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