More lefty bullying

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220 Responses to More lefty bullying

  1. ar

    I can’t watch this… I mean won’t…

  2. Browny

    Feel better now Mungo? you irrelevant old git.

  3. Carpe Jugulum

    What a bitter, smarmy, repugnant old communist who seems to think that ‘rights’ are only for the oppressed.

    Thats 4 minutes i’m never getting back

  4. Leigh Lowe

    Who is the other smug shit in the background?

  5. incitatus

    Poor old Mungo. Mostly I think lefty talk is simply an example of “the end justifies the means”, i.e. any vocables can be uttered to achieve the desired aim, but sometimes as here I get glimpses that they actually believe this stuff. And given that it’s been watered down to maintain the facade of a kindly albeit eccentric old trooper, imagine the volcanic hatred underneath.

  6. Billy the Kidder

    I just love it. Their heads are exploding and they cannot do anything about it!

  7. Pete of Perth

    Suck it up mungo bungo.

  8. steve

    Feel better now Mungo? you irrelevant old git.

    Hey, he is not THAT old

  9. Tom

    You’re giving this old has-been way too much oxygen, Doomlord. MacCallum is living proof that it’s possible to live in the same adolescent puddle for an entire working career, lying like a troll and behaving like a teenage ‘viroment activist six months into an arts and sustainability diploma at Latrobe. This clown is into his sixth decade in the journalism business (I was a colleague of his in one small part of it) and he’s still doing the same feelgood schtick for the fucktard unemployables of the left — slightly less deranged than Bob Ellis, but equally embittered than Australia still hasn’t adopted the Cuban economic model.

  10. Indolent

    I didn’t like him causing Costello of being Indolent

  11. nilk, Iron Bogan

    LOL, no money went into the Futures Fund after 2007. Hmm, I wonder what happened that year? Oh yes, Labor got in.

    Smarmy old git.

  12. Carpe Jugulum

    slightly less deranged than Bob Ellis

    Like ellis on valium perhaps?

  13. JC

    Mungo isn’t exactly the Lord’s better example in the looks department. If all else fails, he could get a job with the Taliban wearing that ridiculous beard.

  14. Lance Boyle

    Is Alan Jones chaf bag worse than Mungo’s cement boots or is Mungo just a dopey hypocrite?

    Given he’s happy to verbal Bernardi, who Mungo has to know was just referencing Pfr Singer (the left’s ethical guide), I tend to believe that it’s the latter.

  15. Notafan

    The left ran a strong campaign against Mirabella. The grass roots, I mean. I see Van Badham did some writing for them (her fee was donated by a supporter) . A great victory for the people in Indi and I hope they enjoy Cath McGowan twiddling her thumbs on the cross benches. I wish Mrs Mirabella all the best in her new appointment.
    One can only enjoy the frothing over the Wilson appointment. Did he mention water cannons? I only got to where the supercilious sort sat down in the background. Nice to be at the cafe and have the soy lattes so very close at hand. Thankyou too for pointing out that the future fund has been dormant since 2007.
    Please Mr Brandis can you appoint some more Tim Wilsons in the new year? We are hoping for some nice luvvie head explosions.

  16. Tintarella di Luna

    Mungo’s been living up in God’s country now for years, and the old codger still hasn’t found Him. Every now and again a rello of mine sends down some of the insane scribblings of this ‘journalist’ that appear in the local rag , they are malodorous to say the least, probably less so than the ‘journalist’.

  17. Tintarella di Luna

    In the New Year I’m sending in my CV to George Brandis with my application to become Disability Discrimination De-Commissioner.

  18. When you see a face like his, and the accompanying standard of grooming, you realise that sometimes hookers really deserve the money they earn.

  19. C.L.

    Crazy old man mutters to the salt and pepper shakers at a cafe.

  20. Rabz

    Sorry, but you can’t post a video of that and not expect a response along the following lines – that is, what a creepy, disgusting unflushable ol’ hippie deadshit.

    And no, I’m not watching the video. the screenshot is vomit inducing enough as it is.

  21. Tintarella di Luna

    And no, I’m not watching the video. the screenshot is vomit inducing enough as it is.

    quite so and in the flesh by unhappy happenstance — errrrhhhh (shudder)

  22. Michel Lasouris

    Silly irrelevant old fart. It’s no wonder the entire left is on the nose when they allow someone so patently short of intellect to stutter on like that. He looks exactly like a homeless deadbeat; and I doubt he has ANY excuse. Shame about the female behind…reminds me of that old lady in the kitchen equipment advert; the one with the fading tatt circling her arm when she say’s something like ” not all my decisions in the past were so good”
    Anyway, what exactly does said deadbeat do? I can’t recall seeing him before.
    It’s telling that no-one has a good word for him on this site; not even a troll (yet?)

  23. blind freddy

    More lefty bullying

    Would be related
    “Mongo is a fictional character appearing in the Mel Brooks 1974 film “Blazing Saddles.” He is portrayed by Alex Karras. Described by Jim, the Waco Kid(Gene Wilder) as “more of a what” than a who, Mongo is a tall, violent, unintelligent creature with superhuman strength and a bullying nature”?

  24. Motelier

    Sorry, but you can’t post a video of that and not expect a response along the following lines – that is, what a creepy, disgusting unflushable ol’ hippie deadshit.

    And no, I’m not watching the video. the screenshot is vomit inducing enough as it is.

    I have been wondering how TonyN (Unflushable) has been getting on.

  25. Gibbo

    Mungo, that thing you’re feeling… it’s called irrelevance old Son. Get used to it.

  26. Token

    Please it is M0nty’s job to deeply drink from the sewerage leftards like Mungo vomit on The Twits, & to regurgitate the vile crap verbatim.

    If you start posting the insane utterings directly from the Borg the fool will be left with nothing to post.

  27. Tintarella di Luna

    Maybe it’s just me but Mungo MacCallum brings to mind those bearded molluscs Peter Slipper wondered about.

  28. candy

    I guess he’s some sort of Bob Ellis type? It’s a dreadful awful beard, he looks shabby as if he can’t take care of himself. I think he’s living in the past, poor old codger.

  29. Token

    Mongo is a tall, violent, unintelligent creature with superhuman strength and a bullying nature”?

    Which vile lefty is this a description of? It could one of so many.

  30. Tintarella di Luna

    Which vile lefty is this a description of? It could one of so many.

    I thought of Catherine Deveney but I don’t think she’s very tall perpendicular-wise I mean, horizontally might work.

  31. Viva

    Hasn’t changed since his Nation Review days – mean and dozy like a ferret.

  32. Token

    One would think after all those years in the industry he’d have insight, but no it is tin foil hate conspiracies for people as mentally challenge as he.

  33. David Black

    A few posters here are comparing Mungo to Bob Ellis. I can remeber when they were both BMOC’s at the University of Sydney in the early 60′s. There was a third one; but I can’t remember who he was. Ellis and MM have been cemented into the Outer Regions of the ALP since then, acting as conduits between the Party and the Arts/Journalism types. For all their hobnobbing with the Inner Circle, they’ve never really cracked the big time. The election last September was their last hurrah.

  34. J.H.

    The Unflushable Turd himself, Mungo McCallum.

    I quite enjoyed watching his impotent fury being strained through the porous logic of his argument. The resulting excrement then fingerpainted on any flat surface available. A childish man indeed.

    What Mungo “The Turd” McCallum forgets is, that Andrew Bolt is a voice defending the “Miserable, the oppressed, the powerless”, as he puts it……… And Andrew Bolt was silenced by laws attacking freedom of speech.

    Andrew Bolt was defending aboriginal Australians who left that oppressive culture and joined the liberal democratic multi racial society of Australia with its Western values of individual freedom.

    Andrew Bolt merely criticized Aboriginal supremacist activists who were using illogical race based funding and privileges…… and he was silenced by illogical anti speech laws.

    Mungo “The Turd” McCallum is a man who supports tyranny because the loves the freedom of his own violent words and would invite as many laws as possible to maintain a political advantage for his hatred…………The last thing Mungo “The Turd” McCallum wants, is to be responsible for Freedom. For living within the tenets of a responsible and free society. A liberal democratic society. The guy has no idea of the meaning of any of it. He runs on the emotion of his own hatred…… and thinks it is a lesson to us.

    No Mungo. We already know that. It is you who are on training wheels. We will speak and you can go fuk yerself. We will not be silenced by your bullying or your “laws”.

  35. John Mc

    It’s a bit rich that Mungo, the ole’ turd, is criticising other people for being insufficiently successful. I don’t think anyone would consider his life’s work particularly significant, including himself.

    And yes Mungo, you can insult Tim Wilson and gay folks if you like, even if it’s just to make a point. It says more about you than it does anyone else. That’s the value of free speech.

  36. andy

    what i consider to be the absolute heights of good humour,is when mungo was on radio national talking among ‘we are us’,and he was describing what he did to his families financial legacy. mungo came from old money,and when he inherited his pile,he went all out to invest in his ethics. the bemused mungo still can’t quite figure out where all the money went,but he did announce on radio that after he went broke, he was happier living hand to mouth campaigning for the cause,with a future on the old age pension,than trying to manage money.

  37. kae

    David Black
    Would it have been Richard Neville?

  38. .

    Good morning, Motelier.

    Gibbo – ouch!

  39. H B Bear

    What is this? Teh Dumb?

  40. Cheryl

    So, Jones and Bolt will be able to libel and defame whomever they like. Don’t we already have sufficient laws to deal with those issues?

  41. .

    Ah, Dick Neville.

    Earl of Warwick?

    Ah no the self described “futurist”.

    Funny how his future depends on curtailing civil liberties and impoverishing us with socialism.

  42. James of the Glen

    A highly unattractive and bitter ignoramus. And then another old yellow fanged extra thought he’d get in frame to provide the appropriate responses to his master’s drivel.

    Not to be outdone, Toots had the final seconds of infamy of what looked and sounded like a knees up for the local dementia support group.

  43. Tex

    Watching this video was the most fun I’ve had since my last prostate exam

  44. Techno

    “LOL, no money went into the Futures Fund after 2007. Hmm, I wonder what happened that year? Oh yes, Labor got in.”

    And there we see the catallaxy fact-checking in action.

    Actually, quite a lot of money went in to the future fund in 2008 and 2009 from the federal budget. I’m not so sure about since, though.

    So you’re wrong. But Mungo’s wrong too … at least about that.

  45. cynical1

    What a dirty looking grot.

    If he was near me, I’d be checking my tetanus shot was up to date.

  46. mareeS

    Mungo from Bongland. He used to be fairly entertaining in 1970. Now another boring old git who never got over his student days. Spare us any more of him, it’s too depressing to see people who once had a spark now capable only of mindless rants.

  47. JC

    Techo

    Evidence of your assertion?

  48. Mark from Melbourne

    I thought poor old Mungo had shuffled off many moons ago. Watching that, I’m beginning to think that was just wishful thinking.

  49. John Comnenus

    Just listened to the rant. What an arse clown. What about all the Lefty’s who got appointments under Rudd and Gillard. Mike Kaiser to the NBN Mungo? What a loser and quite rightly identified by all here as a bully.

  50. JC

    There was a $3.9 billion in 2008, techno, you clown. There have not been any further transfers since then and that amount (3.9 billion) was a reduction from the sum he Howard government had pledged for the year. So in other words the Liar Party reduced the amount.

    They made no other transfers in a period when the nation experienced the largest terms of trade spike in our history.

    Here:

    You clown.

    http://www.finance.gov.au/investment-funds/future-fund/investment-performance/

    You are a fucking clown, Techno. That’s already been established.

  51. .

    Yes Techno – the rd 3 sale of Telstra proceeds and Costello’s last budget surplus.

    Very unimpressive.

    You are giving Swan credit for what Costello did.

    You now claim to know nothing of what happened after this. I suspect you are bullshitting us.

    This is from The Australian, May 24, 2010

    According to the Department of Finance, the “uncommitted balance” of the Building Australia Fund was $705 million at the end of March, a 94 per cent plunge compared to the value of its original capital.

    As well, the department reported the money now available from the Education Investment Fund and Health and Hospitals Fund for new long-term nation-building projects stood at $4.7bn, 60 per cent down from their combined start-up capital of $11.5bn. The assets of the three funds are managed by the Future Fund board of guardians and are earning about 1 per cent a quarter.

    The Rudd government has eaten up 76 per cent of the capital in the three nation-building vehicles to fund its stimulus packages and spending on rail, ports, roads, cancer treatment facilities, university buildings and research centres.

    In Tuesday’s budget, Treasurer Wayne Swan announced the establishment of a new infrastructure fund, starting in 2012-13, with an initial contribution from the commonwealth of $700m to assuage the mining sector over the introduction of the contentious resource super-profits tax.

  52. jumpnmcar

    So this idiot dislikes the fact our longest serving Treasurer ( immaculate record ) was “ installed ” as head of the Future Fund that he created , yet, when Carr ( a shithouse premier rejected by his state ) was “ installed ” as Foreign Minister without 1 vote ( arguably 3rd most senior position in the country ) it was a brilliant move deserving praise.
    Nepotism was rife under ALP, ya womble.

  53. Perpetual Motion

    I was advised when young never to trust a man with a beard. It has proven to be one of the most reliable pieces of advice I’ve ever received.

    Apologies to any hirsute Cats, who must be an exception to the rule.

  54. JC

    And to top it off, Costello had a funding schedule created to transfer a given amount each year in order to make the fund sustainable. The Liars raided that part of future commitments. They also mauled the RBA balance sheet which the new government topped up as one of its first acts.

    Don’t come the raw prawn with us, Techno, you appalling dunce as you’ll end up with your fucking head handed to you on a platter.

    Now fuck off.

  55. Tintarella di Luna

    Don’t come the raw prawn with us, Techno, you appalling dunce as you’ll end up with your fucking head handed to you on a platter.

    Now fuck off.

    Thanks JC and rounded off nicely.

  56. I was advised when young never to trust a man with a beard. It has proven to be one of the most reliable pieces of advice I’ve ever received.
    Apologies to any hirsute Cats, who must be an exception to the rule.

    Naturally.

    Perp Mot, that aside, it likely depends on where the bearded one is from & their occupation.
    Beards are rarer than hen’s teeth among bank clerks, newsreaders, and lawyers. However among field geologists, sea captains, RAN Petty Officers, stockmen and the like, a well kept (or well kept but flowing) beard is fine.

  57. Tintarella di Luna

    Apologies to any hirsute Cats, who must be an exception to the rule.

    Well I certainly am, especially thanks to my trusty Epilady

  58. JC

    Stubble is okay. Maximum 3 days. But fully maxed out beards are disgusting. I notice the hipster contingent have full blown Ned Kelly beards these days. I want to vomit when one of those creatures approaches my table at the restaurant wanting to take orders. I’m thinking of asking for someone without a beard one of these days as I can’t stand these hipster doofuses. Their filthy growth could end up in the plate.

    Mungo’s disgusting beard is vomitous.

  59. Perpetual Motion

    Steve at the Pub

    However among field geologists, sea captains, RAN Petty Officers, stockmen and the like, a well kept (or well kept but flowing) beard is fine.

    That’s funny. My Dad was a bearded field geologist, so it clearly wasn’t him that gave me the advice. But your point is taken. So, I’ll refine it…Don’t trust anyone in business or politics with a beard.

  60. Hang around Navvies one of these days JC. A beard on a man who works, or some rugged outdoors type, is fine. On them, three days of stubble looks like they’re busy, a beard looks professional.

    On a hippie, a bank johnny, a uni lecturer, or others who don’t/won’t work, a beard looks ridiculous.

    On some occupations, lack of a beard looks quite ridiculous. Santa wouldn’t be the same without one.

  61. That’s funny. My Dad was a bearded field geologist….…Don’t trust anyone in business or politics with a beard.

    Possibly sound advice. The advice I was given was: “Don’t trust, ever, a lady who drinks whisky

  62. johanna

    So, Costello should not be trusted with the FF because it was “his baby” and anyway he is a lazy git. Sophie M. should be buried in concrete. And Wilson is a spoiled brat blah blah blah. But if anyone ever criticised Gillard it was sexist bullying.

    I guess this crap plays well in Byron Bay, which should be nuked despite having some attractive natural features. It is a Green infested cesspool that makes Tasmania look like Whyalla in comparison.

  63. gabrianga

    Shit! Moron McCallum is still alive. The clown of the Press Gallery in Old Parliament is now writing for

    1 SMH?
    2. The Age?
    3 Global Mail?
    4.The Guardian (Australian version)?

    None of the above.

    The drunken old tosser is scribbling a few less than coherent pieces for none other than some Northern NSW Weekly.

    This crock makes Secco and Co look like Far Right warriors and should have been closed down at the same time our Parliamentarians moved to new premises.

  64. Rabz

    makes Tasmania look like Whyalla

    Gold!

    :)

  65. Rudiau

    Byron Bay, brings back fond memories. Obtained my diving certificate with Bill Sivesters Diving, a five day course if I remember correctly accommodation included.
    Our first free dive was watching Bill swim with grey nurses in a gutter about six – eight metres below us.
    Julian Rocks, one of the last southern outcrops of coral reef, (I think the last is off Wooli).
    Two girls in the class would show us up every time with a bottle in that they could last at least fifteen minutes longer than the boys. Girls have a larger lung capacity than boys.
    The night life we were living wouldn’t have helped any.
    Ahh yes good memories.

  66. jumpnmcar

    I was advised when young never to trust a man with a beard. It has proven to be one of the most reliable pieces of advice I’ve ever received.

    Yep, me too.
    Beards hide “gives “

  67. Jessie

    That would be grand Ralph at 12.21,
    Look forward to your proposed interview with Robertson of Duck Dynasty and Paglia.
    …………………..
    ‘Once upon a time in the ’60s, in the days when the culture wars began, there lived an obscure first-term Governor of Maryland–a sleek-looking silvery man who wore sharkskin suits and had hooded eyes that got very small when he was angry. At such moments he looked like a bullet. His name was Spiro Agnew.
    Everyone in America was angry in the spring of 1968. After Martin Luther King Jr. was shot, there were riots in many American cities, including Baltimore. Governor Agnew called in the city’s black civil-rights leaders and gave them holy hell.
    ……………..

    …….In a 1969 speech against war protesters, he said, “A spirit of national masochism prevails, encouraged by an effete corps of impudent snobs who characterize themselves as intellectuals.” “In the United States today,” Agnew told a 1970 audience in San Diego, “we have more than our share of the nattering nabobs of negativism.” He went after “pusillanimous pussyfooters” and “vicars of vacillation” and “the hopeless, hysterical hypochondriacs of history.’……..

    The NSW north coast and Tasmanian types (not occluding academic sin the industry) feeding from and organising for further public income supplementation, more recently philanthropic trough of green and associated economy income, serves to mask the living horror of [utopian remote Indigenous], but not for their children be that horror of gated utopian non-self funded communities .

    The very nature of ecological tourism zoos (seen by McCallum’s interest in Rio Tinto’s activity in Gladstone aka demise of the first Traditional Owners agreement on Rio’s Gove bauxite mining) accessible by ‘apply for permit’ only and other such cultural ventures deserve discussion, publicly. Hunting and attacks on feminism in a time of amendment to the Preamble of our Constitution has never looked so interesting. We can look forward to some quacking-good Songlines prior to your proposed interview.

  68. jumpnmcar

    (“gives” are like “tells” in poker)

  69. cohenite

    MacCallum gets regular gigs at the drum:

    http://www.abc.net.au/unleashed/mungo-maccallum-28468.html

    I believe there is a stipend for getting published at the Drum although I never had that happy experience.

  70. Rudiau

    “Don’t trust, ever, a lady who drinks whisky“

    Steve, Mrs Rudi drinks whiskey water and ice in a tall glass. Sixteen years together still going strong. Loves wine as well.

  71. Rabz

    I was advised when young never to trust a man with a beard. It has proven to be one of the most reliable pieces of advice I’ve ever received.

    Well, well, well – that reminds me of another noted truism:

    Never trust a hippie.

    You heard it here first, peoples.

    :)

  72. Bob

    What a shame. Mungo used to write exceptionally funny articles for the National Times in the early 70′s.

    Mind you, he was generally writing about McMahon so the flow was quite natural.

  73. JC

    MacCallum gets regular gigs at the drum:

    Why of course. How could he not?

    I believe there is a stipend for getting published at the Drum

    Of course. How else are permanently out of work hasbeens going to earn some cash?

  74. .

    Bob

    An old lefty coot has recommended ‘Dark Palace’ to me.

    Are the stories I hear true?

  75. jumpnmcar

    Never met a hard working Tradie that sports a beard up here, to hot.
    If I didn’t care for my wifes opinion I’d shave my head too ( full, lush crop that it is :) )
    Met a few arrogant, condescending, patronising teachers with superiority issues sporting them though.
    Was Mungo a teacher by chance ?

  76. JC

    Never trust a hippie.

    according to a book I was reading a little while ago, these sandal wearing vermin first appeared in Italy around the turn of the century in regions like Trieste and Milan. They were basically no different to the sandal wearing, unclean vermin we saw in the 60′s and even said the same things.

    Funny how history repeats itself.

  77. Perhaps I’ve misunderstood this libertarian lark but I, for one, have been wandering along all these years believing in the primacy of individual liberty and reckoning withal that individuals may do as they lief with their own bodies—and, perforce, their own faces—without requiring gratuitous grooming advice from me.
    I note that Phil Robertson of some recent notoriety said, “There are two kinds of people without beards: boys and women; and I am neither.”

  78. harrys on the boat

    To be honest, Mungo rivals PVO and m0nty in the arse clown stakes.

  79. Techno

    “There was a $3.9 billion in 2008, techno, you clown.”

    That’s correct. That’s what I said. Good for you.

    “There have not been any further transfers since then …”

    No, that isn’t true. The poster “.” got closer to reading the links than you did and noticed that there are other funds managed by the future fund board. Go read the links again.

    I posted some links to the actual legislation, which make this a bit clearer, but the post is still in moderation. You can find the legislation for looking on comlaw for:

    “Nation-building Funds Act 2008″
    “Future Fund (Crediting of Additional Amounts) Determination 2008″
    “Nation-building Funds Amendment Act 2009″

    It’s all there. Between 2008 and 2009 an additional 10 billion was paid to the Future Fund to manage the “Building Australia” and “Education Investment” funds. That’s in addition to the 3.9 billion paid to the Future Fund itself in 2008.

    Go read it again. At no point did I say anything about what the liberals would have done, or whether you need to feel happy about where the money went to or came from, but the previous government did in fact give money to the future fund management group (which Costello will be the Chair of) in 2008 and 2009. What I said was correct – Mungo is wrong, and so are you.

    “You are a fucking clown, Techno. That’s already been established”

    I’m glad to help you with your education – you’ve probably never bothered to look into what the future fund actually is or does until today.

    Now back to you to start changing the subject so that you can claim “victory” on an unrelated topic.

  80. jumpnmcar

    Perhaps I’ve misunderstood this libertarian lark but I, for one, have been wandering along all these years believing in the primacy of individual liberty and reckoning withal that individuals may do as they lief with their own bodies—and, perforce, their own faces—without requiring gratuitous grooming advice from me.

    True, and I am free distrust them , discrimination if you will.

  81. JC

    Hold the fort. This moveable beard is a public intellectual.

    Mungo MacCallum was born in Sydney and educated at the elite Cranbrook School, a short walk from where he lived with his mother and father in his grandmother’s house in Wentworth Street, Point Piper. After leaving school, he went to the University of Sydney, where he obtained a BA with third-class honours.

    So this genius ended up with a third class honors BA degree . Did he just have to show proof of life? It’s like that other genius, Chipmunk Dredd Scott Carr coming out with a BA from NSW in the 60′s.

    When you look at their resumes, the left aren’t eggsactly lighting the world on fire with their smarts.

  82. I contend that the “b-quote” tag—so helpfully placed next to “b” and “i” &c. directly above the comment field—has a rather useful function.

  83. Never met a hard working Tradie that sports a beard up here, to hot.

    Tradies are noted for many things, but not for commonsense prophylactic measures against skin cancer.

  84. Techno

    Aaah, The Australian. Fighting the good fight.

    “According to the Department of Finance, the “uncommitted balance” of the Building Australia Fund was $705 million at the end of March, a 94 per cent plunge compared to the value of its original capital”

    That’s correct. That’s exactly what was supposed to happen. The money wasn’t handed over so that it could sit in an envelope – it was supposed to be invested. When you invest a quantity of cash, the amount of cash you have left over to invest in other projects does in fact decrease. As of September 30, the original Future Fund itself only has 9.6 per cent of its assets held as cash

    JC, I’ll eat up some of your furious-googling time. Here’s the link – http://www.futurefund.gov.au/__data/assets/pdf_file/0003/5754/Portfolio_update_to_30_Sept_13.pdf

  85. jumpnmcar

    Never trust a hippie.

    Hippies are OK but they morf into Mungos and Obamas, forgetting about the freedoms the loved.

  86. JC

    Techno

    Liars cut the projected allocation from where costello wanted it to be (in order for the super of those asshat at in the APS to be self sustaining). In other words they redirected the funds.

    3.9 billion over the six years Liars were in and taking into account of the regular raids on the RBA balance sheet, the scum you support stole the money from Mother Hubbard’s cupboard. Keeping in mind that we had a commodity spike of historic proportions $3.9 billion was laughable.

    You really are a deceiving dunce.

  87. Rabz

    Hippies are OK

    NO. They were and are, never OK.

    Enough.

  88. JC

    The money wasn’t handed over so that it could sit in an envelope – it was supposed to be invested. When you invest a quantity of cash, the amount of cash you have left over to invest in other projects does in fact decrease.

    Okay fuckface, then tell us what the rate of return is on the funds they removed from the future fund to be “invested” elsewhere.

    Start with

    1. NBN

    2. School computers

    3. The Lurch/ Rudd insulation fiasco which is about to be royal commisioned up the arse.

    As of September 30, the original Future Fund itself only has 9.6 per cent of its assets held as cash

    So fucking what, you moron? It doesn’t mean that if they received the funds they were supposed to be getting the cash position would be any larger in terms of %. The managers decide on the proportion of the fund to be held in cash.

    You really are a fucking hair splitting ignoramus and possibly one of the stupidest lefties, Leftie central has sent troll the Cat.

    And wipe that egg off your face, it’s disgusting.

  89. jumpnmcar

    Rabz
    I think we my be talking about different hippies.
    The city ones are scum, the scrub ones are ” Be what ya wanna be, do what ya wanna do, yea,eh,eh”
    This Mungo is a Sydney elite school hippie, the scummiest type.

  90. Techno

    “Techno”

    You’re moving the goalposts again, JC. Can you handle any argument straight-up?

    “Liars cut the projected allocation from where costello wanted it to be (in order for the super of those asshat at in the APS to be self sustaining). In other words they redirected the funds”

    Relevance?

    “3.9 billion over the six years Liars were in”

    Actually, just one year. Just as I said, and you asked me to prove. Which I did. What exactly is your problem with just admitting that you were wrong? Why do you have to keep changing the subject?

    “and taking into account of the regular raids on the RBA balance sheet”

    You’ve said that more than once, and now I’m going to ask you to explain what you mean by that. Yes, the government did borrow money, but that’s not quite the same thing as “raiding the RBA’s balance sheet”. I have the monthly tables of assets and liabilities in front of me, and I’d love to know what you think you mean by that. Maybe you think you’re saying that the RBA’s cash or gold reserves were cut back, but no – that did not happen.

    “the scum you support stole the money from Mother Hubbard’s cupboard. Keeping in mind that we had a commodity spike of historic proportions $3.9 billion was laughable”

    Two things: (1) Mother Hubbard is not a real person (just saying, I can’t be completely sure that you’ve googled that yet), and (2) mining is not the be-all and end-all of the Australian economy, or even our exports, for that matter.

    You really are a deceiving dunce.

  91. Techno

    “Okay fuckface, then tell us what the rate of return is on the funds they removed from the future fund to be “invested” elsewhere”

    First, you show me your evidence that any funds were removed from the future fund.

    “So fucking what, you moron? It doesn’t mean that if they received the funds they were supposed to be getting the cash position would be any larger in terms of %. The managers decide on the proportion of the fund to be held in cash”

    I think you just agreed with me. I was responding to “.”, who was making a big deal about the amount of cash in the Building Australia funds. Read the posts, then respond.

    “You really are a fucking hair splitting ignoramus and possibly one of the stupidest lefties, Leftie central has sent troll the Cat”

    I’m sure you’re a much nicer person in real life. You can’t possibly be as obnoxious and ignorant as you are online.

  92. Techno

    JC, while you’re furiously googling for more sound-bites, just consider that all you really need to do is post the following words:

    “I’m sorry Techno, you were right and I was wrong. Thank you for this opportunity to educate myself”

    Sadly, I fear that you’re about to introduce some other entirely irrelevant topic. Maybe something about interest rates, or Icelandic cod fishing or maybe the ozone later.

  93. manalive

    Mungo MacCallum was born in Sydney and educated at the elite Cranbrook School, a short walk from where he lived with his mother and father in his grandmother’s house in Wentworth Street, Point Piper …

    Proof of the truism that wealth and substance can’t make it past three generations.

  94. JC

    Go upthread and read it again, you fucking moron. I came in after you showed up here telling one and all we need to fact check. You posted two basically undecipherable links where you couldn’t tell what was natural growth from the fund’s investment and what transfers occurred.

    As for requesting proof, well yes I wanted to see the evidence that back syour assertions, as i don’t believe what you say.

    And what did I find out when I looked other information about the fund? I found Liars had transferred only 3.9 billion in one of the six years cutting the funding required by Costello in order to make it self-sustaining.

    Oh, but you argue the funds were redirected to other “investments”… which you mean like the NBN, the school computer scam, the Lurch/Rudd insulation fiasco, and of course the school halls… who could forget the school halls. When asked to provide an implied rate of return on those “investments” you’re changing the subject.

    As for the RBA balance sheet. Of course they didn’t raid the gold and reserve holdings, you irritating slob. What liars did was ransack the profits of the RBA with the consequential effect being that the CB’s leverage was increased.

    I’m placing you in the same category of stupidity and rank dishonesty as every single moronic leftwing turd who’s shown up here.

    Congratulations, you fucking asshat.

  95. ….you fucking moron…you irritating slob….moronic leftwing turd… you fucking asshat…Okay fuckface… your fucking head handed to you on a platter…So fucking what, you moron…You really are a fucking hair splitting ignoramus…Now fuck off…You are a fucking clown…

    I think Paul Keating’s undercover chatname “JC” has just been blown.

  96. JC

    For someone who’s used similar language on this thread, you’re hardly the Federal minister of virtue and goodness.

    3.9 billion over six years is 1% per year apportioned out. In other words a fucking rounding error and the rancid douchebag wants to hair split this amount.

    Go fix the keg hose, Stevie. I think it’s broken.

  97. John Mc

    Yes, Kae. It was.

    Richard Neville, Mungo McCallum and Bob Ellis! What a club of irrelevant old fools.

    That they were at least vaguely at the forefront of any political movement in this country, even many years ago, is just embarrassing.

  98. cynical1

    A map of Tassie is usually above the @@@@..

  99. For someone who’s used similar language on this thread, you’re hardly the Federal minister of virtue and goodness.

    The careful reader (that may not be you JC) would note that the only times I have used “similar language” is in direct retort to unprovoked ill-mannered language from another commenter (that would be you).

  100. Techno

    “Go upthread and read it again, you fucking moron. I came in after you showed up here telling one and all we need to fact check. You posted two basically undecipherable links where you couldn’t tell what was natural growth from the fund’s investment and what transfers occurred”

    Was the one titled “Transfers to the Future Fund” the one you found more ‘un’decipherable, or the one where you had to scroll a third of the way down to the bit titled “Transfers to the Nation-building Funds”? I thought they were pretty straightforward, but I assuming that you could read. Sorry.

    “As for requesting proof, well yes I wanted to see the evidence that back syour assertions, as i don’t believe what you say”

    And I’m happy to help.

    “And what did I find out when I looked other information about the fund? I found Liars had transferred only 3.9 billion in one of the six years cutting the funding required by Costello in order to make it self-sustaining”

    Did they contribute cash to the fund or not? Yes or No. It’s very simple.

    “Oh, but you argue the funds were redirected to other “investments”…”

    Did I? Where did I do that? Quote me, please.

    ” … which you mean like the NBN, the school computer scam, the Lurch/Rudd insulation fiasco, and of course the school halls… who could forget the school halls. When asked to provide an implied rate of return on those “investments” you’re changing the subject”

    Try to remember that I never brought any of that up – until I see some quotes explaining where you’re getting that from I’m just assuming that you dreamed it. I also have no idea why you think it’s relevant to a discussion about money paid into the future fund. But according to the link provided by “.” above, the “Building Australia” and “Education Investment” funds are (supposedly) returning 1% quarterly. I can’t vouch for that though, and I’m not trying to.

    According to this link:

    http://www.finance.gov.au/sites/default/files/BAFLivelistofInfrastructureProjectsasat010913.pdf

    Of the 10 billion paid into the Building Australia funds, a few hundred million has been spend on regional blackspots for broadband (covered under the NBN umbrella) and about 2 billion used as capital injection for NBN Co. I don’t know what the return is on that, at this point – I suspect it’s pretty low, given they’re still building the network, and I frankly don’t believe anyone’s projections.

    “As for the RBA balance sheet. Of course they didn’t raid the gold and reserve holdings, you irritating slob. What liars did was ransack the profits of the RBA with the consequential effect being that the CB’s leverage was increased”

    You mean they did what every government does? (or would do) The central bank isn’t an investment house – its role is to manage the money supply. If it makes a profit, then that goes back into general revenue, just as it always does. The new government didn’t “prop up” anything it all – it just shoveled some money into the bank so it could bring forward some debt and hope to blame the ALP for it, then collect the dividends later and crow about their good management. It was a political stunt.

    “I’m placing you in the same category of stupidity and rank dishonesty as every single moronic leftwing turd who’s shown up here”

    Yeah, you keep saying things like that, but I don’t think it has anything to do with me – I think that’s just how you see everyone who doesn’t agree with you. Do you think that makes you more convincing or something?

  101. Techno

    “I think Paul Keating’s undercover chatname “JC” has just been blown”

    No. Keating was much funnier.

  102. JC

    You mean they did what every government does? (or would do)

    Every government? Huh? The last one? You clown?

    The central bank isn’t an investment house – its role is to manage the money supply. If it makes a profit, then that goes back into general revenue, just as it always does. The new government didn’t “prop up” anything it all – it just shoveled some money into the bank so it could bring forward some debt and hope to blame the ALP for it, then collect the dividends later and crow about their good management. It was a political stunt.

    Oh please stop the nonsense. The RBA’s job is clearly shown on it’s website. What does “managing the money supply” even mean. If you don’t understand this stuff stop fucking talking about.

    Liars, rifled the RBA balance sheet and raised it’s leverage above international prudential guidance.

    Shut up and go away.

  103. Zulu Kilo Two Alpha

    I make no comment here, I merely observe that I have seen a shearer butted full in the crutch by a (horned) ram (gored as well, but no serious damage) who used less good broad Anglo Saxon….

  104. tomix

    The Wiki entry also states that Mungo Sr.[middle name Ballardie] was one of those “much loved ABC television presenters.
    I think luvvie Jack Thompson also had a similar paternal background..

  105. Techno

    “Oh please stop the nonsense. The RBA’s job is clearly shown on it’s website. What does “managing the money supply” even mean”

    Woah. Seriously? I’m not sure what’s worse – that you don’t understand what money supply is, or that you don’t understand the correct use of a apostrophe.

    “If you don’t understand this stuff stop fucking talking about”

    If you go some more of the right googling you’re going to start feeling very silly. Go find out what “lender of last resort” means while you’re at it.

  106. Clearly, Techno, I was too subtle earlier. If you actually want people to read your posts—and wherefore type them otherwise?—it would help if you format your quotes as blockquotes by using the “b-quote” tag.

  107. .

    The future fund was meant to be spent on discretionary fiscal policy eh?

    The more we know.

  108. .

    Woah. Seriously? I’m not sure what’s worse – that you don’t understand what money supply is, or that you don’t understand the correct use of a apostrophe.

    Techno

    Please give us a concise definition of money supply you have come up with yourself, with reference to broad and narrow money.

  109. JC

    Princess

    These are the core objectives of the RBA.

    The Reserve Bank’s responsibility for monetary policy is set out in the Reserve Bank Act. Section 10(2) states:

    It is the duty of the Reserve Bank Board, within the limits of its powers, to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia and that the powers of the Bank … are exercised in such a manner as, in the opinion of the Reserve Bank Board, will best contribute to:

    the stability of the currency of Australia;
    the maintenance of full employment in Australia; and
    the economic prosperity and welfare of the people of Australia.

    Nowhere is managing the money supply stated as a specific objective.

    Money supply has a specific meaning in monetary economics and doesn’t mean what you think it means you abominable asshat.

    As I keep saying, stop talking about shit you do not understand as it’s embarrassing for you and lowers the tone of the site.

  110. blogstrop

    Great. Techno is another in the series. Doesn’t know when to stop.

  111. JC

    Please give us a concise definition of money supply you have come up with yourself, with reference to broad and narrow money.

    Including proper use of the apostrophe.

    I’m counting

    one cat and dog, two cat and dog, three cat and dog, four…..

  112. 1735099

    Well done Techno – You’ve revealed JC as a foul-mouthed ignoramus.
    Wait……we already knew that…..

  113. blogstrop

    Mungo Man is a sad example of the genus “unreconstructed leftoid”, who still thinks he’s great value at dinner parties or around the table at watering holes like that one. The git who arrived late agrees, while the tattooed trendoid lady in the background we’ll give the benefit of the doubt.
    He’s too old to re-learn the truth about how the world should work. He’ll cling to the sort of crappola he posted until he veers into complete dementia.

  114. blogstrop

    Piss off Numbers, you human pollutant.

  115. JC

    The future fund was meant to be spent on discretionary fiscal policy eh?

    The more we know.

    Well yes of course it does according to Shane Wand, Benito Conroy and the Lying Slapper.

    they said that

    if we take the money away from the future fund and allocate it to the NBN, school halls, school computers and the Lurch Rudd insulation fiasco, we will raise GDP, increase both long term and short term productivity, raise incomes (particularly of union members), raise our export potential thereby increasing living standards and therefore taxes. The gains in tax receipts can then of course be directed to the Future fund thereby meeting future commitments.

    Easy as punch and something that techno would support. It’s all in managing the money supply.

    It’s all about raising producitivity, Dot. All about that.

  116. JC

    Captain Spuds

    You haven’t discussed Vietnam for at least 3 months. Anything wrong. It’s nothing to do with the money supply, is it?

  117. roger

    “Make love, not war”, and then bury your political opponents under concrete.

    The charms of the hippy philosophy. – About as consistent with logic as the hippies are in touch with reality.

    Peace, bro.

  118. Techno

    JC, the words you’re looking for are “monetary policy”. It’s an expression that every high school economics student is familiar with.

    What is it, and how is it implemented by our central bank? (I’ll try using thing block-quote thing, too)

    http://www.rba.gov.au/monetary-policy/about.html

    The Reserve Bank uses its domestic market operations (sometimes called ‘open market operations’) to keep the cash rate as close as possible to the target set by the Board, by managing the supply of funds available to banks in the money market.

    The cash rate is determined in the money market as a result of the interaction of demand for and supply of overnight funds. The Reserve Bank’s ability to pursue successfully a target for the cash rate stems from its control over the supply of funds which banks use to settle transactions among themselves. These are called exchange settlement funds, after the accounts at the Reserve Bank in which banks hold these funds.

  119. Techno

    “they said that”

    The did, did they? A link, please.

  120. Techno

    Thanks Deadman – one just doesn’t see “wherefore” used enough these days :-)

  121. Tom

    Fuckno is a real find … from the Shane Wand school of magic economics. Where do the leftard dunce establishment find such geniuses? I’m answering my own question: they germinate them like mushrooms in the public service school of tax theft and socialist redistribution.

  122. Gab

    The future fund was meant to be spent on discretionary fiscal policy eh?

    Yes, according to the Liars Party, as justification for when the FF was raided by them for da stimulus.

  123. Techno

    “Yes, according to the Liars Party, as justification for when the FF was raided by them for da stimulus”

    I feel like we’re going around in circles here a bit….

    When did the “liars party” raid the future fund? Some evidence, please. The annual reports are all online, so let’s see it.

  124. Techno

    “Fuckno is a real find … from the Shane Wand school of magic economics”

    I’d love to see your face if somebody tried to explain fractional reserve banking.

  125. Gab

    http://www.theaustralian.com.au/archive/national-affairs/labor-raids-deplete-future-fund/story-e6frgd66-1225866341845

    knock yourself out.

    Btw, have you had lunch? Had a shower? These 24 hour shifts must be murder on your human relationships.

  126. Sinclair Davidson

    Techno – at the top of the dialogue box are some html tags that you should use.

  127. Techno

    “knock yourself out”

    You goose. We’ve already seen that one. What that says is that the government put 11 billion into the Building Australia fundds and then the Future Fund board invested it – exactly as it was required to. On what plane of reality is that a “raid” – i.e., of the funds available to the future fund before the ALP took office in 2007, exactly how many dollars were “raided”, please? Even The Australian’s spin can’t hide the fact that the funds have (a) more cash and (b) more assets than they did before 2007 – and that includes Costello’s original Future Fund, which got 3.9 billion in 2008.

    Tell you what, though – if that’s what you think a raid looks like, you can raid my bank account any time you want to.

    Try again. Think about what you’re posting next time.

  128. Techno

    Hi Sinclair! Can you please explain to JC how our central bank regulates interest rates, please?

  129. Techno

    … Or are you a Gold Standard man? ;-)

  130. Tom

    Fuckno, you sound awfully like Parko, especially since you are on the way out and, because of your zombie religion, you want to prime some IEDs for the incoming government.

  131. Sinclair Davidson

    No, I’m not a gold standard man. I’d put the banking functions of the RBA out to tender and close down the rest of it.

  132. blogstrop

    Defending the indefensible, Techno stands alone. Oh, wait, monty also defended the Shaggers & Liars party to the bitter end. Birds of a feather.

  133. Bons

    There are two people that linger in my memory from my misspent youth. The first was a fit young fella who used to peddle cold fruit salad and coffee on our local beach, and the other was Mungo. He used to hold court in the Refec praising Helpmann for his open Gay stance and damming engineers and rugby players – of which I was both.
    Now that I have retired to my old beach, the fruit salad seller is still there, major landholder, member of everything and loved. Mungo – he’s still in the Refec, unloved, uneducated, irrelevant and having lived his non-productive life at our expense. Mungo, for all of your insults – I hope that your old age ailments hurt – mine don’t.

  134. JC

    JC, the words you’re looking for are “monetary policy”. It’s an expression that every high school economics student is familiar with.

    I’m not looking for any words, fuckface. You are when incorrectly describing the RBA’s function as ” managing the money supply”.

    You’ve been hairsplitting since you bounced in here and have no right to use imprecise language.

    You’re so fucking dishonest, Princess but rest assured you’re not the only leftwinger so there’s safety in numbers.

  135. Abu Chowdah

    Marvellous! Unparody-iable!

    The old Manning-Clark impersonator who sat down half way through was awesome. What a bunch of smug latte sipping cliches!

  136. Techno

    “No, I’m not a gold standard man. I’d put the banking functions of the RBA out to tender and close down the rest of it.”

    Hmm. I wonder what’s hiding behind that.

  137. Techno

    “I’m not looking for any words, fuckface. You are when incorrectly describing the RBA’s function as ” managing the money supply”.”

    That’s what monetary policy is. More or less.

    “You’ve been hairsplitting since you bounced in here and have no right to use imprecise language”

    No, I’ve been very careful and precise. That’s how I avoid being wrong.

    “You’re so fucking dishonest, Princess but rest assured you’re not the only leftwinger so there’s safety in numbers”

    I’m glad to hear that I’m safe.

  138. JC

    Btw, have you had lunch? Had a shower? These 24 hour shifts must be murder on your human relationships.

    We always end up owning them. Non fail.

  139. Neil

    “You goose. We’ve already seen that one. What that says is that the government put 11 billion into the Building Australia fundds and then the Future Fund board invested it – exactly as it was required to. On what plane of reality is that a “raid””

    I think you will find that Costello only wanted the interest spent in those funds. His idea was to keep building up the capital and only spending the interest so future generations would get the benefit not just the current generation if the capital is spent. That is certainly true for one of the funds.

    http://www.theaustralian.com.au/archive/politics/kevin-rudd-raids-future-funds/story-e6frgczf-1225851598579

    “”The capital will not be spent,” Mr Costello said in his final budget speech. “It will be invested. And, what is more, we will add further capital from future budget outcomes to this perpetual fund.

  140. Techno

    “you want to prime some IEDs for the incoming government.”

    I really don’t like the way you guys toss around violent metaphors. You try to minimise it, but I really do think it says something unfortunate about you all. Unlike you guys, I actually don’t want to see a government that I didn’t vote for fail – because that’s bad for all of us. So no IEDs from me and, if I see any, I promise to alert the authorities.

  141. JC

    That’s what monetary policy is. More or less.

    No

  142. Techno

    I think you will find that Costello only wanted the interest spent in those funds.

    But he DID intend for the money to be invested, and not everyone was equally happy about how his fund invested its money either.

    In any case, nobody “spent” the money in Costello’s Future Fund – go have another look.

  143. Techno

    No

    JC, you’re just sticking your fingers in your ears and saying “no no no no no” now. You have no idea what you’re talking about.

  144. Gab

    You goose. We’ve already seen that one.

    Then you didn’t read it properly a second time.

  145. Abu Chowdah

    I love how he says that no money has gone into the future fund since 2007 and then says that the way Abbott’s going none will go in anytime soon. He’s too partisan to realise he’s flagging a key date for political change which fucked the fund and then criticising Abbott for NOT backing the fund when Mungo couldn’t give two shits about Rudd abandoning it. What a monumentally clueless partisan hypocrite. Mungo is so fucking useless he wouldn’t know the postman was up his arse until he blew the whistle.

    Love the Manning-Clark cosplay dude, but.

  146. JC

    You a using terms that don’t mean what you think they mean.

    Monetary policy is an important subset of macro-economics, possibly the most important part of macro.
    Stop talking about stuff you don’t understand as it’s painful.

  147. candy

    … is scribbling a few less than coherent pieces for none other than some Northern NSW Weekly.

    Gabrianga,
    So his life now is quite a come down from what it was before.? Maybe if he shaved his beard and brushed his hair and said something nice about the new government he might get a new gig. There’s always hope!

  148. Techno

    Ok, JC. You’ve stopped even pretending to be honest now.

    Bottom line – as I’ve demonstrated repeatedly now, McAllum was wrong, money DID go into the Future Fund in 2008 and 2009.

    I’m done now. This is still.

  149. Megan

    I really don’t like the way you guys toss around violent metaphors.

    Cannot make an actual point so plays the holier-than-thou card. Take your shiny halo and go inflict yourself on someone who gives a toss. We’ve seen what you’ve got and it isn’t much.

  150. Gab

    And then in 2011, Labor again raided the future fund:

    LABOR is planning to withdraw hundreds of millions of dollars from the Future Fund in an unprecedented move that will help the government meet its promise of returning the budget to surplus in 2012-13.

    A spokeswoman for Finance Minister Penny Wong confirmed to The Australian that more than $250 million worth of assets were due to be withdrawn from the Future Fund in the 2012-13 financial year, despite the fund having been created, by Peter Costello, under the condition it was not to be touched before 2020.

    http://www.theaustralian.com.au/national-affairs/labor-plans-future-fund-withdrawal-as-it-takes-aim-at-budget-surplus/story-fn59niix-1226134325846

  151. Tom

    Maybe if he shaved his beard and brushed his hair and said something nice about the new government he might get a new gig.

    Candy, these are not proper people from the real world that you’re used to dealing with. We’re talking ferals with a huge chip on their shoulder. Angry people who are in and out of gaol would be the nearest you’ve experienced to such lowlife.

  152. Techno

    “And then in 2011, Labor again raided the future fund”

    No, it didn’t. First, here’s the response from minister Wong

    http://privatebriefing.com.au/2011/09/12/were-not-raiding-fund-wong/

    And, because you don’t trust her, here’s the subsequent discussion in senate estimates after the allegations were made:

    http://parlinfo.aph.gov.au/parlInfo/download/committees/estimate/00251454-4917-4bb9-a4c4-6503eec8c1c3/toc_pdf/Finance%20and%20Public%20Administration%20Legislation%20Committee_2012_05_23_1060_Official.pdf;fileType=application%2Fpdf#search=%22committees/estimate/00251454-4917-4bb9-a4c4-6503eec8c1c3/0003%22

    Start at page 65, you’ll eventually get to:

    Senator CORMANN: The cash actually remains with the Future Fund, though? It does not leave the Future Fund?
    Mr Helgeby: Yes,that is right

    Nobody raided the Future Fund, it was the Future Fund doing what it’s supposed to, and keeping the proceeds. “Somebody” beat it up for political points. I’m disappointed in PVO, though – sure he must have known there there was nothing in it before that story went to press. He wrote:

    “Questioned by The Australian about the use of the Future Fund asset sales for the surplus target, Wayne Swan’s office directed questions to the Finance Minister.”

    That’s just a sad cop-out.

  153. Gab

    Senator CORMANN: The cash actually remains with the Future Fund, though? It does not leave the Future Fund?
    Mr Helgeby: Yes,that is right

    That has nothing to do with it. Cormann is asking about non-cash assets being sold off and if the proceeds of the sale would remain in the FF.

    You’re being disingenuous here.

    Wong confirmed that they were going to raid the FF for a second time.

  154. Sinclair Davidson

    I really don’t like the way you guys toss around violent metaphors.

    Of course he doesn’t. he got flogged like an unwanted, red-headed, step-child on the other thread.

  155. JC

    Or a Syrian in Assad’s jail.

    He’s had a severe beating on this thread too.

  156. Techno

    “That has nothing to do with it. Cormann is asking about non-cash assets being sold off and if the proceeds of the sale would remain in the FF. You’re being disingenuous here. Wong confirmed that they were going to raid the FF for a second time”

    I’m not sure you’re even bothering to check what you’re claiming any more. You’re just making stuff up.

    The future fund sold “non-financial assets”. That’s what Cormann tried to beat up, that’s what Wong tried to explain was just a part of the Future Fund’s normal operations, and that’s what that senate estimates questioning was about. If there’s another “raid” that fits what you’re alleging, then by all means post a link to some evidence, because what Cormann was on about there was anything but a “raid” – it was the Future Fund selling non-financial assets and keeping the proceeds. It was also the same action that Van Onselen was desperately trying to twist into scandal.

    Do any of you have even the slightest interest in actual facts?

  157. Gab

    David Tune, secretary of the Department of Finance and Deregulation, took a question from Senator Cormann during Senate estimates hearings earlier this year about what asset sales were included in the budget forecasts under the heading “sales of non-financial assets”.

    His answer said that the figure included “the expected sale of assets from the Future Fund”.

    A spokesman for the Future Fund confirmed the anticipated withdrawal was known to the fund and that this was the first time a withdrawal had been included in the budget bottom line.

    Senator Cormann said the “real concern is that, if they get away with their plans to raid the Future Fund now they will do it again and again, every time they need more cash to fund their wasteful spending”.

    Do you have even the slightest interest in actual facts?

  158. jumpnmcar

    Do any of you have even the slightest interest in actual facts?

    Yes.

  159. Techno

    “He’s had a severe beating on this thread too”

    If saying it made it so. I haven’t seen any of you actually make a point that stands up to factual scrutiny yet, let alone one that undermines my original point.

    And you say this is some sort of “killing field” for “lefties”. I think you need to go read a bit more about Pol Pot, if you really believe that.

    Making a goose of yourself and then saying “I win I win” isn’t actually a strategy. Or maybe this really is the deep end of the conservative pool – maybe you guys really are the deep thinkers of the Australian Right. That would explain a lot.

    And Sinclair, jokes about child abuse still aren’t funny.

  160. Token

    This manic approach, continual shifting of goal posts & fundamental wrongology has not been seen since Sancho last wasted everyone’s time here.

  161. Sinclair Davidson

    Discipling poorly behaving children isn’t child abuse. Do try harder.

  162. Token

    Oh yes, while it refuses to respond to any of the many responses it shrilly takes upon itself the role of victim. Very Sancho.

  163. jumpnmcar

    And Sinclair, jokes about child abuse still aren’t funny.

    Bullshit, I was listening to an old Bill Cosby tape the other day, very funny.

  164. Techno

    Gab, that’s already been debunked. Whoever the “spokesman for the future fund” was, and assuming he or she even exists, they were evidently mistaken.

    But sure, if you insist – leave aside the rumor-mongering from The Australian and show me where this transaction appeared in the 2012-2013 budget. You’ve got lots of rumors from propagandists in 2011 claiming that it would happen. It’s all easily shown to be wrong but you still want to believe, fine – show me that it DID happen. It’ll have to be in the Future Fund annual report, even if you think they’d hide it from the revenue in the federal budget. Either or both will do.

    I want to give you plenty of time – so let’s say that tomorrow morning you’ll either provide a page number and URL for a document which shows that transfer from the future fund asset sales in question back to general revenue, or you’ll admit that you were wrong and that I was right. How does that sound? Does that sound “fact oriented” enough for you?

  165. Techno

    “This manic approach, continual shifting of goal posts & fundamental wrongology has not been seen since Sancho last wasted everyone’s time here”

    I’m not the one who shifted the goal-posts.

  166. JC

    If saying it made it so. I haven’t seen any of you actually make a point that stands up to factual scrutiny yet, let alone one that undermines my original point.

    Well that’s because you’re mentally impaired dishonest piece of shit. You’re unoriginal point when I came on board was that Liars had increased funding to the future fund. They actually reduced the funding schedule put forward by Costello.

    Losing the argument you then swung to arguing that the funding was diverted to other investments…. like the NBN, School halls, the Lurch Rudd insulation fiasco and of course the school computer programs.

    And you say this is some sort of “killing field” for “lefties”. I think you need to go read a bit more about Pol Pot, if you really believe that.

    Why would I do that. You’re down to the last liter of blood.

    Making a goose of yourself and then saying “I win I win” isn’t actually a strategy.

    Yep I agree. I have never made any such statement, you dishonest douchebag.

    Or maybe this really is the deep end of the conservative pool – maybe you guys really are the deep thinkers of the Australian Right. That would explain a lot.

    The collective… Lol.. Loser lefties always resort to the collective.

    You’re even more pathetic than I thought.

    You’ve received a bigger beating on this thread than a rattle snake caught in a suburban backyard.

    And Sinclair, jokes about child abuse still aren’t funny.

    Lol. shoo off fuckface.

  167. cohenite

    Techno, what was the purpose of the FF and were funds originally or subsequently part of that original purpose diverted to other infrastructure purposes?

  168. JC

    Techno, what was the purpose of the FF and were funds originally or subsequently part of that original purpose diverted to other infrastructure purposes?

    Its da nation building. At one stage we getting getting goose bumps when the slapper was talking about laying tracks for a very, very, very fast train down the east coast that would stop at all stations and be very very fast.

  169. Techno

    “Well that’s because you’re mentally impaired dishonest piece of shit. You’re unoriginal point when I came on board was that Liars had increased funding to the future fund. They actually reduced the funding schedule put forward by Costello”

    No, I said that Mungo McCallum was wrong to say that no more money was paid into the future fund after 2007. I said that money was paid in, in 2008 and 2009, and I proved it. I didn’t claim anything more than that, because I didn’t have to.

    “Losing the argument you then swung to arguing that the funding was diverted to other investments…. like the NBN, School halls, the Lurch Rudd insulation fiasco and of course the school computer programs.”

    Link to the post where I wrote that please. I never said anything of the sort – you did. I’ve never mentioned an “insulation fiasco” or “school computer programs”. I did mention that some NEW money was invested in broadband, but only after you tried to introduce this “diversion” thing. In short, you’re lying. If you think you’re NOT lying, then prove it – just link to the post where I introduced any of that. It’s not relevant to my original point, so why would I bother?

    “You’ve received a bigger beating on this thread than a rattle snake caught in a suburban backyard.”

    Just respond in an honest fashion to any of the things I just wrote in this post and you’ll do better than you have in days.

  170. Techno

    “Techno, what was the purpose of the FF and were funds originally”

    I think that depends on who you ask. Some people seem to think that it’s to fund public service retirement benefits, but I’m not sure that makes a lot of sense – by the time it starts paying out, it’s too late to cover most of the defined-benefit liabilities. The more cynical among us think it was just a way to avoid giving back excess revenue at a time when the government knew its political fortunes rose and (ultimately) fell on the back of interest rates. But let’s set that aside lest I be accused of moving the goal posts – it’s not relevant to my original point, it’s just an interesting aside.

    “or subsequently part of that original purpose diverted to other infrastructure purposes?”

    No, it wasn’t. Additional funds were paid in to a new fund with a different set of legislation for that purpose. The original future fund had nothing to do with it.

  171. I am the Walrus, koo koo k'choo

    So, Mungo, ‘Bongoes’ Bob Ellis and Richard Neville were the Big Men On Campus in the sixties.

    Thankyou David Black. That explains so much about this country’s recent evolution.

  172. Techno

    “At one stage we getting getting goose bumps when the slapper was talking about laying tracks for a very, very, very fast train down the east coast that would stop at all stations and be very very fast.”

    I doubt it. That white elephant has been doing the rounds since the 80′s, and every new government has had to pay lip service to the lobby groups who want it build. Inquiry after survey after report have shown that it wouldn’t pay, and nobody is going to build it until that changes. I don’t think that will be in my lifetime, or Gillard’s.

  173. Gab

    Actually, quite a lot of money went in to the future fund in 2008 and 2009 from the federal budget. I’m not so sure about since, though.

    LOL.

    Apart from raiding the FF, Labor made no contributions to the fund after the 2008 Telstra shares were added to the fund.

  174. JC

    Who to believe:

    “Techno, what was the purpose of the FF and were funds originally”

    I think that depends on who you ask. Some people seem to think that it’s to fund public service retirement benefits, but I’m not sure that makes a lot of sense – by the time it starts paying out, it’s too late to cover most of the defined-benefit liabilities. The more cynical among us think it was just a way to avoid giving back excess revenue at a time when the government knew its political fortunes rose and (ultimately) fell on the back of interest rates. But let’s set that aside lest I be accused of moving the goal posts – it’s not relevant to my original point, it’s just an interesting aside.

    Or the stipulated objectives of the fund.

    The Future Fund was established by the Future Fund Act 2006. The object of the fund is to strengthen the Australian Government’s long term financial position by making provision for unfunded Commonwealth superannuation liabilities. These liabilities will become payable at a time when an ageing population is likely to place significant pressure on the Australian Government’s finances. The Future Fund has received contributions from a combination of budget surpluses, proceeds from the sale of the government’s holding of Telstra and the transfer of remaining Telstra shares. The Future Fund Board of Guardians is responsible for deciding how to invest the assets of the Fund.

    Legislation stipulates that money may not be withdrawn from the Future Fund until 2020 except for the purpose of meeting operating costs or unless the Future Fund’s balance exceeds the target asset level as defined by the Future Fund Act.

    Frankly it’s a hard call to believe Techno the super ranger or Peter Costello. lol

  175. Token

    I think that depends on who you ask.

    Fail. Game, set & match.

    As JC shows, the legislation is specific & clear.

  176. Fess

    I remember going to a play at the ANU in the early 70s. Mungo was there, completely pissed as usual, and airing his half-arsed opinions at the top of his voice in the foyer so that the audience couldn’t hear the actors. Not a nice man, and he still shows the same “class” and personal grooming as in the 1970s.

  177. Alf

    Very entertaining Techno, JC thinks you’ve taken a beating. I think he’s wrong.

  178. Very entertaining Techno, JC thinks you’ve taken a beating. I think he’s wrong.

    Techno is entertaining, no doubt about it.
    But JC is right, Techno is on the receiving end of one helluva thumping.

  179. Alf

    Nah, even you’ve had a shot at JC tonight from the Pub.

  180. Nah, even you’ve had a shot at JC tonight from the Pub.

    So what? If you read every word I’ve typed, not one of those words is anyting remotely resembling “Techno is right”.
    Christ, I’ve seen saner logic at union meetings than you just came out with.

  181. Alf

    I realise that. Just a simple observation, that’s all. Still, at least we agree that the Techno/JC exchanges were entertaining.

  182. .

    Fess
    #1127613, posted on December 30, 2013 at 12:06 am

    I remember going to a play at the ANU in the early 70s. Mungo was there, completely pissed as usual, and airing his half-arsed opinions at the top of his voice in the foyer so that the audience couldn’t hear the actors. Not a nice man, and he still shows the same “class” and personal grooming as in the 1970s.

    What an offensive arsehole.

  183. .

    I think that depends on who you ask.

    Utterly dishonest crap.

    Bugger off, you oleaginous imbecile.

  184. Tintarella di Luna

    oleaginous

    mmm oleaginous, now that’s a lovely word dot isn’t it? so onamatapoeicish.

  185. David Black

    The more I think about Bob, Mungo and Richard in their glory days at University of Sydney, the more I realize that they were “The Chasers” of their era – full of their own self-admiration and basking in the adulation of their fans.
    That interview and an occasional descent into Bob’s dreadful “Table Talk” give you some idea of what the “Boys” will be like in 50 years.

  186. struth

    The same level of political analysis one may expect from a rabid middle eastern taxi driver, but spewed from the mouth of a person alot lazier. Too lazy for personal hygiene it seems.
    He’s a good advertisement for conservative politics.

  187. Techno

    “Frankly it’s a hard call to believe Techno the super ranger or Peter Costello”

    Like I said – it depends who you ask. Now stop changing the subject, and get back to my original point – which you keep saying you’ve beaten me up over, but which you all seem desperate to avoid.

  188. .

    Like I said – it depends who you ask. Now stop changing the subject,

    It depends who you ask.

    You lied quite blatantly. We don’t like being taken for fools. You have been hammered on every argument, including the original, well forgotten, actually on-topic arguments.

    Fuck off.

  189. Techno

    So, Gab – you got us a reference yet to show that Wong “raided” the future fund, as alleged by PVO and Senator Cormann. Specifically (and as clearly described in your original source) transferring the proceeds from the sale of Future Fund non-financial assets back to the budget bottom-line.

    I can see two options here:

    (1) you provide the evidence
    (2) you say “I’m sorry, I was wrong”

    Over to you.

  190. Tel

    Legislation stipulates that money may not be withdrawn from the Future Fund until 2020 except for the purpose of meeting operating costs or unless the Future Fund’s balance exceeds the target asset level as defined by the Future Fund Act.

    Ahhh, but they did not withdraw the funds, they invested the funds in their own pet projects.

    That’s the trick, anything can be declared an “investment” if you think about it. Take the national road black spot programme which is counted as infrastructure investment. In my area they put up a speed hump crossing under an already existing pedestrian overpass bridge, to help slow down the traffic that was attempting to bypass Granville shopping center, just in case someone might decide to cross underneath instead of using the bridge. Then they put up iron safety fences to make sure no one did cross under the bridge, thus making you wonder what was the point of slowing down all the through traffic.

    That’s an example of “infrastructure investment” under the black spot programme, there’s a sign proudly stating as much. The Future Fund theoretically “owns” this investment, but actually these things don’t make a return so government just chip in a nominal interest payment instead. Government lending money to government out of investment funds, so government can do a mix of routine maintenance and “shovel ready” projects to keep workers occupied.

  191. Techno

    JC, you too …

    Do you have a link for me, to prove:

    “Losing the argument you then swung to arguing that the funding was diverted to other investments…. like the NBN, School halls, the Lurch Rudd insulation fiasco and of course the school computer programs.”

    ?

    Again – “I’m sorry, I was wrong” is perfectly acceptable.

  192. Tel

    The NBN is another example of infrastructure “investment”.

  193. Techno

    “Take the national road black spot programme which is counted as infrastructure investment. In my area they put up a speed hump crossing under an already existing pedestrian overpass bridge”

    We’d need some dates for that. The national black spot program (aka “Roads to Recovery”) has been around since the 90′s. That’s not the sort of thing that the original Future Fund was supposed to be investing in, but it IS the sort of thing that the post-2007 Building Australia funds (managed by the Future Fund under different legislation and funding) has invested in.

  194. .

    We’d need some dates for that. The national black spot program (aka “Roads to Recovery”) has been around since the 90′s.

    We’re gonna need some dates for that.

  195. Techno

    “The NBN is another example of infrastructure “investment””

    That’s exactly what it is. But again – it’s not from the original Future Fund coffers, it’s from the additional 10 billion, and managed under separate legislation and guidelines. A few hundred million has been spent on improving regional broadband “black spots”, and a couple of billion have been given to NBN Co as seed funding

    “What?” I hear you say, “I thought it was trillions and billions! This Techno fellow must be lying!” Nope – it’s all online, the government really truly has only invested a couple of billion in NBN Co to date, and that is all – The Australian has been doing its best to tell you otherwise, I know. That’s because they have what us skeptics call “an agenda”.

  196. Techno

    “We’re gonna need some dates for that”

    I’m struggling a bit with an easy official link – the current black-spot pages don’t mention the 90′s. It’ll be in the budget papers if people are really keen, but here’s a wiki link for the time being:

    http://en.wikipedia.org/wiki/Black_Spot_Program

    The Black Spot Program is a project of the Australian Government to eliminate safety problems on the roads. It was created in the early 1980s, abolished, then reestablished after a change of government in 1996.

    I was wrong about the Roads To Recovery program though – it was only introduced in 2000.

    http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd0001/01bd073

  197. .

    I was wrong about the Roads To Recovery program though – it was only introduced in 2000.

    An apology would be nice.

  198. Techno

    “An apology would be nice”

    Sure. “I am sorry for saying that the current Roads To Recovery and Black Spot Programs were both created in the 1990′s, when the Black Spot Program was created in the 1990′s but the Roads To Recovery program was actually created in 2000″

    Returning to the point I was addressing – that speed bump was probably paid for out of a program that has been around far longer than the Future Fund, which is why the date matters.

  199. Techno

    It’s gone very very quiet

  200. 1735099

    It’s gone very very quiet
    Probably because you asked for an apology.
    Never happen – not here.
    I’ve been asking James of the Glen for an apology for a long time for accusing me of being a military imposter, complete with threats to report me to ANZMI.
    Never happened – no integrity – no guts…..
    You’ll find the same.

  201. Techno

    “complete with threats to report me to ANZMI”

    And did he? Coz I’m sure they just investigating false accusations.

  202. Chris M

    That crusty old fossil looks like Ned Kelly corpse briefly re-animated with a bucket of warm formalin.

  203. Hang on, is Techno seriously suggesting that the (now defeated) ALP government did not raid the future fund? And for a supplementary, is Techno seriously suggesting that the ALP did not piss shitloads of other people’s hard earned up against the wall?

    FFS, a kid with two tin cans & a piece of string could connect more people to the net than the NBN has.
    The ALP are incompetent, are fools, are hypocrites, and should be locked up in a looney bin forever, for the good of Australia.

  204. Tel

    Nope – it’s all online, the government really truly has only invested a couple of billion in NBN Co to date, and that is all…

    It’s all online, indeed.

    In the 2013 NBN Annual report they list the following expenses:

    2013: $2.167 billion capital + $1.093 billion operational
    2012: $1.220 billion capital + $0.749 billion operational
    2011: $0.463 billion capital + $0.509 billion operational

    My calculator gives me a total of $6.201 billion total expenses.

    They CLAIM to have a total of $5.519 billion total assets, and it didn’t all come from revenue because their revenue to date is so small it isn’t worth making note of (look it up). How does their total assets add up to greater than their total capital expenses? They must be beyond my level of genius, I guess their network is just brilliant, despite the fact that they have covered only something in the single digits percentage of their overall rollout.

    Anyone can do this accounting… just pretend an asset exists and ignore mark-to-market. The banks do it too, that’s why our financial system is so buggered.

    I might also point out a further $4.493 billion in contractual commitments (which Turnbull will honour) to bring the total burden on the taxpayer (ooops, sorry investment from the Future Fund) up to $10.694 billion.

  205. Tel

    The Government’s investment over the forward estimates is expected to be:
    $3,088.0 million in 2011‑12,
    $4,400.0 million in 2012‑13,
    $6,600.0 million in 2013‑14 and $4,100.0 million in 2014‑15.
    This is in addition to $1,712.0 million in equity provided to NBN Co in 2008‑09, 2009‑10 and 2010‑11.

    That’s from the budget papers:

    http://www.budget.gov.au/2011-12/content/bp2/html/bp2_capital-04.htm

    It’s difficult to find anything more recent than that, Aus Government budget papers are designed to be unreconcilable, so much for Government 2.0 and transparency but that’s an argument for another day. Anyhow, a lot more than a couple of billion, I think you have blown your credibility on that one Techno, looks like Murdoch is more honest than you are.

  206. Tel

    Hang on, is Techno seriously suggesting that the (now defeated) ALP government did not raid the future fund?

    Not raiding, it was “investment” remember that. Governments don’t just piss money away, they piss money away on infrastructure, which is an entirely different matter.

  207. Agreed Tel. But where is the infrastructure for all this “investment”? (And an expected return could be dropped in too – something for the ALP to consider).

  208. Tel

    Steve, there’s a speed hump sitting under the pedestrian bridge at Granville, that’s apparently infrastructure investment. Can’t imagine how it’s going to make a return, but here’s a suggestion… when you can’t make a return, make something up!

    Think about it, all the interest payments are guaranteed by future taxpayers yet to be born, so there is no actual risk to the investor. We can arbitrarily decide that “externalities” exist and thus create an imaginary return being paid to those future citizens in return for their tax input. All perfectly above board and impossible to audit. Just say, “Social Infrastructure”, or “Unearned Increment” or “You Didn’t Build That” or say whatever you like so long as you can bash the money out of the next generation.

    The best thing of all is that the next generation won’t say no, because they are the prime recruitment ground for the Free Shit Army. They have been told they are getting something out of the deal and the suckers believe it. Astounding I know but find a typical born-after-2000 kiddie and ask them whether they want free NBN fiber… they jump up and down with joy.

  209. wreckage

    Simple: if it’s an investment it will make a return. Frankly, if it returns less than interest factoring inflation, whoever made the investment should be publicly flogged.

    Unfortunately the NBN demonstrates that you can’t trust governments to vet their own investments. Therefore the FF should not be used to fund infrastructure. If it wants infrastructure in its portfolio it can buy into existing funds in the sector. Simple.

    Techno, you still haven’t gotten back to me on the cost of processing refugee status claims, which you assured me was so high that $20 million would make no material difference.

  210. wreckage

    We can arbitrarily decide that “externalities” exist and thus create an imaginary return being paid to those future citizens in return for their tax input.

    Invalid accounting. There’s no column for fairies or unicorns. The use of “externalities” when considering an investment should be regarded as fraud. Either the project generates a return or it doesn’t. If it benefits many, it will have many customers, if it has many customers it will make a return, if it makes a return it can be done via the private sector. The only exceptions are when the freeloading is severe and billing impossible.

  211. johanna

    wreckage, I’m sure you didn’t mean it literally when you said “Simple: if it’s an investment it will make a return. ” Not all investments make returns.

    The point is, a real investment is based on some quantifiable and hopefully justifiable projection of a return. I challenge Techno and his acolytes to tell us what the return on on speed bump in Granville, or a covered walkway in a school, is going to be.

    That’s the point re the raiding of the FF. Spending on infrastructure may or may not be an investment in the traditional sense. But one of the perversions of language foisted on us by the Left is that government expenditure is a synonym for “investment.”

  212. Paridell

    One last thing, it’s the Future Fund, not the “Futures” Fund.

    Mungo seems to think it’s a fund to do with futures trading.

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