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EYE-BALL Opinion – A downside of Democracy – and the ease in which past Leaders move on –

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Title:
– A downside of Democracy –
– and The ease in which past Leaders move on –
| Author: EYE-BALL Opinion | 19th Mar 2013 |
The Cyprus Government is considering a 10% levy on all bank deposits to help bail out the Governments financial position.  Markers all around the world have paused in response – the questions on everybody’s lips is – ‘could it really happen’?

Cyprus Banks are facing collapse on the rumours as depositors strip funds from their accounts in anticipation.   All the focus is on the deal at hand, not on the reasons what the Cyprus Treasury is bankrupt.

Desperate Governments do desperate things to survive … and not always in the best interests of the people they govern – something we all understand yet forgive and forget as change of governments happen.

Imagine this Australian Government, or any future Government passing laws to tap into your superannuation funds – i.e. an immediate 10% levy across all individual superannuation accounts, or a levy as Cyprus has done on all Bank accounts, credit accounts, and/or a 10% levy against your debt accounts.  Never happen you might say …  why not?

It is a form of taxation and the Government can do what it likes as long as it controls both Houses of Government – in a democracy.

Well let yourself be informed – Governments have been introducing these type of taxes and levies for centuries, it has been disguised in the many different forms and shades of taxation a Government uses.

The truth is Government’s have collected revenues in ever increasing ways, and across all levels of Government, Local, State, and Federal that are similar to the tax being considered in Cyprus … what do you think the GST was … a 10% levy on everything you spent with a few lobbied for exceptions.

The Cyprus deal as a ‘savings tax’, and designed for people to spend rather than save as well as flood the Treasury coffers … This type of taxation has origins that go back a very long time.

Democracy does not appoint accountability, nor live by true accountability.  Electorates respond to poor Government and effect Leadership changes, and that is the only accountability applied.  But at what cost?

The mistakes of previous Leaders and the legacy’s the leave behind become the new Governments problem to live with, embrace, and try to fix, often imposing the solution through new taxes and reductions in spending impacting on the very voters who kicked out the previous Government.   So in essence – the people pay the cost no matter what happens …

The Democracy legacy is always ongoing, defining, and it is a global issue often with cross-border implications – i.e. debt forgiveness in the many bail-out packages gone horribly wrong …

The GFC was born and nurtured by the legacy’s of the past 40 years of Democracy style Government’s across the Western World.   All defining themselves with re-election policies that were based on spending and promise’s to win the hearts and souls of voters.   Power at any cost and aligned with common war slogans like – ‘win at any cost’.  The thought always being that we’ll deal with the consequences later – forever pushing accountability in front of the reality …

Democracy would always move on under the auspices of elections and freedoms, yet the debt owed, and the rotten policies infused into legislation would remain.

Likewise – those from past Leaderships move on, never having to face personal accountability for their mistakes, never in fear of losing everything, never having to deal with the concerns in how their mistakes will be accounted for, nor the impact it has on future generations.

If any price is paid – it is the media coverage of the political backlash that has no real accountability.   That represents words, noise, and nothing tangible nor personal.

Where is the real accountability when lives have been lost in political Wars fought in far off lands, livelihoods and families damaged and forever altered.  It is wrong to allow Government unfetted power and access to public funding, to decisions that will cost lives … particularly when none of those making the decision have real skin in the game, and nothing of real worth to lose …

Back to the Cyprus crisis,  the P.I’s.G.S. [Portugal, Italy, Ireland, Iceland, Greece and Spain],  are also in the same boat as Cyprus … the EuroZone over the next few months will once again impact on Global markets … and just as the DJIA is surging to new highs, and the economic indicators coming out of the USA have appeared to have turned a corner.

More importantly, the consumer confidence out of the USA appears to have turned as well.   The globe remains in a fragile financial state and another setback will crush any prospect of recovery …

What do you do when a member Nation threatens every other Nations survival … Cyprus is a minnow, but to the people living in Cyprus their plight is now dependent on whether the Euro survival line remains open, or is shut down.

But who put Cyprus in this position, who was responsible and what can be done to make those accountable pay … those responsable are long gone, or dead … and just as Gillard will move on and leave a $300 billion debt, and with a personal $300k annual pension package, with another $1.5 million expense account granted to all former PM’s … the rest of Australia will fund her retirement … and have to deal with the $300 billion debt legacy.

It is all to easy to escape the legacy’s left behind and that is the problem that needs to be addressed.  You can’t retrospectively go back and change things – the change needs to be in not allowing Governments to make the decisions in the first place.

The very essence of good Government is financial management and not to impose the spending designs on taxpayers.  Gillard and her Government have no conception of sound financial management and we are potentially headed toward a Cyprus like happening when our mining sector collapses as alternative markets come on-line.

As an alternative – debt growth needs to be capped at an increased measure against say – GDP growth – i.e. no new Government can increase debt as a percentage of GDP by say more than 5% in any term without going to the people.   This places new policy funding back on the Opposition or Government to finds ways to fund the policy changes and new initiatives without creating new debt.  It is not just that simple though – Governments will just increase taxes to create the revenue … no!

Governments have to become responsible and accountable in every way,  if they want autonomy to run the Nation they have to prove they are capable of doing so.   The process of elections has become a cae of ‘who lies best’ – ‘who sells negativity best’ – ‘who the media like and dislike’ … nobody realy looks at the credentials to Govern … not the candidates who will be handed the trust of the Nation and whetehr they are capable beyond the Leader and a few hand picked media savvy profile MP’s.

There are so many broken promises in modern day politics and politicians are allowed to walk away from their pledges … this has to changed and Governments made accountable in real-time for their policy breaches – i.e. any major policy reversal must be approved by the people before it can go to legislation …

The accountability problem will continue for as long as the people remain apathetic.  Across Europe and Nth Africa, the people are becoming engaged over poor Government … how long before it happens elsewhere …


The EYE-BALL Opinion plea for action:

Gillard’s Government is poison to this Nation … how do we get rid of her now?

The message has to be sent – there are some 14 million registered voters represented by 150 MP’s – 72 of which are ALP.    If each of these 72 ALP MP’s received an e-mail, a fax, a phone call, or a letter from all the people who want her gone with a simple message like the one below –  :

This is a protest message …
GET RID OF GILLARD

… do you think it might motivate caucus …

Please – send this message to as many and as often as you can – bombard the Caucus Members with a message so clear and with weight of numbers that it will force them to act.

You could also think about sending it to the Independents, Oakeshott, Windsor, Wilkie, and Brandt,  as well … Katter already votes with the Coalition, and Slipper and Thompson are a lost cause and their fate already sealed.

Links to every MP e-mail can be found using the Australian Parliamentary Website Members and Senator links below … pick your an ALP MP or Senator, or send it to all – voice your opinion now.

Please – if you found this story to your liking and would like to promote it to your social media contacts – i.e. Twitter, Facebook, or other icon linked account below – please use/click on your favoured Icon(s) to promote the story.  Thankyou.


Have your say where it counts: – contact your Local Federal Representative via the links below and let them know how you feel about this, or any other topic that you feel strongly about – or you can just post a comment below and let off some steam.

Links to Australian Parliamentary Website – MP’s


The EYE-BALL Opinion …

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  1. March 19, 2013 at 12:50 pm

    This has happened before.

    In Australia twice in the 1890’s The Commercial Bank Of Australia closed it’s doors, and twice when they re -opened, existing depositors were sub-ordinated to fresh deposits required to meet obligations as they fell due. Their deposits became subordinated debt.

    During the Great Depression, when three major banking groups were either technically insolvent, including the State Bank of NSW, they were merged and folded into the Commonwealth Savings Bank (now Commonwealth Bank).

    This goes to the very heart of too big to fail.

    No one has the answers. Should the Royal Bank of Scotland been allowed to close it’s doors? Or Bankia? Or SBC? or Lehman? or Shearson? As I have no involvement with those institutions. But hey what say, the domino effect ultimately affects me? Well hang on!

    The bailouts of AIG and so on, were never OK. Not matter what the outcome, innocents will be hurt, so is there any better way?

    Our government could pass any law to affect one apparent socio economic group, and that explains Madrid, and Athens today. Why should the Spanish economy be crippled with 20%+ unemployment.

    The only thing for certain is it will take years to work through this, and there will be further shocks, and higher risk premiums.

    This is why our government deficit is just so frightening. Could they support a major hit on our Australian banking system?

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