Hahahahaha That gave me a good giggle. :LOL:

Exactly Merv, And the US Government shelved out $trillions rescuing failing industries including banks, GM etc. It never ceases to amaze me that Company Boards boo-hoo socialism (whatever the interpretation) yet have no hesitation to approach governments for support when the chips are down. The use of the word in an emotive notion of being related to communism or Marxist has long gone. Very old school as most governments of today utilize a mixed economy, major parts of which are Socialist by definition.

It would surprise Bernie that the UK government in 1945 was strongly accused of being Socialist.

Extract from Wikipedia:
In the biography of the 1945 UK Labour Party Prime Minister Clement Attlee, Francis Beckett states: "the government... wanted what would become known as a mixed economy".[16] Beckett also states that "Everyone called the 1945 government 'socialist'." These governments nationalised major and economically vital industries while permitting a free market to continue in the rest. These were most often monopolistic or infrastructural industries like mail, railways, power and other utilities. In some instances a number of small, competing and often relatively poorly financed companies in the same sector were nationalised to form one government monopoly for the purpose of competent management, of economic rescue (in the UK, British Leyland, Rolls-Royce), or of competing on the world market.

So the use of the word is subjective.

BMK, you are charging too much. $1.50 worth?

I am sure those political people that want to take your 40 off the road, have not taken a ride with you in the 40. Perhaps if you entertain the notion that they would be less likely to take your 40 off the road if they had gotten a ride, you would offer to take the blokes for a ride.

Get all the group to take the politicians for a ride in a classic and maybe they will flip to the restore before they close the door.

How have ya been? How did you like the book?

:D :D

Les,

Rightly or wrongly Capatilism rules the world

And USA rules capatilism.

That is why they bail out banks and mega corporations prior to offering a countrywide health system available to all.

Oh what a world it would be if money wasn't the primary comodity for trading, being replaced by some other means of comodity such as mateship (something Aussie's worship).

I'm not a socialist, but I'm sure the world would be a better place if it wasn't driven by a buck!

And I work in an environment where margin is at the top of the tree!

We as human beings are losing our real worth, that being a social animal.

Rambling.........................:eek:

Pete, I'm not a Socialist either and of course Capitalism is the way to growth and wealth. No argument from me.

What we are discussing here is the economic hypocrisy our politicians feed to us. One minute it is "The deficit is too large" and we must reduce it. (ie likening it to a debt that will one day be untenable). The next they debate whether to build the NBN on the basis that it will send the budget into deficit for the next x years.

It is this leaping from a monitarist view of balanced budgets one minute to a Keynesian view of deficit spending the next.

My point is that a budget deficit in a country with a sovereign currency should not have and does not mean a "debt" as the general public recognizes a debt as it applies to their private lives. This "fear" of a debt should not instilled into the private sector as a cause for electing one particular political party over another.

It is only at Election time that these Politicians suddenly start thinking infrastructure. ie. My party will build a fast rail link between Sydney and Canberra and the other counters with .. My party will build a rail link between Petrie and Redcliffe. Both Parties promise spending with little regard to the effect on the budget. Yet both parties were arguing the notion of a balanced budget last week or last month.

In response to Mikes view I totally agree that essential infrastructure remain in the hands of the people. If this notion is defined by some as Socialist then so be it. :p

Buy back Telstra I say - it is cheaper now too. I love the idea of an NBN being owned by the people. Should be more of it. 'Competition' here is pollie-speak for selling the farm to overseas investors, for whom most people will soon be working, if not already.