"I for one welcome our insect overlords" - The Politics Thread

[dibo]

It's also from 5 years before the GFC, so a lot of the thinking within it is pretty much shot.

Nobody seriously expected that 10 years on we'd have unemployment with a 6 in front of it, a cash rate of 2%, headline inflation below 2% and stagnant consumer confidence and spending.

We're in a really different situation now, consumer and business behaviour is *so* risk averse it's not funny.

At the same time, we've got a property bubble (because there's nothing safer than bricks'n'mortar, right?) that gives both the Treasury Secretary and the Governor of the RBA the screaming heeby-jeebies because if it goes tits up we're going to lose a bank or two.

Almost *all* the 'common wisdom' of 2005 or so has been tossed out the window in the decade since.

 

[midfielder]

Almost *all* the 'common wisdom' of 2005 or so has been tossed out the window in the decade since.

Yes and No .... what happened was Wall Street Banks developed lending and financial practices of such risk and lost so much money they sent the world into a FC bringing on a housing collapse across much of the western world and sending many European and Asian banks into serious trouble... Post this has seen the rise of China in picking up some cheap assets and puffing out their chest along with a gas fuelled Russia ... many see parallels to 20's and 30's both economic, power vacuums as the US is struggling, and the rise of a new power block in Russia and China...

The common wisdom of pre 2005 was for Wall Street not to sell junk bonds to the world and lending practices copied in Europe on building homes and flats see Spain as the worst effected ... again common wisdom of the day would never have lent some much on housing especially in Spain ... the corruption of housing prices, commissions etc in the US again was not common wisdom it was lending and building practices totally outside common wisdom...

The crash in house prices and the lack of trust between major banks and nations in each other at the time almost saw a depression unseen since the great depression ... twas the ignoring of wisdom and history that lead to the WFC... lets hope we don't ignore other events that parallel those times and a new world war starts ...

 

[dibo]

I'm more worried about the Australian housing market taking down a bank or two here, the idea of a world war is fanciful.

 

[midfielder]

I have read a number of history articles from the BBX but can't find them here are some arguments ... not the best however you should not ignore history...

10 Signs We Are Headed Into World War III

http://listverse.com/2014/03/06/10-signs-we-are-headed-into-world-war-iii/

What are the chances of a third world war?

http://www.bbc.com/news/world-26271024

5 Places Where World War Three Could Break Out

http://nationalinterest.org/feature/5-places-where-world-war-three-could-break-out-11487

Are we on the brink of World War III?

http://english.pravda.ru/opinion/columnists/27-03-2015/130132-world_war_three-0/

How realistic is the possibility of a World War III?

http://www.quora.com/How-realistic-is-the-possibility-of-a-World-War-III

 

[dibo]

It's the internet - if you're looking for it you can find any number if people expressing the opinion you seek. It doesn't make it remotely plausible.

[See also: wind farm opposition, antivax, religious extremism]

 

[true believer]

I have read a number of history articles from the BBX but can't find them here are some arguments ... not the best however you should not ignore history...

10 Signs We Are Headed Into World War III

http://listverse.com/2014/03/06/10-signs-we-are-headed-into-world-war-iii/

What are the chances of a third world war?

http://www.bbc.com/news/world-26271024

5 Places Where World War Three Could Break Out

http://nationalinterest.org/feature/5-places-where-world-war-three-could-break-out-11487

Are we on the brink of World War III?

http://english.pravda.ru/opinion/columnists/27-03-2015/130132-world_war_three-0/

How realistic is the possibility of a World War III?

http://www.quora.com/How-realistic-is-the-possibility-of-a-World-War-III

you should worry about jeb bush winning in 2016 and then picking a fight with Iran.
on behalf of the Saudi's and Israeli's . that's the real ticket .

 

[JoyfulPenguin]

Just saw Tony Abbott on the ABC in response to officials being bribed to bring boats to Indonesia ignores the question and the serious consequences of it and says "All that matters is we stopped the boats"

 

[dibo]

If Labor had refused to confirm or deny whether it had bribed criminal gangs there'd be calls for a royal commission.

 

[dibo]

 

[Rowdy]

The cartoon depicting "a bag of money" is totally inaccurate.

Some have even suggested that there are ATM's on our naval vessels.

The facts of the matter are we live in a technological age......... Tony Abbott is using the "Tap'N'Go" system!

 

[true believer]

If Labor had refused to confirm or deny whether it had bribed criminal gangs there'd be calls for a royal commission.

and whats next ? paying crystal meth dealers not to bring their product into Australia ?

 

[Einstein]

Ummmm bit awkward in here hey....
Bill will not last the month!

 

[dibo]

Ummmm bit awkward in here hey....
Bill will not last the month!

What's awkward? Tony Abbott bribing boat crews to turn around?

 

[dibo]

I find it a bit unbelievable that the Coalition are going after Bill Shorten over union deals that stripped workers of their penalty rates but bolsters their membership.

When a similar deal was struck by the ultra-conservative SDA, the Minister seemed to think it was great (see here: http://www.smh.com.au/federal-polit...lties-for-retail-workers-20150324-1m698b.html)

'The deal was hailed by Employment Minister Eric Abetz, who has applauded the "constructive approach" to enterprise bargaining, while business groups have urged a similar trade-off to be adopted nationally.'
​

and

'Senator Abetz said the deal highlighted "the benefits of encouraging workplaces to sit down and negotiate terms and conditions that suit their specific needs".

Setting penalty rates is a matter for the Fair Work Commission, but if workplaces can arrange a better deal on which they agree that complies with the law, they should be encouraged to do so," he said.'​

The SDA:

'pays major employers including Coles and Woolworths up to $5 million a year in commissions that help maintain its large membership, and influence in the Labor Party' (http://www.smh.com.au/national/shop...ions-to-boost-membership-20150501-1mxufa.html)​

So in other words, what's good for the goose is good for the gander.

My view - both the AWU and SDA are f**ked up sellouts, but you can't attack unions for representing their members' interests (as the trade union royal commission is doing) *and* attack them for *not* representing their members' interests.

 

[dibo]

The Bronwyn Bishop stuff is all a bit of good fun, and everyone likes watching a dragon squirm, but it's also all a bit of nice cover for the play that really matters this week, acts two and three of this Government's greatest swindle.

Act 1: In the 2014 budget the forward allocations to the States for health and education have been cut by $80bn (sorry, there are $80bn in 'savings' - same shit). Collectively this leaves the States with an enormous budget hole to fill.

Act 2: Hockey tells the states that to fund themselves they ought to raise the GST.

Act 3: The coup de grace - Hockey proposes tax cuts!

So in getting someone else to pay for health and education funding, they get someone else to pay for tax cuts. Apparently economic responsibility is making things someone else's problem.

No need to address superannuation tax concessions. No need to address negative gearing. No need to address the CGT discount. Just get poor people to pay more for their milk and bread and you can have a tax cut.

 

[Capn Gus Bloodbeard]

AFR is paywalled dibo.

The funny thing about the Bishop debacle is that she's a bit of a scapegoat. A number of other LNP ministers, including Abbott, have been caught blatantly doing the wrong thing with these sort of allowance. And each time they just pay it back. No accountability whatsoever.
I mean, heck, can you imagine if the punishment for shoplifting was simply that you had to pay for the items you were stealing on that trip?
It's disgraceful. While it's great that there's pressure on her (she is doing everything possible to undermine out democracy), it's a shame that others get off scot free.
Disturbing how the AFP seem to have complete double standards as well. They refused to investigate this, yet they investigated Slipper.

I can't help but think that if Shorten really got on his soapbox and proposed making some real changes to stop this sort of thing he'd get some real support. Increasing the rights/responsibilities of the AFP, a separate body to oversee these sorts of claims, stricter punishments, something like that. Of course he won't because he's completely spineless and it would probably cost a few ALP caps as well, but it he made such policy knowing that then it would show strong leadership and integrity - 2 things he hasn't shown so far. Ideally, of course, it would be a federal ICAC and we would stop accepting excuses of 'administrative oversight' (could you imagine pulling that one for a private company??).

Abbott increasing the GST is right out of Howard's playbook. Get in first term with promises not to increase the GST, then increase it second term. Which is fine as he wouldn't be breaking any promises if that's his intention (first time for everything), though it is just another attack on the poor from this over-priveleged, over-entitled bunch of pigs at the trough.

 

[dibo]

AFR is paywalled dibo.

I can go straight to them. No paywall for me. Maybe Fairfax has blocked you for being a rouser of rabble?

 

[nearlyyellow]

AFR is paywalled dibo

I can go straight to them. No paywall for me. Maybe Fairfax has blocked you for being a rouser of rabble?

I can open the link CGB. Do you keep cookies? Maybe that is your problem, your browser has recorded via cookies that you have previously visited AFR and after a set number of visits (? ?) they want you to pay up. I *always* set my browser to delete all cookies on exit, cookies are only available for the current session only. Sorry, a bit OT there.

 

[Big Al]

Right on que mike beard to "break the ice" we need to increase GST to 15%.

I've heard 12.5% thrown around a lot but 15% ouch.

Personally I think they should stop mucking around and just put the 10% on everything thing and see what that brings first. Still can't comprehend why they didn't do this at the beginning would have made compliance so much easier.

As for Bronwyn she should become a member for the coast and push for helicopter flights for all coasties who need to travel to Sydney.

 

[MagpieMariner]

They originally wanted to put 10% on everything, but that stupid bitch Meg Lees (Greens leader with the balance of power) negotiated so that it was no different to the old sales tax.