Think Tank Questions you need answered

[JoseMourinho]

Strange comment. The Howard government is ranked as the highest spending government in the history of Australia as we know it.

Your portofolio almost certainly benefits from high givernment spending which stimulates the economy.

Why do you prefer australian assets in foreign hands?

Like our so called energy and mining sectors which are 83% foreign owned. Mainly in the hands of US corporations which control about 60%.

Australian banks for exMple are not foreign controlled and are amongst the most regulated in the world, and yet they are AAA rated and weathered the 2008 GFC very well. In fact they directly benefited from the crash becuase overseas investors flooded to australia to park their deposits in save Australian banks.

Hose, all is not what is seems in this australian economy

How can you possibly check if 83% is actually owned by foreign investors? Most of the investors in the market are on behalf of banks so how do you know which client of said bank is Australian or not?

Actually, if you take a look at the top 5 shareholders for all of the big 4. You notice a common theme, HSBC, Citigroup and two other international banks! They're effectively under control of those 4 banks because those banks provide managed funds or portfolio management for overseas customers. (Hence, more foreign ownership). I might alarm you with your "foreign investors, scary" motto but this is the main point.

Australia's banks suffered a bit from the GFC, Commonwealth Bank issued a share purchase plan in 2009 and it was not fully subscribed because the market did not believe that it would weather the GFC. The Banks were trading at record low prices on the Share Market. Despite the Banks being rock solid, they weren't rated at all by the market. Infact, Most of the Big 4 were half their current share price.

The main reason why they suffered was because their share portfolio/loans they issued etc. were being written off or devalued because of the GFC. The only reason why they didn't go into a freefall was because Kevin Rudd told them that they would be bailed out.

The main reason why investors wanted money in Australian cash products was the fact that the Australian Dollar was strengthening because of the mining boom in regards to Iron Ore. The banks benefited from this through the higher dollar but lost money from currency exposure. (Also Australia's interest rates were 2.5% which was far higher than anyone else at the time.)

Woodside, BHP and other blue-chip commodity companies would be attractive to investors who do not have that exposure in their domestic market or wish to seek international exposure. Australia's Market is only 2% of the total market in the world (Let that sink in for a moment...). Lets say I'm an investor in China and want to invest into Iron Ore outside of China. Either I could invest in an Exchange Traded Fund or a Managed Fund which would allow a bank/portfolio manager to invest in BHP for me. Or I could invest directly using a international broker to trade in BHP.

It is a well-known myth that government spending stimulates the economy because for the government to have money, it would need to take away money from the economy in the first place. Also, the stimulus would be only a short-term effect hoping that a long-term effect would take over (hence the Mining boom was very strong). Not to mention, it is well-known that government spending is more inefficient than the private sector (one example - the NBN).

TL;DR - You have no clue what you're talking about and just spousing xenophobic crap.

 

[royals1922]

That was a major embarrassment. Diplomacy doesn't work like that. At least Gillard realised that her understanding of foreign policy was limited.

If you were talking about a leader who operated according the normal norms,yes but in this case they weren't.

Remember the view in Russia is still strongly that the Ukrainians shot down the play. The west knows it's not but every country in western Europe is too shit scared to say anything. Only Abbott and the Dutch even commented adversely on it.

You can blame abbott for this and that but Abbott got that right.

 

[Starburns_]

No going back now....

 

[carnthemlions]

The greens are amazing, nearly all their policies are good. Australia would be an amazing place in the future if the greens had enough seats in parliament and Scott Ludlam was PM.

Truth is, no one party is the answer. I can't realistically see the greens challenging the major parties any time soon. What we need are more credible minor parties(i.e. not ****ing clive) to spread the vote around more.

This.
Even conservatives I know find his priorities ludicrous.

He's in over his head, and he doesn't know it yet.

If you were talking about a leader who operated according the normal norms,yes but in this case they weren't.

Remember the view in Russia is still strongly that the Ukrainians shot down the play. The west knows it's not but every country in western Europe is too shit scared to say anything. Only Abbott and the Dutch even commented adversely on it.

You can blame abbott for this and that but Abbott got that right.

He made an aggressive statement, and then proceeded to back down. Stephen Harper effectively did what Tony said he was going to do, sans bluster for domestic consumption. What probably started out as a plan to push the strong leader perception backfired spectacularly, making Tony look foolish on the international stage in the process.

 

[Hinkley Power]

How can you possibly check if 83% is actually owned by foreign investors?

TL;DR - You have no clue what you're talking about and just spousing xenophobic crap.

You could do some basic research and verify the foreign ownership ️level of Australia's resource sector. It's on the public record, and by various sources.

We also fork out almost 12 billion dollars of tax payers money per year to the fossil fuel sectors in the form of subsidies and grants etc. The bulk of this massive government outlay, goes straight to foreign investors, corporations and owners....

The resource sectors only employ about 3% of the Australian workforce. There are people employed in the Queensland tourism industry than there is in the entire Australian mining and energy sectors.

I prefer that the bulk of Australia's main economic resources are controlled by the Australian people. Set up and support industries that add value to the basic commodities which this nation is blessed with.

I don't want Australia to be a temporary quarry and sandpit for private equity groups living in Monaco, NY and London. Groups that pay very little tax here.

I prefer we as Australians try to emulate countries like Germany who is the world's largest exporter of goods and services, and yet has very few natural resoruces. And they control most of their economic sectors.

How have the major TV networks been going since Howard allowed foreign ownership in 2006? The Nine and Seven networks are controlled by private equity groups in NY. The Ten network is controlled by private equity groups in NY and Canada.

You must be really enjoying the wonderfully rich TV content since 2006? And the enormous local content and support for Austarlian actors and writers etc.

It's not about xenophobia. I know how the socialist corporate welfare system works in the west.

You know what to do now Hose mate

 

[Bender_]

No going back now....

campaigners.

 

[Reginald Perrin]

Abbott is a certified moron and everybody knows it, let's move on.

 

[vjknight]

can we have another GFC so i can get more rudd money ?


good times

 

[ChappyUK]

can we have another GFC so i can get more rudd money ?


good times

Don't you still get the baby bonus?

How many little plasmas do you have?

 

[vjknight]

Don't you still get the baby bonus?

How many little plasmas do you have?

it was so much better when it was lump sum. by the time they caught up with you (wondering how you had 8 children in a year ) we were always long gone. spreading it fortnightly it just wrong.

as for tv's - nah weve moved on to tablets. so much easier to watch foxtel go using someone elses account.

 

[ChappyUK]

it was so much better when it was lump sum. by the time they caught up with you (wondering how you had 8 children in a year ) we were always long gone. spreading it fortnightly it just wrong.

as for tv's - nah weve moved on to tablets. so much easier to watch foxtel go using someone elses account.

Congratulations Mr Knight It's a beautiful new ipad mini.

 

[vjknight]

Congratulations Mr Knight It's a beautiful new ipad mini.

??

mini ? gimme a break.

eyesight isnt what is was mate.

 

[Packedlunch]

If you pick your nose while you're driving and can't find a tissue, where do you dispose of the booga?

 

[El Dubya]

If you pick your nose while you're driving and can't find a tissue, where do you dispose of the booga?

Your mouth.

 

[Packedlunch]

Your mouth.

Option 1^^^^^

Is that a hipster "thing"

 

[El Dubya]

Option 1^^^^^

Is that a hipster "thing"

No tissues when you're cycling.

 

[Rankin_1925]

Your mouth.

I just vomited in my mouth.

 

[Packedlunch]

No tissues when you're cycling.

You could stick it under your bicycle seat? Plenty of room on a fixie seat.

 

[ChappyUK]

I just vomited in my mouth.

Bet it tastes worse than boogas.

 

[Hinkley Power]

can we have another GFC so i can get more rudd money ?

in the USA and the EU, corporations, the plutocratic elite, the banksters, stock market casino thiefs, etc, loved the GFC and its tax payer funded bail outs and socialistic corporate welfare.

Post 2008, the miniscule elite rich at the top, enriched themselves even more as they stuck their snouts in the public purse.

Nice corporate and banking scam the west has running hey folks.?

Privatise and corporatise profit and power, whilst socialising losses and risk.

The perfect corpocratic kleptocracy

 

[Rankin_1925]

Bet it tastes worse than boogas.

Been a while since I had a booga for breakfast, but yeah the regurgitated muesli doesn't taste great.

 

[Jazny]

#LightHearted

 

[chefmeister]

So I've just turned on the car racing in Sydney.
Channel 7 knobs are interviewing drivers. A common thought popped into my brain.
Why the **** do these reporters wear racing suits?

It's like a comic book convention for geeky sports reporter/panel show types while they're living through another medium
I mean, have you ever seen Dave Hughes at a Carlton game where they're winning?
Rare occurance sure, but faaarrk me doesn't he look like he wants to get all kitted up & take the field...

 

[Bender_]

It's like a comic book convention for geeky sports reporter/panel show types while they're living through another medium
I mean, have you ever seen Dave Hughes at a Carlton game where they're winning?
Rare occurance sure, but faaarrk me doesn't he look like he wants to get all kitted up & take the field...

Would be their best forward.

 

[Catastic82]

Would be their best forward.

Would be their only forward