Day of thrills

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Last updated on August 5th, 2017 at 03:50 pm

I’m in Canberra all day for the release of this year’s Budget. Pray for my soul.

Posted by Tim B. on 05/07/2007 at 06:07 PM
    1. “One who respects the law and enjoy sausage should never watch either being made.”

      Posted by Vexorg on 2007 05 07 at 06:20 PM • permalink


    1. The Government’s tax receipts from individuals have also been much stronger than expected because of jobs growth and higher wages

      Must be those terrible IR laws.

      Posted by Dminor on 2007 05 07 at 06:25 PM • permalink


    1. > The Government’s tax receipts from individuals have also been much stronger than expected because of jobs growth and higher wages

      Gosh I’m sure you’ll get a refund, as they don’t need the money…

      Posted by Rob Read on 2007 05 07 at 06:38 PM • permalink


    1. Up for a beer?

      Sorry, expensive wine?

      Posted by fidens on 2007 05 07 at 06:39 PM • permalink


    1. Bet the KRudder is sh*tting bricks …

      … back to the bunker for 24 hrs before the first sign of talking to the meeja, as usual …

      What the bets on his response?

      Not addressing Kyoto?
      Not addressing edumacation?

      Posted by egg_ on 2007 05 07 at 06:43 PM • permalink


    1. I wonder what’s the nearest place to get alcohol.

      Manuka and Kingston are too far away.
      Old Parliament House has a bar.

      For drugs, Civic is the best or the back entrance of any Canberra police station.

      Posted by Honkie Hammer on 2007 05 07 at 06:58 PM • permalink


    1. Just read the executive summary – it is what all the reporters actually do – they leave the examination of the detail to Access econopics or ACOSSSSS – whichever way their political bent goes.

      I’m starting to wonder about this fascination with “working families” – are they the only swinging voter demographic?

      Being a new dad though, bring on the tax cuts!

      Posted by peter m on 2007 05 07 at 07:01 PM • permalink


    1. Slightly OT:

      Phatty reckons Labor needs a Heffer of their own (a la Keating)

      Posted by egg_ on 2007 05 07 at 07:06 PM • permalink


    1. Tim look on bright side there is fireworks and porn to be had in Canberra. lol

      Posted by Anthony_ on 2007 05 07 at 07:21 PM • permalink


    1. #5

      What the bets on his response?

      Not addressing Kyoto?
      Not addressing edumacation?

      Not reducing taxes, if he was smart. And it’s a good question. The government has sucked up the money like a giant vacumn cleaner and it pats itself on the back? It congratulates itself for stealing being fiscularly sage. Just what is the pourpose of government – to take the peoples money and burn it?

      Posted by Wimpy Canadian on 2007 05 07 at 07:28 PM • permalink


    1. Also O/T, but you knew this was just a matter of time.

      Posted by paco on 2007 05 07 at 07:29 PM • permalink


    1. #11 Whudathunk a democrat would blame it on the evil Bush?

      Posted by Wimpy Canadian on 2007 05 07 at 07:33 PM • permalink


    1. You have a soul??

      Posted by Go Canucks on 2007 05 07 at 07:36 PM • permalink


    1. Jeez sentenced to a day in Canberra and the budget as well. Just who have you been pissing off at the Tele with your columns?

      Posted by Nic on 2007 05 07 at 07:38 PM • permalink


    1. #10
      Not reducing taxes
      Even the KRudder knows he’d be laughed off stage on that one (per Labor’s record) …

      Posted by egg_ on 2007 05 07 at 07:40 PM • permalink


    1. Wait till I organise the ‘Free Tim Blair dancers’. Tim, your unjust incarceration at the hands of your evil Howard gaolers will not go unprotested I can assure you. Our ‘Get out’ billboard is being set up as we speak at Collector.

      Posted by Nic on 2007 05 07 at 07:40 PM • permalink


    1. How about a get-together at the Kumberra Wine Centre?

      Posted by Zoe Brain on 2007 05 07 at 07:45 PM • permalink


    1. I almost went into a coma just reading that. But then my idea of budgeting is spend until the money’s gone.

      Posted by Andrea Harris, Administrator on 2007 05 07 at 07:49 PM • permalink


    1. This can’t be right.  Isn’t Australia supposed to be drowning in the rising seas/ dying in the unrelenting GW drought/ starving in the Little Johnny Howard gulag-dictatorship?

      Can’t you people get your stories straight?

      Posted by RebeccaH on 2007 05 07 at 08:21 PM • permalink


    1. Don’t worry, (Sorry Mark L) they’re all in bed by 7 pm.

      Posted by 1.618 on 2007 05 07 at 08:23 PM • permalink


    1. I hope you took a suitably Gaia-destroying route to Canberra.

      Posted by Ian Deans on 2007 05 07 at 08:25 PM • permalink


    1. I hope Tim took plenty of booze and tucker with him. I attended the budget lockup once many moons ago – back in the old Parliament House days.
      I finished everything I needed to do in an hour then had a further four hours of sitting trying to find something of interest in the budget’s attached papers. Looked around the room and noticed all the older, wiser heads drinking stubbies and eating sandwiches which they’d very sensibly brought with them.
      Never went again so didn’t get to put the aquired knowledge to use in subsequent years. I was also told that earlier budget lockups had sometimes developed into quite rowdy affairs.

      Posted by hazza on 2007 05 07 at 08:33 PM • permalink


    1. 11 paco

      Also O/T, but you knew this was just a matter of time.

      As to the Yahoo article I posted THIS at LGF earlier today, with the accompanying note:

      Governor of Kansas.

      Madame Governor,

      These reconditioned vehicles are as good as brand new. Actually BETTER then brand new, they were never used.

      Please call for rental prices.

      Ray Nagin

      Posted by El Cid on 2007 05 07 at 08:40 PM • permalink


    1. #23: Very good, El!

      Posted by paco on 2007 05 07 at 09:09 PM • permalink


    1. Psssssttttt

      Hey everyone, a guy by the name of Li, ummm Lik…shit, Lileks, is running loose on the thread below.

      24 Paco

      Only thing I could think of quickly. I couldn’t believe what I was hearing on the Weather Channel, when they interviewed the Kansas Head Matron.

      Towns in her State, obliterated, does she think of her States people?…HELL NO! Does she think of her people now? Yep, as much as she thinks of Darfurians.

      Posted by El Cid on 2007 05 07 at 09:30 PM • permalink


    1. #8 – Every time Keating or Latham shows their mug in the meeja, the Coalition will get a boost in the polls.

      Which is exactly why Lindsay Tanner told Keating to keep him mouth shut, and to stay out of the spotlight.

      Posted by Apparatchik on 2007 05 07 at 09:32 PM • permalink


    1. Tim, maybe if you warn the city will erupt in flames if the budget is released, you’ll get a little more action out there…

      Posted by richard mcenroe on 2007 05 07 at 09:48 PM • permalink


    1. Why does the meeja bother? All it comes down to is “I’m going to swipe lots of your money, and maybe give you a little back. But not if you’re a WASP without rugmonkeys, you can get off your selfish arse and work a lot more to pay for my social engineering experiments that have produced a surly underclass previously unseen in such numbers since the industrial revolution, and a bigger pack of rent-seeking mendicants than the Borgias, with a much more developed sense of entitlement. Off you go now, people who risk their own capital are the new serfs.”

      Posted by Habib on 2007 05 07 at 10:45 PM • permalink


    1. #26
      The Bolta has a good take on it.

      Posted by egg_ on 2007 05 07 at 11:01 PM • permalink


    1. I’m with Zoe. If you’re up for a drink I think you’d find a few locals who’d be keen. C’mon Tim, drown your budget sorrows!

      Posted by Mick Sutcliffe on 2007 05 07 at 11:04 PM • permalink


    1. Ah, Budget Hearings: Finding new ways to suck the lifeblood out of wage earners.

      Well, at least they haven’t taxed thingy yet!

      Posted by Tex Lovera on 2007 05 07 at 11:10 PM • permalink


    1. Thingy…. hmmmmmm….

      Posted by richard mcenroe on 2007 05 07 at 11:39 PM • permalink


    1. #31 Tex, please don’t give them ideas.

      Posted by Ash_ on 2007 05 07 at 11:48 PM • permalink


    1. If memory serves, I recall seeing some map of this blog’s readership, and Canberra was Blair heartland.

      Maybe that explains this crowd at Canberra airport this morning.

      Posted by Margos Maid on 2007 05 07 at 11:51 PM • permalink


    1. I thought I was having a bad day, with meetings all between 8 am and 6 pm. But that’s nothing on your pain Tim.

      At least I have internet access in all of them so far, so the boredom isn’t too strong yet.

      Posted by Ash_ on 2007 05 07 at 11:56 PM • permalink


    1. Maybe that explains this crowd at Canberra airport this morning.

      Tim is the fifth Beatle?

      Posted by surfmaster on 2007 05 07 at 11:57 PM • permalink


    1. Totally off any semblance of the topic:
      Was wondering how long this would take

      Posted by Rachel Corrie’s Flatmate on 2007 05 08 at 12:19 AM • permalink


    1. OT bu tdid anyone hear KRudd at the Labor Day rally yesterday in Brissie?

      “Win the election we will” or some other backwards sounding rubbish.

      The guy has gone from a pixie to Yoda.

      Posted by The Prez on 2007 05 08 at 12:29 AM • permalink


    1. Budget ‘leaked to Greens’:

      Bob Brown: after all the build up about a ‘green’ budget, this is an anti-climax and will disappoint all Australians concerned about climate change.

      Posted by egg_ on 2007 05 08 at 12:37 AM • permalink


    1. egg_
      if this budget allocates any more than $1.50 to addressing climate change, I will be very dissapointed too

      Posted by Rachel Corrie’s Flatmate on 2007 05 08 at 12:47 AM • permalink


    1. Thought bubble above Bonmot’s cranial cavity……

      Tim has one point left on his license.
      Hume Highway to Canberra crawling with radar and Highway Patrol pursuit vehicles.
      Kilometers of straight flat freeway at Lake George.
      Tim just cannot help himself.
      Tim has no points left on licence and goes into points debt.
      No more driving for Tim for 12 months.

      (now it is safe for the rest of us to take to the highway….)

      Posted by Bonmot on 2007 05 08 at 12:58 AM • permalink


    1. It costs $7 to purchase your Purchasing the 2007-08 Budget documents today at 7:30pm. It’s amazing it’s 7.30 pm considering they’re all in bed by 7pm.


      Posted by 1.618 on 2007 05 08 at 01:25 AM • permalink


    1. #40 rcf 🙂

      Always happy for Bob to receive an anti-climax …

      Posted by egg_ on 2007 05 08 at 01:26 AM • permalink


    1. p.s. Tim Tam, did you start the little tiff with the Imam who brawled in Canberra today?

      Posted by 1.618 on 2007 05 08 at 01:31 AM • permalink


    1. Does anyone know if Tim’s still alive or whether he’s died of boredom?

      Posted by Ash_ on 2007 05 08 at 02:13 AM • permalink


    1. #8 I’m starting to wonder about this fascination with “working families” – are they the only swinging voter demographic?

      “Working families” is meaningless in itself.  It’s actually a euphemism for “working class families”, i.e., the “Kath & Kim” swinging voter way out in Narre Warren and Hoppers Crossing. Not the sort of person the Gillards and Rudds of this world like to be physically close too.

      Posted by walterplinge on 2007 05 08 at 02:18 AM • permalink


    1. Is it just me or just coincidence, but both Tim and everyone’s favourite lefty both on 1 licence point at the same time, begging for some luck until the end of the year?

      I think locking Tim inside a room with a bunch of other journos is torture indeed.

      Posted by peter m on 2007 05 08 at 02:44 AM • permalink


    1. OT/

      Major flooding event westen MO and eastern KS(river levels may top 1993 in places)

      freerepublic topic with links to further info

      NWS statement

      Widespread Flooding and Historic River Crests Expected…

      A weather pattern not observed since the Great Flood of 1993 appears to be taking shape over the Lower Missouri River Valley region today. The graphic below depicts the current weather pattern which favors a setup for a four to five day period of persistent, heavy rainfall. A strong upper level storm system will remain locked across the Southern Rockies for much of the week, allowing deep tropical moisture to stream northward. A stationary surface front, draped across southern Kansas and Missouri, will serve as the focus for repeated thunderstorm development. Several thunderstorm complexes are expected to develop from today, possibly continuing through Friday. Three to five inches of rain has already fallen since midnight Sunday across much of northwest Missouri and adjacent eastern Kansas. An additional three to five inches of rain, with locally higher amounts, is expected to fall over the course of the next several days.

      With soils already saturated, and streams/creeks/rivers already swelled from recent rains, flash flooding will become and extremely dangerous and potentially life threatening situation. The excessive rainfall will lead to rapid rises along area rivers with widespread river flooding expected. In fact, current forecasts suggest that historic flood crests will occur on several rivers across northern Missouri, breaking previous high water marks set in 1993

      Posted by Grimmy on 2007 05 08 at 03:50 AM • permalink


    1. You mean Tim has come to Canberra without arranging a get together at the B Bar or something? Do you know how desperate we are here for some non-lefty company?

      I’d even shout   – well one drink for Tim – i am a public servant after all, have to watch non-pay weeks.

      Posted by Francis H on 2007 05 08 at 04:01 AM • permalink


    1. Tim, I’d shout you a drink. I’m in Brissy right now, but I’d pay for a Canberra bar to give you a drink or 8.

      Posted by Ash_ on 2007 05 08 at 04:15 AM • permalink


    1. O/T But Steyn writes about France, why not just make a rule about linking to anything that goes through his brain. (Actually what topic is this thread about?)

      Posted by dean martin on 2007 05 08 at 04:21 AM • permalink


    1. Ash how about you pay the bar and we canberrans will drink in Tim’s honour? Almost as good. Virtually the same really.

      Posted by Francis H on 2007 05 08 at 04:21 AM • permalink


    1. #28 Habib. Once again Sir, you have nailed it. Though I have been a breeder of ‘Rugmonkeys’ and they are now out of my control and doing very well for themselves, I would prefer the ‘slushfund’ be diverted to more nation building than vote buying.

      Posted by BJM on 2007 05 08 at 04:42 AM • permalink


    1. Francis, it’s a deal.

      Have a great night out on me!

      Posted by Ash_ on 2007 05 08 at 05:04 AM • permalink


    1. Gee thanks Ash your a gem

      (whistles as he walks out he door thinking of the drinks to be had)

      Posted by Francis H on 2007 05 08 at 05:09 AM • permalink


    1. No problem Francis. John Howard treats me so well with tax cuts and such, I can affort even a night out for you and Tim.

      Posted by Ash_ on 2007 05 08 at 05:16 AM • permalink


    1. Afford* afford*. PIMF.

      Posted by Ash_ on 2007 05 08 at 05:19 AM • permalink


    1. ABC’s coverage just ended. the only lasting impression it left was Wayne Swan’s reaction. If his body language and voice was anything to go by, Costello has produced a winner. Thought Swan was about to burst into tears.

      Posted by Contrail on 2007 05 08 at 07:05 AM • permalink


    1. #41

      I prolly shouldn’t say this, but Tim had a handicap.

      Posted by kae on 2007 05 08 at 07:08 AM • permalink


    1. I just hope Tim uses a 5.7 litre(tm) or better to get to Canberra, and not an MX5 or similiar.  🙂

      Posted by surfmaster on 2007 05 08 at 07:08 AM • permalink


    1. #60
      He’d better stay away from the new 6.2 litre high output LS3 (320kW/590Nm) rumoured headed our way!

      Posted by egg_ on 2007 05 08 at 07:16 AM • permalink


    1. #60 you bastard SM! I loved my MX5.  had to get rid of it when the tin lids arrived.  Now I have to settle for driving a commodore….6.0 litres of course!

      Posted by entropy on 2007 05 08 at 07:17 AM • permalink


    1. And while we are on the budget topic, some things I would like to see:

      Tax rebates for personal transport with 6 cylinders or more (bonus rebate for V8)
      Polar bear ownership taxed at the top rate

      50% GST on hijabs

      Free Mexicans for all working taxpayers, (you had to be there, thanks JM)

      Posted by surfmaster on 2007 05 08 at 07:20 AM • permalink


    1. #62
      You enviro-vandal! 🙂

      Posted by egg_ on 2007 05 08 at 07:21 AM • permalink


    1. Mr Costello challenged them to do the same to a one-off $500 payment to aged pensioners eligible for help with power and water bills.

      Heh, has there ever been a more cynical vote buying/shoring up exercise? The government has knocked over every Labor policy initiative so far.

      The lefties will be going absolutely nuts.

      Posted by Jack Lacton on 2007 05 08 at 07:32 AM • permalink


    1. I am not a vandal,

      I am a consumer!!!!

      Posted by surfmaster on 2007 05 08 at 07:35 AM • permalink


    1. #64 The problem is that all this breeding risks putting even a commodore as insuffienct for my needs.  Should a stoop to the new tarago V6, or plump for a pajero?

      Posted by entropy on 2007 05 08 at 07:49 AM • permalink


    1. #31, 32, 33 –
      The following piece of verse appeared many years ago in the letters column of RAM (Rock Australia Magazine). I only wish I could claim authorship.

      Warning: Adolescent Adult content.

      The country was in such a terrible state
      That Parliament sat for a Budget debate.
      It was quite a few minutes before Fraser spoke
      Then he said, Sex will be two dollars a poke.

      Whether you’re short, little, long fat or thick
      A tax will be paid on the use of your dick.
      Then Billy McMahon said, Look Malcolm dear,
      Will this tax apply to the boys who are queer?

      The House was in uproar: a terrible sight!
      Members were wanking the whole of the night.
      The Speaker declared, Let the voters decide
      But I think they’ll agree to two dollars a ride.

      And now in the homes of Australia at night
      There’s many a fanny that’s closed good and tight.
      We’re taxed on our drinking, we’re taxed on our smoking,
      But who’d have believed we’d be taxed on our poking?

      If two bucks a turn is the price we must pay,
      Then the answer is this: with ourselves we must play.
      To quench our frustrations we now have to wank.
      For this state of affairs we’ve Fraser to thank.

      Posted by SwinishCapitalist on 2007 05 08 at 07:51 AM • permalink


    1. “Don’t worry, (Sorry Mark L) they’re all in bed by 7 pm.

      ..and if the stories about the house on the hill are to be believed, they then go back into the house and pretend not to know each other for the rest of the session.

      Posted by PeterTB on 2007 05 08 at 08:11 AM • permalink


    1. Has the boredom made Tim slip into a coma yet?

      Posted by Ash_ on 2007 05 08 at 08:36 AM • permalink


    1. Watching Wayne Swan squirm was entertainment enough. Can hardly wait for the Budget reply. How does the SWAT Womble point the finger at a government that raked in $15 billion in the last fortnight alone? Not big enough tax breaks? Swan already said that excessive government spending will upward pressure interest rates. Hard to spend money you don’t have, but if history repeats, then the ALP will find a way to do it.

      Posted by CB on 2007 05 08 at 09:02 AM • permalink


    1. OT – Three of the locals here in Lyon have been convicted after the riot on Sunday night and are heading off to jail.

      Link (in French)

      Posted by Villeurbanne on 2007 05 08 at 11:02 AM • permalink


    1. #72, I don’t read French. How is the behaviour going over there?

      Posted by Ash_ on 2007 05 08 at 11:37 AM • permalink


    1. “Well, at least they haven’t taxed thingy yet!”


      Posted by mojo on 2007 05 08 at 01:10 PM • permalink


    1. Never thought I’d see the day when Labour criticized a government about too much spending. (Pot, kettle etc). Don’t put pressure on interest rates, ha! ROFL, coming from none other than the 17% Interest Rate Party itself.

      Only watched the first 15 minutes or so of the Costello’s budget before being summoned to bed. More tax cuts…goody. Some waffle about the future’s fund. Money here, money there. Whatever it takes to keep Labour out of office this year, I’ll take it (I’m rather anti-government in general, but I also understand the concept of “lesser of the two evils” and there’s no way I’m going through life miserable because not enough people believe in all the things I do; not whilst I’m doing OK, at any rate).

      And yes, mojo, they do tax poo-poos, if only indirectly (tax on toilet paper, the toilet itself, the toilet water you use, laxatives, air freshener, rectinol).

      Posted by Dminor on 2007 05 08 at 01:28 PM • permalink


    1. Um, not that I need all that stuff.

      Posted by Dminor on 2007 05 08 at 01:29 PM • permalink


    1. #73 – They burnt 700-odd cars the first night and only about 500 last night.

      I guess the SMH would call that “improving”. 🙂

      The prosecutions, though, seemed to me to be amazingly fast. The riots happened on the Sunday night, they were arrested the same night and convicted today with custodial sentences (6 months, 3 months and 2 months) today. Hopefully this is the start of a new era in actually cracking down on these thugs.

      Posted by Villeurbanne on 2007 05 08 at 01:43 PM • permalink


    1. “..amazingly fast.”  I guess so.  I’m not a real big fan of the long delays in the American justice system, but two days from arrest to jail seems just a bit hmmm, injudicious.

      Maybe they’re just gearing up for the Chinese Olympics next year.

      Posted by yojimbo on 2007 05 08 at 02:16 PM • permalink


    1. It’s obscene for government to have a budget “surplus”. The only way it should be “spent” is to return it to the obviously over-taxed individuals/businesses who paid it in the first place. When the US budget showed a surplus in the 90’s, Bill Clinton explained that he couldn’t return it to taxpayers because we couldn’t be trusted to spend it on the “right” things. Yes, he really did say that.

      Posted by Kyda Sylvester on 2007 05 08 at 04:46 PM • permalink


    1. I thought a surplus was OK if used to pay off national debt. I also don’t mind if it enables the government to then release a range of tax cuts. Costello sort of does this, but he could go so much further. And maybe one day they’ll realise that hey, they don’t need all those high taxes to generate revenue; releasing the shackles on trade does that for you. Lower taxes = more revenue (in an overtaxed country). Difficult concept, I know, fellas. Maybe another twenty terms in office will spell it out for them in big neon budget ledgers.

      Posted by Dminor on 2007 05 08 at 05:17 PM • permalink


    1. #79 #80

      We now have no net National Debt, thus saving $8.5 billion a year on interest payments. Our top tax rate of 45% now kicks in at $180,000pa. Admittedly business tax receipts are at historically high levels, but so are profits. The risk in further tax cuts would be inflationary pressure (currently 2.5% pa) which could lead to the Reserve Bank increasing interest rates to cool the economy. With household debt levels very high this would be a risky measure.

      Posted by CO² max on 2007 05 08 at 05:31 PM • permalink


    1. OT, but check out the update on Gianna’s dodgy artwork. Today she’s giving head.

      Posted by Dminor on 2007 05 08 at 05:33 PM • permalink


    1. #81 – Now that the national debt has been repaid, I think its excellent that Costello is investing in these Future Funds. If they work well enough, they could reduce the future tax burden.

      In an ideal world, the government would have a principal sum earning enough interest to pay for national expenditure without any taxation.

      Posted by Ian Deans on 2007 05 08 at 05:41 PM • permalink


    1. #81 Thanks – I did hear that right about our national debt last night.

      Now, I’m not doubting it’s true, but can someone please explain to me how a thriving economy becomes “overheated” – ie: what does that mean – and how this affects interest rates. No criticisms on my ignorance, now, I’ve just laid my soul bare.

      Posted by Dminor on 2007 05 08 at 05:43 PM • permalink


    1. #83 The government as a retiree.  I like it!

      Posted by Brett_McS on 2007 05 08 at 05:49 PM • permalink


    1. #84:
      Labor in power => thriving
      Conservatives in power = > over-heated.

      Ignorant sod.

      Posted by Brett_McS on 2007 05 08 at 05:51 PM • permalink


    1. Much of the money given back as tax cuts and cash payments will be spent. Demand increases putting pressure on supply leading to price increases and inflation. In order to decrease demand Reserve Bank increases rates (credit cards, mortgages etc).

      Posted by CO² max on 2007 05 08 at 05:54 PM • permalink


    1. #87 Thanks again. That’s the way I’ve heard it, but still don’t understand it. Me and my “market forces” simple-mindedness – why not let the market offset demand the natural way, making people watch what they spend without hurting their locked-in mortgages?

      Posted by Dminor on 2007 05 08 at 05:59 PM • permalink


    1. Also, I thought prices went up when supply was a problem. Unless increased demand can’t be met. I suppose there would be a lag, but to me it sounds like things would balance out once production increased to meet the demand – then prices go down. No? Why does my head hurt? And I have to go to work, too.

      Posted by Dminor on 2007 05 08 at 06:11 PM • permalink


    1. #87 The Reserve Bank doesn’t control credit card and mortgage rates.  What it does is change the (going from memory) re-discount rate on Commonwealth bonds.  At least we now have a Reserve Bank Govenor who is not “in the pocket” of the politicians.  Ah, Bernie, those were the days…

      Posted by Brett_McS on 2007 05 08 at 06:47 PM • permalink


    1. Gianna’s dodgy artwork -DMINOR- that’s so funny. LOL

      I still think she’ll photocopy her bottom on a photo scan bed and exhibit her bum and call it a “masterpiece”. tee heee

      Gianna 1/10

      Posted by 1.618 on 2007 05 08 at 06:49 PM • permalink


    1. Much of the money given back as tax cuts and cash payments will be spent. Demand increases putting pressure on supply leading to price increases and inflation. In order to decrease demand Reserve Bank increases rates (credit cards, mortgages etc).

      And your point is?  If the govt spends it, it’s pure consumption, so the pressure on prices and inflation is exactly the same.

      Your argument is pure nonsense.

      Posted by murph on 2007 05 08 at 07:06 PM • permalink


    1. #83 Ian Deans:

      In an ideal world, the government would have a principal sum earning enough interest to pay for national expenditure without any taxation.

      I am living proof that your proposal would work. After 20 years contributing to a good super fund, I am now in my 21st year of retirement. My retirement principal sum has supported a life style and spending rate much higher than when I was working for wages. The planning assumed that the principal would be eroded to zero by the end of my life expectancy. However, the principal has actually increased by 34% over the 21 years.
      This does not quite reflect inflation so there has been some erosion of capital in real terms. But I am now increasing my spending rate so that I don’t die wealthy.
      Of course, if KRuddy gets in, he could screw the whole thing up in 6 months.

      Posted by Skeeter on 2007 05 08 at 07:34 PM • permalink


    1. #90 Of course the Reserve doesn’t have direct control over credit card or mortgage rates but they do influence the cash rate which has a direct bearing on all other interest rates. Link.

      Posted by CO² max on 2007 05 08 at 07:41 PM • permalink


    1. #90 Murph

      But the government didn’t actually spend all of the surplus. It put $5 billion into an endowment fund, the earnings of which will be used to pay for capital works projects at tertiary institutes. A way to allocate part of the surplus without direct inflationary pressure.

      Posted by CO² max on 2007 05 08 at 07:45 PM • permalink


    1. Heh. Go Back to Bed Australia, Your Government Is In Control. Right. We can’t let you keep your money, that would be inflationary. You might acquire some wealth. Then the social programs would be unnecessary, the government could be shrunk, and Armageddon would be nigh.

      Man, have I got a bridge in Arizona to sell you.

      Posted by brett_l on 2007 05 08 at 08:00 PM • permalink


    1. #95

      Savings is savings, whether done $1000 at a time by 5M Aussies or in 1 $5B chunk by the gummint. Don’t buy that drek. That money will NOT be a buffer b/t you and higher taxes if the economy slows.

      Posted by brett_l on 2007 05 08 at 08:04 PM • permalink


    1. #97
      Agreed that it will go the other way at some stage but the trend is good while it lasts. Personal Income Tax cuts in each of the last five budgets is far preferable to the alternative.

      Posted by CO² max on 2007 05 08 at 08:10 PM • permalink


    1. #5
      Herr Flick, Mr Spontaneity himself, arises from the bunker after the predicted delay:

      Budget doesn’t pass: Rudd

      Posted by egg_ on 2007 05 08 at 08:16 PM • permalink


    1. But whaddabout climate change? Wah!

      Posted by Nic on 2007 05 08 at 08:27 PM • permalink


    1. 99 – I love the rhetoric on edumacation – how much education does a stop / go sign holder need?  Or the dish washer?  Seriously, we can’t all be edumacated and selling our “knowledge” skills to asia, and simply because THEY are so far ahead of us it isn’t funny.

      I’m curious why Labor is polling so well given the economy is so strong.  seems to be a combination of tiredness with the govt and the workchoices scare campaign.  LJH needs to spend big on his new “fairness” test and sell this hard – unions got a huge jump on him with their concerted campaign and this sole issue will decide the election.

      Most people seem to think Labor will not overspend and be ok with the economy, so it falls back to job security, education and health.  On all 3 – it is easier to promise than to uphold your record.

      Labor is going to be hard to beat.

      Posted by peter m on 2007 05 08 at 08:41 PM • permalink


    1. Anything government hangs onto that it doesn’t need for direct expenditure (which could and should be slashed anyway) will be pissed up a rope in very short order- I suggest a perusal of Milton Freedman’s 4 ways of spending money, and government spending all falls in the fourth category, the perfect example of which is our moribund, impenetrable and overpriced national capital. Putting these malfeasant, sticky-fingered jackanapes in charge of not only spending but purloining great lumps of the fruits of others endevours is akin to putting ravenous wolverines into a management role at an abbatoir.

      I really cannot understand why I’m supposed to feel chuffed about having my wealth stolen and given to hordes of people who I don’t know, and don’t care about. All this does is clarify the lack of difference between the incumbent and the challenger- if there was a clear choice, I’d probably get back on the electoral roll; lesser of two evils, whooey- I want to be able to choose PURE EVIL.

      Posted by Habib on 2007 05 08 at 08:50 PM • permalink


    1. If only we could be like Bhutan where the Government focuses on Gross National Happiness rather than all this economic gobbledygook.

      We should also keep the ethnic Nepalese on a tight leash, teach Dzongkha as a second language in all schools, have a hereditary monarch and a royal police force committing torture against those of which I disapprove.

      Posted by Margos Maid on 2007 05 08 at 08:51 PM • permalink


    1. #99
      Pravda haven’t got their story together yet, nothing on-line despite radio news grabs as mentioned in the SMH article …
      … Max McKew hasn’t sent ‘em the fax yet?

      Posted by egg_ on 2007 05 08 at 08:58 PM • permalink


    1. You know Tim, if you’d only brought a few bushy-tailed possums with you, you’d be sitting on some great human-interest stories right now…

      Posted by richard mcenroe on 2007 05 08 at 09:03 PM • permalink


    1. #99
      Mr Rudd said the budget was “catch-up football” from Treasurer Peter Costello in a bid to haul back Labor’s strong lead in the polls.

      Rudd’s only experience in “catch-up football” was prolly when the team pantsed him for running low on water as the water boy …

      Posted by egg_ on 2007 05 08 at 09:05 PM • permalink


    1. Hey #87.. whats the difference then, between government bureaucrats spending money and individual people spending their own money ?

      I think its a flimsy excuse for the advocates of big government to keep their hold on our wealth and property.

      And how exactly, does spending fuel inflation ? Isn’t that assuming everybody spends 100% of their disposable income ?

      I don’t buy into this Keynesian nonsense that tax cuts fuel inflation.

      Posted by Jono on 2007 05 08 at 09:07 PM • permalink


    1. #105
      Little bear: keep paws off

      Costello tells Krudder to keep his mits out of the cookie jar

      Be typical for the lil’ f*cktard to be duped by G9 as well as f*cked-over by the unions

      Posted by egg_ on 2007 05 08 at 09:13 PM • permalink


    1. #107

      From my original statement at #81:

      The risk in further* tax cuts would be inflationary pressure (currently 2.5% pa) which could lead to the Reserve Bank increasing interest rates to cool the economy. With household debt levels very high this would be a risky measure.

      *larger may have been a better term

      My concern is that those of us with big mortgages could see our monthly payments rise together with interest rates. We got tax cuts which is the right thing but my view is that the way they have been introduced gradually since 2000 has helped interest rates to remain relatively stable.

      Posted by CO² max on 2007 05 08 at 09:24 PM • permalink


    1. 109,
      yes. Ill give the Libs one thing, they know that ‘low’ interest rates are the goose that laid the golden egg, maintaining mortgage belt prosperity and at the same time, reminding people of Labor’s past failings.

      Keatings’ problem and that of the RBA was that they put their foot on the interest rate brake too hard, too often and too late. The Libs know that ‘short taps’ on the brake over the medium term are far better in controlling inflation and inflationary expectations (owing to time lags). This is why the Libs were smart to have interest rates increase slightly over the previous period, where the results are being felt now.

      They know full well what’s good for them.

      Posted by Nic on 2007 05 08 at 09:30 PM • permalink


    1. Caveat Emptor, old bean- if you take out a mortgage you can’t service, on an asset that isn’t worth what you paid for it, why should the rest of us subsidise your userous agreement with a financial institution? The dozy bloody government is one of the driving forces behind the property bubble, by artificially capping interest rates and by giving prices an artificial boost with the idiotic 1st home buyers scheme. Anything I’m forced to contribute above and beyond paying my whack for national and civil defence and infrastructure that can’t be economically privately provided is pure extortion, and as far as I’m concerned wasted; I’d more than likely invest it (and more likely invest it locally if it wasn’t so prone to being swiped by governments- at least in SE Asia the slings you have to provide go directly to the service provider, not to some Poobah in KL, Jakarta or Manila), but if I want to spend it on replica 3RD Reich swizzle sticks, amputee floozies and Peruvian rotgut it’s my business, not some purse-lipped beancounting lickspittle in Treasury. A pox on all of them, and no Medicare rebate for treatment either.

      Posted by Habib on 2007 05 08 at 09:34 PM • permalink


    1. #107

      And how exactly, does spending fuel inflation ? Isn’t that assuming everybody spends 100% of their disposable income ?

      From the RBA website:

      First, monetary policy affects inflation indirectly, via its effect on aggregate demand and economic activity. When demand runs ahead of the economy’s productive capacity, it tends to put upward pressure on inflation – for example, buoyant demand enables producers to widen their margins, while strong demand for labour tends to strengthen the ability of employees to bargain for higher wages. These effects on wages and prices are interdependent. Price increases encourage demands for higher wages, while wage increases add to costs which in turn are often passed on in higher prices. This interdependency gives considerable inertia to the inflation process. Once wages and prices start to accelerate they are hard to slow down, underlining the need for early policy action when inflationary pressures start to develop.


      Posted by CO² max on 2007 05 08 at 09:37 PM • permalink


    1. Well Habib, I prefer the Libs who with lower interest rates and a better economy actually provide some forlorn hope that any assets that I have worked hard not to piss away can at least appreciate, improving my future standard of living.

      This is opposed to a mob that see Treasury as Winnie the Pooh’s ‘Hunny’ pot just waiting to be spent on designing the perfect Lesbian surfboard or promoting non-sexist mime.

      Posted by Nic on 2007 05 08 at 09:39 PM • permalink


    1. #111

      Of course those of you with no mortgage and no household debt are not concerned with interest rates other than the rate received on your bank deposits. To any one else with a mortgage (of any size) it is a matter of more than passing interest.

      Posted by CO² max on 2007 05 08 at 09:46 PM • permalink


    1. Please tell me they left the price of smokes and booze alone?

      Good to see both the green army and the grey army are getting dosh for new choppers too.

      Posted by Infidel Tiger on 2007 05 08 at 10:05 PM • permalink


    1. #114- The reason I don’t have a mortgage is because they are a bad investment- I sold my last property some time ago, and now lease one; to service a mortgage on my current abode would cost me about four times the lease terms, which leaves a lot of beer vouchers to dispose of however I see fit. People have been suckered by the property industry with this lame idea of “you MUST own your own home”- not a bad idea when this investment actually reflected market value; it’s now more like buying Poseidon shares when they hit $280. What people need to be reminded of is that property is only a commodity, and not worth any more than what someone else is prepared to pay; I include it in the following list (and I don’t recall the originator of this sage advice, but their blood’s worth bottling):- “If it floats, flies or fucks, rent it, don’t buy it”.

      BTW- here’s how government understands market elasticity- if demand for a good or service falls,  price rises; no wonder the Australian Yartz and Fillum industries swallow so much consolidated revenue, there’s no demand at all for their goods and services.

      Posted by Habib on 2007 05 08 at 10:09 PM • permalink


    1. #115- they don’t need to, they’re automatically indexed to the quarterly CPI (with a bit tacked on to allow for low inflation). Gaspers and tonsil polish go up every three months, so you sinners, wastrels, vagabonds and ner’do wells can sub some worthwhile social welfare endevour, like solid gold nozzles on the parliamentary bidets, or a tour of giant papier-mache’ head puppets to remote Aboriginal communities so they can learn of the true evil of Bushitlerbigmacwarforoil. Fuel used to be included in this scam (along with its local price being tied to the Singapore market rather than the wellhead cost, which is still in place) until the likely placement of heads on pointed sticks caused the PM to reconsider this policy.

      Stop whining- it’s all for your own good.

      Posted by Habib on 2007 05 08 at 10:19 PM • permalink


    1. “If it floats, flies or fucks, rent it, don’t buy it”.

      I take it your last house was a brothel converted into a seaplane?

      Posted by Infidel Tiger on 2007 05 08 at 10:25 PM • permalink


    1. The Age has sunk to a new low

      This cartoon appeared on the FRONT PAGE today. Isn’t that supposed to be for news and not editorials? They are letting their stripes show.

      Posted by Jono on 2007 05 08 at 10:34 PM • permalink


    1. The Labor Dream Team theme:

      In the eighties
      Yes, Hawkie sailed the seven seas
      In the eighties
      Yes, Keating put your mind at ease
      In the eighties
      The Unions made a stand
      In the eighties, in the eighties
      Can’t you see we need a Black ban
      In the eighties
      Come on, protect the Fatherland
      In the eighties
      Come on and join the Ruddy man
      In the eighties
      The Unions made a stand
      In the eighties, in the eighties, in the eighties (in the eighties)

      Rudd wants you, Rudd wants you
      Rudd wants you as a new recruit

      Posted by egg_ on 2007 05 08 at 10:40 PM • permalink


    1. What’s a matta you? Hey! Gotta no respect?what do ya think ya do? Why you looka so sad, it’s a not so bad, it’s a budget place Ah shut-up-ya face!

      do be do… hi eggy and tiger and margos and habib, tim b hugs

      Posted by 1.618 on 2007 05 08 at 10:45 PM • permalink


    1. #118- Other way ‘round, Old Chap; I dubbed it the “Catalina House”.

      #119- For once the Spencer St Pravda’s right- it is shameless pork barrelling, and fully expected so it’s certainly not news; the opposition would do likewise, which is the most dissapointing thing about the whole episode. The electorate doesn’t seem to be mature enough to realise that anything “given” to them in a state or federal budget has been dipped from their pocket previously, and is a pale shadow of what was purloined in the first place.

      Posted by Habib on 2007 05 08 at 10:47 PM • permalink


    1. null

      If you’re not happy do what any normal tax payer would do and write or email Mr C.
      Parliament House Contact
      PO Box 6022
      House of Representatives
      Parliament House
      Canberra ACT 2600

      Posted by 1.618 on 2007 05 08 at 10:52 PM • permalink


    1. 1.618- I’m sure Mr. C will give any bleating missive his undivided attention before deletion or slamdunk into the bin.

      Helen Coonan’s not exactly run off her feet and hasn’t responded to an issue I raised about staff corruption and mis-use of resources for their personal gain at “Our” ABC, so I would expect the same or less from Treasury (and repeat correspondence would probably result in an audit by the ATO, with extreme prejudice).

      Posted by Habib on 2007 05 08 at 10:59 PM • permalink


    1. After all,

      Ours is not to reason why,
      We’re an endless cash supply.

      Posted by Habib on 2007 05 08 at 11:03 PM • permalink


    1. #121
      Hey 1.6

      Mr C. huh? 🙂

      Enjoyed Ernie Dingo’s version of economics back in the ‘Fast Forward’ days

      Posted by egg_ on 2007 05 08 at 11:04 PM • permalink


    1. I actually had a call back from the ATO regarding a letter I sent querying if carbon credit “gifts” given to actors would be taxable.
      Its in limbo, the ATO has no ruling, but the chap I spoke to mentioned what happened to “tree farm investments” a few years back as a cautionary note. So the ATO at the moment doesn’t tax companies “producing” carbon credits, or individuals receiving them. Does this also give “dirty” industries tax free assets in the form of credits if such a scheme is introduced? It would explain why there isnt a huge resistance to such a scheme in big business.

      Im more convinced than ever carbon credits are a huge stealth tax by both government and business.
      On topic with regaurds to tax, Ive sold a property and am to be hit with a ruinous tax of around 50% on profits earned. If I had been allowed to keep that dough I would have attempted a modest business startup of my own. That would have easily turned over that 100k per year and returned about 15% PA. Because the government cant keep its paws of my prudent investment they have killed a long term tax return and failed to lower the unemployment rate by one full time person.
      I hadnt understood how tax can retard growth (rather than “greedy bosses” profits) until now.
      Wankers should be embarrased to rake in that much. Leave my bloody money alone!

      Posted by thefrollickingmole on 2007 05 08 at 11:20 PM • permalink


    1. Inflation is a general increase in the price level. The fact that bananas increase in price from $4 a kilo to $15 a kilo is not caused by inflation or inflationary. The fact that fuel increases from 80 cents a litre to $1.20 a litre is not caused by inflation or inflationary.

      These prices increase because of a lack of supply in the case of bananas caused by a dirty great wind storm and the price of fuel rises largely because of uncertainty surrounding the political stability of supplier nations.

      The only way that inflation (a general increase in the price level) can occur is if the money supply increases relative to the supply of all goods and services in the economy. Who has control over the money supply? – the Reserve Bank. It’s only the Reserve Bank that can cause inflation because it has a monopoly over the supply of money.

      Essentially what the RBA was quoted at #112 above is correct but note that they don’t say that inflation can only be their fault. The explanation is couched in terms that that the ordinary citizen would not understand so they get away scot free.
      Play 2 games of Monopoly and you will see the effect. In the first game, give all the players the starting sum stipulated in the rules and take note of the prices paid for properties when the trading takes place.

      In the second game multiply the starting money by 10. If necessary add a zero to the notes. (Some governments do this!!!) Note the increase in the prices of property when traded now.

      That is the best demonstration of inflation and its real cause I have ever seen. I learned that lession when I was about 8.

      Posted by amortiser on 2007 05 08 at 11:20 PM • permalink


    1. I’m in Canberra all day for the release of this year’s Budget.

      Tim, are sure it was released? In the States, it usually escapes, typically with the connivance of one or two jailers and the prison doctor. Bears looking into.

      Posted by paco on 2007 05 08 at 11:21 PM • permalink


    1. /Off topic

      Looks like there were half a dozen or so people who were trying to buy semi-automaitic rifles for an attack on the US military base…  in the US itself!

      Any bets that:
      (a) they do not define their religious affiliations as either Presbyterians, Buddhists, Hindus, Jews or Quakers; and
      (b) at least one of them has the name ‘Mohammed’?

      Of topic/

      Posted by Apparatchik on 2007 05 08 at 11:21 PM • permalink


    1. Posted by carbonsink on Wed 09 May 07 at 11:47am
      The budget was very disappointing on climate change, but at least Costello mentioned it this time.  In 10 years time that fact that global warming was not mentioned for 11 successive budgetsfor the past 10 budgets will be regarded as criminal neglect[/strke] stupidity.

      Posted by Bonmot on 2007 05 08 at 11:26 PM • permalink


    1. Bonmot: Good thing this is like t-ball; otherwise, you’d have been batting .000.

      Posted by paco on 2007 05 08 at 11:28 PM • permalink


    1. ooops

      Posted by Bonmot on 2007 05 08 at 11:29 PM • permalink


    1. I know paco.
      Now and then we can get too clever by half.
      Opps, clever’s a Labor insult word….

      Anyway great budget last night.
      What’s that running down Rudd’s leg…….

      Posted by Bonmot on 2007 05 08 at 11:32 PM • permalink


    1. What’s that running down Rudd’s leg…….

      It’s a ferret. My mistake, it’s Gillard.

      On the whole I do the like the idea of the government becoming a self funded entity, retiree if you like. I also like the idea of putting it in a dodgy nursing home and euthanasing it, so I can take a long holiday without it touching my piss passports.

      Posted by Infidel Tiger on 2007 05 08 at 11:46 PM • permalink


    1. #134
      What’s that running down Rudd’s leg…….

      He’s only allowed one square, too!
      (Has he Crowed too soon?)

      Posted by egg_ on 2007 05 08 at 11:56 PM • permalink


    1. bonmot, we’re going to substitute “ruddy” for “clever” in the context used above, as in, Bonmot was too ruddy by half with the strikethroughs…

      Posted by richard mcenroe on 2007 05 09 at 12:08 AM • permalink


    1. #137 richard – I wonder if we could set that to music:

      Far too Ruddy,
      A touch too Ruddy,
      It just keeps Rudding a-l-o-n-g

      Sung by Stan Freberg to the tune of
      Old Man Rudder

      Posted by Bonmot on 2007 05 09 at 12:46 AM • permalink


    1. #67
      ‘Green’ solution?

      Posted by egg_ on 2007 05 09 at 01:16 AM • permalink


    1. Thought it was a good budget, on a relative scale. Wasn’t the $3 million drought support bonus per farmer that I PERSONALLY was hoping for, but overall it wasn’t a gross incompetent mess- which, if you’ll cast you mind back, is our only alternative, currently.

      Posted by wreckage on 2007 05 09 at 01:25 AM • permalink


    1. OT: Those daffy munchkins over at Lavatory Rodeo are a catty. catty lot. They are getting into Bush because he mis-pronounced Edinburgh and gasp, stood not in exactly the same position as the Queen when she was waiting to speak. Cripes, any excuse for a bashing.

      Posted by Nic on 2007 05 09 at 01:58 AM • permalink


    1. #141

      Holy hell, good thing they didn’t see him winking at ERII.

      Posted by kae on 2007 05 09 at 11:09 AM • permalink


    1. 142 kae

      Oh no, that was caught. Click the Video Link

      Posted by El Cid on 2007 05 09 at 02:08 PM • permalink


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