Posted 26-11-2008
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Bottomline
by John Bown

Rumours abound about a deficit

Are we already in trouble?

That mischievous little bird told me at the weekend he had been in Canberra last week and heard that many senior public servants believed the Labor government is already in deficit and they would be asked to work overtime to hide the fact.

What’s more many of these people have a direct allegiance to the Labor Party.

The bird’s words have been supported at the weekend and yesterday by noted political commentators Michelle Grattan and Ross Gittins in the Sydney Morning Herald, who also warn that we are close to going into a financial deficit.

And the bird also suggested to me that when the ‘you know what’ hits the fan treasurer Wayne Swan will bear the blame and will be replaced by Lindsay Tanner.

There’s more. The word is also around Canberra, I believe, that Rudd won’t go his full first term but is likely to call an election sometime in 2009.

Local Libs unhappy

Members of a local Liberal Party branch are unhappy that they are not being kept informed by the party’s State secretariat or the Opposition Party leader’s own office about visits to the area from time to time by Barry O’Farrell.

The unhappiness has been around for some time now and the locals are at a loss as how to solve the situation.

New local business survey

The Illawarra Regional Information Service ( IRIS ) has contacted businesses in the area to ascertain just how the trading conditions are going out there.

In its March survey IRIS found that businesses had begun to feel the effects of falling consumer confidence in the region although trading conditions and employment levels generally had remained fairly positive.

The latest survey is seeking answers to trading and sales, capital expenditure, employment levels and the amount of overtime being paid and any difficulties in recruitment

With all the hub bub going around, mostly stirred up by politicians, the results of this latest survey should make interesting reading.

Politics is a silly game

The fact Wollongong City Council wasn’t even invited to be present at PM Rudd’s meeting with Mayors and other civic leaders didn’t matter in the long run for we received a surprise handout which proved much larger than anyone would have expected.

The Liberals are quite right to question the decision and to suggest that does this mean a council can be in disgrace and still get amongst the cash?

There’s no doubt about it politics is a silly game, and it’s getting sillier in Australia.

Another big show

The annual KidzWish Foundation’s Christmas party for disabled and disadvantaged children at the WIN Entertainment Centre last Friday attracted some 2500 affected children and when you added brothers and sisters, parents and grandparents an estimated 4000 packed the stadium for the big event.

Then at night the organisation’s special dinner and show, also at the WIN Entertainment Centre, attracted more than 600 people and once again was a top night with already many people who were there asking to be put on the invitation list again for next year.

Top line artists, the great music of Geoff Harvey and his big band, dancing and fine food helped make the night one to remember, and if the two events aren’t the biggest shows put on in Wollongong each year I don’t know what is.

Get off it Ricky

Coach Ricky Stuart’s bleating about referees after Australia’s shock loss to New Zealand in the rugby league world cup final is hard to take, and is bad sportsmanship at its worst.

Like countless others I watched the match and from start to finish it was gripping television, particularly at the start when the Aussies moved forward to face front on the Kiwis during their pre – game haka.

And it was great to see all the Aussies singing lustily our national anthem before the game. This is something you don’t often see footballers, in particular, do when the anthem is usually played.

 

John Bown has spent a lifetime writing about people and events, firstly as a working journalist in Melbourne and later as a managing editor of a group of suburban newspapers before he joined BHP as editor of its company magazine, 'The BHP Review.' A man of leisure these days John can usually be found at YOC's head office most mornings - to contact him about this column Phone (02)9516 2000.

 

Comments

Even the most recalcitrant finance types recognize the usefulness of both debt and equity ... could it just be possible that the coalition's policy of hoarding cash while the infrastructure of Australia crumbles exacerbated the current financial crises. What do you propose? Letting the economy retreat into a full blown recession / depression or fund some essential goods and services through debt / deficit financing?
by Henry Collier
27 Nov 08 02:25

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