Home > Politics - Domestic, Politics - International, The EYE-BALL Herman O'HERMITAGE, The EYE-BALL PoliticalZone > EYE-BALL’s Herman on – Democrazy Part XII, Materialism Part V and Death and Taxes Part VI – Pride and Anger

EYE-BALL’s Herman on – Democrazy Part XII, Materialism Part V and Death and Taxes Part VI – Pride and Anger

November 5, 2011
Herman O'Hermitage
Democrazy Part XII, Materialism Part V and Death and Taxes Part VI – Pride and Anger.
By: Herman O’Hermitage
Herman O'HermitageDemocracy is merely an ideology. Believing in sanity is insanity itself. Last night (3/11/2011) the ABC television reported our PM had said “now is not the time for democracy”. [Context – see story here.]Meanwhile in Canberra, Labor Senator Alan Cameron warns regarding the Murdoch press – [see article here.]

Friday I attended a presentation by P. N. (Raja) Junankar on his OECD presentation titled “The Global Economic Crisis: Long term unemployment in the OECD” -[Link to PDF file on this topic.]

We have protests where Occupy Wall St and all of their brethren in Sydney, Brisbane, Melbourne, London or any other seat of western democracy carry placards – “we are the 99%”. The Westpac Bank reports annualised profits of $6.99 billion. The ANZ reports $5.6 billion. The four Australian pillars collectively announce profits of $24 billion. A month ago BHP reports an annualised after tax profit of $22 billion. What is the share of GDP of the 99%?

Do we really aspire to Government of the people, for the people, by the people, particularly when our PM is alleged to have said about the Greek Sovereign Debt Crisis, Now is not the time for Democracy!!!

Why should we believe in a democratic Iraq? Why should we believe in training the Afghan civil forces in democracy when they kill and maim us their teachers?  Why should we believe in a democratic Pakistan or Indonesia, when our PM is reportedly said – “Now is not the time for Democracy”.

Very importantly, when and where did Julia Gillard say this. Get the evidence. Show the proof. If she did not say it, then who evilly attempted to have the story reported.

We are all in our own way disaffected. We don’t understand the need for a Carbon Tax. We don’t all concur with mandatory pre-commitment. Some don’t want gay marriage and others don’t want safe injecting rooms. There are too many issues. In the middle is the mix.

We have pride. Very importantly it is not OK to whinge. People don’t want to listen. They have their own issues to deal with.

P. N. (Raja) Junankar has given the OECD a paper on econometric modelling (regression analysis) based on survey data compiled by ABS (not Centrelink).  Long term unemployed is defined as 12 months continuously unemployed. If you are on disability pension do you claim in survey to be long term unemployed.

If you are receiving benefits on “work for the dole logics” – do you respond as working or not working? The bias in what is commonly referred to as participation factor is obvious. The tough part is such logics are used to measure social dis-cohesion. What we need to survey is actual under employed.

What is the surplus capacity in employment. In this current recession those governments forced to bail out their banking sectors (USA – Lehman, AIG, GMAC, Fannie Mae, Freddie Mac and so on and UK – HBOS and the Rock) spent the least on economic stimulus by way of protecting jobs. They also have the highest % of long term unemployed. Post 1991 it took 11.5 years for long term unemployed to revert to close to pre 1991 levels.

In 1991 Australia and Canada were the worst affected. In Australia we had a host of failed entrepreneurs like Bond, Spalvins, Skase, Goward and co and in Canada they had the Bronfmans (Trizec and Olympia & York). In Australia ANZ and Westpac needed fresh capital. Both had massive rights issues in 1992.

Long Term Unemployed is not only a wasted but wasting resource. (P. N. Junankar) Long term unemployed draw resources and are less employable for many reasons. Skills out of date, depression/disaffected etc.

Now is the time for democracy.   Greece might be peculiar in every way. Should Greece be self determined or must it toe the line set by Germany and France?  Will Greece see failures in both Belgium and France?  Will the contagion spread to Italy?

The excesses in one banking scenario (ANZ and Westpac) have no congruence to those who are now on the brink. Our Treasurer glibly says about the NAB not passing on the full rate cut this week, “go down the road to another bank”.

NAB still has the most competitive variable loan rate of the 4 Australia Majors. When our GDP growth is about 3%, why is it OK for ANZ to grow their profits by 18%. We must re regulate the banks. It must be made clear to the banks they can not gauge from the efforts of the collective. These same banks are now announcing job cuts. They have absolutely no concept of social or corporate responsibility.

This is connectedness. A butterfly flapping it wings in New York (Lehman) has caused a tsunami in Euro zone. The current crisis. Why are the Australian banks disconnected?


Herman …

Democrazy Part XXII, Materialism Part V and Death and Taxes Part VI – Pride and Anger

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