Property Council’s ScoMo seizes control of Australia

It has happened. After years of pulling the strings behind the scenes, the property industry now has direct control of the country.

Property Council alumnus Scott Morrison has been elected as new the Prime Minister of Australia.

God help us all.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)

Comments

    • That’s the problem with the crashnik worldview – they never see the potential “saves” coming.

      Hold onto your hats, boys.

      • We’ve had Prop Council in charge of migration, then Treasury as prices boomed. Now in charge of everything.

        You do the maths, mate.

        I know what the high-percentage play is here.

      • What are they going to do, Peach? Increase migration? Allow more illegal offshore purchases? There have been no changes to ng, etc. There was never a cap on things to stop priming the pump. And the bubble isn’t good politics anymore.

      • Yes kodiak, yes.

        And a bubble burst is perceived as much worse politics than continued bubble.

      • No, Peach. No. Property is already advantageous tax wise. Foreign ownership came in unfettered. Teaser loans have already been given out. The genie is out of the bottle.

        Turnbull got turfed because of crush-loading.

      • T-Rol
        The issue here is that you think that domestic policy-makers are driving the bus. You are wrong.
        1. Scummo can open the doors to Chinese speculators and other black money but if the CCP shut the doors at their end the buyers won’t come.
        2. The Fed is in charge of rates — not the RBA. If you’ve worked in finance, you’ll understand that. (Bank-teller doesn’t count, just FYI)
        3. Related to rates and the Fed: quantitative tightening is currently draining $50bn from the financial system every month with the ECB and BoJ reaching the limits of their respective QE programs. Added to this, commercial loan growth in the U.S. has cratered in recent months adding to the downward pressure on money supply growth. Money supply growth is where the action is — albeit it acts with a decent lag. A big accident is coming down the pike and Scummo, Harry and their little mates are powerless.

    • Told you it d be scomo at the end. You thought end to neg gearing and high immigration. Not gonna happen. Pca rules oz and melbourne council a.nd…

    • im quite looking forward to the dynamic duo of both Dutton and Abbott sniping from the sidelines.

      • If Dutton was Abbots man, this ain’t over yet. Tony the wrecking ball has more damage to do!

      • Timmeh spot on. Earlier this week Abbott was asked whether he would contest and his response was “it is not my time”. PM Abbott 2021/22

      • The only time for Abbott is Opposition Leader. He has destroyed 2 Labor governments, his own through incompetence and now his successor’s through malevolence. Destroying governments is the only skill he has so he might as well do it from opposition.

      • You are right Supernova, but I am more concerned with what is coming after the Scummo stage, because as we can well assume, it’s won’t last long in any case. I am grieving about our Country and my children’s futures. Also, It’s Friday, and it’s a good excuse to get on it early 🙂

      • Dutto’s poorly timed move hasn’t earned him any favours… he’ll be lucky to hold his seat.

        Likely Abbott was pulling his strings, but he won’t get back in the top spot either – all anyone will be saying is Rudd-Gillard-Rudd…

  1. GunnamattaMEMBER

    It had to happen. The Real Estate lobby couldnt just have prices slide and there be no political reaction.

    Will Dutto and the nuttercrats handle ScoMo as PM?

    • It’s almost as if random idiots placing bets don’t have any particular insight into politics.

      • Robert, the odds are certainly contradictory. The bookies said “Turnbull will face a leadership challenge” and “Turnbull will be the Liberal leader on election day”. That is after the bookies said “Turnbull will not face a leadership challenge”.

        They said the same thing about Abbott. “Abbott will face a leadership challenge” and “Abbott will be Liberal leader on 2 July 2016”.

  2. Ronin8317MEMBER

    I expect his first announced policy is a revamp of the Federal First Home Buyer Grant. Property prices to the moon!!

  3. A God botherer fellater of the property industry as the PM.

    The scary thing is, it could have been worse.

    Frydenberg will be Treasurer.

  4. TailorTrashMEMBER

    Sound the trumpets ….play a fanfare for the common real estate agent ……we have reached the gates of heaven …….Strayan houses will now be worth 2 million
    …….Reusa’s man is in ………A new low has been reached ……….Oh Dear ….

  5. Scott = Bill , both as compromised as the other. The only difference under Scott we’ll get the ScottBull immigration, and under Bill it’ll be Immigration ++ , and that will happen in 6 months. Then we can all just review the paper trail of the sell out of the country at the expense of those of us who do actually pay the 65 or more percent of the tax revenue. Both give us no hope and it’s no bull …

  6. So by next week, NOM will probably double.
    Or maybe he will stop the slide in property prices by making it mandatory for everyone who attends an auction to place at least one legally binding bid above the vendor’s reserve.

  7. Finally a Prime Minister who understands to his very core that rising housing asset prices and loads of housing debt are the future of this nation.

    Cut teh rates Phil and stop the macroLOL Wayne!

    This baby is going to blow.

  8. This resolved nothing. Ray Hadley and Alan Jones hate Morrison worse than they hate Turnbull. The Sky News crazies will be spewing and their war against Morrison begins now.

    • ErmingtonPlumbingMEMBER

      Its going to be awesome !!!
      I cant wait untill monday morning!!!
      I want gorge on the outrage now !!!
      Im stocking up on the popcorn.

    • Don’t forget that Tony A hates him as well, and probably Dutton. Imaging the hate feasts they’ll have at their beer swilling meetings. Would love to be a fly on the wall. It’s all too crazy to think about.

      • proofreadersMEMBER

        AJ and Hadley will be ropeable that their man did not get up. Uncle Rupert won’t care as he knows who calls the shots in this country – Rupert.

      • The protectors of the “base” thought they had it in the bag. They thought their boy was home and hosed. Hopefully Morrison will learn from Turnbull’s error. The more you appease these people, the more they see it as weakness, the more they come after you.

    • While we’re laughing, spare a serious thought for Arthur Sinodinos. Revealed today he’s got cancer. Come back from sick leave for the vote. Yeah, he’s a spivvy dick, but he’s got young kids.

      • +1 re Arthur S. Cancer is a SOB. Between the beard and weight loss he was unrecognizable next to Turnbull. I was shocked when I saw him, noone deserves that.

    • proofreadersMEMBER

      SoMo and Frydencoal – nominally supporters of Mal’s NEG – so where next on this one, useless as it was?

  9. Great, SCunt seizes the reins of power. Well I guess the good news is that he can’t be popular in Qld, and the spill will have pissed off voters everywhere else in the country, so he’ll probably be out in months.

  10. We have another “Open the gates, and lower the rates” PM.

    The Population Ponzi will be doubled up to meet the various interest groups that feed off the housing market.

    Then next year we get Shorten as PM so that he can also become another “Open the gates and lower the rates” PM, and make further adjustments upwards to the swarming population in our cities. Plus we will get a lot more vibrant volk from Africa under humanitarian programs to improve the safety of our cities and stimulate government expenditure and employ more do-gooders.

    If people want change then they need to vote for Pauline Hanson, otherwise do not complain if our pollies serve us with shieett sandwiches.

  11. When they have to come out from behind the scenes, you know they are desperate and the situation is dire. The end is nigh for the property bubble.

    • Even more so for the Liberal party, especially considering ScoMo actually scored fewer votes in the party room than Turnbull.

  12. bolstroodMEMBER

    tic, tic tic
    the Climate Bomb is ticking down.
    and the libs deliver a realestate clown.

  13. scomo has named some of his cabinet

    minister for education – mr iq
    minister for immigration – liz allen
    minister for culture – reusa

    • The irony is that Israel is an innovative nation – spending more than 4% of GDP on research while Frydencoal cheers on sooty coal power stations.

  14. You got to be farrking kidding. I hope they lose in a landslide, I didn’t like Turnbull but boy I really hate this bloke. This country has really lost the plot

  15. This seems to be a real sideline surprise. Has he ever presented himself as a PM in waiting? Are there any speeches, allusions to big ideas, hopes and dreams for the nation, that we can look to to get an idea of what he has said he’d like to do should this fortuitous day ever arrive?

    • Back when he was immigration minister he was anointed as a future PM. Then he was a bad treasurer, so everyone forgot about that.

      • Has he ever put forward a vision for Australia? He just seems to be a caretaker PM. Not because he is any better or worse than others, just because he hasn’t been publicly selling himself as a PM in waiting.

  16. I am sure that this has all been sorted for good now. The Reactionaries will calm down and put the knives away…

    • Didn’t they say that after the first peace accord in Rwanda? As you suggest, the Party has to rip itself apart first before the knives get put away….

    • Bit like when the Bavarian government stopped the Beer Hall Putsch in its tracks.
      Should end similarly well.

  17. That slime bag piece of sh*t embodies everything that is wrong about Australia.
    The good news is that he will lose the next election badly. The bad news is that will produce an ALP government owned by the Chinese Communist Party.

    • Your dead right, however I am still not so sure of a labor win either. What I think and hope will happen is that rusted on liberal supporters will be so pissed as many like turnbull and will protest vote an independent instead. Labor is not smelling of flowers either and I for one will not vote Labor because I cant stand Shorten, Pliberwhatever, Wong etc. Hopefully independents rule this next Fed election and what a sh!t show that will be!

    • SupernovaMEMBER

      Think the CCP will be too busy saving themselves. Just be careful of “ABC: the most trusted source of news”….(most bias news in the country full of “bird-brains”).

  18. MB has to wear some of the blame for this, as much as the News Corp and Fairfax radio twits for fanning the flames.

    You’ve done as much to stir up discontent as anyone.

    What did you expect the result to be ?

    Careful what you wish for, huh ?

  19. Chris Uhlmann will be happy. His wife is a Labor MP and mass illegal-wage immigration shall continue.

    Andrew Bolt demolished Chris last night on the Bolt Report: “it is rich for Chris to complain that 2GB and some Murdoch journalists have been waging war against Turnbull…when the ABC had been waging war against PM Abbott”. “you were against giving private advice? You give private advice to your wife who is a Labor PM”

  20. I’ve been following MB since 2014 and I will purchase my subscription this weekend. You guy’s provide me with sanity while I’m constantly surrounded by retards.

      • Both. The insight that the guys give is second to none. The comments actually make my day.

      • I’ve actually never felt so hopeless in my life before then I have today with this outcome.

        I’ve come from a broken home, was unskilled and skilled up, but I still get my legs taken away from me. I feel that the odds are just so stacked against me that there is no hope.

      • What bjw said. You’ve got to look at politics and voting like this… some dude has just slapped a big sloppy dog turd onto a bun, handed it to you, now you get to choose whether you’d like it with mustard or ketchup.

        Now smile, and get that down ya!

    • When I feel like that, I always console myself with the thought that there’s no incoming artillery fire today. It’s not a great consolation, but it’s something.

      • The Traveling Wilbur

        That… And a quick one or two at work while no one’s listening.

        Fap, fap, fap…

    • Like if this place is the sound of reason (comments section) may God (not that there is 1 clearly) have mercy on all our souls. Because we really are as a species utterly and entirely doomed. We will end up making ourselves extinct through climate change. I really truly believe it. Greed will get in our way and it will be too late to fix it.

      On the bright side in this massive Universe I’m sure there has and will be other forms of civilisations and I’m sure we’re not the first to wipe ourselves out through selfish, self centred thinking. So there’s always that.

      So long and thanks for all the fish.

  21. Didnt he leave property council in 1995? What would his ties be now? Add some clarity please Macrobusiness

  22. RIP Australia

    Dutton would have been a decent choice to cut immigration.

    Oh well, at least my Aussie assets will be kept up in value, while I bail out of the country and into Eastern Europe. At least leaders there are protecting their nations from foreign hordes.

    • So the factional dynamic is not changed at all. A giant s**t fight for no purpose other than to create even deeper divisions. Bring on the election, the Libs need to be destroyed if we are to see any genuine change in this country.

    • Low-wage Eastern Europeans are against the importation of even-lower-wage Syrians?

      Britons are against the importation of both low-wage Eastern Europeans and ultra-low-wage males from the Subcontinent!

  23. There’s 0% chance of liberal re-election next year, so what realistically is the most amount of damage Scott Morrison can do to inflate the property market?

  24. The Liberals need to split so that all those pencil-necked god-bothering nutsacks on the far right like Abetz can go and circle jerk together and leave the rest of the country in peace. WTF is wrong with that guy anyway, apart from being related to an SS Brigadier General who got a 20 year sentence for war crimes? Not that there’s anything wrong with that, but you only have to listen to him say 3 words to know that he has issues. And his mates are worse.

    • It’s a bizarre case, he is not at all well liked in Tasmania. But his cabal maintain a tight hold on the Tasmanian liberal branches, as such he remains at the top of the Senate ticket.

      • And that pretty much says all that needs to be said about how the people of this country are “represented” by the government. Unelected cabals of faceless men who decide how things will be for the small people.

  25. TailorTrashMEMBER

    Scomo better commission that portrait for the prime ministers gallery fast …..he will be gone before the paint is dry.

  26. SupernovaMEMBER

    Continuum: Scot-Moron continues the selloff of Oz and those (unfree)corporate trade agreements keep flowing with even more powerful ISDS’s thanks to Frydenberg (jewish) who now happens to be Deputy (could have written that script beforehand). Turnbull being the mole he is, will probably remain allowing them supply; or only resign if Morrison’s supply is guaranteed. If Dutton got the top job this “mole” would have immediately resigned…..but Bob Katter had already offered supply…but only to Dutton.
    The mole-Turnbull will ensure the election goes to Shorten whereby the Australian budget and culture will continue to be decimated “everybody welcome comeon down, your preferenced, protected and valued over 6th generation locals”. After the election loss there will be another spill whereby Morrison will be replaced…..maybe with Dutton….but it won’t matter then. The point is the populist revolt has been put down and thats the only thing that matters to them.

  27. reusachtigeMEMBER

    OK, OK… you’ve all been patient… BOOM times ahead in housing, it’s a given!

      • proofreadersMEMBER

        Also, as a gesture of gratitude to ScoMo for keeping up the population ponzi, it might be a wise move for reusa to invite ScoMo to his next relo party, if he hasn’t already had the pleasure of attending one?

  28. Am I the only one not disillusioned here? No, I know I’m not but it seems like it after skimming the comments.

    Sure, Scomo is ex PCA and knows how to pump immigration to lift GDP (very important metric for a Treasurer, regardless of what we think of GDP itself), but this is only part of the picture. The whole post-mining boom economy is built on construction (which depends on immigration as feed-stock) and this is a Treasury-led dynamic that was not going to change regardless of who took the reins.

    That’s only one side of the equation though – the immigration backlash is building, banks appear likely to raise rates regardless of RBA action or jawboning, the RC is still running, wages are dead and so on. HnH summed it up this morning. This sh!t and more is festering and won’t go away.

    As for the bubble, it will deflate regardless of whether it is Scomo or Turnbull or Dutton or your favourite Sky-Daddy holding the reins.

    • Millie Vanillie

      This is the correct take. Irelands prime minister for 3 or 4 terms was taking back handers from developers…

      The reckoning cannot be stopped by policy support

    • LOL. The PHC, including PCA and it’s political puppets had a complete hand in this bubble, it’s only fair they have the reins when it blows up.

    • I’m with you. Putting him in just shows desperation on their part more than anything. People need to remember that the government doesn’t have a magic wand. They are a magician with a bag of tricks, not a wizard.

    • Agreed. It’s not like he is/will be omnipotent…the events of this week should have made that evident to everyone.

    • There is a lot they could try, but at this stage in the cycle I wonder if it would help them or hurt them more to try it. Personally I think it would hurt them more to try prop it up further. The public accepts housing is stupid expensive and many owners want it to fall for their kids sake and trhy are sick to death of immigration led development. I think the jig is up. Just a matter of timelines now.

  29. Matthis Cormann tweet

    My sincere congratulations to Scott Morrison on his election as Leader of the Liberal Party. We must now all unite and move forward together working hard for the Australian people

    🤣

  30. Here’s my take on things. Property is on the nose already and due to fall more. Interest rates need to rise and will, otherwise the dollar will be toast. There are already out of cycle rate rises by the banks with the big end of town to follow soon. This royal commission has exposed the risk to the greater economy that only a those in neck deep knew about. This will cause a recession, one that is long over due and will be devastating for most if not all with big debts. Correcting housing. Before this happens an election will be called, most likely sooner rather than later. Labour will win in a land slide, however this will happen on their watch and they WILL be to blame for it.

    • The simple plans are often the best…
      The Oz economy is caught it a pincer…no way out from what’s coming..

  31. Bring on the annihilation of the LNP.
    ALP in power.
    Australia – you deserve what you voted for.
    Two major parties that don’t know what day it is.
    Shit.

  32. My prediction is more of the same we have experienced from the Turnbull government. Although with a few concessions made to the right wing of the party of course.

    The Australian political class is a lot like that of Ireland’s dominated by career politicians. The response which will occur once the housing market crashes and banks face collapse, will be a massive government bailout with harsh austerity to pay for it. I would not be too surprised if a left wing populist party like Podemos in Spain or Syriza in Greece emerge and perhaps replace the Labor party. Since immigration is going to a non-issue as levels go down to zero and even negative levels since significant numbers of people especially those with citizenship in other countries leave for green pastures.