease and remove this message.
Already registered? Please login now to make this message go away.
Log in with Facebook Log in with Twitter

0

Share this topic:


Page 1 of 1


Fast Reply