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The Abbott Government

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SirRumpole said:
There were two dumb things about the mining tax

1> They spent it before they got it

2> They let the mining companies off easy, they should have gone in a lot harder.

People don't seem to realise that we have had an oil and gas RRT for decades and investment in gas is this country is booming.

Non renewable resources are always going to be in demand. Sure there are other countries that mine minerals but there is also a lot of demand. If we don't make the most of our resources before they disappear then we are fools. Which is a pretty good description of the current government.
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Simpler to just sell 5 year export quotas.

Could to a degree reduce the over production of resources, though if the capacity is built then not much benefit in idling it??

Sell quotas to the highest bidders.

Might have helped stop the likes of Roy Hill and FMG from their over expansion.

Could see Adani pack it bags rather than building at a breakeven cost of $70 a tonne for coal.

Somehow we've been diddled into believe the resource companies own the stuff when all they've got is a right to extract. WE OWN it and should have gotten a lot more for it over the last decade.
 
sydboy007 said:
Somehow we've been diddled into believe the resource companies own the stuff when all they've got is a right to extract. WE OWN it and should have gotten a lot more for it over the last decade.
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Exactly what Barnett has been saying.
The Federal LNP haven't backed him and Labor before them didn't back him.
Seems crazy to have a super profits tax, when they are offshoring their profits.
More intelligent to charge them for how much they extract.
 
noco said:
NB. Plod's disrespect for our Prime Minister is appalling and shows the hatred he has for Tony Abbott.
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Get off your soap box, boy.

Try these quotes for someone showing disrespect for the PM.

noco said:
The image of our Prime Minister, the right 'DISHONOURABLE' Juliar Gillard MP .
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noco said:
This fraud of a Prime Minister, Juliar, could not not lie straight in bed if she tried.
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noco said:
Juliar Gillard must be so dense and narrow minded I'm sure she can see through a keyhole with both eyes.
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Pot calling the kettle black.

explod is a decent bloke with more than his own self interest at heart.
 
Go back to whale watching ... zzzzzzZzzzzzzzzzzzz

029044-pot-calling-kettle-black.jpg
 
sptrawler said:
Exactly what Barnett has been saying.
The Federal LNP haven't backed him and Labor before them didn't back him.
Seems crazy to have a super profits tax, when they are offshoring their profits.
More intelligent to charge them for how much they extract.
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Barnett was out encouraging as much expansion and production as he could when prices were high.

Can see it with LNG as well.

Prob was Barnett bought into the $120 floor price, and mistook the massive increase in demand to build new ships and mines and infrastructure as permanent demand when it was reasonably transitory.

I was reading an article that is showing over 100 ships will be scrapped this year. At the peak of the ship building freenzy something like 43M tonnes was being delivered, now it's in the tens of thousands. 100M tonnes of steel demand in shipping alone is now gone.

Barnett is also crazy in giving the juniors a rebate on royalties. They're going to die. What's the point of propping them up when the I/O price will never remain high enough to make them sustainable? The more you support uneconomic production, the more we lose.

Also remember it was the current resource minister Ian macfarlane pretty much said on getting into office "We've got to make sure that every molecule of gas that can come out of the ground does so." He's also out still pushing for increased CSG on the east coast, yet wont ensure it's reserved for local use, so any increase in production is shipped out the country.

From David Uren at the Australia

Sino Iron’s $10 billion mine on Clive Palmer’s leases in the Pilbara has got its production costs below $US100 a tonne for the first time in the past few months, but they are still double the prevailing iron ore price.

Consulting firm AME lists Sino Iron as the world’s highest- cost operation supplying the Chinese market in seaborne trade. The firm counts only the mine’s variable costs such as wages, processing and transport. Adding in the capital charges could easily double its costs.

If Atlas Iron with production costs of around $US60 a tonne is in trouble, Sino Iron should be mothballed. There is no obvious economic justification for keeping it going. The mine’s continued operation says much about what is wrong with the iron ore market and also flashes danger signals for the outlook for the Chinese economy.
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Rumour has it there's been some activity around FMG. Possibly the Chinese are looking to prop him up. If China can engineer enough backdoor support to keep FMG going then it will have effective control of 200 million tonnes of Pilbara iron ore and it is game over for the iron ore price permanently.

Do you really believe Abbott would have the balls to say no to the Chinese if they made a take over offer, or at least asked for majority ownership of FMG?
 
sydboy007 said:
Barnett was out encouraging as much expansion and production as he could when prices were high.

Can see it with LNG as well.

Prob was Barnett bought into the $120 floor price, and mistook the massive increase in demand to build new ships and mines and infrastructure as permanent demand when it was reasonably transitory.

I was reading an article that is showing over 100 ships will be scrapped this year. At the peak of the ship building freenzy something like 43M tonnes was being delivered, now it's in the tens of thousands. 100M tonnes of steel demand in shipping alone is now gone.

Barnett is also crazy in giving the juniors a rebate on royalties. They're going to die. What's the point of propping them up when the I/O price will never remain high enough to make them sustainable? The more you support uneconomic production, the more we lose.

Also remember it was the current resource minister Ian macfarlane pretty much said on getting into office "We've got to make sure that every molecule of gas that can come out of the ground does so." He's also out still pushing for increased CSG on the east coast, yet wont ensure it's reserved for local use, so any increase in production is shipped out the country.

From David Uren at the Australia



Rumour has it there's been some activity around FMG. Possibly the Chinese are looking to prop him up. If China can engineer enough backdoor support to keep FMG going then it will have effective control of 200 million tonnes of Pilbara iron ore and it is game over for the iron ore price permanently.

Do you really believe Abbott would have the balls to say no to the Chinese if they made a take over offer, or at least asked for majority ownership of FMG?
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There is no win with you, is there? It is Labor all the way.

Seems pointless, putting up any suggestions, that any LNP members, Federal or State are worth anything.

Can't wait to see the next Labor fiasco unfold.:xyxthumbs

I rack my que.
 
sptrawler said:
There is no win with you, is there? It is Labor all the way.

Seems pointless, putting up any suggestions, that any LNP members, Federal or State are worth anything.

Can't wait to see the next Labor fiasco unfold.:xyxthumbs

I rack my que.
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Nope. Labor are generally complicit.

But how does anything get better when the current "leaders" are all about the NOW and sugar hit for the economy rather than the long term?

What's the point of encouraging further overproduction of our resources?
 
We constantly witness News Corp and it's drone worshippers complaining about Labor blocking all the wholesome goodness legislations of the LNP, but does anyone know the true scorecard of pass/fail ?

I did my own precursory check and there seems to be an error in what the we would be told and what actually is happening...might just be a bad data set I'm looking at.

It was Labor that blocked supply all those years ago in the seventies and started the whole distrust of the Empire Monarchy and obstructionist politics...wasn't it?
 
Macquack said:
Get off your soap box, boy.

Try these quotes for someone showing disrespect for the PM.





[/B]

Pot calling the kettle black.

explod is a decent bloke with more than his own self interest at heart.
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What took you so long comrade?

How do you relate Abbott with Rabbit?.....just disrespect

How do you relate Julia Gillard with Juliar?...Very simple....."THERE WILL BE NO CARBON TAX UNDER A GOVERNMENT I LEAD"........

And yes she should could not lie straight in bed.

"There will be no challenge to Kevin Rudd's leadership"..."I SUPPORT HIM 100%"...Then Gillard knifed Rudd in the next 24 hours after she said it.......Disrespect?...NO.....It is fact you and your comrades cannot deny.

And what about her association with Wilson and the AWU?...Why did she get the sack from Slater and Gordon?

My quotes were very fitting of Julia Gillard.
 
I think its very bad news for the Liberal party that poll numbers have improved.
If Tony Abbott is still the leader next election then they have no hope of getting in.
I am a natural Liberal voter and I will never vote for him again.
 
From the AFR

Chinese-linked companies have applied to the Foreign Investment Review Board seeking permission for an investment involving Fortescue Metals Group.

Australia’s third-largest iron ore producer has held discussions with China’s largest steel producer, Baosteel, and China’s largest conglomerate, CITIC, about a recapitalision to shore up its balance sheet.

It is unclear if the applications to FIRB are from CITIC or Baosteel but sources said there is interest in Fortescue from one or more companies which are Chinese or part-Chinese owned.
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I hear on sportsbet it's already an odds on favourite for Hockey to wave it through. When the thoughts at Liberal HG will be on the media cycle:

* Govt allows thousand of FMG jobs to go in collapse

or

* Chinese investment saves thousands of FMG employees with the promise of increase jobs in the future.

If the Liberals are truly worried about the ToT and long term price of I/O then allowing the Chinese any form of controll or propping up of FMG would see a very long term price at close to the cost of production for BHP and Rio. Not much in the way of profits. Heck, allowing any mine to run long term at a loss is against the national interest.
 
sydboy007 said:
From the AFR



I hear on sportsbet it's already an odds on favourite for Hockey to wave it through. When the thoughts at Liberal HG will be on the media cycle:

* Govt allows thousand of FMG jobs to go in collapse

or

* Chinese investment saves thousands of FMG employees with the promise of increase jobs in the future.

If the Liberals are truly worried about the ToT and long term price of I/O then allowing the Chinese any form of controll or propping up of FMG would see a very long term price at close to the cost of production for BHP and Rio. Not much in the way of profits. Heck, allowing any mine to run long term at a loss is against the national interest.
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The problem is Syd, if they wave it through, you and all the Laborites will 'bag it'.

If they knock it back, you and the Laborites will 'bag it'.

You're lack of balanced comment, de values, your otherwise excellent posts.IMO
 
I see now, the LNP want to make maths and science compulsory, in year 11 and 12.

http://www.news.com.au/lifestyle/pa...ience-in-year-12/story-fngqim8m-1227368782277

Where will it end? The Government are so out of touch, don't they know how hard those subjects are?

Also how difficult will it be for the universities, to gear up again, for students that aren't illiterate and have mathematical ability.:D

Someone needs to remind the Government we are interested in quantity, not quality.:D

Just ask Bill ,and the teachers union.IMO
 
sptrawler said:
The problem is Syd, if they wave it through, you and all the Laborites will 'bag it'.

If they knock it back, you and the Laborites will 'bag it'.

You're lack of balanced comment, de values, your otherwise excellent posts.IMO
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西勒勒杰 哦伊艾哦 弗伊艾伊艾诶哦勒艾 勒艾杰艾艾伊

You better get used to reading this type of response, particularly if you live in W.A.

So what is your position on this issue sptrawler, let us know, so we can "bag" you also.
 
Macquack said:
西勒勒杰 哦伊艾哦 弗伊艾伊艾诶哦勒艾 勒艾杰艾艾伊

You better get used to reading this type of response, particularly if you live in W.A.

So what is your position on this issue sptrawler, let us know, so we can "bag" you also.
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Well as I've said for a long time, Barnett has been saying, what Syd is saying.

The resources belong to us and we own them, it is just unfortunate Barnett is LNP.

This automatically causes a spray from loonie left and Fairfax.:D

Being 'bagged' by you doesn't bother me , being bagged by Syd bothers me more.

At least he has a sensible measured argument, some I agree with, some I don't.

Your's seem to based mainly on emotion, rather than sensible analysis of the issue, so 'bag away .


It really is time for people to start and understand, we can't keep going the way we are, those on welfare will end up worse off.
Labor can talk it up as much as they like, they did sod all to when in office, now they want re election on a trust us basis.

It is just dumb, they stuffed up when in government, I'll need more than Bill is offering to belive they have improved.
 
sydboy007 said:
Nope. Labor are generally complicit.

But how does anything get better when the current "leaders" are all about the NOW and sugar hit for the economy rather than the long term?

What's the point of encouraging further overproduction of our resources?
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You really sometimes, need to sit back and take a breath, try to be objective.

So much ability, wasted on so focused a hate, distorts reality. IMO
 
drsmith said:
One of the options on the survey in the article is for year 12 only and 16 dills have given it the thumbs up.

On dills and economics, GST and tampons shouldn't be mentioned in the same sentence. That's the kind of thing Labor would suggest.
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We really are being driven, down a path to the lowest common denominator, doc.

When everyone is in abject poverty, we can all rejoice at being equal.:xyxthumbs

There is an old saying: "You can't bring someone up to your level, you can only go down to theirs".

It is so true.
 
Just thought I would let members know that the Tax dept will start looking at sole traders come July. They have already been onto me for details of our sole trader subbies for not declaring the GST component and paying income tax on same....(that means I have to pay the GST + 10% on top of the 10% I already paid).

Obviously I only use PTY LTD subbies now.

And you know that $20k full depreciation thing, well it opens up a tax trail and please explain for the tax dept too. Clever buggers:D
 
sptrawler said:
The problem is Syd, if they wave it through, you and all the Laborites will 'bag it'.

If they knock it back, you and the Laborites will 'bag it'.

You're lack of balanced comment, de values, your otherwise excellent posts.IMO
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I've stated that allowing the Chinese to prop up FMG is against the national interest.

How much more supporting to Hockey blocking them can I be?
 
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