I have not focused on the Australian political landscape for a few months but the recent tragic deaths of 4 people installing home insulation as part of the Rudd Governments spend-a-thon, has reminded me of the dangers of a government obsessed with poll numbers and popularity.
Entries Categorised as 'Opinion'
Why the Ken Henry taxation review will achieve little.
January 26th, 2010 · 14 Comments
For some time now investors and the public in general have been drip fed details of what might or might not be included in grand sounding “Australia’s Future Tax System Review”. Now that the report has been handed over to Wayne Swan and the Government it might be tempting for us to think that we will see sweeping changes to Australia’s tax system, but I am here to tell you that little will happen and here’s why.
Climate change fakes & fakers: the mindless mob.
January 15th, 2010 · 9 Comments
Over the past year or so those who have questioned the science behind Anthropogenic (human-induced) Global Warming have been subjected to ridicule and harassment especially by dim witted journalists and politicians. But the real villains in the global warming story are those who preach climate change, but do little to rescue their own carbon footprint. Why are these people not held up to ridicule I wonder?
Farewell 2009, goodbye GFC and a Happy New Year to all!
December 31st, 2009 · 2 Comments
Well 2009 is almost over and although stock market investors did it tough in the first quarter, overall the ASX All Ordinaries and S&P/ASX 200 posted healthy gains of around 30%. This means stocks & shares were in fact a good place to have your money over the last 12 months.
The madness of King Malcolm and the Emissions Trading Scheme.
November 27th, 2009 · 15 Comments
From the moment the Emissions Trading Scheme (ETS) concept was floated I had an uneasy feeling about it and unlike a lot of recent anti-ETS converts, I have voiced my opposition to this legislation for many, many months. Simply put, I don’t see the logic in trying to help the planet with a tax.
GDP growth does not equal a quality Australian economy.
November 3rd, 2009 · 7 Comments
It would be easy to get the impression by listening to the Government, the Reserve Bank, the Treasury, financial journalists and many economists that it is undeniably good if Australia’s Gross Domestic Product (GDP) expands, but is that entirely correct? Is there such as thing as bad GDP growth?
The forgotten economic giant: The European Union.
November 1st, 2009 · 3 Comments
In the frenzy to churn out China growth stories most financial and business journalists in Australia appear to live in a world where the European Union either no longer exists or does not matter. I must admit I also do not pay enough attention to European economic data, so today I will have a quick look at the European Union and outline why I believe we should all pay more attention to developments on the other side of the planet.
Ken Henry and his tax review: should we be worried?
October 6th, 2009 · 136 Comments
Back in May 2008, when times were good and the inflation genie was free, the Government announced that a review of Australia’s tax system would be undertaken. But that was before the global financial crisis struck and a lot has changed since then, so should we be worried about what recommendations the review panel will make?
A G-20 love-in, world leaders on parade and spoonfed journalists
September 26th, 2009 · 17 Comments
Thank goodness for the G-20 meetings, they are 2.5 time more exciting than the G-8 ones and they require more people to jet around pumping lots more Co2 into the atmosphere. After the latest lovefest in Pittsburgh it seems the global economy has been saved, the world is united in fighting global warming and Elvis was found serving drinks at one of the cocktail parties.
LNG billions: is Australia getting a good deal from the Gorgon Project?
September 14th, 2009 · 20 Comments
Recently there has been a lot of joyous reporting about the massive Gorgon Project and the expected boost that the Australian economy will get from multi-billion dollar LNG export contracts. However is Australia really getting a good deal for it’s LNG and as a nation, are are we tapping into all the benefits we should be getting from this massive project?
The importance of being earnest, greed and investing.
September 2nd, 2009 · 14 Comments
Whenever there is trouble in the financial markets or stocks tumble, those who occupy the high moral ground for a living start to lecture the rest of us about greed and the dangers that the pursuit of wealth can lead to. The irony is that many of the people who bombard us with such lectures are in fact themselves quite wealthy, yet they curiously appear to believe that they have not been greedy while they amassed their fortunes.
Will Glenn Stevens and the RBA ever admit they make mistakes?
August 18th, 2009 · 8 Comments
Recently Glenn Stevens of the Reserve Bank of Australia (RBA) appears to be taking credit for everything from the robust nature of the Australian economy to the mining boom. What he seems to have forgotten or is not willing to admit, is that the RBA has made a number of forecasts over the last couple of years that have been very wrong and probably raised interest rates too high in 2008.
When in a recession be careful what you believe.
August 13th, 2009 · No Comments
Recessions are not only bad for an economy but they are also appear to create an environment where some of the worst financial reporting and commentary thrives. Suddenly journalists actually start to believe they know how the recession will unfold and many self titled market experts toss up the most bizarre predictions that cover everything from the end of the global financial system, to cunning plans being secretly developed by bankers to control the world.
Are climate change and global warming dangerous distractions?
July 15th, 2009 · 87 Comments
If you are to believe politicians and movie stars, then planet earth is warming up and it is all our fault. However the real “inconvenient truth” is that all within the scientific community do not all agree that global warming is caused by human activity, and many climate scientists suggest argue the planet is not heating up at all. So is there a danger we are focusing on the wrong threat?
Is there a Federal Opposition in Australia?
June 29th, 2009 · 17 Comments
We all know the theory of how our Westminster flavoured form of democracy is suppose to work. We the people vote, the votes are counted and we end up with one of the two main political groups running the country. To make sure the group that wins the election and forms government does not get out of control, the losing side is suppose to keep an eye on things and be ready to take over if the people decide to make a change at the next election. But clearly things are not working that way in Australia at the moment.
Wasteful spending, poor planning and extreme socialism.
June 14th, 2009 · 39 Comments
For some time I have been saying that the Government’s economic stimulus spending spree will be wasteful, poorly directed and do little to make Australia a more competitive economy. If this is not bad enough the chances are the reckless spending by the Rudd Government may also stir inflation again and cause more problems for the Australian economy than the global financial crisis ever did.
