Saturday Sanity Break, 6 August, 2016
Some nice economic/politicio analysis today, gentle readers, though not from the government. Alan Kohler says: 'banks are going to have to return interest rates to normal without having declared victory in their fight against low inflation and falling investment. It will be one of the greatest failures of public policy in history.
'Only when they release capitalism from the distortions of negative real interest rates and printing money to buy government bonds, and thus driving up their prices, will business get back to normal'. Read on here.
Another useful point is made by Terry McCrann. Malcolm Turnbull is skating on thin ice, and the only plausible successor is Scott Morrison. He must greatly modify the idiotic Superannuations plans (I would say abandon them) if he hopes to get his shot at the top job.
And it will not cost the budget a row of beans. As McCrann says: [sensible changes to superannuation] '...will make four-fifths of very little real difference to the budget bottom line in the short term. But they would seriously damage it in the long term by encouraging even more investment in both negatively geared property and the family home, and by encouraging otherwise self-funded retirees to “retire” instead to the old-age pension'.
Kulture
Do not miss Bill Leak's conversation with PJ O'Rourke in the Oz.
Lots of laughs, but section below the cartoon, about Donald Trump as president, is some of the best black humour I have seen.
Do note image of the week. Truth must be told, gentle readers.
A modest windfall persuades the Jonson/Thorntons to go travelling, interspersed by a conference in Rome (for PJ) and teaching in Prato, near Florence (EWPJ).
Includes vsits to New York, Norway, Naples, Tanzania and Kenya. (If the government is going to take it, might as well spend it.) Read on here.
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Sport
The Ollys are underway and the opening parade was all one could wish for. Now let the games begin, and may the Ozzie swimmers beat the wonderful expectations fuelled by the spin meisters.
Hawthon and the Swans look wonderful, with many other fine teams filling the eight. Caaaarlton!'s fine early season form sputtered out while Henry was away, but I have been told by a good judge that their spirit hardly flagged. Roll on 2017.
Image of the week
