Category: LNP Economic Management

LNP Economic Management, LNP Government

Pull out or perish: behind Blackrock’s grand exit from coal – Michael West

While  LNP policy uncertainty is ensuring investment in the renewable’s boom is down by 56%  in Australia and coal subsidies and promotion are up the tide of the free market is running in the opposite direction. The LNP is openly conducting a market manipulation scam the equivalent of an insider trading rort. If Scotty from marketing were the CEO it’s time he got the sack and /or was charged. (ODT)

BlackRock, the world’s biggest fund, is quitting thermal coal. The move by the $10 trillion fund has stunned financial markets. Climate change and coal: while the people protest in the streets, progressive analysts such as IEEFA’s Buckley protest to global finance bosses. Tim Buckley, who had lobbied hard for the BlackRock exit, reports on the revolution in big money.

via Pull out or perish: behind Blackrock’s grand exit from coal – Michael West

LNP Economic Management, LNP Government, LNP Tactics, Uncategorized

But, that’s the way we always do it in the National Party! – » The Australian Independent Media Network

McKenzie is now Agriculture Minister and Deputy Leader of the National Party and her comments today fall into the categories of ;

that’s the way we always do things in the coalition. Otherwise how would we win ?
My career is going quite nicely, thank you. So please don’t rock the boat.

We should sack the National Office of Audit as they are clearly all Lefties

You all need to take a cold shower because we won the election : so there !

Are you from the ABC ?

So far, the Prime Minister hasn’t commented but in true Westminster fashion it is fully expected that he will sack McKenzie before the week is out … or perhaps not.

via But, that’s the way we always do it in the National Party! – » The Australian Independent Media Network

LNP Economic Management, LNP Government, Uncategorized

ABC under ‘growing’ cost pressure as bushfire emergency broadcasts surge

The ABC's coverage of the bushfires and emergency broadcasts have been extensive.

Morrison is hell bent on cutting the budget of Public Media to the equivalent of 1984. (ODT)

There have been 670 emergency broadcasting events for the 2019-20 financial year so far, an ABC spokesman said, compared to 371 for the full 2018-19 financial year. In 2017-18 there were 256 events, a figure that had been surpassed by mid-September 2019.

via ABC under ‘growing’ cost pressure as bushfire emergency broadcasts surge

LNP Economic Management, LNP Government, Uncategorized

South Australia’s clean-energy shift brings lowest power prices on national grid, audit finds | Australia news | The Guardian

A cow stands by wind turbines

via South Australia’s clean-energy shift brings lowest power prices on national grid, audit finds | Australia news | The Guardian

LNP Economic Management, LNP Government, Uncategorized

ATO data reveals one third of large companies pay no tax – Politics – ABC News (Australian Broadcasting Corporation)

A tax magnet collects dollars from a map of Australia.

via ATO data reveals one third of large companies pay no tax – Politics – ABC News (Australian Broadcasting Corporation)

Filed under:
LNP Economic Management, LNP Government, Uncategorized

The corporations making big money, paying no tax and laughing at us

How many times have we heard this? Year in year out particularly since 2013 yet we voted them in Australia. It’s our money. Does it really only take $100,000 donation that allows you to avoid millions? (ODT)

via The corporations making big money, paying no tax and laughing at us

LNP Economic Management, Uncategorized

Federal Government budget surplus revised down to $5 billion amid forecast revenue slump – Business – ABC News (Australian Broadcasting Corporation)

Frydenberg's unwanted Christmas gift

Frydenberg is blaming everyone else for Australia’s economic slump but fails to explain why we are sliding backwards faster than others in the downturn. Trump certainly isn’t admitting his woes so publicly. (ODT)

via Federal Government budget surplus revised down to $5 billion amid forecast revenue slump – Business – ABC News (Australian Broadcasting Corporation)

LNP Economic Management, LNP Government, Uncategorized

Government report reveals a lagging economy

However, company profits are surging and 30% of companies aren’t paying any Company Tax. These are the fundamentals Frydenberg calls good and resilient. The surge is on the backs of wages and the battle to stop unions growing.  Revenue is reliant on tax cuts and a prayer. Well it’s not going to be coming from Agriculture which suffering from non-climate change drought and fires which has reduced the numbers of cattle and sheep. (ODT)

via Government report reveals a lagging economy

LNP Economic Management, LNP Government, Uncategorized

Income squeeze on men now into fifth year, while women close the gap

ABS figures reveal male weekly median earnings have risen in line with inflation for the past 5 years.

LNP ane the Economy after 5 years. You’ve been scammed Australia. (ODT)

via Income squeeze on men now into fifth year, while women close the gap

LNP Corruption, LNP Economic Management, LNP Government, LNP Tactics, Uncategorized

“No emerging crisis so big the government can’t find a way to look past it.” – » The Australian Independent Media Network

The nation thrills this week to the riddle, wrapped in a mystery inside an enigma of the Morrison government, a puzzle, that includes Lambie’s Faustian bargain, Angus Taylor’s war on both Naomi Wolf and Clover Moore with Gladys Liu’s to-do tipping the government’s weekly balance from hyper-partisan warfare and union thuggery into utter skulduggery.

The one-time trombone-playing former teacher’s aide and ex-chemist-shop proprietor cannot keep mum forever about her Brighsun or Liberal associates, nor they about her, especially as she now has cause to ask for her money back.

Any sensible, practical government would demand the resignation of both Gladys Liu and Angus Taylor. Given his form so far, Scott Morrison is likely to find fifty shades of grey evasion including blaming Labor and Wolf to avoid taking any decision.

There is no individual, no institution nor any emerging crisis so big that this government cannot find a way to look past it.

via “No emerging crisis so big the government can’t find a way to look past it.” – » The Australian Independent Media Network

LNP Economic Management, LNP Government, Uncategorized

Coalition tax cuts a complete failure, latest data shows

via Coalition tax cuts a complete failure, latest data shows

LNP Economic Management, LNP Government, Uncategorized

Three charged over record $1 billion Aussie methamphetamine haul | Stuff.co.nz

The Aussie drug haul is believed to be worth more than a billion dollars.

via Three charged over record $1 billion Aussie methamphetamine haul | Stuff.co.nz

LNP, LNP Economic Management, Uncategorized

The Coalition’s ‘global headwinds’ excuse as wage growth hits 22-year low

But the surplus is the goal screw the journey. New Start and Aged Pensions need to go Josh; (ODT)

The Coalition’s ‘global headwinds’ excuse as wage growth hits 22-year low

LNP Economic Management, Uncategorized

High immigration is changing the Aussie way of life

The proposed West Gate Tunnel crossing of the Maribyrnong River.

Surely it’s been the failure of government management that needs the blame not high immigration that’s required in an aging market. Investment in ingenuity and short term politics have strangled us. We have Smart TV’s Smart everything but Smart Government. (ODT)

The International Monetary Fund’s latest report on our economy says we have “a notable infrastructure gap compared to other advanced economies”. Spending is “not keeping up with population and economic growth”. We have a forecast annual gap averaging about 0.35 per cent of GDP for basic infrastructure (roads, rail, water, ports) plus a smaller gap for social infrastructure (schools, hospitals, prisons).

via High immigration is changing the Aussie way of life

LNP Economic Management, Uncategorized

As far as political slogans go, it was over before it ever really began

Atlassian co-founder Scott Farquhar gave the Australia Oration on Tuesday night.

That doesn’t mean it wasn’t a good idea since having a successful technology industry would still benefit voters who care nothing about it.

As it stands, the Australian economy remains reliant on (badly behaved) banks and companies that dig stuff up out of the ground. Between them, finance and mining generate $1 in every $5 of Australia’s economic output, Reserve Bank figures show.

Yet the biggest creator of wealth and prosperity in the 21st century will be technology. It’s what will allow us to raise productivity and enjoy economic growth without using up scarce natural resources.

Technology also generates jobs – good jobs.

via As far as political slogans go, it was over before it ever really began

LNP Economic Management, Uncategorized

MWI: Economic Recovery or The New Ordinary? – Michael West

Screenshot_2019-11-25 MWI Economic Recovery or The New Ordinary - Michael West.pngvia MWI: Economic Recovery or The New Ordinary? – Michael West

LNP Economic Management, LNP Government, Uncategorized

We older ‘burdens’ on society – » The Australian Independent Media Network

What this government has tried to avoid factoring in (ODT)

The fact is that the proportion of older people who cannot find a job is going to increase, and increase, and increase. It is not going to increase because we are burdens, or bludgers, or light-weight lifters, or any of the other crap mantras that this Government throws towards our aged bones. The number of older people out of work will increase because employers have made it brutally obvious to us that we are not wanted.

via We older ‘burdens’ on society – » The Australian Independent Media Network

LNP Economic Management, Uncategorized

Frydenberg’s ‘ageist’ population backflip

Frydenberg hasn’t a Holistic clue what’s going on. Clutching at straws for excuses he’s failing Australia (ODT)

via Frydenberg’s ‘ageist’ population backflip

Informed Comment, LNP Economic Management, Uncategorized

MYEFO will be interesting – » The Australian Independent Media Network

What we don’t need is to waste hundreds of billions on obsolete weapons of mass destruction, billions on consultants and government advertising, and politicians who think attending sporting matches is more important than their day job.

We don’t need a surplus. We need someone who has a clue about how to invest in this country rather than their own political future.

via MYEFO will be interesting – » The Australian Independent Media Network

LNP Economic Management, Uncategorized

Norway set to gain more from drilling in Great Australian Bight than Australia | Australia news | The Guardian

Birdlife on the Coorong near the mouth of the Murray River where it flows into the Great Australian Bight

Campbell and Shields argue that Norway reaps the rewards from “direct ownership” of oil and gas fields, with global revenue of $46bn from the petroleum industry in 2019 compared with the $1.2bn Australia received from PRRT in 2017-18.

“As a result of the Australian government’s decision to raise little revenue from the exploitation of its oil and gas resources, drilling in the Bight is effectively a no-win proposition for Australia and the communities along its south coast,” the report said.

“While Australians are being asked to shoulder all of the economic and environmental risk of the project, a foreign government is likely to enjoy much of the financial gain.”

via Norway set to gain more from drilling in Great Australian Bight than Australia | Australia news | The Guardian

LNP Economic Management, LNP Government, Uncategorized

Tax Cut Flop: 1080 fails to revive torpid retail sector – Michael West

Tax Cut Flop: 1080 fails to revive torpid retail sector

The retail sector is now in its third year of per capita recession and it’s not just the internet to blame. Alan Austin unpacks the latest retail sales data and how it reflects Australia’s poor economic management.

Tax Cut Flop: 1080 fails to revive torpid retail sector – Michael West

LNP Economic Management, LNP Government, Uncategorized

Latest Aussie Tax Haven Sale: Pyramids of Brookfield get Treasurer’s tick to take aged care empire – Michael West

Latest Aussie Tax Haven Sale: Pyramids of Brookfield get Treasurer’s tick to take aged care empire

Five people died at a children’s hospital in Scotland built by Brookfield, billions have been stripped offshore in Australian assets, yet Treasurer Josh Frydenberg has approved the sale of the nursing home and retirement village business Aveo. It will be controlled in Bermuda. This follows the Brookfield takeover of 43 Australian hospitals.

via Latest Aussie Tax Haven Sale: Pyramids of Brookfield get Treasurer’s tick to take aged care empire – Michael West

LNP Economic Management, Uncategorized

We asked 13 economists how to fix things. All back the RBA governor over the treasurer

via We asked 13 economists how to fix things. All back the RBA governor over the treasurer

LNP Economic Management, Uncategorized

World’s best economy 2019: No, not the Coalition’s Australia

via World’s best economy 2019: No, not the Coalition’s Australia

LNP Economic Management, LNP Government, Uncategorized

ATO’s debt book grows to $45b as Australians owe more than ever – Business – ABC News (Australian Broadcasting Corporation)

Description: $100 Australian dollar notes, pictured in Brisbane, August 20, 2013.

 

via ATO’s debt book grows to $45b as Australians owe more than ever – Business – ABC News (Australian Broadcasting Corporation)

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LNP Economic Management, Uncategorized

Australia falls to stone cold last in Credit Suisse wealth report – Michael West

via Australia falls to stone cold last in Credit Suisse wealth report – Michael West

LNP Corruption, LNP Economic Management, LNP Government, Uncategorized

How Barnaby and the Coalition make hay when it doesn’t rain

How Barnaby and the Coalition make hay when it doesn’t rain

via How Barnaby and the Coalition make hay when it doesn’t rain

LNP Economic Management, Uncategorized

Coalition economic management a huge fail

Coalition response

According to Treasurer Josh Frydenberg,

“What we’re doing to ensure the economy continues to grow is providing the biggest tax cuts that this country has seen in more than two decades and we did that against the will of the Labor Party …”

That is precisely the wrong response. Tax cuts going mostly to the rich simply send income and wealth straight offshore. Hence the current retail crisis, slower growth and, now, the currency crumbling.
Comparisons with the recent past

It should not be like this. When the global financial crisis whacked the world in late 2008, Australia’s economic management was seen as innovative, courageous and successful. Evidence that Australia’s economy was the world’s best-performed from 2009 to 2013 included the dollar’s strong appreciation.
Over the full term of the Rudd/Gillard Labor Governments, the dollar rose 4.5% against the Hong Kong dollar, 4.8% against the US dollar, 10.3% against the Canadian dollar, 19.4% against the Euro, 24.2% against the Korean won, and a thumping 38.1% against the British pound.

There is no sign the Morrison Government is heeding this message from the watching world. It seems determined to continue governing primarily for foreign corporations. So Australians should plan to take their next holiday at the nearest caravan park.

via Coalition economic management a huge fail

LNP Economic Management, LNP Government, Uncategorized

Australian defence department gave contract to US business blacklisted for bribery | Australia news | The Guardian

Super Hornets

Australia’s defence department gave tens of thousands of dollars of work to a US firm blacklisted for corruption and bribery.

Defence last year contracted US firm Lock N Climb to provide it with $25,000 of specialist ladders used for aircraft maintenance. The work was awarded through a limited tender process, meaning other firms were restricted from competing for the contract.

Guardian Australia can reveal that the company was – and still is – blacklisted by the US and barred from working with American government agencies.

via Australian defence department gave contract to US business blacklisted for bribery | Australia news | The Guardian

LNP, LNP Economic Management, LNP Government, Uncategorized

House prices and household income plummet under the Coalition

via House prices and household income plummet under the Coalition

LNP, LNP Economic Management, LNP Government

‘Repay debt for years’: loan changes to hit 136,000 students

Kate Clayton has a HELP debt of about $60,000, and will likely start repaying it next year when she expects to be working full-time.

Making Students Pay Forward  not investing in their future but ours. (ODT)

The Money Managers the LNP

More than 136,000 young Australians are soon to join the ranks of 617,000 former students who are repaying their Higher Education Loan Program (HELP) – formerly known as HECS debt – as the income threshold for repaying the debt is slashed to just $45,881.

‘Repay debt for years’: loan changes to hit 136,000 students

LNP, LNP Economic Management, LNP Government, Uncategorized

Three long years, three crazy weeks, nine national disasters

1. ECONOMY TANKS

2. SECURITY STATE RUNS RAMPANT

3. ABC EMASCULATED

4. NEWS CORP KNIFES OPPOSITION AND AXES STAFF

5. ANGUS MISSES EMISSIONS DEADLINE

6. BARNABY AND OTHER COALITION LNPS IN NUCLEAR WAR

7. THE INDIAN JOB

8. STARTING THE BOATS

9. NO TAX CUTS FOR YOU!

Three long years, three crazy weeks, nine national disasters

LNP Economic Management, LNP Government, LNP Tactics

Nothing To Fear But Fear Itself… And A Coalition Campaign Built On It – New Matilda

The Coalition lacks policies. It also lacks charisma. It has no other option but fear, writes Ben Eltham.

Labor has spent years honing and sandbagging its policy platform, which on any sensible judgment is moderate and achievable. In contrast, the Coalition has spent the last three years consumed by its own internal hatreds. Now that the crisis has arrived, the Coalition finds itself without a coherent assault plan to break down Labor’s platform. Time is running out.

via Nothing To Fear But Fear Itself… And A Coalition Campaign Built On It – New Matilda

LNP Corruption, LNP Economic Management, LNP Government, LNP Theft

Coalition faces calls for inquiry into Murray-Darling deals signed by Barnaby Joyce | Australia news | The Guardian

Part of the Murray-Darling

$80,million Spent like water (ODT)

Guardian Australia reported this week on the mystery surrounding the reason Joyce chose the companies he did for the buybacks. On Friday, Labor raised specific questions about one of the purchases, worth $80m.

On Saturday, Hanson-Young said she would write to the auditor general requesting an urgent audit.

“The auditor has a responsibility to investigate how $80m of taxpayers money was paid for water that doesn’t exist,” she said in a tweet.

via Coalition faces calls for inquiry into Murray-Darling deals signed by Barnaby Joyce | Australia news | The Guardian

LNP, LNP Corruption, LNP Economic Management, Uncategorized

Wren’s week: Liberal use of taxpayers’ funds and Pell’s support group

Scamming your money to promote herself? (ODT)

Downer was rightly universally condemned for her actions, but think about what her action suggests. Firstly, she considered taxpayers’ funds her own to claim and present (the novelty cheque clearly said the Liberal Party on it and had her image printed on it as well). This betrays how the Liberals think about taxpayers’ funds — the funds belong to them, not the public. Which is why the Libs loathe welfare. Any welfare payment made is effectively less money in the pool for them to rort.

Secondly, under the media cover of wall-to-wall coverage of Cardinal Pell’s conviction of paedophilia charges, the Liberals quietly changed the rules around how sitting MPs can use their taxpayer-funded office expenses for political advertising in the lead-up to the election. Again, this rule change takes taxpayers’ funds and allows them to be used by the Liberal Party for political advertising, something in the past they’d have to pay for themselves. Given that in the Victoria State Election the Liberals ran much of their campaign claiming that the Victoria Labor Government was corrupt for accidentally using taxpayer-paid office staff for campaigning (the red shirts scandal), this is hypocritical in the extreme.

via Wren’s week: Liberal use of taxpayers’ funds and Pell’s support group

LNP Economic Management

Australia slides further down the global rankings on jobs and growth

Mr Turnbull’s break-even point, therefore, if he wants to claim the Coalition has maintained employment relative to comparable countries, is 12,752,000 people employed. Above that, he can assert he has improved Australia’s standing. Below that, he must accept that he has allowed Australia’s employment fortunes to slip.
At just 12,501,000 people in jobs, he has, in fact, facilitated a dramatic slide.

via Australia slides further down the global rankings on jobs and growth

LNP Economic Management

How Our Govt Help The Rich Get Richer And The Poor Get Poorer – New Matilda

Already this year, Australians have been confronted with a new barrage of statistics, re-confirming that we are indeed living in a starkly unequal society. The richest 1% now own more wealth than the bottom 70% combined. Growth for workers’ wages has slowed to record lows. Our underemployment rate – 8.4% – is now higher than almost anywhere else in the OECD. And we learned recently that homelessness has jumped 14% since the last census.

via How Our Govt Help The Rich Get Richer And The Poor Get Poorer – New Matilda

LNP Economic Management

Australia’s Coalition — worst economic managers in the Western world

There is now no doubt about who runs Australia’s economy better. Econometrics writer Alan Austin updates the data.

Source: Australia’s Coalition — worst economic managers in the Western world

LNP Economic Management

Will these countries ever repay their debts? | World Economic Forum

In both Greece and Japan, excessive debts will have to be reduced by means previously regarded as unthinkable, writes Adair Turner.

Source: Will these countries ever repay their debts? | World Economic Forum

LNP Economic Management

Howard was Treasurer in the Fraser government from 1977-83. In 1982, wages rose 16 per cent across the country resulting in stagflation; unemployment touched double-digits and inflation peaked at 12.5%. Official interest rates peaked at 21%)

abbott and howard

Better economic managers?