OT: Current Affairs and Politics

[the phantom menace]

You would guess?

Why not? The recently re-elected government's got things more under control than the fractured former-Coalition policy-free zone non-opposition.

 

[Gary Gutful]

Well, if anyone has received their utility bills since the election of
Labor in State and Federal, it’s been a rise of over 40% in the past 18months. Any wonder why inflation is friggin rising Chalmers and Mookey and their inability to understand the impact on families and home owners.

Said previously Chalmers is basically hopeless, and is benefiting from the LNP being a boil that needs lancing. Can’t see inflation falling in the near future until govt expenditure and policies are under control.

Most of the big electricity and gas price jumps were locked in before the last federal election, driven by global energy shocks, Ukraine, coal outages, and state-based market failures. Governments don’t set wholesale prices, and no Treasurer flicked a switch in May 2022 and whacked 40% on bills.

On inflation more broadly: Australia’s inflation problem is not unique and it didn’t magically start when Labor was sworn in. Every advanced economy copped the same surge, largely from supply-side shocks and post-COVID demand — things fiscal policy only partially influences. In fact, Australia’s peak inflation was lower than the US, UK and much of Europe, hardly evidence of total economic incompetence.

As for government spending, the uncomfortable fact is that most of the structural spending baked into the system — NDIS growth, defence, stage-3 tax cuts, health — was either legislated or accelerated under the previous government.

Labor aren't great and I'm not defending them, but inflation has actually been trending down and much of what causes inflation is driven by global factors. I wouldn't judge either party in power by what is happening with inflation.

You are right about lancing the LNP boil. Would love to see them get their shit together and give me a reason to vote for them again.

 

[85 Baby]

Can’t see inflation falling in the near future until govt expenditure and policies are under control.

I agree. Which of their high expenditures or policies do you reckon they should rein in first?

 

[JokerEel]

Most of the big electricity and gas price jumps were locked in before the last federal election, driven by global energy shocks, Ukraine, coal outages, and state-based market failures. Governments don’t set wholesale prices, and no Treasurer flicked a switch in May 2022 and whacked 40% on bills.

On inflation more broadly: Australia’s inflation problem is not unique and it didn’t magically start when Labor was sworn in. Every advanced economy copped the same surge, largely from supply-side shocks and post-COVID demand — things fiscal policy only partially influences. In fact, Australia’s peak inflation was lower than the US, UK and much of Europe, hardly evidence of total economic incompetence.

As for government spending, the uncomfortable fact is that most of the structural spending baked into the system — NDIS growth, defence, stage-3 tax cuts, health — was either legislated or accelerated under the previous government.

Labor aren't great and I'm not defending them, but inflation has actually been trending down and much of what causes inflation is driven by global factors. I wouldn't judge either party in power by what is happening with inflation.

You are right about lancing the LNP boil. Would love to see them get their shit together and give me a reason to vote for them again.

Let's be real we are being royally screwed by governments of the past and present.

We produce the coal and gas but don't control the price.. wtf is that shit thanks for going private.

Just like how we sold off that port to China which Albo wants to take back but it's going to cost us an arm and a leg...

 

[JokerEel]

I agree. Which of their high expenditures or policies do you reckon they should rein in first?

Foreign Aid

 

[85 Baby]

Just like how we sold off that port to China which Albo wants to take back but it's going to cost us an arm and a leg...

LNP are just better at the money side than Labor. Port Darwin was only taking in $20m in profit a year, so if we sell a 99 year lease on it for half a billion, that’s an average return of $5m. Who wouldn’t agree to turning $20m into $5m? And it’s a simple fix anyway, you see we’ll take that $500m, triple it with our own money and then build another port that will be in direct opposition with original, thus splitting the original profit we had a monopoly on! LNP are great at making numbers go down so it’s certain they’d have reduced inflation

 

[85 Baby]

Foreign Aid

To whom?

 

[JokerEel]

To whom?

Foreigners of course

 

[JokerEel]

LNP are just better at the money side than Labor. Port Darwin was only taking in $20m in profit a year, so if we sell a 99 year lease on it for half a billion, that’s an average return of $5m. Who wouldn’t agree to turning $20m into $5m? And it’s a simple fix anyway, you see we’ll take that $500m, triple it with our own money and then build another port that will be in direct opposition with original, thus splitting the original profit we had a monopoly on! LNP are great at making numbers go down so it’s certain they’d have reduced inflation

Bargin!

 

[Delboy]

I agree. Which of their high expenditures or policies do you reckon they should rein in first?

Their crazy and unachievable renewables electricity policy, it’s failed at about every other country and they have pulled back from their reliance and have reintroduced gas and HELE coal generation . Obviously not China, India or USa the worlds biggest emitters. That policy feeds through to everything, and perhaps tell the truth on the real cost including transmission updates needed ( apparently in th billions and not included in costings)

Scale back the increase in immigration which fuels home demand, and reduce public service which has ballooned , and really target the NDIS which is out of control.

 

[Gary Gutful]

Let's be real we are being royally screwed by governments of the past and present.

We produce the coal and gas but don't control the price.. wtf is that shit thanks for going private.

Just like how we sold off that port to China which Albo wants to take back but it's going to cost us an arm and a leg...

I think that leasing the Port of Darwin, whilst economically smart, was geopolitically stupid.

 

[JokerEel]

I think that leasing the Port of Darwin, whilst economically smart, was geopolitically stupid.

Yep and I am not bagging Albo here is in between a cock and a hard place here.......

 

[the phantom menace]

Let's be real we are being royally screwed by *governments of the past and present.

Capitalism and globalisation.

We produce the coal and gas but don't control the price.. wtf is that shit thanks for going private.

That's Capitalism and globalisation.

Just like how we sold off that port to China which Albo wants to take back but it's going to cost us an arm and a leg...

And Capitalism and globalisation again.

 

[the phantom menace]

Their crazy and unachievable renewables electricity policy, it’s failed at about every other country and they have pulled back from their reliance and have reintroduced gas and HELE coal generation . Obviously not China, India or USa the worlds biggest emitters. That policy feeds through to everything, and perhaps tell the truth on the real cost including transmission updates needed ( apparently in th billions and not included in costings)

Scale back the increase in immigration which fuels home demand, and reduce public service which has ballooned , and really target the NDIS which is out of control.

Oh dear. Someone's sipped the kool-aid on those ones.

 

[hindy111]

Well, if anyone has received their utility bills since the election of
Labor in State and Federal, it’s been a rise of over 40% in the past 18months. Any wonder why inflation is friggin rising Chalmers and Mookey and their inability to understand the impact on families and home owners.

Said previously Chalmers is basically hopeless, and is benefiting from the LNP being a boil that needs lancing. Can’t see inflation falling in the near future until govt expenditure and policies are under control.

My insurance goes up about $80+ a year. May not seem a lot but thats 8% compounding and on 4 or 5 policies. Another $400-$500 a year. It's ridiculous.

 

[JokerEel]

Oh dear. Someone's sipped the kool-aid on those ones.

Was it you?

 

[JokerEel]

Capitalism and globalisation.

That's Capitalism and globalisation.

And Capitalism and globalisation again.

Who allowed capitalism and globalization..

The Government

 

[hindy111]

Most of the big electricity and gas price jumps were locked in before the last federal election, driven by global energy shocks, Ukraine, coal outages, and state-based market failures. Governments don’t set wholesale prices, and no Treasurer flicked a switch in May 2022 and whacked 40% on bills.

On inflation more broadly: Australia’s inflation problem is not unique and it didn’t magically start when Labor was sworn in. Every advanced economy copped the same surge, largely from supply-side shocks and post-COVID demand — things fiscal policy only partially influences. In fact, Australia’s peak inflation was lower than the US, UK and much of Europe, hardly evidence of total economic incompetence.

As for government spending, the uncomfortable fact is that most of the structural spending baked into the system — NDIS growth, defence, stage-3 tax cuts, health — was either legislated or accelerated under the previous government.

Labor aren't great and I'm not defending them, but inflation has actually been trending down and much of what causes inflation is driven by global factors. I wouldn't judge either party in power by what is happening with inflation.

You are right about lancing the LNP boil. Would love to see them get their shit together and give me a reason to vote for them again.

Construction costs have gone up so mucu because of all the safety rules. Whilst many might be good its become over the top.

 

[the phantom menace]

Was it you?

No, I didn't fall for convenient oppositional rhetoric that migration (which feeds the capitalist beast of economic growth) needs to be wound back, or that renewables don't make far more sense for our future generations.

 

[the phantom menace]

Who allowed capitalism and globalization..

The Government