Australia - you're standing in it

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Sheepdog started the topic in Friday, 18 Sep 2020 at 11:51am

The "I can't believe it's not politics" thread.

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brutus Friday, 1 Oct 2021 at 11:50am
blindboy wrote:

brutus given that most financial crises are caused by poor governance it seems sensible for governments to fix the mess they caused in the first place. The GFC was a classic example of that. The current situation less so, but even in this case one of the prime roles of government is surely to reduce the impact of such events. If you want to label that socialism then from my perspective, bring it on. It would be a huge advance on the neoliberal exploitation and manipulation of markets and the unnecessary implementation of austerity in some countries we have seen since the 1980s.

BB it looks like to me that greed is the cause of recessions and depressions....the rich elite know that they can manoeuvre the system for their gain . if something starts to go wrong they know they can invest there money in Gold/not bonds for example , as governments will cover their rich arses step in to the markets and cover the trillions of $'s needed to prop up the capitalist system until everything settles down again.
The Governments take on huge debt which becomes ours, and when it's safe again the rich come out again and get richer?

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blindboy Friday, 1 Oct 2021 at 12:04pm

"the rich elite know that they can manoeuvre the system for their gain . if something starts to go wrong they know they can invest there money in Gold/not bonds for example , as governments will cover their rich arses step in to the markets and cover the trillions of $'s needed to prop up the capitalist system until everything settles down again."

Nothing to disagree with there brutus but it is worth going in a bit deeper. Neoliberalism is the biggest part of the problem. It has increased inequality and relative poverty while enabling ridiculous accumulations of private and corporate wealth. This wealth then chases growth causing unsustainable bubbles such as the current one in the housing market. These, combined with lax regulation of the financial system, are the immediate cause of crises like the GFC.

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Robwilliams Friday, 1 Oct 2021 at 12:17pm

Mass consumerism, me me me above all else and the dumbing down in general knowledge hasn't helped either. Selfishness shouldn't be contagious, but in a dog eat dog world it thrives holding back positive change and awareness of positive possibilities. Progressive man (woman) shouldn't or wouldn't repress or repeat past mistakes. evolution never looked so questionable. We feed our children phones and teach conspiracy theories over truth and rational thinking whilst calling it progress.

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Hutchy 19 Friday, 1 Oct 2021 at 12:35pm

Brutus-So what's the "enormous affect on OZ " in Biden nominating a top bank regulator........as it's only a nomination and nothing else....so what are the implications of a nomination , genius?

It all depends on what this women does when she gets the job . Below is her views . She will be a disaster that could stuff up the world .

As the Wall Street Journal editorial board notes, "Ms. Omarova thinks asset prices, pay scales, capital and credit should be dictated by the federal government. In two papers, she has advocated expanding the Federal Reserve’s mandate to include the price levels of “systemically important financial assets” as well as worker wages. As they like to say at the modern university, from each according to her ability to each according to her needs."

In a recent paper “The People’s Ledger,” she proposed that the Federal Reserve take over consumer bank deposits, “effectively ‘end banking,’ as we know it,” and become “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.” She’d also like the U.S. to create a central bank digital currency—as Venezuela and China are doing—to “redesign our financial system & turn Fed’s balance sheet into a true ‘People’s Ledger,’” she tweeted this summer. What could possibly go wrong? -WSJ

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blindboy Friday, 1 Oct 2021 at 12:48pm

The WSJ is hardly a disinterested observer. If you want to disparage someone's views you quote them.....not how a vested interest chooses to interpret and selectively quote them

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Hutchy 19 Friday, 1 Oct 2021 at 1:08pm

FO Blindboy . You don't do it !!!! No one else on this site does it either .

The WSJ quoted her paper and tweets blind one . Why don't you read her whole paper before disparaging the WSJ ?

You say one thing and do the opposite .

After reading your posts I would guess you are or were an academic regarding economics . Never applied your knowledge in the REAL world .

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blindboy Friday, 1 Oct 2021 at 1:21pm

So I take it I was right and you can't actually find a direct quote to back up the WSJ. There is a difference between using a link to back an argument and using it as a secondary source of someone's views on a complex issue. Particularly when there is doubt over the objectivity of the publisher. Oh and bad guess. Real world experience? Many heavy doses. My guess about you would be retired financial advisor frustrated that his investments didn't quite pan out....

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Hutchy 19 Friday, 1 Oct 2021 at 1:26pm

Here is something from the MSM .BB .

Heading the OCC, however, Omarova wouldn't have any power over the Fed.

If approved Omarova would be the first woman and first nonwhite person to lead the agency in its 158-year history.

Operating as an independent agency within the US Treasury, the 3,500-person office sets bank policies dealing with more traditional merges and acquisitions and the expanding digital trade.

Omarova graduated from Moscow State University in 1989 on a scholarship named after Soviet leader Vladimir Lenin. After moving to the US in 1991, Omarova got a Ph.D. from the University of Wisconsin and her law degree from Northwestern University.

Born in Kazakhstan in the former Soviet Union, the law professor previously praised the communist country's economy as something the US should aspire to.

No your guess in not right either . I don't think I will ever retire . Will allocate time differently though .

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GuySmiley Friday, 1 Oct 2021 at 1:40pm

What is and what will play out in NSW politics over the coming weeks and months is precisely why Morrison will not introduce a Federal ICAC as promised.

It is reassuring Integrity still matters in Australian politics.

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blindboy Friday, 1 Oct 2021 at 1:42pm

No attribution? You don't really expect me to take it at face value do you? Anyway let's have a closer look.
* Extremely highly qualified
* Bipartisan, having worked in the George W. Bush administration.
* Progressive economic views in some ways similar to the New Deal

Sounds like a great candidate and very much needed after decades of maladministration by neolibs of various kinds. Of course I expect you would prefer a return to the gold standard and an extra dose of neolib nonsense to keep the dollars flowing upstream but I think.tbose days might just be done old cock.

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Hutchy 19 Friday, 1 Oct 2021 at 2:08pm

Brutus-"BB it looks like to me that greed is the cause of recessions and depressions....the rich elite know that they can manoeuvre the system for their gain . "

Not quite right but close . Greed can ( along with many other factors ) cause asset bubbles and fear ( also with other factors ) can cause crashes . Fear is the stronger emotion by far .

Both these emotions affect all systems as there are imbedded in all humans . Feudalism , Communism , Capitalism .

This is mostly wrong -"the rich elite know that they can manoeuvre the system for their gain . if something starts to go wrong they know they can invest there money in Gold/not bonds for example ".

Not even the rich can pick the top or the bottom of markets !!!

The rich cannot quickly sell their properties , sell the equity ( Twiggy just lost millions with FMG going from $27 to $15 in two months ) , sell their unlisted small business , sell their property developing company etc etc . Many go broke in a recession . Many also are able to hold on to when times change for the better .

Bonds are not a place to hid now . Their prices are 200% higher than equity prices on average . Golds price is affected by crypto currencies but will always hold some value imo . The governments might to what FDR did in the US and make it illegal to hold gold . He confiscated people gold at a very low price .

There are always risks . The more you have the more you are at risk of losing .

The Central Banks did bail out Wall St in the GFC . A tragedy ! Some crap about being to big to fail .

Hundreds of thousands of rich and poor people were smashed by this failure of regulators to regulate . All my clients lost 50% of their wealth in everything ( homes went down less ) but were lucky to be able to hold on . No debt .
.

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blindboy Friday, 1 Oct 2021 at 2:22pm

That is a very narrow view Hutchy. For example the wealthy are more likely to be able to hold onto their assets when prices fall knowing that they will rise again cyclically. Then, they are also well positioned to have the available funds to pick a point close to the bottom and gain wealth as the market rises. Average punters, sorry, investors, are less likely to be able to hold and buy on the upswing. Not to mention the obvious truth that the more you have the more you can lose before it becomes what? Inconvenient?

The bailing out of the banks was appalling but at that point the whole system was on the verge of falling over. There were no takers at all for US treasuries, which was a kind of signal that the end of the financial world was just around the corner.

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Constance B Gibson Friday, 1 Oct 2021 at 2:45pm
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brutus Friday, 1 Oct 2021 at 2:47pm
Hutchy 19 wrote:

Brutus-So what's the "enormous affect on OZ " in Biden nominating a top bank regulator........as it's only a nomination and nothing else....so what are the implications of a nomination , genius?

It all depends on what this women does when she gets the job . Below is her views . She will be a disaster that could stuff up the world .

As the Wall Street Journal editorial board notes, "Ms. Omarova thinks asset prices, pay scales, capital and credit should be dictated by the federal government. In two papers, she has advocated expanding the Federal Reserve’s mandate to include the price levels of “systemically important financial assets” as well as worker wages. As they like to say at the modern university, from each according to her ability to each according to her needs."

In a recent paper “The People’s Ledger,” she proposed that the Federal Reserve take over consumer bank deposits, “effectively ‘end banking,’ as we know it,” and become “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.” She’d also like the U.S. to create a central bank digital currency—as Venezuela and China are doing—to “redesign our financial system & turn Fed’s balance sheet into a true ‘People’s Ledger,’” she tweeted this summer. What could possibly go wrong? -WSJ

Hutchy you didn't answer the question......what affect has a nomination on OZ ?

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Hutchy 19 Friday, 1 Oct 2021 at 2:53pm

Blindboy - No winning for you again . You are on a streak .

You said . "That is a very narrow view Hutchy. For example the wealthy are more likely to be able to hold onto their assets when prices fall knowing that they will rise again cyclically. "

I said the same fucken thing in my post . Learn to read idiot . Most are not cashed up ( my clients are now ) before a fall so not buying at the bottom which I also said the rich can't predict . I advise the rich and I will admit your and Brutus's guess would be as good as mine .

Again you show you don't know how the real world operates OR acted . You said "The bailing out of the banks was appalling but at that point the whole system was on the verge of falling over. There were no takers at all for US treasuries ".

Who do you think has been buying all the US treasuries since the GFC ? It is not mum and dads it is the fucken FED . Check again who owns the FED !!! I bet you didn't even read my post about who owns it !!

There was no major individual player put in jail for this travesty . Not one senior bank manager and not one senior regulator . As you said "the end of the financial world was just around the corner" and I will say many bankers and regulators thought their end was near .

But they got off scot free with ALL the ill-gotten gains .

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Optimist Friday, 1 Oct 2021 at 3:27pm

I liked Gladys...worked her guts out...shame she fell for the idiot boyfriend back in the day. I think Dominic will be really good as well and maybe even better. Shes a noble character by standing aside but the ICAC timing is unbelievable during an important crisis. You think they could wait a couple of months for a probable useless result anyway as I doubt she will have mud stick on her. Time will tell I suppose.

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blindboy Friday, 1 Oct 2021 at 3:32pm

"I said the same ..... thing in my post"

Well no you didn't. What you did say was:

" The rich cannot quickly sell their properties , sell the equity ( Twiggy just lost millions with FMG going from $27 to $15 in two months ) , sell their unlisted small business , sell their property developing company etc etc . Many go broke in a recession . Many also are able to hold on to when times change for the better ."

Pretty much the exact opposite except for a little qualifier at the end. Oh and what a tragedy for Twiggy, down to his last $15 mill oh no my mistake down to his last $15 mill in THAT investment.

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Hutchy 19 Friday, 1 Oct 2021 at 4:55pm

BB I said " Many also are able to hold on to when times change for the better ."

You said "For example the wealthy are more likely to be able to hold onto their assets when prices fall knowing that they will rise again cyclically. "

You said "Pretty much the exact opposite " . Read the two sentences as they DO say the same thing . No fucken qualifier .

I will say you have no ability to comprehend what I write and just want to find fault to feel that you are right . How poor !!!

Improve or else you will piss me off again .

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brutus Friday, 1 Oct 2021 at 5:17pm

Gee hutchy , we don;t want to piss you off the might start writing in CAPITALS........but could you please answer the simple question.." .what affect has Ms Omarova nomination on OZ ?

Hutchy 19 wrote:

BB I said " Many also are able to hold on to when times change for the better ."

You said "For example the wealthy are more likely to be able to hold onto their assets when prices fall knowing that they will rise again cyclically. "

You said "Pretty much the exact opposite " . Read the two sentences as they DO say the same thing . No fucken qualifier .

I will say you have no ability to comprehend what I write and just want to find fault to feel that you are right . How poor !!!

Improve or else you will piss me off again .

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blindboy Friday, 1 Oct 2021 at 6:09pm

Ha ha ha twice in one day Hutchy, or was it three times. Never mind you'll get over it. Now go, pick up the dummy and give it a good rinse before preparing to spit it again.

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Roadkill Friday, 1 Oct 2021 at 6:26pm

A new snowflake contender…blowin might have to give up his title and pass the baton onto princess snowflake hutchy19.

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Constance B Gibson Friday, 1 Oct 2021 at 6:29pm

"I'm Spasticus!"

"No, I'm Spasticus!"

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Blowin Friday, 1 Oct 2021 at 6:46pm
Roadkill wrote:

A new snowflake contender…blowin might have to give up his title and pass the baton onto princess snowflake hutchy19.

You do realise that both the fella posting above you and the fella posting below you are both recently off the bench after drenching their nappies?

A couple of tantrums for the ages. Bed wetting for Australia those two. One of them even threatened to sue me he was so aggrieved over a few words on the internet. True story. That’s the level of character you’re looking at.

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Constance B Gibson Friday, 1 Oct 2021 at 7:03pm

More examples from that unintentional comic masterpiece of fiction: The History According to Blowin'.

I'm sure you can smell the bullshit clear over the Tasman Sea, RK. You strike me as a man that wasn't born yesterday.

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gsco Friday, 1 Oct 2021 at 7:11pm

interesting

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shortenism Friday, 1 Oct 2021 at 11:03pm

Clive Palmigana announced Glady being embroiled in an ICAC investigation weeks ago... the media was deathly silent and most others had their head too far up their arse to face listening to what Clive said.

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Hutchy 19 Saturday, 2 Oct 2021 at 9:23am

Brutus . You wouldn't understand and I won't waste my time .

I posted some of her beliefs and any knowledgeable person who have understood the red flags .

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brutus Saturday, 2 Oct 2021 at 9:41am
Hutchy 19 wrote:

Brutus . You wouldn't understand and I won't waste my time .

I posted some of her beliefs and any knowledgeable person who have understood the red flags .

well c'mon genius explain it to me...what are the red flags for Australia....you don't have a clue do you?

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Hutchy 19 Saturday, 2 Oct 2021 at 10:17am

Won't waste my time Brutus .

Having a person with commie type views , wanting to have authority to control everything is going to be great choice for the top Banking regulator in the US .

You can believe it will have no implications in Oz .

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brutus Saturday, 2 Oct 2021 at 10:29am

Hutchy , how am I wasting your time you are here all day ?

, just wanting clarification on another one of your stupid/thoughtless comments that you cannot explain ....so now a nominated person in the USA has commie views ,LOL.......and is going to have a big affect on Australia......hahahaha....just admit it , you don't know what you are talking about?

Hutchy 19 wrote:

Won't waste my time Brutus .

Having a person with commie type views , wanting to have authority to control everything is going to be great choice for the top Banking regulator in the US .

You can believe it will have no implications in Oz .

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blindboy Saturday, 2 Oct 2021 at 10:35am

Quick check under the bed! Those bloody commies are at it again trying to perve ert our wundefool societee with one of them edjerkated wimmin what shuld be home cookin and cleenin. She don't fool me I know she worked that low down dirty commie George W. Bush

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Hutchy 19 Saturday, 2 Oct 2021 at 10:35am

Brutus - You are acting so dumb on this issue . Most BIG things that happen in the US , China and the World have implications on Australia .

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Hutchy 19 Saturday, 2 Oct 2021 at 10:42am

BB - You have proved your character to me . A deliberate Liar and unwilling to admit mistakes . Things I rate very badly .

So rude you bring sexism into it . Poor character again demonstrated . We were probably trying to infer racism as well .

It was her views that I am concerned about .

You seem intelligent but you are definitely a F..k Wit !

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adam12 Saturday, 2 Oct 2021 at 10:42am

Fluoridation of water? Mandrake: Uh? Yes, I-I have heard of that, Jack, yes. Yes. Ripper: Well, do you know what it is ...
You know when fluoridation began?...1946. 1946, Mandrake. How does that coincide with your post-war Commie conspiracy, huh? It's incredibly obvious, isn't it? A ...

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brutus Saturday, 2 Oct 2021 at 10:42am
Hutchy 19 wrote:

Brutus - You are acting so dumb on this issue . Most BIG things that happen in the US , China and the World have implications on Australia .

No Hutchy it's because you cannot answer , as BB said , you better check for commies under your bed...back to McCarthyism which is the practice of making accusations of subversion and treason, especially when related to communism and socialism......so what are BIG things again?
Hutchy I have some time off today so I thought lets have a hutchy day....hahhaLOL

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Hutchy 19 Saturday, 2 Oct 2021 at 10:51am

Brutus - to save you from making a fool of yourself ALL day I will do what I usually do .

Not spend my all my time on SN and do some other enjoyable activity .

How is your theory regarding porosity going ? I think it needs some work and I will enjoy seeing your progress later .

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brutus Saturday, 2 Oct 2021 at 11:04am

Hutchy speaking to you all day would make me a fool, but I am not speaking to you I am questioning you and you are unable to back off , or offer any glimmer of substance......

Hutchy 19 wrote:

Brutus - to save you from making a fool of yourself ALL day I will do what I usually do .

Not spend my all my time on SN and do some other enjoyable activity .

How is your theory regarding porosity going ? I think it needs some work and I will enjoy seeing your progress later .

HUTCHY, THE WORD POROSITY/porous, that you used to describe Australia's borders and how aborigines and the first settlers were able to come to Austrlia...FFS ...here's the definition........Porosity is the percentage of pore volume or empty space in a formation that can contain fluids. Porosity is a measure of the relative volume of void space in rock to the total rock volume. These spaces or pores are where oil and gas accumulate; therefore, a formation containing a high percentage of porosity can contain more hydrocarbons.
So would you call Australia and empty space in a formation that contains fluids?

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Hutchy 19 Saturday, 2 Oct 2021 at 11:29am

Brutus - I never said we were speaking . Thanks for providing the real definition of porous but you wasted your time as I already knew it .

Try checking porous country borders as this is where you have a problem . Just google it as porous and borders come up a lot . It is worth you knowing as at the moment you have no idea .

I am sorry that I didn't think like you " I have some time off today so I thought lets have a hutchy day."

I also had time off today and when thinking of what to do you didn't even enter my thoughts .Sorry mate !

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goofyfoot Saturday, 2 Oct 2021 at 11:42am

Hutchy just curious what did you get up to before you discovered Swellnet and started annoying the bejesus out of everyone?

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H2O Saturday, 2 Oct 2021 at 12:34pm

Libs gotta go .Cant see Labour as much better. We used to have a public service that know how to do things like quarantine in a pandemic and extract people from dangerous situation OS - we used to own an airline remember- but they've privatised all that and replaced people with decades of experience with consultants whose allegiance is not to Australian citizens but to shareholders.

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brutus Saturday, 2 Oct 2021 at 1:30pm

Hutchy so porous borders it is......this from Thesaurus, definition of PB,. porous - allowing passage in and out; "our unfenced and largely unpoliced border inevitably has been very porous"

So Ok it was easy for the original Indigenous people to come to Australia, as it was for the first settlers.......wow , incredibly confronting and really Australia does not have huge cliffs all the way around Australia....so it's easy to land in Australia....were you up all nite poring over the porousness of Australia relative to people coming here.

Hutchy day for me means , calling out all your right wing Trump/Abbott bullshit and making you own your statements by trying to get you to explain them , which you can't....

Hutchy 19 wrote:

Brutus - I never said we were speaking . Thanks for providing the real definition of porous but you wasted your time as I already knew it .

Try checking porous country borders as this is where you have a problem . Just google it as porous and borders come up a lot . It is worth you knowing as at the moment you have no idea .

I am sorry that I didn't think like you " I have some time off today so I thought lets have a hutchy day."

I also had time off today and when thinking of what to do you didn't even enter my thoughts .Sorry mate !

h

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Hutchy 19 Saturday, 2 Oct 2021 at 3:51pm

Brutus - so glad you were finally able to work out what porous borders means .

I know it will take a huge step for you but by stopping the boats and building a wall stops , as you said "unfenced and largely unpoliced border inevitably has been very porous".

I know you have trouble understanding my statements but I hope like porous borders you can get this .

I am making a real effort to keep my statements at level were you can understand them . Would using more CAPITALS help ?

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GuySmiley Saturday, 2 Oct 2021 at 4:00pm

Hutchy & Info the conjoined imbeciles constantly splashing down the shallow end of the gene pool. Infinite ignorance. #there’salwaysanothercomment

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brutus Saturday, 2 Oct 2021 at 4:39pm

hutchy , but what does porous borders have to do with the arrival of the first Nations people and the colonialists ?

what are you trying to say?

Hutchy 19 wrote:

Brutus - so glad you were finally able to work out what porous borders means .

I know it will take a huge step for you but by stopping the boats and building a wall stops , as you said "unfenced and largely unpoliced border inevitably has been very porous".

I know you have trouble understanding my statements but I hope like porous borders you can get this .

I am making a real effort to keep my statements at level were you can understand them . Would using more CAPITALS help ?

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Hutchy 19 Saturday, 2 Oct 2021 at 5:23pm

Brutus - I was responding to a comment that said a porous border was what made America great . I agreed with that and it did make Australia great . But as I said times have changed .

A porous border in the time of terrorists , people smugglers and covid is a disaster .

Stopping the boats and walling up the US southern border , ie plugging the leaks , were very hard decisions to make , those that made them copped heaps of abuse ( from people like you ) and took balls of steel to go through with .

If you were up to date you might have understood what context the comment was in .

Again I have to waste my time explaining to you what you already should know . And you ask me if I have read the article ? I will do it when I have the time and you could help by not asking me stupid questions .

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gsco Saturday, 2 Oct 2021 at 8:56pm

I'd hazard to guess that everyone in these forums approx my age (mid-late 40s) or older will know about, and even recall living through, Australia's path of economic reform in the 80s and 90s (well...it's still going really...).

These reforms were termed economic rationalism or economic liberalisation, and roughly started with the Hawke govt. They included things like privatisation of government assets, labour market and financial system deregulation, globalisation and reduced trade protections, reduced restrictions on international capital flows, a general reduction in the welfare state, microeconomic reform, enhanced competition policy, deregulation of various industries such as transport and telecommunications and airlines, tax reform, etc.

The motivation for economic rationalism would also be well known and possibly have been experienced by some: inflation and stagflation in the 70s and 80s, influence from ideas from economic theory particularly the benefits of free trade, compared to nowadays relatively volatile boom-bust swings in the business cycle, the perceived need for global competitiveness and in general a focus on increased economic efficiency, a rise in free market ideology and belief in the power and effectiveness of markets, a belief that these reforms would drive sustained long-term gains in productivity and wages, etc.

The inflation of the 70s and 80s was definitely one of the main factors, and it also had a big impact on the why the Reserve Bank's (nearly sole) focus of monetary policy is inflation targeting. And crush inflation they did - it stood no chance at all against these domestic reforms aimed at increasing competition combined with significant international competition and relentless inflation targeting...! And our economy is very resilient and stable, and has very impressively withstood some major economic shocks in the past few decades: Asian financial crisis, sovereign debt crises, tech/dot-com bubble, GFC, now covid, etc...

But one spectacular failure has been productivity and wages growth - this promise just didn't materialise. And this may also be reflective of more general, broader social and cultural realities of a nation having gone through a few decades of economic reforms focused on increasing competition: Australia seems to be going down the path of becoming an increasingly one-dimensional, socially and culturally bankrupt nation focused solely on creating an increasingly competitive, dog-eat-dog, rat-race society in which it's a struggle just to survive and put food on one's plate.

I just wonder: all the economic reforms focused on deregulation, efficiency and competition - but at what social and human cost?

And this is coming from someone who has been fortunate to do well enough to semi-retire in my mid 40s.

I know this might be a reflection of living on the Sunshine Coast which is currently seriously heaving, straining and bursting at the seams from population growth - seemingly a bunch of opportunistic, zero care factor city people with no connection to the place. But I see most people around me increasingly hammering away and working their arses off in an increasingly competitive, cut-throat, ruthless society but largely getting nowhere, just going around in circles, spinning their wheels, and the walls just closing in around them, barely staying afloat. And I see a significant portion of society being left behind.

I also wonder about these things after having travelled to northern Europe, especially the Nordic/Scandinavian countries, and experienced their cultures and way of life. I have to say, the social, cultural and living standards outcomes in those countries seem much better and more balanced that in Australia, the US and the UK... Actually I've travelled through a lot of Asia and a thought I regularly had was I really only saw extreme poverty in the US. And of course the Nordic countries all rank the highest on world happiness, development index, etc reports (I know Aus also ranks fairly well too), and I can see why.

The thing I find strange is now a lot of nations are having a rethink and there is possibly paradigm shift taking place, such as in the US Biden administration, but the kickback and resistance to the economic ideas and principles that make the Nordic countries great places is just fierce. There seems to be full blown warfare like tactics from many corners of society of mass misinformation, propaganda, smoke-and-mirrors, diversions and distractions etc all aimed at sabotaging, undermining and discrediting the consideration of these economic realities of these really well developed northern European nations. These Nordic countries are also regularly termed as communist/socialist, which is completely absurd.

I think there is a lot to be said for Australia just stopping, taking a good hard look around at what's going on in the world, and choosing a more intelligent way forward economically, culturally and socially - including moving away and distancing itself from the US model - instead of continuing to go down the path of a one-dimensional nation focused on creating a society based on extreme competition.

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freeride76 Sunday, 3 Oct 2021 at 7:09am

great post GSCO

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Fliplid Sunday, 3 Oct 2021 at 7:34am

+1

Not sure about the re-think in policy though, at least here in Australia.

A good portion of the nordic countries success could probably be tied to their education policies. Here in Australia that isn’t likely to change. We’re actually gearing up to make it easier to import skilled workers rather than making it easier to train/ educate our own

Agree with everything else though. You’re lucky to have seen it first hand

blindboy's picture
blindboy's picture
blindboy Sunday, 3 Oct 2021 at 9:30am

Thanks gsco, another great contribution. I will throw my 2c worth in later.

indo-dreaming's picture
indo-dreaming's picture
indo-dreaming Sunday, 3 Oct 2021 at 9:43am

No idea how happiness index's are worked out, but id take them with a big grain of salt, each to their own but i wouldn't live in one of those countries if you paid me.

But if you could measure things in Australia you would expect if you compared city populations with regional areas, im betting cities would rank low and regional areas that still have access to services rank much higher.

We have already seen people figure this out, first came the sea change/tree change type thing, now with Covid we are getting a second type wave of people moving from cities to regional areas for a better lifestyle.

I think most people are happy when they have a well balanced life, work life balance and surrounded by family and friends and also can get out and about in some degree of nature, rather than being trapped in a concrete jungle and a one hour commute home in stop start traffic too tired to even spend any time with kids etc. (oh and a sense of community is important too)

Problem these days is most families need both partners to work to achieve the things they want, which leaves less time to spend with family, so even though equality of the sexes has had many positives, the break down of traditional roles has also caused us other problems.

I see this in Indonesia where roles are more traditional and family more important, same deal with community, despite negatives of being a developing country they get a lot of other things right, like helping each other and looking after their parents (elderly) rather than seeing them as a burden and putting them in an aged care home etc.

BTW. Competition is completely natural, it's why we are human and have evolved to what we are, we strive to be better and evolve, competition plays a big part in this.