Economic mis-management continues

As it happens I’m sitting at the airport at the Qantas terminal waiting on my flight when there is an article atop the paper about “Qantas boss warns climate hysteria threatens air travel”. Seems he’s not always as politically correct as he is at other times. However, what interested me here was the data on air traffic in Australia:

Business and consumer confidence is weak and there are no capacity increases likely in the near future.”

Unfortunately, with the present crew of economic mandarins on the job, both in Treasury and the RBA, nothing is going to change any time soon, because there on the lower left hand side of the page is another front-page story: “Rate cut likely after shock NZ move”. Here’s the first line:

“The prospect of negative official interest rates is hanging over the economy.”

That they are clueless about why the economy is growing so slowly is clear. Eventually they will be forced to start doing the right kinds of things, but it may take a long, long time and we will go through quite a bit of pain before they’re through. But it does make me ill to watch these people in action.

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32 Responses to Economic mis-management continues

  1. stackja

    If Keynes was the solution.
    Why is there still a problem?

  2. Chris M

    He’s realising to go woke is to go broke?

    Qantas hate Christians and dark skinned Rugby players, stopped using them last year. Alans gayz buddies can have my seat.

  3. Iampeter

    Unfortunately, with the present crew of economic mandarins on the job, both in Treasury and the RBA…

    Steve, you’re not wrong, you’re just unaware that as someone that supports regulating trade, immigration, tech companies, etc, you are ALSO an economic mandarin. A worse one.

    Is even any load-bearing structure left in your glass house at this point?

  4. J.H.

    “…Is even any load-bearing structure left in your glass house at this point?”

    …. Says Iampeter standing utterly ignorant in his dark unlit cave.

  5. Faye

    That they are clueless about why the economy is growing so slowly is clear. Eventually they will be forced to start doing the right kinds of things, but it may take a long, long time and we will go through quite a bit of pain before they’re through. But it does make me ill to watch these people in action.

    It’s making us all sick. Is it so impossible to get the PM, the Treasurer and Finance Minister to have a long session with Steve to convince them what has to be done. It’s no laughing matter that the country is going backwards at a rate of knots. It’s about time plain commonsense reigned in Australia. And no Keynes’ career luvies to be present.

  6. mh

    …. Says Iampeter standing utterly ignorant in his dark unlit cave.

    Steady on. Peter is our go-to man on Fed Reserve rates.

  7. Bruce of Newcastle

    Wow, Mr Joyce is going to be given the Milo treatment by the left. Doesn’t he want to save the world? He should sign St Greta up as an ambassador immediately.

  8. DaveR

    I’m with you ChrisM. As a lifetime Qantas Platinum member, I stopped flaying Qantas last year as Joyce rolled out one social issue after another. Sold all my Qantas shares too. I wonder if the Qantas board gave Joyce permission to use the long-standing Qantas brand, created before Joyce came on the scene, to back any social issue he chose?

  9. John Constantine

    Their war on cash must ramp up and fast.

    Their left is conflicted, at the bottom of their pyramid, enraged diversity hire vegynsys wymynsys in vikpol want to ragelaunch at mcdonalds and ban electronic payments from cars in drive throughs.

    Top of their pyramid need to ban cash, so negative interest rates can really function as phantasised.

    Only cash has stopped negative interest rates from saving socialism before.

  10. duncanm

    Chris M
    #3126297, posted on August 8, 2019 at 11:26 am
    He’s realising to go woke is to go broke?

    yup – just booked a business flight to the US – specifically did not choose Qantas

  11. John Brumble

    And in a *complete* coincidence, the air traffic controller union is making noises about how there aren’t enough air traffic controllers, and people have to do horrible things like work a bit longer some days if their colleagues call in sick.

  12. JB of Sydney/Shanghai

    John Brumble
    #3126394, posted on August 8, 2019 at 1:02 pm
    And in a *complete* coincidence, the air traffic controller union is making noises about how there aren’t enough air traffic controllers, and people have to do horrible things like work a bit longer some days if their colleagues call in sick.

    Regarding ATCs calling in sick…..there are only a couple of hundred or so Controllers in Australia. Each one is probably rated and current in one, sometimes two, positions. To maintain currency, they are usually rated annually, and checked by Check Controller every few months. in order to maintain their rating. There is not a large pool of”spare” Controllers sitting around a Rec Room doing nothing. So,if a couple or more go sick, the system staggers. (Also, Controllers are not allowed to work while sick, for obvious reasons).

  13. Iampeter

    …. Says Iampeter standing utterly ignorant in his dark unlit cave.

    Yes, because the average cat posters, that can best be described as “capitalist socialists” are shinning beacons of knowledge and clarity!

    Or do you prefer “socialist capitalists?”
    I ask because I notice that you big brained aficionado’s enjoy debating pointless technicalities that don’t change anything about the fundamentals in question, because you have no idea what the fundamentals in any given question are anyway.

    Can’t wait for the next brilliant and totally not self contradictory installment from someone who believes in central planning every aspect of peoples lives but doesn’t think he is a left winger.

    Just discussing the ol’ politics at the cat with it’s very smert posters.

  14. Dr Fred Lenin

    How the hell can an elected (by a handfull of preferences ) government make things so a profit making bank makes huge profits lending your money and charging interest , and not sharing the profits with the owner of the money? So you dont actually own the money you have saved ? Dies this apply to polliemuppet and public employees super ? Do we and they pay in and get no interest?

  15. Winston

    > Just discussing the ol’ politics at the cat with it’s very smert posters.

    Just as well we’re not discussing grammar then.

  16. Tom

    Joyce is prepping the market for the announcement of its final year result on August 22. Having finally done the delayed yard yards of cutting its fat, which should have been done immediately after the collapse of Ansett in 2001, the gloss is coming off its near-record years in the last couple.

    It’s hard running an airline when the private economy is in a recession caused by government policy. Joyce is woke, but, as a maths nerd, he’s not stupid. His industry has a bleak future ahead until Canberra starts removing some of its strangulation of the private economy.

  17. How is paying each other high interest any different from you & the neighbor paying each other to do each other’s laundry & calling it “boosting economic conditions”?

  18. JC

    How is paying each other high interest any different from you & the neighbor paying each other to do each other’s laundry & calling it “boosting economic conditions”?

    Lord you’re an idiot, Driller. Two people do not pay each interest because one has to be the lender and the other a borrower. This is why I get angry with you. Leave even the moderate to light intellectual lifting to those who are able to handle and you just go pour drinks. The laundry exchange is too stoopid to even reply to. You moron.

  19. John Brumble

    Yes, IB. And apparently the culture of toughing it out and pulling together when someone is off (by perhaps working a bit longer as a debil debil “management” might do elsewhere) is seen as a “toxic” culture. What’s really needed is spending lots more money on diversity, you see.

  20. Texas Jack

    Can I just ask all Cats – pretty please with cherries on top – never EVER fly Qantas and NEVER ever buy a Gillette product. I mean, N E V E R again. Wokeness in the boardroom has to be incinerated now, before anyone else thinks they can use a joint stock company to push social agendas.

  21. Squirrel

    It’s always fun to see the virtue-signallers tie themselves in knots, and the emergence of “flight shaming” presumably somewhat reduces the risks that we will be graced with the presence of St. Greta – so it’s not all bad.

    A government looking to save money in order to protect and build it’s long-awaited budget surplus really should be asking itself whether we need quite so many well-paid econocrats on the public payroll. A fair chunk of what they do is basically just copying, with a bit of tinkering, what is being done in the big northern hemisphere economies – given the enthusiasm of the econocrats for globalisation and competition (for everyone except them), perhaps we could arrange for some bright young economics graduates in Mumbai to churn out policy papers for a fraction of the cost of having it done in Martin Place and the Canberra Bubble…..

  22. mh

    The CEO at ESPN is attempting to turn the ship around after losing millions of subscribers.

    Now he thinks that viewers want sport not politics. No way!

    Who would have thought that sports fans don’t want progressive politics shoved down their throats?

  23. Boambee John

    Texas Jack
    #3126632, posted on August 8, 2019 at 6:09 pm
    Can I just ask all Cats – pretty please with cherries on top – never EVER fly Qantas and NEVER ever buy a Gillette product. I mean, N E V E R again. Wokeness in the boardroom has to be incinerated now, before anyone else thinks they can use a joint stock company to push social agendas.

    OK, but do you mind if I use up current Gilette stock? I’m too mean to throw it out.

  24. nb

    Economic policy:
    1) Regulate breathing to a standstill.
    2) Inject with adrenalin.

  25. Chris M

    Do Qantas still own Deathstar? I’m stuck pretty much with Virgin domestically right. Crudstar is mean and un-Australian but we have few choices.

  26. cementafriend

    Winston Smith and like what about the idiots at ANZ concern about Folou’s wife in netball (have not yet sold them but will soon), then there is idiot CEO of BHP investing in gender issues and leaving mining which they have been good at. (sold all my BHP and not only because the iron ore price is going down). Heard the idiot CEO of CBA saying they will not lend to companies in mineral resources and believes in climate cahnge and social issues (will be selling my CBA). Directors of companies by law and meant to serve their shareholders not run down the company and at the same time pocket large salaries. I am for low salaries and share incentives. If a companies profit goes down and the share price goes down then directors should get no pay.

  27. Davey Boy

    Joyce – that bloke who during the SSM debate made it known he wanted his employees to have his a ring around their finger

  28. Iampeter

    > Just discussing the ol’ politics at the cat with it’s very smert posters.
    Just as well we’re not discussing grammar then.

    Sure do bring it up a lot. Almost like you don’t know anything about politics, can’t respond to those who do, so grasp at non-essential technicalities to evade conceding…

    Like I said, super SMERT people here.

  29. The Pugilist

    Just been reading about Philip Lowe’s appearance in front of the House of Reps economics committee. His prescription for growth is lower interest rates, public sector wage rises and construction of white elephants (no doubt using overpaid union labour). Kermit, fozzy and miss piggy called…they’ve asked Mr Lowe to cease and desist – he’s giving Muppets a bad name.

  30. John A

    Texas Jack #3126632, posted on August 8, 2019, at 6:09 pm

    Can I just ask all Cats – pretty please with cherries on top – never EVER fly Qantas and NEVER ever buy a Gillette product. I mean, N E V E R again. Wokeness in the boardroom has to be incinerated now, before anyone else thinks they can use a joint stock company to push social agendas.

    I concur, TJ.

    A long, long time ago (sounds like the start of a Don McLean song, yes) I worked for Gillette briefly (with a beard but much less obvious than now:-) ). My last set of “Contour-compatible” razor cartridges was bought overseas via eBay. I don’t have to use many to maintain the facial fungus in presentable condition.

    In an earlier life I travelled Qantas Domestic but gave that up when I changed careers. I still have a Bronze FF card and account but with no usable points in it. I am not in any hurry to rebuild the points.

    As a semi-retired CPA I am also well OVER the wokeness of my so-called profession, and skip the main PC articles in my monthly journal.

    The boardrooms of this nation on the whole are aiding and abetting the construction of their personal guillotines.

    I pray regularly for the awakening of the sleeping giant of the general populace and the rediscovery of large deposits that very rare earth element: Common Sense.

  31. Frank Walker from National Tiles

    The CPA are really woke.

    Strangely, so are the American Physical Society…

    Anyway, here is a list of P&G products & brands:

    https://en.wikipedia.org/wiki/List_of_Procter_%26_Gamble_brands

    Dishwashing

    Dawn dishwashing liquid
    Joy dishwashing liquid
    Gain dishwashing liquid
    Ivory dishwashing liquid

    Menstrual hygiene

    Always menstrual hygiene products
    Tampax tampons
    Whisper menstrual hygiene products

    Haircare
    Head & Shoulders shampoo

    Ascend hair care products
    Aussie haircare (shampoos/conditioners/styling aids)
    Braun hair care and grooming products
    Frederic Fekkai hair care products sold
    Head & Shoulders shampoo
    Nicky Clarke hair products
    Pantene hair care products (purchased from Hoffmann-La Roche in 1985)
    Vidal Sassoon haircare products (purchased in 1984 from Vidal Sassoon)

    Healthcare products

    Align probiotics
    Crest toothpaste
    Femibion (acquired from Merck Group)
    Fixodent denture adhesive
    Iliac/Nasivin (acquired from Merck Group)
    Scope mouthwash
    Metamucil laxative/fiber supplement (acquired G. D. Searle & Company in 1985)
    Neurobion (acquired from Merck Group)
    New Chapter dietary supplements[3]
    Pepto-Bismol over-the-counter drug for minor digestive system upset (acquired as part of Norwich Eaton Pharmaceuticals in 1982)
    Prilosec OTC (licensed from AstraZeneca)
    Sangobion (acquired from Merck Group)
    Seven Seas (acquired from Merck Group)
    Vicks cough and cold products
    Swisse

    Household

    Ace stain remover liquid
    Bounce fabric-softener sheet for dryers.[4]
    Cascade dishwasher detergent
    Fairy (known as Dreft in the Netherlands) dishwashing liquid, toilet soap, household soap, laundry detergent and dishwasher detergent
    Febreze odor control
    Flash cleaning product
    Jar dishwashing liquid and dishwasher detergent
    Joy dishwashing liquid
    Mr. Clean household cleaners
    Puffs tissues
    Luvs disposable diapers

    A bar of Safeguard soap

    Safeguard antibacterial soap brand[5] marketed by Procter & Gamble, introduced circa 1965. Safeguard soap is marketed under the brand name Escudo in Mexico.[6]
    Tide detergents
    Swiffer cleaning products

    Laundry detergents

    Ariel laundry detergent
    Bold laundry detergent
    Bonux laundry detergent
    Cheer laundry detergent
    Daz laundry detergent
    Downy fabric softener
    Era laundry detergent
    Dreft laundry detergent
    Gain laundry detergent
    Ola laundry soap
    PMC laundry soap
    Tide laundry detergent
    Lenor laundry detergent

    Skin care

    Fresco bar soap
    Ivory bar soap
    Olay skin care products (acquired in 1985 as part of Richardson-Vicks Inc.)
    Old Spice aftershave, skin care and hair care products (acquired
    Secret antiperspirants and deodorants

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