The wages of waste

Personally, I care not at all about the headline issue: At $528,000 a year, Turnbull’s pay is highest of any leader in OECD. PDT is not taking any salary at all so the price mechanism doesn’t always reflect relative value in any absolute sense. But this is what interests me:

The figures come as the Reserve Bank warns Australians to expect historically low levels of wage growth for some time yet, setting up a policy showdown with Labor before the next election over efforts to tackle the rising cost of living.

Both are trying to ameliorate the impact of torpid wage growth through offering billions of dollars in income tax cuts.

Workers have been starved of pay rises in real terms, with wage growth stuck at the rising cost of living for the past year. Inflation hit 1.9 per cent in March and private sector wages have barely kept up at the same rate but public sector workers have done better, lifting the rate to 2.1 per cent Australia-wide.

The reality is that both parties are deeply into Keynesian idiocies with some kind of belief that public spending makes an economy grow. I am not all that fussed about the deficit as such, but am very much concerned with the level of public spending which is almost invariably wasted. For every dollar spent, you get less than a dollar’s worth of value, often much less. That is why real wages don’t rise, and until that changes, real wages won’t either.

PDT understands that. Does anyone else?

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35 Responses to The wages of waste

  1. Habib

    There hasn’t been an occupant of the Lodge that has warranted recompense of any kind- in fact they should all have owed us money for their incompetence, malfeasance, opportunism and idiocy. The current fop is the latest in a line of fatuous failures.

    We need a recall provision.

  2. mh

    The reality is that both parties are deeply into Keynesian idiocies with some kind of belief that public spending makes an economy grow.

    Each Federal government gets advice from Treasury. Isn’t it about time we started taking a closer look at Treasury? The website states:

    The Treasury is engaged in a range of issues from macroeconomic policy settings to microeconomic reform, climate change to social policy, as well as tax policy and international agreements and forums.

  3. Egor

    “PDT understands that. Does anyone else?”
    No.
    Get used to it.
    Apres Trump, le deluge.
    He’s the last jedi, then the postmodernist cultural marxists rule forever.
    Demography is destiny.
    Prepare accordingly.

  4. Shy Ted

    We need Snowy 3. Pump all the money uphill and there’ll be more when it flows down.

  5. Rae

    PDT is not taking any salary at all

    Yes, he is. Trump is taking the Presidents salary of USD$400,000 per annum. He/the White House says he is then donating that. Is he donating it? To whom?

  6. Dr Fred Lenin

    $520k a year for the useless muppets we have had in the last ten years , what an absolute waste of money ,and the useless mongrels get $200k a year pension for life . This is total bullshit , there is no way these incompetents could earn that , krudd giliard a crazy fool and a thief now turnbull who has failed in every field he was ever in ,an arrogant fool of a lawyer. The stupidist banker,/(trusting that con nan Adler) an now strongly in contention for worst PM ever ,with the previously mentions con tricksters , cut PM salary to $100k and make them pay their own super and pensions , MPs renumeration cut proportionately ,discourage career politics . No pensions No perks and the same super as a truck driver . Reality Strikes .

  7. Get rid of the things that are causing the cost of living to rise, both directly and indirectly.

    The first thing gotten rid of should be all subsidies for renewable energy, windmills, solar panels, climate research, the lot.

  8. Rae
    #2721389, posted on May 27, 2018 at 3:41 pm
    Is he donating it? To whom?

    You’re on the internet, a quick Google and you get your answers (some examples):

    https://www.nytimes.com/2017/04/03/us/politics/national-park-service-trump-salary.html

    https://www.cbsnews.com/news/trump-donates-first-quarter-salary-to-va/

  9. Rae

    Thanks, bemused. That’s USD$78,333.32 for Q1 in 2017 and [same amount?] for Q1 in 2018. Who got the [same amount?] donations in Q2,Q3 Q4 of 2017? And, if all donated, that’s only USD$313,333.28 per year. What happened to the balance of USD$86,666.72?

  10. cynical1

    At $528,000 a year, Turnbull’s pay is highest of any leader in OECD

    And just over half what the head of the fucking ABC gets.

    So who is the real thief?

  11. manalive

    Inflation hit 1.9 per cent in March and private sector wages have barely kept up at the same rate … SMH.

    That’s because after three decades of steady growth workforce productivity has stalled for the past four years and is now in steep decline due to all the things mentioned by bemused together with a suffocating morass of regulations.

  12. Thanks, bemused. That’s USD$78,333.32 for Q1 in 2017 and [same amount?] for Q1 in 2018. Who got the [same amount?] donations in Q2,Q3 Q4 of 2017? And, if all donated, that’s only USD$313,333.28 per year. What happened to the balance of USD$86,666.72?

    These were just two examples. I can’t be bothered searching for every quarterly payment and who Trump donated it to.

    Believe it, If Trump did not do what he said he would, it would be all over CNN, MSNBC, Washington Post, NYT, Pelosi’s rants, every Hollywood ‘celebrities’ Twitter rants etc.

  13. Biota

    What’s this rising cost of living bit? With inflation low and fairly flat and interest rates at the lowest ever where are the increasing costs?

  14. anonandon

    Is he donating it? To whom?

    To your mum, after he makes sweet love to her.

  15. Biota
    #2721512, posted on May 27, 2018 at 5:29 pm
    What’s this rising cost of living bit? With inflation low and fairly flat and interest rates at the lowest ever where are the increasing costs?

    Ask your mum or dad, they probably have a pretty good handle on the cost of maintaining the lifestyle that you’re accustomed to living at home.

  16. OldOzzie

    Instead this is what we get

    Government Minister slams Barnaby Joyce for accepting a fee for Channel 7 interview -Rachel Baxendale


    Colleagues continue to distance themselves from Barnaby Joyce in the wake of revelations he has sold his story of his romance with former staffer Vikki Campion to a TV network.

    Health Minister Greg Hunt is the latest, saying he is “100 per cent certain”

    that no current cabinet minister would take money for an interview, as Mr Joyce is doing.

    “I am absolutely certain, 100 per cent certain, that it’s not a position that anyone in the cabinet would take and, as for their particular family, I don’t think it’d be appropriate of me to comment on those circumstances,” Mr Hunt said.

    Earlier, he told ABC TV he would not comment on the circumstances of Mr Joyce and his family.

    “It’s a matter for him, and that’s an issue for himself and his partner, Vikki. I don’t propose to comment on that,” he said.

    The Weekend Australian yesterday revealed the couple would pocket $150,000 in exchange for an interview with Channel 7’s Sunday Night program, following a bidding war with rival network Nine.


    The news has sparked a backlash, with many calling the couple’s decision to sell their story of an extramarital affair tasteless and insensitive to Mr Joyce’s estranged wife and four teenage daughters. One unnamed cabinet minister told the Daily Telegraph: “It makes you wonder whether he is even interested in the Government doing well. He’s unbelievable.”

    Labor leader Bill Shorten said it was a “personal matter for Mr Joyce”.

    “I don’t have a view. I wish him and his boy and his new relationship all the very best,” Mr Shorten said.

    “I am not getting involved with this, and certainly the Labor Party is not interested in these personal matters of Mr Joyce full stop.”

    Human Services Minister Michael Keenan said he would not take money for an interview as a serving politician, but refused to pass public judgment on Mr Joyce for doing so.

    “At the end of the day that’s a matter for Barnaby, it’s not something that I’m focused on, it’s not a matter for government policy, so I’m not going to have a running commentary on a colleague in a public way,” Mr Keenan told Sky News.

    “If there’s something that I would say to him, I’d say it to him in private, but ultimately this isn’t a matter for the government and I am focused on very different things.”

    Asked whether Mr Joyce’s interview was helpful, Mr Keenan conceded that the former deputy PM’s affair with his staffer had distracted from the government’s agenda.

    “As I said, it’s not something that I’m going to run a commentary on. It was a distraction in the earlier part of the year and obviously we don’t want to revisit that, but this isn’t my focus, it isn’t the focus of the government,” Mr Keenan said.

    “We’re getting on with the things that we need to do, particularly in relation to the budget, that has been very well-received.”

    The former deputy PM, who urged the media to “move on” in an unpaid interview with Fairfax in February, was forced to resign to the backbench — halving his $400,000 salary — as a result of the scandal, which hurt the government in the polls and spurred Prime Minister Malcolm Turnbull to enact a parliamentary “bonk ban” preventing MPs from having sexual relationships with their staff.

    Asked for his views on a serving politician being paid by a media organisation for an interview, Mr Keenan said: “It’s not something that I’ve done and I won’t do it, but as I said it’s a matter for Barnaby. I’m not going to add to the commentary about it.”

    The Daily Telegraph today reports the couple have asked that the TV fee be paid directly into a trust for their month-old baby, Sebastian.

    Mr Joyce indicated late in 2017 that he had split from his wife and mother of his four daughters, Natalie.

    The relationship with Ms Campion, his former staffer, became public from February 7.

    Sebastian, was born in Armidale on April 16. Prime Minister Malcolm Turnbull said Mr Joyce had not breached any ministerial standards because Ms Campion had not been his “partner” when she worked for him. But Mr Turnbull went on to criticise Mr Joyce for exercising a “shocking error of judgment”.

    The scandal was fed by reporting on questions surrounding Mr Joyce’s travel entitlement use, his scoring of rent-free accommodation in Armidale, and harassment allegations lodged by a Western Australian woman.

    He appealed for privacy several times before briefly — and publicly — questioning Sebastian’s paternity just weeks before he was born.

  17. Biota
    #2721512, posted on May 27, 2018 at 5:29 pm
    What’s this rising cost of living bit? With inflation low and fairly flat and interest rates at the lowest ever where are the increasing costs?

    That would be the aforementioned ABC, solar panels, windmills, up hill hydro and all the rest of the Green/Left golbal warming bullshit, plus NDIS fraud, social security fraud, black African childcare fraud and all the rest.

  18. Death Giraffe

    Lets leave everyone’s mums out of it.

  19. OldOzzie
    #2721526, posted on May 27, 2018 at 5:49 pm
    Instead this is what we get

    Government Minister slams Barnaby Joyce for accepting a fee for Channel 7 interview -Rachel Baxendale

    Barnaby Joyce is bit a cabinet minister. He is a backbencher because of the (yet again) devious manoeuvring of Turnbull. His interview is about his personal relationships, nothing to do with his parliamentary duties.

    Good luck to him.

    As for Greg Hunt: he’s the bastard who persuaded John Howard to introduce a mandatory target for use of expensive, unreliable renewables. Look where that has got us, so what is his opinion worth on any subject whatsoever? Look behind the blind and Hunt’s simply offering yet another characteristic Turnbull government knifing of Barnaby Joyce while he’s down. Just as they’ve done to Tony Abbott.

  20. 1-) Reduce the pay difference between back-benchers and ministers to a small token amount.
    2-) Freeze all polly pays for 5 years. Any of them who don’t like it, fvck off into the private sector.
    3-) Only allow access to their pensions the same as the rest of us. None of this pension grabbing at age 50 and still making a quid after politics.

  21. Squirrel

    The “historically low levels of wage growth” would look even sadder if incomes in the public sector – including those parts of the workforce funded or significantly subsidised by public funds – were removed from the aggregate figures.

    It’s past time for the politicians and their spinners to stop hiding behind misleading economic statistics and to stop pretending that every dollar spent on or by the public sector is “investment”.

  22. egg_

    Another old bloke
    #2721540, posted on May 27, 2018 at 6:02 pm

    +1

  23. rickw

    Personally, I care not at all about the headline issue: At $528,000 a year, Turnbull’s pay is highest of any leader in OECD.

    That’s a lot of money for a Retard and a Traitor.

  24. Jo Smyth

    I should imagine a lot of the voters understand it but nobody takes any notice of us, until the election is due.

  25. NB

    When the American economy has doubled in size and the Australian economy is still limping, a government minister or two will discover that maybe, just maybe, there might be just a teensy bit of a reason to think about removing the ball and chain of left-oriented government everything. My goodness, too, how they will pat themselves on the back, and preen to the public, over their wonderful insight. They will have rescued us! From them…

  26. iain russell

    Agree with panthera mortis, mums are sacred. Please have some decorum.

  27. jock

    I tealise it isnt twee to say so but i thought low inflation and low wage growth were nirvana.?

  28. Manalive, great graph there.
    Obviously the nation fell off its perch in 1977, but is there an official reason it did so – as opposed to a real reason?

  29. OneWorldGovernment

    We need to stop the fuckers from TAXING us.

    Halve the number of politicians that supposedly represent us.

    Reduce the number of Senators that supposedly represent the States to only 2 per State.

    No elections for Senate and appointment by State Government only.

    Terms for State Senators finish when a State Government is elected.

    Cut all Excise Duties and remove it from the constitution.

    Disallow Income Tax Deductions for anyone that is paid from the Public Purse and in fact not allow anyone paid from the Public Purse to be able to pay Income Tax on that portion.

    Wipe out so called Non-Profit legislation and treat all individuals, companies and associations on the same basis.

    Disallow any and ALL contributions to some cause as a tax deductible item.

    That’s my start.

    Who’s with me?

  30. manalive

    Obviously the nation fell off its perch in 1977, but is there an official reason it did so – as opposed to a real reason? …

    Someone brighter than me may have a reason, just guessing it looks like some administrative change to the index calculations.

  31. EvilElvis

    public sector workers have done better, lifting the rate to 2.1 per cent Australia-wide.

    Here’s the next election sales pitch,

    “Public servants, cheaper on the dole.”

    Hatchet job the whole PS.

  32. John Matthews

    At the time of his election or thereabouts PDT declared that he would not accept the Presidential salary. It has been donated to veterans’ organisations throughout the USA.

  33. Rae, I would think that odd $80,000.00 or so is Tax on DT’s salary ….??.

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