The Royal Commission: Unleashed!

Yes Shane perversely this WILL reduce competition in the home loan market
I think both sides of politics need to be careful about the mortgage broker market

I think the bank stocks will go up on ASX tomorrow depending on Wall Street staying fairly normal on a world market basis.

Very surprised vertical integration seems barely touched.

Yes I’m reading the fucking PDF

Such is my tortured life 😀

Dutton looks like he is actually serious about doing something.

That wankers done enough already. The sooner GetUp! get’s him out, the better.

Bowen speaks like a weasel. In principle support but reluctant to commit to specific reforms.

You mean, after being given the report 5 minutes earlier?

Josh Frydenberg is a fucking moron.

He’s just the libs whipping boy, first Weatherill, now Haynes.

came off scott free of criticism

I think there was one who sent an email/letter(?) who’s wording wasn’t perfect. 😉

Labor, when in power, tried to do this the correct way, by legislating against crooked behaviour, as it was clear, even back then, that banks etal were out of control. But the libs had to come in and undo it all. And now sit back going “Labor, Labor, Labor”

They own this, and the punters will make them pay.

I feel dirty, but well said splats

I especially liked the bit about ” cry me a river about the loss of jobs” 😉

TB, I think the statement is trite and simplistic. Therefore I suppose it would appeal to many.

“February 5, 2019 6:12 pm
What did you think a broker did ?”

I agree with Shane

I don’t know what a broker gets these days but as an example a first home buyer now would let’s say need to to turn up with an extra $7k let’s say as a broker fee rather than just have that built into the repayments. Then if the house they bought they refinance after 5 years the trailing comm dies if it goes elsewhere then the broker loses unless he can do another good deal for them.

I really don’t like the RC recommendation and I rarely agree with Shane but otherwise the Bank just gets an implied trailing comm plus a higher rate as no competition except for amongst the 4

A used car salesman! That doesn’t surprise me!

I’m in two minds about mortgage broking. I can see the potential for ethical conflict. I can also see that many people need a service to consolidate the loan options.

First home buyers are unlikely to cough up another $7k for this.

I think business abounds with examples of rebates and commissions that aren’t transparent to the consumer

So it seems the LNP is reluctant to accept the recommendations on mortgage brokers yet the ALP wants to legislate everything immediately.

Seems next election Shane will be like a turkey voting for Thanksgiving

Most of which make it easier for the consumer to be screwed

Many of the arrangements operate like a buyer’s collective and may assist small businesses or individuals obtaining prices that would not otherwise be available for them

So it seems the LNP is reluctant to accept the recommendations on mortgage brokers yet the ALP wants to legislate everything immediately.

and

Bowen speaks like a weasel. In principle support but reluctant to commit to specific reforms.

If only there was some sort of ………………… middle ground lol

btw reb, who’s the leprechaun?

The exreme Uber Kapitalism we are now experiencing 

Yes, it is outrageous that people have to pay so much for a basic taxi.

why oh why do we pay taxes….??

I agree. What possible good is it? At mainly goes to public servants and welfare, and certainly there are few of either that deserve the money.

I’m trying to reduce the amount of tax I’m paying, but the downside is that I have to earn nothing.

There’s always a catch with taxes

Franking credits recognize tax paid by the company and are passed to shareholders so that the shareholder is not taxed again on the income which has already been taxed at the company level.

financial planner gobbledook

A pensioner pays no tax, yet gets a tax refund.

Cigarettes, Beer and petrol are taxed, and then I pay GST on them.

Now THAT’S Taxed Again ©

Yes it is a good outcome teebz ; but he will probably appeal and sentence reduced. The going rate for willfully, recklessly, negligently murdering workers or public by boardrooms is usually 80k per head. By the look of the NAME of the worker ; my bet is he was an underpaid islander too.

(yes, glad to see jumped up henry and friend have to boot selves out of nab boardroom too)

Apparently you can earn nothing and other taxpayers will help you build a real estate empire..

Or retiring with an investment portfolio. Taxpayers will then support your luxurious lifestyle

Which is kinda funny that #freedomboy is the one literally dying on a hill for this

I mean, I’d love an investment portfolio, but I’m already basically working for nothing, so, ………. not sure where the spare cash for ‘investment’ is 😦

It seems to me ; `investors` can configure and reConfigure their investments as they please. The govt giving `refunds` to NONtaxpayers is very Nanny State. Welfare for Wealthy is also very Nanny State.

Looks like splatter still swoons for the `Failed yank blue print` of corporatism. Despite the avalanche of evidence piling up that it fails most citizens, most of the time on most topics, global cooling included.

Arbitrary and asymmetric rules are bad policy.

You mean like arbitrarily and asymmetrically deciding that boomers can get tax free dollars without doing anything?

Dividend imputation was originally introduced in 1987 by treasurer Paul Keating to prevent double taxation – not to literally pay people finite taxpayer money for investing in shares.

The refundability of excess credits did not arrive until John Howard and Peter Costello decided to add some goodies for the Baby Boomers and older voters, many who receive the government pension while living in multimillion-dollar homes.

https://www.afr.com/news/economy/baby-boomers-cry-poor-but-labor-gets-it-right-on-dividend-tax-20180315-h0xhfy

Just az long az pronunzyation and spleling miss steaks doughent distract the soft ov mind.

I`ve never been in the Westish supremacy club or part of its swooners teebz. To me it looks like china is winning big time ; and smart enough to keep winning ; while our duopoly duds will keep us losing on all fronts, with no end in sight.

>>>>>>>>>>It’s important to point out that when someone whinges about losing $30,000 if the franking credits rort is wound back, they would need to have an investment portfolio of around $2 million.>>>>>>>>>>>

After years of reading comments by ALP supporters I have come to the conclusion u will agree with anything the ALP does. If Howard proposed what the ALP has done your comment would be completely different

(The bottom line is that expanding the definition doesn’t exclude communism as a form of socialism….Odd… those Nordic countries admired by TB and other left types are monarchies

Ah, so: fair, the ring-breaker who bears the crown; foul, the ring-taker who claims it their own.)

<<<<<<<<<<<>>>>>>>>>>>>>>

What u r supposed to say is that u r happy to pay more tax to support schools, hospitals and whatever way the ALP plans to waste the taxpayers money they get. All for the common good of course

I didn t say anything about democracy TB. Only that the Nordic countries that you and other often comment favourably about are monarchies.

Are you suggesting they’re socialist oriented, democratic monachies?

I think the meet the definition of mixed economy, as do most western economies.
————
Apparently I’ll be worse off as i have a reasonable share holding and won’t obtain the same benefit from the franked dividend.

TB. Provisional tax isn’t extra tax ir a new tax. It is hust a way of paying your tax and it is refunded if you’ve paid too much.

Do you see the difference between that and actually having the government extract more than anticipated?

If all I had to do was find enough for a tax installment , no problem. But a government reducing actual income for prople planning retirement is entirely different, and seems punitive.

But as I’ve said I’m not particularly upset about it, I’m still going to have my planned surf safaris

YesTB, and if you’d paid too much the government gave you a refund. Big deal.

This is taking money that I’d planned to use for retirement. Unlike you there will be no refund a few months later.

It’s bizarre TB that you are trying to equate tax paid in advance with the GUARANTEE IF A REFUND, if you pay too much, with a policy that is specifically intended to reduce incomes for people that have planned and financed retirement

There is a policy from the likely next government that is specifically intended to reduce the income of some people, particularly retirees.

Your reply is to say –
* you’ve had to pay tax that you’ll get back if you’ve paid too much
* the share market can fall

Really?

So the income I could reasonably expect is likely to be less.

If you want to rely on lazy, self entitled ‘investing’ paid for from taxpayer dollars, rather than using your smarts and investing wisely, like ‘libertarians’ tell we should

https://thekouk.com/item/669-my-statement-on-refundable-franking-credits-to-the-house-of-representative-economics-committee.html

There is a policy from the likely next government that is specifically intended to reduce the income of some people, particularly retirees.

RICH retirees. And, THIS grubmint has reduced the income of
• poor retirees
• “working Australians”
• Unemployed
• Pensioners

It is hust a way of paying your tax and it is refunded if you’ve paid too much.

FYI yomm, many of these don’t pay tax, so, how do they pay too much?

“From the point of the view of these non-taxpayers, dividend imputation became a negative income tax: instead of them paying the government money, the government paid them money.

As far as is known, it is an enhancement that has not been copied anywhere.

On one hand, it makes sense because it treats non-taxpayers the same as taxpayers by refunding them the same amount of company tax.

On the other hand, it does not make sense because it means that instead of being taxed once (at either the company or the personal level) as was the original intention, company profits can escape tax altogether.”

https://theconversation.com/words-that-matter-whats-a-franking-credit-whats-dividend-imputation-and-whats-retiree-tax-111423

You understand that no longer paying people who don’t pay tax would qualify as a “spending cut” don’t you nil?

Tom R’s points are more rational than-
* I paid provisional tax
* The share market can fall

So `Real FakeNews` is going to be your main game now teebz/reb (l`m telling russell brand) ; good luck with that ; the legacy outlets will still compete rigorously on that front! (-: (-:

___

l think you need to stop self identifying shane. l have no doubt on `your` ethics, they come come across loud and clear in your comments. l have no doubt `you` are ethical in both biz `and` life. However, l do not believe `all` your industry does, particularly in the big-2 ; jonestown and boltsvillage as both towns are loaded with greedy, corrupt, stupid types. We have long term, `inHouse` working examples.

Who owns the company if the owners/shareholders don’t?

I think Shane makes the point very effectively

Particularly in a regional town, people will simply default to whoever has a branch.

Seeing brokers as the representatve of financial institutions that aren’t as accessible is a different and interesting context

Here is Kevin Rudd lying badly. Everybody knows Rudd/Conroy put NBNCo off-budget to run like a business and make a profit. So it cannot be funded like schools, hospitals. But I suspect NBNCo will have to be put into the budget, the debt written off and added to our national debt

https://www.afr.com/opinion/letters-to-the-editor/letters-kevin-rudd-on-nbn-nab-crisis-and-franking-credit-debate-20190207-h1az7m

>>>>>>>>>>>It was never envisaged that the NBN generate a commercial rate of return. That has never been the case with fundamental economic infrastructure. If it were, the railway and road networks would never have been built. Such ideological claptrap fails to understand the fundamental economic drivers that basic infrastructure provides for the rest of the economy.
The bottom line is our proposal for an FTTP NBN would have been completed by 2018 had not the Abbott-Turnbull-Morrison government agreed, consistent with Rupert Murdoch’s position, to kill the network and instead substitute an inferior FTTN. <<<<<<<<<<<<<

TB

Labor put NBNCo off-budget so it cannot be funded like roads, hospitals. I guess they are borrowing most of the money from banks to get the NBN up and running plus some grants from the govt.

TB

AS usual u r wrong. NBNCo is not in the budget so the govt cannot fund it. That was done by Rudd/Conroy/ALP. That is why the statement by Rudd is a lie. he would know what he did in 2009. Labor set it up to make a profit then when finished were going to sell it

Like all ALP supporters your facts are wrong. Most probably on purpose

Should I answer that?

Yes. There are hundreds of small towns, many long distances from a regional centre.

Your notion that they set up there to provide a service, and success will follow, is just nonsense.

Do you have any idea of the cost of operating a service?

Your point certainly isn’t Retail 101. Maybe Year 9.

No TB, lately you’ve posted deliberate provocation. So don’t bother to get upset when people get provoked.

You suggested that banks open in small towns. And my questionbabout your knowledge of the costs involved is entirely reasonable.

I didn’t even ask you how muck revenue they would have to generate to cover costs.

So in this context my view is that it makes sense that they eoukd use agents, representatives or brokers.

I have no reason to disbelieve Shane’s comments about the transparency of how fees are paid.

Richard Di Natale has been forced to apologise to Kevin Rudd, after the Greens leader called the former prime minister a “sociopath” on live television.

The Greens are political grubs just like the other parties.

https://www.theage.com.au/politics/federal/richard-di-natale-apologises-to-kevin-rudd-over-q-and-a-sociopath-slur-20190211-p50wx7.html

Just listening to a mortgage broker talking about the RC on the radio. he says the recommendations will mean he will lose 2/3’s of him income and be forced out of business

NBN Co’s prized status as a public non-financial corporation is not under review despite warnings it may never be profitable, ensuring it will remain off the federal budget.
The network builder was granted public non-financial corporation (PNFC) status by the Australian Bureau of Statistics (ABS) in 2009.

“As a result [NBN Co] is considered to act independently of government for budget accounting purposes,” the ABS told the Department of Finance at the time.
“Funding may be provided to NBN Co as equity injections (in exchange for shares) which do not have a budget impact.
“If NBN Co loses its PNFC status, any funding provided to NBN Co for building the NBN will have a negative budget impact.

I’d always understood that the government (ALP or Lib) would sell the NBN.

Was it ever intended to remain in public ownership[ permanently

In a rising property market shane, specifically the runaway rising property markets of jonestown and boltsvillage, the big-2; a borrower could borrow nearly 100% of an 800k home, and have a personal loan. They could hold the home for say 6-months, then sell for 900k-ish, and clear both home loan and personal loan, leaving them with a five figure profit in their pocket. As these loans are now finalized, cleared and closed; we will never, ever hear if banks, brokers, borrowers or anybody else `fudged` the numbers. How much income does a borrower need to borrow and successfully repay an 800k loan??? Don`t personalize shane. You are not in the big-2.

Even I don’t fly Jetstar! 

They don’t serve Bowlers Run.

Even I don’t fly Jetstar! 

Don’t they serve Bowlers Run fruity lexia?

Teabag

You can do nothing except personalise when it is your OWN business that is under attack with lies and inuendo and no facts or evidence whatsoever.

Even your own comments are hearsay and what ifs, not any facts.

The Funder determines credit lending criteria Not The Broker. The Funder Makes the Decision to Lend or Not. The Funder Determines what they require and the conditions for lending Not The Broker.

Cartoonists do it best

Yes! TB has a lot to answer for!! A poem of apology would be nice!

The ” Funder determines credit lending criteria ”

I can`t argue the toss what goes on in bananaland shane. ln boltsvillage and jonestown ; homeloans are mandated to 20-years. Lenders are also mandated to not allow borrowers to exceed 1/3rd (ballpark) of their income to total loan/s repayments.

So using these rules ; a borrower wants $725,000 for homeloan and has no other debt. The capital alone repayment is 3k per month. 3k=(725000/240) and the 240 a month repayments is 240=(20yearsX12) .. So as the repayment per month is 3k the borrower should have income of 9k per month. This was on a dot vic.gov.au or dot nsw.gov.au site years ago. The site also included the equations or formula for several mandated calculations regarding calculating interest, repayment size, and how interest is applied. l no longer have the link, but if you do please drop it. (ballpark numbers done in head)

reb

Yes the Look Over There worked very well didn’t it.
What amazed me is worst bank in front of the RC the CBA, was listened to in relation to advice on how to change the industry. Is there some type of family connection there?
The amazing thing is that ASIC is now going to be 100% funded from the Industry it monitors, talk about conflict of interest.
There is so much more control over brokers than there ever was when I was in the bank.
There was far more vertigal integration, sales pressure, bonuses used underhandedly, gouging of customers, pressure for customers the bank did not want to move to another institution, etc etc in the bank than anything like that for brokers. And the one who started the toxic culture change in the industry is now at AMP.

TomR

Yes the Industry Funds are being used as scapegoats as well.

Do I vote for a party that I do not like except for the policy of treading very gently with mortgage brokers to not destroy an industry ?

Or do I vote for a party that I support in almost all areas except for the area that will destroy my own business ?

Or do I vote One Nation because Pauline actually told the truth that Mortgage Brokers are the scapegoats of this RC.

<with thanks to Late Riser on PB https://www.pollbludger.net/2019/02/13/essential-research-55-45-labor-4/comment-page-14/#comment-3073312 )

Morrison is attempting to poison the well or set fire to Rome. Take your metaphorical pick.

FDOTM sees it. See Panel 5
https://www.theguardian.com/commentisfree/2019/feb/13/is-the-government-embattled-is-this-a-massive-victory-for-the-opposition-what-does-it-mean

PM (frowning): “Quick give me the megaphone. Which way is Indonesia?”
Person: “I think it’s that way Prime Minister”
PM (with megaphone): “I said OUR BORDERS ARE MUCH WEAKER NOW…”

What verification of your borrowers do you perform shane? Do you check they also don`t have 3-credit cards ; maxxed out at 1500 each card? Did you check for car loan and personal/ holiday loan? What l have noticed is `all` systems have been re-jigged to basically create huge `duty-of-care` GAPS. For example; being a bit nerdy ; l found it is extremely hard to find the the dot GOV.au page for the actual equations/ formulas for principle and interest ; the honeymoon and balloon repayments ; and the actual rules on how homeloan should be created. However ; the internet is awash in on-site `calculators` to aid and abet borrowers LYING to banks and others.

I think Shane provides informed and passionate opinion about a subject that he is clearly more familiar with than anyone else on this blog.

It’s very entertaining when bitter losers scream at the keyboard and learn to spell

senator cash for comment is giving evidence. It’s not going well I think

Apparently cash’s memory is failing lol

Teabag

What mortgage broker appeared before the RC ?

A loan through a SMSF is separate from any borrowings for an individual just as any super held is separate from any individuals assets.

Interest only loans serve a purpose and if you have an interest only period of 5 years then you must be able to service the loan over 25 and not 30 years. If you have a period of 10 years then you must be able to service the loan over 20 years.

Please tell me how I can personally check to make sure a person does not have 3 credit cards maxed out or any other liability for that matter other than to ask what liabilities a person has to their face?

You can ask for a list of transactions on their bank account but what if they have other bank accounts they do not tell you about?

FFS Please tell me how duty of care is being avoided?

If you cannot work out how a principal and interest loan is calculated then I feel sorry for you.

Honeymoon and balloon repayments are always advised in the contract and application.

Balloon repayments are not featured in home loans but rather equipment finance loans to lower the repayments for a business especially in the start up phase to retain earnings to grow the business in the hope it will be far more profitable when the balloon becomes payable. In addition the ATO has rules relating to how much a balloon or residual must be to allow the whole repayment to be tax deductible under a lease. there are so many reasons for these type of payments.

How on earth you think clients are aided and abetted to lie amazes me.

You visit a client you complete their ID under AML legislation. You complete a Needs Analysis comprising 15 pages of questions in relation to everything about them. You ask for as much evidence as you can gather. You go away and verify what you can. You make an assessment and recommendation on the clients information provided.

A client can lie to anyone about anything, how the hell you think I can prove any lie is beyond me.

TB

No of course I don’t think he would have lied about his age. The Bank would have his ID which would show his age. It is ILLEGAL to discriminate for finance based on age. It is AGAINST THE LAW to discriminate for finance based on age. If a client is 85 and can prove servicing of the loan it is ILLEGAL to refuse the loans on the ground of age.

Commercial lending is NOT governed by the NCCP legislation and is assessed completely differently to a loan for residential property.

I also find that clients only tell friends half of a story. I have clients whose friends tell them they got finance for a certain amount only to then call me and ask and when I look into my clients situation they cannot afford to do what their friends have done. They ask me why their friend can get the loan and they can’t and I have to explain that every persons situation is different. Unless you are there at the actual interview you do not know what was said or discussed.

You are even guessing that your neighbour did not use a broker. So unless you have all the facts from the interview and application you are only guessing about everything. Most people only like to tell friends and family part of the story as they tend to keep quiet about their true and full financial position at the time.

But they are more than happy to blame someone else when something goes wrong.

I would like to know why a quite mature person should not have the opportunity to own a home.

It seems to me that there is a strong focus on age as a criteria for ability to service a loan. Why should a 70 year old be condemned to renting for the rest of their life?

There is a clear focus in some comments on age rather than financial circumstances.

I see no reason to discriminate on the basis of age.

The comment was a result of you causing me to think about the issue rather than being directed to you TB. But I see plenty of commentary in the media about banks lending to mature people/elderly

Mature/elderly people may not wish to spend their lives in rental accommodation. Life expectancy means that plenty will inherit money when they’re mid 70s to 80s.

They may factor that into their personal finances, but rhe banks can’t. Or they may have a plan to get some equity in real estate , and move inro snaller or retirement accommodation at some point.

TB

When I talk about my industry I am talking about mortgage brokers, not the banks, we are not the same.

Credit Cards are decisioned by a computer programme not a person and so are many home loans, and they contain many algorithms when making a decision, for example you lived at your previous address for 11 years then moved to a new address and have lived there for 3 months, the algorithm goes against you because you have not been in your current address for 2 years or more. This was a system imported from the USA which I disagree with.

Whether you personally would lend to someone who has a short term life expectancy is irrelevant, it is against the law !!!! and I would find a law suit against me and would have to go to court to explain why I did not process the application.

So tell me what I would say to the court in those circumstances?

Talking about short life expectancy, if someone has a terminal disease and was expected to die in 5 years you would deny them their own home because of that, even though the lender has security which would clear the loan in full in event of their death. For heavens sake people die or get diagnosed with a terminal illness daily and you think the bank should then sell them up because they wont be on the planet in 5 years time ?

You are correct that your original provider must continue to provide your credit card, that is because a provider cannot simply withdraw a product once it has been granted and funded, unless you break the terms of the original agreement, for example you stop making payments. Otherwise farmers would be sold up as soon as a drought happens or someone would have their credit card cancelled as soon as they lose their job. This happens in the USA but not here under the NCCP.

Banks do not forget that your income is tax free, however most benefits from the Government are deemed to be for subsistence living and not designed to also permit borrowings on top of living expenses. Very few are acceptable income for a loan anymore.

If a 70 year old has a $1,000,000 home with no debt but needs renovations to their home to provide a quality of life, and to remain in their own home eg rails on walls, electric chairs, bathroom alterations, you would rather not lend them the money because of their age but rather force them into a nursing home. Even though the loan amount might be $30,000 and the funder has a $1,000,000 home to sell in event of death.

TB

Assets are irrelevant, the ability to service the debt is the first hurdle for any application, for any product, for any amount. If a person has $10,000,000 in assets and no income then the answer is simply NO. If the person has income then a servicing exercise is completed to see if the new loan can be serviced along with all of their existing commitments. If it cannot be serviced then the answer is still NO. I have pointed out before how much extra money is taken out during the servicing exercise.

If the debt can be serviced then the next step is what security, not assets, is offered to the lender and what it is worth from a licensed valuer. If the security is acceptable, the loan application can then proceed.

There are many very wealthy old people that have borrowings. But only if the borrowing can be serviced.

Under your rules Rupert Murdoch would not get a loan because he is too old. Try telling that to his financial advisers. Neither would Donald Trump. Either of them don’t morally deserve loans but that is a different argument.

Assets simply show a persons overall wealth position and what they have done with their income over the years in comparison to their liability position at the time of application.

You still haven’t advised me what to tell the court when I am dragged before them for refusing a loan application that services based on a persons age !!!

On ethics, this February 11, 2019 2:04 pm stills stands shane. l reckon you`re taking a huge leap of faith believing the rest of your industry is `scumbagFree` tho. There is also little point in relying on royal-comm `lite` that your industry is `clean` when only a couple of dozen victims (of-10,000`s) were heard from. (for all we know ; the first 2000 victims were the the banks fault ; the next 6000 victims were brokers fault) But we just don`t know at this stage.

I have worked in construction and manufacturing. l know damn well there is corruption of various types, usually portrayed by boardrooms and management. To me its self evident in `Results` there is/has been corruption, even tho l was not a fly on the wall. Some of those self evident `results` are; OpalTower (plus another half dozen in jonestown and `some` in boltsvillage) GenfellCladding (3500 in jonestown, 3500 in boltsvillage and 3000 more scattered around the nation) Outsauced (abdicated for profit) building inspectors. Guess where?

In manufacturing the the greatest con was against shareholders. They casualized and fcuked over their workforce to `steal-back` the workers holiday pay ; resulting in many multiples of that `steal-back` as waste, 10K of steel sheet in one place, 7-trucks (14-pallets) of timber at another. Yep, both biz smoked long ago.

OK, I need to try and get this straight. Currently, the grubmint

• Ministers will not answer questions from the AFP
• Evidence from that investigation has been destroyed
• A minister got a free holiday from a company run by a Liberal member who just got a contract
• Paladin got a contract with no tender and with no capacity to do the job
• Paladin has an employee with the last name Dutton
• Barny and his mates have killed a river system
• The Banking Royal commission is exposed as a toothless tiger, and nothing will change
• We have no Energy policy, and prices continue to rise as the fiddle is played.
• A policy of the grubmint is most probably driving people to suicide

But the grubmint are celebrating because they think that by not allowing sick people medical treatment, they will win the next election

Dorothy …………….. go the fuck home

We could dive a long way splats, and on both sides of politics

A fed ICAC is essential now imo

“Screwing the taxpayer via expensive and unnecessary government contracts is an art form.”

Mmmmmmm……………..no need for an artistic touch in my case. Just a few trips to Canberra overnight and a lot of long lunches and dinners with great splashes of expensive wine.

Then voila !

A few days later you’ll find an email in your inbox and an invite to a meeting LOL

Where do you think I have been this last week or so ?

Where do you think I have been this last week or so ?

MAFS?

Greenland’s ice sheet is not only melting, but it’s melting faster than ever because the area has become more sensitive to natural climate fluctuations, particularly an atmospheric cycle, a group of scientists reported today (Jan. 21) in the journal Proceedings of the National Academy of Sciences.

The researchers found that the ice is vanishing four times faster than it was in 2003 ; and a good chunk of that acceleration is happening in southwest Greenland.

This area was previously not considered at as much risk of melting because it doesn’t host large glaciers like the southeast and northwest regions do. While glaciers are smaller rivers of ice that creep across the landscape and can break apart and melt from warm ocean water, the actual gigantic ice sheet was thought to be more resistant to that kind of melt.

But since the southwest part of the ice sheet is devoid of glaciers, the melting must be happening via another mechanism: A warmer atmosphere would melt the ice more inland, and the resulting water would run off into the ocean.

“In terms of rate of transfer of ice to oceans, both mechanisms are important,” said lead author Michael Bevis, a geophysicist at The Ohio State University. But the fact that the ice is melting faster and faster, even inland, and running out as a river of water, “that’s a surprise,” he added.

https://www.livescience.com/64546-greenland-ice-sheet-melting-faster.html

@the science has always been too timid, l still reckon we will be measuring sea rise in feet by 2035, as greenland crumbles spasmodically, in fits and starts, releasing pockets of slush, or dirty great chunks of ice tumbling off it. @GlugGlugGlug

>>>>>>LOL! Two things here … thanks to Gough Whitlam (RIP) <<<<<<<

Gough was an economic disaster

2035 ” I`ll be dead and crisply burnt ” @Nah thats a crap choice. Stick around. You will be missing out on the teabag panic gushing down legs as fast as the ocean rolls in. The angry mob. The fleeing for their lives. The show will be spectacular. Beyond that, l`m going into `aftermath` tourism where guests will enjoy scuba diving and spearfishing lobster in the metro and building and carpark basements. Gathering oysters grown on long ago drowned wireCo nodes of the information super highway. Non scuba guests will be taken on kayak fishing and photo tours between the mounds that were once opal tower type constructions and remaining buildings with cladding burnt to the waterline. The top seller of course will be the hunting zombie at night with crossbow for the full omega man experience.

LOL………..this is a rather Inconvenient Truth

“Queensland coal union reveal the leadership increasingly anxious about the state government’s plans to make a “just transition” away from coal-fired power.

The minutes, which carry a passionate defence of coal generation and of the “proud men and women” who work across the state’s mining and power sectors, reveal the growing political faultlines released by the energy sector’s unnecessarily chaotic but gathering response to climate change.

The coal union’s powerful Queensland branch insists that state would do better to invest in emissions management than to continue to steer away from coal generation.”

https://www.afr.com/business/no-green-energy-jobs-for-us-says-coal-union-20190217-h1bd4v

passionate ” defence of coal generation ” @which is totally pointless @and your LOLs only prove your total ignorance of both coalburner builds and ignorance of where renew and battery tech is.

I believe coal is now our biggest export overtaking iron ore. The day the ALP bans coal exports is the day I will believe Labor takes climate change seriously

https://www.smh.com.au/business/the-economy/coal-is-australia-s-most-valuable-export-in-2018-20181220-p50nd4.html

Coal will replace iron ore as Australia’s most valuable export this financial year as supply concerns lead to a steep price rise for the core commodity.
The Department of Industry, Innovation and Science’s latest Resources and Energy Quarterly report said thermal and coking coal export values would reach $67 billion in total in 2018-19, slightly higher than iron ore’s $61 billion in value.

https://mobile.abc.net.au/news/2019-02-21/young-labor-staffer-resigns-after-bullying-former-member/10831082

Young Labor is nice…

we can just bully the f*** out of her 

What`s your point dummy, you don`t know because you don`t have one. You`re also too fcuking daft to understand blubbers point, or my reply, so you post nonsense.

_____

Elsewhere in its operations, Amazon is also using solar power ; for example, its fulfillment center in Tracy, California has 11,700 solar panels. Another major rooftop solar installation is at its Patterson fulfillment center. The company says it has a goal of installing solar power systems on 50 fulfillment facility rooftops worldwide by 2020.

https://www.solarquotes.com.au/blog/amazon-carbon-reduction-mb0945/

it ” can carry anywhere from 550 to more than 800 passengers on two full decks ”

http://theconversation.com/airbus-a380-from-high-tech-marvel-to-commercial-flop-112086

@l always thought it would probably get smoked after a full capacity crash many years away, a bit like concorde, not like this, which is just accounting

Whoops he said this

“And by the way dummy coke is used in foundrys.”

What is his point?

I did not mention coke. The man who has trouble with English mentioned coke. he said this

“And by the way dummy coke is used in foundrys.”

What do u think he is trying to say?

What is his point?

Neil, I think even you have more sense than trying to figure that out.

All your comments on coal is pointless dummy. My original reply was to blubbers wetting himself over coal, which was also pointless, as his glorified black dirt investments won`t make a cracker off the 150 coalburners being built by china across the world. They are plopped beside existing local coal quarries. l never said anything about co2 and don`t care, as there is nothing Aust can do about it now, Opportunity Gone. l also don`t give a flying fcuk how much foundry coke OR generation coal is flogged off, or to where.

Teebz, l follow plod feeds and a particular semi regular round up tassie plod do is a thing called `dessing-for-dollars`. This is busting citizens that act as `designated-drivers` for cash (taxi). On the west coast they outlawed uber ; folks may be still using it blackmarket style ; but in an accident ; owners insurance is void ; passengers ride at own risk. By `allowing` scooters ; bikes ; uber ; or whatever to operate ; the city/state automatically accept certain liability too. Who do you think paid the tab for hauling the pushbikes out of rivers once the profit churners called it quits?

Another one bites the dust. The rats seem to be leaving their titanic.

https://mobile.abc.net.au/news/2019-02-21/julie-bishop-to-retire/10834480

Former foreign minister Julie Bishop has announced she will retire from federal politics, in a surprise statement after Question Time.

A commercial (trade) war looms for Oz

And things were going so swimmingly

Don’t they “owe us” or some such?

btw, piss off asbestos queen, don’t let ya sexist mates slag ya on the way out. (or do, I care not)

Now for the REAL news.

Is it just me, or are the wheels falling of this ‘trickle down’ shit pretty rapidly

Analysts warn that Australian retailers are going bust in record numbers. Seems the Australian Retailers Association has finally joined the dots and leapt on rising household costs and low wage growth as the culprit. This is a sizable shift from crying out for corporate tax cuts. Alan Austin reports.

https://www.michaelwest.com.au/after-australias-worst-two-years-on-record-do-retailers-see-the-problem/

I don’t want to say ‘recession’, but, we’d be pretty close.

https://au.finance.yahoo.com/news/australia-fallen-recession-200014477.html?soc_src=social-sh&soc_trk=tw

#robodebt alone should bring down this mob

The claims date back to 2010 and Centrelink demands the repayment of what it alleges to be overpayments caused by the understatement of income; but it knows very well that it is unable to prove these claims.

It then proceeds to claim the difference between the fortnightly income declared by the payee and the apportioned actual income as an understatement by the recipient which it then claims as a debt.

https://www.perthnow.com.au/opinion/robodebts-sham-is-a-stain-on-centrelinks-reputation-ng-d183f0f3ee9d004c5798f1bb50db026a?utm_campaign=share-icons&utm_source=twitter&utm_medium=social&tid=1550787007907

One of the anita cobby killers died of liver cancer today. l hope it was long and painful and the gulag guards and quacks were `miserly` with the painkillers.

Thats two monkees down, davy died in florida a few years ago. l would never have recognised the old geezer shown on telly as a monkee.

(fun fact ; one of the monkees mothers was the inventor of `liquid-paper`, she was a secretary/typist ; great to see a pleb get ahead) (which monkee? l forget)

Such a lovely bunch of blokes the CFMEU

I don’t disagree he sounds like a dick

But, one isn’t a bunch (just saying)

TB, given the Libs-
* got rid of a popular leader
* are threadbare with policies
* are deeply divided
… being as close as 47/53 seems a pretty ordinary result for the ALP

Joobish`s seat of curtin has always been teabag, GOSSIP is joobish may have jumped before smoked, as curtin voters were ready to dump the teabags. Don`t know yet for who indy? or team?

Warringah ; outside of catastrophic level of stupidity ; zali looks set to smoke mrRabbit ; since my soft first prediction ; phelps has posted zali can win for reasons l was thinking ; phelps also supporting zali ; my prediction has hardened and zali will romp home ; phelps too.

Anybody seeing any strong indy`s beyond oakshot, curtin, phelps and zali? l reckon if we get six to eight more indy`s snagging seats off the duopoly the show is going to be hilarious.

Keyword offGrid ; multi battery ; the system you are talking about is still ongrid, loaded with electronic crap

Cost is in batteryS and industrial NONelectronic controllers

52/48… with Morrison as PM!!

I’m amazed that the Libs are going that well. In the circumstances, the ALP would have to be concerned with that result.

Should I feel sorry for this guy? Westpac gave him a $165K home loan at the age of 56 then he lost his job and then the home. He said Westpac should not have given him the loan at his age

https://www.news.com.au/finance/business/banking/westpac-cleaned-me-out-builder-spends-six-years-in-the-bush-after-165000-mortgage-wipeout/news-story/cb22681e7b60802c37863010b0d5d7f5

Number one is wrong. Some unemployed people may have Telstra shares. They will lose their franking credits under Labors policy.

And what will labor do with the extra money? Well they will waste it on some crazy govt program