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Entries Categorised as 'Opinion'

Ken Henry and his tax review: should we be worried?

October 6th, 2009 · 165 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 · 26 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 · 97 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 alone and many climate scientists suggest 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 · 46 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.

The Catch-22 recession: send in the clowns!

June 4th, 2009 · 11 Comments

Well Australia has avoided a “technical recession” for now so I guess this means that if you have lost your job or your business is struggling then technically you are actually doing fine. But if we are not in a recession, why are company profits taking a beating, unemployment rising and the stock market still so low?

A large population is not always the road to economic success

May 29th, 2009 · 8 Comments

Many economists appear to believe that if  a nation’s population is growing then this is  good for the  economy as well, especially in developed countries. But in a world where resources will need to be shared amongst a growing number of affluent consumers I believe the opposite is often true.

Rudd Economics 101: When in doubt spend like crazy.

May 20th, 2009 · 34 Comments

It appears that finally the Australian media and by default the wider public are starting to worry about Rudd’s mountain of debt. At first many Australian’s were quite happy to pocket their Government handouts in some crazed belief that is was magic money that would not have to be repaid some day or at least, not by them. But perhaps the latest Federal Budget has finally got people thinking as opposed to living happily in ignorance in the Matrix.

Federal Budget 09: A confusing mix.

May 18th, 2009 · 34 Comments

I guess the word confused would best describe my reaction to the Federal Budget handed down by the Government last week. I was expecting some tough decisions to be made so that Australia could emerge from this recession in fairly good shape, but instead the Budget had no clear direction and it seems the Government is hoping that by throwing money at major infrastructure projects that it can appease the public until China saves the day.

You spin me right round Swanny. (like a record baby)

April 28th, 2009 · 15 Comments

Although hardly qualified for anything to do with number crunching, Wayne Swan has in all fairness become much more confident over the last 18 months in his role as Treasurer.   But sadly he is still hooked on manipulating data and his forecasting skills appear as good as Marie Antoinette’s, who once told her husband that the noise outside the palace was just some party goers who would soon be heading home.

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