Non Footy Chat Thread II

[hindy111]

I bet they drink gin

These merkins. They are taking hindy111s money for f**king gin.

 

[hindy111]

Are you still an inner west hipster @hindy111 ? ... or moved elsewhere?

What is a hipster and what do they stand for? Kids of rich parents with stupid beards and oversize glasses?

Enmore now. But hoping to buy place sooon.

 

[Gronk]

Well that's not what RBA Governor Philip Lowe thinks.

https://www.abc.net.au/news/2018-09...big-difference-in-unemployment-wages/10243828

However, the RBA and Dr Lowe are unabashed supporters of high population growth.

As the population clock ticked over 25 million last Month, Dr Lowe made a strong defence of immigrationbullet-proofing the economy.

"This is an important difference, with Australia's faster population growth being one of the reasons our economy has experienced higher average growth than many other advanced economies," Dr Lowe said.

So while the dip in the utilisation rate may indicate the jobs market is finally making some headway in dealing with a growing population, the state of Australia's crowded roads, public transport, hospitals and schools would tend to indicate public policy still isn't.

==================

Australia has a skills based immigration policy, which makes it very much a moveable feast. We can turn the dial and aim our immigration at an area where jobs are hard to fill.

https://immi.homeaffairs.gov.au/visas/working-in-australia/skill-occupation-list

I think it's naive to think that immigration is the silver bullet to jobs growth. In his last speech in June the RBA Governor implored the Morrison Government to ramp up infrastructure spending.

One option is for fiscal support, including through spending on infrastructure. This spending not only adds to demand in the economy, but it also adds to the economy's productive capacity. So it works on both the demand and supply side.

Another option is structural policies that support firms expanding, investing, innovating and employing people.

https://www.rba.gov.au/speeches/2019/sp-gov-2019-06-04.html

Phillip Lowe again pleaded with ScoMo to boost spending. IMO we are in pre-recession state and he needs to shelve his stupid surplus goal and stimulate the f**king economy.

=====

The Reserve Bank governor, Philip Lowe, says two interest rate cuts in as many months should put the economy on a “better path” but he has again called on the government to pull its weight.

The RBA on Tuesday cut the official cash rate to a fresh record low 1% and left the door open for another before Christmas as global trade uncertainty and low wage growth continues to weigh on inflation.

Lowe said monetary policy had a significant role to play in hitting its inflation goal but he again called on government to lend a hand by loosening its purse strings.

“It is appropriate to be thinking about further investments in [infrastructure], especially with interest rates at a record low, the economy having spare capacity and some of our existing infrastructure struggling to cope with ongoing population growth,” Lowe said in a dinner speech to the business community in Darwin on Tuesday night.

The first consecutive 0.25 percentage point cut since 2012 had been widely anticipated after Lowe suggested last month one alone would not be sufficient to reduce spare capacity in the labour market.

Lowe also said structural policies were needed to support businesses to expand, invest, innovate and employ people.

“A strong, dynamic, competitive business sector generates jobs,” Lowe said on Tuesday. “It can help deliver the productivity growth that is the main source of sustainable increases in our wages and incomes.”

Lowe said while the Reserve Bank’s monetary policy framework was centred on the inflation target, the ultimate objective was to promote the collective economic prosperity of Australia.

“In the board’s judgement, the easing of monetary policy last month and this month will help promote our collective welfare,” he said.

Last month’s cut – the first move in any direction since August 2016 – came a day before the release of another disappointing quarterly GDP result and 10 days before unemployment was shown to have remained unchanged at an unsatisfactory 5.2%.

https://www.theguardian.com/austral...ls-for-more-federal-spending-to-boost-economy

 

[strider]

To me Sydney has an unprecidented amount of work going on. There are a gazillion cranes scattered all over the city. Unit "slums" going up (and in the future will fall down lol) everywhere.

Are it other parts of the country in the shit?

 

[Barry O'Speedwagon]

To me Sydney has an unprecidented amount of work going on. There are a gazillion cranes scattered all over the city. Unit "slums" going up (and in the future will fall down lol) everywhere.

Are it other parts of the country in the shit?

Don't confuse a mechanism for people to turn Yuan into hard currency with other economic activity. The decisions to put these things up occurred some time ago.

 

[Bandwagon]

Phillip Lowe again pleaded with ScoMo to boost spending. IMO we are in pre-recession state and he needs to shelve his stupid surplus goal and stimulate the f**king economy.

=====

The Reserve Bank governor, Philip Lowe, says two interest rate cuts in as many months should put the economy on a “better path” but he has again called on the government to pull its weight.

The RBA on Tuesday cut the official cash rate to a fresh record low 1% and left the door open for another before Christmas as global trade uncertainty and low wage growth continues to weigh on inflation.

Lowe said monetary policy had a significant role to play in hitting its inflation goal but he again called on government to lend a hand by loosening its purse strings.

“It is appropriate to be thinking about further investments in [infrastructure], especially with interest rates at a record low, the economy having spare capacity and some of our existing infrastructure struggling to cope with ongoing population growth,” Lowe said in a dinner speech to the business community in Darwin on Tuesday night.

The first consecutive 0.25 percentage point cut since 2012 had been widely anticipated after Lowe suggested last month one alone would not be sufficient to reduce spare capacity in the labour market.

Lowe also said structural policies were needed to support businesses to expand, invest, innovate and employ people.

“A strong, dynamic, competitive business sector generates jobs,” Lowe said on Tuesday. “It can help deliver the productivity growth that is the main source of sustainable increases in our wages and incomes.”

Lowe said while the Reserve Bank’s monetary policy framework was centred on the inflation target, the ultimate objective was to promote the collective economic prosperity of Australia.

“In the board’s judgement, the easing of monetary policy last month and this month will help promote our collective welfare,” he said.

Last month’s cut – the first move in any direction since August 2016 – came a day before the release of another disappointing quarterly GDP result and 10 days before unemployment was shown to have remained unchanged at an unsatisfactory 5.2%.

https://www.theguardian.com/austral...ls-for-more-federal-spending-to-boost-economy

They will do everything in their power to actually deliver the surplus they lay claim to have already delivered.

I would not be surprised at all if they would risk recession as an expense, the nations unhealthy and illogical obsession with the idea of a surplus seems to trump just about every other measure of "economic management"

 

[Gary Gutful]

It's like a positive for and against.

 

[Hollywood Jesus]

Well that's not what RBA Governor Philip Lowe thinks.

I'm shocked that someone in an official economics position has an official stance for continued high immigration. Shocked, I tells ya.

On the upside, immigration is also keeping real estate from crashing (and therefore keeping it unaffordable) so we don't need to invest our money in anything useful.

Oh, hang on, it's not partly because of this, is it...?

And also partly because the continued influx of migrants from developing countries keeps wages growth low, is it...?

Shocked, I tells ya.

Phillip Lowe again pleaded with ScoMo to boost spending. IMO we are in pre-recession state and he needs to shelve his stupid surplus goal and stimulate the f**king economy.

I would say the first person who needs to do his job is Albo, in regards to letting the tax cuts through. They won't solve the problem, not by a long shot, but they'll put some extra money into the economy.

In summary, I don't need a joke like Lowe to tell me what he wants. His goal is the inflation target band, and what was inflation last quarter? 0.0? What is it over the last 12 months? 1.3? We've hit our target band once in the last 3 years.

Read the release from yesterday's cut - Lowe is saying all is well because petrol prices will go up this quarter so inflation will rise. Awesome, Lowey. Nice to see you're doing your part by relying on external factors to save your arse. How's unemployment going, Lowey? Consumer confidence? (Yeah, that rate cut to 1.0% will really inspire confidence).

You see, Gronky, the difference between you and I is that you need people to spoon feed you their dribble so you can regurgitate it. I don't.

Did you see Lowe refer to the Australian economy as "reasonable" twice in yesterday's release? You know that's a bad thing, right? Did you even read the release or did you just do a Google search looking for something to post against me after I have posted, and grabbed whatever you could find???

If I'm so wrong, tell me what would happen if we reduced immigration for 2 years? Go back and read my post and explain how my claimed outcomes would not occur.

 

[Gary Gutful]

A smug response from HJ? Shocked, I tells ya.

 

[hindy111]

A smug response from HJ? Shocked, I tells ya.

He had a shot at Gronk. I enjoyed it.
I might even read it again later.

 

[Poupou Escobar]

Oh hang on, it's not partly because of this, is it...?

And also partly because the continued influx of migrants from developing countries keeps wages growth low, is it...?

Shocked, I tells ya.

You got a problem with low wages and high real estate prices you f**ken Nazi?!?

 

[Gronk]

If I'm so wrong, tell me what would happen if we reduced immigration for 2 years? Go back and read my post and explain how my claimed outcomes would not occur.

If you read my post, you would see that I dealt with your immigration "problem". I reminded you that our immigration was skill based and that Home Affairs actively change intake depending on workforce demands. Accordingly I am not adverse to the rate of immigration fluctuating from month to month or year to year depending on demand. That's how it works.

A toggle on immigration is not the economic panacea that you claim. There is no modeling that supports this and is just unnecessary dog whistling.

I would say the first person who needs to do his job is Albo, in regards to letting the tax cuts through. They won't solve the problem, not by a long shot, but they'll put some extra money into the economy.

The point of contention of the tax cuts is stage 3. Stage 1 is now, Stage 2 is 2022 and Stage 3 is 2024. Albo has already said that he supports Stages 1 & 2 and has asked that they split it from Stage 3 or bring Stage 3 forward. Remind me again what the problem is ?

 

[Poupou Escobar]

Whose 'demand' for immigration decides the numbers? Normally when there's an undersupply of labour it pushes wages up. Does globalisation mean this is no longer allowed to happen? Who benefits from this? Not every Australian, that's for sure.

 

[Soren Lorenson]

Well this seems like as good a place to ask this question then.
I’ve been looking to get quite a bit of landscaping done. I’ve gotten a quote of $50k+ (it doesn’t even cover everything I wanted). The total size of the are is around 90sqm and the work is a mix of new retaining walls, replacing old concrete with travertine and some fencing.
My problem is it’s seems a fair bit more than what Google suggests it should be, but getting a landscaper to actually do the work is a f**king nightmare and these guys seem like they’d be reliable.
Is it reasonable?

Hey @84 Baby, i just had some landscaping done around a pool. The guy did a great job but was less than great at his paperwork/details on the quote etc. Around my area at the moment landscapers are at a premium, a combination of not enough of them and lots of work around. I didn't stuff around with too many quotes as I trusted the guy doing it and he was very reliable when turning up. I paid about $400 per metre for treated pine retaining wall 1m high, backfilled correctly with drainage etc. $240 per sq m supplied and laid travertine on concrete base. $110 per metre paling fence installed. I did all the planting design and installation as I used to be a landscape designer back in the olden days, but it's easy to spend thousands on plants.

If I ever google things to find out price, I always find unrealistic prices which never match what I am finding in the real world. Hope this helps.

 

[Gronk]

Whose 'demand' for immigration decides the numbers? Normally when there's an undersupply of labour it pushes wages up. Does globalisation mean this is no longer allowed to happen?

Yes an undersupply of labour pushes wages up, but that does not deal with the problem at hand. Wonderful that you have wages growth for those who are in the workforce, however what happens to industry who cannot fill positions ?

If we have a shortage of nurses for example, industry can't wait for 4/5 years before we train a bunch. How do we solve this problem ? Skilled immigration.

Recently a new subclass 191 visa was introduced for skilled immigration to regional areas. These are the compromises that need to be encouraged.

 

[84 Baby]

Hey @84 Baby, i just had some landscaping done around a pool. The guy did a great job but was less than great at his paperwork/details on the quote etc. Around my area at the moment landscapers are at a premium, a combination of not enough of them and lots of work around. I didn't stuff around with too many quotes as I trusted the guy doing it and he was very reliable when turning up. I paid about $400 per metre for treated pine retaining wall 1m high, backfilled correctly with drainage etc. $240 per sq m supplied and laid travertine on concrete base. $110 per metre paling fence installed. I did all the planting design and installation as I used to be a landscape designer back in the olden days, but it's easy to spend thousands on plants.

If I ever google things to find out price, I always find unrealistic prices which never match what I am finding in the real world. Hope this helps.

Cheers for that. I’m reassessing then I might take up Suitys offer to appraise my quote. But yeah yours sounds a lot like mine. I’m fairly certain I’m getting squeezed on a couple of things that I could definitely do myself, but the stuff I can’t sounds about same so that’s good.


Then again.... perhaps you’ve made this all up and are the guy who did my quote

 

[Soren Lorenson]

Cheers for that. I’m reassessing then I might take up Suitys offer to appraise my quote. But yeah yours sounds a lot like mine. I’m fairly certain I’m getting squeezed on a couple of things that I could definitely do myself, but the stuff I can’t sounds about same so that’s good.


Then again.... perhaps you’ve made this all up and are the guy who did my quote

Maybe Suity is....Nothing is ever as cheap as you think it is going to be when you build/reno/landscape.

 

[84 Baby]

Maybe Suity is....Nothing is ever as cheap as you think it is going to be when you build/reno/landscape.

There are definitely certain taxes you have to pay. There’s always cash discount but that usually comes with a quality tax

 

[Gronk]

This merkin. Money is almost free. Go out and spend it FFS.

 

[Snoochies]

This merkin. Money is almost free. Go out and spend it FFS.

I am....... on rates, electricity, insurance, petrol and registration FFS! Whatever I have left over I have to keep so I can pay for rates, electricity, insurance, petrol and registration FFS!