Diary of our stinking Govt.

[boris1gary]

As it's more than 100 days now, it has been suggested that a new thread was needed.  The current govt has been breaking promises and telling lies at a rate so fast it's hard to keep up.

This below is worrying, "independent" pffft, as if your own doctor is somehow what? biased, it's ridiculous. So far there is talk of only including people under a certain age 30-35, for now. Remember that if your injured in a car, injured at work or get ill, you too might need to go on the DSP. They have done a similar think in the UK with devastating consequences.

and this is the 2nd time recently where the Govt has referred to work as welfare???? So when you go to work tomorrow (or tuesday), just remember that's welfare.

http://www.abc.net.au/news/2014-04-20/disability-pensioners-may-be-reassessed-kevin-andrews/5400598

Independent doctors could be called in to reassess disability pensioners, Federal Government says

The Federal Government is considering using independent doctors to examine disability pensioners and assess whether they should continue to receive payments.

Currently family doctors provide reports supporting claims for the Disability Support Pension (DSP).

But Social Services Minister Kevin Andrews is considering a measure that would see independent doctors reassess eligibility.

"We are concerned that where people can work, the best form of welfare is work," Mr Andrews said at a press conference.

[lightningdance]

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@monman12 wrote:

"omg, ever have that "please make it stop" feeling, i have it everyday with this sad excuse of an "adult government"...there are no jobs, unemployment is rising, jobs are going every day - HOW ABOUT SOME JOB CREATION......"

I do wonder if posting comments that are demonstrably wrong make the author feel better or are designed to bolster a political myopia!

Australian Bureau of Statistics

• Labour force commentary May 2014

  Employed Persons                                                                Unemployment Rate

                                 

TREND ESTIMATES (MONTHLY CHANGE)

• Employment increased to 11,573,100.
• Unemployment decreased to 719,700.
• Unemployment rate remained steady at 5.9%.
• Participation rate remained steady at 64.7%.

Homework: Research (sorry) the variation in the unemployment rate  for the period when the Circus was in town. Hint: it increased

nɥºɾ

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In reply to your query: Designed to promote a political myopia  seems to be a popular pastime for many.

[boris1gary]

well maybe one of the cheer squad could show, with a graph of course, just how many jobs this govt has saved or created - either directly or even indirectly - what these jobs are and where they are would be wonderful. In December 2011 unemployment was 5.2%, that was not long after we saw the GFC effect Australias economy - it now stands at 5.9% sooooo...graph please, oh and I mean in Australia - not jobs they have created offshore.  

Unemployment Rate

[cherry*135]

Tony Abbott - November 2013

Today, I am committing a future Coalition government to creating one million new jobs within five years and two million new jobs over the next decade.

[cherry*135]

Bad news coming for job seekers.

Australia’s jobs market is expected to deteriorate next financial year following a slightly weaker economy, according to forecasts in the 2014 budget.

The economy is forecast to grow slightly below trend, with a large fall in resources investment partly offset by a boost from higher resources exports and the household sector’s response to low interest rates.

By the June quarter 2015 the unemployment rate is forecast to reach 6.25% and remain at this rate until the end of 2016.

http://www.businessinsider.com.au/the-budget-says-australias-unemployment-rate-will-rise-next-year-2...

[fourandsixpants]

to boris:

Yes I agree....and then there is the UNDERemployment problem RIFE in Australia.

Some parasitic employers that have avoided paying payroll tax and the minimum wage by illegally subcontracting workers don't help hard working Aussies do they?

Many Australians that are employed are poorly paid and being pushed into eventual poverty - mortgage and bankster rates are on hold at present-but for how long?

The State Govts and local Govt are hiking up utilities and rates as are the private utilitiy companies.....gas, 'lectricity, water, shire rates..... wages are not going up to keep up with these rapid rate hikes!

Some (really mean present fed govt!) know the price of everything and the value of nothing. They are complete dunderheads.

Quality health, education, training, research and infrastructure projects have always been investments, not expenditures.

If the history of man had been totally neo-liberal, we would still be in the trees with the monkeys.

Economics is an ass and a graph proves nothing and you can't eat it.

[fourandsixpants]

to bella_again ref your posting of this link about a month ago (which was an interesting read, thank you):

http://www.glennmurray.com.au/whos-really-running-australia/

Thought you may be interested in reading this article from Feb 2012, esp. comments to follow - very relevant in 2014 IMO:

'Why Is Australia So Expensive?'  http://www.dailyreckoning.com.au/why-is-australia-so-expensive/2012/02/10/

[fourandsixpants]

to boris:

An interesting read - http://www.macrobusiness.com.au/2014/06/bank-of-england-throws-egg-all-over-rba/#comment-380023

'Bank of England Throws Egg all over RBA, APRA.....'

..."Of all of the financial systems in the world, Australia’s is most similar to the UK......"

I like this comment afterwards:

"Alas, in the long run, all that will be achieved from the introduction of macroprudential is that the authorities will be given the powers to more easily engineer an epic economic crash … for the benefit of their banker mates.

The reason this is so, is because the most fundamental dynamic of the economy — the interest-based “money” creation machine — has not been altered.

Fact 1: Usury-based “money” demands ever-rising ‘growth’ in the quantum of loans, in order to sustain the payment of (uncreated) interest from the rest of the economy to the banks. Repayment of loan principle destroys “money”; therefore, ever-more new loans must continue to be created, in order for the rest of the economy to obtain the extra “money” needed to pay their “interest” obligations.

Fact 2: As household debt levels inevitably rise in concert with the “money” (principle, + interest obligation) supply, a point must inevitably be reached where the desire / ability to take on more debt begins to lag behind the rate of growth that is actually “needed” in order to sustain the usurer’s business model.

Fact 3: As seen in this post, the inevitable consequences of Fact 2 are that (1) central usurers will lower the OCR to make borrowing appear more attractive / “affordable” (“stimulate”) to an already over-indebted household sector, and (2) commercial usurers will weaken their lending “standards” to achieve the same end — make borrowing appear more attractive / “affordable”.

Fact 4: The implementation of Fact 3 can only sustain the “necessary” (for the usurers) continued rate of growth in “money” supply by drawing more people into debt, and/or more people into increasing their existing debt, thus, merely worsening the basic problem — too much debt + interest obligations, versus the economy’s total capacity to generate real production/value via external sales.

Fact 5: Introduction of macroprudential rules directly impacts on Fact 3 (2) — the commercial usurers’ ability to “extend and pretend” via weaker lending standards — and thus, directly impacts on Fact 2, the problem of rate of growth in borrowing / new “money” creation lagging that which is “needed” to sustain the usurers’ business model.

Fact 6: Armed with macroprudential, the authorities are empowered with the ability only to trigger an economic collapse when it suits them.

Fact 7: Given the FSB / Vampire Squidian drive to implement its “bail-in” regime to “resolve” insolvent banks G20-wide by the end of 2015, I can only view Goldman alumnus BoE Governor & FSB chairman Carney’s move on macroprudential in the UK as a deliberate preparatory step towards triggering the global economic apocalypse, once the “review” of G20 nations’ “legislative” changes to accommodate the FSB / Vampire Squid directives that is scheduled to begin from the Brisbane 2014 G20 meeting has been finalised.

It is most unwise to consider the introduction of macroprudential rules as any sort of panacea for what ails us. Since it does not assist the most fundamental driver of the economy — usury-based “money” demanding ever-increasing growth in “money” supply — then all it can do is act as a trigger for greater problems.

In my opinion, Carney’s move is most interesting for its timing. Just a further example of the internationalist usurer class — evil people, having no loyalty to any nation’s well-being — getting their ducks lined up...."

and additional comments: "Question, do Australian banks and the RBA practice fractional reserve banking?"

and ...."No there are no reserves"

and : "So… they borrow from overseas at 2% and lend out to us at 5%? making a 1% clip after costs?"

and finally: ..."Plus fees" ......."There is a zero monetary reserve requirement in Oz."

Yes, evil people.

[monman12]

I would suggest P007 that posting the actual article would be of more interest than a reply to it by someone who apparently does not appreciate the "Oz" banking system. It would be like reproducing comments about aviation operations from someone with no real aeronautical knowledge.

"So… they borrow from overseas at 2% and lend out to us at 5%? making a 1% clip after costs?"
 2% " Really where?
Interbank Rate in Australia averaged 7.03 Percent from 1986 until 2014, currently it is 2.75% whilst the 10 year bond rate is 3.75% and a good proportion of domestic/trading bank reserves ares domestic upon which it pays up to nearly 4% to depositors.

"and finally: ..."Plus fees" ......."There is a zero monetary reserve requirement in Oz."  Really?

 2014-06-18: Capital and Reserve Bank Reserve Fund includes the Reserve Bank Reserve Fund (RBRF), a general reserve which provides for potential losses arising from events which are contingent and non-foreseeable

The RBA is responsible for maintaining stability of the overall financial system and monetary policy, promoting the safety and efficiency of the payments system (through the PSB), managing the issuance of banknotes, providing banking services for the Australian Government and managing Australia’s official reserve assets.
In exceptional circumstances, the RBA may provide liquidity support to an individual ADI if the institution was solvent and its failure to make payments would have serious implications for the rest of the financial system. In assessing solvency, the RBA would rely on APRA’s judgment.
The RBA is also responsible for issuing financial stability standards for clearing and settlement facilities and it monitors compliance with those standards.

That is why Australia is AAA rated with Moody's,  managed the GFC,  and the UK is Aa1 with austerity still operating.

Just consider APRA and the RBA charter, rather than a single individual (overseas)  commenting ( incorrectly) upon our banking system.
Why did you decide to bring up this topic? Other than to introduce another nut:  "I can only view Goldman alumnus BoE Governor & FSB chairman Carney’s move on macroprudential in the UK as a deliberate preparatory step towards triggering the global economic apocalypse"

The sky  will not fall

nɥºɾ

[boris1gary]

Hello Paints  while waiting for the graph of jobs saved or and created by the govt, I thought we could all do with some reassuring words of wisdom from the supercalafrajalistic abbott.....

Tony Abbott claimed the idea he would slash health, eduction or jobs, was wrong

Look, this idea that the Coalition is ready with a great big scalpel to slash health, to slash education, to slash jobs is simply wrong.

Source:  August 11, 2013 – Leaders Debate

Tony Abbott on keeping commitments after the election

It has always been my position that if you go to an election saying something you should keep that commitment at least for the term of the subsequent parliament.

Source:  August 12, 2013 – Joint Press Conference, Melbourne

I want to be known as a Prime Minister who keeps commitments. I appreciate that the trust that the public have in Prime Ministers and other significant members of Parliament has been trashed because this Government, this Prime Minister, and his predecessor, have been just appalling, scandalous at making promises and not keeping them - whether it be the no carbon tax promise, whether it be the surplus promise, these people have been hopeless at maintaining the public's trust. I want to restore it.

…

I will do what I say we will do. I want to be known as someone who under-promises and over-delivers.

…

We will make - we will keep the commitments that we make. All of the commitments that we make will be commitments that are carefully costed and the savings to fund them will all be well-known well before people go to the polls on Saturday, September the 7th.

…

We won’t do anything that is contrary to our mandate.

Source:  August 13, 2013 – Joint Press Conference, Colo Heights, New South Wales

Tony Abbott claimed he would focus on reducing peoples cost of living pressures and improving job security

I am just going to keep doing what I have been doing every day since becoming Leader of the Opposition and certainly every day since this campaign started. Focusing on how to reduce the Australian people’s cost of living pressures, focusing on how to improve people’s job security.

Source:  August 10, 2013 – Joint Press Conference, Northern Territory

[durruticolumna]

Seen the latest poll results for Slick Newman?Not real good I'm sorry to report.A 14% swing back to Labor since the last state election. If an election were held in Qld,Labor would win back power.After the hammering they got at the last election which left them with only a handful of seats,that's a massive turnaround. I'd like to think Tony's popularity had some bearing on the poll swing.