Links 14 February 2018

Global Macro / Markets / Investing:






  1. P auline H anson puts out call for next generation of One N ation candidates auline-h anson-puts-out-call-for-next-generation-of-one-n ation-candidates-20180213-h0vzwe
    “The carnage caused by the rolling dual citizenship saga has left P auline H anson’s One N ation the most powerful crossbench party in the Senate, with the ability to block contentious legislation with its numbers and influence set to grow.”

  2. I read that Conversation article before midnight because I typed into Google News “universal basic income”.

    Aussies have not been asked “would you like a $900 cheque each month” so we do not know if Aussie voters would be against it. But Alaskans love their UBI and polling says most Britons want UBI. So I doubt Aussies would say “nah, I do not want a $900 cheque again – I got one from Rudd and hated it”.

    A lot of well-meaning comments under the article say “job guarantee instead”. A job guarantee is a pipe dream and 457 visa staff on illegal wages will be hired to lay the pipes!

    • My 4 year old daughter wants an unlimited supply of princess dresses and ice cream but we are trying to teach her self-discipline, delaying gratification and self-sufficiency.

      • You are telling her to leave some ice cream for other kids? Nice.

        You are not teaching her self-sufficiency – child labour is illegal. You are giving her food, shelter, electricity.

        UBI = taking some ice cream from the rich and giving it to the homeless.

        When are you going to pay to be a member of this website?

    • UK Govt deficit already 18.2 Billion Pounds. Current account deficit is about 80 odd Billion pounds. Now any increase in the deficit will go pretty much straight into the CAD. How is it to be financed So actual NUMBERS please rather than fairies at the bottom of the garden like that lying prick Corbyn.
      In my younger days the PNG natives were made fun of because they believed LBJ was going to fly over and drop goodies out of a plane for them. It was known as the Cargo Cult. The Cargo Cult fantasy has nothing on this stuff!

    • You NEVER give any numbers. Let’s suppose we deal with just the fiscal side. What you propose gives 24 pounds a week UBI = you bloody bewdy!!! All problems solved.!!!! This aside from the fact it still leaves all the debt producing structure in place.
      This totally ignores where the money goes once you do give it out., Company tax cuts would not go into the external account at the same rate as putting money in the hands of the public. A fait proportion of it might get invested.
      So even if you could balance up the money the effects on the economy are entirely different.
      Note I’m not saying I am in favour of company tax cuts. To balance the Anglo economies we need to make savings everywhere. – Govt. Business, Consumers.

      Please just stop mindlessly shouting this UBI stuff without some numbers to actually make sense of what you are saying.

      • flawse, how to pay for it:

        How are the 12 submarines funded. How is the infrastructure necessitated by mass low-wage immigration funded. How is the carbon tax cut funded. How are the income tax cuts to the minority that has an income over $80k funded.

        The right wing pricks tried to raise the GST without putting in UBI. They tried to have a GP tax without UBI. They refuse to tax immigration and LNG. NSW is raising land tax on foreigners.

        Work for the dole costs the federal budget money and injures heaps of people – which then adds to the Medicare budget. While the fake left wing is busy giving the jobs to 457 visa staff anyway.

        Right wing pricks get very angry at UBI proposals along with Chris Bowen’s negative gearing proposal. They hate the luxury car tax too! But they do love saying “work or die” and “Aussies should work for $10/hour in order to make AUS more competitive but no way should land prices be cut”.

      • You did not read past the first few word I wrote did you? You are not even addressing the core argument in any way. You just float around sprinkling, alternately, fairy dust and bitterness. Please READ: try to understand; do some real numbers and get back to me. Otherwise please stop wasting all our time.

  3. We have so many second rate, corrupted politicians in Australia. Only a revised political system can save us from being invaded, serfs and slaves in our own land.

    • We need the political parties to be entirely taxpayer-funded. drSmithy said “how would brand new political parties get a foot in the door”.

      Well, the issue with democracy is not a lack of brand new political parties – there are plenty of brand new parties – but the fact that the ALP is funded by rich pricks. And therefore, they are beholden to the rich pricks. The Greens might be funded by bicycle shops and deceased estates but if they were funded by the taxpayer – they could make laws without thinking about the profits of bicycle shops.

      • Relevant StakeholderMEMBER

        Big Lycra is undermining democracy!

        I have to admit that you have a certain panache Jacob😄

      • Maybe we don’t need political parties at all.
        They seem to be the seat of corruption and folly.
        Pick the number of needed Representatives from the Electoral roll for a
        fixed term.
        I doubt we would be any worse served than we are by the prresent system.

      • We need the political parties to be entirely taxpayer-funded. drSmithy said “how would brand new political parties get a foot in the door”.

        A question that remains unanswered.

        The Greens might be funded by bicycle shops and deceased estates but if they were funded by the taxpayer – they could make laws without thinking about the profits of bicycle shops.

        I think you’re missing the point of representatives.

    • It would be good if we could hold dual citizenship whilst doing it. A lot of young Aussies would have a problem renouncing their second passport to a 1st-world EU country. Ironically for recent migrants renouncing their third world passports would be no problem!

  4. NEW ZEALAND: Fletcher Building losses mount, chairman to resign … Stuff / Fairfax NZ

    Fletcher Building’s losses from its troubled Building and Interiors (B&I) division have increased by $486 million to a total expected loss of $660m in the current financial year.

    The company made the announcement on Wednesday morning.

    It also said chairman Sir Ralph Norris would step down and that shareholders would not receive an interim dividend. … read more via hyperlink above …

  5. Will the reduction in transfer time between banks increase GDP?
    Instead of money sitting on the sidelines for three days it has the potential to transact again within the same time period.

  6. The cost of residential land in Australia is going through the roof | Business Insider

    Vacant residential land prices are soaring in Australia, creating a mammoth headache for the nation’s housing housing affordability crisis.

    According to latest HIA-CoreLogic Residential Land Report, the median vacant residential lot price surged by 6.5% in the September quarter of last year, hitting $267,368, up 10.9% on a year earlier.

    Median prices in capital cities jumped by 7.8% during the quarter, far outpacing growth of 2.7% in regional areas.

    Over the year, capital city prices ballooned to a record high of $313,74, up 12.8% over the year. … read more via hyperlink above …

    Land prices hit record high amid supply shortfall across the country … news com au

    Demographia In The News