Quoted by: Ross Greenwood  of Money News..

 

Right now the Federal  Government is at pains to tell everyone -  including us the mug-punters and the  International Monetary Fund, that it will  not exceed its own, self-imposed, borrowing  limits.

 

How much?    $200  billion.   And here's a worry.  

      

If you work in a bank's  money market operation; or if you are a  politician; the millions turn into billions and  it rolls off the tip of the tongue a  bit too easily. but every dollar that is  borrowed, some time, has to be repaid. By you,  by me and by the rest of the  country.

 

Just after 5 o'clock tonight I  did a bit of math for Jason Morrison ( Sydney  radio presenter). But it's so  staggering its worth repeating  now.

 

First thought; Gillard, Swan, Wong,  before that Rudd, all of the Labor Cabinet, call  these temporary  borrowings, a temporary  deficit.

 

Remember Those Words :  Temporary  Deficit.

 

The total Government debt  will end up around $200 billion.

So here's a  very basic calculation  .. I used a home  loan calculator to work it out..... it's that  simple..

$200 billion is $2 hundred thousand  million.

 

The current 10 year Government  bond rate is 4.67 per cent. I worked the loan  out over a period of 20 years. Now  here's where it gets scary ....  really scary.

 

The repayments on $200  billion, come to more than one and a quarter  billion dollars - every  month - for  20 years. It works out we - as taxpayers  - will be repaying $15.4 billion in interest and  principal every year .. $733  for every man woman and child - every  year.

 

The total interest  bill over the 20 years is - get this - $108  billion.

 

Remember, this is a Government,  that just 4 years ago, had NO debt…….. NO Debt!

 

In fact it had  enough money to create the Future Fund, to pay  the future liabilities of public servants'  superannuation, and it had enough to stick  $20 billion into the Building Australia Fund  .....

 

A note was sent to me which  explains that the six leading members of the  Government, from Ms Gillard down, have a collective  work experience of 181 years, but only 13 in the  private sector.

 

If you take out of those  13 years the number that were spent as trade  union lawyers, 11, only two years were spent  in the private sector.

 

So out of those  181 years:

 

- no years spent running their  own business  

- no years spent  starting their own business

- no years spent  as a director of a family business or a  company

- no years as a director of a public  company

- no years in a senior position in a  public company

- no years in a senior  position in a private company

- no years  working in corporate finance

- no years in  corporate or business restructuring

- no  years working in or with a bank

- no years of  experience in the capital markets

- no years  in a stock-broking firm

- no years in  negotiating debt facilities with banks

- no  years running a small business

- no years at  the World Bank or IMF or OECD

- no years in  Treasury or Finance.

 

But these people  have plunged Australia into unprecedented debt.

 

Well,  in a way you can't blame them.

It's clear the  electorate did not do their homework, because  the Government is there by right.

 

Ah, but  they are Labor and people vote for them because  Labor is good for the working family -  right???

 

If you have read this you may  like to pass it on to your friends to help  educate a little as you, them and I, will  be repaying the  above.

 

 

(And Rothschild’s chortling into his wallet – and his vault – and of course into his computer, where the loan was created in the first place, at the click of a few keys. Why can’t we do the same?)

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From: Admin

To: bellringer@fourwinds10.com

Sent: Friday, March 23, 2012 5:43 PM

Subject: FW: The WRECKERS!