Australian Banking – what people are saying…


People are saying that the government does’nt have a grip on the economy and the other important issues we face. But there should be no surprise about the present financial crisis or how we came to be part of it . No surprises that over such a brief period global changes swept in by successive governments of whatever creed.

Where are we now compared to when? Many Australians exhibit a pattern of dependance, on this system of exchange based primarily on debt, growth and the dippy business cycles often described today as ‘the global economy’. We are told that we must be part of this for our success and prosperity but not told exactly why… now many people are saying this level of debt is unwise and especially not conducive to living prosperous and healthy lives.

So its no surprise that governments across the globe have connected through history and these financial networks of federal reserve banks, lessoning the leverage and autonomy of hitherto free and sovereign nations, combining our fate with theirs if the governors so decide. We are told that more regulations of this type will again fix the problem and protect people but people are now saying they have heard all that before. Many people are saying our politicians could be acting for local and national interest and its understandable why more people are saying this. Some are even saying that countries such as Australia should exercise complete control over a debt free currency, so it can be used conveniently and non inflationary as a means of exchange between productive and otherwise desirable entities within the nation.

Here is a brief review of Australia’s Gobble-isation (how we got gobbled up by the world)

Howard 74 – Campbell Enquiry -Banking De-regulation tick.

Hawke 80’s – Trade De-regulations begin tick.

Keating 90’s – Asian integration and banking freedom tick.

Howard 97 – End Game Plan, Free Trade Agreements, RBA changes, APRA appears, global bank rush, non banks and the resources explosion coupled with mass consumerism, imports and a licence to be in debt…heavy debt…tick.

Kevin 07 – More of the same. Global financial co-operation and the transaction of lending without prudential regulation or knowledge,
inheritance of heavily indebted population, gross dependance on imports, continued damage to natural infrastructure through unbridled global access to water, soil and resource assets with very little economic accounting or regulation. Words and slogans but little substance to stated intent to transform the energy intensity and waste of the Australian economy, business environment and the emerged political structures underlying them continually prove themselves not to be acting in the public interest nevertheless governed and suggested by entities outside of the elected and popular nature of the pretended democratic system…tick

If the Australian economy and political structures made sense now or were in reform, this could be of little consequence. But they dont. Energy reform has not occurred and international consortium hold more sway in cabinet than any punter in the street or politician. Public relations now is the norm for such government as we witnessed with Howard and his big ticket green house reforms and major deals to create jobs and eliminate world poverty. The same can be said of the key cabinet folios of energy and resources, water and climate change and environment. All well flushed with grandeur but short on substance, action and micro-economic reform – the easy wins and indications of a reformist government.

In all his tomes the ‘hand picked’ Greenhouse advisor forgot to spell out the details of his own investment folio and then made only fleeting reference to the stupidity of Australian agriculture without spelling out actual reality or a plan worthy of the harsh reality and incessant hammering this land has taken from global growth and non-interventionist governments glossing over these finer details in favour of the bottom line. People are saying that we have had too many consultants reports and studies already, and its now time for sincerity and action…..more and more people are saying that.

The Australian population is largely in debt and still dependant upon the poor system which has been put in place at great expense. It might be time for Australians to ask for transparent and diligent government to put this country and its people first.

Thats what people are saying…

Further fun and information:

Clarke and Dawe on the RBA…this is good 🙂

Image by : N.C. Wyeth 1882-1945

Kevin Rudd’s plan to rescue capitalism: essay

This literary jaunt of the PM is rather obamaresque and interesting given that several long term macro economic policy areas such as ‘energy’ and ‘fuel’ have been shyed away from ( Fuelwatch was the canary in the coal mine in terms of this reality).  This is also a government that has enabled the continuance of several old school projects damaging to natural infrastructure ( Gunns Pulp Mill, Brumby water plan, Roxby water rort and so forth) . The PM appears to be attempting to ‘get with the times’, but the attempt is looking feable and political in the context of his enmeshment with the Greenhouse Mafia, which wrapped itself tightly around the Keating and Howard governments.