Punch on: Open thread: 13/07/2010

Peasant #3167 says:

06:45am | 13/07/10

With all the taxes and fees I pay the government I work 3 days for them and 2 days for me. Even after all that work for my country my voice is alway drowned out but the people who can afford a lobby group leader like Wayne Goss who can get them $250 Million, or a lawyer for boat people arguing more money and better conditions. Why is it always the screaming child that gets the lollies? This is not my idea of democracy.

Robert S McCormick says:

09:26am | 13/07/10

East Timor, poor but newly emergent Democracy has, just like us, a Democratically elected Parliament consisting of 65 MPs. Yesterday 34 of them sat down in the House and voted on Julia Gillard’s proposal to establish the Gillard Gulag in East Timor. The result? A unanimous 34 to 0 against. Julia’s Foreign Minister, Stephen Smith, has told us that this vote is irrelevant for it does not necessarily reflect the view of the Government of East Timor. He is pressing ahead with a trip by MPs & their advisors to East Timor to talk with their Government about the Gillard Gulag.
Unless the Democracy of East Timor is very different from ours this trip is nothing more than a very expensive, First Class Air Fares & 5-Star accomodation, junket.
Unless they were lying, when Parliamentary Democracy was established in East Timor, our politicians told us how it was they who were mainly responsible for putting it in place.
It matters not what position the Government of East Timor holds with regard to the Gillard Gulag.
Before one spadeful of earth can be dug the Parliament of East Timor has to pass Enabling Legislation. Given that a decent majority, 34 of the 65 - well over 50%, of East Timorese MPs have already voted against such a proposal the chances of even the necessary legislation being passed is zero.
For Stephen Smith to speak as he has done shows just how little regard the ALP has for Parliamentary Democracy. This was to be expected under the chairwomanship of that puppet of the Socialist Left, Julia Gillard. It can only be a matter of time before they start using Stalinist/Maoist terms like “Politburo”, “The Peoples Democratic Government of Australia, “” The Union of Socialist States of Australia”.

My say says:

11:05am | 13/07/10

Mal Brough’s returning, as a non-party allied, floating voter, I liked the guy.  Julia would be a little more rattled if he fronted the coalition.  Maybe next time Mal, because Abbott will need to fall on his spokes when the coalition lose.

Jaimes says:

12:12pm | 13/07/10

On the Hollywood theme (loosely) I am pissed that Marvel Studios has chosen NOT to have Edward Norton back as The Hulk for the upcoming Avengers movie ... not only is it a bonehead move, but the manner in which the studio has publicy insulted such a great actor (http://www.hitfix.com/articles/2010-7-11-exclusive-edward-norton-s-agent-responds-to-marvel-ceo-s-statement) makes me very angry (and yes, I’m going to say it) ... you wouldn’t like me when I’m angry *grrr* http://thoughts.jaimesthorpe.com/

Peasant #3167 says:

03:11pm | 13/07/10

T.Chong, you must have missed the boat (pun not intended). No I do not pay 60% tax. I pay 33%, but then I pay 10% GST, and I pay 55% tax on fuel, I pay 5% Customs tariff and goods inflated by 20% by Customs, I pay car registration, ambulance levy, stamp duty on cars, land, houses, other documents, I pay council rates, road tolls, water, 40% tax on alcohol, 400% tax on cigarettes, Medicare Levy, Government fees and charges on my bank account, I could go on and on and on. T Chong if you are a working person then you too are giving 3 days of your 5 to the government.

Talon says:

03:42pm | 13/07/10

The banks are at their spin again today.

Rising Sales lift Business conditions. (from the NAB)
“Conditions in the retail sector rose in June, but the sector remained the weakest of the industries.”  Despite heavy discounting, sales only marginally improved.  The low interest of the consumer led to further discounting in June.  Personally, I was not interested in the sales either.  Even if they were genuine this time.

Banks face pressure over cost of lending and look likely to raise rates.  (the Australian).
“Cost pressure facing the big banks was highlighted by Westpac’s move in late June to raise $800 million in five-year funding at 35 basis points more than a similar deal seven months ago”.  Well that is gibberish to me.  Are they projecting profit margins and growth in share market points?  And here I thought the cost of the loan was born by the borrower, such as insurance.

The RBA tried to sell us that the increases in morgage rates meant an increase in saving inerest rates.  Well that is good news for someone with a mortgage (not).  I suspect it was more likely a shortfall in capital requiring an insentive by the banks and the governement for people to save more.

“Australian home loan numbers rose sharply by 1.9 per cent during May. The average loan size fell by 1.3 per cent, but the number of new loans grew despite higher interest rates.”  What can we get from this?  A not so sharp increase (less then the previous year) and more homes are selling for less.  Do they really think that over priced homes and high interest rates had no effect?