Rostrum: 20 Weeks to the Election Edition!

“The ALP doesn’t deserve success or support and the Liberals don’t deserve government.”

The Howard gov’t was a successful govt. Your heroes in the ALP have locked up more children than Howard ever did.

Now your heroes have brought out the lame and infirm and people with dementia to help them win the next election.

We will not know what an Abbott govt is like until he is elected. he may be like Howard or he may be completely different. Or he may be like Gillard.

We are now paying $7B/year in interest on the debt Labor has racked up since 2007. That would go a long way to paying for the NDIS.

Its a slow news day…

‘With the eagerly anticipated global release of the latest Penfolds Grange looming, national liquor chain Dan Murphy’s has leapt out of the gates to offer a price of $669 per bottle, a 15 per cent discount to the recommended retail price for the iconic wine.’

Read more: http://www.smh.com.au/business/dan-murphys-pops-cork-on-grange-price-war-20130502-2itra.html#ixzz2S57ZuxLX

Its interesting to speculate on our origins. If there wasn’t the need to find somewhere new to dump their convicts, after the American war of independence, Australia may not have been invaded until well into the 19th century.

Here’s another headache for Gillard.

Alcoa have announced this morning a complete review of their aluminium smelting worldwide and will be shutting down 11% of high cost capacity

“……The review will include facilities across the Alcoa system and will focus on higher‐cost plants and plants that have long‐term risk due to factors such as energy costs or regulatory uncertainty. The possible curtailments could affect 11 percent of Alcoa’s global smelting capacity……..”

So there goes a few more jobs

Thanks for the Carbon Tax Gillard you low life grub

I was under the impression that accountants would do well out of this tax on a harmless trace gas.

Don’t suppose anyone else saw Jones Vs Sonnen on the weekend?

I didn’t know a man could break a big toe that heinously. 😯

The Bolter is a little miffed that a another left wing character has been chosen for the Media Watch job…. his application was rejected out of hand.

Don’t worry egg. The people at the Cafe have the solution. Debt is not a problem if you are sovereign in your own currency. You can just get the printing presses up and running and print your way out of trouble.

Printing money is the solution to all our problems.

Buy wheat futures.

http://seekingalpha.com/article/1383061-crop-progress-only-5-of-corn-crop-planted?source=google_news

Debt is not bad if we have the ability to service it.

If we go out of our way to print more money (quantitative easing) then obviously this will reduce the value of the currency. Our manufacturers wouldn’t mind seeing a devaluation right now, but that’s unlikely to happen anytime soon.

The left tend to spend money like its going out of fashion, while the right have a more pragmatic approach….being in the black.

I’ll leave that to the Finance Editor, he should be in the office around 9am.

Meanwhile, 69% of SMH readers wouldn’t like Andrew Bolt as the anchor of Media Watch….fkn leftards.

Ah…I’m on a pension and its indexed, but I still have to work to stay alive.

I’m more interested in the bigger picture.

‘INTEREST rates could be cut to a record low of 2.75 per cent next week as financial markets become sharply more pessimistic about the outlook following a run of weak economic data in Australia and overseas.

‘Bond markets raised the chances of a rate cut at next Tuesday’s Reserve Bank board meeting to 56 per cent, up from 36 per cent the previous day.’

David Uren in the Oz

7.30 should explain how much debt he wants.

Another 10%? Or 20% or 50%

That’s the thing with those hooked on debt, they hate to get specific. They like to make the profligacy of this government a problem that is dealt with by the next generation.

So Mark Dreyfus is big noting himself and disregarded specific instructions from an approved airline safety officer (yes that’s what those hosties are)

Mobile phones can interfere with aircraft radio and navigation systems, there is good reason that people are asked to turn them off. But Dreyfus considers himself above all that, too important, those types of safety regulations only apply to the rest of us.

If the Attorney General can’t comply with a safety instruction under a CASA regulation, who should comply?

He’s a tool and should get plenty of scrutiny for his cavalier attitude to airline safety.

Once we have paid off our debt we’ll have more disposable income to invest in leisure.

7.30, when you have money in the bank you can buy things. A hospital. A school. A Broadband network. A road. A railway. You can distribute money to constituents who might be struggling to make their lives a bit easier. As a nation, you have freedom and choices.

When you rack up a bunch of debt, you need to spend your income servicing that debt and eventually paying it off. Or you can keep borrowing more and head down the Cyprus path.

Debt is not always a bad thing. Sometimes you need to borrow for necessary capital expenditure.

But when you are borrowing to fund the utterly fkn stupid cr@p dished up by the current Government, and there’s a fair chance that the basis upon which your debt servicing capacity was false (many predicted that the revenues were grossly overstated), and there’s a fair chance that the current revenue levels may well drop dramatically soon as the mining boom slows up, then racking up debt is utterly fkn stupid. Unless of course it’s your objective to completely trash an economy so you can create a justification for substituting a different set of economic principals which I am more and more convinced is occuring.

I like it when my Government has enough money to fund roads, hospitals, schools etc. I don’t like it when I have to allocate more of my income, which I get for working, towards paying the salaries of bureaucrats who contribute nothing of value to my society.

I’ve changed my mind on the NDIS…….Channelling Bolt……

Division 1 Introduction

6.5 The CEO may consider advice from a suitably qualified panel of experts on the available evidence for the purposes of making a determination…

I have over the last 2 years worked in the Workers’ Comp Law area and what is described here is something that will have the Slater & Gordons licking their lips. This won’t be about those in wheelchairs, or those who are blind, or profoundly deaf. It’ll be about back strains, shoulder tears, depression and any number of other conditions which, whilst difficult for the sufferer, do not necessarily render them incapable of making a contribution to society but given such a financial incentive, inevitably will.

I say no.

I wonder what the cost would be for those basics like a wheelchair, hearing aids, and the like. I agree that $10k towards a $22k wheelchair is silly. Pay the lot. But don’t create a definition that we know in advance will be milked by the lawyers for all it’s worth.

7.30… Bolt was taking the piss, the ABC morning program was discussing Barry and how he had the job before the Bolter pulled his stunt.

The ABC newsroom is a disgrace, its full of leftards and needs purging.

Looks like Immigration Minister Brendan O’Connor would make a good treasurer…………….

”Well, I’m making a forecast. I’m making a forecast like others have made forecasts. The difference is I seem to be being challenged – fine,”

Read more: http://www.smh.com.au/opinion/political-news/457-visa-rort-figure-a-forecast-minister-admits-20130503-2ix3t.html#ixzz2SC8LcpqJ

Oh please how long until we have an election and this nightmare is over ?

Regardless, NBN is still behind schedule, low take up rates and over budget. Now we have the communications/electrical union teaming up with the small contractors to get more out of the principals.

On top of this, NBN don’t trust their principal contractors. They don’t believe their excuses for overruns and delays.

NBN is a great example of an ALP infrastructure project.

The NBN reminds me of the Caledonian canal in Scotland, train travel surpassed it, leaving a very expensive government funded white elephant.

Oh yes………Sortius………LOL………..we have seen an example of his “expertise” before when he swore black and blue that a date stamp on a document from Tony Abbott’s office could not be true.

Sortius is to technology what Wixxy is to the Thommo case

So where is the UPS to homes in the event of a power failure?

I’m simply suggesting that fibre won’t be free of maintenance.

I agree 7.30 and ToM also gave me some good advice on this a couple of weeks ago, which I have taken on board.

The Sydney to Canberra run might go ahead at some point because of Sydney’s need for a second airport.

‘ABORIGINAL women who are victims of violent domestic clashes have been sentenced to jail in regional NSW after retreating from their claims against their abuser – a trend that has sparked calls for an urgent review of police handling of false accusation cases.

‘The Weekend Australian has uncovered 20 cases in which 19 indigenous women and one 17-year-old girl from towns stretching from Walgett to Wagga Wagga were prosecuted after retracting the substance of police statements made immediately following an alleged domestic incident.’

Natasha Robinson in the Oz

“our debt is like being on $100k and having a $10k mortgage”

I could pay off a $10K debt on that salary in a couple of months. Lets see Swan pay off the $250B he has created since 2007 in a couple of months

Abbott is talking straight, he’s confident of the outcome, but will accept the majority rule. No skin off his nose.

7.30, I think that might be where you show a lack of understanding of the support the resources sector provides to the economy.

If you wander up and down St Kilda Rd in Melbourne, or around North Sydney, or Southbank in Brisbane, you’ll see the range of engineering, financial, recruitment, services companies that are entirely or substantially supported by the resources sector.

It provides a far greater benefit to employment than simply the number of people who work on site.

A reduction in the activity in resources sector will have a significant economic and employment effect.

Ultimately the $ will fall, and manufacturing will be more viable, and perhaps some support is reasonable in the interim.

“Manufacturing will struggle, particularly vehicle manufacturing, until the $ falls”

I think a strong dollar is bad for exports but good for imports. If the car makers import lots of stuff to make a car it may not make much of a difference.

But it does look like a main reason for maintaining car making is because it is a National security issue. We need to be able to make things here if Australia is attacked.

Also I think there is a large flow on effect to people who make things for the car companies. The flow on effect may more than make up for the subsidies.

But I must admit i was annoyed when i found out people on the production line at Holden are on 94K/year. And with overtime they can earn >100K. I do not think subsidies should be going to keep wages so high.

Just an observation, with US interest rates at 0.25 its almost in tune with Islamic banking.

‘Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as riba, or usury) for loans of money.’

We live in strange times.

“Just an observation, with US interest rates at 0.25 its almost in tune with Islamic banking.”

And I think ours is at 4%. I think this means we are paying 16 times more on interest for our debt than the Americans. Is this wrong?? Our govt debt is at 10% of gdp and this could mean that repayments are similar to 160% of GDP if we compare our repayments compared to the Americans.

I just watched Lateline. Stephen Koukoulas was on. He made the amazing statement that Australia’s main problem was that we do not have enough debt. We need to increase our debt for some reason according to Koukoulas.

‘Mr-Rabbit is a dedicated dog-botherer,’

But it won’t interfere with government business and the reason is simple, a huge influx of backbenchers could make life difficult for Abbott.

He has witnessed joolya’s autocratic and divisive approach to government and he won’t be following suite.

There is a clique in the party who want gay marriage and if they think they have the numbers then it will go to a formal vote.

The left are paranoid about this catlick man… can’t see what all the fuss is about.

Andrew Bolt has been channeling me…

‘If those in charge of the ABC are incapable of addressing the ABC’s bias, the ABC’s critics have no option but to call for the ABC to be starved or sold.

‘What can’t be fixed must be broken, and should be junked.’

Mines aren’t particularly labour intensive now. There aren’t hundreds of truck drivers employed on any mine.

Equipment is now more reliable, so less fitters and electricians employed – but even robot driven machinery has to be shut down for maintenance – by people.

Mining employs people in CBD office based engineering, planning, finance, and it will continue for a while yet.

But eventually it will decline, our $ will fall, and it would be handy to have a base load of manufacturing to continue to retain some technical capability.

It is the high wages in Australia which is killing us. Germany is a large exporter with similar wage rates but they have Europe to sell to and I think they major in high tech stuff.

And the cry went up… FREE TRADE or PROTECTION?

This has been around for over a hundred years and perhaps its time to consider our future.

I thought it was dropping the tariffs which wiped out our manufacturing base. I think people came to the conclusion we could make televisions in Australia for say $5,000 or import them from China for $500.

I think dropping the tariffs had bipartisan support.

The ‘progressive’ (sic) blogosphere ‘have just accepted (the NDIS) as a political victory for Abbott, not a policy win for Julia Gillard’s government.’

Joolya thought she had him wedged….ha ha.

Old habits die hard. Maitland is well practiced in lying, as are so many corrupt union officials. Maitland’s old union continues to expand its power in the ALP.

Former union boss John Maitland has been caught lying to a corruption hearing within minutes of sitting in the witness box.

A secret recording of a phone conversation was played to Mr Maitland after he was asked repeatedly whether he had ever lied to the inquiry and if he understood he must not discuss private evidence with others outside.

From The Age

I see SB linked the same story.

I wonder how many current ALP MPs were sponsored by Maitland…Combet certainly as a former MUA official.

Maitland is a crook, but he’s been a stalwart of the ALP hack/faceless man/warlord structure. The ALP is just poisoned with this type, and a couple of terms in opposition might encourage them to offload their corrupt structure.

“There’s only one vote for it in the party room.”

It makes Abbott look good in the eyes of women, so even if the party room force him to drop the PPL scheme it doesn’t matter….

That really should read…..”You don’t go long in politics”….. Use of the expression is not a condition of success, just that it goes with the territory.

“The notion that professional women should be encouraged to have children is reasonable, and good for society. ”

That’s right. Professional women who have a high degree of education don’t just breed like many others do.

Unlike the the “breeders” that just lay in wait each night for any sign of a flouro jacket coming in the front door early as no overtime means the income will need to be made up for somehow in order to afford the fags , the pokies and a few cartons of VB.

Then once they are past being fertile they just hang out watching question time well into their senior years.

They truly are tiresome burdens upon the rest of us

‘Unlike the lower middle class “breeders” who consider it a decent investment.

‘Baby Bonus is a non-taxable, income tested payment of $5,000 per eligible child paid in 13 fortnightly instalments.’

The baby bonus is middle class welfare and should be abolished altogether.

‘Unlike the the “breeders” that just lay in wait each night for any sign of a flouro jacket coming in the front door early as no overtime means the income will need to be made up for somehow in order to afford the fags , the pokies and a few cartons of VB.’

Nice. 😉

“Christians, who make up some 42 percent of Asian-Americans, face surveillance and repression, particularly, in China, where religion is tightly regulated, and dissent from the party line can land adherents in jail. Over half of Asian immigrants, Pew notes, cite freedom of religion as a key advantage of living in America. New faith-based migration could also be seen soon among Christians fleeing increasingly Islamic regimes in Egypt, Syria and other Middle Eastern countries.”

Religious freedom lures many to U.S. from Asia

If the upper middle class can’t be subsidised, then the lower middle class shouldn’t either…. its only fair.

Baby Bonus is a non-taxable, income tested payment of $5,000 per eligible child paid in 13 fortnightly instalments.’

That’s right Egg…………………………..6 months of tax free fags and booze money and pokies.

Nothing of the sort, but you do show your snobbery and your downward envy of anything other than a big stick approach to the poor. Your own ‘top-down’ class warfare is always screamingly obvious.

The BB was introduced as the only acceptable version of maternity leave for liberals, it was deliberately not means tested. The libs could not bear the thought that wealthy stay-at-home mums would not get baby making money from taxpayers. Apparently they must have ‘equality’ with the paid workforce even if they don’t work.

Does anyone really think abbotts PPL will eventuate?

We’ll have a partisan ‘independent’ audit that will find we are so badly off due to ‘labor’s spending’ that the nation cannot afford anything, we must have austerity for everyone but the wealthy. There will be no mention of the structural deficit that labor inherited from howard/costello with middle class welfare and the necessary shepherding of the country through the GFC. We’ll need to sell everything off and there will be immediate calls for increased productivity through all kinds of urgent IR reforms. The PPL will be shoved to the back room never to see the light of day. We will get ‘teh surplus’ but it will come from the transfer of federal govt debt to ordinary australians – watch the private debt soar.

Abbott should have a 5 year program to extend the current very modest scheme.

The Gillard scheme is incredibly miserly by international standards.

”they don’t have time to be discerning and have to settle for any old gigolo!”

They could do worse, and choose a former crooner from Brisbane who wears zip up shoes, and thinks shiraz should be chilled and arrive on the table in a 4 litre box.

And………………

“Nothing of the sort, but you do show your snobbery and your downward envy of anything other than a big stick approach to the poor. Your own ‘top-down’ class warfare is always screamingly obvious. ”

PMLATO

(Pissing Myself Laughing At That One)

And the pooftas……it’s them pooftas that get me!!

Another point. We are paying much higher interest rates on our government debt. So interest payments on govt debt at 30% of GDP is most probably similar to some European country with govt debt at 100% of GDP.

What is our bond rate compared to Germany’s?? I think you will find ours is much higher. We are paying a lot more interest on our smaller amount of debt which most probably equals what Germany is paying on their larger amount of debt.

And remember you have to add Federal and State debt together which equals about 30% of our GDP.

Another example of “We Told You So to Swan”

And now we have the news that part of the Carbon Tax compensation now needs to be removed because they set the tax per tonne too high.

But as usual they ignored all the warings.

http://www.news.com.au/national-news/federal-election/families-to-miss-out-on-promised-tax-cuts-as-budget-woes-continue/story-fnho52ip-1226637363434

“So, Kneel, what, Wally, is actually saying … especially if it was someone who he disagreed with … is that you’re talking out of your arse (see above)”

What did i say that was wrong?? I think Walrus was replying to 7.30.

And I still think Howard was right .Interest rates would have been lower under the Coalition. Bad news of course for self funded retirees.

Have you seen the cash rates in Europe?? Ours are WAY above everybody else. Some countries have a zero cash rate.

Why are our rates so much higher than Europe. It looks strange.

I think Howard is being taken waaaaaaaaaaaaaaay out of the context of the time these days.

I think he was implying with his “rates will always be lower line” that given normal circumstances the RBA will respond to an LNP government in line with the long term trend on the low side.

The implication being that if the ALP was in power and expenditure was out of control the RBA would need to raise rates higher to rein in the economy. Now we find they have spent so much they need to contract severely with the RBA doing all the heavy lifting. So here we sit at “emergency rates”. And they are fuckwit Swan’s own words during the GFC for rates at this level.

And don’t forget Howard said that when the Big 4 were raising and lowering in line with the RBA in the main.

But those days are gone and the Big 4 do what they like.

Besides whether rates are higher or lower depends very much on the normal interest “price” plus the risk premium attached (perhaps a Forex fear) which is dependent on where a Bank is raising the funds i.e. domestic or overseas.

A very complex mechanism.

But a bunch of economic fuckwits running the joint does not help.

‘Why are our rates so much higher than Europe. It looks strange.’

The mining boom was the prime mover in Oz, to restrain inflationary pressure, but now the fat lady sings.

The nearby goldmine is coming off and workers are being given notice, which negatively impacts the nearest town in a multitude of ways.

Cheap fuel and stories like this will save the USA.

Could you imagine something like this happening in China ?

http://techland.time.com/2013/03/04/how-an-83-year-old-inventor-beat-the-high-cost-of-3d-printing/

‘Nothing says “‘look at how many amazing people Canberra has produced” quite like a hideous airborne turtle with ten tits.’

😯

No probs TB

“Ask anyone who invented the transistor and you’ll be surprised at some of the answers …”

Some hairy bloke in a dress ?