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Thread: Politics Thread

  1. #2451
    Big Energy sblack's Avatar
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    Perrottet in.
    TTP

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    comfortably numb flight23's Avatar
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    OPEN UP TODAY GODDAMMIT!!!


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    Quote Originally Posted by Embers View Post
    Im the hero football needs and deserves you will find

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    Veteran Triptanes's Avatar
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    Dom gonna lock you down till you can recite the bible off by heart

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    übermensch showdownhero's Avatar
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    Quote Originally Posted by Triptanes View Post
    Dom gonna lock you down till you can recite the bible off by heart
    and have at least 5 children
    Quote Originally Posted by Embers View Post
    In the end I was wrong

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    Veteran Triptanes's Avatar
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    yenny would just need to do the bible part then

  6. #2456
    the implication. fender's Avatar
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    Politics Thread



    Ignoring how wtf this graph is in general the capital P, the plan to get to net zero is called the Plan!

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    Last edited by fender; 28th October 2021 at 01:07 AM.
    Picture Phife losing a battle, come on, get off it
    Put down the microphone son, surrender, forfeit

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    Veteran Triptanes's Avatar
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    Close the gap…is the Plan TM for climate change or gender equity shit?

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    Veteran Triptanes's Avatar
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    Macron flat out calling Scomo a liar

    I mean france are known as the cheese eating surrender monkeys for taking a lot of Ls…then there’s Scomo

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    Veteran BobbyVanVeen's Avatar
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    Such a Sco-Mo thing to do.
    Scunthorpe

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    übermensch showdownhero's Avatar
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    Quote Originally Posted by Triptanes View Post
    Macron flat out calling Scomo a liar

    I mean france are known as the cheese eating surrender monkeys for taking a lot of Ls…then there’s Scomo
    i'm no scomo fan but those once nuclear diesel retrofit french subs were garbage anyway, absolutely no loss to the country walking away from that deal
    Quote Originally Posted by Embers View Post
    In the end I was wrong

  11. #2461
    the implication. fender's Avatar
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    Politics Thread

    Sounds like he walked away from it in his typical weasel fashion though. Leaking the text from Macron but not the response is interesting.

    Probably should have given the French a crack
    at a tender at the actual nuclear subs they were having to fuck around/butcher to try and retrofit cause we didn’t want their nuclear one in the first place.

    From limited understanding the french nukes wouldn’t suit us as need more ongoing fueling of the reactors vs the US/UK which are more lifetime nuclear fuel cells. Later makes sense without a nuclear industry.

    But probably couldn’t have got some prime time defense dick waving press conference with Brexit Britain and bloke didn’t even know his name that way.

    With Merkel gone the French hold a tighter grip on the EU so our Free Trade deal might be getting delayed longer so not all positive diplomacy/no loss to us. French were the most against it before all this as it’s mainly undercutting their agriculture. An apology and kiss his arse might not have hurt when you bail on 90b contract justified or not.


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    Last edited by fender; 2nd November 2021 at 05:48 PM.
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    Put down the microphone son, surrender, forfeit

  12. #2462
    Veteran Triptanes's Avatar
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    Quote Originally Posted by showdownhero View Post
    i'm no scomo fan but those once nuclear diesel retrofit french subs were garbage anyway, absolutely no loss to the country walking away from that deal
    i don't really care about which subs we'll probably never get / get at some ridic cost blowout / get but not be able to staff or operate properly

    just the politics and diplomacy of it is all so absolute clown car act just to suck some old Biden D

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    Veteran Eagle E's Avatar
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  14. #2464
    übermensch showdownhero's Avatar
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    This is gonna get interesting

    https://www.theaustralian.com.au/bus...1-f8bb95882b6e

    US inflation spike to record levels means mortgage rates in Australia are almost certain to rise

    Put the glasses down. The dramatic events on Wall Street last night mean that mortgage rates in Australia are almost certain to rise, irrespective of what the Reserve Bank of Australia might do.

    Both our Reserve Bank and the US Federal Reserve have believed — perhaps hoped is a better word — that the inflationary pressures seen in recent months were temporary.

    The latest spike in the US inflation rate has caused markets to trash the Federal Reserve view and US bond yields have jumped as a result of sharp falls in bond prices.

    An important part of the funding of Australian banks is borrowing overseas at interest rates based on US bonds. The cost of those overseas borrowings has been rising in recent months and now it will rise even further.

    Banks will want to pass that higher cost onto mortgage borrowers as well as business. Already banks have lifted their fixed rate long term home loans but the Australian housing market is dominated by flexible lending rates which have plummeted so boosting demand.

    There will be anger in the community when mortgage holders begin paying higher interest rates because of overseas trends when the official rate has not moved.

    READ MORE:More pain for Biden as inflation surges|10 stocks to win from rising inflation, interest rates|Wipe out: Shipping costs and inflation hit manufacturer|US inflation data may test market’s resolve|Why banks are cutting variable interest rates

    The Reserve Bank wants to see wage rates increased before lifting its rates and is still hopeful inflation will not break out.

    Along with others, I have been warning for some time that this is simply not a likely scenario because Australia is being plagued with a massive shortage of labour across many areas the country, which is pushing up wage rates. There are dangerous supply chain issues and the costs of goods out of China is rising.

    What is holding wages back is the massive employment in supermarkets and other employment based on enterprise agreements that were set in difficult economic times. So far there has not been a mass exodus of supermarket staff to join the delights of the higher wage rates in other segments of the community but this is a relatively recent environment.

    Will the higher interest rates create massive turbulence in the real estate market and bank bad debts? At this stage we are probably looking at an interest-rate increase during 2022 of around one per cent but that could rise further as the Australian inflation rate increases.

    New & improved business newsletter. Get the edge with AM and PM briefings, plus breaking news alerts in your inbox.

    But building costs are also rising. Those with existing mortgages will see their house prices underpinned by ballooning construction costs of new premises. There will not be a mass bad debt problem while employment is so high and interstate rises are moderate.

    Employed Australians pay their home mortgages first. In many families food comes next. However, the higher interest rates will curb bank credit availability which will take the sting out of the house price boom.

    In the US, the Federal Reserve has been caught completely wrong footed. Its recent bond buying had pushed the 10 year bond rate well below the 1.5 per cent benchmark rate in the expectation that inflation would not break out in the latest announcements.

    The Federal Reserve’s head was firmly cemented in the sand when the latest US inflation figures were announced. Accordingly the 10-year bond rate rose by more than one per cent to above 1.55 per cent and the 30 year bond rose a similar amount to exceed 1.9 per cent. Australia bond prices will now fall sharply boosting yields.

    The US consumer price index, like Australia is a basket of products ranging from US gasoline and healthcare to groceries and rent. It rose by 6.2 per cent from a year ago hitting its highest level since December 1990. This is an incredibly high inflation rate and there is no sign of it abating. Indeed, the October monthly rise in the CPI it was 0.9 per cent which is an annual rate of above 10 per cent.

    On the official interest rate front, October was another month of inflation data well above the Federal Reserve’s inflation target. If inflation doesn’t subside, the Federal Reserve will almost certainly need slash its bond buying and boost interest rates which will hit US shares and bonds.

    Not surprisingly after the October data was released technology shares fell as rising rates discounted the value of future earnings which impacts the market price of growth stocks. On the other hand bank stocks got a lift from the jump in bond yields.

    The market calculates that the higher rates will enable US banks charge greater interest on loans, which typically boosts profits. The same will happen in Australia as long as bad debts do not rise. On the other hand the higher rates in bonds cause yield driven shares to fall in value.

    Meanwhile, all the warnings about the overheating of the US economy are now coming home with a vengeance. Exactly the same thing is happening in Australia, as like the Federal Reserve, our Reserve Bank continues to print money despite the boom.

    Companies around the world are battling supply chain bottlenecks as demand increases converge with industrial enterprises struggling restore production after the Covid-induced shutdowns.

    In China this has been exacerbated by power shortages partly as a result of the bans on Australian coal. Given the strong demand from consumers there is no sign of the shortages abating.

    In Europe, the disruption caused by Brexit is adding to the problem and creating substantial shortages of truck drivers and other essential workers. In the US, the problems are even more widespread.

    All this coincides with the looming industrial revolution as part of the decarbonisation of the world industrial base. This extra investment is going to create substantial demands for funds around the world. The era of very cheap money may be over.
    Quote Originally Posted by Embers View Post
    In the end I was wrong

  15. #2465
    Big Energy sblack's Avatar
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    Every bank in the past week has increased their Fixed rates. Everyone is scared/preparing for them to go up early next year
    TTP

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    übermensch showdownhero's Avatar
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    Dutton successfully suing someone for mean tweets is fucking putrid
    Quote Originally Posted by Embers View Post
    In the end I was wrong

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    Veteran BobbyVanVeen's Avatar
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    If the ALP can't win the next fed election, then they will never win again.
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  18. #2468
    Vale Nollsy Embers's Avatar
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    Quote Originally Posted by BobbyVanVeen View Post
    If the ALP can't win the next fed election, then they will never win again.
    Huh?

    Scomo will crush it

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    Veteran BobbyVanVeen's Avatar
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    Quote Originally Posted by Embers View Post
    Huh?

    Scomo will crush it
    Sco-Mo is untrustworthy.

    That will sink him.
    Scunthorpe

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    übermensch showdownhero's Avatar
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    Quote Originally Posted by BobbyVanVeen View Post
    Sco-Mo is untrustworthy.

    That will sink him.
    People just assume all politicians are untrustworthy so I don't think that will matter. By the time the election rolls around life will be back to normal (for the most part) and scomo will look like the man that saved crimbo
    Quote Originally Posted by Embers View Post
    In the end I was wrong

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    Politics Thread

    Ever since the media cajoled Scomo into an apology for the slow vaccine rollout last year he seems to be apologising for something every day now (e.g. whatever that press club debacle was
    last week)

    Looking forward to an election campaign of pledges to be sorry for an infinite number of things. Lock this in as the election campaign theme song: https://youtu.be/fRh_vgS2dFE

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    übermensch showdownhero's Avatar
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    Quote Originally Posted by Triptanes View Post
    Ever since the media cajoled Scomo into an apology for the slow vaccine rollout last year he seems to be apologising for something every day now (e.g. whatever that press club debacle was
    last week)

    Looking forward to an election campaign of pledges to be sorry for an infinite number of things. Lock this in as the election campaign theme song: https://youtu.be/fRh_vgS2dFE
    I’m more worried about the bread he’s eating m8

    Quote Originally Posted by Embers View Post
    In the end I was wrong

  23. #2473
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    It's so interesting watching this election.

    You've got Morrison who is pretty much useless but at least he's trying.

    You've got Albanese who you have to assume is utterly useless because he's not even trying.

    Libs are basically running on we wont change anything no matter how bad it is. Labor are basically running on we wont tell you anything.

    It's not even the WA election where the opposition ran with the "we're going to do exactly what they're doing", it's like some extra level of "we're literally doing nothing at all". Funniest part is that it's probably going to work.

    It's the election equivalent of "better to be thought a fool than to open your mouth and remove all doubt", Labor are perfectly happy for Morrison to go around proving his side of the story .

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    Surely liberal just run with "look at labor in WA locked up and separating themselves we won't do that" for some extra votes.

    Basically the opposite of WAs labor saying "look at eastern states let it rip and dying we won't do that"

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    Quote Originally Posted by Dogbloke V3 View Post
    Surely liberal just run with "look at labor in WA locked up and separating themselves we won't do that" for some extra votes.

    Basically the opposite of WAs labor saying "look at eastern states let it rip and dying we won't do that"
    Scotty supports McGOATwan's approach now

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