I like what he has to say about the NBN http://www.watoday.com.au/business/global-train-wreck-coming-20110630-1gszi.html Also,
A glimmer of sanity in the asylum. I sure hope he raises his public profile after he leaves the RBA. OC
Agree with most of that but really the NBN isn't about profit as in $$$$. The NBN is about improving Australia's infrastructure so that everyone can get decent internet and in turn improve their skills/productivity. This will be more 'profitable' for Australia as a whole than any $$$$ ever will be. The NBN is also funded by debt not equity so it's not like they pulled $50 billion out of the coffers and put it into NBN, they don't even have $50 billion in the first place so arguing that money could be better spent elsewhere is moot.
Weren't all of our nation building infrastucture projects built during economic downturns? eg, Sydney harbour bridge, Great Ocean Road, Snowy River Scheme, Story Bridge etc
IMNHO, the NBN will end up costing us $70 billion PLUS, and will NEVER make a profit, in fact it will almost certainly make a HUGE loss. No sane CEO of an Australian public company would touch it with a 40 foot barge pole. They could have just as easily have provided satellite internet for teh outback and left teh cities struggling along on their 8MBS service. No matter, it will all be superseded by wireless long before the NBN is up and running. and the customer will stay away in droves. McKibbin can see that easily. OC
As wonderful as the NBN potentially is (if the Gov. doesn't turn it into a big set-top pink batt), At this point in world financial history, I would agree: We can't afford it. There are are more pressing things for the national purse to be dealing with for the next few years.
Probably, the NBN isn't about profit. Much like space programs aren't about profit. There are more important things than $$$$$$$$ sometimes. This is why the NBN is a government project. The government is the only entity which will fund essential yet non-profitable ventures such as space programs, heavy infrastructure programs etc. Not really, the current satellites aren't sufficient to support all of the outback and also lets not forget how pricey they are. $99.99 for 1GB data? I know it's their fault for living out in a shack but really, building decent internet is one step towards making crowded cities less crowded. This isn't true. Regardless of how good wireless is, it cannot provide the reliability of a wired connection. If you take a look at Korea, Japan, Sweden, Netherlands (all at least 10-15 years ahead of us in Internet tech) they have 100mbit to gigabit internet and it is most definitely not wireless. Have you tried torrenting on Wireless? Most consumer grade hardware dies. Have you tried gaming on Wireless? Oh man the lag. Anything that requires response time or reliability will not be wireless.
This is quite funny because a very similar suggestion was made to supporters of the Overland Telegraph. In the 1860s. (I hadn't actually LOL'ed at something on the internet for quite some time until reading that. Thanks Prof, and enjoy your new consulting job in the private sector.)
They're smaller, what's your point? We probably shouldn't even have phone infrastructure or roads then, since we're that much larger than those countries. Heck, anyone outside the capital cities shouldn't even have roads or schools. This mentality is why humans won't be achieving space travel or colonization of Mars in the next 50 years, if it ain't profitable don't do it right? The US spends trillions on wars yet 50 billion for decent internet for everyone is a bit too much to ask. If this is the general public opinion, I'm sad for the future of mankind. Might as well all just rely on the old infrastructure and not do anything.
Yep they all fit in WA with room to spare - I'm all for the NBN but a cut down version servicing the metro and heavily populated areas. I don't see the point in running fibre optic cable 1000's of km's to service less than 10,000 people. This "everyone deserves the same facilities" line is BS it's a trade off you live in the outback you get clean air, no crime, no traffic, wildlife etc but you trade off for that is less available goods and services.
Everyone has access to roads, yes, but I dont think we should upgrade everyone to high speed freeways. Same with internet.
I find this interesting http://www.theaustralian.com.au/bus...r-in-the-markets/story-e6frg9if-1226039359152
These guys out in the rural areas don't even have access to the 'road' equivalent of internet. Bringing them into the 21st century through internet access is but the first step in raising the general standard of living all the way out there. The internet is fast becoming the 'phones' of ye olden days. The EU recently regarded Internet Access as a human right. $50 billion is but a small amount to spend to improve Australia overall in terms of productivity and global competitiveness. And the money would probably be better spent than our stupid 'war' in Afghanistan.
Hardly. If the NBN was a private company seeking to raise $27 billion in equity funding from private sector investors, the private sector investors would hand the whole thing over to their accountants and none of us would even know if the deal went through (except perhaps if we read the Fin Review every day).
Agreed. Would be surprised if they manage to only use $50 billion too, knowing how terribly managed some government projects are...sigh.
