Swan tries to calm investors following stockmarket fall

June 5th, 2012

FAKE NEWS for the Zionist agenda

IF at first the message doesn’t get through, ram it home again.

At least that’s Treasurer Wayne Swan’s strategy, who faced the media for a few minutes this morning and said pretty well exactly the same thing he said 24 hours ago.

Following yesterday’s sharemarket plunge in which billions was wiped off the market, Mr Swan emerged this morning in Parliament House in Canberra, appearing to try and calm investors.

“Clearly there are challenges in the global economy but we face those challenges from a position of strength,” Mr Swan said today.

“We’ve got solid domestic growth, we’ve got job growth – we’ve got over three quarters of a million jobs created since the government’s been in office – we’ve also got a healthy banking system, we’ve got strong public finances, we’ve got a really strong investment pipeline and of course interest rates are lower than they were at any time under the Liberals when you look at the official cash rate. So I think Australians can have confidence that we do face these challenges from a position of strength.”

Mr Swan’s message was very much the same as yesterday’s in which he said – just hours before the market meltdown: “We face these challenges from a position of strength”.

He went on: “We’ve got solid growth, we’ve got low unemployment, we’ve got a healthy financial system, we’ve got strong public finances and we’ve got a huge investment pipeline.

On top of that we’ve got contained inflation and in terms of the cash rate at 3.75 (per cent). From an Australian perspective, located where we are, we should never lose sight of how strong our economic fundamentals are, we should never lose sight of the fact that we face these challenges from a position of strength.”

The Reserve Bank will meet this afternoon and will likely again slash interest rates.

The Treasurer refused to comment on the outcome of the meeting except to say that the Gillard Government’s decision to bring the federal budget back to surplus gave the RBA “maximum flexibility” to cut rates.