THE CONVERSATION

      Carbon trading

      Carbon trading
      “Tony Abbott released his alternative greenhouse gas carbon reduction proposals a week ago. At first glance it looked well thought out it. However the more you think it through the obvious flaw in it becomes evident. It is based on emissions intensity. Now that’s clever. But is the intensity measured at the organisation level or is it measured at the 'unit of production level'? ”
      Alan Anderson

      Australian banks

      Bank guarantees
      “The only point most people seemed to have missed regarding the wholesale funding guarantee , is that the big four banks passed on the 70 basis point fee to their customers who had deposits of more than $1 million. The banks didn't pay the fee, we did.”
      David Bradshaw

      China

      The Yuan peg
      “Given that US debt with China is denominated in US dollars, a revaluation of the yuan, as requested by the US, would not alleviate the burden of debt on the US, but would reduce the export of unemployment from China to the US. On the other hand, monetary expansion in the US leading to inflation would lighten the US debt burden vis-a-vis China. Fear not, the US still calls the shots.”
      Joe Belbruno

      Interest rates

      Dartboard economics
      “It's all very well to say that the Reserve Bank of Australia got it wrong, but as someone who attends these 'secret society' meetings, I can assure you that we do look at the data. We do, sometimes, use a big dartboard – but Stevo forgot to bring it last time.”
      Brian Bragg

      Other Topics

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      LATEST CONTRIBUTIONS ON ALL TOPICS


      1 - 15 of 12551 articles   next

      Tyranny of distance

      TOPIC : Defence matters

      I am sorry to say that I agree with you Mr Gottliebsen. (See Last chance for Australia's defence, February 9.) I think that perhaps the defence writers and more importantly the strategists are not looking at the new look big picture.

      Yes, the F111 should be retained and upgraded whaterer else happens. It is simply the only plane that does it's job with these distances in mind.

      Roger Knight 9 Feb 2010 4:07 PM

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      Macquarie's free run

      TOPIC : Macquarie Group

      Let's not forget the comments made by Macquarie Group acting chairman Kevin McCann at last year's AGM (see Macquarie shares fall despite profit upgrade, February 9) ;

      "In Australia, however, we should resist regulation which addresses issues faced by other jurisdictions, but which were not experienced here, because of the prudent risk management practices of Australian banks under a solid regulatory regime."

      "Regulation should not operate to stifle a financial sector from providing innovative financial products of utility to business and general communities."

      He failed to mention the emergency aid provided by government guarantees on bank deposits and debt funding in international markets which allowed the banks to raise huge amounts of capital at cheaper rates so they could continue with their debt leveraged market speculation and international acquisitions.

      Our bank execs, on their huge risk-enhanced bonuses, continue to champion free market philosophy. The only lesson our bankers have learnt over the last few years, during the initial phase of the global financial crisis, is that they can take on as much risk as they wish, knowing that the government (read taxpayers) will bail them out.

      It will be very interesting to see if MacBank remains such a free market cheerleader as the next wave of global crises unfold.

      Phillip Hayes 9 Feb 2010 2:51 PM

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      An army of variables

      TOPIC : Defence matters

      Robert,

      The answer to the question of who will have air superiority in any given place at any given time is most complex, with aircraft technology but one element. (See Last chance for Australia's defence, February 9.)

      While Kopp and Goon are valuable contributors to the debate, they choose to focus on one element of the equation – the aircraft and weapon technologies – whereas you need to properly understand all the factors: human; training; doctrine; logistics; reliability; technology releasability; affordability; and other defence systems. It involves a true and total systems employment case that contributes to the use of the end element the aircraft technology, by the final human in the loop – the fighter pilot / air combat officer.

      Russian technology is very effective in the hands of a trained, capable and experienced fighter pilot used to their employment strategy and doctrine, and has evolved with a different and innovative foundation than western technology, emphasising the originator's strengths. However, for consideration, you fight the man as much as the technologies.

      And Messrs Kopp and Goon have not 'been there and done that' from that perspective.

      Nevertheless, the debate and different views are important to ensure Australia obtains the best solution for our circumstances.

      Group Captain David Willcox AM CSC, retired fitgher pilot, 9 Feb 2010 2:48 PM

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      Flash is unfair

      TOPIC : Regulation

      This type of trading is nothing but theft and will ultimately destroy the stock market as a place where a average Australian will be willing to invest their money knowing that those that are operating these systems are every day slicing small chunk off the true value of the company. As they say for someone to take a profit someone must make a loss.

      And any losses are not being incurred by those operating these computer systems.

      (See The 'rithm stick, February 8.) With the delays (up to 10 minutes or more) being experienced with the new Westpac System, then these guys have been given an additional huge advantage.

      Neil Venaglia 9 Feb 2010 2:39 PM

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      Obama's flying visit

      TOPIC : Defence matters

      In this context, it's worth asking why Obama is visiting Australia. (See Last chance for Australia's defence, February 9,) The most likely answer is to sell us something and/or get us to sign the contract.

      The JSF deal has looked shaky for years and I'm sure that the US would like to lock in sales to help defray the costs.

      Given the craven fawning going on about the Obama visit, I don't like Australia's chances of making sense of this looming debacle.

      Mike Bolan 9 Feb 2010 2:30 PM

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      More information, please

      TOPIC : Defence matters

      Air defence involves a total system including long-range over-the-horizon radar, ground-based air-control radar, aerial refuelling and Air Early Warning and Control aircraft (AWACs). It also includes the quality of pilot training, including the regular use of state of the art simulators. Maintenance and maintainability of aircraft is also an important feature.

      What is the comparative engine life of Russian and American fighters? Please Robert, give us the total picture. (See Last chance for Australia's defence, February 9) Which countries threaten Australia with modern Russian aircraft and how do they compare on a total system basis?

      It would also be nice if you could quote an expert other than Karlo Kopp, who has long been on record as wanting Australia to be the only country in the world operating F111s far into the future. Yes, Senator Faulkner is a Defence Minister who can be admired across party boundaries. I’'m sure he’'s wise enough to insist on a comprehensive picture rather than these types of narrow arguments.

      Graham Middleton 9 Feb 2010 2:16 PM

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      Kirk's coup

      TOPIC : Industrial relations

      Hats off and thank you to Mr Kirk. (See Kirk's legal revolution, February 4.)

      As a senior manager in a very dangerous occupation, I go to work each day and worry that one of my workers may be killed while trying to rescue someone. Besides the tragedy of having to tell a wife she is now a widow, I have lived in constant fear that there is just no way I would have been able to defend myself from WorkCover's interpretation of an incident. Thanks to Mr Kirk, a great weight has been lifted from the shoulders of myself and many of my colleagues,

      Name withheld on request 9 Feb 2010 1:57 PM

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      Pride doesn't fly

      TOPIC : Defence matters

      Australia seems to have a desire to come last in the air race. If what you say is correct, we have been out performed before our planes get off the ground. (See Last chance for Australia's defence, February 9) It will be like pitting a Wirreway against a Zero in 1942. Remember how many young lives were lost then? But the decision-makers never have to fly, while their mistakes get shot down and die. Pride is a terrible thing. If what you say is correct, not only should we sack the JFC, but the fools who persist with its purchase. Let's swallow our pride and buy the Russian plane if the Americans want to give us a second rate crate.

      John Hutton 9 Feb 2010 1:12 PM

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      A fine balance

      TOPIC :

      A very good, balanced article Stephen. (David and Goliath banking, February 9) Good to see someone in the media prepared to confront the complexities of these issues, instead of trying to reduce it all to a sensationalist headline.

      Andrew Dickinson 9 Feb 2010 12:59 PM

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      We need a green solution, not ETS

      TOPIC : Carbon trading

      instead of having an ETS/climate change policy, we need an environmental strategy. All this money going into the ETS should be going towards finding better, sustainable solutions while teaching people how to care for the environment and protect resources.

      (See Carbon copy, February 2). Why tax us for something we don't know we're using?

      An ETS is a poorly conceived policy and no political party has a viable and credible plan anyway. The main aim shouldn't be to cut emissions and tax the public. It should be about finding solutions now to cut back on emissions for the future. How will a tax achieve that? People won't stop their usage habits just because they have to pay extra. Most people are unaware of how they are even creating emissions!

      This is all rather embarrassing for Australia, actually.

      Charlotte M 9 Feb 2010 12:54 PM

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      Ireland is no PIG

      TOPIC : Global credit crisis

      In defence of the Irish – According to Wikipedia, PIGS is the acronym for Portugal, Italy Greece and Spain (despite the protestations of the Italian bank Unicredit). (see Why Europe must act, February 9) There are suggestions that Ireland (PIIGS) and even Great Britain (PIIGGS) should be added, but the original "Club Med" includes Italy rather than Ireland.

      David O'Bryen 9 Feb 2010 12:19 PM

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      We need to cut and run

      TOPIC : Defence matters

      I am with you Robert.

      I have been banging the drum on this for years.

      (See Last chance for Australia's defence, February 9).

      We've been conned by the USA hucksters and marketers again.

      A great shroud of secrecy and myopia seems to envelop our own advisors.

      Just as we've managed to slip out from under the UK's influence, we need to spit out the American teat before we are terminally addicted and cannot get away from being dragged along by the ongoing genius that is American foreign policy.

      D Stoy 9 Feb 2010 12:07 PM

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      We can rule the skies

      TOPIC : Defence matters

      The F-111 is still a very capable long range strike aeroplane – so why not defibrillate the Australian aviation industry and design and build an F-111 Mk II, with modern engines, avionics and weaponry?

      Simon Thomas 9 Feb 2010 11:58 AM

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      Goodbye, Tunrbull

      TOPIC : Carbon trading

      I don't believe any of the rhetoric coming from Wong and Rudd over their ETS scheme.

      (See Turnbull blasts coalition's climate plan, February 8).

      We the people need a full and open debate about this whole scheme as it will be the taxpayer paying for everything in the long run.

      As far as I am concerned, Turnbull can stay with Labor when he crosses the floor – and don't come back!

      Keep up the good work Abbott on making this government more accountable on this issue.

      Robert Garven 9 Feb 2010 11:50 AM

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      A shot across the bow

      TOPIC : Defence matters

      G'day Robert, I am not an expert in defence, but assuming your assessment of the situation is correct, we are in dire straits.

      (See Last chance for Australia's defence, February 9.)

      But you said it in your last sentence "people have staked their reputations on it": pollies and bureaucrats are mostly in it to further their own egos, it has nothing to do with guiding the country or serving the people.

      Peter Eisenhut 9 Feb 2010 11:46 AM

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