On budget night Wayne Swan could have saved us all a lot of time by simply standing up and saying that his plan for the Australian economy was to simply sit back and hope the mining boom continued. As I have said for over a year now, Australian policy makers have set the economy up for a severe downturn if commodities prices slump and there is no Plan B.
Entries Categorised as 'Opinion'
May 16th, 2011 · 6 Comments
May 7th, 2011 · 13 Comments
For a while I have resisted writing about the political situation in Australia simply because it is too depressing. Of all the possible political outcomes after the election last year it looks like the Australian people have ended up with the worst case scenario – a leaderless dysfunctional government adrift at a time when major ecomic challenges loom.
March 14th, 2011 · 12 Comments
Lives for all us living in Japan changed from the moment the first terrifying earthquake hit off the North East coast of Japan on Friday 11th March. We all live near fault lines and most of us live near the coast as well, therefore as the images of the disaster were shown on television I was simply lost for words – unable to process what I was seeing.
February 27th, 2011 · 33 Comments
The recent announcement by Julia Gillard that she is breaking an election promise and will attempt to bring in a Carbon Tax should come as no surprise to anyone. It is simply a reflection of the madness that is the Greens/Labor Party alliance and another example of a policy developed by a Government hooked on spending and raising taxation.
January 27th, 2011 · 10 Comments
The devastating floods across much of Australia should remind people that Australia has been for a long time, a land of drought and flooding rains. The floods have tragically not only taken lives, but will also have a lasting negative impact on the economy and sadly the Government seems intent on using the floods as an excuse for it’s own poor management of the economy.
January 18th, 2011 · 4 Comments
First a few personal facts. My involvement with China goes back to the early sixties as a diplomat in Hongkong where I was learning Mandarin. For a while I served as China desk officer in Canberra’s foreign affairs ministry. Then during Cultural Revolution days I finally got to China, by organizing an Australian pingpong team (over Canberra’s opposition).
December 3rd, 2010 · 2 Comments
North Korea bombards the South Korean held island of Yeonpyeong in the Yellow Sea, killing and wounding a number of people there. The hawks call for the strongest possible response. The pundits warn of another Korean War.
November 2nd, 2010 · 18 Comments
I have been a vocal critic of the National Broadband Network for a long time and was talking about what a mess it would be way before the mainstream media woke up. So to further illustrate my point I have put together a list of areas or ways where I believe the taxpayers $43 billion could be better spent and deliver better outcomes for the Australian people.
October 23rd, 2010 · 43 Comments
Over the last few weeks most of the financial media have once again managed to draw the wrong conclusions on a range of issues from Australian dollar to the strength of the Australian economy. Talk of the so called two speed economy seems to be back in vogue whereas I believe we should be focused on and worried by, the unbalanced nature of the Australian economy.
September 16th, 2010 · 36 Comments
Well after a few weeks of uncertainty following the federal election in Australia, the Australian Labor Party (ALP) has managed to pull together a ragged alliance and hold onto power. Some people say that a minority government will be a refreshing change and can work well, but I believe that the coalition that Julia Gillard has put together will result in few tough decisions being made and could end up damaging the Australian economy.
August 27th, 2010 · 32 Comments
Well the Dow Jones closed this morning below 10,000 and for those financial writers who focus more on grabbing reader’s attention rather than on facts, that can only mean one thing: the U.S economy is heading for a double dip recession! Of course the fact that the U.S economy is actually expanding, as are other major economies like China, Japan and Germany, appears irrelevant to many market commentators who seem intent on making investors fear that another economic crisis is at hand.
August 17th, 2010 · 32 Comments
Thankfully one of the least productive uses of resources on a national scale, a federal election, will soon be over. As usual the government of the day amazingly comes up with a whole range of great ideas that it failed to come up with during the previous 3 years and the crowd trying to gain power, attempt to convince us that they could do better.
July 6th, 2010 · 3 Comments
As readers of this blog will know, I believe that the G20 leaders meetings are generally a waste of time and fossil fuels. After each meeting all we ever get is some vague declaration that basically says all the G20 leaders are wonderful with the mainstream media simply rehashing press releases and happy to go along for the ride. The latest G20 gathering in Toronto, Canada, was no different except that more police cars were set alight.
June 7th, 2010 · 98 Comments
Quite clearly the debate regarding the Resources Super Profits Tax (RSPT) in Australia and abroad has not died down. Despite what the Government would like people to believe, it is not just the foreign mining companies that are opposed to this new tax, but also small Australian mining companies, business owners and the public in general.
May 27th, 2010 · 11 Comments
In Brazil they tell the story of the small-town TV crime reporter who gained fame and scoops by arranging crimes himself. He could then rush out and interview the victims well before rivals. But eventually his scoops caught up with him and he ended up in jail.
May 17th, 2010 · 39 Comments
Now that the major stock markets around the world are falling the Australian media have become obsessed with the concept of a “two speed economy”. I am not sure who first started using this term, maybe it was the gurus at the Treasury or the Reserve Bank, but in my view there is no such thing as a two speed economy. The situation we have now is that the economy has simply been mismanaged.