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-   -   War in Australia (any Oz Politics): the Original (https://www.pprune.org/jet-blast/477678-war-australia-any-oz-politics-original.html)

alisoncc 16th Mar 2015 01:44

Can we move on from the petty bickering about the indigenous population culture or lack of?

Yet another instance of the Law of Unintended Consequences taking a big bite.

In the early 1980's we were paying a mortgage that was demanding 18% interest. Older retirees who had saved all their lives were then able to live on their interest, with little call on the government for age pensions.

So come the 2010's and, out of total stupidity by those who seek to manage the economy, the interest on savings is non-existent, even to the extent that inflation means even the initial sum is of a decreasing value. And strangely enough there is a significant increase in retirees, no longer being able to live on their savings, having to call on the government for an age pension.

OMG, how coud this happen says Joe H the F*ckwit. " We can't afford to support all these people we have ripped off". "We need an Intergenerational Report" as if to suggest that the older generation are responsbile.

Well Mr idiot Joe, it's the older generation whose savings are being used to support younger investors with ludicrously low interest rates that you and yours have engineered. Yet another instance of the Law of Unintended Consequences.

.

Clare Prop 16th Mar 2015 02:32

True, but if you want to blame an entity for interest rates suggest you blame the banks. They have more control over it than the government.

Supply and demand...if the banks were vying for these "savings" then presumably there would be some competition for this money and rates to attract it. Perhaps there just aren't big lumps of cash looking for a bank any more...so not much supply...and with the banking system "real" money deposited isn't needed when they can magic it out of thin air...so not much demand.

I wonder if this lack of funds for retirees can be linked to the social engineering that decided we were all too stupid to manage our money so Nanny had to force us into compulsory superannuation? It doesn't seem to have worked very well, does it. :bored:

alisoncc 16th Mar 2015 04:18

But the Reserve Bank sets the base rate, which is in itself based on criteria set by the government. Worldwide it has been decided that people who spend, spend, spend are more valuable than those who save.

Perhaps I was meant for a different era.


Micawber is known for asserting his faith that "something will turn up". This has formed the basis for the Micawber Principle, based upon his observation:
"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. "
"Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery."
Misery now applies to the former not the latter one suspects.

PinkusDickus 16th Mar 2015 05:03


Well Mr idiot Joe, it's the older generation whose savings are being used to support younger investors with ludicrously low interest rates that you and yours have engineered.
Simplistic nonsense.

Interest rates at 18% means the nations saving are being eroded by inflation, and business cannot afford to borrow at 22% so they contract their workforce, giving rise to unemployment. The interest rates set by RBA are based on a whole basket of currencies and exchange rates. If they set 22% tomorrow we would be flooded with other currencies chasing the best return, but the interest paid to the depositors has to come from somewhere. Our interest rates are low primarily because the mining boom is over and commodity prices have all but collapsed.

You can't blame Joe Hockey for that, but the fiscal problems we have now are partly caused by Wayne Swan (an effwit of the highest order), Kevin Rudd and Julia Gillard who put everything on credit card for the next generation to pay.

alisoncc 16th Mar 2015 05:10


You can't blame Joe Hockey for that, but the fiscal problems we have now are partly caused by Wayne Swan (an effwit of the highest order), Kevin Rudd and Julia Gillard who put everything on credit card for the next generation to pay.
People were puttng everything on credit back in John Howards day, and for most of his tenure.

PinkusDickus 16th Mar 2015 05:29


People were putting everything on credit back in John Howards day, and for most of his tenure.
Yes, in that time the economy was strong and the budget was in surplus under the leadership of Howard and Costello. The nation and the people could afford to use credit cards back then.

Clare Prop 16th Mar 2015 07:17

What rates the Reserve bank set and what the retails banks and other lenders offer their customers are two completely different things!

The banks gave all kinds of reasons not to pass Reserve bank rate cuts on in full to lenders, but the main reason was the greed of them and their shareholders...of course a lot of the shareholders actually being Mr and Mrs Average Australian's compulsory superannuation.

Same guy who started the whole superannuation rort also decided to privatise the Commonwealth Bank. (As well as Qantas and the Federal airports) I blame much of Australia's financial issues at the door of Mr Keating and his simpering sycophant, Swan.

chuboy 16th Mar 2015 08:19


Originally Posted by PinkusDickus (Post 8903349)
The nation and the people could afford to use credit cards back then.

They never thought about whether it was sustainable. In that sense they are no better than Swannie and Rudd.

alisoncc 16th Mar 2015 13:22

Australian households awash with debt: Barclays
 
Australian households awash with debt: Barclays

I suspect the response will be "It's Fairfax, what would you expect", and "its definitely the previous governments fault".

Clare Prop 16th Mar 2015 16:44

I'd say it was the responsibility of the householders.. Why do they include small business debt in household debt though?

rh200 16th Mar 2015 20:54

Household debts been rising for years. Its a result of several reasons, the main being systematic spending levels beyond ones means.

This in itself is a result of how we as a society have become self obsessed pieces of sh!t worried about ourselves and what materialistic [email protected] we can get.

And don't give me the Oh I'm poor line, the vast majority of excess spending is on [email protected] We have lost our self control, and its further exasperated by advertising.

MTOW 16th Mar 2015 22:51

Slight change of topic: the NSW State election has brought up an interesting development, with a little known (and even more interestingly named) Party gaining the top position on the Upper House voting slip. The No Land Tax Party, led by a Mr Jones, who has an 'interesting' past, even by the hard to get under standards of NSW politics, has fielded candidates in 93 Lower House electorates as well as the Upper House (where Mr Jones holds the #1 position on its ticket). Mr Jones has been banned from holding a board position in any licenced club in NSW for 3 years after his involvement in some very questionable activities in the Calabrian Club in Sydney.

They are advertising for workers to hand out how to vote cards on election day at a modest $30 an hour - but are offering bonusus of $200 if their candidate gets 10% of the vote at an individual worker's booth and $500 if their candidate gets 20% of the vote. They have also admitted to dealing with Glenn Drury, the so-called 'preference whisperer', who, by some very clever jiggling of preferences, oversaw Ricky Muir get a Senate seat at the last federal election in WA with something like .05% of the primary vote.

Fielding 93 Lower House candidates and a full team for the Upper House involves big money, and questions are being asked just who these people are, with the name Tripodi surfacing. Scoring the top slot on the voting slip, and having such a catchy name as 'The No Land Tax Party' almost assures this mob - whoever they are - of getting a sizeable donkey vote, perhaps even enough to get Mr Jones and who knows how many of his Party members into Upper House seats.

Maybe we're closer to being that Banana Republic Paul Keating told us we were at risk of becoming than many realise.

alisoncc 16th Mar 2015 22:51

In the interests of maintaining the "economy", successive governments have had no issues with their citizens "spending on things they don't need with money they don't have". They have even gone to great lengths to support it.

Surely there must have been some recognition that at some point in time the piper must be paid. One positive from Rudd was that he gave money to pensioners to spend, whereas Howard and Abbott have just made it easier to borrow. I shudder at the prospect for future years. When the oil-rich Arabs and corrupt Chinese billionaires decide they want their money back things could get interesting.

Captain Sand Dune 16th Mar 2015 23:06

No Cookies | dailytelegraph.com.au
Interesting article, if a little unhealthy for one’s blood pressure! I love the bleating about how hard it is to make ends meet, however I bet they can find money for tatts, booze and cigarettes. I reckon it would be fair to say that most people know someone who is rorting welfare. I have a sister in law who has never worked in her life and has four children form three partners.
In my opinion both sides of politics share blame for Australia’s welfare dependency and are well aware of how much it is costing us (about 45% of budgetary expenditure, I believe) and what needs to be done to fix it. However given Australia’s love of welfare, no party will win government with welfare restraint as part of their platform.

Clare Prop 17th Mar 2015 01:10

I know a guy who is in perfect health and is a drummer so obviously all limbs fully functioning, who is always bragging how he is on the DSP for life and will never have to work for a living. :mad: the band recently broke up due to his worsening drug habit.

Stanwell 17th Mar 2015 01:31

Oh, top post, Clare.
Get in touch with the Telegraph straight away - they pay for news tips, you know..
Meanwhile... :rolleyes:

PinkusDickus 17th Mar 2015 01:51


In my opinion both sides of politics share blame for Australia’s welfare dependency and are well aware of how much it is costing us (about 45% of budgetary expenditure, I believe) and what needs to be done to fix it. However given Australia’s love of welfare, no party will win government with welfare restraint as part of their platform.
Exactly right but there is a fine distinction between the parties. The ALP trumpet they are the saviours of the "working class" and depend on welfare recipients for electoral support, and whether they are in goverment or opposition, they will always have that support.

The LNP are in a bind because they are punished if they make any move against welfare but it's not in their DNA to have the current level of welfare continue.

Unfortunately, there is an underclass of able bodied welfare recipients who have not and never will contribute back to society what they have been gifted by hard working taxpayers.

Now, if only taxpayers were entitled to a vote, it would be a whole new ball game.

Stanwell 17th Mar 2015 02:06

You may have a point there, Pinkus.
You might remember a chap called Kerry Packer.
He boasted on more than one occasion that he paid no tax.

But, do you think he would've worried about the lack of a vote?
There are plenty of people out there like him.

It's the mugs on PAYE that are carrying the unfair share of the burden.

bosnich71 17th Mar 2015 03:43

Stan ... yup, good old Kerry, the bloke who was in a TV advert for something or other, standing in front of a backdrop of Sydney harbour and intoning about his great love for Australia ...... not enough to pay taxes though !

Pinky the pilot 17th Mar 2015 04:06


You might remember a chap called Kerry Packer.
He boasted on more than one occasion that he paid no tax.
You sure about that?:confused:

I can remember his now somewhat famous quote about minimising his tax... 'and if you don't minimise your tax then you need your head read...':ooh:

But I cannot ever remember him saying that he paid no tax whatsoever.


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