Heretic! Burn him!
I dont know my way around economics well enough to appreciate all the details of that, but none of it surprises me. Nothing solved, can kicked down the road at best - more likely real economic damage locked in long term.
If you really want to dig into the housing bubble stuff this podcast is very interesting.. The aussie bank lending was atrocious before apra/asic stepped in then the royal commission;
josephnoelwalker.com
The terms of reference for the RC was written by the Libs. It was never going to get to the bottom of the rot. Hayne did what he could. Asic and apra came out just as bad as the banks..
Can confirm: I vote(d) in Gilmore, which was a pretty marginal seat, and even when I went to the polls a week early there were heaps of political muggers out front handing out their 'how to vote' cards. Usually the week before you're free to walk through un-accosted!
Palmer is an easy target for the media but I can tell you that Palmer didn't pay for the exploration drilling for coal mid way to south of the basin . They're bigger fish than him that are doing way worse and there's not a whisper of that in the media.
True, but are they overtly buying votes?
Why do you care that he wasted his money?
He did not waste his money, it was an investment with excellent returns.
Palmer's claiming that his plan all along was a scare campaign against Labor to ensure a Liberal victory. Makes sense.
So he is now relying on the Qld LABOR govt to grant his approvals? What returns?
The Libs rushed through some approvals for Adani just before the election and now after their drubbing in the election Qld state Labor are pushing for approval to appease their base. Is Clive smart enough to have predict the Labor reaction post election, I don't think so but it's worked in his favour.
I think it's the wedge Clive hoped for. He is lobbying for mines, power stations, export infrastructure, and anything else that will compliment or contribute to his current investment spread. If they approve Adani, he has leverage for his mining hopes. If they don't approve it, perhaps a smaller mine in line with Clive's style will get up and still offer jobs etc. There's a lot of outcomes that he can have a direct or indirect benefit for him.
I wonder if Clive enjoys gambling? I'd say he hedged his bets and took a punt, which has probably paid out quite well. If the governement had changed and Labor followed through with their planet saving agenda, he would've been shit out of luck. They may even have started an irreversible slide to a greener future...this wouldn't have been a great thing for someone so deeply invested in coal.
I don't think that is limited to Qld...there'll be a lot of naval gazing going on.