Links 21 August 2019

Global Macro / Markets / Investing:






  1. Families feel squeeze as healthcare, education costs outpace inflation – The SMH

    Time to give out the $900 cheques again.

    • I thought healthcare is free
      someone either tricked me that medicare is free or tricked people to buy private health insurance

      • If Medicare weren’t free, the main motive for elderly family reunion migrants to move to Australia would disappear.

      • The Traveling Wilbur

        Medicare is free.

        The healthcare service it provides access to is funded by taxpayers.
        The tax take for those services is not based on usage of those services by specific payers.
        Consequently, Medicare is free under any definition for those who don’t pay taxes. And, for those who utilise Medicare and who do pay tax, it is signficantly discounted in terms of cost of services received and total taxes paid towards those services. I.e. essentially free for most taxpayers too.

        Though the actual question that was originally raised was about whether all health services are actually cost free, or not, to a patient with Medicare access. That got a little lost due to the ‘M’ word.

      • Taxation destroys national currency as its issued as a tax credit at onset, couching the application of taxes as a user pays is more an ideological framing than that of the system itself. Hence the Medicare levee was always a punitive behavioral tax to transition everyone over to private health care and insurance [waves at FIRE sector].

        That private health care and insurance has jacked up prices whilst simultaneously crapifing its portend mission is just par for course – see U.S. example of Heritage care … oops … Obama care – billion down the gurggler just to launch and now service networks are shrinking …

        But then Walker did point out the inability of the private sector to deliver health cares imperative in the 70s, yet some are still ideologically captured contra to all the evidence – whooo boy ….

      • The pills are not free.

        Immediately exclude the rich ($200k/year household) from private school subsidies and use the money to fully subsidise the pills.

      • Jacob in case your just uninformed … you don’t need to tax to fund government revenue unless you want to absolve sovereignty to global investor sediments and then have disputes settled by say an SDI arbitration board.

    • IMO within 30 years (probably within 10 years) all payments will be electronic. A small step away from gubmint directly controlling wage and price inflation. Something to ponder…

    • Government bonds are a hangover from the old gold standard and some argue not unlike the case of slave owners having been payed out on their assets to end slavery. Its just a mechanism for savings [taking liquidity out of the market] and government backed by law security. Under no means does the government fund itself by issuing bonds except as a tool for other economic factors.

  2. The Traveling Wilbur

    I tried touch therapy once. Didn’t really work out well outcome wise for me. Practitioner said she couldn’t really put her finger on why.

    • The thirdway guy that threw open the doors to neoliberalism, a far right wing pro “free market” MPS agenda, is leftie – ?????

      Then some are want to bang on about pill colours … sigh …

      • He was the leader of the Labour party and its most celebrated pm in half a century, you witless marsupial.

        All you lot know how to do is rewrite history. No wonder we are stuck with, ‘but that wasn’t real socialism’ every single time your retarded policies cause the deaths of millions…

      • @T, HECS is privatisation of education, Superannuation is privatisation of pension system, privatisation and deregulation of the banks, FTA with Asia used to suppress wages, etc. These are not Progressive policies.

      • T …

        Its incumbent upon you to buttress your views with more than polemic finger pointing lest you become the punch line to some wonky ideological group think joke. Look its not controversial from a historical perspective that Thirdway or Washington consensus is grounded in MPS Chicago school ideology. In fact the Clinton’s reformed the U.S. democratic party along that ideological perspective, with the only divergence between the Republicans being on certain identity issues E.g. religious views about family, women’s rights, sex, et al, but have marched lock step with the republicans on economic matters with regards to privatization of all social government programs and rolling back worker rights established post FDR.

        Come on Rubin was Bills top economic advisor when wages and productivity diverged, pushed the pro market NAFTA, kicked off the offshoring to China, was ready to do the grand bargain on Medicare and Social Security until Monica, and best of all turbo charged the pay to play political system.

        Every single president since has extenuated on that with ratchet like effect, Bush Jr with ignoring FBI claims about endemic fraud in the mortgage market, privatization of military support to make mates rich, wars and at a total loss when the GFC hit. Only to be replaced by Obama that summarily threw his base under the bus, put sub prime Penny as Sec of commerce, reinstated the same economic advisors that helped trigger the GFC, bailed out the financial elites, pushed Heritage care as his own, his AG said Wall St was a national security asset so no one could be charged with crimes or the market would have a sad, I could go on and on ….

        Now we have Trump who is still beholden to the same financial elite as his predecessors [I know who my base is] who put Larry or all people at his right side, libertarian foxnewbs business talking head [grow the FIRE sector pie bigger- damn the risk – full speed ahead] and seems to favor a more anarcho capitalistic tendencies – creative destruction rings in good times never mind the capital destruction …

        So before you start acusing others of white washing history you might want to show your work out and be prepared to back it up … have a good day.

        PS. “death of millions” … how utterly contemptuous of you considering the machinations of neoliberalism considering the results of social goods if not to mention its effect in second and third world countries, not to mention endless wars …

      • @skip.
        Clear is not something you do well. That was my point.
        Having a big vocabulary, and lots ot time on your hands does not a good communicator make.
        Sometimes you say things that I think are well thought thru. Other times I don’t agree. But, almost always I find your comments turgid and verging on impenetrable to read. And I say that not ashamed of my comprehension skills.
        Just trying to help

      • Mate I function on the bases that people have done their home work and can evaluate the perspective offered, not here to hold hands or teach to a class room, hence the short hand. In the past its mine and others experience that ideologues will engage in rhetoric to be a tax on ones time to encourage disengagement due to ridged dogma aka sophist conjecture elevated to truism by dint of uttering it.

        E.g. Keating was a third way operative and as such a neoliberal proponent of privatize everything EMH, but diverged on some social aspects to his right wing contemporaries.

    • Ms Keating is the daughter of Paul Keating, the former Australian prime minister who gained notoriety in the UK in 1992 when he put his arm around the Queen. The breach of protocol led to him being dubbed the “Lizard of Oz.”

      Jesus. Make us a republic already. Talk about cultural cringe.. We should get rid of this instead of losing your sh!t over multiculturalism.

  3. NEW ZEALAND: Further major political initiatives underway to … belatedly … allowing affordable housing to be built …

    Helping Our Cities Grow Up And Out … Phil Twyford … NZ Government … Scoop News

    A new approach to urban planning designed to allow our cities to make room for growth has today been released by Urban Development Minister Phil Twyford and Environment Minister David Parker.

    “Our cities are failing. Poor quality planning is stopping our cities from growing, driving up the price of land and housing, and is one of the big drivers of the housing crisis,” Phil Twyford said.

    “We need a new approach to planning that allows our cities to grow up, especially in city centres and around transport connections. We also have to allow cities to expand in a way that protects our special heritage areas, the natural environment and highly productive land.

    “When overly restrictive planning creates an artificial scarcity of land, or floor space in the case of density limits, you simply drive up the price of housing and deny people housing options. … read more via hyperlink above …

    Google NZ Search ‘Phil Twyford’

    Google NZ Search ‘David Parker Minister Environment’

    • Then some are befuddled by banning lead in petrol … curiously it correlated with a drop at the time in the crime rate … yet conservatives said it was a factor of their increased incarceration of people due to increased punitive measures in criminal law aka negative reinforcement [not to mention plea deals], which ended up being a investor driven enterprise with all the attendant ethical baggage – go figure on the incentive aspect.

      Now the U.S. is experiencing an epic water “so called natural good” of all things, lead contamination drama due the machinations of the currant short term dominate ideological perspective infecting both political and market views. Lets not even mention the opioid endemic …..

      • if you want to go further down that rabbit hole; super high incarceration rates (mostly of males) causes a change in sex ratios that modifies sexual behavior/partnering in all sorts of negative ways. Family values, indeed.

      • Hard to argue about family values whilst taking the income away to facilitate that so the market has a non distributional vector [GDP] good day for the financial elites and their managers ….