Here they go again...

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15-Jun-2020 08:19 AM

Democrat

Posts: 72

In a cunning but transparently dishonest move, the Commonwealth is at it again. Under cover of purporting to be concerned over the coronavirus pandemic, they have produced a loaded survey which they will hold up to the federal parliament (and possibly eventually the United Nations) as some sort of quasi plebiscite on the future of governance for Norfolk Island. Norfolk Islanders should see this "survey" for what it is - consolidating the undemocratic coup which took away the rights of genuine Island citizens to determine the model of governance under which they choose to live. Instead of allowing Norfolk Islanders to design and implement any expression of community opinion, once again Commonwealth politicians and bureaucrats are dictating how Norfolk Island will be governed and the economy managed for the next 10 years. 

This is highly ironic, given the inability of the Commonwealth to accurately plan and forecast outcomes for the national economy even one year ahead. Yet for NI, they propose a Stalin-style 10 year plan! But don't worry, they tell you -we know what is best for you (and one day we might even tell you). Don't fall for the trap - fill out the survey and make your views as clear as you can within its constraints, but continue your efforts to have the United Nations supervise a genuine expression of the wishes of Norfolk Islanders for the future. In that context, it is vital that the electoral roll is not loaded up with bureaucrats and non-Islanders in an attempt to subvert any genuine community plebiscite on future governance.

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16-Jun-2020 04:06 PM

Ravelstein

Posts: 124

re. "..once again Commonwealth politicians and bureaucrats are dictating how Norfolk Island will be governed and the economy managed for the next 10 years. 

This is highly ironic, given the inability of the Commonwealth to accurately plan and forecast outcomes for the national economy even one year ahead. Yet for NI, they propose a Stalin-style 10 year plan! But don't worry, they tell you -we know what is best for you..." 
                          $$$$$$$$$$$$$$$$$$$$$$$$$$

Cheers Peter...on the money yet again! ...perhaps they should re-brand it the:
  "We're On Our Way to Hell In a Hand-Basket - & You're Coming With Us ... PLAN"


As far back as October 2014, Martin Wolf wrote an article in The Financial Times titled: 'We are trapped in a cycle of credit booms'. He notes:

  • 'Consider the past quarter century: a credit boom in Japan that collapsed after 1990; a credit boom in Asian emerging economies that collapsed in 1997; a credit boom in the north Atlantic economies that collapsed after 2007; and finally in China. Each was greeted as a new era of prosperity, only to collapse into crisis and post-crisis malaise.'

Since the advent of CHAFTA, the Chinese & Australian economies are pretty much'joined at the hip': https://rb.gy/tzoqve

One of the smartest money-men around - Kyle Bass of Hayman Capital - has called China a “$34 trillion experiment” which is “exploding”... where Chinese bank losses “could exceed 400% of the U.S. banking losses incurred during the subprime crisis”...& that was as far back as Feb. of 2016 ... when things were still looking relatively rosy between the Middle Kingdom & Oz [cf. https://rb.gy/1rlij3 ]  ... around the same time 
Societe Generale’s China economist Wei Yao noted: “Chinese banks are looking down the barrel of a staggering $1.7 trillion — worth of losses”...

ALL, in the 'good-times' ... pre-Covid-19 era....

Some of our more uncharitable economists might even argue that the Australian economy has only 'grown'(sic) since the GFC ... via prostituting the Australian property market to:
 1) 'hot-money' escaping the impending PRC 'credit-apocalypse' meltdown ... & looking for a laundry...
2) 'runaway' -sugar-hit - immigration ingress, which has leveraged Oz real-estate prices by well over6,500% in just the last half-century ... & left skyrocketing numbers of non-rentière citizens, sleeping rough & homeless...
...to make matters even worse however, the metastasizing 'property bubble' is in fact hyper-inflating on top of a 'black-swan' mining bubble ...driven by the greatest commodities bubble in human history ... ALL as a collateral function of the PRC's gargantuan Ponzi-playbook credit-bubble... 

This will not end well.

          $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

...my best guess in fact, is that the "Canberra-Bubble" apparatchiks are- very prudently - setting Norfolk up as a bolt-hole 'gated-community' ...for themselves to retreat to ...once the Australian sheeple wake up - to just how far down the river they have been sold, since the overthrow of the Whitlam gov't.

etc. Ravelstein

 


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01-Jul-2020 07:05 PM

Ravelstein

Posts: 124

Just as I predicted - the meltdown has begun ...as per: https://rb.gy/iawmbw

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