Australian politics thread.

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2010-10-29 06:37:51

#726

Ty: Mass Media Casualty; +2,398|6767|Noizyland

Yeah but I'm saying Australians pay on average nearly $12.5K a year per household in income taxes, (i.e. not taking into account other taxes,) what does it matter if $1k of that gets taken for the next eight years to be put into something that will improve Australia's infrastructure? There are much worse things to spend taxpayers' money on.

[Blinking eyes thing]
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2010-10-29 15:08:50

#727

Dilbert_X: The X stands for; +1,810|6098|eXtreme to the maX

For one there are better things to spend $43bn, for another me paying $8,000 for something entirely useless for the vast majority of Australians is something I can do without, for another $43bn will be $150bn by the time its finished.

Basically unless you're torrenting Gigabytes a day you don't need the NBN.

If the govt thinks it worth putting in a decent fibre backbone system then fine. Running fibre to homes and forcing them to take it is madness.

Last edited by Dilbert_X (2010-10-29 15:11:37)

Русский военный корабль, иди на хуй!

2010-11-04 05:30:18

#728

Ty: Mass Media Casualty; +2,398|6767|Noizyland

Australian dollar is now worth more than the US Dollar. We'll see how long that lasts.

[Blinking eyes thing]
Steam: http://steamcommunity.com/id/tzyon

2010-11-04 05:31:24

#729

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6145|what

Ty wrote:
Australian dollar is now worth more than the US Dollar. We'll see how long that lasts.

A couple of months.

The US is about to start more stimulus, and we've got another rate rise due before the end of the year...

2010-11-04 05:48:45

#730

Ty: Mass Media Casualty; +2,398|6767|Noizyland

On rates I don't think so, I doubt there'll be another rate rise 'till early next year. The RBA raised rates to counter inflation - which isn't actually an issue at the present time and I reckon the RBA jumped the gun a bit. Meanwhile the Commonwealth Bank, (and I bet it wont be the only one of the big banks,) has gleefully taken this as a reason to raise their rates by almost double the official rate which will actually do a lot of the RBA's job for it.

What do you think of all this "increasing competition in the banking sector" bollocks? It seems to be seen as a fix-all with both major parties racing each other to get legislation out to increase competition - have they forgotten already about the Gobal Financial Crisis? A big part of that was caused by lenders being spurred into heavy competition, conducting a 'race to the bottom' which led to far too much spending and a huge increase in the amount of bad debt. It's idiot economics with both parties trying to cash in on the general public's current anger at the banking sector announcing record profits while hiking interest rates and laying off their own staff.

My $0.02 AUD.

[Blinking eyes thing]
Steam: http://steamcommunity.com/id/tzyon

2010-11-04 05:55:55

#731

Dilbert_X: The X stands for; +1,810|6098|eXtreme to the maX

Depends, competition to avoid making bad loans is also competition, it was short-termism more than competition which was the problem.

The RBA rate is only one of a number of factors when the banks set their rates.

Русский военный корабль, иди на хуй!

2010-11-04 06:10:22

#732

Ty: Mass Media Casualty; +2,398|6767|Noizyland

Yeah but they follow the RBA's lead. Banks have been talking about raising their rates independantly of the RBA for months now but they didn't. As soon as the RBA announced it's increase the Commonwealth Bank announed its rise in less than an hour. They were ready to raise their rates but they weren't going to act before the RBA.

On competition - there's already plenty of competition in the "avoid bad loans" competition. There are a lot of smaller financial institutions that are just as safe as the big four but they're just not getting the same support. If people want to increase competition al they need to do is use what's avaliable to them. The type of competition that's being talked about is the "keep prices down" competition anyway. The key motivator to increase competition would be for the ACCC to be given some powers to force banks to be more transparent. Best case scenario for banks is they're able to explain their dick-moves logicaly so people understand an everything stays the same, (although with a little more sense.) Worst case scenario for banks is that they can't explain, are revieled to be dicks and people shop elsewhere - which would increase competition.

[Blinking eyes thing]
Steam: http://steamcommunity.com/id/tzyon

2010-11-04 09:51:21

#733

DrunkFace: Germans did 911; +427|6673|Disaster Free Zone

AussieReaper wrote:
Ty wrote:
Australian dollar is now worth more than the US Dollar. We'll see how long that lasts.
A couple of months.

The US is about to start more stimulus, and we've got another rate rise due before the end of the year...

Rate rise increases foreign investment which increase demand and price of currency... A stimulus floods the market with extra cash lowering it's value. I'd don't know how you came to your conclusion.

2010-11-05 02:24:07

#734

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6145|what

DrunkFace wrote:
AussieReaper wrote:
Ty wrote:
Australian dollar is now worth more than the US Dollar. We'll see how long that lasts.
A couple of months.

The US is about to start more stimulus, and we've got another rate rise due before the end of the year...
Rate rise increases foreign investment which increase demand and price of currency... A stimulus floods the market with extra cash lowering it's value. I'd don't know how you came to your conclusion.

https://img690.imageshack.us/img690/9776/facepalmj.gif

DrunkFace wrote:
Rate rise increases foreign investment which increase demand and price of currency...

So our dollar will have increased demand and the price of the Aussie $ will increase.

DrunkFace wrote:
A stimulus floods the market with extra cash lowering it's value.

So the US will have a lowered dollar value due to the stimulus.

DrunkFace wrote:
I'd don't know how you came to your conclusion.

And your argument is that you don't know how I came to my conclusion?

2010-11-05 04:24:20

#735

DrunkFace: Germans did 911; +427|6673|Disaster Free Zone

AussieReaper wrote:
DrunkFace wrote:
AussieReaper wrote:

A couple of months.

The US is about to start more stimulus, and we've got another rate rise due before the end of the year...
Rate rise increases foreign investment which increase demand and price of currency... A stimulus floods the market with extra cash lowering it's value. I'd don't know how you came to your conclusion.
http://img690.imageshack.us/img690/9776/facepalmj.gif

DrunkFace wrote:
Rate rise increases foreign investment which increase demand and price of currency...
So our dollar will have increased demand and the price of the Aussie $ will increase.

DrunkFace wrote:
A stimulus floods the market with extra cash lowering it's value.
So the US will have a lowered dollar value due to the stimulus.

DrunkFace wrote:
I'd don't know how you came to your conclusion.
And your argument is that you don't know how I came to my conclusion?

If what you say actually happens. It'll be a darn site longer then a couple of months. Especially considering your predictions aren't even going to happen for a couple of months themselves.

2010-11-05 04:36:58

#736

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6145|what

Even the announcement that the US was going to stimulate the economy further pushed the A$ above parity... so I don't see how it isn't going to happen until after a few months.

And it will last a couple of months, because the Australian economy is based on exports. Mineral and animal.

A high A$ makes these industries less competitive globally. So as the A$ climbs due to demand, our export market will suffer the negative effects and our economy will actually worsen.

By which time the effects of the US stimulus should have started to improve the US economy.

How hard is that a concept to understand?

2010-11-05 04:47:45

#737

Dilbert_X: The X stands for; +1,810|6098|eXtreme to the maX

AussieReaper wrote:
Even the announcement that the US was going to stimulate the economy further pushed the A$ above parity... so I don't see how it isn't going to happen until after a few months.

And it will last a couple of months, because the Australian economy is based on exports. Mineral and animal.

A high A$ makes these industries less competitive globally. So as the A$ climbs due to demand, our export market will suffer the negative effects and our economy will actually worsen.

By which time the effects of the US stimulus should have started to improve the US economy.

How hard is that a concept to understand?

Depends, if the contracts are agreed in U$ - which the Chinese often do, and is standard for commoditites like oil - then there's not a lot of effect.

But the A$ is going through a peak which will inevitably fade. The A$ is highly volatile and apart from commodities - which will fall dramtically as soon as China slows down, we don't have much of an economy.
In the meantime we're burning the revenue on valueless crap like stimulus bonuses and the BER.

Русский военный корабль, иди на хуй!

2010-11-05 05:03:43

#738

DrunkFace: Germans did 911; +427|6673|Disaster Free Zone

AussieReaper wrote:
Even the announcement that the US was going to stimulate the economy further pushed the A$ above parity... so I don't see how it isn't going to happen until after a few months.

And it will last a couple of months, because the Australian economy is based on exports. Mineral and animal.

A high A$ makes these industries less competitive globally. So as the A$ climbs due to demand, our export market will suffer the negative effects and our economy will actually worsen.

By which time the effects of the US stimulus should have started to improve the US economy.

How hard is that a concept to understand?

The economy is not based on exports. We are a service based economy based around consumer spending.

As dilbert has said most contracts are based in $US, so a strengthening $AU will have no effect on global competitiveness, only on the exporters profit margins unless they hedged on currency changes.

A stimulus will have no effect for at least 12 months, and more likely take 18-24 months to see results. I can no reason way the $AU will not stay above parity for at least 6 months if not 12-18months.

Last edited by DrunkFace (2010-11-05 05:04:50)

2010-11-05 05:05:53

#739

Dilbert_X: The X stands for; +1,810|6098|eXtreme to the maX

Our, poor, balance of trade depends on exports - its a big fat part of the economy with the associated taxes, wages etc.

It wouldn't take much for China to cut their consumption, or redirect it to a country which will sell its mines to China.

The A$ is also overblown thanks to interest rates, the rest of the world will catch up in a year or so, then we'll be back to U$0.70-0.80

Last edited by Dilbert_X (2010-11-05 05:08:01)

Русский военный корабль, иди на хуй!

2010-12-05 01:44:50

#740

Ty: Mass Media Casualty; +2,398|6767|Noizyland

Interested in this meeting of state attorney generals next week to discuss the possibility of including an R18 rating for video games. Should be productive with Michael Atkinson out of the picture. The dude speaking for the Electronic Frontiers Australia lobby seems like a sharp and clear communicator while the main opposition is a Christian lobby group relying on spin and panic to get their points across.

Should be interesting.

[Blinking eyes thing]
Steam: http://steamcommunity.com/id/tzyon

2010-12-05 02:42:49

#741

Burwhale: Save the BlobFish!; +136|6214|Brisneyland

Long overdue as well. I may actually buy Left for Dead 2.

2010-12-10 02:08:32

#742

Burwhale: Save the BlobFish!; +136|6214|Brisneyland

Not sure who to believe here. The Australian says that it has been rejected thanks to WA and SA attourney generals. ABC news says that decision hsa been delayed. Either way it sucks.

2011-02-09 17:56:59

#743

Spark: liquid fluoride thorium reactor; +874|6667|Canberra, AUS

What goes around comes around it seems - now the Libs are taking hits from leakers.

Snap poll - how long will Abbott last? A few months? A year or two? Til the next election (after which all bets are off)?

The paradox is only a conflict between reality and your feeling what reality ought to be.
^{~ Richard Feynman}

2011-02-09 18:08:54

#744

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6145|what

Spark wrote:
What goes around comes around it seems - now the Libs are taking hits from leakers.

Snap poll - how long will Abbott last? A few months? A year or two? Til the next election (after which all bets are off)?

And be replaced by who exactly?

Joe Hockey?

Their ranks are dwindling.

Nelson and Turnbull were/are arguably the only two intelligent senior Libeals and look what happened to them.

2011-02-09 18:25:08

#745

Spark: liquid fluoride thorium reactor; +874|6667|Canberra, AUS

Hockey is intelligent, but weak.

The paradox is only a conflict between reality and your feeling what reality ought to be.
^{~ Richard Feynman}

2011-02-10 00:38:46

#746

Jaekus: I'm the matchstick that you'll never lose; +957|5170|Sydney

Joe Hockey would actually be a good choice in terms of political nouse and personality but I think he's too "nice" to pull the trigger on a leadership spill. I think he also plays his cards pretty safely too, which doesn't help his cause for leader either.

2011-02-10 03:22:48

#747

Dilbert_X: The X stands for; +1,810|6098|eXtreme to the maX

I have yet to hear Hockey demonstrate he has any real understanding of anything.

Русский военный корабль, иди на хуй!

2011-02-10 03:44:52

#748

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6145|what

Do you guys remember this?

Annabel Crabb was always going to vote for the anti-greens ad (lol), but it's still surprising to me how John Hewson has turned towards the left in his old age.

And, this is the best ad the Greens have (n)ever done.

2011-02-10 04:11:14

#749

Burwhale: Save the BlobFish!; +136|6214|Brisneyland

I think the libs would be crazy to get rid of abbott at the moment. Simply because theres no one else to replace him. Andrew Robb and the guy that looks like the lego man (Kevin Andrews from memory) both seem to want to have a go. They are both far right and would damage the liberals more. Joe Hockey is a political lightweight ( ha) . There best bet would be to be nice to Turnbull again, say "sorry we kicked you out" and let him have the top job. I think he would be able to formulate alternative policies, where Abbott is simply opposing for oppositions sake.

So as for Sparks question, I give abbott a year, maybe a year and a half. Rumblings among libs have just started, I think they will have to fester a while before any action is taken. If they want to stab their leader in the back faster, they should consider joining Labor.

2011-02-10 07:04:09

#750

Jaekus: I'm the matchstick that you'll never lose; +957|5170|Sydney

That's a pretty astute analysis of it I reckon ^^

If they're going to push for a leadership spill it'll need to be done inside the next 18 months for it to carry into an election... having said that, well, it worked for Gillard (barely).

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DrunkFace wrote:

AussieReaper wrote:

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