- Joined
- 19 February 2016
- Posts
- 953
- Reactions
- 1,544
We vote them in. We are the problem. We believe what they say, we trust in the media, in fauci, in science.
We vote them in. We are the problem. We believe what they say, we trust in the media, in fauci, in science.I think the big thing people need to realise is that globalism is over. US is paying for everything and losing out to everyone it doesn't serve them to not change. It was basically to bring down USSR and well that's been done a while back.
The golden period is over.
Trump is actually spot on the money with a lot of what he is trying to do. The world is about to drastically change. For many countries it will be for the worse. Our idiot politicians need a complete clean out or to grow the hell up.
I think the big thing people need to realise is that globalism is over. US is paying for everything and losing out to everyone it doesn't serve them to not change. It was basically to bring down USSR and well that's been done a while back.
The golden period is over.
Trump is actually spot on the money with a lot of what he is trying to do. The world is about to drastically change. For many countries it will be for the worse. Our idiot politicians need a complete clean out or to grow the hell up.
Very true our society is built on social and organisational structures and those who are able to contribute contributing, now we have a situation where many don't want to contribute and adding to that pool is a recipe for disaster.Honestly the US is standing in the way of itself. I'm not confident on Trumps execution. But I do think he is making the right noises.
I think the big thing people need to realise is that globalism is over. US is paying for everything and losing out to everyone it doesn't serve them to not change. It was basically to bring down USSR and well that's been done a while back.
The golden period is over.
Trump is actually spot on the money with a lot of what he is trying to do. The world is about to drastically change. For many countries it will be for the worse. Our idiot politicians need a complete clean out or to grow the hell up.
How? The US has never been in so much debt.Your kidding, the US has never been wealthier ever thanks to globalism, however the wealth has never gone to so few, ever.
The issue is right wing politics running culture wars while shearing the sheep.
And it works note the endless obsessions here at ASF.
One phrase in an executive order signed by Donald Trump last week must have caused a collective inhaling of breath from diversity divas in Australia.
That Trump wants an end to the “diversity, equity and inclusion” fad was no surprise. What’s most agitating to DEI devotees is the language he used when announcing its demise.
Trump said DEI policies “not only violate the text and spirit of our longstanding federal civil rights laws, they also undermine our national unity, as they deny, discredit, and undermine the traditional American values of hard work, excellence and individual achievement in favour of an unlawful, corrosive, and pernicious identity-based spoils system. Hardworking Americans who deserve a shot at the American Dream should not be stigmatised, demeaned or shut out of opportunities because of their race or sex”.
In that terrific denunciation of DEI is one short phrase – identity-based spoils system – that exposes the racket. That kind of cut-through is enough to make Australian beneficiaries of DEI gird their loins for battle. Having secured the spoils from DEI, don’t count on DEI benefactors giving them up. Many are already circling the wagons in a highly public effort to hold on to the identity-based spoils system that secures them money and prestige. In their corner is Australia’s superannuation system, where huge investment funds dominating Australia’s corporate landscape have entrenched left-wing fads.
Industry funds, controlled by unions and beloved by Labor, hold the levers of corporate power and have no compunction in using them for ideological ends. Aided and abetted by proxy advisers, these funds are playing social engineers in the ASX-listed companies, DEI being just one of their engineering feats.
There is a confluence of interests between DEI beneficiaries and industry funds. The latter know they can rely on the former to help implement policies within corporations, far beyond DEI. To put it bluntly, many beneficiaries of DEI are unofficial loyal lieutenants of super funds. The claim that DEI helps rid boards of group think is, frankly, a joke. The opposite is true. DEI appointees tend to swing one way having come from the same political, social and cultural milieu.
That’s why super funds have used their voting power to install a cadre of DEI advocates on listed company boards and inside influential governance bodies such as the ASX Corporate Governance Council. Given these stubborn homegrown forces, some horsepower is needed to defeat DEI in Australia: reasoned arguments, an injection of common sense, long overdue legal changes, and, let’s face it, a dose of public shaming.
DEI divas have never been shy about naming and shaming companies that haven’t drunk the DEI Kool-Aid fast enough or in sufficient quantities. They shouldn’t be surprised to have their names out there when counter arguments are put.
So, let’s get to work. First, there is no evidentiary foundation to DEI. From the get-go, it was built on sand, piled especially high in a 2015 report by McKinsey that claimed a connection between corporate profits and diversity in executive ranks. When its results were exposed as untrue by a number of academic observers, McKinsey tweaked its modelling and said: “We have also been clear and consistent that our research identifies correlation, not causation, and that those two things are not the same.”
Alas, zealots paid no attention to this. The McKinsey report was their corporate bible and its untrue claims about the benefits of diversity became religious dogma.
Despite the lack of evidence to support diversity as a profit-boosting policy, the McKinsey report turbocharged DEI: in 2015 the Australian Institute of Company Directors set a 30 per cent gender target for ASX 200 board seats by 2018. Likewise, the Australian Council of Superannuation Investors said it would be voting against directors on boards with poor gender diversity. AICD chair Elizabeth Proust called that a “game changer”. The DEI divas were in clover.
When Trump signed executive orders to dismantle DEI across government agencies, pointing out the pernicious nature of this spoils-based system, DEI divas in Australia went full throttle. Gone, however, is any mention of DEI boosting profits – because not even the original McKinsey said that. Now advocates have tweaked their language to talk nebulously, but still without supporting evidence, about “financial risks”.
Australian Council of Superannuation Investors chief executive Louise Davidson said: “Diversity – or lack thereof – is a financially material risk, so we do not anticipate that there will be a reduction in investor focus on how companies are planning for and managing diversity.” HESTA boss Debby Blakey said corporate cultures that don’t encourage diversity “pose a significant material risk to investors”.
Despite no evidence showing that DEI leads to higher profits, it’s time to call bulldust on DEI activists protecting their spoils-based system. ACSI and the Association of Superannuation Funds of Australia, representing some of the nation’s largest super funds and institutional investors, have thrown their weight behind the ASX Corporate Governance Council changes demanding ever higher quotas for female board members, along with tougher corporate reporting of diversity efforts beyond gender.
Alas, reasoning and logic are not part of the DEI ideology. The giant hole in the push for higher gender targets and tougher reporting about diversity is this: If the benefits of DEI for business are so blindingly obvious, why do we need to mandate quotas? If any halfway competent director should know that diversity increases shareholder value, why do we need prescriptive quotas, targets and reporting measures? If it is so demonstrably good for business, then a board that doesn’t ensure sufficient diversity is breaching its fiduciary duties to shareholders.
Why can’t diversity be left to the common sense of directors or, if that fails, their fear of litigation? After all, there is a whole universe of feral litigation funders looking for opportunities to sue boards that don’t take obvious steps to enhance shareholder value.
Could it be that if diversity wasn’t mandated with a blizzard of quotas, targets and reporting demands, together with bullying from activists, some of those currently enjoying the spoils of quotas – and those hoping to do so in the future – fear their personal cash registers might stop ringing?
The spoils-based DEI system in Australia is almost exclusively for the benefit of women, and works heavily in favour of affluent, well-educated women. Are these middle-class women fighting so hard to hang on to quotas because, if they are abandoned and diversity left to the good sense of boards, they might have to share the spoils with say, bright but poor males of immigrant extraction? God forbid that blokes should benefit from DEI.
Indeed, the fact the defenders of quotas fight so hard to keep them might reveal, not only their motivations, but whether they believe their own story. Maybe they know that if logic won’t secure wealth generating quotas, then they need regulators to do it for them.
The other reason DEI is on borrowed time is the flow of capital. A revitalised US economy and regulatory system will expose corporate Australia’s fetish for increasingly stale corporate fads. There are already promises from Australian businesses to send investment capital to the US.
How long before we are forced to drain our corporate and regulatory swamps?
Donald Trump’s war on DEI puts the wind up our diversity divas
How? The US has never been in so much debt.
Everyone always complains that they are always the same and nothing ever changes. This is what change looks like.America is facing a critical moment as it navigates a turbulent economic time. With government spending at an all-time high, drastic cuts are almost essential to avoid financial collapse. The recent election of Donald Trump has brought Elon Musk into the spotlight, especially with his significant $100 million support for Trump's campaign and anticipated role in the administration.
Keep the champagne socialist economics goingYour kidding, the US has never been wealthier ever thanks to globalism, however the wealth has never gone to so few, ever.
The issue is right wing politics running culture wars while shearing the sheep.
And it works note the endless obsessions here at ASF.
Well Germany is certainly finding that going the green dream is hurting, while China eats Germany's lunch.Everyone always complains that they are always the same and nothing ever changes. This is what change looks like.
it's most likely going to get worse before it gets better but thank God someone is tackling it.
More on the same issue @moXJO , this is why the middle class is saying enough is enough, Germany is a great bellweather because it is the engine room of the EU.Everyone always complains that they are always the same and nothing ever changes. This is what change looks like.
it's most likely going to get worse before it gets better but thank God someone is tackling it.
Probably end up doing what the Japanese did. Build brands offshore.Well Germany is certainly finding that going the green dream is hurting, while China eats Germany's lunch.
The below article, is exactly what the U.S is trying to avoid.
Volkswagen Considers Selling Factories to Chinese Automakers
Chinese car brands have struggled to gain a foothold in Europe.www.dagens.com
The company’s factories have produced millions of vehicles, fueling both the domestic economy and exports worldwide.
But now, the automotive giant is facing major financial pressures and is looking for ways to cut costs.
Volkswagen has confirmed that some of its German factories, which are scheduled for closure, could be sold to Chinese car brands.
Yep just keep printing money to support a failing economy, until your trading partner isn't happy with what they are having to pay and they can hold you to ransom. (Sounds familiar) oh that's right they are buying our crayfish again, but they have screwed our nickel and lithium.We have hit the point that it's becoming untenable. For some reason everyone thinks we can just keep racking up debt.
Japan still the third largest manufacturing country in the world.Probably end up doing what the Japanese did. Build brands offshore.
The problem is the unsustainability of it.the US has never been wealthier ever thanks to globalism
How? The US has never been in so much debt.
Don't you think maybe your political bias, may be clouding your objectivity?Trump is doing 0 about this, you recon another round of unfunded tax breaks will solve the issues?
“Here is the deal that I will be offering to every major company and manufacturer on Earth — I will give you the lowest taxes, the lowest energy costs, the lowest regulatory burden. And free access to the best and biggest market on the planet,” Trump said.
“But only if you make your product here in America. It all goes away if you don’t make your product here. And hire American workers for the job. If you don’t make your product here, then you will have to pay a tariff, a very substantial tariff,” he added.
Interestingly, the former president also expressed a willingness to welcome Chinese automakers into the U.S. market—on one condition: they build their vehicles locally. “We’re going to give incentives, and if China and other countries want to come here and sell the cars, they’re going to build plants here, and they’re going to hire our workers.”
"My message to every business in the world is very simple: Come make your product in America, and we will give you among the lowest taxes of any nation on Earth," Trump said. "But if you don't make your product in America, which is your prerogative, then, very simply, you will have to pay a tariff."
Absolutely and the very reason the multinationals didn't want Trump in office, continuing making their product in China to maximise their profits, is far more attractive.Pretty much what China has been offering for the last 40+ years.
Don't you think maybe your political bias, may be clouding your objectivity?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?