Australian Share Market in Armageddon wipe out!

Wait until the interest rates start marching north, then you’ll see everything go all jurassic park.`

Both a sell-off and a buy-up . Never happened before.

If only Josh hadn’t been aced.

The 10 highest minimum wages-
Australia – $30,243 ($14.54/hour)
Luxembourg – $28,433 ($13.67/hour)
New Zealand – $27,414 ($13.18/hour)
Monaco – $24,710 ($11.88/hour)
Ireland – $24-,003 ($11.54/hour)
France – $23,837 ($11.46/hour)
United Kingdom – $23,649 ($11.37/hour)
Netherlands – $23,316 ($11.21/hour)
Belgium – $23,004 ($11.06/hour)
Germany – $22,214 ($10.68/hour)

So:

As the Treasury Secretary, Steven Kennedy, made clear last week the future Budget outlook is exceptionally difficult. He noted the “pressures to raise more revenue over time” and saw no scope to lower taxes in future.

Seems Kennedy also has a clear ideological position in that he’s seeking to lower taxes.

Sorry but that’s not his role. He’s there to advise government on how to fund a particular set of policy proposals. He’s not there to preach – low taxes (and low services) good and (implied) high taxes are bad.

No wonder he was appointed by Morrison and retained by Albo.

It’s worth noting also that it’s not only the minimum wage being increased:

GOOD!

And, so good 🙂

it was right after the demise of the last Liberal cabinet that we re-emerged, and that’s because we noticed there was a gap in the market for grotesque clowns. They’re out; we’re in.

We actually tried to get Angus Taylor – we offered him the job of playing triangle – but it was a little bit intellectual for him.

https://www.theguardian.com/music/2022/jun/15/tism-make-long-awaited-return-after-the-election-theres-a-gap-in-the-market-for-grotesque-clowns

oh, they already have!

I mean, there is reason to, even you would have to agree

One leads to the other

Except, wages have stagnated for the past decade, yet inflation/cost of living is out of control. Please explain?

Are you sure, or you just making shit up?

Yes, especially when you consider the Distribution of earnings

And Thailand subsidies it auto industry. Massively

I also think the guy was talking shit

Talking shit, you say

Yes, because, ignoring the subsidy issue, he is comparing the Thai hourly wage with what something thinks the companies budget for labour for an hour, which is generally twice the wage

Which means they have kept pace with inflation up until now, and barely. And, we are supposed to improving living standards, not barely maintaining them

Clearly the journalist is not up to the task:

“Energy users also need confidence that all market participants are working to the common good.”

What’s with this common good nonsense? Since when is capitalism about the ‘other’ as conceptually distinct from the ‘individual’.

Hasn’t he read Rand’s classic – The Virtue of Selfishness ?

(… a concern with one’s own interests is a character trait that, when translated into action, enables one to achieve and guard one’s own well-being, it follows that selfishness is a virtue.
One must manifest a serious concern for one’s own interests if one is to lead a healthy, purposeful, fulfilling life. )

https://www.smh.com.au/politics/federal/energy-market-is-a-crash-everyone-saw-coming-but-did-nothing-to-stop-20220615-p5au00.html

They weren’t wrong

Improved living standards for all are just around the corner!

Going on Labors history, you are in fact correct splats 😉

Australian mining magnate Gina Rinehart, Seven West Media chairman Kerry Stokes, Andrew Forrest, South Australian Premier Peter Malinauskas as well as journalists from ABC News, Sydney Morning Herald, Nine and Sky News – all banned from visiting Russia BUT no mention re reb of Melbourne.

What’s going on?

BUT no mention re reb of Melbourne.

So, reb IS a COMMIE!

reb who!!!

Sorry, red of Melniboné 😉

TB – needs based (funding) was designed to be about funding for the educational needs of children/students but has since evolved to be about (funding) the political needs of parents. And that applies to both sides of politics.

Under Section 51 of the Constitution, education remains a State responsibility. However, under Section 96 the Commonwealth Parliament may grant financial assistance to any State on such terms and conditions as the Parliament thinks fit.

In an attempt to win/buy votes, both sides of politics see fit to provide enormous (and disproportionate) financial assistance to Private Schools.

And it’s not likely to change in the foreseeable future. Gonski gave Labor a chance to right the many (funding) wrongs but Labor blew it.

In an attempt to win/buy votes, both sides of politics see fit to provide enormous (and disproportionate) financial assistance to Private Schools.

Whether private schools should get any govt money is a separate topic. Some people may say if you want private school education for your children, do it at your own expense.

But the fact is private schools saves the govt money. Private schools do NOT get enormous financial assistance from the govt. They get less/student than public schools. The difference is made up by student fees paid by the parents. As you stated some parents are paying $40,000 pa for their kids private education.

If every private school child left private schools and joined the public system the govt would have to come up with a lot more money

Did you know that JobKeeper was a gravy train for many Queensland private schools and private Universities. New financial statements published by the Charities Commission before Christmas show that 27 schools raked in $90 million in JobKeeper payments in 2020 contributing to profits of $100 million.

Did you know that The King’s School in Parramatta (referred to above) claimed more than $8 million? That’s on top of fees for day students of $40 000? (It’s Angus Taylor’s old school.)

And you know that schooling is compulsory so how many job losses were anticipated? How much of this profit was paid back? Is this an example of the “Christian education” provided? How many public schools received ‘JobKeeper’?

How many public Universities received ‘JobKeeper’? How many private Universities received ‘JobKeeper’?

TB

Fact is government schools get more govt money than private schools.

If you think that private schools should get zero govt money. Fine.

It just means all the kids in private schools will transfer to govt schools and now the govt will have to come up with even more money to fund all these extra children.

TB

Your link does no show how much funding govt schools get/student compared to private schools. All your link says is that govt funding for private schools has increased more than for govt schools.

Fact is govt schools get more money/student than for private schools. I think govt schools get double the amount/student compared to private schools.

Anyway that is what i will believe until proven otherwise.

Now if you want to say private schools should get zero money. Fine.

And Cate Campbell handles the (no easy answers) issue rather well

https://www.abc.net.au/news/2022-06-20/cate-campbell-speaks-to-fina-ahead-of-transgender-athlete-call/101166396

Greg Barns has something to say:

If the US is successful in prosecuting an Australian journalist and publisher for letting the world know the dirty secrets of the US military machine then this will have a chilling effect on press freedom. And it will embolden other nations to follow suit.

If the US can seek the arrest of a journalist who is not a citizen of that country and who has not set foot in the US, then how can it, and nations such as Australia, criticise China for enacting a law last year which allows for critics of that regime to be hunted down irrespective of where they are in the world

Hopefully, Albo will persuade Biden to let the matter rest.

https://johnmenadue.com/julian-assange-albanese-government-enough-is-enough/

Perhaps if the first paragraph (of the linked article) is repeated it might help.

The particular philosophy of history that reduces seminal events to the conscious activities of individuals was all the fashion in eighteenth century historiography. But everything old is new again when it comes to allocating blame.

History is made by notable individuals, is what Washington thinks, and its satellites fall in line with this conceptual structure. Reporting on the war in Ukraine parallels Nietzsche’s superman thesis

.

The world (of insights) moves on. Only some try to keep up.

Yep! I do! Now do piss off …

You should ask why so many parents are sending their kids to private schools at great cost?

Govt schools are training kids in leftism, socialism, climate change, Marxism i have been told. Plus the discipline has gone. I had a relative whose son was bashed up in the playground and the teachers did nothing about it. So they removed him from the school and sent him to the closest Christian school

Re:

… best if Russia just strolled into Ukraine …

Early days. Indeed, methinks, it’s very, very early days with no end date in sight. But already there’s many who think the human cost is unacceptable. As they should. So much blood spilt that could’ve been avoided. So much unnecessary human misery that will be ongoing.

Nevertheless, there are those who are overjoyed, particularly after the profits generated by the conflicts in Iraq and Afghanistan ended. Now there’s new frontiers for gain with $5.6 billion already provided by the US since this outbreak.

https://www.cnbc.com/2022/06/17/russia-ukraine-war-summary-of-weapons-us-has-given-to-ukraine.html

And no-one knows where this will end. So many possibilities. So few probabilities. From the original link:

Taking a long view, Putin would be justified in believing the cards will fall for Russia. The united front against him will weaken over time. Western economies are feeling the pain as gas and oil prices along with inflation soar. In time, there will be a retreat from economic war. Furthermore, countries will be found to circumvent the sanctions. Russia will launch an import replacement program to produce components and spare parts critical for the war machine ..

The spectre that must haunt the US power elite is what happens if Putin’s Eurasian common market embraces China. … Domination of Eurasia by China and Russia would rewire inter-imperial relations. China is already set to displace the US as the world’s most powerful economy, and its military spending will match the US in the late 2040s.

These conflicts are likely to outlive the personalities involved, so any ‘victory’ or any ‘loss’ will be but a footnote on the historical record. So sad!

Russia will launch an import replacement program to produce components and spare parts critical for the war machine ..
Good luck with going it on your own in avionic manufacturing, motor vehicles and heavy duty transportation with an economy the same size as Australia’s.

Why do people send their kids to private schools is a good question. The answer is complex.

First, the overt curriculum (what’s taught – the ‘content’ – Maths, Physics, English, Chemistry, Economics etc etc) is common to both systems. In Australia, we have a national (common) curriculum. This ‘common’ curriculum allows for a ‘common’ testing regime. Thus, same ‘exams’ at the same time with the same ‘credential’ at the end of the process.

So it’s not the overt curriculum that differentiates – nor is it the ‘credential’ – because they are exactly the same.

Second, look at who ‘delivers’ the curriculum – the teachers. While there are different institutions in the business of educating teachers, all teachers (generally speaking) go through the same process and therefore get the same credential. They go through the same professional socialisation process. Further, they are all ‘registered’ by a State funded and approval authority.

So why do many parents choose one institution over another? Why choose ‘private’ over ‘public’ or vice versa. (Should point out that the hardest school to ‘get in to’ re highest entrance requirements is James Ruse. A State school that has topped the nation for the last 20 years or so.)

Fact is, many (if not most) parents believe that if you pay (directly) for something it must be better. Thus there’s ‘guilt feelings’ if you don’t do your best for your child. And it works a treat. Like in the wider society, there’s the belief that ‘private’ is ALWAYS better than ‘public’ – regardless of it being a nonsense. Look above to see why.

(As an aside, my eldest grandchild who has only attended a State school ‘topped the State’ the year before last and is now at University on a $60 000.00 5year scholarship – saving me a relative fortune. Lol.)

Why do people send their kids to private schools is a good question. The answer is complex.

I suspect i is the lack of discipline in State/government schools. That is why my relative took his son out of the government system and sent him to a Christian school even though it cost a lot more.

MN

My relatives son was bashed up in the playground. The teachers did nothing even though the bashing was reported.

So my relative removed his son from the government system.

I suspect a lack of discipline in govt schools is why parents are moving their kids to private schools.

But what if the child is bullied in a private school? Can you get a refund of fees paid?

the parents of a school student refused to pay nearly $43,000 in school fees after claiming a prestigious school failed to protect their son from repeated bullying by his peers.

Believe it or not, the teachers ‘did nothing’. And it cost $43 000.00

It was alleged that during this time their son was bullied by his peers including ridiculing and name calling in front of College staff, who took no action to intervene

So the school took action to recover the money owed, (Only private schools could do that because only private schools would be in that position.)

withdrew their son from the College, but refused to pay outstanding school fees. The College brought bankruptcy proceedings against the family, seeking the amount of the unpaid school fees.

Enough of this nonsense!

Re:

be in business class, not first.

So being a paid shrill for Joyce ain’t what it used to be? Then again QANTAS has been in decline since Menadue left.

Not wanting to labor the point but:

Can Qantas trash its reputation any faster than it has been in recent months? Having spent most of the pandemic clamouring to be allowed to begin operating again, Alan Joyce’s airline returned to the skies unable to provide the most basic services consistently — on-time flights (or simply flights that aren’t cancelled), efficient processing of passengers, peak-demand management, customer service, baggage arriving at the same destination (or not disappearing into some void from which nothing ever returns).

Throughout this period, Joyce and his team have blamed everyone else. First it was passengers who were not “match fit”. Then it was airports that were to blame for not having enough staff. Then it was the labour market and shortages of workers — after Qantas had illegally sacked thousands of baggage handlers during the pandemic. Joyce, it seems, always has an excuse for why a once-great airline is now regarded as a social media joke and barely worthy of the description “full service”.

.

Out of his depth?

Correction…4th in 2022. But that doesn’t stop the whingers from whinging
https://www.thetravel.com/best-airlines-in-the-world-2022/

The Great QANTAS grift:

Fascinating TB. Do you know how many airlines there are in the world?

There are about 800 commercial airline companies, and about 5000 airlines.
Being the 4th best during a particularly challenging period is a remarkable achievement.
And baggage handlers can blame the TWU for their decades of protection of rorts

There are about 800 commercial airline companies, and about 5000 airlines.

How many are International yomm, because that is who they are comparing them against

And, it’s a sad state, when you go from 1 -7, and you think that’s good

(Or shouldn’t we think in those terms?

Vietnam was but a dream.)

Not sure what your issue with that is splats?

OR, I am sure, and I’m too polite to say 🙂

Wearing them outside is fairly useless unless you’re in a crowd.

This is true, but I can imagine, in a gym especially, these would be quite handy.

I really wish the Federal government would start advertising and encouraging the use of face masks and distancing, as unpopular as that would be. I mean, this is what political capital is for, isn’t it?

(Deeves is right (and Rapinoe is despicable).

Indeed; when it comes to mono-obsessive black-and-white thinking, a(ny) mention and/or consideration of a(ny) tendency towards an(y) acceptance of full inclusion(s) of all kids’ potential participations in socially-recognised quasi-(in)formalised categories of (in)essentially made-up activities very likely just ain’t fair on/to the peculiar psyches of some wannabe side-line(d) soccer moms.)

Gatherings were so much easier when everyone had Sunday’s off

That reminds me of the story i read why penalty rates were brought in back in early Australia when people were more religious and nobody claimed to be an atheist. Penalty rates were brought in to make people stay at home on Sunday and spend time with the family.

The idea was to penalise any business who employed people on Sunday. The penalty was to force business to pay double or triple time if they opened on the Sabbath. The idea was working 6 days/week was enough and fathers should spend time with their family on the Sabbath

Let’s hope it isn’t an ambit
Simon Holmes à Court can kick in

Interesting to view the ‘history’ of public financing of ‘staffers’.

In the context of minority government in 2010, crossbenchers in the House of Representatives were entitled to two personal staff and those in the Senate to one. In 2013 this was reversed when the Abbot government achieved a majority in the lower house.

In 2016, when the Turnbull government had a majority of only one in the lower house crossbenchers in both houses were allocated funding for three personal staff. This was negotiated up to four after the 2019 election.

Seems the definition of “good government” and its “needs” are in a state of flux.

But wait – there’s more.

… funding of staff under the MOP(S) Act is an incumbency benefit, skewing electoral competition in favour of incumbents. The incumbency benefit is particularly clear in the federal context where the use of such staff for electoral campaigning purposes is normalised and in accordance with the rules set out in the Parliamentary Business Resources Act of 2017 and associated determinations

As argued, Members of Parliament are there to make the rules, not to obey same. It’s a hard life!

Re:

Volunteer researchers sounds efficient

As does volunteer lawyers . But amateurish.

It’s effectiveness that’s needed. And for the Tealers, with their (professional) backgrounds, it’s outcomes rather than intentions that will become important.

Imagine organisations like The Australia Institute becoming more influential.

So the Tealers are a political party? And your definition of a political party is?

Seems to me that the Tealers can’t afford to be seen as a ‘political party’. Yes, individually, they chose what might be labelled the high moral ground on issues such as climate change and integrity in government but their appeal is rooted in their claims to be independents . They’ll do well to protect that image at all costs.

When it comes to staffing they’ll be united but they will also join with Lambie and others out of pure self interest. Agreement on a particular issue or even several issues does not a political party make. Wait for the division(s) on matters of philosophical principle . There will be disagreements that they (currently) can’t even imagine and there will be no mechanism to hold it all together. No discipline. No structures. Like trying to herd feral cats.

Lots of egos in play.

To be expected that members of parliament don’t really (initially) understand particular legislation and the full implications, that why they should (and will) consult parliamentary counsel . Ministers et al don’t write legislation. That’s beyond their pay grade. Ministers convey what they (initially) want to departmental officers who then do the preliminary work. Early drafts for discussion and all that.

Final draft(s) are written by parliamentary counsel who ensure that the proposed legislation doesn’t contradict existing statutes etc. That the Bill reflects the government’s wishes and is ‘technically’ correct. That service (including proposed amendments. questions, clarifications etc) is available to all parliamentary members.

But this debate isn’t really about whether they can be good legislators or not. No this is about whether they have the resources to be effective politicians (or not) because that’s where their future resides.

Never heard it said – “Oh I must vote for X because he/she is a good legislator.”