Submitted by Shatner'sBassoon on Fri, 11/06/2015 - 19:48
AN ALL-ENCOMPASSING KALEIDOSCOPIC JOIN-THE-DOTS/ADULT COLOURING BOOK EXPERIMENTAL PROJECT IN NARCISSISTIC/ONANISTIC BIG PICTURE PARASITIC FORUM BLEEDING.
LIKE POLITICAL LIFE, PARTICIPATION IS WELCOME, ENCOURAGED EVEN, BUT NOT NECESSARY.
Keep voting Labor , Guy .
$ 5000,000,000 .00 thrown away by the Gillard government .How many schools and hospitals does that equate to ?
But....they speak so eloquently and their website is fabulous , they couldn't possibly be a collective of talentless career sops gaming the system could they ?
Actually , they're worse than that .
They're useless bastards that took the only political party that ordinary Australians could rally around and drove it to ruination , leaving natural allies ....such as you and I Guysmiley, ....divided and confrontational.
Worse than useless.
he was actually the editor and political editor for the Age , has won every real Journalist award in Australia , so for once , as it was first hand stories , I believe him and as for that guard story , well that's way more reliable !
You've read that incorrectly Blowin. Julia Gillard had a minority government with an opposition leader blocking every move who rejected any consensus that may have advanced the nation for his own political gain. Part of that was energy policy.
It doesn't matter where you sit on the climate change spectrum, Blind Freddy can see which direction coal is heading and there is little that can be done. Our politicians should've anticipated those changes, as many astute scientists/economists did, and prepared an enrgy mix for the transformation. To our great loss, just when we needed bipartisanship we had a deeply ideological politician in opposition and unstable government in power.
The Liberals were being opportunistic criticising compensation, because those fall backs were only in place to placate Abbot and Greg Hunt who were prepared to do anything to stymie Gillard. Note that Turnbull as opposition leader supported Kevin Rudd's ETS. Note also Peta Credlin's recent admission that Gillard's 'carbon tax' wasn't a tax at all. "That was brutal retail politics" she said blithely.
The worst thing isn't the $5bn gone up in smoke but that we still don't have a coherent energy policy and as long as Tony Abbott has a voice in parliament I don't think we ever will.
Coal isnt trendy anymore but blind freddy should check our biggest exports. Itll be around for a hundred years to come. We have no issue banning uranium but coal is all fine. A government with vision and a spine would address this and plan for the jobs crisis of killing off the coal mines if its allegedly dying. It wont though. Not much point trying to develop a credible energy policy with that white elephant standing in the corner.
Abbott was a ruthlessly negative opposition leader but bitching shorten isnt any better. This citizenship saga is just time wasting bullshit.
Guy - It's much easier if I just repost this from earlier in this thread. It's my wish list for Australian politics . As I've said many times , I have no love for One Nation. But I will say that I have great appreciation of their stance on limiting immigration and reinstating nationalisation of infrastructure and maintaining sovereignty over Australian soil.
They are my primary beliefs and Labor has shown no interest in any of these until very recently. The main one is immigration though.
I'm not for a big Australia at all.
Blowin wrote: Halt foreign ownership of real estate...all forms .
Limit population growth through restricted immigration .
Halt or extremely limit the use of imported labour in Australia .
Prioritise spending on Health, welfare , education.
Subsidise tertiary education.
Discontinue the privatisation of government functions - transport, ports, education, health and welfare.
Nationalised infrastructure spending that produces exportable products - Oil/ Gas , mining etc. Achieved through a commited and non politicised sovereign wealth fund that is accumulated as a result of an annual flat rate tax payable by every Australian citizen.
An Australian constitution guaranteeing freedom of access for individuals to natural resources eg fishing, hunting.
Complete transparency, limitation and curtailment of political donations / lobbying.
Political sphere should consist of - true democracy : continuous referendum style establishment of the desires of the Australian people. People often denigrate policies as being " populist " - isn't that the hallmark of democracy , to reflect the will of the majority ? Constitution / laws established through plebiscite .
Removal of the relevance of individual politicians from consideration - political parties should be faceless, though not unaccountable . Same as every other government department. Make people vote for policy, not projected personality. This could be achieved by a regularly scheduled release of each parties / independents stance on a range of issues displayed in a matrix format for the easy comparison / contrast with each other. Political sanctions as deterrence towards failure to follow the nature of the stated policies .
Dedicated sovereign partnerships with all approved foreign investment in Australia.
An opposition to the acceptance of free trade agreements particularly those containing an ISDS clause.
A focus on the unity of Australians - ie the sustenance of the common language .
Removal of dual citizenship options.
Tightening of tax loopholes for transnational companies . Limited deferral of tax obligations as a result of capital deduction.
Flat rate of tax commencing and ceasing at minimal and maximum earnings respectively for individuals.
Removal of state governments and bodies.
Foreign aid to be concentrated on directly neighbouring nationalities.
Increased antitrust legislation.
All the above is of course conditional on approval by the constant plebiscite process that I advocate.
How the tide of political corruption would be prevented from being spread from the individual power of the current politicians to the diluted, though accumulatory power of the plebiscite approach is beyond me.
Though you can guarantee that if there is political power it will be purchased by those with power , one way or another.
Australia should resist all efforts by non -representational ,transnational bodies to subvert the democratic prerogative of Its citizens as a primary concern .
PS Heals - duly noted and well said.
Politics is dirty and our system of democracy flawed. Whoever we vote for we are in the shit, only the depth changes. The way I see the world voting for a Hanson or a Trump is putting you up the very deep end, lets say up to your neck in it. To continue the analogy voting for Labor or Liberal might see you knee to waist deep, the Nationals chest deep and Greens from calf to chest deep depending on how tolerant you are of some of their policies. Its a messy business.
I voted Labor for years and they're drifting further from the way they were or should be.
Continuing to vote for them is just reassuring them that they're on the right path.
Theyll only pay attention when they're losing votes.
I can understand the frustration but take a look at the context. Labor were victims of their own success following the Hawke-Keating revolutions. They unshackled the working class, allowed upward mobility, greater opportunities etc...in effect dissolving the very consituency that supported upon. Theoretically the great Labor project was over.
Exept it wasn't, Labor simply lost the means to organise their voters - the unions - and Howard rebadged the lower classes 'Howard's Battlers'.
Takes time for a party to acquire new values and Labor adopted some from it's newly prosperous supporters and some traditional ones - and ill-fit that was bound to fail.
I have no understanding of politics through the 90,s i was young and couldn't give a rats.
But I'm always surprised when people speak positively politically of that era especially Keating era?
I mean for me and those around me it was hard times, i didn't care that much as wanted to just surf on the dole, but unemployment was ridiculously high, the building industry was dead, and interest rates were ridiculously high, where i live people where virtually giving away blocks of lands because it just wasn't worth paying the rates and i remember even a big auction of at least twenty properties from bank foreclosures or whatever there called.
So what am i missing?
Ada gula, ada semut!
indo, the Hawke-Keating government made numerous essential economic reforms. The previous coalition government, particularly Howard as treasurer, had had their heads in the sand. The resulting economic boom resulted in inflation hitting 9%. The reserve bank were too slow in raising interest rates so when they did, they had to do so fiercely to have any impact. Hence "the recession we had to have". Keating has always maintained that had the reserve bank acted earlier the recession could have been avoided.
Another interesting read from yesterday,
"A Manus Island refugee was arrested for allegedly trying to strangle a female doctor with a plastic bag and punching her in the face after receiving treatment at a medical centre run by the Australian government."
Its an interesting scenario because right now the reserve bank is arguing if the government doesnt act on the housing bubble there will be a bust and a recession will follow. No doubt if it does pop future governmemts will blame the reserve bank again. Government policy dictates spending and inflation and the rba only moves the interest rate to address inflation. Horse before cart or cart before horse?
Gaz the reserve bank now has a clearly defined inflation target range. If inflation rises out of that range they will lift interest rates. The real problem in recent years has been that they struggle to keep it above the lower boundary, so deflation has been more of a concern.
Thats right bb but the housing market has a gun to their head at the moment. Currently they seem to be holding their breath and treading softly. Cant really go up or down and the government doesnt seem to see it
Rates in housing market dependent on international market rates as Aussie banks borrow short off international debt markets and lend long into Aussie RE. RBA can sit on rates and lenders still pressured higher by market funding costs in NY
RBA follows (or leads?) 90 day SFE bill rate...
For a while I've been yearning for an economic history of the last 10 years, let's admit, it's been... different. Matt Barrie has obliged today, the first half a wrap up of global happenings during QE, a very good read with quite a bit of wtf:
When these imbalances unwind, at least we'll still have surfing.
I was just about to post that article johnno but you beat me to it! Great read i thought.
Meanwhile bill shortdick is tearing our parliament to bits over where pollies parents were born while our country goes down the shitter.
Great read , VJ.
Yeah it's a profound read, long, well researched. Basically if you wanted what Tyler Durden at ZH was doing for the US/EU economy in 2010 or so (how that site has fallen... some of his early bond articles were deeply impressive and taught as equally as they informed...), Barrie has written it for Australia right now.
I just can't understand why lawmakers would pass policy that did this to their nation? I mourn the loss of the car industry too - my metallic purple HJ column shift wagon was the pinnacle of Surf Beast.
Anyway, my favourite lol was the Bank of Japan (remember central banks are Chapter 5 of Mr Marx's book...) owning 75% of the Japanese ETF market - bring that one up in conversation if anyone is debating you that Capitalism actually exists and has failed... I must admit my eyebrows raised when the SNB started buying AAPL...
Anyone care to give odds on global Minsky Melt Up?
I dont think its an if just a when now johnno. I just wonder how it will actually look in oz
I recall reading some of TD's articles on Zero Hedge and, while they were heavy on info and analysis, and appeared to present cogent arguments for the layman, I cant recall any of his predictions coming to pass. Did I read the wrong ones, or was I perhaps too late?
I'm trying to gauge how much I should be concerned by the above article.
So who has sold up the family home and put it all in cash? A good piece of advice is that markets can always remain irrational longer than you can remain solvent betting against them.
Stu I might suggest that site was (is?) more of a resource to document what happens, rather than predictions ending up true or no. Just as JK Galbraith did for 1929. There's certainly a bit of snark in the headings ("Monetary Bukake" for the BOJ when they started to print the day after the Fed halted was a giggle), probably best part of a variety of sources. This stuff will continue until the day it doesn't. One of the most obvious unrealised truths of my adult life.
BB as for the family home, there was one fellow I heard of in Perth who sold up in 2007 and put the lot in silver, could have been a very good (ballsy) trade if he timed exit well - what many did not realise was the protection of the housing market by gov when tshtf in 2008. Family homes are for living in, whether they are $17,000 or $1,700,000 and then they halve...
I have some suspicion of what's going to happen, but it's best to skip John Law and go straight to the Austrian economist Ludwig von Mises:
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
Good luck to you all in finding lifeboats. Back to surf talk for me now.
Cheers VJ. I was never an ardent reader but tuned in every now and again and probably focussed on the aspects I was interested in: theory (with an objective to predict) as opposed to an explanation of events.
All good Stu. Theory with an objective to predict... there was a time when advance-decline lines and relative strength divergence could be seen (a long way out) as harbingers of change, I kind of hope they still will.
Wow VJ, just read the article. All the data, stats and info, it's hard to deny that most Australians are leveraged well above their heads and when it corrects, shit's gonna get heavy.