APRA is a joke and lets face it, they don't even decide what is "prudent" or not in the first place. The Howard government did. APRA didn't stop 95/100/110% lends. APRA didn't stop FHOG being used as "deposits' where as previously one had to get a 20% deposit AND able to show the savings over a long period that went to achieve that deposit. These and more ALL happened under the Howard governments rule. Low Doc/No Doc loans could be achieved at the big 4 (and others) by walking in off the street. Don't blame brokers for dodgy shit in Australia for after all the VAST majority of broker loans went to the big 4 anyway. So even if a broker was dodgy the responsibility relied with the loaner of funds anyway. Brokers did not get up to anything close to what they did in the US. In fact some Australian broking institutions are very reliable and have very good policies on how they pay their franshisees so that there is no reason to go with one bank or another (other than getting their client the best deal). The only ones really whinging about brokers are dodgy bankers.
Being cashed up in the sort of hyperinflation that is possible would be equivalent to setting fire to all your money now. In hyperinflation (Zimbabwe, Weimar Germany et al), to have cash is to be poor. To have physical assets (PM's etc) would be rich. Do not get me started on the NBN - seriously. Whichever peanut brained twat is running that thing has the business sense of a dead South American gnat*. Who else would spend a gazillion dollars to connect - wait for it - 10 homes in Kiama when they could roll out the same deployment in a CBD and get 1000 times the number of users for the same outlay? I'm not saying rural and bush doesn't need to be or shouldn't be connected - it should, most absolutely - but get the most penetration as early as possible to jack up the early income (or payoff) stream surely makes more business sense? Only a bureaucrat could have conceived of something as stupid as the NBN rollout plan. *Apologies to all South American gnats, living, or dead, for the insult I bring to your species by comparing you to the idiot that is in charge of the NBN.
Ooh I do love a good rant... but I was wondering... no one mentioned Tony Abbot at all. Cause I'm just as pissed off as the next person over Julia and her lies - but then I look at the alternative and I feel utter despair. Described by his own daughter as a "gay churchy loser". Can no one save us?
I know it's sad isn't it! But regardless of all his shortfalls I think as Australians in a democracy at the very least the ALP needs to be given the ass not because the LNP right now represents that much better an option right now but for the simple fact that when a government has EPIC FAIL on it's report card as Labor has over the last two terms you need to get rid of them at the bare minimum just to say "we will not put up with this".
I agree. Rolling out the system in sparsely populated areas first is moronic, whoever made that decision needs to find a different line of work.
"Whichever peanut brained twat is running that thing has the business sense of a dead South American gnat*." Before the word 'twat", you left out the word SOCIALIST!!!! 'nuff said! OC
The days of cheaper resources are gone. China needs the resources from everywhere. My understanding is that China's increase in coal consumption for 2011 or 2012 will equal Au entire annual production. Let that sink in a minute. China's one year increase in coal consumption is equal to everything you are currently producing. China will continue to buy from Au, because they have no choice. And they will continue to take resources from anywhere and everywhere they can beg, borrow, buy and steal them. Au currency is too small to become the reserve currency, but you will continue to have a very strong currency. You guys have a great future ahead of you if you don't muck it up like we have in America.
"You guys have a great future ahead of you if you don't muck it up like we have in America." We did that in 2007 and then again in 2010. We will NOT make the same mistake in 2013. We have a lARGE number of socialists that need a permanent consignment to the dustbin of history. Nevertheless, the damage done so far and into 2013 will be substantail and will take decades tp repair. I doubt we have that much time. OC
When will Australians get that you are not voting for a person, you are voting for a party machine? It doesn't matter a toss if Abbot is religious or Gillard is an atheist, that are both temporary heads on sticks that don't have much to do with setting party policy, and neither of them are likely to last in their positions. Look at what the party does, not the leader. Abbot is not the Liberal Party, and Gillard is not the Labour party. Going into a voting booth and voting for a personality is not very smart. Labour put Gillard in place to distract Australia from seeing that the country was really being run by the Albanese's and Arbibs and Ludwigs - Even Rudd called them a "cancer". If Australians aren't smart enough to look at the party instead of the puppet at the illusory "top" then no wonder we have a failing economy.
Unfortunately I am inclined to believe this. But I am also inclined to believe that powerful people behind the scenes control the parties. These 'democratic' elections are a fallacy! We are living in a world where the rich and powerful are the real rulers . So the rich get richer and the poor get poorer. There are too many people dependent on government and too many people in debt, and more and more government intervention into everything and this is how they want us to be so that they can control us. If you think back in history there has usually been some form of feudal system, some form of elite ruling the masses and keeping them in a form of slavery, it is just that most people are too brainwashed today to see the same thing is happening to them! What can we do about it - not a lot besides trying to get out of debt and start stacking pms so that we have some independence or learn a useful trade which you can barter with. Can you imagine the chaos in the USA if they stopped the social security cheques? There would be riots, looting, home invasions - it would be ugly! The problem is - western countries with aging populations and huge debts are finding it hard to keep up their welfare system so there will be cuts eventually or much easier if they devalue the currency by letting inflation take care of the problem.
Ah! I see Old Codger has awaken from his slumber. I wonder if you had good dreams of Tony lifting Productivity in 2013. He is the hardest working person in Australia. He has had 42 jobs in the last year or so, including Opposition Leader, Liberal Leader, boundary rider, meat packer, cake maker, truck driver, mining worker, cement worker, marathon runner, triathlon competitor, child care, hospital wardsman, taxidriver and scientific skeptic. He'll do anything to get the Top Job. He could well be described in the new TV show " this politician has talent'..I know, I know Julia has none.. If we are to have another change to the Liberals, I hope it is someone like Turnbull that is the leader and that he has a bit of seriousness about himself. Have a nice day Old Codger, I'll be missing in action for the next 4 o r 5 hours but I can't wait till then, when I fire up the computer to see your response to my rant on TA. I hope he is not your pin up boy or God help us all. Regards Errol 43
I am a member of a few Forums etc, and I have found that when debating with a socialist it becomes obvious that the more they fear a political opponent, the more they ridicule, insult, and denegrate them. It is the normal tool of trade of your average socialist (mass)debator. The tactic extends to the debating opponent also of course! ...and if the socialists are looking for a new leader, which I am sure they are, I can arrange a transfer of komrade malcolm at short notice. They certainly have nothing suitable in the present ranks. I believe that the socialist blood on the Forum floor has been washed off. Just in time for the Ides of August (or September). OC
Sorry OC, I have to take exception to the lauding of Howard. In my opinion a slippery politician beyond peer, someone who went from school to university to professional politician. I agree he was probably the cleverest politician Oz has had, in that he invented wedge politics, introduced 'I reject that argument' to enable politicians to avoid the actual argument, and knew what the mood of the electorate and what they wanted - or in other words knew when to strike. It's easy to be everyone's favourite PM when times are good. Introducing the GST assisted the gap between the poor and the rich increasing to the widest margin ever during the Howard years. The GST windfall was handed back to the people to ensure reelection - no big plans for John and crew besides getting re-elected. No super fast rail, no NBN, no plans except a 'future fund' for future pillaging. As for his contribution to Australian life, this is the person that destroyed the culpability of ministers under the Westminster system. No Minister must resign, no public servant must resign, in fact 'bad outcomes' are blameless thanks to Howard. Everyone wanted to Garrett to resign. Before Howard he would not have lasted a day after the insulation affair, but Howard made the removal of ministerial responsibility a fact of political life in Australia - hence no more resignations. No more paying for decisions or poor performance. Because of the parliament no longer being the centre of truth in government (lied to Parliament - sure you don't have to resign, just say you didn't realise), Howard managed to put Australia on he map with the illegal war in Iraq, managed to create wedge politics over the 'illegal immigrants' and at the same time massively increased immigration quotas. Quotas that over stressed services and neighbourhoods are dealing with still. I would argue that the current 'knife' culture in Melbourne and Sydney is a direct result of Howard's actions and politicising human rights for his own political advantage. Place thousands of refugees with histories of violence on social security, with zero support services, zero incentive to education and of course you have gangs of disenchanted youths wandering the streets. There is little education opportunity for them since Howard managed to make further education the province of the wealthy, and reduced funding to all levels of education, whilst continuing the funding formula that gave advantage to wealthy private schools. In a stroke of political genius he also introduced the concept of 'non-core promises' in election campaigns (you think Julia lied about carbon - John wrote the rule book on that one). Those are the promises you can throw away because they won't help you win the next election. Benjamin Disraeli, said 'Governments do not govern, but merely control the machinery of government, being themselves controlled by the hidden hand.' and the unseen hand is no more evident than in the job that Howard did on Australia. If he had the vision that makes a leader 'great' he would done more than bribe himself into office with surpluses and tax bonuses. If he'd achieved more than a bank balance built on social injustice he would have swept all before him. but having spent 35 years or so sacrificing principle and vision to election, he was just another politician whose hubris destroyed his Party and any legacy he may have had. This quote puts succinctly the regressive nature of the Howard government and its failure of vision: There's more to being a 'great' leader than just balancing the books. p.s. http://inside.org.au/the-howard-impact/
Howard has a lot of blood on his hands. Australia's (or at least it's prime minister's) support of the USA invading Iraq was incredibly symbolically important to president Cheney when he and his sidekick ignored the UN and began covering Iraq in depleted uranium and daisy cutters.
NO doubt about it, John Winston Howard was the "great satan". By far his greatest sin was keeping the socialists from power for so long. Like I said, they hated (and feared) him with a passion. OC
