Australian news and politics.

[erogenouszone]

Sussan Ley's attack on Anthony Albanese for wearing a Joy Division T-shirt has divided the Coalition, with some Liberal MPs privately questioning their leader's judgement.

What a fucking cantankerous Karen. If she had half a brain Albo is an Inner Westie through and through. Black band tshirts are part of the furniture around there.

 

[Football us life]

Sorry, was this:

Yeah...no....

 

[Monoethnic Social Club]

Sorry, was this:

Cicciolina? hahahahahahah

 

[tsf]

Cicciolina? hahahahahahah

the one and only!

 

[tsf]

The country has been largely so much more stable under the current government. The LNP was a disaster - there was bullshit every week with those clowns fighting each other or doing something stupid. What have they got now, a band t-shirt to complain about?

Two things that it would be good to see them tackle:

Corporate tax
Union Corruption

 

[Football us life]

The country has been largely so much more stable under the current government. The LNP was a disaster - there was bullshit every week with those clowns fighting each other or doing something stupid. What have they got now, a band t-shirt to complain about?

Two things that it would be good to see them tackle:

Corporate tax
Union Corruption

I agree. The way in which Albanese has held together the various factions within his party has been very impressive. Any political leader who can do this, particularly in these days of constant challenges in terms of faction hatmony, within the mainstream parties is worth his weight in gold!!

 

[Muz]

The country has been largely so much more stable under the current government. The LNP was a disaster - there was bullshit every week with those clowns fighting each other or doing something stupid. What have they got now, a band t-shirt to complain about?

Two things that it would be good to see them tackle:

Corporate tax
Union Corruption

Agree about both of those but...........

Giant majority for the first time in decades and they've got almost zero ambition.

Fucks sake have a crack at changing the country for the better. Reform the tax system like every review over the past 3 decades has recommended. Grandfather investment properties and cap them at 1 or 2 per investor, and a hundred other things. Increase the GST, fuck off payroll tax, increase royalties on gas and minerals, build more social housing.

Do something about fucking poker machines and sports betting. Fix aged care, introduce dental into medicare. Raise taxes if they have to. Build a sovereign wealth fund.

Reform 'jobs for the boys' where every politician is banned for 10 years as working for as a lobbyist or for a company in a related ministry they were in.

They're taking the don't do anything controversial and get re-elected route. Ridiculous.

Yes we're stable for the first time in yonks but our kids are fucked when it comes to housing and standard of living. But who cares right, they're kids.

For the first time ever that generation is going to be worse off than their parents.

Come on Albo fucking do something. Love or hate Rudd he got us the NBN and did the apology to the stolen generation. Even Tony Abbot will be remembered for stopping the boats.

 

[Jetsfan]

At risk of annoying all you lefties, try googling Joy Division, concentration camp

 

[Keeper66]

Giant majority for the first time in decades and they've got almost zero ambition.

Fucks sake have a crack at changing the country for the better. Reform the tax system like every review over the past 3 decades has recommended. Grandfather investment properties and cap them at 1 or 2 per investor, and a hundred other things. Increase the GST, fuck off payroll tax, increase royalties on gas and minerals, build more social housing. Do something about fucking poker machines and sports betting. Fix aged care, introduce dental into medicare. Raise taxes if they have to. Build a sovereign wealth fund. Reform 'jobs for the boys' where every politician is banned as working for as a lobbyist or for a company in a related ministry they were in.

They're taking the don't do anything controversial and get re-elected route. Ridiculous.

Yes we're stable for the first time in yonks but our kids are fucked when it comes to housing and standard of living. But who cares right, they're kids.

For the first time ever that generation is going to be worse off than their parents.

Come on Albo fucking do something. Love or hate Rudd he got us the NBN and did the apology to the stolen generation. Even Tony Abbot will be remembered for stopping the boats.

Tend to agree with most of this. Need to do some nation building to improve the country for everyone, can't just keep treading water. Tax reform (especially getting multinationals to pay a fair share) and housing should be top of the agenda.

 

[Muz]

At risk of annoying all you lefties, try googling Joy Division, concentration camp

Yes Albo should resign and pay penance to Israel.

Now do Dead Kennedys.

 

[Monoethnic Social Club]

Now do Dead Kennedys

Or 10cc or Butthole Surfers,

Bands like to be edgy... wow.

 

[Muz]

Or 10cc or Butthole Surfers,

Bands like to be edgy... wow.

Lol.

There's some corkers here.

The 225+ Worst Band Names Ever

With the ridiculous multitude of options for consumers, not just among the diverse crop of musical acts, but all of the different ways of discovering new music, picking the right band name is more important than ever. There are lots of requirements: For instance, the best band names have to be...

www.ranker.com

 

[Monoethnic Social Club]

Lol.

There's some corkers here.

The 225+ Worst Band Names Ever

With the ridiculous multitude of options for consumers, not just among the diverse crop of musical acts, but all of the different ways of discovering new music, picking the right band name is more important than ever. There are lots of requirements: For instance, the best band names have to be...

www.ranker.com

Jesus, I cant decide if I wanna look up Elvis Hitler or Adolf Satan... hahahahaha

 

[Muz]

Lol.

There's some corkers here.

The 225+ Worst Band Names Ever

With the ridiculous multitude of options for consumers, not just among the diverse crop of musical acts, but all of the different ways of discovering new music, picking the right band name is more important than ever. There are lots of requirements: For instance, the best band names have to be...

www.ranker.com

Hard to beat 'The Child Molesters' but 'Anal Cunt'?

WTF?

 

[patjennings]

Agree about both of those but...........

Giant majority for the first time in decades and they've got almost zero ambition.

Fucks sake have a crack at changing the country for the better. Reform the tax system like every review over the past 3 decades has recommended. Grandfather investment properties and cap them at 1 or 2 per investor, and a hundred other things. Increase the GST, fuck off payroll tax, increase royalties on gas and minerals, build more social housing.

Do something about fucking poker machines and sports betting. Fix aged care, introduce dental into medicare. Raise taxes if they have to. Build a sovereign wealth fund.

Reform 'jobs for the boys' where every politician is banned for 10 years as working for as a lobbyist or for a company in a related ministry they were in.

They're taking the don't do anything controversial and get re-elected route. Ridiculous.

Yes we're stable for the first time in yonks but our kids are fucked when it comes to housing and standard of living. But who cares right, they're kids.

For the first time ever that generation is going to be worse off than their parents.

Come on Albo fucking do something. Love or hate Rudd he got us the NBN and did the apology to the stolen generation. Even Tony Abbot will be remembered for stopping the boats.

There is a huge agenda to be had. But in reality that huge majority is illusory when you consider the media these days.

NACC reform - achievable now. Greens and crossbenchers will support and are in fact pushing it.

Real tax reform problematic - needs bipartisan and careful implementation because of the tie-in to super balances. but some things are achievable now. Cover dental with Medicare is something that needs to be done. Even if you have to raise the Medicare level for a while the returns on overall health will lead to lower long-term health costs over time.

The Grattan tax reforms need to be re-visited and inplemented. They will not only help with less tax foregone but the savings can be used to accelerate supply side social housing.

GST Reform is the last thing that should happen. It is a lazy and truly regressive tax that hits the poorest most. In reality we should be cutting GST incremently until it is zero. Raise higher tax brackets and limit deductions across the board.

To be honest the kids will be fine - it is the Generation Jones that have been screwed royally - born 1956-1964 at the tale of the boomers and the GEN X 1965-1980 that have will suffer the most.

This is how they were screwed,

1. Tax Duping: Bracket Creep + GST Shift (1996–2001) Policy What Howard Did Real Effect on Battlers Bracket Creep Froze tax thresholds 1996–2000 → $8–10 bn stealth tax from wage earners Lost $15–25/week in real income GST (2000) Abolished corporate WST → $6–8 bn p.a. corporate windfall Introduced 10% consumer tax +2–3% price rise → $20–30/week extra "GST Compensation" (2000–01) Gave $12 bn tax cuts — half was returning bracket creep Net loss: only $5–10/week real gain, not full offset Result: Disposable income squeezed → families borrowed more to keep up. 2. IR Duping: WorkChoices (2005–2007) Change What It Meant Individual contracts (AWAs) Bosses could cut penalty rates, overtime, shift loadings Unfair dismissal weakened Easier to sack workers with <100 employees Union power gutted Fewer protections, wage growth slowed RBA data: Real wage growth for bottom 40% of earners fell 2005–2007 while top 10% surged. Battlers lost bargaining power → stagnant wages → relied on debt to cover rising costs. 3. Housing Duping: Negative Gearing + 50% CGT Discount (1999) Policy What Howard Did Effect on Housing Negative gearing Kept full tax deductions for investment losses Encouraged speculative buying CGT Discount (1999) Halved tax on gains (from 48% → 24% effective) Flood of investors into property Outcome: Housing Bubble Explodes Metric 1996 2007 Increase Sydney median house ~$220k ~$520k [td] 136%​

Melbourne	~$170k	~$420k
Avg. new loan	~$150k	~$300k
Price-to-income ratio	4.5x	7.5x
Investors outbid first-home buyers → battlers locked out or forced into massive debt.
4. Debt Duping: Low Rates + Income Squeeze = Leverage Trap
Year	RBA Cash Rate	Variable Mortgage Rate	Avg. Monthly Repayment (on $250k loan)
2000	6.00%	~7.0%	~$1,650
2003	4.75%	~5.5%	~$1,400
2007	6.5% → 7.25%	~8.0–8.5%	~$2,000–$2,050
2001–2003: Low rates → "borrow more to buy in"
2006–2007: Hikes → repayments up $400–600/month
Household debt-to-income: 90% (1996) → 160% (2007)
RBA (2008): "Rising household leverage was driven by declining real disposable income
growth and housing supply constraints."

[td]
147%

[/td]
[td]
100%

[/td]
[td]
67%

[/td]​

[/td]



After this you have to look at the Super changes to get the extent of the pup that was sold and how the GFC exacerbated the situation. super saved the economy not the piffling 'Future Fund' and is still much better to ride turmoil than the 'Future Fund'.

	FINAL, COMPLETE SUMMARY: The 7-Layer Dupe
Layer	Policy	Who Won	Who Lost
Tax	Bracket creep + GST	Corporates	Battlers
IR	WorkChoices	Bosses	Workers
Housing	NG + 50% CGT	Investors	First buyers
Debt	Rate hikes	Banks	Mortgagees

Now look at the gutting of super and the effect on intergeneration wealth Costello talked a lot but he stuffed our future. These super changes hurt. I was not a battler - I was on a decent wage.

But look at the overall scheme

Intergenerational Wealth Impact: Keating Full Super Plan vs Howard/Costello Reality1996–2050 | Full Economic & Social Accounting

​

---

CORE CONCLUSION (UPFRONT)

Metric	Keating Full Plan (15% SG + 3% Govt)	Howard/Costello Reality (9% frozen)	Intergenerational Wealth Gap
Private Wealth per Retiree (2050)	$1.8M	$0.9M	+$900k
Public Debt per Person (2050)	–$60k (surplus)	+$85k	–$145k
Net Wealth Transfer (to kids)	+$1.2M (house + super)	+$0.4M	+$800k
Total National Wealth Gap (2050)	+$3.8T	–$1.2T	+$5.0T

Keating = Wealth-Creating Machine
Howard/Costello = Wealth-Destroying Trap
Net Intergenerational Theft: $5 Trillion

​

---

1. Private Wealth: Super + Housing (Per Worker, 2025 $)

Asset	Keating Plan	Howard/Costello	Gap
Super at 65 (2050)	$1.8M	$0.9M	+$900k
Home Ownership	85% (affordable)	60% (priced out)	+$1.2M equity
Total Private Wealth	$3.0M	$1.4M	+$1.6M

Keating worker retires with $3M in assets
Costello worker: $1.4M + $400k mortgage = $1M net

​

---

2. Public Wealth: Debt & Fiscal Space

Metric	Keating	Costello	Gap
Net Debt 2050 (% GDP)	–60%	+80%	–140%
Debt per Person	–$60k	+$85k	–$145k
Annual Interest Savings	$80B/year	–$60B/year	+$140B/year

Keating = $2.2T surplus
Costello = $2.2T debt
Kids inherit cash vs tax burden

​

---

3. Wealth Transfer to Next Generation (Per Family)

Transfer	Keating	Costello	Gap
Super Bequest	$1.8M	$0.9M	+$900k
House Bequest	$1.2M	$0.5M or $0	+$700k
No Pension Drain	+$360k (lifetime)	–$360k	+$720k
Total to Child	$3.36M	$1.04M	+$2.32M

​

---

4. National Wealth Gap (2050)

Category	Keating	Costello	Gap
Total Super Pool	$12T	$6T	+$6T
Housing Equity	$15T	$10T	+$5T
Public Surplus	+$2.2T	–$2.2T	+$4.4T
Total National Wealth	+$29.2T	+$13.8T	+$15.4T

Keating = $15T richer Australia
Costello = $15T poorer

​

---

5. Inequality Impact (Gini Coefficient)

Year	Keating	Costello	Gap
2007	0.30	0.32	–0.02
2024	0.28	0.35	–0.07
2050	0.25	0.40	–0.15

Keating = fairer society
Costello = boomer vs millennial war

​

---

6. Real-World Proof: 2025 Snapshot

Metric	Actual (Costello Path)	Keating Counterfactual	Gap
Median Super (55–64)	$200k	$520k	+$320k
Home Ownership (25–34)	35%	65%	–30%
Net Debt	20% GDP	–10% GDP	–30%

​

---

7. The $5 Trillion Intergenerational Theft

Theft Type	Amount	Per Person
Super Lost	$6T	$230k
Housing Lost	$5T	$190k
Debt Added	$4.4T	$170k
Total	$15.4T	$590k

Every Australian born after 1980 lost ~$590,000 in lifetime wealth
Because Howard/Costello froze super at 9%

​

---

This is the big one for me.

4. National Wealth Gap (2050)

Category	Keating	Costello	Gap
Total Super Pool	$12T	$6T	+$6T
Housing Equity	$15T	$10T	+$5T
Public Surplus	+$2.2T	–$2.2T	+$4.4T
Total National Wealth	+$29.2T	+$13.8T	+$15.4T

Keating = $15T richer Australia
Costello = $15T poorer


FINAL VERDICT: The $1.2 Trillion Lie

Claim	Truth
"Keating plan was unaffordable"	False — cost <1% GDP, saved >2%
"Howard saved the budget"	False — created $1.2T debt hole
"Super grew anyway"	True — despite Howard, not because of him

Keating’s plan would have:

• Paid for itself in 7 years
• Made Australia debt-free by 2040 and adds 1.5% of GDP to the surplus each year
• Saved $1.2T in debt interest alone

Howard/Costello chose surpluses in 2007… and deficits forever.

Battlers paid with their super. Their kids pay with debt.

Keating’s vision was fiscal gold. Costello buried it.

Now think what could be done with that extra 1.5% of GDP year on year. Dental on Medicare, increased investment in housing, raising the rate on support payments, proper aged care. Age pension itself would be disappearing to a very large extent as the population grows older.

These decisions were made years ago and hamstring today’s decisions. You just can’t play at the edges but it is dangerous for a government to do anything else given todays media bias.

It needs bi-partisan support for action – but that will never happen when the ‘great Liberal PM and Treasurer' are implicated in such a monumental fuck up.

 

[tsf]

At risk of annoying all you lefties, try googling Joy Division, concentration camp

Suddenly snowflakes care about their band name

 

[zimbos05]

At risk of annoying all you lefties, try googling Joy Division, concentration camp

LNP are happy to screw over medicare, housing, run away during bushfires, shit on social welfare, exacerbate climate change, and support literal right wing nazi ideology, but wearing a band t-shirt is where they draw the line.

The name also comes from a novel, not a real life concentration camp. The author came up with the name to describe the brothels.

 

[erogenouszone]

Union Corruption

The largest superannuation funds in the country are union backed.

 

[Muz]

First Newscorp tried to buy them now Sportsbet.

The offer from Sportsbet? $34.5 million. The beetoota told them to jam it.

They're running scared because they can't control them.

Good lads.

 

[erogenouszone]

They want to buy a satirical website? What a bunch of parasitic soft cocks.

They're going to have a field day, fuck I hate sports gambling.