Not quite, Arjay.

>>Pericles your own ref to the ATO proves my point<<

Except that last year, if you earned $16,000 last year, you would be "taxed" $1,500 on the difference between $6,000 and $16,000 ($10,000 @ 15%), then you'd get $1,500 back in the form of the Low Income Tax Offset. Net effect: $16,000 is the actual threshold before you started paying tax.

>>The reason why Pericles issues such invective is because I speak a lot of truths about 911<<

Invective? I thought I was being particularly polite.

But seriously, the reason that I pick up on your errors is because they are quickly spread across the internet, passed from blog to blog as some kind of truth, when in reality they are simply misunderstandings. Not everyone bothers to do one minute of research on these assertions, so they are repeated to and by like-minded people, rapidly forming a sort of alternate reality.

Exactly the same can be said of your 9/11 theories.

Incidentally, this might come as a shock, but Borat is satire, not documentary.

Your lack of interest in the realities of the financial world leads you to say silly things like this:

>>We need to put pressure on the RBA to start creating money like the private Federal Reserve does.This will save us right now $30 billion + interest in taxes.Our Banks borrow 30% of mortgage money from private banks who just create it with the click of a computer mouse.<<

I know that you think that money simply appears out of thin air. But it doesn't. It is created as debt. So what you are suggesting is that you replace one debt with another.

Any savings, therefore, will accrue only from the difference in those interest rates.

So what new interest rate did you have in mind? And how exactly would you ensure it was adhered to?

If you care to do the research necessary to answer those two simple questions, you will be well on the way to understanding how the whole mess fits together.

Won't help with your 9/11 fantasies but.

Foyle said;
The USA has not tried a sensible alternative.

Yes I agree a valid point. They have had some recovery, which I think
has been largely as a result of the extra oil and gas they have
obtained over the last two or three years.
Unfortunately the oil is comparatively expensive and there is no profit
in the gas.
Our GDP is so thin, that it will not take much change in the Tapis
price to eat it all up.

Anyway, it will be interesting to watch what happens in the US in January.

Arjay, I'm not up to speed with high finance, however I was of the opinion that when governments print more money, they secure it with bonds.

Perhaps someone better informed can explain it better.

As for retail, farming, manufacturing and, now mining, these industries all struggle with our high production costs and inflexible IR laws.

As we speak, labor are trying to revamp compassionate leave (I think) to include domestic violence and mental health, as reasonable grounds for taking such leave.

They have to be kidding, what about the rights of the employer, to have the confidence in delivering their goods on time, every time.

I raised the issue of confidence some years back. It was dismissed, just like my prediction that Julia would knife Kev.

More and more tenders come with time restraints and, if the timelines are not met, huge fines

With the ongoing push for more flexibility in the workplace, accurately tendering for these projects can be a nightmare and, quite often results in over the top prices, as those submitting tenders have too many variables to consider.

The sad part is, these excessive prices are not only passed on, but they also help to make us anti competitive in the market place.

Confidence is a key issue for any business and confidence is one thing that has been eroded with this labor government.

Rechtub, I am not right up with it either, but I think what happens is
that the Reserve Bank clicks on $1 billion button and transmits that
to the appropriate bank. That bank can then click on some of that
"money" and credit it to a borrower.

The borrower then clicks on that money and sends it to the dealer where
he bought his car. The dealer clicks on that money and sends it to his
bank, where he clicks on it and sends most of it to the car manufacturer.

But there is more; the borrowers employer clicks on his bank account
and sends it to his employees account, the bank may click on it and
send it back to the Reserve Bank.
However the employer's customer clicked on his bank account and sends
it to the borrower's employers bank account.

Each one of those clicks is separately added to our GDP, so you see
GDP is not all it is cracked up to be.
Some economists say they should use a different measure of economic activity.

Pericles; how many people are earning $16000 or less? This is the lower 10%. The average wage is $65,000 to $70,000.They get no $1500 tax offset.Most people would have got an increase in their pay due to this threshold being raised.My observation that this Labor Govt is bribing their way back into power remains valid.

rehctub,Our Govt creates very little money.Most of our new money comes from the private banking system as debt.Even our inflationary money gets expressed as debt.

The Govt mints coins and prints notes but most of the new money gets created via mortgages which 30% is borrowed from private banks.I'm not sure of the process of note printing.Also most of our money for infrastructure get borrowed from private banks.Our total debt is now 85% of GDP.

In the USA the Govt issues a bond which is a promise on behalf of the tax payer to repay with interest money borrowed from the Private US Federal Reserve.I'll have to research how our Govt does it.It seems that our RBA issues bonds on behalf of our Govt.Some of these things are difficult to find out.