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[Continuation] Australian Politics II

lionking said:
The Greens are now certifiably crazy and I can never seem them as part of any government.
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I don't bet, but if I did, which I don't, but if I did, I would bet that you're wrong.

The Greens aren't any more crazy about anything than they were five years ago. And their kind of crazy is getting pretty popular right now.

I had a Greens person come to my door a couple of weeks ago. I let them know that they didn't need to convince me, that I'd already be voting for them, and turned down their offer of a lawn sign.
 
lionking said:
Firstly, wages have been remarkably stable given the very low unemployment, and secondly, mortgage holders have been running down savings sharply and I think it is far more likely they will replenish savings rather than spend.
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This is just wishful thinking. You don't know the impact that reducing interest rates would have on inflation any more that I do.

lionking said:
And, while I have supported the RBA’s independence in the past, if they don’t drop rates in December I’ll be looking for leadership from the government.
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If you were willing to trade off interest rates for more inflation then you might have a point. But you are just in denial mode. I suspect that any quick fix "leadership" from the government would just give the opposition fuel for their election campaign.
 
psionl0 said:
This is just wishful thinking. You don't know the impact that reducing interest rates would have on inflation any more that I do.
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I can’t predict the future, but if you think reducing the single biggest household expense is not likely to reduce inflation, you don’t know much about economics. Now tell me, why are other advanced economies (plus NZ) reducing interest rates?
 
lionking said:
I can’t predict the future, but if you think reducing the single biggest household expense is not likely to reduce inflation, you don’t know much about economics.
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If you think that reducing interest rates won't have an upward pressure on housing prices (due to increased demand) then you know nothing about economics.

lionking said:
Now tell me, why are other advanced economies (plus NZ) reducing interest rates?
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I can't speak for other economies. In some cases, their inflation rate is lower than Australia's (eg US) and in other cases, it is probably political expediency.
 
psionl0 said:
If you think that reducing interest rates won't have an upward pressure on housing prices (due to increased demand) then you know nothing about economics.


I can't speak for other economies. In some cases, their inflation rate is lower than Australia's (eg US) and in other cases, it is probably political expediency.
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For goodness sake. Housing prices have next to nothing to do with inflation. It’s the cost of housing. Two completely different things.
 
lionking said:
For goodness sake. Housing prices have next to nothing to do with inflation. It’s the cost of housing. Two completely different things.
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Like I said, you know nothing about economics. I bet you think that rents have nothing to do with housing prices.
 
psionl0 said:
Like I said, you know nothing about economics. I bet you think that rents have nothing to do with housing prices.
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I showed you the basket used to determine inflation. House price is not in the basket.

It doesn’t worry me that you are wrong (this often happens) and the laughter it generates is very satisfying, so keep it up.
 
lionking said:
Again, I did not say that. Stop lying.

Overall a cut in interest rates will reduce the cost of housing. Look up a bit of history.
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Now you are just trying to be slippery. Rent is one of the biggest factors in the cost of housing.

If you weren't blinded to history you would know that every time the government tries to subsidize home purchases in some way, the inevitable result is that the cost of houses rises (but after the election).

Of course, it is not just housing that is affected. Lowering interest rates enables more investors to get into business and compete for resources including labour (increasing their cost).

The risk is that inflation would rise to an unacceptable level and force the RBA to raise interest rates again - maybe even higher than before. Then everybody loses.
 
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psionl0 said:
Now you are just trying to be slippery. Rent is one of the biggest factors in the cost of housing.

If you weren't blinded to history you would know that every time the government tries to subsidize home purchases in some way, the inevitable result is that the cost of houses rises (but after the election).

Of course, it is not just housing that is affected. Lowering interest rates enables more investors to get into business and compete for resources including labour (increasing their cost).

The risk is that inflation would rise to an unacceptable level and force the RBA to raise interest rates again - maybe even higher than before. Then everybody loses.
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So in your stupid fantasy world interest rates will not fall? This must be true according to your ignorant commentary.

And your theory on labour costs rising as a result of interest rates falling is simply laughable.
 
Where is Alan Jones when you need him.

The Star Entertainment Group is chasing hundreds of millions of dollars in extra funding from investors as the embattled casino operator fights the clock to stave off financial collapse.
Discussions with its major investors, such as pokies billionaire Bruce Mathieson, continued deep into Sunday evening ahead of the expected release of Star Entertainment’s annual results on Monday.
A fresh injection of cash into the business would allow Star to secure its ongoing viability after a second probe into the company’s culture found it unsuitable to hold a casino licence.
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Jones was shamelessly shilling for Star Casino when he still had a day job. He was totally corrupt. I wonder how much they paid him.


https://www.smh.com.au/business/com...h-to-fend-off-insolvency-20240831-p5k6uz.html
 
lionking said:
So in your stupid fantasy world interest rates will not fall?
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:eye-poppi

Since you are incapable of following the simplest line of reasoning, the only thing I will add is that RBA Governor Michele Bullock believes that cutting interest rates now would be inflationary and I am going to take her word over yours every day of the week.
 
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Speaking of the Greens, Rattenbury has a real shot at the Chief Minister's job:

Shane Rattenbury says Canberrans are not being served by Labor or Liberal and he wants to fill the void this election

The idea of a Greens politician running a government in Australia seems like a far-fetched notion.

In a country dominated by Labor and Liberal, they play a role as the young sibling vying for a seat at the table.

But the ACT is unique.

In this jurisdiction, the leader of the Greens, Shane Rattenbury, has been in cabinet for 12 years, and holds significant sway.

The 25-seat Legislative Assembly includes 10 Labor members, nine Liberals and an unprecedented six Greens, as of the 2020 election.

That has led to a coalition between Labor and the Greens.

But it has been an at times rocky relationship, and recently, Mr Rattenbury made clear he did not just want to retain a strong standing in the assembly — he wants to take the top job.
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My dad hates him. He calls him "Rattenbag".
 
rjh01 said:
The Labor party are the only party putting up 25 Candidates. The Liberals are only putting up 4 Candidates in Ginninderra. The Greens have 19 Candidates.
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I will be able to get my democracy sausage in either Scullin, the next suburb over, or in Weetangera, the next suburb over. :p
 
Pet peeves in real life.
Certain candidates are hard to find their contact information from their party's website. A couple of parties (DLP and First Nation Party) do not have a website that mentions the election at all.
 
I really need to read up on the independents in this election.

The plethora of independents in recent elections is really a damning critique on the two major parties.
 
On the other hand,

King Charles won’t stand in the way if ‘Australia wants to become a republic’

King Charles has said he will not stand in the way if Australia wishes to replace him as the country’s head of state, it has been reported.

Ahead of his visit later this month, the king is said to be adopting an “anti-confrontational approach” to Australian republican campaigners, the Daily Mail reported.

In response to the Australian Republican Movement’s (ARM) request for a meeting with the monarch, the king’s assistant private secretary is understood to have emphasised his “deep love and affection” for Australia.

Nathan Ross reportedly told the anti-monarchists: “His majesty, as a constitutional monarch, acts on the advice of his ministers and whether Australia becomes a republic is, therefore, a matter for the Australian public to decide.”
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This is the sort of thing that pisses me off. I mean, Charles can’t even send the British armed forces. Yet he’s trying to sound magnanimous. Piss off Charles. I don’t think I could sound the sycophantic press when he’s here.
 
lionking said:
This is the sort of thing that pisses me off. I mean, Charles can’t even send the British armed forces. Yet he’s trying to sound magnanimous. Piss off Charles. I don’t think I could sound the sycophantic press when he’s here.
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The ARM had written to Buckingham Palace. Was Charles supposed to ignore it or give a different response?
 
Hmm...

Now I'm remembering a Neville Shute novel about the British Royal family fleeing to Australia because the UK fell to communism.

(He really had a bee in his bonnet about the evils of socialism IIRC).

Hmm... I think it may have been this one:

https://en.wikipedia.org/wiki/In_the_Wet

The novel was most interesting in it's discussion about plural voting, but did not impress me as a teenager, mainly because the system appeared to be designed so that the wealthy would find it easy to achieve multiple votes.
 
Oh boy! I have an opportunity to rub shoulders with the King!

Public to rub shoulders with the royals

King Charles III and Queen Camilla will visit iconic Sydney and Canberra landmarks while also making time for smaller community events when they land on Australian soil.

Their six-day trip begins in the Harbour City on Friday, October 18 before the monarchs head to Canberra and visit the Australian War Memorial on Monday.

There they will lay a wreath and meet members of the public at midday before moving to Parliament House, according to their public itinerary.
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