Kenneth Hayne sure doesn’t like Josh Recessionberg

And why would he? Via Domain:

In his first public statement since handing down the findings of the financial services probe in February, Justice Hayne contrasted the independent and transparent nature of royal commissions against the “opaque” and “skewed” decisions of politicians influenced by those “powerful enough to lobby governments behind closed doors”.

“The increasingly frequent calls for royal commissions in this country cannot, and should not, be dismissed as some passing fad or fashion,” he said.

“Notice how many recent inquiries relate to difficult issues of public policy: how can we, how should we, look after the aged? How can we, how should we, respond to mental health?

“We need to grapple closely with what these calls are telling us about the state of our democratic institutions.

“Trust in all sorts of institutions, governmental and private, has been damaged or destroyed.”

Alas, yes. When we began MB in 2011, there was still some policy integrity. We have been shocked beyond shock ever since at the decline and fall therein.

That this has been largely a period of LNP Governments is probably not coincidental. That party has been swept away in a tide of ideological lunacy that can best be described as an outright scab grab for public funds.

Labor is not blameless. It began the rot with the post-GFC bailouts, mining and carbon tax disasters and invention of the “Big Australia” concept. But the Coalition has taken all four to such extremes that the notion of “public good” or even “national interest” is today meaningless.

Then there is poor old Josh Recessionberg, who could smile under wet cement and explain how 1+1=7 without breaking stride, and whose crowning achievement is a singular determination is to undo Kenneth Hayne’s good work by restoring mortgage fraud to re-inflate the property bubble:

It’s no wonder Kenneth Hayne doesn’t like the bloke.

Comments

  1. Hill Billy 55MEMBER

    Fortunately we have our great and munificent friend over the big ditch doing all in his power to negate the ineptitude of our lovable lunatic Josh. It would appear that there are many sensible bods who are not leaping into the bull trap that is the property market of Australia.

  2. Mining BoganMEMBER

    That nice Mr Hayne can expect a visit from the AFP persuaders. Something about secrecy and loyalty will do.

    • why people like him don’t create new political parties and run for office??? We only have complete 1d1ots like the smashed orange popping up to entertain the media and the clueless.

      • They occasionally do, but receive no corporate funding or media attention and fade away into obscurity. The results produced by our electoral system are not an accident, the system is set up to produce those results.

      • david collyerMEMBER

        What! Hayne has contributed more than any pollie, shaped Australia’s laws and culture more as a High Court judge than truckloads of preening ‘lawmakers’. Run for office? He set the rules by interpreting our Constitution. Parliament would be a demotion.

        His visceral distaste for Little Josh is well informed. This isn’t a policy difference or an underperformance opinion – they don’t stop a handshake. Hayne knows the depth of depravity of the L/NP government and Josh’s key role as a Cabinet Minister. They sold our nation for pieces of silver, an unforgivable bargain with the devil.

      • Because News Corp doesn’t like indepence, ethics or morals.

        The greater good only applies to media and mining owners.

  3. H&H – don’t worry about Labour being only slightly less naughty. New leadership is catching up with the Libs.

    Anyway, Scumo will need lot moar fraudulent policies in order to revive the bubble. I think tomorrow we might see return of negative weekly data from Corelogic. Based purely from just observing daily indices but not keeping records and proper calcs.

    • Doing the job that Nikola won’t do…. 🙂

      Both Sydney and Melbourne Corelogic indices flatlined for about 6 weeks after the election then started trending slowly up. Melbourne in a very linear fashion, Sydney in a couple of big jerks.

      Then a couple of weeks ago the increases stopped, peaked and started to slowly fall. There are definite knees in both data sets around late July, with the Melbourne one being particularly noticeable.

      So you’re right…it looks pretty likely that both Sydney and Melbourne will be negative over the week tomorrow. A small rise could keep Sydney marginally in the green, but Melbourne would need quite a large jump to be positive.

      It’s fascinating (ie gut wrenching) stuff, and certainly doesn’t support the MSM “the boom is back” narrative.

      • 😉
        I am going by memory here but I think all 5 cities may spew falls for the week. will be fun to watch if anyone from MSM reports it – if eventuates.

  4. Stewie GriffinMEMBER

    ““Notice how many recent inquiries relate to difficult issues of public policy: how can we, how should we, look after the aged? How can we, how should we, respond to mental health?

    “We need to grapple closely with what these calls are telling us about the state of our democratic institutions.

    ““Trust in all sorts of institutions, governmental and private, has been damaged or destroyed.”

    Wow – Haynes is getting much, much closer to the issue.

    Culture maters – Multiple cultures effectively means you have no culture at all, as people pick and chose the values that really on reinforce their current behaviours.

    As I have used as an example before, take the problem of ageing in society – the solution that we as a society agree upon for the problem of ageing will depend on our cultural values.

    In the West the view evolved that we should pay our aged a pension that will enable them to live a retirement of dignity, because the aged are of society and so are we.

    Confucian based societies push much of the responsibility of caring for the aged onto the children – have no children, then it is your fault you are poor in your old age.

    Hindu and Muslim societies, looking after your parents is the sons responsibility.

    Jewish culture – providing for your retirement is up to the individual or the responsibility of the Jewish community.

    More hunter gather societies might simply solve the problem of ageing by socially compelling the aged to ‘go walk about’.

    See – same problem, yet different cultural values give rise to very different solutions.

    Trust is best enforced by a sense of shame, but in order to create a sense of shame, you need to share common values, and those common values are slowly being dissolved in the Multicultural swamp we are being submerged in.

    The corruption we are seeing isn’t the fault of people of different cultures or ethnicity, it is the simple result of human behavior when placed in a free for all environment, without shared values, trust or a common sense of shame.

    https://www.macrobusiness.com.au/2019/06/australia-war-china/#comment-3366499

    • every comment he made, means our politicians as equal to an average Macedonian, Mexican, Zimbabwean or Chinese politician.

      • Stewie GriffinMEMBER

        Increasingly, within our Multicultural immigration settings, our politicians ARE Macedonian, Mexican, Zimbabwean or Chinese.

      • Stewie GriffinMEMBER

        lol

        https://quillette.com/2019/08/07/the-deadly-boredom-of-a-meaningless-life/

        Anomie: Anomie (/ˈænəˌmi/) is a “condition in which society provides little moral guidance to individuals”.[1] This evolves from conflict of belief systems and causes breakdown of social bonds between an individual and the community

        The crisis in moral leadership in our nation is a result of the break down of cultural values that regulate behaviour. Swamping a society with multiple cultures does not result in a more enlighted, more moral society, but rather acts to dissolve those morals as people descend into Barbarism, not in the sense of throwing spears at each other, but in the sense that they pick and chose values that essentially support their existing behaviours.

        The Quillette article is worth a read.

    • And there is another Australia way : create laws that screw up young so that they provide for the middle class elderly so they can go traveling around the world business/ five star

      • Stewie GriffinMEMBER

        That is a characteristic of a Multicultural society – no one wants to work and sacrifice to help some other cultural group perpetuate their own communities values into the future (ie subsequent generations get ahead) to compete with our own.

        Societies exist so that people with shared, common values, can work together to solve the common shared problems that they have. This is how effective societies solve the basic economic problem of meeting the needs of the people with the resources at hand.

        This is why people generally want to live in their own societies, subject to their own cultural values and use the society that they build and invest in to help perpetuate their own values and culture.

        The consequence of losing control of your national identity and seeing it submerged in competing cultual values, is that your society is no longer able to harness the resources of the economy that they built, in order to assist their society in perpetuating their values into the future.

        The old make a rational choice to starve the young of opportunity – why help other communities, when you can horde your own resources to ensure your kids and kin who share the same values as you, get the best best opportunity in life.

    • Stewie GriffinMEMBER

      … as well as the role that ritual plays in the regulation of social behavior. In the absence of such regulation, he believed, individuals and even whole societies were at risk of falling into a state of anomie, whereby common values and meanings fall by the wayside. The resulting void doesn’t provide people with a sense of freedom, but rather rootlessness and despair.

      https://quillette.com/2019/08/07/the-deadly-boredom-of-a-meaningless-life/

      Anomie: (/ˈænəˌmi/) is a “condition in which society provides little moral guidance to individuals”.[1] This evolves from conflict of belief systems and causes breakdown of social bonds between an individual and the community

      The crisis in moral leadership in our nation is a result of the break down of cultural values that regulate behaviour.

      Swamping a society with multiple cultures does not result in a more enlighted, more moral society, but rather acts to dissolve those morals as people descend into Barbarism, not in the sense of throwing spears at each other, but in the sense that they pick and chose values that essentially support their existing behaviours.

      The Quillette article is worth a read.

      • Have you read Durkheim? He had some good stuff. I’ve never really thought about multiculturalism through a Durkheimian/Social Norms lens, you’ve got my noggin turning. Cheers

      • Stewie GriffinMEMBER

        No – I’d never come across him until this article. I’m doing some reading about him now though, interesting theories that have not only stood the test of time, but seem more relevant today than ever.

        Durkheim believed that these feelings of anomie assert themselves with special force at moments when society is undergoing social, political or economic upheaval—especially if such upheavals result in immediate and severe changes to everyday life.

        Without a doubt the imposition of Multiculturalism would qualify as triggering social, political and economic upheaval.

        Forced Multiculturalism, as we are experiencing, is not only wrong from an economic fairness point of view, in one culture being forced to cross subsidies others, but immoral in that it is helping to contribute to the destruction of the fabric and cohesion of founding host societies right down to an individual level.

        Who knows how many suicides and deaths from despair, have occurred thanks to the deliberate dissolution of our societies dominant culture and the values that help give meaning to our lives.

  5. Complex Carbon Unit

    Apparently 2030 died after receiving centre link robo debt recovery letters, let’s add the mental torment and all to it, sure some ma have done wrong with Centrelink but that’s no justification for punishing the innocent, or pushing it to the point of people commiting suicide …
    You arse hole Mr hockey sir, the day of entitlement is over ! Is it ! ? But not for you Mr entitled and all the rest of you cronies floating on the river of gold !!! .

    • Mark HeydonMEMBER

      I have heard this comment many times but do not know its source, but my suspicion is that most of these deaths will be aged pensioners dying of natural causes, rather than deaths by suicide as a result of robodebt demands, which is kind of implied by many using this statistic.
      (Please don’t read this as in any way condoning the whole robodebt system – I don’t at all condone it, it is evil and flawed and should be stopped.)

      The latest available cause of death data for Australia lists the following numbers for suicide as cause of death for the most recently available 5 years..
      2013 2,608
      2014 2,919
      2015 3,065
      2016 2,826
      2017 3,124

      Now, this doesn’t easily coincide with the robodebt period, and it is possible suicide deaths have gone up 50% per annum, but I doubt it.

  6. The great privatisation of everything against the best interests of the populace at large began long before 2011. Post 2011 is merely then endgame ofa process started long before.

    • yep, it was Labor that started privatisation of the commons in 80s when they joined Reagan in Thatcher to be champions of neoliberalism

    • nexus789MEMBER

      Also started after the Lima Declaration in 75 when the political fools gave up Australian manufacturing. This was the blueprint for the disastrous and destructive policies embracing “Globalisation”

  7. Labor is not blameless. It began the rot with the post-GFC bailouts, mining and carbon tax disasters and invention of the “Big Australia” concept. But the Coalition has taken all four to such extremes that the notion of “public good” or even “national interest” is today meaningless.

    How about all these jumbo subprime mortgages in Sydney (2001-2003) and Perth (2003-2007)

  8. Hayne seems like a good man. I’d like to buy him a beer and I’d certainly vote for him if he stood for parliament as an independent. That picture of him giving that idiot Frydenberg the fish-eye says it all, really.

    • Yes, his cold as ice photo op with all smiles Fraudenberg was great. I respect the guy more than any of our politicians. As much as people loathed Bill Shorten, I actually think he would have been more like Hayne, fair and integrity. Albanese no way… I’m sad Shorten’s gone. I actually think he wanted to do the right thing.

    • I’d love to buy Hayne and Jay Weatherill dinner.

      Imagine them with a few bottles of good red in them – the stories they could tell.

  9. The rot started under Howard, or has everyone forgotten the Australian governments corrupt dealings with Saddam Hussein so as to beat the the UN and US sanctions?

  10. Princess – A Haiku
    ******************
    by haroldus

    Pisces wintertime.
    A bukake princess moans.
    Cold hands on the desk.

  11. Jumping jack flash

    The problem is simple. The problem is that the government no longer has jurisdiction over governance. Nor do they want it.

    After putting the private banks in charge of everything financial, and a token regulator who really had no power, nor was meant to have any power, the government can no longer dictate what can and can’t be done.

    Oh, they can fiddle with this, and reword that, and change something else a tiny bit, but unless we were to change our stance dramatically on the whole idea of “free market capitalism”, then the government simply cannot govern while the private sector is in charge. They have no jurisdiction. We aren’t a command economy! We aren’t a dictatorship!

    And that is why we now need these Royal Commissions into everything.
    The court bestows jurisdiction to the RC, jurisdiction that the government no longer has.

    However, the problem then becomes guessing the terms of the RC to catch the subjects of the RC in the act of their dodginess.

    Add to that the fact that the subjects of RCs often get a say into setting the terms of the RC. Otherwise it just wouldn’t be fair now, would it be.

    And that’s what’s wrong with the system, and yes, the system is broken, but how can it be fixed?
    We’ve kind of painted ourselves into a corner here.