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Half of us are financially rooted, new report

August 12, 2019

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From the files of “news that surprises no one,” a new report has found that almost half of all Australian households spend their entire monthly income, while one in five don’t feel confident they could raise $3000 in an emergency.

The ME Bank ‘six monthly survey of financial comfort’ report found that stagnant wages were leaving many Australians struggling to cover day-to-day bills.

The euphemistically titled ‘financial comfort’ indicator of full and part-time workers has seen a steep decline since February, with just a third of households reporting an increase in annual income over the past 12 months.

One in every two Australians also felt it would be difficult to find a new job, which is the highest number recorded since late 2016.

“It’s clear from the latest report that there are increased concerns around job availability and underemployment,” ME consulting economist Jeff Oughton said.

The report also revealed a decline in comfort levels from homeowners with a mortgage and renters.

“It’s evident that despite the latest monetary policy changes, there remains high levels of housing debt worry and actual payment stress among Australians,” he said.

“The number of households contributing more than 30 per cent of their disposable income towards paying off a mortgage has remained steady at about 43 per cent, while the corresponding figure for renters has risen to 62 per cent – partly reversing the improvement reported in the previous two surveys.”

Financial comfort only increased in high-income households with more than $200,000 in income a year and for those with more than $1 million in their superannuation.

Reserve Bank governor Philip Lowe has called for state and federal governments to lift wages for public servants, which accounts for a third of the nation’s workforce, arguing it would stimulate growth across the broader economy.

The government has since shutdown the proposal such a move would have negative repercussions on keeping the budget in surplus.

Nine finance editor Ross Greenwood said the RBA is also calling for more jobs to be created as a possible solution to ease concerns.

“They believe if more people are in work, there is more competition, so wages will rise,” he said.

The “rest of Australia” responded with a hearty chuckle.

 

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Frankly, George Calombaris is really just a bit of cunt.

August 1, 2019

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He’s the poor little Greek boy who hit the big time and made millions from his reputation as a restaurateur and television personality.

However, his reputation has since been dragged through the proverbial gutter after it was revealed that he had underpaid his 500 employees to the tune of 7.83 million dollars.

George Calombaris appeared on the ABC’s flagship current affairs program “730” last night to explain that it was “an honest mistake,” wasn’t intentional, and that he “didn’t know anything about it.”

His performance has been widely slammed as a “desperate PR stunt,” and shameless attempt to rescue his rapidly unravelling reputation and professional standing.

In an industry that is widely regarded as paying the lowest levels of remuneration at the best of times, and demands of its workers – long hours, often poor conditions and arduous work – ripping them off by failing to pay overtime or other penalty rates is quite possibly the worst of the worst.

But of course, Calombaris would no doubt assume that some lowly apprentice chef or kitchenhand would so relish the opportunity to work alongside his magnificent ego that payment in monetary terms would seem so woefully inadequate and unnecessary by comparison.

In George’s defence, who amongst us hasn’t noticed a spare 8 million dollars sitting in our bank account that we would have otherwise thought would have been allocated towards entirely expected and predictable business expenses? It’s an easy mistake to make, and one that George misguidedly assumed everyone would believe. He even threw in some tears for good measure.

Let’s not forget, this is the same George Calombaris who in 2012 slammed the Fair Work Act for instituting penalty rates for restaurant staff, claiming they were “uneconomical” for small businesses.

He complained that some of his restaurants were unprofitable on a Sunday because he was required to pay staff up to $40 an hour. He is quoted to have said:

“The problem is that wages on public holidays and weekends greatly exceed the opportunity for profit – it’s not like they’ve had to go to uni for 15 years.”

In that same year, Calombaris moved from a $740,000 Victorian terrace in Fitzroy North to a $2.7 million house in Toorak.

He then upgraded again in 2013, buying another Toorak property for $4.75 million.

Nevertheless, it seems that people have already made up their minds about George Calombaris and don’t like what they see.

From picking a fight with a spectator at a football match, to ripping off his staff, to now begging people to eat at his restaurants, it appears the ego has finally landed.

Oh dear, how sad, never mind.

 

It’s all going to Hell in a hand basket! (or is it?)

July 11, 2019

 

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Australia S&P/ASX 200 Stock Market Index

 

So I was thinking we could talk about something sensible for a change (and see how long it lasts).

The word on the street is that the Australian share market is due for a correction with some pundits claiming it could be as much as 10 or 20%. Given that most of your are capitalistic pigs conscientious investors, I’d be interested to know whether you think there is an element of truth in this, or is it just bullshit.

Surely, the so-called “fundamentals” of the Australian economy are looking shaky, with the RBA practically begging the government to bring forward infrastructure spending in order to spark up Australia’s languishing economy which is spluttering along on life support.

Consumer and business confidence is in the doldrums, interest rates are at record lows, retail is technically in recession and the construction industry is predicting mass layoffs as the housing market continues to struggle.

Yet the ASX continues to climb. Something has to give, or does it..?

 

Scott Morrison ‘an Absolute Arsehole’ says former Liberal Party Justice Minister

July 1, 2019

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Former Justice Minister Michael Keenan, who served under Scott Morrison once slammed the PM as an “absolute arsehole”.

The startling revelation is published in a new book Plots and Prayers by Insiders panelist and political commentator extraordinare Niki Savva.

According to Savva, the frank character assessment was offered up by Keenan during a meeting between Finance Minister Mathias Cormann, Attorney-General Christian Porter and Morrison’s chief ally Ben Morton in the midst of the leadership furore that led to the party dumping Malcolm Turnbull.

Porter joined in, saying he did not think Morrison was “a team player.”

Cormann said he had seen Morrison up close now, and, in his opinion, “Dutton was better.”

FOR CHRIST’S SAKE!

The book also reveals that Morrison and his fellow Pentecostal believer Stuart Robert, prayed that “righteousness would exalt the nation,” in the minutes before Mr Morrison was made prime minister by the Liberal party room.

Morrison also asked his receptionist to text his wife to ask that “his family pray for him” as he headed into a prayer session with Mr Robert.

“We prayed that righteousness would exalt the nation … righteousness would mean the right person had won,” Mr Robert told Savva.

THE LORD WORKS IN MYSTERIOUS WAYS

Stuart Robert is now the Minister for the National Disability Insurance Scheme.

IT’S A MIRACLE!

The book also reveals Mr Morrison described his May 18 election win as a “miracle” and that he texted deputy Liberal leader and Treasurer Josh Frydenberg the night before to say the result was “in God’s hands” and that “I believe in miracles.”

The book also reveals Malcolm Turnbull ignored warnings from key allies about Peter Dutton and Mathias Cormann.

Former attorney-general George Brandis told Mr Turnbull early in 2017:

“For God’s sake, can’t you see this guy is stalking you?”

But Turnbull scoffed at the suggestion saying:

“Don’t be ridiculous, George. As if Dutton is capable of being prime minister.”

 

Perhaps John Setka is just “misunderstood”.

June 11, 2019

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Hate him or hate him John Setka is set to be booted from the Australian Labor Party when it meets next month after a chequered history of controversy culminating in remarks he made recently about ant-violence campaigner Rosie Batty.

The Victorian secretary of the CFMEU has been under fire after he told a union meeting that men had “fewer rights” because of Ms Batty’s work.

Ms Batty’s role as a campaigner began in 2014 after her 11-year-old son Luke Batty was murdered by his father Greg Anderson.

Batty’s personal story of domestic violence and the murder of her son Luke by her ex-partner received widespread public and media attention.

She became an advocate for domestic violence survivors and victims, and sought to address perceived systemic failures in responses to domestic violence in Australia. She has spoken about a lack of communication between services, about public perceptions of domestic violence, about a lack of funding, and about police and legal procedures that she felt disempowered her ability to protect herself and her son.

Batty was appointed 2015 Australian of the Year, awarded the Pride of Australia’s National Courage Medal in 2014, awarded an honorary doctorate by the University of the Sunshine Coast, and was ranked number 33 in the list of the World’s Greatest Leaders 2016 by Fortune magazine.

Despite his affable demeanour, The Gutter Trash can also reveal that a former deputy president of the Fair Work Commission gave a statement to police alleging that Mr Setka repeatedly intimidated and terrified a woman over several months.

Police analysis of Mr Setka’s phone activity reveals on a single evening last October, he called the woman 25 times and sent her 45 text messages, calling her a “weak f—en piece of shit” and a “treacherous Aussie f—en c—” and a “f—en dog”.

Apparently Setka will plead guilty to charges of harassing a woman.

However Setka insists his comments about Rosie Batty were “taken out of context”.

Witnesses at a national executive meeting of the CFMEU Construction last week said Mr Setka had repeatedly told them he had “nothing to be ashamed of”.

They say he spoke uninterrupted and at length, insisting he could not be blamed for Labor’s federal election loss as he had bowed to pressure to go on long-term leave during the campaign due to his criminal charges.

He told the meeting that Labor could “suck me off”.

 

 

Election Night Special!

May 18, 2019

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‘End Of Life As We Know It’: Kerri-Anne Predicts Global Apocalypse if Labor win!

May 15, 2019

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One-time celebrity show queen and now disgruntled embittered middle-aged hag Kerrie-Anne Kennerley has issued a dire warning for Australia and “the rest of the world” claiming that a Bill Shorten – Labor win this Saturday night will “end life as we know it.”

The once popular celebrity made the startling prediction on Channel Ten’s “Studio 10” daytime chat show earlier today claiming that no one will be spared from the global death and devastation that will be unleashed across the planet [as early as next week].

The bizarre tirade began innocently enough but exploded into a doomsday prophecy when the conversation turned to gender dysphoria.

The veteran host, 64, immediately slammed Labor’s plan to set up a taxpayer-funded National Gender Centre.

‘One thing I’m seriously outraged about, the millions and millions they’ll spend on a Gender Commission,’ Kennerley said.

‘These kids out there who are gender confused, and there’s a percentage of people out there gender confused, they will put up this Commission and we, like Tasmania, will have a child and it won’t be male or female, it will be gender-free.

‘That’ll be national.’

Kennerley was referring to Tasmania’s new policy of making gender optional on birth certificates – although Mr Shorten has said he will not implement this nationally.

Ms Kennerley also attacked Mr Shorten’s economic policies, including his proposed changes to the way profits from shares are taxed.

She admitted that she had to ‘google’ what franking credits were but went on to criticise Mr Shorten’s planned changes to them anyway.

‘Taking money retrospectively, as they will do, that franking credits, I had to google that, this is the way (for) self-funded retirees not to leach off the government pension.

‘They look after themselves. They’ve got a plan. He’s going to rip that off them.’

She also criticised Mr Shorten’s plan to remove tax breaks for property investors.

‘He’ll put in negative gearing… no more investment into houses so your rent will go up.’

 

 

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