2008-2009

Labor blow to economy after GFC

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 9-Dec-16

Economist Tony Makin has concluded that the $A100bn fiscal stimulus package of former prime minister Kevin Rudd was in fact detrimental to the economy. Makin has reviewed the stimulus program on behalf of the Treasury, and noted that apart from wasting taxpayers’ funds on unnecessary expenditure, it hurt the local manufacturing industry. Makin also refutes suggestions that fiscal stimulus helped to protect the domestic economy from the full impact of the global financial crisis, arguing that factors such as a falling Australian dollar, low interest rates and demand for commodities played a greater role.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, GRIFFITH UNIVERSITY, AUSTRALIAN LABOR PARTY

Australian debt control worst in G20: report

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Original article by Adam Creighton
The Australian – Page: 1 & 4 : 27-Jul-16

A Peterson Institute for International Economics report notes that Australia’s debt-to-GDP ratio has risen by 27.1 per cent since the global financial crisis. This is not much lower than the average increase recorded by developed nations such as the US, the UK, Japan and Italy. The report’s author, Paolo Mauro, concludes that Australia could have cleared its net debt and Budget deficit if real government spending had not significantly outpaced that of other major Group of 20 nations over the last eight years.

CORPORATES
PETER G PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS, GROUP OF TWENTY (G-20), INTERNATIONAL MONETARY FUND, AUSTRALIA. DEPT OF THE TREASURY, STANDARD AND POOR’S CORPORATION

Why this market isn’t like the bloodiest days of 2008

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 31 : 17-Feb-16

The slump in global sharemarkets in 2016 has prompted comparisons with the onset of the global financial crisis in 2008. However, analysis shows that many Australian blue-chip stocks remain significantly above the lows recorded at the height of the GFC. National Australia Bank is the only one of the "big four" whose share price had not reached its pre-GFC high when the market peaked in April 2015. In contrast, energy stocks – which generally rallied during the GFC – have fallen sharply since April.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, STANDARD AND POOR’S ASX 20 INDEX, CREDIT SUISSE (AUSTRALIA) LIMITED, LEHMAN BROTHERS INCORPORATED, CITIGROUP PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, ORIGIN ENERGY LIMITED – ASX ORG, SANTOS LIMITED – ASX STO, CSL LIMITED – ASX CSL, CARNEGIE ASSET MANAGEMENT FONDSMAEGLERSELSKAB AB