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Entries Categorised as 'Opinion'

The national broadband debacle: all hail to Senator Conroy.

February 17th, 2009 · 23 Comments

Lost within the turmoil of the $42 billion federal government spend-a-thon and the so called “national economic crisis” has been the issue of the infamous “National Broadband Network”. After ridiculing the Howard government for taking too long to initiate work on this network, all Senator Conroy has managed to do is set things back a few years and we are still effectively nowhere near seeing work start on on this important national infrastructure project.

Rudd’s $42 billion dollars: the mother of all blunders.

February 6th, 2009 · 23 Comments

Let’s get one thing clear from the start, attempting to rush a massive spending package through parliament with the minimum amount of scrutiny is not good economic management. It simply means that the people charged with managing our national economy have been caught unprepared and for that single fact alone, they should be held accountable.

Rudd’s new direction: Bad news for investors.

February 1st, 2009 · 5 Comments

Kevin Rudd was elected largely because he conveyed an image to the Australian public of a man who would keep Australia on a steady course. His 2007 election campaign was all about convincing the public that he would follow most of the policies put in place during the Howard years but govern in a “nicer” way that would keep the trendy “cafe latte” types happy. However as the current economic crisis drags on, I sense that Kevin 09 might not be anything like the “lovable” Kevin 07.

Australia 2020 Summit: Fiddling while Rome burns.

January 24th, 2009 · 6 Comments

Does anyone remember Rudd’s great talk fest in April 2008 grandly called the Australia 2020 Summit? Did anyone get excited about the contents of the final report, complete with lovely graphics and pictures? Was there some careful analysis and discussion of the ideas raised during the Summit in the mainstream media?

Be prepared for the recession we might have avoided.

December 11th, 2008 · 5 Comments

Although Kevin Rudd stated some weeks ago that Australia would not slide into a recession it seems another one of his forecasts has exposed just what an economic dunce he is. Possibly only Wayne Swan can make worse assessments regarding the state of the Australian economy with Glen “I raised rates too far” Stevens (the Reserve Bank Governor) finishing of a trio of people who are best ignored. As I wrote a while back…we would be better served by getting a hobbit and wizard into the government economic team as soon as possible. (see The RBA,Swan and a Hobbit)

The U.S. auto industry bailout and some inconvenient truths.

December 8th, 2008 · 4 Comments

There is no doubt that the U.S. auto industry will receive some form of government assistance, however the real story is not the about the bailout itself, but rather what the bailout tells us about the U.S. economy in general. After all, how can U.S. car makers be struggling so badly when they are sitting in the middle of biggest market in the world for auto-mobiles?

A stock market rout and probable recession: it could be worse.

December 5th, 2008 · No Comments

There is not a lot of good economic news in circulation at the moment. Today for example I read that the Dubai real estate market is heading for a big fall, and so it seems one of the last pockets economic optimism is about to get that gloomy feeling. I guess this might mean the end of man made islands shaped like continents, so perhaps it is not all bad news.

Economic Groupthink: a dangerous trend.

November 28th, 2008 · No Comments

One of the worrying trends that has emerged in Australia during 2008 is the way the government has created an atmosphere that is conducive to groupthink (group think) behaviour. Views that are not aligned with “Rudd’s World” are attacked as reckless or irresponsible by the government, and the mainstream media appear willing to slap down any dissenting opinions.

Why the global economy will recover.

November 27th, 2008 · No Comments

It is hard to remain optimistic at the moment and the attention grabbing headlines churned out by the media do not help people sleep at night. I have lost count how many times I have seen the current economic mess compared to the Great Depression or labelled “The biggest economic crisis in our lifetimes”. (I guess you need to factor in how old you are for that tag to work) The fact is we are in a very nasty economic correction but eventually things will settle down and the global economy will do as it has done for hundreds of years…..grow.

Politicians: we get what we deserve.

November 23rd, 2008 · No Comments

There is nothing like a global crisis to showcase the shortcomings of elected representatives all around the world. In the U.S. we have seen lawmakers grilling bankers for a crisis that was largely caused by the actions of Congress and the Clinton Administration whereas in Australia we have seen the government make a number of economic blunders.

The car industry, six billion dollars and another blunder.

November 12th, 2008 · No Comments

Well done Kevin Rudd, just weeks after causing chaos in the financial markets with his bank deposit guarantee, he has been able to pull another blunder out of his magic hat and found a way to potentially waste six billion dollars of Australian taxpayers money. Let’s be totally clear from the start here, the bailout package for the Australian car manufacturing sector is a political stunt aimed at shoring up support with the unions and Australians who seem to think we have a car manufacturing industry.

Government economic blunders of 2008. (so far)

October 28th, 2008 · No Comments

When we look back at the economic crisis this year, (and I am hoping at some point we are looking backwards) any reasonable appraisal of how events unfolded should include a scathing attack on the economic blunders made by the Australian government and in particular by the Prime Minister Kevin Rudd and the Treasurer, Wayne Swan.

The Reserve Bank, Rudd, Swan and a Hobbit.

October 16th, 2008 · No Comments

As readers of this blog will know, I am not a great fan of the actions of the RBA (Reserve Bank of Australia) or the current government when it comes to dealing with the events of this year. First of all we had the RBA raise rates too far (as I mentioned earlier this year) and then we had Rudd and Swan talking down the economy, then talking it up and now they are talking it down sort of, while about to pump money into it to stop growth from slowing.

The Cold War is over…right?

August 17th, 2008 · No Comments

According to the prevailing wisdom, the Cold War between the Soviet Union and the West was suppose to have ended in the 1990’s, but it appears the U.S misses the excitement and is trying to stir things up again. You would think a global war on terror would keep the Americans occupied and that keeping as many countries as possible on friendly terms would be the smart thing to do.

The Olympics: are they a waste of resources?

August 12th, 2008 · No Comments

I do enjoy watching the Olympics from time to time, but I cannot help but think of all the money and resources that are needed to host the games in the modern era and question if these should have been directed elsewhere.

Does Japan have a population problem?

July 28th, 2008 · 4 Comments

Often one of the major problems facing Japan is said to be that is has a declining population. All sorts of scary statistics are used to paint an almost doomsday scenario where at some point there will be few young people left, the country will be composed mainly by the elderly and the economy will collapse.

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