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IndyWatch All AU State News Feed was generated at Australian News IndyWatch.
1804 - David Collins decided to up sticks and shift his
non-Corey Worthington organised party to Sullivan Cove in
1810 - Edward Luttrell Jnr, a ships officer and son of Surgeon Edward Luttrell, shot Pemulwuys son Tidbury (Tedbury or Tjedboro) in the face during an argument at Parramatta.
1836 - British Parliament officially proclaimed the colony of South Australia and formally defined its boundaries.
King William IV recognised the continued rights to land for Aboriginal people in South Australia's founding document, the Letters Patent. It was the first ever recognition of Aboriginal rights granted in Australia's colonial history. But the promise of legal entitlement to the land was never kept.
1852 - That glittery gold stuff that gets the population so excited was tripped over in Beechworth.
1856 - Exotic dancer (that's exotic NOT erotic you smutty minded people) Lola Montez - who was neither Spanish nor a trained dancer -was greatly displeased with a bad review written by the editor of the Ballarat Times, Henry Seekamp, about her.
So she took to him with a horse whip.
Totally justified, Your Honour...!
1863 - Thomas McGee was Hanged at Melbourne Gaol for the murder of Alexander Brown at Maiden Gully.
1865 - The tender was issued for work on Parliament House for the construction of the Legislative Council foundations.
1877 - A few glasses and stumps were raised when the patent for the stump-jump plough was registered in South Oz.
1879 - The foundation stone for Melbourne's Royal Exhibition Building was laid.
1883 - Sir William Robinson was having a bad hair day so he decided to cover it up by popping on the South Oz Governor's hat.
1892 - Eileen O'Connor, the next possible Aussie saint, was delivered by the stork in Richmond (Struggletown), Melbourne.
She was yet another ballsy gal who took on Rome to establish Our Lady's Nurses For The Poor.
1894 - Steam trams began chugging their way to Bondi; getting a full head of steam up they could gallop along at 65km/ph, birthing the saying "to shoot through like a Bondi tram".
1894 - The Sydney Anarchy Trial found several well-known chappies were a bit naughty for flogging editions of the anarchist newspaper Hard Cash that cast aspersions upon trustees of the Savings Bank of NSW. Tsk tsk tsk. Because banks are always so trust-worthy during a depression... aren't they?
Of course 2 chappies in particular were let off the hook...future NSW Premier Jack Lang and future Prime Minister Billy Hughes.
1912 - Royal Commission into the claims arising out of the contract entered into between Peter Rodger and the Victorian Railways Commissioners for the erection of Flinders Str...
Rhianna Johnson lives in Bundaberg in Queensland and she is one in the long list of sick people denied a disability pension by Centrelink. They say she is not sick enough.
The 24-year old is suffering from cystic fibrosis and and two years ago, after a lengthy stay in hospital, she was told that she needed a double lung transplant. She has been on the waiting list since then.
I was first sent to the Prince Charles Hospital in December 2016. I was in hospital for about three months. My lung function dropped to just 23 percent which was really scary.
I was on oxygen for a week and I honestly thought I wasnt going to come off it.
At this time, she returned to Centrelink, in a wheelchair and pushed by her father, to be told that at best she will have to wait for months, before any decision was made.
She was eventually sent home from the hospital, because there was some improvement in her state of health. Unfortunately, she began to deteriorate again after a while.
Rhianna tried to keep on working, but it was too much and she had to resign. Her condition made it too exhausting. Not being able to breath properly and absorb sufficient oxygen to maintain an active life is hard. It drains strength and demands rest periods.
I dont see my friends anymore and I dont have much energy. When I get up in the morning and Ive done all my treatments its pretty much time for a nap, she says.
For Rhianna, it has meant being on the waiting list for her life saving operation. It will not cure her cystic fibrosis. Not having the operation means that she will die soon. By having it, her life can be extended in terms of `both time and quality.
This means shifting to Brisbane, where she can get the treatment she needs, especially in the follow up time after the operation. This costs money.
But according to Centrelinks criterion she is not sick enough to deserve disability support.
Rhianna has chosen to speak out, because she does not want others to go through what she has had to put up with.
The problem is that applicants must meet specific criteria that are designed to rule out many who dont fall within the very narrow definitions set out on a table. This is not a clinical assessment. To get the points, the person must show virtually complete incapacity to look after oneself. Ability to work is not a consideration.
Meeting the table criteria may not be enough, because Centrelink still demands that the condition must be permanent. In Rhiannas case, it may be deemed that because a transplant is possible, she may be able to return to work one day. This means that her condition is not permanent......
Producing, engineering, singing, writing and heading up her own label: Milan Ring does it all. Now, the eclectic R&B fruits of her labour are coming into their own.
As a multi-instrumentalist obsessed with constructing idiosyncratic sounds, Milan Ring has really found her groove first with 2017s largely instrumental beat tape Venus Fly Trap and now, with Unbounded, the Sydneysiders first single of 2018.
Playing by her own rules, Milan heads up new collective MXMAY a newly formed creative house producing music, fashion, art, poetry, design and film. Having independently released her own music through the label, shes had a stellar start to the year. From an appearance at Melbournes Sugar Mountain festival, through to supporting Kardajala Kirridarra and Tokimonsta, Milan Ring is making serious moves for 2018.
Lets face it on all accounts the Tasmanian Health system is failing, and is not far from a real crisis scenario. To those who are desperate for quality health care it probably comes as no surprise to hear that Tasmania has the worst public hospital system in the country. Everyone in the medical profession knows it is mostly due to the lack of funding, so why are our governments at the cost of public health, continuing to prop up the clinically-dead native forest industry to the sum of over $100 million per year ?
As Jack Waterford, former editor of The Canberra Times writes, The government has never narrowed the gap. At present rates, Aboriginals will remain the poorest, sickest, least employed and least educated group in the community 80 years from now and still without a plan, as opposed to a vague hope and intention, to make it different. Happily for the PM, there is a distraction. Poor, rich, white, boy, Barnaby, a lad who enjoyed a privileged upbringing, a St Ignatius College Riverview private school boy, - one of Sydneys most expensive schools - who at home could roam Rutherglen an 1821 hectare farm estate, a New England University accountancy graduate who loves to play the battler from the bush is now acting hard done by. Its all about soliciting free accommodation; favours from a mate In true Nationals fashion, a mob of rugged if not roughshod individuals, whose contempt for bureaucracy matches its war with science and the environment, Barnaby decided to relocate the Australian Pests and Veterinary Medicines Authority (APVMA) from Canberra to Tamworth. Its a cheap pork-barrel at a mere $26 million when you compare it with $10 billion for Joyces Inland Rail boondoggle which will never turn a profit either but which is also a nifty source of pork The APVMA invites an advisory committee of 20 odd to stay, reports ABC Saturday AM. Of course, as public servants, all are parched and on the tooth and primed for wining and dining. My, how they enjoy a welcome dinner of prawns with kimchi, truffle oil risotto, New England lamb and sticky date sponge; great value at $80 per head. Our shout The Ayatollah, as he was mocked at Goldman Sachs, the PM succeeds in suppressing Chief Economics Correspondent Emma Albericis heretical analysis of how tax cuts to business dont stimulate jobs or growth. One in five dont pay tax for the past three years at least. Those who do, moreover, pay a seventeen per cent tax rate, on average Richard Ackland, Guardian: Michelle Guthrie, the ABC and the turning of a once-shining jewel into mainstream sludge All public broadcasters are engaged in a constant process of chopping, slicing and reinventing, and every boss spreads his or her own brand of unhappiness
As Jack Waterford, former editor of The Canberra Times writes, The government has never narrowed the gap. At present rates, Aboriginals will remain the poorest, sickest, least employed and least educated group in the community 80 years from now and still without a plan, as opposed to a vague hope and intention, to make it different. Happily for the PM, there is a distraction. Poor, rich, white, boy, Barnaby, a lad who enjoyed a privileged upbringing, a St Ignatius College Riverview private school boy, - one of Sydneys most expensive schools - who at home could roam Rutherglen an 1821 hectare farm estate, a New England University accountancy graduate who loves to play the battler from the bush is now acting hard done by. Its all about soliciting free accommodation; favours from a mate In true Nationals fashion, a mob of rugged if not roughshod individuals, whose contempt for bureaucracy matches its war with science and the environment, Barnaby decided to relocate the Australian Pests and Veterinary Medicines Authority (APVMA) from Canberra to Tamworth. Its a cheap pork-barrel at a mere $26 million when you compare it with $10 billion for Joyces Inland Rail boondoggle which will never turn a profit either but which is also a nifty source of pork The APVMA invites an advisory committee of 20 odd to stay, reports ABC Saturday AM. Of course, as public servants, all are parched and on the tooth and primed for wining and dining. My, how they enjoy a welcome dinner of prawns with kimchi, truffle oil risotto, New England lamb and sticky date sponge; great value at $80 per head. Our shout The Ayatollah, as he was mocked at Goldman Sachs, the PM succeeds in suppressing Chief Economics Correspondent Emma Albericis heretical analysis of how tax cuts to business dont stimulate jobs or growth. One in five dont pay tax for the past three years at least. Those who do, moreover, pay a seventeen per cent tax rate, on average
Debate over poker machines is at the centre of the lead-up to this years Tasmanian state election. Labors promise to remove pokies from Tasmanias pubs and clubs by 2023 if it wins government has been met with both praise and fierce criticism from lobby groups. Announcing the Liberals gaming policy recently, Premier Will Hodgman said: Unlike Labor, we believe that Tasmanians should be able to choose how to spend their money, not be dictated to by the government
Jeremy Corbyns warnings on Iraq, Libya and Syria have proved terrifyingly right. And now Iran looks like the next battleground
Introduction Genocide is a systematic use of violence or oppression with the aim of physically eliminating or culturally destroying a social group. The savagery involved in physical genocide often attracts international attention whereas the use of cultural genocide over time often goes undetected
Recorded and mixed by Branko Cosic
Recorded at the Mansfield Tavern, Brisbane, 23rd December 2017
The Mansfield 4-piece first formed in 2004, all attending Mansfield State High School. Local shows with Brisbane favourites Eat Lazer Scumbag and Gazoonga Attack caught the eye of producer Bryce Moorhead of who recorded their first EP Pigs & T.V. in 2006.
The EP gained the band attention nationally, recruiting Magic Dirts Dean Turner as manager. He also produced and released their first full length album in 2008 on his Emergency Music label. We Dont Belong Here continued their steady growth in popularity, allowing them to tour internationally for the first time as well as play national festivals Homebake, Laneway, Meredith, Falls and Southbound.
Thurston Moore of Sonic Youth became a fan of the ba...
Terima kasih. Terima kasih, I repeat over and over, till my throat goes dry and the Indonesian words of gratitude become a meaningless, Australian-flavoured gibberish.
I wince. And fiddle with the label of the plastic water bottle that Ketut pressed gently into my hands. Made chucks me a toothy grin and tells me to breathe as he treats my left leg with Betadine. His hands, baked golden by years of sun with deep ridges of age, dance softly along my calf, imploring my body to express where it hurts. Through salty, wobbly vision, the faces of concerned onlookers swim in and out of focus.
A cat smelling of something rotten, with sticky, sweat-saturated fur, stares at me through a nearby bush. He cocks his head and twitches his nose as I squeeze my eyes shut. Taking off my grit-stained glasses, I rest my head in my hands.
This scene is the result of 19 years of unawareness, and borderline carelessness, of my own mortality. Well, thats not entirely true. In fact, as a rule, I refuse to eat anything past its use-by-date and never leave home without a thick sheen of SPF50+. Yet, somehow, last month I found myself crumpled on the edge of a T-junction with my ankle wedged tightly beneath a freshly-rented scooter.
Its a common enough story for young travellers.
Let go of your inhibitions! they say. Be free, wild and adventurous!
Sure. Fuck yeah! I can do that.
It seems that most Westerners become well acquainted with the hot sting of gravel-grated flesh when scooter-venturing through Southeast Asia. Particularly in Bali, where a culture of helmetless, Aussie Bintang fiends thrives despite the barrage of figures released by the Department of Foreign Affairs each year.
An Australian dies in Bali every nine days.
For me, upon arrival on this beautifully balmy island, and with my parents more concerned about angry Mount Agung, the volcano, than the mortality rate of scooter-loving tourists, the statistics faded into white noise and felt about as sobering as Melbournes Dumb Ways to Die campaign. Like thousands of other Western travellers, I felt as if death from misadventure just wasnt me.
As night falls, illuminated by the ever-faithful florescent glow of 24/7 convenience stores, the main streets of Kuta come alive with the shouts of young travellers. Men and women with fre...
The family is out for the day, so it's now my time to indulge in my hobby - UFOlogy.
Today's post is continuing my look at websites of Australian UFO groups. After several years away from the topic of UFOs, this is one way to re-acquaint myself with today's UFOlogy. So after looking at New South Wales and Queensland it is time for my home state of Victoria, and the sole UFO group website I could find, that of Victorian UFO Action.
A few general observations
Interestingly unlike UFO Research (NSW) Inc. and UFO Research (Qld) Inc. VUFOA does not have the word 'research' in their name. I was therefore interested to see just what it is that the group does?
I mentioned in previous posts that I don't usually bother about the appearance of a site, being more interested in the content. However I am going to make an exception for the VUFOA website. It is cluttered; and visually overwhelming to my eyes. It scrolls down and down and down, unlike most website home pages which are short and to the point. Coloured letters and lots of icons don't make for a good first impression with me.
There are nine tabs along the top of the home page, 'Home;' 'About us;' 'donations;' 'members pages;' 'search VUFOA;' 'guestbook;' 'report a sighting;'seek support' and 'more.'
'Home' of course is the home page.
'About us' opens up into 'contact us;' 'team members' and 'media releases.'
'Contact us' brings up a preformatted form which asks for your name, and email address and allows you to send an inquiry to VUFOA.
'Team members' fi...
Put in a brief submission by Wednesday 21st February (suggested content below). Some scientists and industries see New GM as a bonanza for their careers and profits although it is only five years old and has no history of safe use. We suggest mentioning:
If you add a sentence or two of your own it gives your submission much more power.
GM, old and new, thrives on secrecy, manipulation of science, exclusi...
WHEN buying a new car people usually take into account certain factors like price, kilometres and fuel economy but it turns out there is one crucial element that is being overlooked and could leave you constantly fighting off swarms of spiders. A Queensland researcher has found that the vibrations given off by certain cars can 
Kermadec and Gould's Petrels, Masked and Red-footed Boobies and a Buller's Shearwater at Offshore--Southport pelagic reported by Rob Morris and all on board the Southport Pelagic organised by Paul Walbridge on 17-02-2018 "IndyWatch Feed Allstate"
A good day - lots of Tahiti's performing well + single Kermadec and Gould's Petrels, Masked and Red-footed Boobies and a Buller's Shearwater on the way in. More Flesh-footed Shearwaters than we've had in many months and some great views of Pomerine Skuas and Sooty Terns.
Anyone would think I'd gone communist. Along with John Howard.
As soon as the Treasury released its tax expenditures statement last week, I and others who reported it were accused of wanting to ape Eastern Europe, of going "Peak Orwellian".
"The author has raised an interesting concept, everything belongs to the government and one has no individual rights or assets," wrote one of my kinder correspondents.
"The left regards tax not gouged as government spending," wrote another. "Since when has retaining your earnings been a government handout?"
The short answer is: since at least 1998. That's when Howard made it mandatory for the Treasury to report tax expenditures as if they were cash expenditures.
On taking over as Coalition prime minister after 13 years of Labor government, he set up a Commission of Audit to tell him what to cut.
It told him that government programs were delivered in two ways: as direct payments which hurt the budget, and as tax breaks which also hurt the budget.
Although often functionally identical (parents don't care whether they get the family tax benefit as a payment or a rebate, patients don't mind how they get the private health insurance rebate, and most wouldn't know whether the baby bonus was a payment or a tax break) the two get treated quite differently.
Payments get put in the budget of individual ministers as a line item to be scrutinised and reviewed in the lead-up to every budget.
Tax breaks go on no one's budget and become part of the furniture. As the Henry tax review reported later, they can be "difficult to contain".
Accounting for them once a year, in the same way as direct payments are accounted for twice a year in each budget and budget update, lets us know what they are and what they are worth.
It doesn't mean (necessarily) that they are at risk, any more than accounting for the annual cost of the pension means i...
1793 - The first school in the new colony began thumping
learnin' into young heads in an unfinished church building in
Sydney with the first teacher being one Mr Stephen Barnes.
1796 - One of the Scottish martyrs, Thomas Muir, did a bunk and successfully escaped on an American ship Otter.
1804 - The first Russian to become an Aussie resident - before we were known as Aussies - was John Potocki who was given the Grande Tour of Tassie as a transported convict.
1815 - George Wood and others were lost en route from Illawarra to Shoalhaven to pick up cedar.
1844 - The foundation stone of the monument to Surveyor-General Colonel William Light, over his grave in Light Square, was laid on this day.
1856 - A bovine lad by the name of King Oscar was pupped on this day; being of a lowly state his fate was in the hands of others and, thus, he was sold to Mr Broadie and travelled to Oz where he spent the remainder of his days.
1858 - The HMS Sappho may have been armed with sixteen cannon but she still managed to disappear on her voyage from England ; she was last sighted a few miles off Cape Otway, Vic, on this day and then not seen again. Despite an extensive search in Bass Strait and a report that the masts of a ship were seen protruding from the sea near Wilsons Promontory, no definite trace was ever discovered.
1862 - Margaret Coghlan was Hanged at Campbell Street Gaol, Tassie, for the murder of her husband.
1865 - John McDonald was another Melbournian who chose to chance it aboard the CSS Shenandoah; he popped out of his hiding place after the ship had sailed, becoming another of the OZ & NZ veterans of the American Civil War.
1869 - A transported Fenian, JB O'Reilly, took his unlawful leave from Fremantle in the American whaling ship Gazelle and sailed off into the sunset for USA.
1874 - Little Nell was a steam launch whose boiler exploded during a race with the tug Tamar, off Coulson, Tasmania. In an attempt to beat the powerful tug, the safety valve of the launchs boiler was clamped down and more fuel thrown on the fire. Eleven on board; the river cutter Margaret rescued three passengers, one dying a few days later, the other two badly scalded.
1874 - I say, What!
That earnest explorer chappy Ernest Giles was nearly killed by one of his horses when he was thrown and dragged along, only narrowly escaping being killed.
1883 - Jessie Litchfield, a fantastically inspirational woman, was found in the tulip patch. She was an author, poet, Aussie and international journalist and editor of a NT newspaper, who helped push tourism in the Top End.
1893 - The Marlborough Express succinctly stated how both Tamworth and Toowoomba were out of railway and telegraph communicat...
Government spending on tax breaks is set to hit a record $170 billion this year, largely as a result of an explosion in the value of concession for the family home.
Treasury's Tax Expenditures Statement required under the Charter of Budget Honesty and released quietly after the close of business on Thursday puts the value of the exemption from capital gains tax for owner occupiers at $74 billion this financial year, up from $66.5 billion last financial year, which was itself $5 billion more than Treasury had forecast.
Four years ago, before house prices shot up, it was worth $46.5 billion. Treasury says by 2020-21 it will be worth $91 billion.
The exemption releases owner occupiers from the obligation to pay capital gains tax on profits made from the sale of their primary residence. Those profits have soared in recent years as prices have climbed, especially in Sydney and Melbourne. Investors pay capital gain at half the income tax rate, a concession the Treasury costs at $10 billion, up from $4.4 billion four years ago.
The cost of tax expenditures is tabulated so that the government can compare the budgetary impact of direct spending in the form of grants with indirect spending in the form of tax breaks.
The government costs assistance to the aged at $64.3 billion and assistance to the unemployed and the sick at $10 billion.
The concession tax treatment of superannuation contributions is costed at $16.9 billion. The concessional treatment of super fund earnings is costed at $19.25 billion. The two figures can't be added together to get a total for super tax concessions, because if contributions were fully taxed the funds would earn less.
The exemption of so-called fresh foods from goods and services tax costs $7 billion per year. Among the items exempt because they are used to prepare food at home is sugar, although commercially prepared products containing sugar such as soft drinks are subject to the GST.
The GST exemption for education services including private school fees will cost $4.55 billion in 2017-18 and $5.65 billion in 2020-21. The exemption for medical services costs $4.1 billion.
The cost of the farm management deposit system, which gives tax advantages to qualifying farmers, is is expected to double from $245 million in 2016-17 to $560 million in 2017-18.
The figures come as the government attempts to find savings to fund personal income tax cuts in the May budget and reduce the deficit of $21.4 billion.
The 10 biggest tax expenditures identified by the Treasury
In response to the plastic waste issue in the Colombian Amazon, Spanish designer Alvaro Cataln de Ocn began the PET Lamp Project in 2011a design venture with the aim to reuse PET plastic bottles. Over the last five years, the eco-conscious designer has worked with traditional craft communities from all over the worldincluding Colombia, Chile, Japan, and Ethiopiato turn plastic waste into a growing collection of beautiful, handmade PET Lamps. Inspired by Aboriginal art, Cataln de Ocn recently traveled to Arnhem Land in Australias Northern Territory, to work with eight indigenous Yolngu weavers.
As with his previous projects alongside traditional crafts people, Cataln de Ocn arrived to BulaBula Arts Centre in Ramingining without a predetermined plan for how the lamps would look. Instead, he gave freedom to the talented weavers who began to produce large structures inspired by traditional Yolngu mats. Made from naturally dyed pandanus fibers, the resulting suspension lamps with characteristic fringes incorporate the PET plastic bottles as the center points of their circular woven designs.
The vibrant, sunshine hues were made from boiling natural ingredients and pigmentssuch as ash and eucalyptus barkand then leaving the dyed leaves to dry in the sun. Each individual mat was then woven together into two larger lampshades, mirroring the bond between people of the same clan. Cataln de Ocn explains, The two masterpieces turn into a complex, harmonious merge between Aboriginal kinships, weaving technique, topographic elements, and design.
If youre in Australia, you can see the the latest PET Lamps for yourself at the National Gallery of Victoria Triennial, on display until April 15, 2018. You can also find out more about the project via the PET Lamp website.
Planning is continuing for a nuclear waste disposal site in the South Australian outback, despite opposition from local residents. http://www.abc.net.au/news/2018-02-17/barndioota-nuclear-waste-site-planning-outrages-locals/9456052
The intermediate-level waste is currently being held at Lucas Heights, in Sydneys south.
Barndioota is a gazetted area, and was a town between 1883 and 1929. Locals from Quorn and Hawker, the two communities closest to the Barndioota site, have been vocally opposing the site since planning began in 2015.
We can see no reason why youd bring stuff thats temporarily stored somewhere else to a completely new site that hasnt even been built, resident Greg Bannon said.
Mr Bannon is chairman of the Flinders...
Here are the answers with discussion for this Weekends
Quiz. The information provided should help you work out
why you missed a question or three! If you havent already done the
Quiz from yesterday then have a go at it before you read the
answers. I hope this helps you develop an understanding of modern
monetary theory (MMT) and its application to macroeconomic
thinking. Comments as usual welcome, especially if I have made an
If the growth in wages (the money you get paid) keeps pace with inflation which is accelerating at the same rate as labour productivity is growing then the wage share in GDP remains constant.
The answer is True.
The wage share in nominal GDP is expressed as the total wage bill as a percentage of nominal GDP. Economists differentiate between nominal GDP ($GDP), which is total output produced at market prices and real GDP (GDP), which is the actual physical equivalent of the nominal GDP. We will come back to that distinction soon.
To compute the wage share we need to consider total labour costs in production and the flow of production ($GDP) each period.
Employment (L) is a stock and is measured in persons (averaged over some period like a month or a quarter or a year.
The wage bill is a flow and is the product of total employment (L) and the average wage (w) prevailing at any point in time. Stocks (L) become flows if it is multiplied by a flow variable (W). So the wage bill is the total labour costs in production per period.
So the wage bill = W.L
The wage share is just the total labour costs expressed as a proportion of $GDP (W.L)/$GDP in nominal terms, usually expressed as a percentage. We can actually break this down further.
Labour productivity (LP) is the units of real GDP per person employed per period. Using the symbols already defined this can be written as:
LP = GDP/L
so it tells us what real output (GDP) each labour unit that is added to production produces on average.
We can also define another term that is regularly used in the media the real wage which is the purchasing power equivalent on the nominal wage that workers get paid each period. To compute the real wage we need to consider two variables: (a) the nominal wage (W) and the aggregate price level (P).
We might consider the aggregate price level to be measured by the consumer price index (CPI) although there are huge debates about that. But in a sense, this macroeconomic price level doesnt exist but represents some abstract measure of the general movement in all prices in the economy.......
I just finished your new NYSE Boom/Busty report. This is excellent work and as always extremely fascinating. Thank you for continuing to share these profound views with us.
My question relates to your view that we are looking at a complete collapse of Quantitative Easing and that will likely see a massive capital flight to the dollar and the major safe haven will be EQUITIES. In the context of this possibility, are you able to comment on how this may relate to Real Estate. Your ECM seems to be calling for Real Estate to top out and structurally fall in 2032. Is it not possible that with the collapse of QE and potentially economies that we will see more negative rates in the short end and with the government powers to seize assets in bank accounts, would it not be prudent to have zero cash in hand and hence we see a massive capital flight to Real Estate too? Or will the collapse of QE lead to significantly higher rates across the curve and hence blow all leveraged exposure sky high?
Many thanks as always,
ANSWER: The problem with real estate has been that its value depends upon lending. This was what the government did as part of the New Deal by creating 30-year mortgages. This was a scheme to get prices up by extending the period people could pay off the loan. Typically, the duration was 5 years previously.
The collapse in Quantitative Easing will have the effect of causing rates to rise on the long-term. However, there will be a shift toward private assets and this will help to a large extent. However, keep in mind that many institutions will be trapped and unable to shift to private assets. Many boards will not understand the shift and still believe, wrongly, that unsecured government debt is best.
Prices of real estate will decline in proportion to the decline in mortgage availability. We are already witnessing banks beginning to withdraw from lending on real estate.
I have provided the guide-posts for what is to come...
News.com.au reported on the bail hearing for four of the seven people charged with a total of 127 offences relating to alleged rape, kidnapping, assault and abuse of three little boys at a circus training school in the Blue Mountains.
Unsurprisingly, given they are pleading not guilty, lawyers for the four people denied the accusations and claimed evidence reported in the media does not exist. These claims have yet to be tested in court.
News.com.au chose to call the alleged rape of the little boys child sex.
To be clear, the case has not yet been heard by the court, therefore this commentary is nothing to do with the accuseds guilt or innocence, it is entirely about the way the charges against them are described in the media.
Children cannot have sex. Sex requires consent, children cannot legally or morally give consent so it is not sex. Rape, sexual abuse and sex are not the same thing and they can not be used interchangeably in headlines.
Here are the reasons this matters, in every case, with every headline.
The victim impact statements from child abuse trials are harrowing, a testament to the lifelong injuries suffered by people who were sexually abused as children. They are the litany of drug addition, alcohol dependence, gambling problems, depression, crippling anxiety, relationship breakdowns, suicidal thoughts, shame, self-hatred, mistrust of others and long term emotional damage so common in survivors of child sexual abuse. Children who have been abused are also significantly more likely to suffer further abuse, both as children and as adults.
The effects of sexual abuse of children then lead to the cycle of horror where victims become unreliable witnesses to their own abuse.
When the media, as it so persistently does, labels sexual abuse of children as child sex, we are weakening the public understanding of the extent and effect of such abuse. This has serious effects. A study conducted for the Royal Commission into Institutional Responses to Child Sexual Abuse found that juries who have a better understanding of the facts of child sexual abuse are less likely to make mistakes in their assessment of evidence given in court.
Children cannot have sex with adults. Sex requires consent and children,....
Your weekly selection of awesome robot videos Photo: Boston Dynamics
Video Friday is your weekly selection of awesome robotics videos, collected by your Automaton bloggers. Well also be posting a weekly calendar of upcoming robotics events for the next few months; heres what we have so far (send us your events!):
Let us know if you have suggestions for next week, and enjoy todays videos.
Awww, a SpotMini using its face-arm to help a buddy...adorable!
Now, its starting to get a bit frustrating that every new Boston Dynamics video makes the Internet blow up with OMG-ROBOTS-ARE-GOING-TO-KILL-US headlines and tweets. Perhaps Boston Dynamics could release some behind-the-scenes footage (or outtakes!) to show whats going on here? Theres an appearance of autonomy, and if its actually autonomous, BD should say so, but if its remote controlled by a human, they should make that clear. A bit more context for thes...
New polling ( HERE ) released yesterday by The Australia Institute Tasmania shows that voters want all parties to disclose the donations they have received before people go to the polls on March 3rd
Study finds catastrophic diseases arent things that evolve once they actually evolve multiple times from different ancestors
This is the first complete genome from one of the most significant disease events in human history, he said.
The results showed the strains from the plague victims were distinct from those involved in the Black Death, the later pandemic which killed an estimated 60% of the European population.
The Justinianic strains appear to be an evolutionary dead end when compared with modern strains, and most likely originated from Asia and then spread to Europe along trade routes such as the Silk Road.
Associate professor Jeremy Austin, from the Australian Centre for Ancient DNA said the study was an important insight into the evolution of an infectious disease.
It certainly tells us that these catastrophic diseases arent things that evolve once, and then lurk around waiting for an opportunity to reappear they actually evolve multiple times from different ancestors, he said.
Which makes it very much harder to predict when theyre going to happen next, and how they evolve and therefore how you might prevent them happening.
Allen Cheng, associate professor at Monash Universitys Infectious Diseases Epidemiology unit, said the Lancet study was fascinating.
This is a great example of what can be done with all this new sequencing technology, he said.
Theres a whole field of paleo-phylogeny, going back into history and trying to work out the origin of diseases.
It also illustrates a really interesting point: really dangerous bugs like plague that kill their hosts, arent very evolutionarily successful. And thats a pattern we see with a lot of
Holmes said one of the objectives of the researchers from the McMaster, Northern Arizona and Sydney universities was to determine why the Justinianic plague was so severe.
Plague is still around today in parts of the world, and is associated with much lower death rates than it was in the past, he said.
Was there something about...
The trailer for Dirty Computer is here, featuring Tessa Thompson, flying cars, and sexy clubs we probably cant (and maybe dont want to) get into.
What: The visual album Dirty Computer
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