Australian Economic Update My Comment: Who could blame Australians for perceiving professionals of the calibre of Ken Henry, unable to find clinically sane politicians in their Govts, ……. with whom such professionals may engage in competent dialogue of economic management, …….. where such politicians are actually able to comprehend fundamental dynamics impacting the Australian economy? Yes, the reckless economic gambling successive Govts of both major parties keep pursuing within their domestic economic policies, …… for no other primary reason than to promote their ‘intrepid economic genius,’ ...... that coincidentally bolsters their electoral ‘stocks,’ ……. but recklessly disregards dynamic evidence revealed from constant global macroeconomic data, ……. continues to require such irresponsibly feudal, venal, cultural policy attitudes to be strongly censured by the Australian electorate! For example, economic policies such as the Gillard and Rudd Govts designing of competent response to disability issues, alike the NDIS, ……… but predicated upon the revenue from a mining super-tax [also recommended by Ken Henry], ……. that incomprehensibly was never going to materialise, ……. thanks to its incompetent implementation, ....... that effectively invited its blocking by the same dynamically feudal, venal attitudes of Australian mining industry market leaders, ……. and supported by the current Abbott Govt when it was in Opposition, ……. is an outcome so predictable of its incompetent economic mindlessness, as to beg the question of these politicians clinical sanity? …… And if you think this analysis ‘a bit harsh,’ ……. try competently, ethically, and economically, justifying the paid parental leave scheme constantly promoted by the current Abbott Govt, …… and further, …… its economic ‘Alice in Wonderland’ policy intention to remove current, and perfectly competent fundamental provision for regulating financial planners [‘advisers’], ……. that restrains further ‘carpetbagging’ within such industry, ……. alike that which ‘burned’ the haplessly innocent investors of scams such as the Storm financial scandal. In fact the current spin of the Abbott Govt, is laid thick with such economic sophistry [re: report link below] such as that being peddled by the Asst Treasurer, Arthur Sinodinos, ……. as observed as classic a ‘Greek tragedy’ as the ongoing impacts of the GFC, Greek economic meltdown! With an ideological and political pedigree observed a bulwark of Australian ‘Western conservative,’ extreme right wing economic fundamentalism, ……. this no. 2 Australian Treasurer would actually have us believe, the definition he implies of the ‘economic hazard’ of the failure to observe a ‘level playing field’ within the financial planning [‘advising’] industry, …… must inevitably lead to economic rack and ruin? Now if such unsubstantiated economic rubbish ain’t demonstrated the scary end of irrationally duplicitous, ‘economic management by illegitimate capture,’ …….. hang onto your hats people, …… “Australia is open for business.” Yep, the art of ‘economic assimilation’ that claims nebulous economic theory such as a ‘level playing field’ for financial planners, ……. was observed never more ‘eclectic’ of its obvious sophistry! {Extract from Lateline link Transcript; “EMMA ALBERICI: Now Labors reforms were designed to ensure people get appropriate financial advice. Why are you rolling back those consumer protection laws? SENATOR ARTHUR SINODINOS: I dont believe were so much rolling back the laws as clarifying them and how theyre going to apply in a number of cases. The essential consumer protections remain. Were removing some uncertainty over, for example, how the best interest duty applies and that uncertainty will actually hopefully make it better in terms of its application as a general duty for financial advisers to put the interest of clients ahead of their own. So I dont see it that way. I know theres been a lot of debate around the different models in the sector and am I trying to favour one model over another and people say well because you worked in a bank doesnt that mean you would favour one model over another? What I tried to do, and I said this at the beginning of my time when I became Assistant Treasurer, and it was in a slightly different context, my view was we create a level playing field and let the different models, whether its the sort of models based on banks, retail financial institutions, industry funds, independent advisers and others, then play it out. But have some transparency and choice and then let the client basically be the one who makes the choice about what they do and how they do. I appreciate fully the concern people have around conflicts of interest, conflicted remuneration. The whole point of FOFA was essentially to create a regime to try and protect consumers to the extent possible of issues of conflict of interests by advisers. Where I think theres a conflict of interest, its one thing to say that where personal financial advice is being provided weve got to make sure that the best interest duty applies as comprehensively as it can. The complication with the prohibition on whats called conflicted remuneration for general advice was always that it was potentially going too far and it was capturing whether it was TV advertisements, website designers, anybody who might contribute to the promotion of a product, OK.” - End of extract.} I suggest if you ask Mr Sinodinos to define the primary dynamics of the ‘financial and economic hazard’ supporting such economic theory as he purports, ……. you may immediately find such economic debate plunged into the amorphous political tactic of dissembling! …… So as realistically inevitable, …… this morning we observe media reports calling for requirement of Australian infrastructure investment, ……. the same investment that went precariously missing during the reign of the former Howard Govt, ……. as predicated upon the incredibly naieve [or deceitful] assumption the ‘market would provide for itself, its own infrastructure,’ ……. that follows the same moronically feudal economic myopia this current Abbott Govt, ……. his sidekick Treasurer, Joe Hockey, …… and ‘shotgun riders’ no. 2 Treasurer, Arthur Sinodinos, ……. with Finance Minister Mathias Cormann, …… riding as ‘lookouts’ in the rumble seat, ……. as all collectively determined with their Govt, …….. to further exploit such irrationally intransigent contempt for competent economic management, ……. and for no other purpose than to glorify their obsolete feudal Western cultural construct, …… that defines their illegitimate entitlement to rule as an autonomous, minority class elite, ....... that perpetuates its unbalanced as deranged, Western colonial, industrial, monocultural dominance! Oh yeah, …… and for those ‘toying’ with the colonial potential of ‘assimilating’ the current media heralding of the ‘economic genius’ of NZ, …… I suggest they competently analyse its underlying economic fundamentals, ……. its child poverty rate officially identified of 25% [1 in 4], …… and the profile of its PM, a former executive ‘headkicker’ with Merrill Lynch, ……. the global investment entity observed significantly exposed to the impacts of the GFC, …… by virtue of its financial participation and involvement in the creation of that climactic global economic event of such reckless financial pursuit, ……. and further, not to mention his significant offshore personal investments. Yeah right, …… “Australia is open for business,” ……. same old ‘Western funny money economic business!’ ‘21st Century calling Australia, …….. please respond to your economic reality check, …….. hello, ……. is their actually anyone comprehensible in command there? …….. abc.net.au/lateline/content/2014/s3961375.htm
Posted on: Thu, 13 Mar 2014 02:57:27 +0000
Trending Topics
Recently Viewed Topics
© 2015