What's what?
“Sinophobia in Australia is also emerging in debates about housing investment, donations to political parties, university campus politics, the purchase of agricultural land for mining, as well as general concerns about Chinese government influence, geopolitics and human rights issues in China. Public debate is appropriate, but emerging hysteria and sensationalism are shifting into animosity towards people with Chinese heritage in Australia."
https://theconversation.com/asians-out-not-in-this-suburb-not-in-this-ap...
“China is our ninth largest foreign investor, with 2.0 per cent of the total. However, the levels of Hong Kong (SAR of China) and Chinese investment in Australia have grown significantly over the past decade.”
https://dfat.gov.au/trade/resources/investment-statistics/Pages/statisti...
Sweet Jesus, BB.
Are you 2 years old ? How can you possibly still be sucking on that “ criticism of foreign countries is racism “ dummy ?
Was the world racist of Deutschephobic when they were alarmed at the machinations of Germany in 1937 ?
Are you racist or Seppophobic for having concerns about the behaviour of the USA ?
Grow up , mate.
The reason I put up the link to Hamilton's bio was to indicate that the book was written by a moderate public intellectual and not someone who deals in "hysteria and sensationalism. It contributes to public debate.
Ironic that you mention the poor Chinese getting slated with racism as foreign nationals from China buy up to 30 percent of units in some areas of Australia, displacing the Australians.
But you never mention any of the racism that the Chinese display towards EVERY SINGLE person in the entire world who isn’t Chinese.
You think an Australian would experience any racism if they started buying over a quarter of all apartments in a Chinese suburb?
You’ll never know because China is truly and genuinely racist, unlike the false accusations that you level at everyone else , and it’s impossible to buy any real estate in China because you’re not Chinese and the Chinese are fucking unapologetically racist.
Crazy how much you’re willing to overlook when China is overtly and exponentially guilty of the crimes you charge to anyone else .
Why is that ?
If the roles were reversed, you’d be accusing me of being a paid Chinese government troll or a bot by now.
...................as does your post at 8.33 am
Seppophobic!
BB certainly there are concerns with the close links between Chinese business interests / Chinese government and what that means before you get to the political influence being bought / targeted pressure on Chinese nationals in Australia.
At the height of angst about Japan buying Australia back in the day there was little or none of the above.
Its not necessity that’s the mother of invention, it’s laziness.
Easier to make up a word than search for it.
Told it comes from the word septicemic
Well I'll be using it. Might even suggest it to whoever that dictionary mob are that champion the word of the year.
This year was 'toxic' apparently.
You’ve never experienced Seppophobia till you’ve spent 12 days couped up on a 54 ‘ boat with one .
( In proper Cali semi- retard drawl ) “ You know when you’re, like , so deep in the tube it’s, like , time just stops ? When the lips comin’ over and you ,like , see a bird in the sky and it’s like , hey bird , bet you wish you were in this tube ....”
Makes you empathise with Jack Nicholson in The Shining.
Just jokes....Seppos are good value.
Ahaha yes blowin, I came across an American chap on holidays once who, when you asked him the time it was “eight o clock, straight up!” Or twelve fourty five, straight up!”
Apart from that he was a really nice guy
So to go back to Saudi Arabia for a minute. It was not deflection Blowin. It was context. If China's behaviour in the South China area is so unacceptable when, to my knowledge, it has not resulted in a single death, why aren't you complaining about US assisting the Saudis in their genocidal war in Yemen? I think the latest figure is 85,000 children starved to death. That's not some obscure bit of history, that's happening now. No, that could have been easily prevented or the death toll greatly reduced had the wonderful sun-shining out their collective arse nation you so admire had the integrity to say "No" to that bunch of murdering bastards. So Blowin, South China Sea vs Yemen? If you can't see true fucking evil when it stares you in the face, not much point in further discussion.
Are you on the sauce , BB ?
I’ve never claimed the US were saints.
It’s you whose got the whitewash brush out and wants us to think that the Chinese are victims of racial slander , that we should ignore all of their malicious overtones and creeping threat because.....they’re polite.
Well ,not always ...https://www.smh.com.au/sport/olympic-torch-relay-thugs-blasted-20080424-...
The USA is a prick of a nation a lot of the time. But they’ve protected us and allowed our society to flourish . China wants us subjugated. But we shouldn’t feel particularly picked on , they want to subjugate everyone !
https://www.economist.com/leaders/2018/10/04/china-has-designs-on-europe...
https://www.washingtonpost.com/news/monkey-cage/wp/2018/10/16/african-co...
https://www.reuters.com/article/us-pacific-debt-china-insight/payment-du...
https://www.foreignaffairs.com/articles/china/2018-02-13/life-chinas-asia
“China is already following the strategies of previous regional hegemons. It is using economic coercion to bend other countries to its will. It is building up its military to ward off challengers. It is intervening in other countries’ domestic politics to get friendlier policies. And it is investing massively in educational and cultural programs to enhance its soft power. As Chinese power and ambition grow, such efforts will only increase. China’s neighbors must start debating how comfortable they are with this future, and what costs they are willing to pay to shape or forestall it.”
But they’re so polite !!!!
It's all relative Blowin. You believe China will threaten our democracy by espionage and soft power. I think we're already alert to that and they will have minimal success. You believe China is a threat to world peace, I don't. You are concerned about the potential threat from China. I am concerned about the actions of the US right now. And, small point of clarification, Chinese tourists have a reputation for their rudeness
H2O, thanks for the link. I will try to get hold of a copy!
' I came across an American chap on holidays once who, when you asked him the time it was “eight o clock, straight up!” Or twelve fourty five, straight up!”
Apart from that he was a really nice guy'
I met that 'guy'. He remembered you too. And well... anyway... yeh... aye... goofy...
In 2016 I meet too many fucking dumb-arsed Americans in Italy.
In Positano one tried to befriend me by commenting on his approval of the local police keeping terrorism at bay by wearing sub-machine guns over their shoulders. Fuck, here I was enjoying my espresso and watching the very delightful world drift by and the fucking yank wants to talk about terrorism. I asked him if he were joking, no sir I'm serious. Fuck you dumb-arse, so I politely asked him just how many people are killed each year by guns in his country, his town, his neighbourhood. Poor yank didn't like the tone of my question and sulked off.
Thought you were banned again ya big turd?
Aye... anyway, I stuck up for ya! No one else did!
Imagine reading the ludicrous emails... how fucking hilarious, and how embarrassing.
Imagine 'em coming up the cliff and speedin' into town... well, come to think of it...
'Well fucken' bloody 'ell officer youse shooda seen wot ee sed ta me aye... I'm a bloody fuck'n bloody legen' too... ask me fuck'n mummy!!!!'
Jesus youre cooked ya peanut
Elliston nut house come and get him
That's the way son... let it all out... get it out of your system... while ya can...
But you know you're still not ready. The left is the real world... son... but you know that. All the emails in the world won't help... and even if it was possible to get an even more humongous... an even more gigantic, more massively honed beaked craft... the bloody left will just...
Anyway, at the wake... I'll be there for you footy... you know that too. And when that yank 'guy'... well, when they're all laughing their fuckin' 'eads off, I wont laugh, I'll stick up for you son... again... And I'll make sure you're buried with that craft... (just save enough for the massively, humongously proportioned, steel reinforced coffin son, and the crane hire...)
I'll stick up for ya footy.
'OYE!!!! STOP YA FUCKIN LAUGHIN'!!!!'
'So what if 'ee got chucked through the fuckin' sky, and splattered onta the fuckin' limestone ya cunts... stop ya fu... aaahh fuck it...'
'AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAAAAAAAAAAAAAAAAAAAAAAAAAAAARRRRR!!!!'
emails? please explain
nahhh fuck it, don't bother
Meanwhile in Vicco, although it's a bit early to call, it seems the swing to the 'left' has swung.
Sounds pretty 'swell' to me.
From the liberal shadow Attorney General, "We did a lot of things right but obviously something has gone horribly wrong".
No I think something has gone incredibly right, the people shifted left.
(Just for blob)
It’s the Victorian population that’ll be swelling with an ALP Big Australia ponzilist at the helm.
Yea blowin it seems the population of Vic aren't 'that' concerned with their 'over' population.
Either that or they realise that the LNP have every intention of shoehorning the people in regardless so they went for the lesser of two evils.
Like choosing between a fresh canine turd or a seedy old barkers egg . Either way it’s a choice between dogshit and dogshit.
Victoria just showed the LNP reactionaries in Canberra what’s coming their way next May. Record swings. Baseball bats locked and loaded.
Every time you call them reactionaries you sound like Rick from the young ones.
I hate ‘em just as much as you do , so I’m telling you as a friend.
For your own good....desist.
No worries comrade .... translated into a federal election any Victorian LNP member on a margin of 8% or less is gone. Ha, all this talk of their “base” in Qld and NSW, the COALition will loose the next election in Victoria alone. Let a fresh round of infighting begin ....
Three articles in the SMH today alone trying to stem the tide of public opinion against cuts to immigration.
Fairfax’s most profitable arm and the only arm showing growth is their real estate section ( domain) . They don’t want the population Ponzi scheme to stop or else the property market will have to face reality and revert to becoming actual homes rather than a speculative market.
They should have to declare a vested interest with every article.
Reckon the ponzi is already broke when it comes to housing, locally so many investors are bailing and the interest only loan death trap doesn’t peak until this time next year so expect carnage with falls in the range of 20% or more by then.
Many people have mentioned the precarious state of the housing credit nation, and it's not a pretty picture.
"The Reserve Bank of Australia estimates that a total of $360 billion worth of interest-only loans will roll over to principal-plus-interest in the next three years — for the average borrower that means about $7,000 a year in extra repayments."
No wonder the Fed is holding interest rates low.
Almost 40% of all home credit in Australia is Interest Only.
Bursting not like a pin to a ballon, but more like a balloon being let down slowly, with varying pitch and duration.
Sure enough the Interest Only choice comes knocking at peoples doors.
And as the home loan balance doesn't budge, payments increase, at the same time people are seeing the value of their asset declining.
As the crowd chants "Shoulda sold 12 months ago".
From June this year:
https://www.google.com.au/amp/amp.abc.net.au/article/9886430
Yep, westof. The housing market is mighty shaky, or perhaps I should just say farked. I'm happy about that in the sense that my kids might actually be able to buy something in 5 years time or so, and more happy that all these 'smart' investors using negative gearing may just find themselves not making a cent or even losing money, couldn't happen to a nicer group of innumerates.
But I do feel for those who scraped it together to get a foothold in the market and may find themselves somewhere down the track with a mortgage that is quite a bit larger than the value of their house.
Interest only loans should have been heavily regulated, or better still, not allowed. They were either used by people playing tax avoidance games or by people who couldn't afford the loans they had to take out to buy a place, in other words people that should not have been given a loan in the first place.
There's a lot of downside on housing prices for the foreseeable future, and who would have guessed it, it has nothing to do with supply and demand for houses. It never did. It was always about the supply and demand for credit (loans) and the vested interests across the economy, banks, finance, insurance companies, real estate sector and as someone else pointed out, major media players like the SMH/AGE.
It's always been a rigged game. The fix is in.
The voices of the right fall silent as the message sinks in. The left is rising. From the mid-terms in the US, to the disarray of the UK Conservatives, to the swing to Labor in Victoria, it is increasingly clear that, across the anglophone west, people have seen through the shallow self-interest of the last decade of right wing propaganda and have suffered enough under their dysfunctional governance.
The trend to small government and deregulation is over. In Australia we need look no further than the Royal Commission into the banks to see how grossly those political and economic policies have failed the community. The influence of the arse end of the Coalition will be gone after the next Federal election. Reactionary ideologues like Abbott and Joyce may cling to their seats but they are so clearly out of touch with community values their voices will serve only to remind us of a their wilful ignorance and determined blindness to reality.
The right achieved power through an alliance between three groups; the wealthy, the conservative religious and the libertarians. To hold onto power, the wealthy had to allow the religious and the libertarians to control social policy while they got on with the financial and corporate deregulation that allowed them to loot public and private wealth. From banking and finance, to insurance, agriculture and retail, corporate parasitism was standard management practice.
It was never a sound way to govern and was always destined to fracture and fail as the interests of the various parties moved apart. Climate change is a good example of this. The serious money knows the truth and wants to move to a low carbon economy while the religious and libertarian ideologues cannot let go of their deeply held, and incredibly stupid, beliefs about the subject. Much the same could probably be said about numerous other environmental issues such as water management and even social issues like same-sex marriage.
The reality though is that undoing their policies will take time particularly in the US where Trump has not just governed badly but has set about destroying the normal function of government. He has paralysed essential bureaucracies by failing to fill leadership positions or by appointing leaders opposed to the basic concept of the department they are supposed to lead. In Australia the damage is less but still substantial. The environmental mismanagement and paternalistic and racist indigenous policies in particular have done great damage that cannot be easily reversed. But comrades the pendulum has swung, the unions will start to grow again, the nation's wealth will be more equally distributed and the reptiles of the right, looking back at the fate of their predecessors Skase and Bond, will hide in fear of the justice that is coming their way.
Nice summery BB as always, however the right will not go quietly they will continue the look over there BS while ripping off the lowest paid and attacking the conditions of any one to demand a fair go.
The right will continue to seek power spruking the con they represent the base, with dog whistle's to the dark shadows that linger on the fringes.
The right will continue the BS that the rise of the extreme right is because of the lefts cultural dominance which generally is main stream community driven.
Abbott and Co have long been a festering scab on the federal political landscape sucking on the public purse tit while disparaging those that follow common sense.
Is that last post analysis or wishful thinking blindboy?
Interesting how you guys keep throwing around this 'reactionary' word. Is it not the left that have become the 'reactionaries'?
Whilst this little loose desperate right conglomerate base you point out may well be shaky, very very shaky in fact, I think you totally underestimate the swinging voters (ie, those not particularly left, not particulary right) who are more so voting against what the left has to offer, rather than voting for what the right has to offer.
Whilst I agree the 'let her rip' small government thinking of the right has caused all sorts of problems, I reckon the last thing we need is more of the big government bureaucracy that the left seem to endear so much.
The system that has built up over decades is just too fucking unsustainable!
The left needs to proiritise it's priorities. And an economic plan beyond "don't trust the other guy" should be a large part of those priorities.
Don’t get too excited, BB.
The right still have the co-opted weight of unthinking, closeted socialism cheering on their machinations .
This means you !
And little tirades like this :
“But comrades the pendulum has swung, the unions will start to grow again, the nation's wealth will be more equally distributed and the reptiles of the right, looking back at the fate of their predecessors Skase and Bond, will hide in fear of the justice that is coming their way “
Tell me that you don’t know what you’re talking about. Your open borders / endless immigration / plebeian socialist wet dream is the main enemy of unions and workers in this country.
Don’t argue with Bernie .
" I reckon the last thing we need is more of the big government bureaucracy that the left seem to endear so much."
Sypkan you are so 70's, real life example and has been repeated before in this state (WA) Libs blow budget and build big government, Labor (happening now) reducing government and paying down debt.
You like so many sucked in by the look over there BS.
In terms of "small government" consider the privatisation of health services. The idea that private enterprise can do it more efficiently is thoroughly discredited. The new Northern Beaches Hospital is the perfect demonstration of profit ahead of purpose. You can be in desperate need of heart surgery with a vacant theatre, available doctors and everything they need (well maybe, but that's another issue) but unless you are in the right health fund they will transfer you to North Shore. The privateers have done well at our expense over recent decades but not for much longer!
Huh ?
But the state treasury and economists were previously saying that immigration was not a factor in rising house prices . Now this ...
Via the AFR:
“Immigration cuts planned by the Morrison and NSW governments will weaken house prices, according to analysis by the state government and economists.
Housing Prices and Migration Flows, a NSW Treasury document obtained by The Australian Financial Review, shows Sydney and national house prices would be lower than the forecast trajectory due to fewer migrants.
Under one scenario modelled, a temporary reduction in annual net overseas migration to Australia of 64,000 over five years would cause national house prices to be 7.8 per cent lower and NSW house prices to be 6.8 per cent weaker than a business-as-usual “baseline”.”
Strange how facts seem to alter with a change of political stance .
But we were told for years that foreign buyers weren’t pushing up house prices too and that charade has thankfully been dropped also.
How long before the rest of politics falls in behind the truth that unsustainably high immigration is the largest detrimental factor behind every issue of note in modern Australia ?
Water availability, declining wages and standards of living , liveability reductions in major centres , environmental pressures and on and on .
Too bad the politicians only respond to the threat of job loss to force them to cede to the truth. And they always take too long to get there.
Surely no thinking person still adheres to the Reagan line that 'government isn't the solution to the problem, government is the problem'.
The neoliberal experiment, best defined as govt by the corporates, for the corporates, has been shown up as a failure.
Better to face the reality that a lot of things are done better by government and a lot of things are best left in the hands of the corporate world.
As a starting point, let me propose that all essential services should always remain in government hands. A short list would include water, electricity and gas supply, health, education, telecommunications, trains and public transport generally.
Where did the government say that immigration was not a factor in house prices previously? I don't remember that.
It’s not the fact that the government or the opposition ever declared that it was not a contributing factor , it’s the way that there was a consensus to never even mention migration when the subject of housing affordability was discussed.
It never got a mention. You find me one instance where the government or the opposition mentions rate of immigration when discussing the issue of house prices previous to Tony Abbott raising it earlier this year - to a public lashing by his peers , no less.
It’s hard to google for an omission to provide you with evidence.
Here’s an example of glaring omission.
https://www.sbs.com.au/news/labor-aims-to-take-heat-out-of-housing
So many ideas that tinker around the edges of the issue. But never mention the demand side of the equation.
Fake left Uber-wankers !
Now that’s the turn of phrase that you’d not expect from too many economists....
https://www.macrobusiness.com.au/2018/11/pascometer-redlines-on-wage-gro...
Last line..
Blowin the biggest factor locally in driving up prices at the bottom end of the market, where most first home buyers purchase, has been people of myy generation negative gearing one or more investment properties. Yes immigration has some influence, but reducing it would not be a fix-all.
In terms of immigration policy both major parties signed up to a big Australia a long time ago. The reasoning, which they tend not to discuss publicly, goes back to the "populate or perish" era. They fear that a small Australia would be very weak militarily and economically. You have mentioned the expansion of Chinese influence and investment. Smaller economies, facing that scenario have far fewer options. Yes they can prevent it but that reduces GDP and the standard of living. A smaller Australia would almost certainly be a poorer Australia. House prices would be much lower but wages would be even lower again.
You’re kidding , right ?
1/ Many negativity geared investors wouldn’t have gravitated to the property market in the first place if it wasn’t so attractive with the ridiculous capital gains that were happening due to the flooding of more and more people into the market with massive immigration. The intensity of the housing market drew investors like flys to shit.
Let’s see the rates of property investment now that prices are deteriorating. Take away the floor provided by continued ultra high migration and investors - negatively geared or otherwise - will vanish.
2/ Populate to perish ? You say that China is not a threat . So who are we afraid of ? Particularly when China makes up a good percentage of our population.
As for wages and standards of living....you are seriously out of the loop aren’t you ? Check the link that I post about an hour ago. High immigration suppresses wages and standards of living . Surely even you must be forced to acknowledge this reality by now ?
Australia was richer on virtually every scale 10 years ago when it had millions of people less than now. The only way that anyone is better off is their debt ridden paper worth due to the ridiculous price of their houses.
The mining boom should have made us uniquely wealthy as a nation in global history. But it was the commencement of high immigration at behest of big business that put an end to that. Wealth dilution, down ward pressure on wages , increased competition for jobs leading to unstable employment being a normal situation for most people , illegal labour practices that are culturally entrenched in other countries becoming normalised into our labour market.
I tell you BB, for a man of the people , you sure don’t walk amongst them very often.
Let’s see how your chippy son fares once China really starts flooding our labour market as a result of the free trade deals. Maybe you’ll get a new appreciation for what I’m talking about.
Tell him to find a niche and get very good at it.
Why are you so wedded to avoiding naming immigration as a negative factor to the point of dishonest commentary ?
Yes , reducing immigration will fix the housing affordability issue.
Completely and utterly.
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