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EYE-BALL’s Guru on – Wayne Swan’s legitimacy – He Says … ‘high A$ causes $7.5b hole since Oct ’12’ – He’s a unique type of idiot –

Latest GURU Posts:

– 14th Apr – The Debt Clock ticks … Tic Toc … – Gillard just spent another $3,000 – counting the real cost of this ALP Disaster –

– 5th Apr – Superannuation 2013-14 –  the Government’s new Slush Fund – Proposed Changes show SWAN and SHORTEN’s stupidity –

– 4th Apr – Australia’s Parliamentary Remunerations –
– Part III – Superannuation – The Future Fund –

– 3rd Apr – Government not happy about its tax collect – Claims Tax Minimisation deserves ‘Naming and Shaming’ –

– 31st Mar – The Cyprus Bail-out

– 31st Mar – Australia’s Debt – and the idiots Managing the Treasury –

– 20th Feb – Australia’s Parliamentary Remunerations – Part II – Entitlements and Allowances –

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– 31st Jan – The Devil is in the Detail, there is none – Gillard chooses shock, awe & Spin over Policy –

– 23rd Jan – The Turmoil is Already here – We just have to accept what is coming –

– 22nd Jan – The Turmoil is beginning – Japan’s Economic Stimulus to tip the scales –

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– Wayne Swan’s legitimacy – He Says …
– ‘high A$ causes $7.5B hole since Oct ’12’ –
– He’s a unique type of idiot  –
| Author: EYE-BALL Guru | 22nd Apr 2013 |
Aslow death is something everyone dreads … yet Wayne Swan is inflicting to most horrible of deaths to the Australian economy …

This boofhead of all the boofheads who served as the Australian Treasurer, and there are only a few who don’t deserve the tag, has stated publicly that the high A$ value has impacted on the current budget to the tune of $7.5 billion.

Only an idiot with supreme lunacy would try to tell the Australian public such a fabrication.  To believe the realness of Swan’s comments – see ABC story here

To highlight Swan’s lunacy even further look to the charts below …

Chart 1:

Click on chart to enlarge in a new window.

The mean average for the period of the above chart is A$1.0391, and by comparison in Chart 2 below, the mean average since the A$ was floated in late 1983 has been A$0.7535.

Swan wants to argue that a $7.5 billion hole in the 2012-13 budget because of the ‘high A$’ as demonstrated in Chart 1 above.  The chart shows a high and low of +/- A$0.2000 over the period … The evidence proves Swan is completely wrong and so far out of his depth trying to explain his budget shortfall.

His revenue writedowns has been his excuse since the surplus backflip in Dec 2012 – now he is using the high A$ value … both are completely off the mark …

The Chart 2 below shows the A$ v US$ since 1998.  A question some financial journalist should ask Mr Swan is ‘what is the total cost to the Australian economy since 2001 where the levels of the A$ were sub A$0.50c …

More importantly … why has the RBA and successive Government’s and their Treasurer’s sat back and allowed the rest of the world to rape and pillage our economy through a high A$ policy?

Chart 2:

Click on chart to enlarge in a new window.

To not make too finer a point – Swan states that in a range of $1.01 to $1.06 in the space of six months, the budget impact was $7.5 billion.   In a logical context … a rising A$ range of A$0.47 – A$1.10 over 14 odd years, with a mean average of A$0.75c since the A$ was floated, would equate to what cost in Government revenues … and that my friends is an equation that Treasury will not tell you … the answer would make all Australians cry.

Costello and Swan with aid from a vintage thinking RBA have cost Australians trillions in reduced A$ receipts from exports and all the commercial benefits of a devalued A$ … yea that’s right A$TRILLIONS …

This is the greatest asset strip from a Nation in a so-called peacetime environment … and done in full view of supposedly smart and savvy people … our Treasury bureaucracy needs a staff cleanout and restaffed with people who understand modern finance and the global economic marketplace.

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Have your say where it counts: – contact your Local Federal Representative via the links below and let them know how you feel about this, or any other topic that you feel strongly about – or you can just post a comment below and let off some steam.

The EYE-BALL Guru …

  1. david the pragmatist
    April 21, 2013 at 7:05 pm

    Concise and accurate critique, so glad to see you made the points and refer them to a reference if they required more information.
    Personally I did not need the references, I already knew that Swan was the “real dill”.
    One of the delights for me at the upcoming election will see him losing his seat. I would intensely dislike him to have any “positive memories” to his contribution of the ruination of our economy. If that is confusing the guy is so dumb I suspect that he would see the tanking of the economy as “not his fault”
    Unfortunately he won an award in an era where the worlds finance ministers were the equivalent to the magnitude of disaster that has befallen to the worlds economy and the ignorance of the voters of such an award were an indication of the worlds economic management through recent times.
    Mr Swan please understand that your contribution to the waste of what should have been one of this nations greatest periods is the equivalent of ” Homer Simpson” running a nuclear power plant.
    At least “Homer did it with humour” and knows he is an idiot.

  2. julia
    April 24, 2013 at 1:38 pm

    oh david your comment was marvellous was wondering do you take cream with your coffee

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