TE-BO: “The Australian” hits the mark – at last … a group of stories on the same day that ‘gel’ with my thinking …
|TE-BO: “The Australian” hits the mark – at last … a group of stories on the same day that ‘gel’ with my thinking …
| Author: TE-BO – The Eye-Ball Opinion| Date: April 24th, 2014 |
I began today looking for news stories that held interest, it’s a normal beginning. I have RSS feeds to several publications and the ‘troll’ generally takes about 30 minutes across about 3-400 headlines. On a normal day I might browse up to 10 stories and do searches for other opinions on the same subject to try and get objective opinion.
Today – I found a pot of gold in ‘The Australian’ and could not have wished some of the subjects referred to in these stories and how uncomfortable they might be feeling.
For starters a warning – this post is long. I intend to re-publish each story in full with some commentary. The reason for the full publication is of course the tiresome way one has to go around the on-line reading experience if you are not a subscriber to ‘The Australian’s’ digital service – so all to make your reading easier …
Click on any of the links provided below to skip to the story you want to next read – return links provided”
Index of Stories:
Not a word in the story above about what Hawke or Keating has to say about the ALP corruption scandals doing the rounds at the moment. Guess we’ll have to read the book to find out if they had anything to say.
If not then Troy Bramston as a journalist either was not allowed to ask the important questions, or he was just not brazen enough to corner two stalwart ALP Prime Ministers and extract opinions all ALP supporters want to hear.
There is no real debate against the observations reported above – but we all know there is a lot more going on in the background and everybody is keeping things very close with a Royal Commission and the ICAC inquiry’s in the wind.
On the strength of how memory is playing its role in evidence – there should be one outcome that affects all Local, State, and Federal Committee meetings dealing with Government contracts and the like to be recorded in video and audio. Then the memory defense would be no longer an issue. I suppose then there would be the ‘missing’ tapes evidence as corrupt representatives find an alternative way to lose ‘the evidence’ of conversation and attendance.
On another spike – the story is raking over coals involving another Coalition Premier – am beginning to smell rats in the Prosecutors direction … that ‘rat’ smell is something to keep an eye on.
A story where if it were not so important, one might think that levity over the ‘currency’ and ‘inflation’ levers is not a serious issue. Let me state – the rise of the A$ from its mean average since the float in ’83 of A$0.75c or close enough – to the early 2000 rises above A$0.90c and onto A$1.10+ levels under Rudd/Gillard, cost Australian exporters at a conservative calculation somewhere near A$4 trillion.
Over say the recent 15 year period where the A$ has appreciated and remained high with respect to the mean average – this A$4 trillion is A$270 billion a year. That is almost the entire new public spend during the Rudd/Gillard term in office. Who is watching the value of the A$ and the damage to Australia’s competitiveness – it is certainly not the Reserve Bank.
The chart below gives a appreciation of the A$ movements up until late 2013.
You want a reason as to why jobs are being shipped off-shore, why car manufacturing is closing down, why petroleum refinery is shutting down, why our farmers are screaming at the cost to their bottom line – all because nobody wants to think outside the square on what a ‘floating currency’ without tariffs and subsidies costs a Nation over time.
Glen Stevens should walk down Pitt St naked and hang his head in shame. Global markets have ripped A$ trillions out of our economy without any concern shown from the RBA. It’s a tragedy and when the number of words written about the Rudd/Gillard deficit spend is counted by comparison – there is not a goddamn financial journalist in this Nation worth a pinch of crap.
All talk at this stage, but I like the concept. We all know that the relationship between big business and Government will always be there, the crux is in how they both get what they want as opposed to someone paying for what they want.
It’s early days for Baird and I cannot believe that the media think O’Farrell’s exit will give the NSW ALP any good news. If voters are in agreement with the theme of Waleed Aly’s story last week then heaven help the Nation.
Joe Hockey is a very limited Politician. His positioning as Treasurer was as a block for Tony Abbott against Malcolm Turnbull. Abbott’s advisers – after he won the spill to replace Turnbull by a single vote, ensured Turnbull was kept on the front bench but out of the limelight.
It was a move designed to protect Abbott and not the Australian people from successive idiot Treasurers. Obviously Swan is the biggest fuck-wit ever to be crowned ‘Treasurer of the Year’, and the greatest blunder the ALP made under Rudd and Gillard Governments. Joe can only aspire to do better with his limited knowledge of global finance. He’s a politician first and a financial wizard wannabe is way down the line.
Hockey has yet to match that extreme dumbness – but when the PM decided his position is more important then putting the best man in the job to run the Nations finances, you just know it is not going to work out for the good or all concerned.
The story above is written by equally dumb journalist who never challenge a Treasurer with a better idea ‘on the record’.
All successive Treasurers try to do is limit expenditure and to inflation index’s whilst the revenue is a crap-shoot dependent on how the public feel about how they are being governed. All business’ rely on revenue before they make plans about expenditure. Governments are never trained to think like that. So budget forecasts are a waste of time. No new Government is going to freeze index budget increases until revenues are shored up. That would make then an automatic one term Government.
The changes needed to balance expenditures with revenues whilst not increasing the higher threshold tax levels is a magicians challenge. The hype about the GST increasing to 12:5% or higher is the simplest way to spread the tax collection needed. It does discriminate and the ways to avoid this provide a race track with speed bumps every 100 meters … nobody would finish the race …
All it would do is pressure the CPI and expand the ‘black/cash’ market which was the selling point Howard and Costello used to get the GST legislated in the first place. I bet there is not one reader who has not offered or been offered a cheaper deal for cash to avoid the GST since it was invoked. We were all conned in the late 90’s – the States did not argue because they saw the cash cow as an answer to their own budget issues. How many States still have mortgage stamp duty, and transfer fees, one of the things they all said they’d get rid off once the GST came in.
Joe – I know your limited ability is impacting on your health in the job you have to do – you don’t get much help from a bunch of Treasury Bureaucrats who embarrass the term ‘public servant’. It’s time for you to sweep them all out and hire a team of wiz-bang financial guru’s who will give you options that are far more palatable for the masses. I guarantee you that Politicians and the extremely wealthy will not like the ideas – but you are a Government steeped in democracy where the majority should be more favoured than the minority.
So in that vein, the welfare threats you make – are you willing to sacrifice your own remunerations to the same degree – or go a bit further to show the Australian public you understand that leadership is best tested when they set the example?