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The outer suburban marginal seats will almost certainly swing to the Coalition on Saturday. I'm sure many of the Left intelligentsia think they have the reasons for this all worked out: voters in the outer suburbs are uneducated, 'aspirational', cashed-up bogans who only care about their mortgages, negating their working-class origins and keeping out asylum seekers. As a swinging voter from one such electorate, I can tell you the reality is not that simple.
Australia is one of only a few countries in the world that has a franking credit system. Though it is designed to stop 'double taxation' on company tax, in many cases it ends up being a 'double reward' for entities that already have tax favoured status. Last year the Tax Commissioner generously refunded over $500 million to charities and not-for-profits on dividends because they pay no tax.
'Like many Australians, I had hoped that the dastardly plan announced on 19 July would stop the boats in the short term, as a stop-gap measure. It is dismaying to learn that appropriate consultations had not occurred with Indonesia with the result that the very people who were to receive the shock and awe message are yet to receive it. There’s only one thing worse than shock and awe; that’s shock and awe that doesn’t work because you haven’t done your homework.' 43rd Barry Marshall Memorial Lecture, Trinity College Theological School, 14 August 2013.
As the China boom fades Australia is experiencing a delayed version of the GFC, without the banking crisis. Until now we've been reasonably well served by both sides of politics, in terms of macro-economic strategy. Now we require a way of dealing with more mundane economic issues like productivity and efficiency. Neither side has many good ideas about how to achieve the required structural shifts.
A currency's value is supposed to represent the state of the country's underlying economy. Yet very little changed about the Australian economy during a week in which the value of the dollar was substantially altered. It is a small instance of how rapidly change occurs in currency markets, sometimes to devastating effect, and another reason why the capital markets are ruling rather than serving.
'I want to outline the contours for a better approach — better than forcibly turning around boats, better than transporting people to Nauru and Manus Island or to Malaysia to join an asylum queue of 100,000 or permitting people to reside in the Australian community but without work rights and with inadequate welfare provision.' Frank Brennan speaks at the Australian Catholic University National Asylum Summit 2013.
Turkey's increasingly dictatorial prime minister Recep Tayyip Erdogan paid little heed to last week's violent demonstrations, dismissing protesters as looters and blaming social media for inflaming the situation. The protests are hardly on par with Egypt's government-toppling anti-Mubarak demonstrations, yet may still lead to a rejuvenation of Turkish democracy.
Religious authorities may not spend a lot of time pondering the nature of global financial systems, but the Pope's recent comment that 'money has to serve, not rule' suggests it can be useful when they do. Given scope to become rule makers, rather than just people who know how to exploit the rules, financiers have moved themselves to a position of mastery.
With every boat that sinks our grief's untold; the smugglers just don't care they're overfull; So join the queue, no need to bribe with gold; and get a proper visa in Kabul.
If I was a long-term unemployed person, how would I answer the question, 'What has the ALP done for me?' 'Lots, and not much.' The Gillard Government's commitment to developing workforce skills suggests it values decent work, not just jobs, but in positing productivity as the path to prosperity it seems more Reagan than Keynes.
In The Big Bang Theory Sheldon invents a game of chess which 'utilises a three-sided board with transitional quadrilateral-to-triangular tessellation to solve the balanced centre combat-area problem'. This gobbledegook sounds suspiciously similar to the application of mathematical models to financial securities in derivatives markets.
A public letter from the imprisoned leader of the outlawed Kurdistan Workers Party (PKK), declared that PKK insurgents should forego armed struggle against the Turkish military. An end to terror is one thing, but there is a way to go before Turkey's Kurds have the rights and freedoms they've long hankered for.
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