The Abbott Government

[drsmith]

Well I'm pleased to see Shorten isn't a runaway threat to Abbott. Even Rudd would have done better than that!

The Greens have picked up a bit and 'others' presumably PUP are stable. Although just one poll that should be more of a concern for Abbott... the fracturing of the big two appearing to be a new fixture in Aus politics.

You'll be able to keep enjoying the humble pie for a while yet.

The only thing that is a concern for Tony Abbott at the moment is running the country which is much more than could be said for Labor during its time in office. I'd suggest the electorate is simply relieved that those currently in office are more focused on that than governing themselves.

It also seems that Labor is heading towards dumping its biggest albatross,

Labor is expected to support axing the carbon tax, with senior figures - including leader Bill Shorten - now convinced that its case for action on climate change will be more easily sold if the politically toxic tax is abolished.

http://www.smh.com.au/federal-polit...t-to-bury-carbon-tax-20131028-2wc8m.html#poll

The day Labor is on its knees to Tony Abbott in the people's house over their carbon tax will be a great day indeed.

 

[overhang]

I'd suggest the electorate is simply relieved that those currently in office are more focused on that than governing themselves.

Yes I think you're right but the relief is also that we don't have the continuous negative opposition in our face every day like we did, we also don't have a government having to negotiate support for every piece of legislation with minor parties. No government would have survived these conditions with the continual bombardment of an opposition hell bent on making life as difficult as possible for the government. The boats were also a major factor which were in the press every day and Labor had no one but themselves to blame for that.

It also seems that Labor is heading towards dumping its biggest albatross,



http://www.smh.com.au/federal-polit...t-to-bury-carbon-tax-20131028-2wc8m.html#poll

The day Labor is on its knees to Tony Abbott in the people's house over their carbon tax will be a great day indeed.

If this is the case then this actually shows great leadership by Shorten, given how Abbott was as an opposition leader I hardly think he would do the same if the shoe was on the other foot. But Shorten must also vote against the coalition 3 billion dollar waste that is the direct action policy.

Leading economists have overwhelmingly rejected Tony Abbott's direct action climate change policy and backed carbon pricing.

http://www.smh.com.au/federal-polit...on-sceptics-20131027-2w9va.html#ixzz2j49VFUxD

 

[Calliope]

Leading economists have overwhelmingly rejected Tony Abbott's direct action climate change policy and backed carbon pricing.

Yes. Direct Action will be just as stupid, futile, wasteful and ineffective in reversing climate change as unilateral carbon pricing has been.

 

[drsmith]

Yes I think you're right but the relief is also that we don't have the continuous negative opposition in our face every day like we did (As Tony Abbott said, it was a target rich environment), we also don't have a government having to negotiate support for every piece of legislation with minor parties. (Labor's choice.) No government would have survived these conditions with the continual bombardment of an opposition hell bent on making life as difficult as possible for the government. (See above about a target rich environment.) The boats were also a major factor which were in the press every day and Labor had no one but themselves to blame for that. (And yet there was considerable hyperventilation when the new government moved to weekly briefings which has since died.)

My blue.

If this is the case then this actually shows great leadership by Shorten, given how Abbott was as an opposition leader I hardly think he would do the same if the shoe was on the other foot. But Shorten must also vote against the coalition 3 billion dollar waste that is the direct action policy.

Leading economists have overwhelmingly rejected Tony Abbott's direct action climate change policy and backed carbon pricing.

http://www.smh.com.au/federal-polit...on-sceptics-20131027-2w9va.html#ixzz2j49VFUxD

The only thing Bill Shorten knows about leadership is how to skewer his own. Now he finds himself skewered by Tony Abbott's Electricity Bill comment and Labor is panicking accordingly.

As for direct action, I don't think Tony Abbott and the Libs will be too concerned about the fight over the scraps.

 

[overhang]

Yes. Direct Action will be just as stupid, futile, wasteful and ineffective in reversing climate change as unilateral carbon pricing has been.

Agreed

My blue.


The only thing Bill Shorten knows about leadership is how to skewer his own. Now he finds himself skewered by Tony Abbott's Electricity Bill comment and Labor is panicking accordingly.

As for direct action, I don't think Tony Abbott and the Libs will be too concerned about the fight over the scraps.

Perhaps you should give Shorten a chance to see how he leads in the same way we are currently seeing how the government performs, his decision is the right one and you certainly would be complaining if they voted against repealing it.
The reason the 'hyperventilation' has died down over the timing of boat arrivals is merely because the outrage has moved to Abbott's inability to act on these travel rorts.

 

[trainspotter]

IT would have taken quite a few years to rebuild the central bank's reserves without federal government help, governor Glenn Stevens says.
Treasurer Joe Hockey last week announced the government would inject $8.8 billion into the Reserve Bank of Australia (RBA) to strengthen its financial position.
The one-off grant followed a request from the RBA for money for its Reserve Bank Reserve Fund, which is used to partly offset assets at risk and enhance its monetary policy and foreign exchange operations.

http://www.news.com.au/national/bre...-reserve-stevens/story-e6frfku9-1226748873207

I thought I read in here that the RBA did not ask for this money? HUH? What gives? Then there was some palava about Howard taking 3 billion a year in dividends out of the RBA ? I thought it was the RBA's job to dividend back to the Commonwealth?

"This results in a stronger balance sheet on average, and makes it likely that a regular flow of dividends to the commonwealth can be resumed at a much earlier date than would otherwise have been the case." Glenn Stevens says.

Sooooooooo Hockey Ponzinomics is in fact impacting on the RBA's ability to enhance its monetary policy and foreign exchange operations?

Is this a good thing to have such a strong Reserve Bank having control of monetary policy like this?

In recent years the fund has been impacted by a high Australian dollar, leading to a decline in the value of the RBA's foreign assets and capital reserves to a level well below that deemed prudent.

So that's why they dropped interest rates to try and bring down the high Australian dollar. All makes perfect sense now doesn't it?

 

[drsmith]

Perhaps you should give Shorten a chance to see how he leads in the same way we are currently seeing how the government performs, his decision is the right one and you certainly would be complaining if they voted against repealing it.

Right decision or not, it's a very deep hole they've already dug for themselves on this.

Bill will have to be very good indeed to deliver Labor from the lowest primary vote in 100 years back to office. I can't wait to see the bile from the Greens should Labor ultimately wave through carbon tax repeal.

The reason the 'hyperventilation' has died down over the timing of boat arrivals is merely because the outrage has moved to Abbott's inability to act on these travel rorts.

That so-called outrage doesn't appear to be reflected against the government in the latest Newspoll. Perhaps the electorate is currently considering a broader perspective than something that taints both major parties when it comes to voting preference.

 

[overhang]

Right decision or not, it's a very deep hole they've already dug for themselves on this.

Bill will have to be very good indeed to deliver Labor from the lowest primary vote in 100 years back to office. I can't wait to see the bile from the Greens should Labor ultimately wave through carbon tax repeal.



That so-called outrage doesn't appear to be reflected against the government in the latest Newspoll. Perhaps the electorate is currently considering a broader perspective than something that taints both major parties when it comes to voting preference.

So let me get this straight, its the right decision but you still hold a leader who didn't introduce the carbon tax to contempt. I could only hope you're this critical of the current government but I believe your convictions will hold true to one cause.

I'm surprised by that result as everyone I've spoken to that has known of the issue has displayed their disappointment at Abbott's inability to act on the issue. Yes both parties are rorting the system but he is the man who can do something about it. Don't forget the honeymoon polls Rudd received in 2007, I wouldn't hold your breath.

 

[drsmith]

With regard to the government's recent announcement of an $8.8bn injection into the RBA's reserve fund, the relevant part of Glenn Stevens's speech today is below,

The high exchange rate has also had a significant impact on the Reserve Bank's own balance sheet. It led to a decline in the value of the Bank's foreign assets and hence a diminution in the Bank's capital, to a level well below that judged by the Reserve Bank Board to be prudent. This has been a topic of some interest of late. Our annual reports have made quite clear over several years now that, while this rundown in capital in the face of a very large valuation loss was exactly what such reserves were designed for, we considered it prudent to rebuild the capital at the earliest opportunity. It has been clear that the Bank saw a strong case not to pay a dividend to the Commonwealth during this period, preferring instead to retain earnings, so far as possible, to increase the Bank's capital. That rebuilding could in fact have taken quite a few years, given the low level of earnings.

That is the background to the recent decision by the Treasurer to act to strengthen the Bank's balance sheet, in accordance with a commitment he made prior to the election. The effect of this is that instead of it taking many years to rebuild the capital, it will occur in the current year. This results in a stronger balance sheet on average, and makes it likely that a regular flow of dividends to the Commonwealth can be resumed at a much earlier date than would otherwise have been the case.

The RBA last paid a dividend to the government in 2012 ($500m).

Mr Hockey says the former Treasurer Wayne Swan acted against the RBA's advice and took a $500 million dividend in 2012, effectively depleting the fund.

But Mr Swan has described the dividend as "modest", and said he would have agreed to top up the fund if a request has been made.

http://www.rba.gov.au/speeches/2013/sp-gov-291013.html

http://www.abc.net.au/news/2013-10-24/rba-annual-report/5042766

My bolds.

 

[drsmith]

So let me get this straight, its the right decision but you still hold a leader who didn't introduce the carbon tax to contempt. I could only hope you're this critical of the current government but I believe your convictions will hold true to one cause.

I hold him in contempt over his general trustworthiness. As PM's neither Kevin Rudd nor Julia Gillard could trust him so it's a very big ask for the electorate to do so. More broadly, the same point holds true for Labor over the carbon tax and its alliance with the Greens. Bill will be a fill in leader, nothing more.

I'm surprised by that result as everyone I've spoken to that has known of the issue has displayed their disappointment at Abbott's inability to act on the issue. Yes both parties are rorting the system but he is the man who can do something about it. Don't forget the honeymoon polls Rudd received in 2007, I wouldn't hold your breath.

Well, It doesn't appear to be reflected that way in the latest Newspoll which is perhaps a broader survey than the one you've engaged in.

As for Kevin Rudd, he proved to be a dud and yet Mr Unelectable has obviously proved to be very electable.

 

[overhang]

I hold him in contempt over his general trustworthiness. As PM's neither Kevin Rudd nor Julia Gillard could trust him so it's a very big ask for the electorate to do so. More broadly, the same point holds true for Labor over the carbon tax and its alliance with the Greens. Bill will be a fill in leader, nothing more.


Well, It doesn't appear to be reflected that way in the latest Newspoll which is perhaps a broader survey than the one you've engaged in.

As for Kevin Rudd, he proved to be a dud and yet Mr Unelectable has obviously proved to be very electable.

Trust and politicians cant be used in the same sentence as the travel rorts have demonstrated, perhaps you should try and be objective in judging Shorten and give him a chance.

Mr unelectable didn't win a election but rather Labor lost it, bit of a Stephen Bradbury. Hopefully his policy's and team around him can divert from his foot and mouth disease, the one that avoided Q&A for the whole last term. Now to address the incoming biased ABC reply about the stacked questions well a leader of Abbott's caliber should be able to handle difficult questions.

 

[Calliope]

Surely Abbott should be able to act now to de-legitimise the thuggery, lawlessness, stand-over tactics and general bastardy engaged in by the The Construction, Forestry, Mining and Energy union - the CMFEU, which were legitimised be the Rudd/Gillard government, in the Fair Work Act.

What's he waiting for...another mandate in 2016, for chrissake. A bit of backbone would be a help.

http://www.abc.net.au/7.30/content/2013/s3878777.htm

 

[drsmith]

Trust and politicians cant be used in the same sentence as the travel rorts have demonstrated, perhaps you should try and be objective in judging Shorten and give him a chance.

It's not a question of whether or not I give him a chance but one of whether the broader electorate does. He's going to find the going very tough there as a consequences of his own political history and that of Labor's toxic policies such as the carbon tax regardless of which way he ultimately turns.

Mr unelectable didn't win a election but rather Labor lost it, bit of a Stephen Bradbury. Hopefully his policy's and team around him can divert from his foot and mouth disease, the one that avoided Q&A for the whole last term. Now to address the incoming biased ABC reply about the stacked questions well a leader of Abbott's caliber should be able to handle difficult questions.

You better stock up your political bunker for the long haul.

I can see you're going to struggle with the idea of an Abbott government for some time.

 

[overhang]

It's not a question of whether or not I give him a chance but one of whether the broader electorate does. He's going to find the going very tough there as a consequences of his own political history and that of Labor's toxic policies such as the carbon tax regardless of which way he ultimately turns.


You better stock up your political bunker for the long haul.

I can see you're going to struggle with the idea of an Abbott government for some time.

Every government has toxic policies, this one already has the direct action and the paid parental leave policy.

I'll be satisfied if they quit the middle class welfare that the liberals in recent times seem to be renowned for. If they can reinstall consumer confidence that will hopefully lead to improved retail spending and increase in building approvals. If they can actually govern without the need to sell off government assets for short term gain. And yes if they can stop the boats to pre 2007 levels. Sadly I think I will be disappointed about some of the above.

 

[Whiskers]

The only thing that is a concern for Tony Abbott at the moment is running the country.

Not quite that simple dr. He's working pretty hard on how to re-spin some promises he is going to break a bit further down the track, such as how he's going to 'cut the waste' and rescue the 'economic crisis'.

But, so long as he puts the abolition of the carbon tax front and centre he will maintain popular support. He needs to get that done asap.

It also seems that Labor is heading towards dumping its biggest albatross,

I've no doubt Shorten is capable of a complete backflip on the carbon tax. He knows he needs to do that to completely undo the damage from his turncoat support for Gillard. It may even garner him a tiny bit more grass roots labor support.

Although it's only one poll, the fact that it's the same pattern, Labor continues to loose more support than Abbott gains, 2.3 points to 1.4 respectively, for me it spells another labor leadership spill sooner than later. The other number that suggests there will be a grass root Labor revolt is evident in the preferred PM numbers. Shorten got 28%.

Even if you give Shorten a more longer term split of the undecided (25%) along party lines, say half the undecided, 12.5%... guess what, you have about 40%. That's the same number of Labor membership that supported him in the leadership poll. That's a clear enough evidentiary trend for me.

But as it stands at the moment, Abbott has nothing to fear from Labor led by Shorten, and the Aus public and grass root labor might just gain the abolition of the carbon tax before dispensing with him. That would be a significant first step in natural justice for the embattled voting public.

 

[MrBurns]

Not quite that simple dr. He's working pretty hard on how to re-spin some promises he is going to break a bit further down the track, such as how he's going to 'cut the waste' and rescue the 'economic crisis'.

I think people are over all this now and just want to forget the past and get on with it, well, most people anyway, Tony Jones and the "Children overboard" and "Save Albert Park group" won't let anything go ....ever but no one cares but them.

They've had politics up the their armpits thanks to Rudd and Gillard and just want to be left alone while Abbott gets on with it.

 

[Whiskers]

Is this a good thing to have such a strong Reserve Bank having control of monetary policy like this?

In recent years the fund has been impacted by a high Australian dollar, leading to a decline in the value of the RBA's foreign assets and capital reserves to a level well below that deemed prudent.

So that's why they dropped interest rates to try and bring down the high Australian dollar. All makes perfect sense now doesn't it?

Not sure exactly what you are saying here TS, but for me while the US FED is behaving more radically like it is, to protect the "US economy', our RBA is either preoccupied with a too narrow interpretation of their charter or as I suggest, just biased to the Big L Lib philosophy, that they are not effectively (for the average Aussie) countering the economic and currency wars led by the US.

The proof of that will be our (delayed, not avoided) recession or at least slowdown, kicking in when our monetary policy should have done more to generate growth as opposed to just limiting inflation. This is the area I refer to where Abbott is working 'to re-spin some promises he is going to break a bit further down the track, such as how he's going to 'cut the waste' and rescue the 'economic crisis'.


Inflation is made up from a number of different drivers. They are manipulating these drivers to suit their Big L Liberal bias. Maybe I'll do a lesson on the drivers of inflation later.

--------------

Mr Burns, with regard to politicians... one thing people NEVER do is forget per se. They just go with the flow that sooths the pain the best... or for a few, the flow that reaps them the best rewards... BUT THEY NEVER FORGET a promise made or promise broken!

 

[drsmith]

Every government has toxic policies, this one already has the direct action and the paid parental leave policy.

Their nowhere near as toxic as Labor's carbon tax.

I'll be satisfied if they quit the middle class welfare that the liberals in recent times seem to be renowned for. If they can reinstall consumer confidence that will hopefully lead to improved retail spending and increase in building approvals. If they can actually govern without the need to sell off government assets for short term gain. And yes if they can stop the boats to pre 2007 levels. Sadly I think I will be disappointed about some of the above.

Clearly, any government will disappoint in some areas but the decision for the electorate will always be the same, a comparison and on that, Labor's extensive baggage from its last two terms will haunt it for a long time.

 

[drsmith]

But as it stands at the moment, Abbott has nothing to fear from Labor led by Shorten, and the Aus public and grass root labor might just gain the abolition of the carbon tax before dispensing with him. That would be a significant first step in natural justice for the embattled voting public.

On top of that, he'll have to regularly go down to the lowest depths of the Labor bunker to ensure the replacement thermostat on the cryogenic freeze is operating nominally.

 

[trainspotter]

Is wasted around here at times !