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http://www.crikey.com.au/2014/05/12/ign ... -it-helps/It is true, however, that progressive parties like Labor, especially, in Australia, and the Democrats in the US, have struggled to find a way to counter how politicians of the Right have freed themselves from the shackles of consistency and evidence. But for now, the most sound analytical approach is to ignore what the Coalition says and focus entirely on who benefits from its use of power.
http://www.kingstribune.com/index.php/w ... -australiaSo let’s start with the contention that “politicians of the Right have freed themselves from the shackles of consistency and evidence”.
There seems little doubt about this. We see it in regard to everything from climate change to austerity economics to Saddam’s weapons of mass destruction. Ideology trumping evidence. A veritable legion of right-wing commentators and journalists willing to say almost anything in the name of group fealty.
It’s not just that they have backflipped on the matter of broken promises, and are willing to give Tony Abbott a pass on something they would never have given to Julia Gillard and Labor. It’s that the whole piece is predicated on the idea that “cuts are necessary to re-establish the conditions for growth and prosperity”.
This in turn buys into the government’s claims that there is some sort of Budget crisis facing the country and that that is being driven by other crises, most specifically those to do with healthcare and pensions.
In other words, the whole contention that “promises need to be broken” is built upon a range of conclusions about the economy that are simply wrong. The alleged crises do not exist. Even if we wanted to be incredibly generous and allow that the underlying contentions are at least debatable, we would still have to note that they are not actually debated in pieces like that editorial. They are merely asserted. They sit there as the unexamined assumptions fuelling the whole “debate”.
There's quote a lot of insight in this article about the current state of political journalism and the creeping conservatism of Australia which warrants thorough understanding.
If the new money is then spent into the economy the result is a devaluation of the current monetary base due additional money chasing the same goods and services. This in practical effect is the inflation tax. Thus the government owing itself is really a means to indirectly tax.Most govt bonds are purchased by the reserve bank danger
This is how the money supply is increased
When the govt "borrows" money it generally issues bonds to the reserve bank in exchange for currency
The reserve bank is federally owned
Thus the govt "owes itself"
Cool try at being a smart ass though
A government like the Federal one in the U.S. can really take advantage of this mechanic because much of the inflationary effect (in reality the indirect tax) can be exported due to the high demand for U.S. dollars in international trade.
In Australia this indirect tax has to be more carefully applied less the value of purchasing power is eroded too quickly.
Of course it is not quite as simple as what i just wrote as there are other factors which complicate things, nonetheless the basic principle is sound.
Fiat currencies issued by the state have always enabled the state to tax indirectly. People are more likely to fund an increasing indirect tax due to not understanding its true source. In fact the state can easily misdirect discontent in favour of furthering other facets of societal moulding.
A vote for a punch in the face or a kick in the head ought bring no surprise or regret.wat a dizgrazze
p. close to wishing had not voted liberal
not even close to enough cuts.
Eroding Australia's wealth one bungled monetary policy at a time
Interestingly the inflationary pressure only kicks in once prices readjust to the increase money supply , so it acts like some mass form of insider trading lol
whale do you (or anyone) know specifically how much of the debt is bought by the Reserve Bank. I'm assuming at least some of the debt is bought selling bonds to private buyers. Is it not? (Not a Troll)
This is some basic bitch stuff from the Libs tho, issue whack budget (if no one notices, sweet, cash money gold mine dolla dolla bill y'all), rile the plebs up, they make themselves look retarded which makes the semi-plebs want to be even less plebby, sacrifice the token of evil to appease the plebs, have budget reworked into initially intended and still bullshit but comparatively "lesser evil".