Prospect of reaching poverty reduction targets 'looking bleaker' - ABC News (Australian Broadcasting Corporation)

Prospect of reaching poverty reduction targets 'looking bleaker' - ABC News (Australian Broadcasting Corporation)

My comment to this is:

The main cause of the global financial crisis is greedy people who have taken all the money. Look to the richest 100,000 people who own the machinery of automation, the large corporates, and the weapons and high tech infrastructure. If they have taken the wealth, then obviously everyone else has less or none. There is only a finite amount, and if its not shared someone HAS to miss out. It's not rocket-science, it's very very simple. The World Bank & IMF are merely stating the logical consequence: there is no free money any more to go to the poor. And diplomats the world over get paid decade after decade to fly hither and yon, stay in swank hotels, meet and talk about it and then go home again to prepare for the next meeting. What is going to BREAK this cycle?

CBA exec pay cut plan 'has sting in its tail' - ABC News (Australian Broadcasting Corporation)

The CBA exec pay cut plan 'has sting in its tail' news item includes this little gem:

"I welcome that and it's open to other CEOs to follow in his footsteps. We all have to pull together in these difficult times."

So a 10% pay cut is their idea of 'pulling together'. Tell you what mate, if you were in my rowboat, you would not be pulling anything together with us, you would be dog-paddling instead, after walking the plank.
I think a 25% pay cut might be called 'pulling together'. 10%: what an insult. What planet are you pigs on. You have obviously been in the trough so long you don't have a clue about the world beyond it.

Telstra functional separation costly | Australian IT

Telstra functional separation costly | Australian IT is yet more idiotic comment from an idiotic media source that cannot report beyond the view of its entrenched interests at the big fat lazy self-serving corporate end of town. In this case they fail to take into account the huge ongoing cost of the Telstra setup as it is. Fixing the currently deeply flawed Telstra setup WILL cost money. The government should hurry up and bite the bullet, do it and get over it, so Australia can move forward. Instead they still seem to be either in denial of the obvious or just too weak to do anything about it.

My own SEQ Regional Plan Submission

The petition at Stop the Government from populating the life out of South East Queensland! is a horrible and misguided attempt by what must be a bunch of selfish yuppies or lunatic pseudo-greenies who have no real interest in the environment beyond their own rat hole.

My version, a quick rewrite of the original, follows:

South East Queensland is already under severe stress due to overpopulation. All our major problems are due to having more people in the Region than man-made resources can support. Infrastructure needs to be developed in a timely fashion to support the expected increase in population. I make my submission under the following headings of the Draft SEQ Regional Plan 2009-31:

PART D section 1: Sustainability and Climate Change
1. Overpopulation and overconsumption of the world’s resources are the root cause of Climate Change. This however has nothing to do with people's wish to move to SEQ.

PART D Section 2: Natural Environment
2. SEQ’s biodiversity is among the highest in Australia; population growth is threatening koalas and other wildlife with extinction ; protect our remaining open space for wildlife and public recreation. Plan and develop limited areas, eg Southport and others with medium and high density residential and commercial buildings, to keep population sprawl from designated recreation andopen spaces.

PART D Section 3: Regional Landscape and Section 5: Rural Futures
3. Almost all SEQ’s remaining open space, farms and bushlands must be protected for future generations. There must be a plan to permanently protect these areas.

PART D Section 4: Natural Resources
4. Overpopulation / overfishing is causing the collapse of the Moreton Bay fishery; the commercial and recreational fishery will collapse entirely if it is allowed to continue.Fishing needs to be more tightly regulated, and banned completely in many areas.

PART D Section 6: Strong Communities
5. Overpopulation is changing the identity of some towns, villages and communities; community spirit and traditional bonds are being lost. Community services cannot keep pace with the demand need to be strengthened.

PART D Section 8 & 9: Smart Growth / Economic Development
6. Basing the region’s economic wellbeing on building houses does not equate to offering the people of SEQ full employment aboard the Titanic. However we also need new jobs in green 21st Century industries.

PART D Section 10: Infrastructure
7. We must provide hospitals, schools, transport, water and energy to any growing population. We who are here now need to plan for and welcome new inhabitants, and never adopt any self-centred selfish 'I was here first, so you can go away.' attitude.

PART D Section 11: Water Management
8. Don’t ask us to reduce water consumption, but rather plan and develop appropriate water supply.

PART D Section 12: Integrated Transport
9. Our roads, trains and buses are overloaded and failing now; transport systems will collapse under another 1.3 million people; the government must act now to plan and develop the infrastructure for this many people.

PART F
10. Regulatory provisions must be rewritten to protect the environment.

Linux: Best-Value Solution for School Laptops Programme Launched

Cybersource: Press Release: "Linux: Best-Value Solution for School Laptops Programme Launched (10th of DECEMBER, 2008)

The Australian Federal and State governments have announced programmes to give school kids laptops. However, there are ongoing cost and deployment issues, which are causing these programmes to be delayed or stopped. In response to this, Cybersource has prepared a free, Linux-based solution, for use by Australian Schools, which makes it possible to bring one million new laptops to Australian school children.

'It's a simple proposition; we've prepared an open solution which delivers the best-possible value to education for netbook or laptop roll-outs,'"

This is an excellent article that clearly explains why there is NO EXCUSE for educational institutions throughout Australia to continue to push Microsoft Windows, when they should be getting smart, saving a considerable amount of money, and switching to a Linux/open source solution.

Fool and clowns

The older I tell you that I get, the more I understand,
the more I want to speak out loud that its getting out of hand,
the less I am inclined to speak, as few people want to know,
unless it fits in nicely with where they already have to go.
So leave them standing where they're at, happy in the snow,
slipping towards the precipice, no will to turn around,
glazed with smile on happy face, as happy as a clown.

But I'll tell it and think it and speak it and breathe it, And reflect it from the mountain so all souls can see it, Then I'll stand on the ocean until i start sinkin', But I'll know my song well before i start singin',
(Thanks Bob)

Automation was the answer and it should have served us well,
but most got shifted to the back, they mostly fought and fell.
The internet should be helping the message of the fool
but the noise ratio is far to great and bluntening the tool.

Who is driving the horses, who's ringing the bell,
its still the Rasputin the preacher, with the same stale deathly smell.
See where he's led you, open your eyes and you can tell,
Its not where you will like it, you ain't doing so well.

And the fool on the hill sees the sun going down,
and the eyes in his head see the world spinning round.
(Thanks Paul)

The Luddites were always close to right, and so was Isaac Newton,
Every action has an opposite and equally bad reaction.
"The West is the best" Jim said as he went out that way,
Leave to the diplomats, don't stop them in their play.
I'm waiting for the fix to this poverty; it know it can't be bitter,
the minutes of the meeting will be posted up on Twitter.
As heads is tails you call on Lucifer, but its Murphy that really rules
and what you need in this chicken new world now is a lot more fools.

Try to get it while its hot, this offer will not last
The storm is finally rushing in, I can hear its blast.
Look to your future, the answers are in the past,
Better start to wizen up, your ice is melting fast.

Killing to help

The family of an Australian soldier killed in Afghanistan on Sunday night says he joined the army because he wanted to help people.

I thought the army is where you join up to kill people. I can think of many jobs that help people: doctors, nurses, police, politicians, dozens of different community groups like lifeline and the Salvos, even many religious groups supposedly try to help people. I do not oppose Australia's involvement in Afghanistan, but to emphasize a soldier's desire to help people by his going off and shooting people in Afghanistan seems somewhat bizarre.

Victorian Premier John Brumby paid tribute to Private Sher.

"I guess this is the price that families pay and that we all pay for defending Australia," he said.

I think it would be very helpful if people stopped referring to waging a war in a foreign country as 'defending this one'. This really sounds like political spin. Yes I know WWII was arguably different, but let's try to move with the times. I find it hard to believe that, since WWII, heading off overseas to join a conflict in any country has stopped any invasion of Australia. I would rather see the government here draw a line in the sand around Australia's borders, and get really tough on any imported troublemakers here, without getting too carried away with other countries' problems.

My Global Economic review, mate.

After another month of quietly watching the markets, Fox Business News, etc, and generally trawling the internet time to throw in my 2c worth.

• You soon get to figure out who on Fox Business is a 'reporter' and who has some idea of what is going on. Very few actually know what is going on; the majority are just rabid rabble making noises. Most technical analysts are not worth ever listening to anyway, but now is the worst time. Technical analysis is mildy useful at best of times, snake oil at worst. Right now its almost completely useless, as they, like most commentators, do not understand that the entire western economic model is broken. They keep banging on based on their models of cycles from the last epoch, which is always the only basis that economic models can be devised from. What none of them realise is that global warming and resource depletion now needs to be factored into their models, and these issues will completely change the models. Current cycles are out. Remember "peak oil": last year's media buzzword. Anyone would think that it and global warming simply evaporated. They have not, and the only thing that might evaporate if we do not start thinking clearly and more broadly and globally, and modelling accordingly, is us. Also, it would be great to stop asking the same question over and over again: "Are we at the bottom yet?" They sound like the kids in the back seat the minute you leave your driveway: "Are we there yet?". "No, and we will not be for a long time yet, OK. So stop asking."
  
• Many people finally coming to realise that the root cause deeper than the US housing mortgage market. It lies in a fundamental issue of freedom aka "The American Dream", aka "I'm alright Jack", "Money is Power", "Greed is Good". Corruption is and has always been at the heart of the American system and to a degree the western conservative democratic system. This is a system whereby those at the top earn tens of millions p.a. while other workers earn then thousand times less, and in wanting to partake in the system that supports the billionaire, and average pleb all get into debt in sufficient volume that the whole system got put under strain. What kicked it over was an entire industry of gamblers, aka 'Investment Banks' etc, propped up by corrupt politicians who let them gamble away and bleed the system dry with dodgey financial instruments in the 'credit derivative' market: a phoney market that included "Credit Default Swaps" a fraudulent form of insurance, but so named to avoid insurance regulation.
  
• When the financial system collapsed in September 2008, public money was sent to the greedies whose finance houses failed, on pretexts that it is actually the public being saved! and that they the public might gain in the long run ("Thanks for your cash, sucker, it will be good for you one day, I promise."). Next other failing companies began lining up for a handout, in a domino fashion, as they had all moved over the years to a model of business via borrowings instead of business via actually owning assets and cash. "Please, " they say "we are broke. Can we have some money?" If they look viable, give them a loan, never a handout. If they are not viable, no matter who they are, let them stop. Let others replace them, and accept any short term disruption. "Survival of the fittest" is a fundamental law of nature, that we tinker with fundamental laws at our peril. In the long term, propping up failed systems will only harm us.
  
• This week the American car makers arrived at Congress via private jet, to beg for bailout of their hopelessly badly run companies, that persist in making last century's vehicles. The trouble was, they were so incompetent that they forgot to arrive with any good figures or a plan. How come these bums do not get fired? Because that is the way the system works, mate. It works nicely for them, mate. It keeps them flying. Plus, they can apply a blackmail argument that they are at a focal and therefore indispensible point within the economy where a large percentage of the workforce is currently dependent on their survival.
• Events move fast these days. These are the days of the internet, global communications, and millisecond response times across the planet. The trouble is that many people, particularly all those that work in institutions of any kind, cannot act with sufficient speed. Our institutions, from the UN to governments, are great places for noise and meetings. But are their systems too riddled with inertia and malaise to respond adequately to events.
  

Wall Street's 'Disaster Capitalism for Dummies'

By Paul B. Farrell, MarketWatch

"Wall Street's Disaster Capitalists screwed up, likely planned or let happen this meltdown and recession. Yet America's clueless taxpayers just reward them by giving the screw-ups massive bailouts, control over more than $2 trillion of tax money, and the power to clean up the mess they made."

...

"America is no longer a democracy. Voting is irrelevant. Best case scenario: We're a plutocracy, a government ruled by the wealthy, the richest 1%, the Forbes 400, the influential wealthy elite, while the other 99% are their "servants." Meanwhile, the inflation-adjusted income of wage-earners has declined for three decades."

Read the entire post.

Credit Default Swaps - 'Weapons of Mass Destruction'

In the world of corporate spin and greed, this might be the Grandaddy of all nefarious cons. If this is how the greedy rich get richer, perhaps its time for an entirely new system.

In related news:

1. Apparently Global Warming is being put on hold until the global economy is straightened out.
2. The next episode of 'The Universe' on the 'History Channel' apparently includes more fantasy by our 'leading' boffins about humans needing a second home on another planet. This I gotta see.... more later.
   

Good to see that the inmates are still running the asylum.

Who is Barak Obama?

This looks interesting: read Comment by Lynda: October 8th, at 1:32 am - a comment on Gretawire.
Your homework today is to go read or watch The Manchurian Candidate.

Fox: good for a laugh

Watching the cable news channels over the past few weeks, its not hard to draw these conclusions about Fox "News" Channel:

1. Almost all Fox reporters are extremely Republican biased, and often their attempts at any sort of balance still involve subtle & less subtle bias, eg arguing & being negative with Democrats far more so than with Republicans, cutting them off mid-sentence, & attempting to ridicule them at every opportunity. Of course they would vehemently deny this, but that just reflects how blinded Americans are to their preferred party. If you are an independent American or a non-American (the other 96% of the world) you just need to watch it yourself.
   
2. Their slogan is "Fair and Unbiased". That would be like Hitler's Nazi Party having the hide to use "A fair go for the Jews".
3. There are laws in the USA about declaring political contributions, and about party advertising. The Fox budget ought to be included into the Republican and McCain campaign declarations.
   
4. Bill O'Reilley is reasonable entertainment, but as a serious commentator is little more than a bad joke.

The Economy: Australia 1, USA 0

In the USA:

1. Absurd levels of housing loans were extended for many years to people who could never afford them. These people cold be excused for hoping that the mortgages would be a better option than spending similar amounts on rent.
2. Rampant credit equals high debt levels, and feeds into high house prices as easy money and more buyers force prices up. The higher the house prices, the more credit and thus debt ensues. This vicious circle spiralled out of control.
   
3. No laws of oversight were set up, for instance to prevent lenders from promoting untenable loans in order to collect commissions.
   
4. Politicians supported this system for personal gain: both in monetary kickbacks from lenders and to retain office.
5. The system, the economy, collapsed when the straw of a petrol price surge broke the camels back.
   
6. A bill that many of the public and politicians themselves accepted as bad got passed. Many politicians had little comprehension of the economic issues, abdicated all leadership, panicked, and voted 'to do something'. The bill will firstly help the rich and the powerful. The ugly side of the 'American Dream' is evident for all to see. It seems second-nature for their rich and rampant capitalist leaders to make things work for themselves first. Yet again their poor will get the crumbs at the table.
7. American banks have no confidence in each other's robustness, so are currently unwilling to lend at any rate. Therefore rate cuts would be pointless.
8. The USA is headed for a depression. Whether their political system can serve them and what mayhem might result is entirely a matter of conjecture at this time. However if the highly partisan political views as expressed on the Fox newschannel, and those reported in their legislative assemblies is any indicator, then it seems highly unlikely that sufficient sensible and logical thinking will prevail that might lead them to make sane laws to lead them back to prosperity for a very long time.
   

In Australia:

1. Financial system regulation has been well maintained for decades, so there has been less excess in lending compared to the USA.
2. Political corruption seems to be much less rampant than in the USA.
3. Housing price increases have been somewhat more sedate, as mortgage rates and conditions have been set sensibly.
4. Our financial system, and banks, have remained sound. Recessionary pressure mostly results from an expected drop in value (price and volume) of exports to trade partners in Asia who are already in recession or expected to head that way, due to their exposure to the USA. Australian recessionary pressure is therefore somewhat indirectly attributable to the expected deep recession in the USA.
5. The Reserve Bank of Australia has acted decisively today to cut interest rates by 1%. This ought to help counter our possible slowdown. This is appropriate for Australian circumstances, but is not a suitable action for the USA to take.

• The scorecard so far: Australia 1, USA 0
  

On the passing of the US Bailout Bill

Further thoughts:

1. Many people, including congressmen who voted for it, are saying that this was a bad bill but they 'had to be doing something'. To them I say 'Wrong. You need to be making good decisions, not "any" decision. A bad bill is worse than doing nothing, not better. Taking a step backwards is not progress. Never confuse frantic activity with progress.'
2. Like in many institutions I have been in, once people focus on one idea, other better alternatives that appear later get shunned, and people proposing them are often labelled 'out of step' or 'troublemakers'. However in the history of mankind, all changes start with one 'out of step' person, who is often misrepresented and/or shunned, as the thundering herd heads for the cliff. The herd is impatient, and like lemmings, take great comfort in all running the same way.
   
3. I have a lot of respect for those who votes against this bill on the grounds that it will not fix the problem, but will bail out failed corporates and mortgagees who mostly ought never to have had loans in the first place.
4. I am disappointed with both Presidential candidates who have shown no leadership, in following the herd, when they both know that this is a bad bill. They especially ought to have put up alternatives. Either could have suggested solutions whereby the loans remain where they are. However neither would do this for fear of becoming the owner of the problem. They decided to hide in the herd.
   
5. Perhaps I should let them read the essay I wrote in late 2001 pointing out a core problem with the western economic model that I still think is at the heart of their problem. I am still not sure they are ready for that though. Certainly the talking heads of the US legislature & the cable news channels seem incapable of extending their 3 to 10 second soundbytes more than one step beyond the obvious symptoms.
   
6. I expect the stockmarket will nosedive this week, probably beginning Monday 6th. Irrespective of short-term swings, the trend must be down for a while yet. The question is how far. In the interests of preventing panic I shall keep my thoughts to myself. As a student of history though, its hard to ignore its lessons: All empires come and go, and many collapse very quickly when the rot surfaces.
7. I hope the USA does not tear itself apart over this. I think they are too civilised for this to happen. More likely, if Obama is elected:

• They will cut back on the military budget (erroneously spun as 'defense' when its really for offense) and so put out of and lose military influence and presense in Iraq and Afghanistan. A weakened USA might create a power vacuum and problems in many countries, and Russia, Iran, and many 'terrorist' groups might flourish. Perhaps a great counter for this would be for the USA to follow the USSR into oblivion, replaced by up to 50 new countries. It would be hard for so many other entities to be at odds with a country that does not exist. Or perhaps the flag should not be waved so vigorously in the face of the rest of the world. I pointed this out in late 2001 as well. Many people do not like it.
  
• or Obama will be neutralised by the same type of shadowey figures that had been behind such acts as having Kennedy assassinated, helping the Taliban supply heroin to US GIs in Vietnam and elsewhere to finance the Taliban against Russia in Afghanistan, hiding behind the Bushes and pushing them into Iraq to keep their munitions and oil businesses going, coordinating the 9/11 destruction of the World Trade Centre buildings and firing a missile into the Pentagon, etc ,etc.
  

US elections and economic woes

I must have just watched over 100 hours of news about the US & global economic meltdown, and the US Presidential election, on CNN, Fox, BBC, & Australian Business Channel cable TV, since mid September. What did I get out of it?

1. The US meltdown was initially seen as being a problem with subprime mortgages. It took days for commentators and 'experts' to announce that this is merely a symptom. The real reason is a combination of greed in financial institutions and borrowers, and systemic failure to have adequate controls in place that allowed rampant high risk loans in an economy that does not produce sufficient real wealth to cover it.
   
2. The current bill before the US Congress is a dud. Some in the US have clearly stated during its first passage that its focus is all wrong, yet still it blunders on. This reflects poorly on the US system of government. The real losers will be democracy, the USA & the world at large. The American public do not want the ownership of bad loans switched to the government. This will burden them, be relatively expensive & inefficient to administer & let the perpetrators of the problem, as seen by the public, off the hook. However once the core of the first bill was put up in the House of Representatives it seemed that no significant alternatives could be heard. The American public is being ignored. The Senate passed the same bill that the House of Representatives rightly voted out, with some stupid politically-inspired addons, most of which will anger the public even more, as they are seen to be treated condescendingly.
   
3. If the current bill passes the House of Representatives the second time round, the measures might give some brief but passing respite, but will not fix the problem long-term. The American public and global stockmarkets seem to already know this, but American politicians seem to be in marching like lemmings in lockstep along the cliff.
4. Irrespective of the outcome in the US legislative assemblies, the broader issue of fixing an economy in the face of environmental pressures is not being adequately addressed. Its as if when the chips were down, the global environmental problems got shifted into the too-hard basket. Barak Obama's ideas about focussing on alternative energy as a way to minimise dependence on hydrocarbons in his first debate was great. This has been ignored since then, whereas I believe there needs to be a strategic focus on it.
   
5. In summary, it seems to me that so far, the American system has proven to be incapable of making the hard decisions required to settle their economy, let alone do so in an environmentally sustainable way. In other words, the USA is broke, and its economic and political systems are as well.

I am sure I can find others who I think are on the right track.

• http://business.blogs.cnn.com/2008/10/03/will-the-bail-out-package-fix-the-economy/