Australia hands out $1000 cash to 500000 consumers

[bungee]

http://www.guardian.co.uk/business/2...australia-cash

Australia's government began to hand out more than A$8bn (£3.6bn) in cash to consumers ahead of Christmas, but some analysts say the money may not be enough to stop the country from sliding into recession.

The government's cash payments worth A$8.7bn, or about 0.9% of GDP, give 2 million families A$1,000 for each child, and give four million pensioners more than A$1,000 each. Payments will be made over two weeks.

http://www.news.com.au/adelaidenow/m...017247,00.html

The message from Prime Minister Kevin Rudd yesterday was to "go out and spend the money", but spend it wisely.

[GRG55]

Re: Australia hands out $1000 cash to 500000 consumers

http://www.guardian.co.uk/business/2...australia-cash





http://www.news.com.au/adelaidenow/m...017247,00.html

Interesting. Wasn't Rudd the leader that ran on a platform of distancing himself from the policies of the United States? Now we have auto industry bailouts and stimulus cheques in the mail Down Under. Wonder what's next? "Infrastructure economic recovery package"?

This is turning into a "coordinated global policy response" more by default than organized cooperation.

[LargoWinch]

Re: Australia hands out $1000 cash to 500000 consumers

Interesting. Wasn't Rudd the leader that ran on a platform of distancing himself from the policies of the United States? Now we have auto industry bailouts and stimulus cheques in the mail Down Under. Wonder what's next? "Infrastructure economic recovery package"?

This is turning into a "coordinated global policy response" more by default than organized cooperation.

I think we may get the same treatment this week (in Canada), but with a 50bps rate cut to boot.

Print baby print!

[GRG55]

Re: Australia hands out $1000 cash to 500000 consumers

I think we may get the same treatment this week (in Canada), but with a 50bps rate cut to boot.

Print baby print!

Well now that the Loonie is staggering backwards, might as well pile on and bury it [for the benefit of Buzz and the boyz in Oshawa].

[Actually I think we may see a short-lived rebound in the Cdn $, commodities and "infrastructure" equities on the back of a dead cat bounce in the stock markets].

[don]

Re: Australia hands out $1000 cash to 500000 consumers

I love the bit about "Empowered Consumers". Belongs right up there with another great and enduring piece of propaganda- Ending Our Dependence on Foreign Oil. :rolleyes:

[tastymannatees]

Re: Australia hands out $1000 cash to 500000 consumers

LOL, I have a customer on a shoestring in Australia and he buys electronic materials from me for resale. He just increased his order $1000 With the $1000 dollars he is getting - too bad the government did not give him 10K

[GRG55]

Re: Australia hands out $1000 cash to 500000 consumers

I love the bit about "Empowered Consumers". Belongs right up there with another great and enduring piece of propaganda- Ending Our Dependence on Foreign Oil. :rolleyes:

We should start a list of these. I'll propose adding "Ownership Society"...:p

[don]

Re: Australia hands out $1000 cash to 500000 consumers

We should start a list of these. I'll propose adding "Ownership Society"...:p

The Devil's Dictionary of Financials