Five more people dead - and once again the venue was Picton road !
This vital linking of Wollongong and western Sydney has become a deadly mix of cars and heavy trucks - and twenty-one people have died in accidents there since 2000.
Two things need dong. Picton road needs an upgrade to become a divided highway - and the Maldon Dombarton rail link needs to be completed to take freight off the road and decrease the movement of heavy trucks.
Once again we have another enquiry into the economics of Maldon Dombarton, but even if this gives a positive return there is no sign of political will to get work started, and a little money has been granted for minor improvements to Picton road - but once again this is just tinkering around the edges.
The real problem is Wollongong politics !
Wollongong is a safe Labor seat haven, and while it remains that way and there is a Labor government in power the money will be spent elsewhere - where vital votes can be bought in marginal seats.
We look like being on the verge of a coming change of government, but unfortunately that will not solve our problems.
Why would an incoming Liberal government spend money in a safe Labor seat area ?
Damned if we do - and damned if we don't !
Monday, 7 December 2009
Sunday, 6 December 2009
A voting enigma !
Yesterday's two by-elections did not follow the course predicted by the pundits. There was not a sharp swing against the Liberal party, despite the leadership change and the controversy over the ETS.
Both were relatively safe Liberal seats. Sydney's Bradfield had been held by former leader Brendan Nelson with a 13% margin, and Melbourne's Higgins by former treasurer Peter Costello by a more modest 7%.
Labor did not field candidates and so the opposing option was left to the Greens. These by-elections should have seen them in their element as climate change is their prime concern and reason to be in politics. They increased their vote, but only by a modest margin and nowhere near the swing predicted.
Then there was the reaction of women to Tony Abbot's Catholic beliefs. He has stated opposition to " no fault " divorce and there are indications that he is less than supportive of extending women's rights. Once again, the predicted backlash simply did not happen.
The conclusion seems to be that voters are keeping their powder dry and adopting a " wait and see " attitude. They are not rushing to make a judgement and will let events unfold.
The biggest surprise is on the question of the ETS. Many people have doubts now and are prepared to consider both sides of the argument. Science and emotion are in conflict and the voters need to sort that out before we implement change that could be disastrous to the Australian economy.
One thing is fast becoming certain. The decision on global warming - and it's cause and possible solution - will require more than just hysterical claims before people finally make up their minds.
Both were relatively safe Liberal seats. Sydney's Bradfield had been held by former leader Brendan Nelson with a 13% margin, and Melbourne's Higgins by former treasurer Peter Costello by a more modest 7%.
Labor did not field candidates and so the opposing option was left to the Greens. These by-elections should have seen them in their element as climate change is their prime concern and reason to be in politics. They increased their vote, but only by a modest margin and nowhere near the swing predicted.
Then there was the reaction of women to Tony Abbot's Catholic beliefs. He has stated opposition to " no fault " divorce and there are indications that he is less than supportive of extending women's rights. Once again, the predicted backlash simply did not happen.
The conclusion seems to be that voters are keeping their powder dry and adopting a " wait and see " attitude. They are not rushing to make a judgement and will let events unfold.
The biggest surprise is on the question of the ETS. Many people have doubts now and are prepared to consider both sides of the argument. Science and emotion are in conflict and the voters need to sort that out before we implement change that could be disastrous to the Australian economy.
One thing is fast becoming certain. The decision on global warming - and it's cause and possible solution - will require more than just hysterical claims before people finally make up their minds.
Saturday, 5 December 2009
Mega financial institutions.
Some will lament- and some will cheer at the news that the merger between the IMB and the Illawarra Credit Union is - off ! Incompatibility between their chosen IT systems has been cited as the cause.
Some subscribe to the " bigger is safer " credo and in that respect it is certainly true that smaller institutions are vulnerable to takeover by the sharks, but then these monolithic mega institutions are cold, formal and so lacking in empathy that dealing with them is a misery.
Take the banks for an example. Decades ago there were about a dozen banks competing for our business and this striving for customers was the golden age of " personal service ".
Mergers reduced the numbers - and then the governments - both Federal and state - got out of the banking business - and now we are reduced to just four behemoths.
A new golden age started to appear when a plethora of non-bank mortgage houses appeared and began to compete with " the big four " in both rates offered and individual terms. The disaster of the recession of over a year ago saw them starved of funds - and swallowed by the rapacious banking giants.
It is a comfort that here in the Illawarra we still have two medium sized mortgage lenders who are prepared to sit down and talk to those needing a loan without the coldness of a rigid lending structure.
It lends credence to those who still think " small is beautiful " !
Some subscribe to the " bigger is safer " credo and in that respect it is certainly true that smaller institutions are vulnerable to takeover by the sharks, but then these monolithic mega institutions are cold, formal and so lacking in empathy that dealing with them is a misery.
Take the banks for an example. Decades ago there were about a dozen banks competing for our business and this striving for customers was the golden age of " personal service ".
Mergers reduced the numbers - and then the governments - both Federal and state - got out of the banking business - and now we are reduced to just four behemoths.
A new golden age started to appear when a plethora of non-bank mortgage houses appeared and began to compete with " the big four " in both rates offered and individual terms. The disaster of the recession of over a year ago saw them starved of funds - and swallowed by the rapacious banking giants.
It is a comfort that here in the Illawarra we still have two medium sized mortgage lenders who are prepared to sit down and talk to those needing a loan without the coldness of a rigid lending structure.
It lends credence to those who still think " small is beautiful " !
Friday, 4 December 2009
The power behind the throne !
Yesterday saw a change of leadership in New South Wales - or did it ?
Nathan Rees was voted out of the premiership and replaced by Kristina Keneally, but the real power in this state rests in the hands of two powerful faction chiefs who control every aspect of government policy.
Eddie Obeid and Joe Tripodi head the two factions that make up the Labor party. Who sits in the premier's chair - in fact who gets a seat in the state parliament - is at the discretion of these two men.
Nathan Rees bucked the dictates of Joe Tripodi - and paid the price. He sacked Tripodi from the ministry and within days faced a spill motion - which he lost 43-25.
The rank and file followed the royal edict - and Kristina Keneally got the job with a 47-21 margin.
The power of these two faction lords is immense. They control the money spigot that can be used to " stack branches " with voting members to bring about the results the factions desire, and because they control the preselection of sitting members they can influence the results they desire.
It all boils down to money. A political party lives or dies by the donations it receives to fund elections - and getting re-elected. The faction bosses can deliver results because they control votes - and that's a good reason for those seeking a result to be generous when making political donations.
Kristina Keneally will have the glory of wearing the premier's mantle, but she will be very aware that her hold on power in tenuous - and in the hands of the two Labor power brokers.
She should also be aware of names such as Joan Kirner and Carmen Lawrence. The ALP has a past history of appointing women to the top position of regimes in their last, desperate days - only to see them fail at the ballot box.
At least there seems an exception to that rule - in the form of Anna Bligh in Queensland.
It will depend if the faction bosses give her room to move !
Nathan Rees was voted out of the premiership and replaced by Kristina Keneally, but the real power in this state rests in the hands of two powerful faction chiefs who control every aspect of government policy.
Eddie Obeid and Joe Tripodi head the two factions that make up the Labor party. Who sits in the premier's chair - in fact who gets a seat in the state parliament - is at the discretion of these two men.
Nathan Rees bucked the dictates of Joe Tripodi - and paid the price. He sacked Tripodi from the ministry and within days faced a spill motion - which he lost 43-25.
The rank and file followed the royal edict - and Kristina Keneally got the job with a 47-21 margin.
The power of these two faction lords is immense. They control the money spigot that can be used to " stack branches " with voting members to bring about the results the factions desire, and because they control the preselection of sitting members they can influence the results they desire.
It all boils down to money. A political party lives or dies by the donations it receives to fund elections - and getting re-elected. The faction bosses can deliver results because they control votes - and that's a good reason for those seeking a result to be generous when making political donations.
Kristina Keneally will have the glory of wearing the premier's mantle, but she will be very aware that her hold on power in tenuous - and in the hands of the two Labor power brokers.
She should also be aware of names such as Joan Kirner and Carmen Lawrence. The ALP has a past history of appointing women to the top position of regimes in their last, desperate days - only to see them fail at the ballot box.
At least there seems an exception to that rule - in the form of Anna Bligh in Queensland.
It will depend if the faction bosses give her room to move !
Thursday, 3 December 2009
No lose legislation.
What a weird world we live in !
An enquiry is under way into gambling with the objective of creating new laws making it easier for those who lose to get " better legal redress " in seeking compensation from gaming venues.
It seems nobody is complaining when they win - but the losers demand their money back !
This goes against the whole concept of gambling.
Every form of gambling - from playing a poker machine to buying on the share market - is a calculated risk. There is a chance that lady luck will look the other way and we will lose money - but there is also the chance that lady luck may smile - and we will make a motza.
If we over indulge in risk taking we have only ourselves to blame !
There is merit in reducing the legal amount that can be gambled in a single instance to reduce the temptation on problem gamblers, but we interfere with the principle of gambling at our peril.
All forms of gambling are weighed with the odds favouring the house. If we gamble consistently - we lose. The law of averages takes care of that.
The only reason we gamble is because chance exists that for a small outlay we will get extremely lucky and receive a rich reward.
Once that principle is overturned legal forms of gambling will wilt and die - and be replaced by illegality conducted out of sight - and then the odds will be really stacked against the gambler !
An enquiry is under way into gambling with the objective of creating new laws making it easier for those who lose to get " better legal redress " in seeking compensation from gaming venues.
It seems nobody is complaining when they win - but the losers demand their money back !
This goes against the whole concept of gambling.
Every form of gambling - from playing a poker machine to buying on the share market - is a calculated risk. There is a chance that lady luck will look the other way and we will lose money - but there is also the chance that lady luck may smile - and we will make a motza.
If we over indulge in risk taking we have only ourselves to blame !
There is merit in reducing the legal amount that can be gambled in a single instance to reduce the temptation on problem gamblers, but we interfere with the principle of gambling at our peril.
All forms of gambling are weighed with the odds favouring the house. If we gamble consistently - we lose. The law of averages takes care of that.
The only reason we gamble is because chance exists that for a small outlay we will get extremely lucky and receive a rich reward.
Once that principle is overturned legal forms of gambling will wilt and die - and be replaced by illegality conducted out of sight - and then the odds will be really stacked against the gambler !
Wednesday, 2 December 2009
" Funny " money !
Yesterday the Reserve bank hiked interest rates by 25 basic points to $ 3.75%. Within minutes Westpac announced it would hike mortgage interest rates by 45 basic points, nearly double this official rate. Similar action by the other banks seems inevitable.
The average person has a problem understanding interest rates. All they know is that when rates rise they have to increase their monthly payments on their house mortgage. Because of the recession, rates have been at an all time low during the past twelve months.
To put it simply, interest rates are the thing that controls the money supply.
Our present home mortgage was possible because we tapped into yesterdays money supply. New money is needed to service the demand for mortgages and other loans that will be required today - and on the world stage this country's interest rate regime determines if we get our share from the world money pool.
But - this is a two way street ! The people who have money to invest need to get a decent return. A lot of investment money comes from superannuation and savings and the owners need that income for day to day living. Low interest rates have forced many self funded retirees onto the old age pension.
The money the banks are offering on loans is money they have borrowed - and they claim the cost of borrowing is rising and they need more than that .25 basic points to keep the money flow viable. Of course, what is not stated is that they intend to maintain their profit margin - and increase it if possible.
In some countries interest rates are pegged by government decree. In Australia, market forces prevail - within the basic underlying structure set by the Reserve bank.
What you pay for the money you borrow will be determined by the deal you negotiate with the lender - and those that take the trouble to do their homework will find that it pays a dividend.
The average person has a problem understanding interest rates. All they know is that when rates rise they have to increase their monthly payments on their house mortgage. Because of the recession, rates have been at an all time low during the past twelve months.
To put it simply, interest rates are the thing that controls the money supply.
Our present home mortgage was possible because we tapped into yesterdays money supply. New money is needed to service the demand for mortgages and other loans that will be required today - and on the world stage this country's interest rate regime determines if we get our share from the world money pool.
But - this is a two way street ! The people who have money to invest need to get a decent return. A lot of investment money comes from superannuation and savings and the owners need that income for day to day living. Low interest rates have forced many self funded retirees onto the old age pension.
The money the banks are offering on loans is money they have borrowed - and they claim the cost of borrowing is rising and they need more than that .25 basic points to keep the money flow viable. Of course, what is not stated is that they intend to maintain their profit margin - and increase it if possible.
In some countries interest rates are pegged by government decree. In Australia, market forces prevail - within the basic underlying structure set by the Reserve bank.
What you pay for the money you borrow will be determined by the deal you negotiate with the lender - and those that take the trouble to do their homework will find that it pays a dividend.
Tuesday, 1 December 2009
The curse of leadership.
Before the sun sets on this Tuesday in December the leadership of the Liberal party will have experienced change. The scene is set for a spill - and the likely contest will be between present leader, Malcolm Turnbull and leadership pretender Tony Abbott - and heir apparent Joe Hockey.
At the same time New South Wales premier Nathan Rees will be looking over his shoulder as his party plots to replace him with either Frank Sartor or treasurer Eric Roozendaal. Lurking in the background are the " danger people ", John Della Bosca and Planning minister Kristina Keneally.
The Liberal party gives as it's reason for leadership change a sharp difference of opinion on the proposed Emissions Trading Scheme ( ETS ), but in reality both Liberal and state Labor unrest over leadership boils down to a single factor - the inability of the present leaders to attract the voters.
Both have low approval ratings and neither give their party confidence that they are heading for a win at the next election.
The game of " musical chairs " will continue in both houses of parliament until a person emerges with that magical charisma to which the voters flock.
Leadership challenges only become a thing of the past when the person leading the party is seen as a clear " election winner " !
At the same time New South Wales premier Nathan Rees will be looking over his shoulder as his party plots to replace him with either Frank Sartor or treasurer Eric Roozendaal. Lurking in the background are the " danger people ", John Della Bosca and Planning minister Kristina Keneally.
The Liberal party gives as it's reason for leadership change a sharp difference of opinion on the proposed Emissions Trading Scheme ( ETS ), but in reality both Liberal and state Labor unrest over leadership boils down to a single factor - the inability of the present leaders to attract the voters.
Both have low approval ratings and neither give their party confidence that they are heading for a win at the next election.
The game of " musical chairs " will continue in both houses of parliament until a person emerges with that magical charisma to which the voters flock.
Leadership challenges only become a thing of the past when the person leading the party is seen as a clear " election winner " !
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