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Thread: Oz Politics.

  1. #9066
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    Default Re: Oz Politics.

    Quote Originally Posted by Duncan Gibbs View Post
    Why is the PM against housing affordability? Class war?
    Asset valuation? It's an interesting one, think how many enterprises in the country are backed by the current bloated real estate valuations. If those valuations fall the bank would want to "renegotiate" loans, lots of loans, the need of the younger half of the population for shelter doesn't enter into the bean counter's calculations. The current situation is profitable for the right people...... yes it is class warfare but from the top down.
    '' You ain't gonna learn what you don't want to know. ''
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  2. #9067
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    Default Re: Oz Politics.

    The same circumstance applies to mineral assets, the banks loaned them a motza on the expectation of high prices, but with asset write down and 90% drops in profit. I think things might get a bit grim myself. Maybe I'll get a new mattress as the banks are looking …………….. No wonder Malcolm is looking a bit tired.

  3. #9068
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    Default Re: Oz Politics.

    A recession we have to have? Maybe? Cutting upper middle class welfare?
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  4. #9069
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    Default Re: Oz Politics.

    Being PM in the next term won't be like Johnny's sweet, sweet time. A poison challis ?
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  5. #9070
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    Default Re: Oz Politics.

    Quote Originally Posted by Duncan Gibbs View Post
    A recession we have to have? Maybe? Cutting upper middle class welfare?
    That will be the last thing to happen, Liberal voters must be spared !!
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  6. #9071
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    Default Re: Oz Politics.

    If I was Bill I'd keep my head down. The WA crowd seem to have gotten the message.

  7. #9072
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    Default Re: Oz Politics.

    Who else have Labor got ?
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  8. #9073
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    Default Re: Oz Politics.

    Plibersek, Albo, Dreyfus (he doesn't want it), maybe Wong but unlikely.

    Plibersek is left, Albo right, Dreyfus centre right, Wong left probably. That's the factional line up.

    Bowen is OK but a bit colourless and certainly not Conroy, a machine man of the old school.

    Marles has a future and Ellis too, but I doubt she'd be interested, too honest.

  9. #9074
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    Default Re: Oz Politics.

    Plibersek may have noted what happened to Gillard, my personal choice for what it's worth.
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  10. #9075
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    I agree Peter, but for that and other boys club reasons not likely, or pleasant for her if she made it.

  11. #9076
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    Default Re: Oz Politics.

    Meanwhile, I note that George Pell has now himself been accused of sexually abusing minors while a priest in Ballarat and as Archbishop of Melbourne. There are allegations, but apparently without substantiation as yet.

    The Age yesterday, quoting the Herald-Sun on Friday --

    The Herald Sun's report on Friday evening claims Cardinal Pell is being investigated by Victoria Police's Sano taskforce for committing multiple offences, by "both grooming and opportunity".
    The report claims police have spoken to "numerous" alleged victims as part of their year-long investigation.
    Victoria Police declined to comment on the report.
    A Victorian government spokeswoman said: "If, as reported, there is an investigation currently before Victoria Police it would be inappropriate to comment."


    As originating from the Herald-Sun it may well amount to nothing. On the other hand, if true, (a) it would be quite in keeping with Pell's character and (b) it would help explain his relucatnce to return home to face the Royal Music.


    Do we have an extradition treaty with the Vatican, I wonder...?
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  12. #9077
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    Default Re: Oz Politics.

    If we did have Abbott would have annulled it, first thing.

    Carol said yesterday that this Royal Commission into Institutional Sexual Abuse ....and it's coverups was the best thing Julia Gillard ever did. I tend to agree.
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  13. #9078
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    Strangely I think the new accusations somewhat opportunist, and likely a product of his obduracy.
    But I may be wrong.

  14. #9079
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    Default Re: Oz Politics.

    There is no evidence so far, I've no opinion yet.
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  15. #9080
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    Default Re: Oz Politics.

    So, 50 - 50 eh? But not as good for Labor as the bald figure might suggest.

    On another tack, housing prices. I still think ready fro a severe fall. Evidently most loans being taken out are interest only, punting for a price increase. Not only is this unsustainable in a falling price situation (equity etc.), it would also be difficult for the banks. Overpriced 'assets' is what did for Lehman Bros.
    Last edited by skuthorp; 02-21-2016 at 03:19 PM.

  16. #9081
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    Default Re: Oz Politics.

    Yes, bubbles are a horror story for the economy in general and the banks in particular.... when they burst , up until then everyone loves them.

    It's fascinating to imagine how much money Australia has borrowed to buy it's own housing stock at inflated prices.
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  17. #9082
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    Default Re: Oz Politics.

    What's the general feeling here about negative gearing? My take is that it's more tailored for investment property than "home" ownership. I have read that it is one of the main factors pushing up real estate prices.
    ​"Life is under no obligation to give us what we expect." Irrfan Khan. RIP

  18. #9083
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    Default Re: Oz Politics.

    A good thing for small-business people self managing their own retirement fund?


    Meanwhile, in other news, the Montague st Bridge strikes again. I swear they had booms to indicate clearance before the bridge last time I looked.

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    We don't know how lucky we are....

  19. #9084
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    Default Re: Oz Politics.

    I think it's massively distorting the property market to the detriment of younger buyers, buyers who need shelter rather than a tax write off.
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  20. #9085
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    I reckon that there's a bit of panic in the Libs over housing in general, neg. gearing in particular. Korman was on radio this afternoon answering selectively.
    The ALP policy seems to have stolen their thunder re negative gearing and the Libs are attempting to panic the horss. Expert opinion seems to say that on;y the top 8% - 10% would be effected and the polls say the voters support some changes.

  21. #9086
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    Default Re: Oz Politics.

    Let's say that the younger vote has a fairly strong opinion on the matter.... and some parents too.
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  22. #9087
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    Default Re: Oz Politics.

    We don't know how lucky we are....

  23. #9088
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    Default Re: Oz Politics.

    Thanks Sean, it's all so she won't drown at sea.
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  24. #9089
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    Default Re: Oz Politics.

    Likewise Sean, and I do like first dog.

    Programme advertised tonight on ABC I think might be interesting, or frightening. The Mining and power industry debt bomb. They are in hock to the banks big time based on continuous price rises of the asset.
    "...a group of overseas and local banks (we do not know who they are yet) stumped up about $2.4 billion in unsecured loans — yes unsecured — to a former BHP offshoot called OneSteel, which later changed its name to the forgettable title of Arrium.
    That means the banks rank equally with about $850 million in trade creditors"
    Well blow me down………. If you owe the bank $100,00 and can't pay you are in strife, if you owe the banks $100,000,000 the banks are in trouble too.

    http://www.theaustralian.com.au/busi...557472733425b5
    Last edited by skuthorp; 02-22-2016 at 07:23 AM.

  25. #9090
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    Default Re: Oz Politics.

    Bilge SHIRTSTAIN, I love it!
    Quote Originally Posted by seanz View Post
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  26. #9091
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    Default Re: Oz Politics.

    I prefer Short Billing , a bit closer to the ark.
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  27. #9092
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    Default Re: Oz Politics.

    Quote Originally Posted by skuthorp View Post
    Likewise Sean, and I do like first dog.

    Programme advertised tonight on ABC I think might be interesting, or frightening. The Mining and power industry debt bomb. They are in hock to the banks big time based on continuous price rises of the asset.
    "...a group of overseas and local banks (we do not know who they are yet) stumped up about $2.4 billion in unsecured loans — yes unsecured — to a former BHP offshoot called OneSteel, which later changed its name to the forgettable title of Arrium.
    That means the banks rank equally with about $850 million in trade creditors"
    Well blow me down………. If you owe the bank $100,00 and can't pay you are in strife, if you owe the banks $100,000,000 the banks are in trouble too.

    http://www.theaustralian.com.au/busi...557472733425b5
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  28. #9093
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    Default Re: Oz Politics.


    Treasurer Scott Morrison has hit back at claims negative gearing is only for well-off people who own multiple houses, saying it is also for poor people who own multiple houses.
    In a fiery speech to property industry professionals today, Mr Morrison said negative gearing was used by all sorts of people with a property portfolio.
    “I know some people won’t agree with me, but they simply refuse to analyse the data. Take a look at any typical Aussie with a second, third, or fourth property – rich or poor – and chances are they’ll use negative gearing,” he said.
    The Treasurer said most of the people he knew used negative gearing. “Even some of the backbenchers I know use negative gearing to offset the losses on their investment properties. It’s very widespread,” he said.
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    Funny part about it is that that is almost precisely what he's been saying for a week.

  29. #9094
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    Default Re: Oz Politics.

    and children overboard is back.............. those horrible refugees don't love their kids like us Ozzies do.
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  30. #9095
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    Default Re: Oz Politics.

    I heard Turnbull tell Question Time, ''under Labour houses will be cheaper''. That plays well to the older demographic ,perhaps but it does give a clue to those wanting to buy shelter who they should vote for.
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  31. #9096
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    Default Re: Oz Politics.

    I made the comment here that I would probably vote for Turnbull. Now I would have to ask the question, why would I? If the Libs and Labor are Coles and Woolies, what does that make Abbott and Turnbull?
    ​"Life is under no obligation to give us what we expect." Irrfan Khan. RIP

  32. #9097
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    Default Re: Oz Politics.

    IIRC....when was the last time? Anyway....didn't Turnbull have to continue with Abbott's policies until the next election? Not exactly able to put his best foot forward.
    We don't know how lucky we are....

  33. #9098
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    Default Re: Oz Politics.

    ​"Life is under no obligation to give us what we expect." Irrfan Khan. RIP

  34. #9099
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    Default Re: Oz Politics.

    I wonder when 'the adults' will finally come along?
    Two school bullies and a group of sycophants under a leader without enough authority.
    Labour is seemingly pleased but I remind you nothing has changed there.
    And the Greens, in bed with the Libs re the senate vote arrangements.

    BTW, what's the consensus re the senate voting system. I rather like the supposed chaos. The projected arrangements would likey cement permanently the representation, to an extent that the libs could have an unshakeable 38 seats in a few elections time.

  35. #9100
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    Default Re: Oz Politics.

    Quote Originally Posted by WX View Post
    I made the comment here that I would probably vote for Turnbull. Now I would have to ask the question, why would I? If the Libs and Labor are Coles and Woolies, what does that make Abbott and Turnbull?
    Turnbull is much ''nicer'' to listen to, his suits are better and his doesn't look as if he's going o hit someone .......................but there is no way I'd vote for him, it's the same old Libs complete with the likes of Bernardi, Abetz, Morrison and Brandis. The Usual Suspects. Tony might even be there somewhere and getting a vote.
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