Archive for October, 2010

Black or white or just grey?
October 21, 2010

Joe Hockey’s bizarre comments receive some sort of rebuttal from the Treasurer but it is more than a little like the pot calling the kettle black. Both men are way out of their depth and represent appalling appointments by their respective parties. Still that may just represent the quality of modern parliaments in Australia. It may be that Liberal Party research tells them that interest rates have a make or break quality.

Much more important is that they recognise the damage of persistent high borrowings by the federal government. That hundred million a day continues to pile up, remorselessly, even if no-one in Canberra shows any remorse. Thus the national disgrace deepens. And all in the service of electoral auctions and intellectual delusion per Keynes. And so it goes . . . for the time being.

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No surprises!
October 15, 2010

Apparently:

The Government’s failed home insulation program has caused considerable suffering to householders and businesses and was expensive for what it achieved, the auditor-general has found.

So, what can we expect from the national Broadband Network? Remember the then Prime Minister saying he took full responsibility for the shambles that was the insulation scheme. Why isn’t he in jail or at least facing a list of charges of negligence among other things? But then being in that position and with the media more or less under control–the alternative being a liberal government–he could make such a statement safely immune from any consequences. Gillard, Wong and Conroy will have long gone before anyone accepts like responsibility for the NBN and the cost way in excess of 40 billion dollars.

Murray-Darling Authority & the National Broadband Network
October 13, 2010

Noteworthy, it is, that in the Guide to the proposed Basin Plan the Murray Darling Basin Authority makes no mention of compensation.

Meanwhile:

The Australian Competition & Consumer Commission chairman Graeme Samuel said it was the proper role of governments to spend money on visionary projects for the future.

That is, Australia’s “competition regulator has questioned the need for a cost-benefit analysis for the $43 billion National Broadband Network”.

As the Opposition spokesman on the NBN, Mr. Turnbull, has implied, the government does indeed reckon itself outside the law and common practice, practice that is compelling in itself and required by law for those who live under the law, which is the rest of us.

These two developments com as the federal government–helped by the near-entirety of the economics profession–maintains the fiction that we have economic growth. A brief investigation of the actual figures of debt and GDP (courtesy of the ABS, though one has to dig a bit to find the actual numbers, authorities much preferring percentages) reveals that, once continued governmental borrowing is removed from the GDP figures, Australia continues in recession.

The result? Green political imperatives and developmental fictions, centralised planning absent cost-benefit analysis, and generational theft combine, as intended, to bring about greatly lowered living standards for common people and strike out any persisting notions of aspiration.

Include the evolving intentions of censorship (under the guise of hostility to child pornography) and we won’t even know!

S-E Freeway runaways
October 12, 2010

Some years ago, after a similar incident on the S-E Freeway, I learned that the vehicle inspection points, roughly mid-way between Tailem Bend and Murray Bridge, had little use. Police from nearby stations attended as time permitted. I wonder if any heavy vehicle has been inspected in the last five years.