Migrated from [email protected], which now appears to be dead. Sadly lost my comment history in the process. Let’s start fresh.

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  • 81 Comments
Joined 5 months ago
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Cake day: June 24th, 2024

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  • I’d say the entire Abbott/Turnbull/Morrison trifecta was terrible.

    Abbott was definitely out of his depth as PM, he never stopped being the leader of the opposition and was always pugilistic, impulsive and didn’t think things through. He promised stable leadership but didn’t have his party under enough control to ensure it - probably because he sort of skated into the role because those who the party actually wanted didn’t make it. He got into power on the back of a campaign focused on debt and deficit, but had no policies to address it and I don’t think he ever intended to. He played his pet issues but was aggressively ineffective at everything else.

    Turnbull was a devastating disappointment. Hated by his own party, only used as a more popular and sensible replacement for the ousted Abbott, but never having any party backing for his agenda. I’d say he flamed out, but he was never even on fire. Reneged on his promises and ambitions for fear of reprisals from his party - a spineless creature whose years in power were an absolute waste and a net loss for the country.

    And then of course Morrison. A sociopath who bradbury’d into the role because enough people in the party room had the self-awareness to realise Dutton as party leader would be a disaster. Obviously Morrison schemed his way through that entire leadership crisis and lied whenever he opened his mouth, not least when professing his support for the embattled Turnbull. He was probably the most useless PM, out of the country in times of crisis and actively refusing to show leadership. Not to mention the shameful mishandling of the pandemic.

    Collectively these three set back social, economic and political development in this country back by at least a decade. We’re all worse off thanks to the nine years of having these three clowns in power.










  • I don’t necessarily have a problem with it being an interest-free loan, if it serves to keep a business over water and saves jobs. To me that’s an appropriate use of taxpayer funds. I’m all for taxpayer subsidies if they are balance-positive to the taxpayer, i.e. jobs are preserved and the subsidies result in meaningful economic activity.

    What’s bad is when otherwise profitable businesses use threats of job cuts and closures to obtain taxpayer bailouts so they can keep paying big bonuses and shareholder dividends. A lot of that happened through COVID, and the taxpayer threw billions at big business for very little in return. So maybe restrictions on layoffs and such would need to be written into a system like that. The punitive aspects need to incentivise the intended behaviour and strongly disincentivise the wrong behaviour.



  • Big corporations begging taxpayer bailouts and then using them on bonuses and dividends. It’s a humongous waste of money that does nothing but enrich the wealthy. Most of the time it doesn’t even save jobs.

    If, as a large corporate, you want a bailout from the taxpayer, then the government/state will take a portion of your shares in escrow, equivalent in value to the amount of money you’re asking for or getting. Those shares (in case of publicly traded companies) are withdrawn from the stock market, become non-voting shares and are frozen at their price at that time. Within a to-be-determined time period (five years maybe) the corporation, if it gets profitable again, can buy back all or part of the shares from the government at that price per share - thus returning money to the taxpayer. Anything that’s left after five years, the government can do with as it sees fit - sell them at market price (thus recovering the spent money), or keep them use them to vote/control the company.

    There probably is a lot wrong with this proposal. But something needs to be done to discourage big business from hoovering up taxpayer money like it’s going out of fashion. Most of the time the taxpayer is getting absolutely no value from that spend.