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Today's quote:

Monday, November 4, 2024

Against all odds, Trump is back?

 

I've taken the liberty of adding a question mark at the end of this video's title. I hope I will be right in my scepticism because to me a second Trump term would be unthinkable (and not only because Australia would be a big loser under his presidency) although, according to Niall Ferguson, "it makes a lot of sense because nobody else articulated the dissatisfaction of those people who were losing out economically and in other ways from globalisation than Trump did."

"... making sure that the people in the Pentagon prioritise war readiness not DEI ..." We in the West have convulsed ourselves in so much useless left-wing "diversity, equity, and inclusion" that we have lost sight of our real problems and the real dangers in today's world.

This video is only days old, and for a counter measure, I've added the following very prescient video which is now already five years old.

 

From transcript [31:35]: "... Jerry knows quite a lot about Donald Trump's defects because you would have had to be blindfolded with noise-cancelling headphones on as a cop in Jerry's time not to know about Donald Trump's defects. Jerry was the first person to explain to me in early 2016 that Trump was gonna win. All my Harvard professor friends said he has no chance. Jerry said because he tells it like it which meant he talkes like me and and my mates. He doesn't talk like a professional politician with eight talking points that they memorized before they went on TV and the second thing was even more telling he said, Niall, he's going to shake things up. He's going to shake things up and I thought that's it: he's voting Trump for disruption. Trump's a wrecking ball. For Mike and Jerry the political system had become so disgusting, Hillary Clinton so personified all that they hated about the elites, their hypocrisy, you know, whole climate change in the private jet climate, their inability to speak in normal American English that it was necessary to bring in Donald Trump and blow the whole thing up ..."

And here's comes the kicker for Australia [1:22:38] (underlining added by me): "President Trump has not exactly been reassuring to traditional US allies and the Alliance system. It was a great source of concern for both General McMaster, his former national security adviser, and General Mattis, his former defense secretary. They've gone, and I think one has to worry a little bit about how firm the resolve of the United States would be towards any of its allies in the face of a conflict, so when you put those two things together Australia can hardly be complacent about its security. Look, let's just do some basic history here: history is mostly the history of empires; it's not actually the history of nation-states and it's mostly the history of conflict, not the history of peace. You get peaceful periods, no question; we've been in a relatively peaceful time since the end of the Cold War, but to assume that this will continue indefinitely would be to ignore the lessons of history. Another obvious lesson of history which has been true throughout the centuries is that if you want peace prepare for war and vice versa. If you want war, act like it'll never come, allow your defense capability to atrophy. For an enormous island that is thinly populated in relative terms compared with Asia and that has a vast store of natural resources, for such an island to be ill-defended seems like the most spectacular historical folly, in particular, when it is in relatively close proximity to a one-party state with obviously imperial ambitions. It's quite a long way away from its principal ally. That China has imperial ambitions is obvious. The more Chinese leaders in their speeches say, 'Oh, China never does conquest', the more I'm like to say, 'Seriously?' You really got to make that argument? I mean the Ching Empire was taking great chunks of Russia just over a century ago, so let's get real here. This is not a good situation. It was okay during the Chimerica era when the Chinese were like, okay, it's no problem we'll just sell you stuff cheaply and underpay our workers and lend you money, it's cool. We'll buy Australian stuff, not a problem, at market price, how much do you want? That was all fine but anybody who thought that that was gonna last indefinitely was dreaming because the whole point of Chimerica was that it was a temporary illusory relationship and that at some point China wouldn't need it anymore, and the Chinese are kind of getting to the point where they don't need us anymore and the bets that we placed from the Clinton-era that they would liberalize or that the internet would somehow turn them into a democracy, all that's gone. China's actually gone in the opposite direction; politically, Xi Jinping has increased the central control of the party and is reimposing doctrinal orthodoxy. He's cutting out such free speech as had developed in China's public square. I mean, how many more flashing red lights do you need? So I think this is kind of getting to the point of urgent and what I see in Australian politics is a debate that if it was going on in a regional council in Scotland would seem parochial. The parochialism is stunning. True, a considerable efforts been made by the intelligence and national security community in this country to awaken people to the potential threat Australia faces but is Australia in any way prepared from a naval point of view for Chinese acts of aggression? No way! So I think this is a moment of truth; actually, I said yesterday that we were entering a new Cold War and we should stop pretending otherwise. And this cold war will be very different from the last cold war. It will be fought in different ways; it will be an arms race for everything from artificial intelligence to quantum computing more than for clear weapons or rockets to the moon, and the battlefields will be different when you consider what China's Belt and Road initiative has become. It is nothing less than a global policy; it's far extended beyond the original concept that was essentially a Central Asian Indian Ocean concept and has become global, and the search for commodities is not a trivial part of what is involved and pass some level are about acquiring commodities at below market prices that's kind of what empires are or at least not trusting to the market to deliver you the commodities so it's better during the reader statement own the mines, control the supply chain, and not be at the mercy of the market or the mercy of a navy which China currently is to the US Navy, so we need to clearly understand the historical logic of China's expansion. To have security, China cannot be dependent on imported commodities and market prices. When you think about what that implies for Australia, it's really quite scary because Australia is a prize. Australia's a hugely attractive place from a Chinese vantage point and not just as a vacation destination or place to study and learn English and I'm stunned by the lack of awareness of the strategic vulnerability of Australia when everything should be screaming to you prepare. I think we'd all agree that it's extremely sobering. It's worth noting that Australia only became a nation in 1901. The federal government at that time read what was happening in Europe better. I think than the Europeans did realized trouble was coming and in 1907, just six years after we became a nation, they ordered what could be described as a Tier 2 Navy from the Brits. It arrived here just five years later. By way of contrast, in 2009 it was decided and generally agreed as a matter of national urgency, we needed 12 new state-of-the-art submarines. By the time the first one is delivered it'll be 25 years from that decision at the earliest. That is the length of time that elapsed between the beginning of the First World War and the end of the Second World War. I believe that's a very very timely warning to us all. On this question of the technological race you've been talking about AI. There's a debate going on about whether in fact the Americans might not have lost out already to the Chinese in that race but to feed into a specific we're starting to understand the extraordinary control the Chinese Communists are now exercising over there people including the deployment of very sophisticated technology to monitor their people this horrendous ideas it seems to me of the Social Credit system which is obviously a great user and deployer of technology seems chilling how should we understand it well you're probably all familiar with what's happening in China which is that the the Internet has enabled the Chinese governments have access to data about its citizens without parallel in the history of authoritarian regimes and with the deployment of surveillance technology cameras and facial recognition technology the government is edging towards having real-time coverage of its populations"

 

I could listen to this chap all day long. And if you, like I, cannot get enough of Niall Ferguson, read his book "The Square and the Tower":

 

Read a preview here or, for a summary, click here
My favourite is "The Great Degeneration"

 


Googlemap Riverbend

 

Sunday, November 3, 2024

The art of listening

 

 

Listening to audiobooks is in some way a throwback to our ancestral past when we would sit around the campfire listening to our elders tell stories of their own lives or the lives of those who came before them. It is ironic that futuristic technology now allows us to go back to our ancestral roots and perform that most primordial of all tasks - the art of listening.

Of course, the futuristic technology I'm referring to is AI - or Artificial Intelligence for those who've only recently stopped listening to vinyls. After pasting or typing a book's text into text-to-speech software, the AI voice generator then converts the text into speech. Depending on the software, there are options to adjust the reading speed and also choose from a range of natural voices.

A bad reading voice can absolutely trash a good book, and perhaps none of the AI conversions will ever be as good as the human voice, such as the recordings of Australian poetry and literature by my own favourite, Leonard Teale, an Australian radio announcer, presenter, narrator, and actor who was known for his baritone voice (you may still know him for his role as David "Mac" MacKay in the early Australian top-rating police drama "Homicide" which ran for 509 episodes- yes, I'm showing my age).

 

Watching HOMICIDE again brings back memories of evenings spent in front of the telly in the TV Room of BARTON HOUSE, watching "Z-Car" or "M*A*S*H", laughing at the antics of Agent 99 and Maxwell Smart in "Get Smart" ("Good thinking, 99" was a favourite saying in those days), being bored to death by Barry Jones's insufferable show-off act on Bob and Dolly's BP Pick-a-Box, and, yes, watching the weekly episode of "Homicide" - click here.

 

However, AI can create many more audiobooks and much faster and at much lower cost than any human voice, which is perhaps the reason why so many are now freely available on YouTube. My favourite is "neuralsurfer" who has an extensive playlist - click here, select an author and then scroll through the titles in the right-hand panel.

David Christopher Lane - to give him his full name - offers audiobooks of several of my favourite authors: Hermann Hesse, Aldous Huxley, Somerset Maugham, Bertrand Russell, Ernest Hemingway, H.G. Wells, Mark Twain, Oscar Wilde, Joseph Conrad, Robert Louis Stevenson - I don't think there are enough days left to listen to them all while I lie on the old sofa on the sunny verandah and have myself read to sleep.


Googlemap Riverbend

 

Friday, November 1, 2024

This one is on the house!

 

Thanks to ABC Radio National's program "Big Ideas", you don't have to dress up and go down to the Park Hyatt Hotel in Melbourne and pay a minimum $250 but can listen to Sir Niall Ferguson from the comfort of your own home, sitting in your dressing gown and slippers and close to the fridge.

Click here and then again on

for an hour of intellectual stimulation. Your future may depend on it!


Googlemap Riverbend

 

 

P.S. For more brain food, click here.

 

The "Black Box" of my life

 

 

When we were young, we could remember our short life in its entirety. As we get older, our memory becomes a thing of shreds and patches. It's a bit like the black box that aeroplanes carry to record what happens in a crash. If nothing goes wrong, the tape erases itself. So if you do crash, you know why you did; if you don't, then the log of your journey is much less clear.

I prefer not to remember the crashes but all the exhilarating take-offs in my life, all of which have to do with my work since it was work that gave me my reason for being as well as sustenance in the beginning and later a slowly growing prosperity and now a very comfortable retirement.

There was my primary school teacher, "Herr Sapper", who helped me overcome my lack of a tertiary education by giving me this personal letter. It gave me my first job which normally would have required matriculation instead of my "poor-people education" of just eight years of basic "Volksschule".

 

 

Then came that magic moment in 1964 when the friendly interviewing officer in the Australian consulate wrote "Appears good type. Understands employment prospects. Should settle without difficulties. Questions to the point. Neatly dressed" on my "Auswanderungsantrag nach Australien mit Fahrtunterstützung" (Application for assisted passage to Australia) and, with great florish and in red ink, stamped "APPROVED" across it.

 

 

Or what about the anxious moment when, just weeks after my arrival in Australia, Mr Reid of the ANZ Bank ignored my stumbling English and gave me a start with the Bank and into a better career than I had ever dared to hope for when I first had signed that application for assisted passage?

 

 

Then there was that moment three years later, when the partner in the Canberra firm of chartered accountants, Hancock Woodward & Neill, sent me off to their branch office in New Guinea with the words, "No need to tell me anything about yourself. I heard nothing but good things about you from my golf partner who works with the ANZ Bank. I just wanted to shake hands with you and wish you all the best in your new career."

 

 

And then the brief encounter in late 1970 with the manager of Bechtel Corporation who were building the Bougainville Copper Project. He had sent me the airfare to fly across from Rabaul for the interview, took one look at me, and sent me straight back with the words, "Pack your things and be back here on the first day of next month" (on three times my current salary plus free board and lodgings and a company vehicle).

 

 

Two years later, with the Bougainville Copper Project completed, I was walking the streets of Sydney, looking for a job! I had applied in writing for another job on the island with a company who had just won a new contract there, giving as my address the only permanent contact I had, a friend in Canberra, to whom they sent a telegram asking me to come in for an interview. All my friend knew was that I was staying in some sleezy boarding-house on the North Shore but which one? He must've tried half the numbers in the Yellow Pages before he got to the one that I was in.

If you know anything about boarding-houses you know that their only telephone is the one hanging on the wall in the empty hallway and anyone passing it may answer it - or not. The chances of that 'anyone' being someone who happened to know that I, only recently arrived, was the one my friend was looking for, and that I also just then happened to be sitting in my windowless walled-off-end-of-the-corridor "room" and was able to come to the phone, are so infinitesimally small as to almost non-existent.

The next day I attended the interview and the day after dlew back to the islands to take up my new position as accountant and office manager in what was so far the biggest job in my career. Six months later I had successfully pulled off a challenging start-up job and, with a glowing reference in my pocket, headed back to Sydney on a promotion.

 

 

And the blood-rushing-to-the-head take-offs continued when I received a telegram from France's biggest oil company to take up the position of chief accountant in Rangoon in Burma, sight unseen!!! That was after I had grabbed the very last copy of Friday's FINANCIAL REVIEW at Port Moresby's newsagency in which they had advertised it. Had someone else snatched that last copy, I would never have seen the advertisement!

 

 

Then a bunch of executive headhunters phoned me just after I had got my first taste of domestic bliss and had settled down in a small house on the beach in Far North Queensland with a wife and a neighbour's dog and an easy job that paid the bills. Would I be interested in kicking off a multi-million-dollar joint venture in New Guinea? The call of the wild again!

Four months later I was back in town with a new glowing reference in one hand and a new problem on the other: the river that Heraclitus had predicted two-and-a-half-thousand years earlier I would not be able to step back in again had totally dried up, with the small house on the beach still occupied by tenants and no job available to pay the bills. With wife and neighbour's dog also gone, I've always regretted heeding that particular call of the wild.

 

 

But still the take-offs continued with my serendipitous discovery in yet another issue of the FINANCIAL REVIEW of an half-page display advertisement for a Group Financial Controller in Saudi Arabia.

With the theme music of Peter O'Toole's "Lawrence of Arabia" in my ears, I applied and was sent the airfare to attend an interview. It must've been my mention of the Alhambra and that they'd had street-lighting in Córdoba while the rest of Europe was still dressed in bear skins that got the ball over the net, because a week later I was sitting in the pointy end of a QANTAS jet on my way to the world's largest sandbox.

In between these notable ones, there were several dozens of other take-offs and landings in other countries. Thirty years ago, I made my final touch-down at "Riverbend". Occasionally, I still miss those exhilarating blood-rushing-to-the-head take-offs but not the packing up, the queues at the check-in counter, and the endless waiting at the baggage carousel.

As for the black box, it's actually orange in colour, and it was invented by Dr David Warren, an Australian who was born - wait for it! - on Groote Eylandt in the Northern Territory, the first white child born on the island.


Googlemap Riverbend

 

Tuesday, October 29, 2024

The inimitable Stephen Fry

 

 

I've always suffered from insomnia. At one time, my insomnia was so bad, I couldn't even sleep during working hours. Luckily, these days I have ABC Radio National to listen to during those dark and endless hours between 10 o'clock at night and 6 o'clock in the morning.

Last night's Radio National was an absolute treat: first there was Late Night Live featuring "Stephen Fry on life, last words and the things he can't do" followed by a commentary on the current high-stakes soap opera playing out in America, "What we're getting wrong about the US election".

All that insomnia didn't stop me from going to the pool at the crack of dawn for a few hours' aquatherapy and a leisurely lunch at the Thai restaurant. Now it's time for an afternoon nap on the sunny verandah.

It's a hard life!


Googlemap Riverbend

 

Thursday, October 10, 2024

Made in Australia

 

Take heart! We're still making things in this country; not cars, not computers, not even tooth-picks, but watering cans! What we're going to fill them with, given the deplorable state of our Murray-Darling Basin Plan, remains to be seen but such minor detail is well beyond our self-serving politicians' three-year election cycle.

In the meantime, and not here but in America, they're already building robotic hamburger-flippers which will eventually deprive several generations of young Australians of their last job prospects unless they stop playing truant and start appreciating the great privilege of a free education.

But, hey, there's always Centrelink! We're such a lucky country!


Googlemap Riverbend

 

Tuesday, October 8, 2024

You made me do it; I didn't want to do it

 

 

Everybody claims to be a patsy these days, but not a Patsy Cline: "I played the poker machines until I was broke. I didn't want to do it; they should've stopped me do it." "I maxed out my credit cards. I didn't want to do it; they should've stopped me do it." "I made some shithouse investments. I didn't want to do it; they should've stopped me do it."

Ignorance has never been a defence before the law, but stupidity some-how has. I am tired of hearing people blaming them, "the government" or some other Big Brother, anybody except themselves, for being stupid.

They claim to fall to pieces and have their debts written off and their contracts annulled, with some of them then becoming 'counsellors' to similarly stupid people. Government- nay, taxpayer-funded, of course!

I'm tired of people who refuse to take responsibility for their lives and actions. I'm tired of them blaming them, the government, or imagined discrimination, or big-whatever, for their self-inflicted problems.

Yes, I'm bloody tired. But I'm also glad I am in my late 70s. Because, mostly, I'm not going to have to see the world these people are making. Thank God I'm on the way out and not on the way in.

Time for a cup of tea. It's still coolish outside. I wonder who I can blame for that? Isn't there a support group for shivering tea-drinking retirees on the South Coast of New South Wales? If not, why not? I want to know! I paid my taxes!


Googlemap Riverbend

 

Monday, October 7, 2024

Death of a Princess

Read the book online at www,archive.org

 

When I first came to this country, I couldn't understand the people because of my lack of English. These days I can't understand the people because of their lack of English, which includes my friendly GP who is a Pakistani who grew up in Jeddah where his father worked as a banker.

To keep his mind off my blood pressure and cholesterol level, I gave him my spare copy of Robert Lacey's "The Kingdom" which I had last read while holed up for two weeks in a five-star hotel in Bahrain as I waited for my entry visa to the Kingdom of Saudi Arabia to come through.

I never quite read all of its 668 pages because rather than being able to take it with me on the long flight across that sandy emptiness to Jeddah, I had to leave it behind as it was banned in Saudi Arabia, but I do remember reading in it about "Death of a Princess", a docudrama that had stirred up an international hornets' nest only two years earlier.

To keep up with my GP and to remind myself of what I had read forty-odd years ago, I re-read my beautiful hadcover copy of "The Kingdom" and also watched the docudrama which is freely available on YouTube:

 

Part 2  Part 3  Part 4  Part 5  Part 6  Part 7  Part 8  Part 9  Part 10  Part 11  Part 12 
(Part 13 not found)

Read the docudrama transcript here

 

Here's the gist of it: One noon-time towards the end of July 1977, Princess Misha'il, granddaughter of Prince Muhammad ibn Abdul Aiziz, was led out into a car park beside the Queen's Building in Jeddah and forced to kneel down in front of a pile of sand. She was then shot dead. Standing near by was her young lover, Khalid Muhalhal, nephew of General Ali al Shaer, special Sa'udi envoy to Lebanon, and, when the young man had seen the princess die, he also was executed - by beheading.

Nearly three years later, in the spring of 1980, a film dramatization of these executions and of one journalist's attempts to investigate them was broadcast by ATV in Britain, and this broadcast caused King Khalid such offence that he instructed Great Britain to withdraw her ambassador from the Kingdom. There was even wild talk at one stage in April 1980, of not only the ambassador but all 30,000 Britons working in Saudi Arabia being put on planes back to London.

Such were the bare essentials of the painful international melodrama that flourished for a season around "Death of a Princess". The outline of the princess's story was straightforward. Married off at an early age to an elder relative who took little interest in her, Princess Misha'il, the daughter of one of old Prince Muhammad's less distinguished sons, turned for consolation to young Khalid Muhalhal and enjoyed with him a romance whose flamboyance scandalized the rest of the family. The couple tried to elope. To effect her elopement, the princess staged a drowning, leaving her clothes in a pile on the shore of the Red Sea. Then she tried to escape with her lover from Jeddah airport, disguising herself as a man. They were caught, and both suffered the death penalty prescribed for adultery in Saudi Arabia's code of Islamic law.

There's a rumour that Princess Misha'il had a stand-in - or should that be a 'kneel-in'? - and that she's slowly growing old in a windowless room of the royal palace in Riyadh like some latter-day female version of the "Man in the Iron Mask". Will we ever find out? "Inshallah." If God wills it.


Googlemap Riverbend

 

Friday, October 4, 2024

How to live under a Labor government

 

Back in 1981 during my first attempt at domesticity in Townsville, I had a retired neighbour who confided in me that, after a lifetime of earning lots of money in mining, he had buried it all in kerosene tins in his garden - I kid you not! - so that he would qualify for the government pension. I pointed out to him that he missed out on more interest than he got in welfare but he was not persuaded because, as he said, "I paid my taxes for it!"

I have been searching for kerosene tins on ebay today because, if Labor gets in next year and starts fiddling with my self-managed super fund, I'll pull all the money out, stick it in kerosene tins, bury it in the garden, and leave a map in my will with a cross on it that says, "Dig here!"

Then I'll go, cap in hand, to Centrelink and apply for the government's age pension plus a whole bunch of other freebies: free medical treat-ment, free pharmaceuticals, free trains and buses, concessional postage stamps; why, even free housing, if I fill in the right forms.

If enough of us self-funded retirees follow my example, the whole thing may finally be seen for what it is - a totally rorted and unsustainable system for those who're footing it, mainly generations yet unborn; more here - and those of us who didn't piss it all up against the wall while we were still working may once again be allowed to provide for our own retirement without being robbed at every step of the way.

Incidentally, when I visited Townsville again in 1985, I heard that the retired neighbour had died and the house been sold. I was tempted to tell the new owners to start digging but they looked like Labor voters who were already drawing enough in benefits!


Googlemap Riverbend

 

Thursday, October 3, 2024

The Trouble with Islam

 

 

Irshad Manji calls herself a Muslim Refusenik. 'That doesn't mean I refuse to be a Muslim,' she writes. 'It simply means I refuse to join an army of automatons in the name of Allah.' These automatons, Manji argues, include many so-called moderate Muslims in the West. In blunt, provacative, and deeply personal terms, she unearths the troubling cornerstones of Islam as it is widely practiced - tribal insularity, deep-seated anti-Semitism, and an uncritical acceptance of the Koran as the final, and therefore superior, manifesto of God.

 

Read it online here
(for the banned Arabic or Urdu version, click here)

 

In her book - subtitled 'A Muslim's Call for Reform in Her Faith - is an open letter to Muslims and non-Muslims alike, Manji breaks the conspicuous silence that surrounds mainstream Islam with a series of pointed questions: "Why are we all being held hostage by what's happening between the Palestinians and the Israelis? Who is the real coloniser of Muslims - America or Arabia? How can we read the Koran literally when it's so contradictory and ambiguous? Why are we squandering the talents of women, fully half of God's creation?"

Not one to be satisfied with merely criticising, Manji offers a practical vision of how Islam can undergo a reformation that empowers women, promotes respect for religious minorities and fosters a competition of ideas. Her vision revives Islam's lost tradition of independent thought. This book should inspire Muslims worldwide to revisit the foundations of their faith. It might also compel non-Muslims to start posing the questions we all have about Islam today. In that spirit, "The Trouble with Islam" is a clarion call for a fatwa-free future.


Googlemap Riverbend

 

Wednesday, October 2, 2024

Thoughts to end the month on

This makes for rivetting reading - click here.
Published in 1986, things are a lot, lot, lot worse today.

 

Another month gone! Old accountant's habits never die and, more out of curiosity than necessity, I keep tabs on how much we spend each month, and I'm always surprised by what little money we need to live a comfortable life.

Which makes me absolutely livid when I hear all those do-gooders and social welfare bodies constantly belly-aching about "The Government" (meaning, other hard-working taxpayers) not paying enough when the current age pension is already a very adequate and indeed generous $1,725.20 a fortnight for a couple - or almost $45,000 a year - click here. And then there is rent assistance of up to $199.00 a fortnight - another $5,000-plus a year - click here.

Of course, there is the so-called 'Asset Test' but look at these crazy limits - click here: a non-homeowning couple is allowed assets worth $722,000 before they have their age pension reduced incrementally, and as much as $1,297,500 before their age pension cuts out completely (of course, most would have already transferred such wealth to their children while still having control over it). It gives WELFARE a whole new meaning, doesn't it?

But those cash payments are just the tip of the proverbial because there's also free housing, free medical treatment, free medication, free trains and buses, even concessional postage stamps, and enough other freebies and concessions to fill a whole book - in fact, there used to be a 'Dole Bludger's Guide to Australia' which taught bludgers how to squeeze more out of the system.

Don't get me wrong, every civilised society needs a welfare 'safety net' for the weak and vulnerable but that safety net shouldn't be turned into a soft inner-spring mattress with a cosy doona on top! It shouldn't be so generous or so easy to get that it ends up discouraging hard work and self-reliance. Those who can work must work and those able to provide for their own retirement must do so.

There are always those who claim that it's an 'entitlement' because "we paid our taxes for it!" Well, if this were so, then those who paid lots of taxes would get lots and those who paid nothing would get nothing. The fact that all get the same makes it WELFARE.

Even if ALL their taxes had gone towards their age pension - and who would then be left to pay for the running of the country? - it would never be enough to cover their age pension for another ten, twenty, perhaps even thirty years of retirement. Anybody who's ever tried to buy an annuity could tell them that! - more on it here.

I once tried to tell this to my retired neighbour in Townsville who confided in me that, after a lifetime of earning lots of money in mining, he had buried it all in kerosene tins in his garden - I kid you not! - so that he would qualify for the government pension. I figured that he missed out on more interest than he got in welfare but he was not persuaded because "I paid my taxes for it!" When I revisited Townsville in 1985, I heard he had died and the house been sold. I nearly told the new owners to start digging! ☺

Of course, under our crazy rules, people can live in multi-million-dollar mansions and still claim welfare which means that many put all their money into their houses and then cry poor. And I know of couples who separated - at least 'on paper' - so as to receive fortnightly $1,144.40 EACH instead of the combined $1,725.20. The length some people go to for another fifteen thousand dollars a year is amazing!

It's an insane and unsustainable system (for those who're footing it; mainly generations yet unborn) but perhaps no more insane and unsustainable than when Germany pays out $50-billion-plus every year to house and feed the same people that now terrorise the country.


Googlemap Riverbend

 

Tuesday, October 1, 2024

PV = P * [(1 - (1 + r)^-n) / r]

 

Every time I hear some of those well-to-do age pensioners thump the table and yell out, "It's my money; I paid my taxes!", I feel like saying, "PV = P * [(1 - (1 + r)^-n) / r]" and show them this table of the present value of an annuity.

So you're looking forward to a long and healthy retirement of twenty years during which time you expect to be paid an annual pension of around $23,598 ? How much would it cost you to buy such an annuity?

This online calculator will do the calculation for you: enter $23,598, an assumed discount rate of (say) 4%, and 20 for the number of payments, and you'd have to splash out $320,704.52 to secure such a single's pension (or $483,448.68 for a combined couple's pension of $35,573).

How much income tax did you pay over the course of your working life? Now reduce that total by a rather large percentage which went towards paying for all the things you rightly expect governments to provide you with. Here's a hint: lots of infrastructure, defence and police force, fire brigade, hospitals, schools ... I think you get the idea. So how much is left of all your taxes to "buy your pension", bearing in mind an annuity is fixed, whereas your free age pension is generously indexed to the CPI?

I'm absolutely convinced that the shortfall is far greater than your indignation that this is not really your money but rather welfare, paid for in part by today's hardworking taxpayers, with an ever-greater part passed on as an ever-mounting debt to generations not yet born.

You see, the age pension was legislated in 1908 during the Deakin administration and was unusual compared with other countries in that it was non-contributory (paid out of general revenue, rather than social insurance contributions). Retirement was set at 65 at a time when the average life expectancy was 55.2 years for males and 58.8 for females; today it is 81.2 and 85.3 respectively - see here. (I've my own theory on why women live longer but don't get me started ☺)

The system is bankrupt and you may be the last generation to be so generously rewarded in old age. To realise that, you don't have to be Einstein, just grateful!


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Monday, September 30, 2024

The Great Courses

 

 

Imagine my amazement when I found a whole big box of DVDs and textbooks of "The Great Courses" in one of my favourite op-shops, with the vast majority still in their shrink-wrapped plastic covers.

Not being greedy, I left plenty for the next knowledge nerd, and only bought, for a mere $2.50 each, "World History"; "Understanding the Dark Side of Human Nature"; "Classic Novels: Meeting the Challenge of Great Literature"; "A Brief History of the World"; "Great Utopian and Dystopian Works of Literature"; "The Addictive Brain"; "Writing Great Fiction: Storytelling Tips and Techniques"; "Building Great Sentences: Exploring the Writer's Craft"; "Masterpieces of the Imaginative Mind: Literature's Most Fantastic Works"' and "English Grammar Boot Camp".

If you bothered to click on the above link, you would have seen that it retails for $339.95 instead of the $2.50 I paid for it. Arriving at Lecture 22 on page 149 I became convinced that $2.50 was a more fitting price because it opened its discussion on punctuation with the sentence "The 20th century witnessed some reigning in of punctuation." Really?

During the whole reign of Queen Elizabeth II and her English to whom I swore my allegiance, the word "rein" was never spelt "reign"! Surely, this was just an isolated oversight by a tired editor, but, no, the horse had bolted and could no longer be reined in when on page 156 the apostrophe was described as "... a French borrowing, coming into English in the 16th century ... It was then reigned in as part of standardization."

This wouldn't have been tolerated during Queen Elizabeth II's reign!


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Bleed Them Dry Until They Die

 

 

The retirement villages are ripping off retirees. As a former resident said, "It's a financial trap. It's a financial sinkhole. Once you're in, it's very hard to get out." Retirement villages are marketed as a way for older Australians to keep their independence without the burden of maintaining a property, but it's all about money: bleed them dry until they die. Read more here.

Retirement villages are home to more than 250,000 older Australians, drawn by clever marketing, but they are buying a product which, despite its financial complexity and a myriad of different schemes on offer, is excluded from the definition of financial products and therefore without any federal oversight and the corporate regulator's reach, ASIC.

It's a get-poor-quick scheme for the individual residents and a get-rich-quick scheme for the operators. I don't know why anybody would enter into such contract, which is what I told another retired German whom I met in 2011 on the Atherton Tablelands just as he was on the cusp of signing up with such an operator in Mareeba. I like to think that I saved him a good deal of money; not that he spent it wisely by making up for lost time and travelling the world. Instead, he bought himself a big house which his heirs sold for a profit when he died seven years later.

The moral of the story? There isn't one except this: whatever you do, stay clear of retirement villages. They're a cunningly disguised rip-off.


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I have never heard it put so plain and simple

Many Muslims today are not happy!

They're not happy in Gaza
They're not happy in Egypt
They're not happy in Libya
They're not happy in Morocco
They're not happy in Iran
They're not happy in Iraq
They're not happy in Yemen
They're not happy in Afghanistan
They're not happy in Pakistan
They're not happy in Syria
They're not happy in Lebanon

So, where are they happy?

They're happy in Australia
They're happy in the UK
They're happy in Canada
They're happy in the US
They're happy in France
They're happy in Germany
They're happy in Italy
They're happy in Sweden
They're happy in Denmark
They're happy in Norway

So, they're happy in every country that is not Muslim.

And who do they blame?

Not Islam
Not their leadership
Not themselves

THEY BLAME THE COUNTRIES THEY ARE HAPPY IN! AND THEY WANT TO CHANGE THEM TO BE LIKE THE COUNTRY THEY CAME FROM WHERE THEY WERE UNHAPPY.

Excuse me, but have I missed something here?


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Reflections

 

In choosing ways of living I have always been an impulse buyer which has sometimes led to buyer's remorse but also to many there-but-for-the-grace-of-God moments as I look at people around me as well as back at people I have known.

Two "Schulkameraden", class mates from my schooldays in Germany, never left my hometown. They worked all their lives in the one job and received the proverbial goldwatch. There but for the grace of God ...

A fellow articled clerk in Germany never left my hometown either nor the firm we had been articled to. There but for the grace of God ...

Another young German and former colleague from my time in South-West Africa never left and to this day ekes out a living in one of the world's driest places. There but for the grace of God ...

A fellow accountant from my time in Rabaul never left New Guinea. Having lost everything during the 1994 volcanic eruptions and given up Australian citizenship for PNG nationality, he is condemned to keep working until he drops in his tracks. There but for the grace of God ...

An ex-boss of mine, who was worth millions of dollars when he became Australia's Bill Gates long before Bill Gates had become a household word, now lives on welfare in a bedsitter in Australia's tropical north. There but for the grace of God ...

And as I visit the local shopping centre in the Bay, I watch old men at the end of their working lives and young ones who are just starting theirs, collect shopping trolleys for a living.

There but for the grace of God go I.


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