Thinkabit, Are you a defensive member of the red/green/getup/labour coalition or a self funded retiree whose very worried about their shares &/or superannuation?

The domino effect i described is very normal. It happens all the time in markets. Markets go up AND they go down again.

Suppose for the sake of argument that your "best case scenario" is true & other banks, countries, don't go broke. The stronger economies of the EU like France & Germany have had to weaken their already struggling economies to bail out Greece.

Their banks, treasuries, now have less money available to save their own struggling economies. The only economies anywhere in the world doing OK, are BRICOZ, Brazil, Russia, India, China & us Aussies.

Brazil, Russia & OZ have been doing OK because there has been some continuing demand for our mining boom products. This is because India & China were booming so strongly when GFC#1 started, that their economies had some momentum, keeping them going, which is now running out of puff.

As all the other economies continue struggling, they continue consuming less products from India & China, they in turn, will need less of our mining exports. Enter GFC#2 for everybody.

The stock market can't go down much more than it already has, so if that is your concern, stop worrying. But unemployment will rise, bankruptcies & mortgage defaults will rise, the real estate market in OZ has not yet dropped, like it did last time & every other recession before that.

That economist who lost his bet about Aussie real estate dropping by 40% was only wrong on the timing.

There are 2 other economies with a GDP debt ratio worse than Greece, Italy & Japan, with the US racing to catch up to them.

Lesson for us, get rid of the red/green/getup/labour coalition ASAP.

Hasbeen, spot on mate. http://www.australiafirstparty.com.au/cms/

Dear Peter..I am most relieved to read that:

I am personally against our law being subject to UN conventions; as I think the UN is very bad for various reasons, and has no moral primacy.

If you only knew.....

On the issue of what they are entitled to? Well.. not knowing the facts of each situation I can't say too much but you have aleviated my primary concern with your response above.

If you look at the recent submissions by the HREOC (Australian and Victorian) they are constantly arguing for a primacy of Human Rights law over Australian law.

This is tantamount to a 'Treaty of Waitangi' where the Engilsh version said "Accept Sovereignty of the Crown' and the Maori version said "Protection" of the Crown. Just one word..but the consequences have been immeasurable.

The day that "Human Rights" law becomes soveriegn over Aussie law, is the day Gore and Soros and Strong and ilk rule our land.. yes..I really mean that. (the U.N. is never the "United Nations")

On ya runner.

The strong persistence by a minority of the population to legitimize the

illegitimate,will forever amaze me I am sure.

My firm opinion on homosexuality is to keep it firmly under the carpet

where it all belongs with the other "queer" stuff that lands outside

of a basic and traditional morality.

AlGOREisRICH

Well we're agreed there.

Australia withdrawing from the UN Refugees Convention would have a lot of advantages. It would not in any way restrict our ability to recognise refugees, and extend protection to whomever we wish. It would enable us to decide who deserves protection and who doesn't. As things stand, the government doesn't have any choice. Once somebody is found as a matter of fact to meet the definition of refugee, then the government has protection obligations and that's that. But the definition comes not just from our own courts, but from the authorities of international law, which includes the decisions of other nations' courts, the opinions of academics, and UN treaties. The effect is predictable: to define as human rights whatever trendy latte-sipping parasites think should be human rights.

To say that Australia's law should be subject to "human rights" law is not about human rights, it's about political power. It means that the unelected representatives of foreign states, most of whom have abysmal human rights records, sitting in UN committees, get to decide what Australian law should be, instead of Australian voters.

The theory of these people is invariably that a human right is whatever the state says it is. It should come as no surprise that the state says it is what just happens to give more power to government officials. So they dream up human rights like the "right" to services paid for by others under compulsion, the standard belief of socialists and fascists throughout the world, the infantile narcissism of the unweaned sqalling for the teat, crying for something for nothing.

The fact is, there is and can be no such thing as the right to human labour taken under compulsion. If there were, there would and could be such a thing as a human right to slavery, the quintessential belief of all statism, of which the UN is the apogee.

The only human right is the right to be free to do what you want so long as you are not aggressing against others.

Hrrmpth.

i was wondering where my comment on the Greek tragedy went to.

diver dan, on ya mate, i agree with yourself & runner. The red/green/getup/labour coalition have been "slobbering all over minorities" throwing billions of taxes at them & ramming them down our throats for too long.

ALGOREisRICH, don't forget the other international banksters, Rothschild's, et al.

Peter Hume, i thought i had detected a libertarian flavour in your comments, without you actually naming it. The other left, right dichotomy i spoke of can be found here.

http://www.bibliotecapleyades.net/archivos_pdf/nonedarecallit_conspiracy.pdf

Check it out, let me know what you think. But i repeat, "evil prospers while good men do nothing". Are you in a political party or protest organisation? If not why not? Are you interested in starting one? Australia needs you ASAP.

C J Morgan, if you really knew anything about the American "Tea Party" movement, you would know that it also contains many American people who are, or have been "of the political left" who are just as tired of the 2 major mistakes as we are here, as well as some right wingers.

Sorry to disappoint you but i do, go around "speaking" sensibly about everything you have seen on OLO & the punch. In fact some of the ideas, jokes have come from the other people i meet every day. So it all must be Mainstream, Moderate stuff, because it resonates with 80% to 90% of the population.

The reverse is true, i am afraid, as long as YOU are only associating with friends, family, other members of the red/green/getup/labour coalition then your own loony, left rubbish, is all you will hear.

Take the entire financial &/or active membership of the red/green/getup/labour coalition together with all other loony, left organisations. Add them all together, then divide that number into Australia's entire population. You will get an entirely different % figure to some bogus survey asking 1000 people leading questions about "motherhood & apple pie" issues.

Do try and be honest, Formersnag. I probably know about the Tea Party movement from the same media sources that you do, and they inform me that it is an overwhelmingly conservative, far Right movement. While there are a few disgruntled former Lefties, there is nothing moderate or mainstream about it as a political movement. Hell, they model themselves on the American revolutionaries.

<< ...as long as YOU are only associating with friends, family, other members of the red/green/getup/labour coalition >>

I own a small retail business that brings me into personal contact with virtually every member of the small, conservative rural community in which I live. I've never heard anybody here use the terms "paedophile femanazi" or "red/green/getup/labour coalition" in conversation, nor have I seen them written anywhere else except by you. In fact, you're the only person I've ever encountered anywhere who uses that terminology.

Mind you, I wish you well in your political endeavours. As I've said elsewhere, I encourage you to team up with the likes of our Boazy and campaign hard during the forthcoming Federal election campaign. You would undoubtedly provide some comic relief, if nothing else.