Howard and Costello’s Value Lost in Waste

The idea of utilising  cuts to the GST has risen its head as  a  potentially beneficial way to help stimulate economic growth and offset the downside of a budget deficit (Yep! Kev’s got to accept the nasty reality).   Surely the thought has crossed  Kevin’s mind.  In fact, I stumbled onto this idea on Peter Martin’s blogspot by pure accident.  The question raised is simple: Why not simply cut the GST?

http://petermartin.blogspot.com/2008/11/why-not-cut-gst.html’

It’s an idea that’s occurred to Stephen Koukoulas of TD Securities:

“One very simply plan, which would not have a lasting impact on the Budget balance would be a 12 month cut in the GST to say 8%, perhaps lower. This injects money into the economy immediately, it is fairer in that is does not simply benefit borrowers; if implemented with a 12 month sunset clause, future budget balances would not be impacted and it could dampen inflation expectations. (There are issues of State financing, an effect on bringing forward spending with a hangover after that and the like, but these are small beer when policy makers are doing as much as possible to inspire economic growth.)”

Sound like a plan to me.

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The collapse of civilisation – part II

In a move that further advances the collapse of civilisation, federal parliament last night passed the Same-Sex Relationships (Equal Treatment in Commonwealth Laws Superannuation) Bill 2008, honouring a commitment made during the election last year – how dare they actually do something like keep a promise. Don’t they know about hard-core and soft-core promsies?

The bill – which was based on the recommendations that were tabled in the Human Rights and Equal Opportunities report presented to the Howard government – is the first step in removing around 58 pieces of discriminatory legislation from federal laws. Another law was sent back to the lower house for some technical amendments.

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Are Australian Actors just Crap?

Last week I posted about Nicole Kidman’s (lack of) acting ability and labelled her as the “ice maiden” effectively summarising her performance in The Invasion.

Apparantly I’m not alone.

Melanie Reid, writing in the Times newspaper, describes as a “big, big mistake” Luhrmann’s decision to select Kidman for the role of Lady Sarah Ashley, who inherits a remote cattle station shortly before World War II.

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“This is not just a financial crisis its a major economic collapse”

US Fed Chairman has finally admitted he got it all wrong:

I misread subprime crisis: Bernanke

November 24, 2008 – 8:53AM

    US Federal Reserve chairman Ben Bernanke acknowledges he was wrong in believing that there would be limited fallout to financial markets from risky mortgages that soured after the housing market’s collapse.

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    Gaza and the blockade

    The boyf has been posting on the humanitarian crisis in Gaza, and no-one seems to care. Are we so immune to their blight that we do not care anymore?

    Singapore and Gaza.

    Why is no-one angry and concerned for the people in Gaza?

    I know that the blogocrats do not normally get worked up over this, but real people are dying and we are doing nothing.

    joni