Asylum seeker bill up $1.3 billion 2

Posted to Adelaide Now (30/11/2011) on 30/11/2011 at 11:11 AM
Commenting "Asylum seeker bill up $1.3 billion"
http://www.adelaidenow.com.au/news/national/asylum-seeker-bill-up-13-billion/story-e6frea8c-1226209717799

I would like to seek asylum from the Australian Government on humanitarian grounds. I have been tortured mentally by financially inept, dictatorial fibbers each day....

Asylum seeker bill up $1.3 billion

Posted to Adelaide Now (30/11/2011) on 30/11/2011 at 4:23 AM
Commenting on "Asylum seeker bill up $1.3 billion"
http://www.adelaidenow.com.au/news/national/asylum-seeker-bill-up-13-billion/story-e6frea8c-1226209717799

Please lock up Julia Gillard and her troop in the detention camp and throw away the key in the South China Sea off Malaysia. While they are in the camp, make sure they study mathematics to improve their numeracy skill. BTW, by putting that "slippery" guy with them will save $1.75 million of travel expenses a year. Why? Don't forget Kevin Rudd will not be travelling if he is in the camp with them!

Gillard goes 'all the way' with Obama's big regional push

Posted to The Age (18/11/2011) on 18/11/2011 at 12:26 PM
Commenting on "Gillard goes 'all the way' with Obama's big regional push"
http://www.theage.com.au/opinion/politics/gillard-goes-all-the-way-with-obamas-big-regional-push-20111117-1nl15.html

If there are laws on almost every form of discrimination, one more should be added to the list - international alliance discrimination! How will the US President or international leaders react if China were to propose forming close alliance with some of small countries in the Pacific region and set up military "training" bases there? How will the Australian Government and its citizens respond to China's proposal to set up bases around Broome, probably to keep an eye on Indonesia, or in the name of safeguarding the Asian Pacific region due to the US presence? These are not absurd questions, and Australian Government will need to start thinking before the latter proposal is put on the table.

Millions of acres of land, especially in the northwest of Australia, have been sold to unknown, non-government buyers from different countries. I am not a scare monger, not to the extend to say that there will be production of WOM, but I can think of many ways the "farmland" can be used or camouflaged which can bring Australia to its knees. Satellite surveillance system can detect a lot of things from above, and yet refugee boats slipped through detection. If it cannot detect what's above ground / sea surface, what hope can the system detect what's going on below?

Foreigners owning Australia's sovereign land is better than wars, because it involves no bloodshed. While prevention is better than cure, it is useless once infiltration has already taken place. Occupation of land is the beginning of infiltration and it is not limited to China only!

Aussie stocks trim gains

Posted to The Age (11/11/2011) on 11/11/2011 at 1:25 PM
Commenting on "Markets Live: Aussie stocks trim gains"
http://www.theage.com.au/business/markets-live-aussie-stocks-trim-gains-20111111-1na5v.html

If Rome was not built in one day, how could Italy? Besides, it will cost a lot more in money and time to rebuild what has been "destroyed" by its ageing population, bureaucracy, corruption and tax-avoiding black market. With that in mind, how can anyone believe that this bad wind will blow away in just a matter of a day or so, and have so much confidence in pushing up share prices in such turbulent market?

Anything happens in Europe can affect economy worldwide. It is evident from other reports that China export has slowed. It is myopic to think that internal consumption will keep China economy going just like before. If it does, it is only temporary, because China needs a lot of money to look after a huge population.

Australia must also be cautious about continuous outflow of monies to overseas through online shopping and outbound tourism. Once consumers parted their monies, there will be less for internal circulation required for job creation and tax revenue.

Debt makes the world go round, but debt is virtual money and must be repaid at some point in time. Prosperity created by debt is temporary, unless it can be repaid sooner by real money and not by another form of debt.

Stocks lose $37b on Italy fears

Posted to The Age (10/11/2011) on 10/11/2011 at 12:18 PM
Commenting on "Markets Live: Stocks lose $37b on Italy fears"
http://www.theage.com.au/business/markets/markets-live-stocks-lose-37b-on-italy-fears-20111110-1n85g.html

As if you don't know that this is coming, really? Do you know who the PI(I)GS are? Bad luck for those who are so pig-headed in insisting that Santa Claus will bring them the gold nugget this Christmas will lose not just the pair of pants they are wearing, but the whole wardrobe’s. Take off the blinkers or the Stevie Wonder style glasses and look again. If you believe in the end of the world will occur in 2012, you still have a tomorrow, because there are a lot of tomorrows yet to come before 2012. The financial turmoil in Europe is real, and it is a lot bigger than Ben Hur. The flow-on effect is real as well, but then many economists just brush it off - China cannot just rely on internal consumption to keep its prosperity going. Without inflow of export or investment income, savings will dwindle. It’s elementary, Watson!

Aussie stocks hold onto gains

Posted to The Age (9/11/2011) on 9/11/2011 at 12:30 PM
Commenting on "Markets Live: Aussie stocks hold onto gains"
http://www.theage.com.au/business/markets/markets-live-aussie-stocks-hold-onto-gains-20111109-1n67q.html

My goodness, who will come out with the money for any new bail out? That's nothing to sing and dance about!

Shares rally as Greece backs down

Posted to The Age (4/11/2011) on 4/11/2011) at 2:32 PM
Commenting on "Markets Live: Shares rally as Greece backs down"
http://www.theage.com.au/business/markets-live-shares-rally-as-greece-backs-down-20111104-1myk8.html

People do believe in fairy god mother. How likely will Greece get out of their financial trouble after the bail out? How can years of reckless, mismanaged economy and short-sighted industrial modification be fixed with the stroke of a pen, or some loud verbal threats by their neighbours?

Greece faced economic hardships and defaulted on its loans in 1826, 1843, 1860 and 1893 (Wikipedia). Greeks are supposedly one of the most hardworking after the South Koreans. However, the number of hours cannot be interpreted as efficiency or effectiveness.

Loss of competitive edge in manufacturing to more efficient and cheaper countries costs export income. Greece also relies heavily on service industries including tourism, which prosper during economic good times. Not unlike many other countries, the hosting of the Olympics Games resulted in financial losses in the millions. All these create huge unemployment, and no matter how big the bail out, the situations will be difficult to be reversed.

Greece has to default and free itself from the Eurozone and start afresh. Change experts know that change can only be achieved effectively if one is prepared to do so without the external pressure. Greece citizens have to bite the bullet and learn to live within their means.

Germany is flexing its muscle to get this finished and done with, because it has a lot more to lose if Greece were to go bankrupt and leaves the clan - it will affect the Euro currency, and make export expensive.

The rise of unemployment is not a unique Grecian phenomenon. It is a lesson Australia must take note.

Holden still to decide on Commodore future after claims union claims it's going offshore

Posted to Adelaide Now (3/11/2011) on 3/11/2011 at 9:40 PM
Commenting on "Holden still to decide on Commodore future after claims union claims it's going offshore"
http://www.adelaidenow.com.au/news/south-australia/union-claims-holden-commodore-design-to-be-taken-offshore/story-e6frea83-1226184180442

@Bitter as of Paradise, comment 101: Of course we do, Australia makes Australian babies who can't find employment when they grow up!

If all those CEOs, marketing gurus, fortune telling economists are so good, how come they don't foresee all these icons disappear from Australia one after another?

Unions have a fair share in the making, but the mega-million buck CEOs are just as big a culprit. It's about time shareholders keep an eye on the power hungry Boards and money grabbing Board members, CEOs and top executives, to make sure that they are doing right by you. If you are unsure about what you are investing in, not only the brick-and-mortar and machinery, but also the people in the company and how they perform, then find out more or don't touch the unknown.

Higher share price normally don't benefit the general mum-and-dad shareholders, but those who know how to play the game. The top people benefit a bigger slice of the winnings. In a real world, what goes up will come down, but these smart people have put their golden nest eggs in secure places that will last them many life times.

RBA rate cut sparks commercial response

Posted to Sydney Morning Herald (1/1/2011) on 1/1/2011 at 5:12 PM
Commenting on "RBA rate cut sparks commercial response"
http://www.smh.com.au/business/rba-rate-cut-sparks-commercial-response-20111101-1mte4.html

The benefits of FHOG should be tested by the Myth Buster team. The concept is nobly good, but in the real world where sellers of properties are out there to maximise profit or minimise loss, the amount of FHOG is normally costed it, that is, sold at inflated price. This is a double whammy for the buyers. Higher house price means higher stamp duty (in Victoria) and bigger loan.

Let say a property is $200000, FHOG $7500, and average stamp duty in Victoria 5% approximately. If the buyer requires borrowing 80% for the property value, and FHOG is not costed in, he needs a loan of $168000 (excluding other fees and charges). However, many house prices have already included the FHOG component since its introduction, the house price is in effect $207500, plus $10375 stamp duty. A loan of 80% of the total amount $217875 comes to $174300, or $6300 more than pre-FHOG day.

If FHOG is to increase, we can only see the house prices rising again, instead of coming down.