WA grabbing higher mineral royalties - can't blame them!

[Token Funder]

Hang on just one minute, my redneck comrades.

Are you all seriously so provincial as to think that the mast can glide on without the ship?

(Really! I'm speaking as one invested in the WA mining-related property economy, so I'm not speaking out of my hat here.)

This is a game-changing world-class resources boom, and if we don't change the game, we'll put a frigggin' great big hole in the whole damned thing.

Do you want to bequeath a short-sighted, incoherent, tumultuous mess to your nation's offspring, people? For what? Short-sighted political point-scoring?

I'm honestly perplexed by the ideas in this thread.

I'm guessing the answer is "Yes".

It's hard to have a long-term vision from a hole in the ground.

 

[Aaron Sice]

Long term vision ends in 25 years anyway......

I will take what I can get now, thanks. WA was raped in the 80s and left high and dry as all the bankers swanned around Sydney and made stupid movies and exported dumb **** colloquials that still scar us today.

Reminds me of a kpindergarten saying my kids came home with....You get what you get and you don't get upset.

 

[Belbo]

Love the new end-of-post-tag, Aaron. But are you sure your children would concur with your 'as long as it serves me now' argument?

 

[Belbo]

TF, trust me: The view looks better from a hole in the ground than from an ivory tower in modelling-world.

PS. Please, permit me a personal question: Do you actually own any IPs? (I am, apologetically, all too often left guessing as to the motive in your commentary.)

 

[Token Funder]

TF, trust me: The view looks better from a hole in the ground than from an ivory tower in modelling-world.

PS. Please, permit me a personal question: Do you actually own any IPs? (I am, apologetically, all too often left guessing as to the motive in your commentary.)

Asked and answered many times but as your search skills don't appear to match your flamboyance:

1. Used to.
2. Sold and as a consequence, own my PPOR outright.
3. My only motive give the lender's perspective on the investment class, point out bs as required and have fun if the opportunity presents.
4. Oh, and if I can reduce the number of financial car crashes I or my peers experience because a naive or suicidally over optimistic borrower thinks a little more carefully about what they're doing, I'll take that as well.

 

[Belbo]

I thought so.

Just sayin'.

 

[rastus2]

it is indeed a master storke of genius by Barnett and boy does it have Swan fuming! i read a comment from Barnett last week in which he said that if the eastern states thought they would benefit form the boom they were mistaken, which at the time I thought was a bit strange. In light of this action I see where he was coming from! Mind you its only $2bn, but the fragility of the federal surplus is such that it means labor probably wont achieve their goal.

Sigh..

oddly enough, I did not see WA complaining when the mining slump was happening and the benifits of being part of a larger community came back to them.

WA has every right to take it's fair share of Australia's wealth... that does not mean it has every right to take an exact portion of it's contribution in the good times and ignore it's drain on Australia in the bad times.

 

[Ausprop]

WA has every right to take it's fair share of Australia's wealth... that does not mean it has every right to take an exact portion of it's contribution in the good times and ignore it's drain on Australia in the bad times.

conversely, it cant just be all give

 

[Aaron Sice]

Sigh..

oddly enough, I did not see WA complaining when the mining slump was happening and the benifits of being part of a larger community came back to them.

WA has every right to take it's fair share of Australia's wealth... that does not mean it has every right to take an exact portion of it's contribution in the good times and ignore it's drain on Australia in the bad times.

so, aside from the facts that....

1) WA's skill pool was decimated in the 80s and late 90s by East Side poachers who left nothing for WA to flourish with, and

2) WA's funding has always been under-par for what it gives to the nation as a whole, and

3) East Coasters still see it as a backwater because we like our weekends to enjoy our beaches and don't de-regulate trading hours so all we do is work, and

4) "Good times" of the 80s and late 90s were shared by all, unsure what you mean by "bad times" because last I checked, outside of ore and gas, we still had a bucket load of meat, wool and grain to sell, while Sydney still tries to sell margin from currency trades and coffee and the hope and prayer of a few for some kind of token offshore gas rig to show "you've got some too!"....again, and

5) We operate on a slightly different timezone, and

6) you can get to Bali and Thailand cheaper from here, and

7) and other excuse an East Coaster would like to chuck out there.

.....i'd like you to show me how WA has been a "drain" on the economy since the dollar was floated.

 

[FormerLurker]

but at least the wa government then gets to choose what it spends the money on - instead of having to grovel for a pittance from the federal government ... who then tells them what they have to build.

hoping nsw follows suit!

I agree completly Lizzie I'd much rather have the state government spending it then the inept Federal mob.

 

[Belbo]

so, aside from the facts that....

1) WA's skill pool was decimated in the 80s and late 90s by East Side poachers who left nothing for WA to flourish with,

barring a tango-line of hyper-leveraged monkeys!

2) WA's funding has always been under-par for what it gives to the nation as a whole,

if you're prepared to ignore over a decade of profligate GST banana-mushroom sundaes!

3) East Coasters still see it as a backwater because we like our weekends to enjoy our beaches and don't de-regulate trading hours so all we do is work,

like it's 1999 at a Full Moon party in Thailand!

4) "Good times" of the 80s and late 90s were shared by all, unsure what you mean by "bad times" because last I checked, outside of ore and gas, we still had a bucket load of meat, wool and grain to sell, while Sydney still tries to sell margin from currency trades and coffee and the hope and prayer of a few for some kind of token offshore gas rig to show "you've got some too!"....again,

until competent management becomes imperative, East Coasters please come hither!

5) We operate on a slightly different timezone,

and mind chemistry, let it be said!

6) you can get to Bali and Thailand cheaper from here,

and that's what I'm talking about, Zeebop!

7) and other excuse an East Coaster would like to chuck out there,

such as the transcendent imperative of national economic reality!

....I'd like you to show me how WA has been a "drain" on the economy since the dollar was floated.

That's unfair: The bumpkins have never had a future without us, so we've kept them afloat until they started earning their way again. Just as we have between boom (and bust) and boom (and bust) and boom. Who knew?!

 

[Ausprop]

and the USD rules the financial high seas. A bastion of strength and a harbour offering safe sanctuary in troubled times.

 

[Belbo]

Damned! Time to get my savings out of Sterling. How's Zimbabwe doing, again?

 

[Ausprop]

yeh GBP is a disaster... a shame for all the 20 year olds heading over there, it use to be a great way to pay off your first house. now you are better off staying in Oz.

 

[charlieandkath]

I say good on WA. Why would they want to give money to a Government that is exactly like the dismal and money wasting NSW Government we just had for 16 years. NSW is a basket case - please don't let Australia become a basket case.

 

[Kent Cliffe]

There is absolutely no doubt that WA would end up in a better financial position if the finances were separated.

The argument about boom and bust (east supporting WA in a downturn) is flawed. Even if the WA economy was to halve in size, if WA was collecting federal tax, the WA Govt would have even more revenue then it has at the moment.

Having a federal government is the biggest was of money of all, what is the true need of the ACT? We could make SA the federal state and the bureaucracy would help support the struggling economy. Logistically it is the in the middle of Aus as well as the central time zone. Finally, we wouldn’t have to keep sinking funds into ACT.

A fun little fact for you, we have the highest capitalist ratio of Govt workers to population. The only countries which surpass us are socialist/communist. That metric suggest we clearly have a wasteful political system.

Oh and another fun little fact, which state/territory has the highest average income?


“I can tell you you're not spending it that well that we should be donating extra.” – Kerry Packer

 

[jaycee]

There is absolutely no doubt that WA would end up in a better financial position if the finances were separated.

The argument about boom and bust (east supporting WA in a downturn) is flawed. Even if the WA economy was to halve in size, if WA was collecting federal tax, the WA Govt would have even more revenue then it has at the moment.

Having a federal government is the biggest was of money of all, what is the true need of the ACT? We could make SA the federal state and the bureaucracy would help support the struggling economy. Logistically it is the in the middle of Aus as well as the central time zone. Finally, we wouldn’t have to keep sinking funds into ACT.

A fun little fact for you, we have the highest capitalist ratio of Govt workers to population. The only countries which surpass us are socialist/communist. That metric suggest we clearly have a wasteful political system.Who are example countries Kent ?

Oh and another fun little fact, which state/territory has the highest average income?


“I can tell you you're not spending it that well that we should be donating extra.” – Kerry Packer

Wouldn't that simply result in us just having to sink funds into Adelaide & SA instead Canberra and the ACT ? 6 in one hand, 1/2 a dozen in the other ?

 

[Kent Cliffe]

Outside of the public sector, what other services does Canberra value add to the economy?

If you have they Keynes view of crowding in, putting such a large industry would help stimulate other industries around it. As we have seen decline in manufacturing and other areas of the SA economy this would help counter that.

Although, it wouldn't be efficient to actually just jump up and leave Canberra, it would make economic sense now in the age of digitalisation. The principle which would make this efficient is that with SA you would save on the subsidised manufacturing and GST revenue.

Those stats were in a journal article I read a few months back. I did a bit of digging and can’t seem to find it, however I found this ABS stuff:
http://www.abs.gov.au/AUSSTATS/[email protected]/productsbyCatalogue/389EBF5407C7D5AACA25755A000D09CC


These stats don't take into account other sectors of government/private employment, such as Public Healthcare. However to crunch the rough numbers, it puts about 17% of employed persons in the public sector, comparing that to the US which is around about 8%.

 

[Aaron Sice]

Canberra implements, regulates and distributes taxation and public policy.

 

[jaycee]

Canberra implements, regulates and distributes taxation and public policy.

And I doubt that just by us chosing to move this fuctcion to another location that we would remove all their inefficiency and save us all the wasted $ ..


Who are the socialist & communist countries we mirror in terms of # of public servants Kent ?