Simon Badenoch

🇦🇺

[🇦🇺Craig Tindale @ctindale]

The Australian economy isn’t working anymore , it’s collapsing and only being held together by foolish govt debt based life support. Like 80% of NDIS spending .

Instead of building real industries or raising wages, we’ve turned the whole thing into a giant real-estate Ponzi scheme. House prices keep inflating, people borrow against that paper wealth to keep spending, and the entire “growth” story now depends on ever-rising debt.

The RBA is actively pushing the financialisation of housing so ordinary wages get sucked straight into the banks. Central bank independence isn’t working for Australians it’s working to financialize workers wages for benefit of the banking sector .

Banks don’t create any new wealth , they’re just unremarkable middle-men skimming rent from the rest of us. It’s a classic debt-enslavement trap.

To hide how broken the system really is, governments have opened the floodgates to mass immigration. It pumps up the GDP numbers, props up the housing bubble with more buyers, and creates a bigger pool of voters for short-term political gain.

And the money doesn’t even stay here: in 2022 alone, Australians sent USD 6.546 billion overseas in remittances , enough to rank Australia among the world’s top 25 remittance-sending countries and equal to 1.4 % of all global remittances.

That flow has grown faster than the global average since 2000, with the biggest shares going to China, India, Vietnam and the Philippines, plus major contributions to Pacific island economies like Tonga, Samoa, Vanuatu and Fiji.

In other words, Australian wages are now subsidising foreign economies while the same immigration surge drives up rents and house prices at home.

It’s a cynical, disgraceful tactic: use immigration to paper over an economic crisis and rig the electorate, while the country’s long-term social fabric, infrastructure, wages and affordability are quietly destroyed.

The supposed “growth” is mostly just more people and more debt , not prosperity.

Sooner or later the bubble pops, and the bill lands on ordinary Australians.

Sooner has arrived .

[Stelios Panagiotou @Panagiotou90St]

Deep down, those infatuated with flattening wealth inequality assume that erasing the profit motive will not impact productivity negatively. Or they are lying and they are just interested in resource extraction to help their political friends.

[Simon Badenoch @SimonBadenoch]

@GenXTruther72 Because Au is over regulated and over taxed and the potential for the growth required for ROI is orders of magnitude greater there than here because of these things.

[Simon Badenoch @SimonBadenoch]

@senatorbabet @Katherine_deves To be fair they are probably the same thing in the end.

[TheRoadknight @RoadknightThe]

Some excerpts from the article:

On Sunday, the Australian Historical Association banned Roger Karge from giving his advertised presentation at its annual conference in Sydney the next day — a conference sponsored by the Department of Defence.

Karge is head of the website https://t.co/asIwLTTrrG, where he and his researchers and professional genealogists have done astonishing work in debunking falsehoods.

For instance, they confirmed that Melbourne University’s Professor Bruce Pascoe, author of the bestseller Dark Emu, is not Aboriginal at all, despite claiming to be descended from no fewer than three tribes.

Their research of genealogical records showed he has not one known Aboriginal ancestor, and Pascoe has refused requests from them and me to prove us wrong.

What’s more, Karge and his team also helped to prove Pascoe’s book peddled a junk theory that Aborigines weren’t originally hunter gatherers, but farmers living in “houses” in “towns” of up to 1000 people.

Pascoe’s claims were preposterous, based on false or wildly misinterpreted sources, but he and his trash book were promoted as truth by the ABC, academics and teachers.

The more that Karge and his team dug, the more fakery they found.

Most spectacularly, they found at least six other university academics who also claimed to be Aborigines, despite having no known Aboriginal ancestry. Most held themselves out as Aboriginal experts and some even had jobs meant for Aborigines.

Again, none would give Karge and me any evidence that they were indeed Aboriginal, although one has since quietly resigned her position.

Other than that, the universities employing these white “Aborigines” have refused to take action, demonstrating how little commitment to truth our academies of learning really have.

In 2003, iconoclast historian Keith Windschuttle in his magnum opus, The Fabrication of Aboriginal History, exposed critical errors by historians — including Lyndall Ryan, valorised by the AHA — who’d claimed there’d been a genocidal campaign against Tasmanian Aborigines.

The AHSA was so shocked (by Windschuttle, not Ryan) that it met for almost a whole day to work out how to hit back.

But check Karge’s supposed sins for yourself. Go to his website and see what’s there that could possibly be a crime against the truth or history.

Was the AHA perhaps alarmed by his posts on the Risdon Cove “massacre” in 1804, which Karge planned to elaborate on at its conference?

You’ll find Karge says claims by Ryan and other historians that between 30 and 50 Aborigines were killed there were largely based on false testimony by an “eyewitness” who hadn’t actually arrived in Tasmania until two years after the affray, and didn’t give his evidence until 24 years after that.

The true death toll, says Karge, was about three.

So what debate, what truth, does the AHA want stifled? And are the academics it represents just as intolerant of dissent in our universities?

https://t.co/4hLp5cnl0X

[Krzysztof Szczawinski 🇵🇱 @Kristof_Poland]

Atlas Shrugged made simple:

1. Society runs on a small number of highly capable producers – industrialists, inventors, engineers – whose work everyone depends on but takes for granted.

2. The system starts rewarding need over achievement: the more capable you are, the more you’re expected to sacrifice for those who aren’t.

3. Success gets treated like a debt – taxed, regulated, resented – until the most capable start asking why they bother trying at all.

4. One by one, led by a man named John Galt, they simply withdraw – walking away rather than keep propping up a system that punishes them for producing.

5. Without them, the whole structure collapses, revealing that the “automatic” prosperity everyone assumed was actually being generated by specific, irreplaceable people.

6. Atlas is the Titan from Greek myth, condemned to carry the sky on his shoulders forever – Rand’s stand-in for the producer class, holding up civilization while getting blamed for it.

7. “Shrugged” is the whole argument in one word: Atlas doesn’t fight, doesn’t protest – he just quietly sets the weight down. Nobody realized the sky was being held up by anyone in particular, until the day it isn’t.
You don’t want us? We just go…🤷🏻‍♂️

[Simon Badenoch @SimonBadenoch]

@StefanMolyneux Time value of money or time preference if you will.
So it depends on what you value your time at and whether it is worth more or less than the additional fuel.

[Vivek Sen @Vivek4real_]

MILTON FRIEDMAN:

"CONSUMERS DON’T PRODUCE INFLATION."

"PRODUCERS DON’T PRODUCE INFLATION.

"INFLATION IS PRODUCED ONLY BY TOO MUCH GOVERNMENT SPENDING AND TOO MUCH GOVERNMENT CREATION OF MONEY, AND NOTHING ELSE."

[Rob Moore @robprogressive]

Just 8 million people fund the entire UK

Of the 70 million residents, 40 million pay zero tax

Even among the 30 million taxpayers, only 8 million are true net contributors

Meanwhile, the state keeps driving mass immigration, bringing in more people who take out more than they put in

Make this make sense

[Simon Badenoch @SimonBadenoch]

@SkullSpeedDeal Looks like a room full of Karens and Cucks.

[Wal @wally_waldo83]

This jobs number needs context. You can create jobs by growing the productive economy, or you can create jobs by keeping the housing ponzi alive with record migration, bigger government, more regulation and a larger compliance industry to manage it all.

More people means more demand. More rules means more administrators. More bureaucracy means more public sector and private sector jobs servicing the bureaucracy, but that doesn’t automatically mean Australians are better off.

If jobs are rising while GDP per capita, housing affordability, productivity and real disposable income go backwards, it’s not an economic miracle, it’s population growth and bureaucracy dressed up as prosperity.

[Robin Dods @toy59496]

Minister for No Housing celebrates Idiocy on CGT

https://t.co/kTNBCUPbrz

So this waste of carbon is celebrating changes that are going to make it even more difficult to build and own additional housing.

How do I know? Because I do it.

I have a 70 unit complex ready to go. I'm not doing it because the red tape is too much having to go through the court system to get around an incompetent council, then there's the building costs which are sky high, then there is the financing costs which are increasing asymptotically with inflation because our government can't stop the social spend, so the only answer is to wait until property prices increase to the point where it becomes viable.

So what does the cabinet of Albozo in the government do?

It kills the investment market so that property prices drop, so the margin between build cost and sale price becomes even more negative. And look don't trust me read the government's own report from 2024, and I can tell you that it is much worse now, much much worse...

https://t.co/Wz3bSBWoxi

It's beautiful own goal. And yet you laugh MP for Idiocy, laugh at your stupendous stupidity...

The only people that may possibly win are the internationals or the industry super funds who can borrow without penalty and do not have the same pernicious capital gain tax, and can import a lot of prefab so they don't need to pay confiscatory rates to union associated building, who sit around having coffee.

So, yes, the only people not screwed are foreigners who pay no capital gains tax at all and can leverage up as much as they want, and Labor's buddies at the industry super funds (not pointing elbows at you Wayne Swan at CBUS).

Now I think for some people it will be wonderful that prices will come down, and for a small window they will be able to buy a property more cheaply than they have previously. But then what? Productivity is not growing, it's negative, quality of living is negative, investors are either leaving or avoiding investing locally, the value of your home is simply a marker of the strength of the economy.

And because of the government's inability to stop spending other people's money, your mortgage will increase as inflation will increase, and we already see core inflation going upwards, which means your interest payments will increase as well, which will cause you duress. So you're screwed. Screwed paying increasing interest on a mortgage for a descending in value asset with a mortgage that unlike the US has an all money clause so they can bankrupt you and take the bicycle away from your kids.

If you are renting you should expect a significant rental increase. Why? Because landlords are not in the business of subsidising your living despite the best attempts of the government for them to do so with high barriers to evict someone and minimal ability to regularly increase rent. The grim reality is that you were being subsidised by the government in your rental property because negative gearing allowed a 3% yield on rent to be sufficient. Not any more....

The negative gearing subsidy is now gone and I would expect your rent will go up at least 25% over the next year. Maybe more because people will want income now to average over there investment years rather than the confiscatory tax that will have to pay on the whole profit on just one year when they sell. So you're screwed. In fact you are seriously seriously screwed.

And then of course those of you that don't have enough to get a deposit can no longer put it in a personal name and invest on small capitalisation stocks because the effective tax rate on that can be 70% plus due to their volatility which has been explained many times in many posts including by myself. So you're screwed as well.

These guys wouldn't know a decent economic principle of it hit them in the face.

Meanwhile Clare, Minister for not building houses, you keep on laughing, laugh, laugh until we throw you out in 2 years...

[Senator Alex Antic @SenatorAntic]

Today I am asking the Senate to compel the Minister for Health to produce all documents explaining the increase in Australia’s mortality rate from January 2020 to December 2025, specifically covering:

• Health conditions linked to excess mortality
• Excess deaths not caused by COVID-19
• Any link between excess deaths and lockdowns / border closures
• Any link between excess deaths and COVID-19 vaccination rates.

The excess mortality rate has exploded in the last 5 years and Australians deserve to know why.

To hear more from me and stay up to date, signup to my email newsletter here:

https://t.co/rREvtJlMZK

[Simon Badenoch @SimonBadenoch]

@TaraBull Gross

[Daniel Priestley @DanielPriestley]

This “academic” doesn’t brilliantly debunk anything.

She is describing things that happened under feudalism (and colonialism and mercantilism abroad) - economic systems that predate capitalism.

Capitalism really kicks off as a formalised set of ideas in the late 1700s/early 1800s.

Capitalism was formalised in policy with the Limited Liabilities Company Act in 1855s.

The cornerstone ideas of capitalism are…
- market pricing
- ownership of property
- right to lawfully trade voluntarily (including your labour)
- increased competition leads to better quality and price
- anti-monopoly and anti-collusion are required to maintain competitive markets
- Limited liability contained within a venture giving rise to venture focused investment
- acceptance that the market produces winners and losers but the downside of losing is limited to the company.

Nothing within any doctrine of capitalism is about forcing people off land or forcing people to do anything. It’s built on voluntary trade, work and investment. Capitalism is about self sufficiency!

Indigenous tribal economic systems do not scale. They don’t scale economically - most modern humans wouldn’t survive a week. They don’t scale beyond a few hundred people living in a vastly resource rich natural environment. Because they don’t scale these tribes could be absolutely brutal to their neighbours too. There are still tribal societies living today, she should go and live with them for a year and see how realistic their economic model would be for a planet with 8Billion people.

Capitalism is not unnatural … it’s the ONLY economic system that has been able to harness human self interest and channel it into pro-social, peaceful trade at scale.

The only thing being “brilliantly debunked” in this video is the value of university degrees.

[Satoshi Wolf @SatoshiWolf]

3 yrs ago it was clear this was coming

It was a big part of why we left Australia

The math was easy

Australia was broke

Government had a spending problem with no plans on stopping

The have to get money from somewhere

That somewhere is more taxes from you

Until they are forcibly removed this will continue

[Simon Badenoch @SimonBadenoch]

@NoelWhittaker All foreseeable and predictable to anyone not living in a fairy land.

[Simon Badenoch @SimonBadenoch]

@rationalaussie Good, tear it down!
Gonna be fun to watch.

[‘it’s a supply issue’ @nascentjude]

1M foreign students = 1:28 people in country

The students are then remitting +$10Bn p.a overseas, then raiding food banks while Aussies eat from tents

Aussies wear the social cost as well with higher rents + funding water, wastewater & mass transit infrastructure

It’s absurd