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NEWS PAPER OR MEDIA ARTICLES, ANYTHING INTERESTING
early birds
post Posted: Yesterday, 08:03 AM
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https://www.afr.com/politics/federal/florid...20210305-p577z0

Powerful quake hits off New Zealand
AP

A powerful magnitude 8.1 earthquake struck in the ocean off the coast of New Zealand on Friday, prompting some evacuations and tsunami warnings across the South Pacific.

It was the second large quake to strike within hours. An offshore magnitude 7.3 quake had awoken many people during the night throughout New Zealand. While both quakes triggered warning systems, neither of them appeared to pose a widespread threat to lives or major infrastructure.


Civil defence authorities in New Zealand told people in certain areas on the East Coast of the North Island on Friday morning that they should move immediately to higher ground and not stay in their homes. They said a damaging tsunami was possible.

The US Tsunami Warning System also cautioned that the larger quake could cause tsunami waves of between 1 to 3 metres in French Polynesia and waves of up to 1 metre in Niue, New Caledonia and the Solomon Islands.

The US Geological Survey said the larger quake was centred in the remote Kermadec Islands at a depth of 19 kilometres.

Officials in New Zealand had hours earlier issued a tsunami warning for coastal areas after the smaller earthquake struck off its northeastern coast at about 3am on Friday. There were no immediate reports of serious damage or casualties and the warning was later lifted just before the larger quake struck.

The US Geological Survey said the earlier quake was centred at a depth of 21 kilometres under the ocean about 174 kilometres northeast of the city of Gisborne.

The earlier quake was more widely felt in New Zealand, and residents in the major cities of Auckland, Wellington and Christchurch reported being shaken awake.
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when i saw this sad news, i start to remember a old clip that drived me tears, even i don't have religion
Hlayley really used her performance to convey the message through-----to re--build hometown !!

https://www.youtube.com/watch?v=5mnTKN8LuiY

the best a cappella i've seen [ just me]

 
mullokintyre
post Posted: Mar 2 2021, 03:35 PM
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In Reply To: tombeet's post @ Mar 2 2021, 02:25 PM

I am a retiree, and most certainly agree.
My wife, a pharmacist, has for years been dealing with the children of elderly parents who put them in the cheapest home they can find, then quibble about any medicines or non prescriptive health related items.
The main reason, being they don't want to see their inheritance go to keeping their parent(s) in comfort.
Taxpayers should not be paying for aged care, at least not if the aged person has assets.
I notice Albo has mooted the idea of a levy on taxpayers to pay for aged care.
Like the Medicare levy, which was supposed to be temporary, it will just be swallowed up into revenue, and the aged care sector will still get screwed.
You only have to look at what happens with the petrol levy was supposed to go to road funding.
Well of course the amount raised in the petrol levy far exceeds the amount spent on roads.
Governments of all persuasions just keep spending money without any chance of ever getting their budgets in order, its in their DNA.
Mick



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sent from my Olivetti Typewriter.

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tombeet
post Posted: Mar 2 2021, 02:25 PM
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Retirees can afford to pay for aged care. Workers can’t
QUOTE
]
It would be odd if grandparents left tax-free inheritances to their adult children while their grandchildren pick up the extra aged care tax bill while struggling to pay for homes and to raise families.
Before contemplating tax rises of tens of billions of dollars to deliver better aged care, Australians must talk honestly about the fact that many retirees have the wealth to pay more for care in their twilight years.

The $3 trillion (and rapidly rising) in superannuation savings and trillions of dollars more in home equity must be deployed under a shift towards a user-pay aged care system, while improving the public safety net for the truly less-well off.


It would be odd if grandparents in their 80-90s bequeathed generous tax-free inheritances to adult children in their 50-60s, while grandchildren in their 20-30s picked up the extra aged care tax bill while struggling to pay for homes and to raise families.

Most retirees die with most of their wealth intact, do not run down their superannuation or tap equity in their home, and leave large bequests to children who happen to win through the lucky life lottery, the government’s retirement income review shows.

Whacking another hypothecated tax on working-age people who are already battling to pay for mortgages and raise children, without reforming the unsustainable tax and aged care systems, would be lazy policy and fail to fix the underlying problems.

Higher income taxes would place an even larger burden on younger and future generations who are already lumbered with a projected $1.7 trillion federal government debt following the COVID-19 recession.

Super for over 60s is tax free
Moreover, there are existing gross intergenerational inequities in the tax and welfare system.

People aged over 60 pay zero tax for the rest of their lives on superannuation thanks to extremely generous concessions introduced by John Howard and Peter Costello (chairman of Nine, owner of The Australian Financial Review).

In contrast, working-age people are often stung by the tax office for between a quarter and almost half of their income.

This is not sustainable, particularly as life expectancy rises and the cost of medical care grows.

There will be fewer working-age people supporting more retirees, Treasury’s 2015 Intergenerational Report shows.

In 1975, there were 7.3 people aged between 15 and 64 for every Australian aged 65 and over. In 2015, that working-age-to-retirement ratio had fallen to about 4.5, and by 2055 it is projected to further fall to 2.7.

Moreover, there is a sizeable share of retirees who live in multimillion-dollar homes and who enjoy healthy superannuation balances.

The role for government is to help retirees tap into their superannuation and home equity.

Many retirees are asset rich but cash poor
An obvious reform is to broaden the government’s Pension Loan Scheme to allow home-owner retirees to release some of their equity to pay for the aged care Daily Access Payment (DAP) or Refundable Accommodation Deposit (RAD).

Contrary to scare campaigns, this would not involve prematurely booting the elderly out of their homes or leaving zero inheritance for their children.
Good idea guys?


Said 'Thanks' for this post: mullokintyre  early birds  
 
mullokintyre
post Posted: Mar 2 2021, 01:10 PM
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The conspiracy folk have repeatedly said that giving up freedoms under the blanket of COVID 19 emergency measureb"were just the thin edge of the wedge".
Well, now the WA Premier, Mark McGown has just given them some more ammunition.
From Todays Australian

QUOTE
WA premier Mark McGowan is looking to extend the state’s border controls beyond the pandemic, flagging that approvals and tracking of interstate arrivals may become permanent.

Mr McGowan said he was in discussions with the state’s police commissioner over whether the ‘G2G’ system - under which the entry of visitors into the state is logged - could remain indefinitelyHe said the border rules had had a dramatic impact on the importation of drugs into the state.

‘We have obviously had a significant reduction in meth usage in Western Australia, part of that is the measures we’ve already taken, our meth action plan but also the border measures,’ he said at a press conference on Tuesday.

‘The police commissioner and I will continue to talk about what can be done to protect the state from the scourge of meth and other drugs and if necessary we will look at measures we can bring in should we be re-elected.’

He said drug use in WA had reduced markedly over the course of the pandemic due to disruptions of supply, and expanding the border restrictions could help maintain that progress.

‘If civil libertarians and the like don’t like that, my argument would be that keeping meth out of Western Australia is very very important,’ he said.

The High Court ruled last year that WA’s border restrictions were constitutional due to the pandemic, and Mr McGowan said he would seek legal advice as to whether stopping the import of drugs would be similarly valid.

‘Meth is a threat to people’s health and we’ve had a 25 per cent or thereabouts reduction in meth usage, so some of the measures we’ve put in place have worked so we will continue to look at what can be done to keep the people safe from meth across WA.’

He said vehicles crossing the border into WA were already searched for fruit and vegetables, and searches could be expanded to illicit drugs.

The comments come ahead of the March 13 state election.


Looks like the power of incumbency and almost universal approval rating has gone to his head.
I would not cross the border if I am to be treated like an alien.
Mick






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sent from my Olivetti Typewriter.
 
nipper
post Posted: Feb 18 2021, 06:46 PM
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In Reply To: mullokintyre's post @ Feb 18 2021, 05:46 PM

The Chinese leadership doesn't like us.
The EU bureaucrats don't like us; how dare we receive the vaccine we have paid for.
The Google crowd don't like us, for similar reasons to FakeBook

Must be doing something right smile.gif



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: mullokintyre  
 
mullokintyre
post Posted: Feb 18 2021, 05:46 PM
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So, what are number 7 and no 32 from most popular google searches in the world.
No 7 Is how to delete an Instagram account.
No 32 is How to delete a Facebook account.

reckon No 32 will be pretty high on the OZ list.

It is most unfortunate that I deleted my FB about 7 years ago, other wise today I would have had great delight in telling that little shit Zuckerberg to shove it, just prior to deleting my account.

Mick



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sent from my Olivetti Typewriter.
 


henrietta
post Posted: Feb 10 2021, 08:38 PM
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In Reply To: mullokintyre's post @ Feb 10 2021, 07:58 PM

Not me ........... I only said that they weren't smart. Cunning is another matter entirely.

Cheers
J



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"Sometimes I sits and thinks, and sometimes I just sits." Satchel Paige

"No road is long with good company." Traditional
 
mullokintyre
post Posted: Feb 10 2021, 07:58 PM
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I have never been a big fan of the ABC in general and Michael Rowland in particular, but in this instance he was perfectly legit.
Rowland asked Mr Hunt “why did he feel the need to attach a Liberal Party logo to an Australian government announcement” last week that it had secured an additional 10 million doses of the Pfizer vaccine.
This was a perfectly legitimate question, but Hunt merely accused Rowland of being a typical leftie.
That may well be true, but it is irrelevant.
The coalition needs to ask themselves why was the logo attached?
Now they have two problems instead of one.
Who said Pollies are dumb?
Mick




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nipper
post Posted: Feb 10 2021, 01:46 PM
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they seem to keep popping up
QUOTE
A man will face an Adelaide court after he was allegedly caught driving while disqualified, unregistered and uninsured, and with a defaced number plate featuring the words: "Not Stolen OK".

SA Police said patrols spotted a Mitsubishi sedan travelling along a main road and without its lights on in Adelaide's north just after 2:00am.


https://www.abc.net.au/news/2021-02-10/sa-d...-plate/13139874



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Feb 6 2021, 05:58 PM
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From Wall street on parade
QUOTE
This morning we decided to take a look to see if the SEC was potentially aware of naked short selling in the shares of GameStop – the subject of House and Senate investigations and a hastily called meeting of regulators yesterday by U.S. Treasury Secretary, Janet Yellen, who also holds the position as Chair of the Financial Stability Oversight Council.

It turns out that GameStop shows up on the SEC’s list of “Fails-to-Deliver,” a report that raises suspicions (but not conclusive proof) that somebody was engaging in naked short-selling in the shares of GameStop.

GameStop’s market cap spiked from $2 billion to $22.6 billion in a matter of days in January. Along the way, a large hedge fund, Melvin Capital, which was short the stock (a bet that the price would decline) had to be bailed out by Ken Griffin’s Citadel hedge fund, while a related company, Citadel Advisors, was also net short the stock. This week GameStop shares have been plunging back to earth. Adding to the cries of foul play, devotees of a Reddit message board, WallStreetBets, who had been hawking GameStop’s future prospects and buying the stock, had restrictions placed on their ability to buy any sizeable number of shares by their favored trading app, Robinhood, which directs the bulk of its trades to Citadel Securities for execution.

In order to sell a stock short, your brokerage firm has to loan you the stock. The stock is typically borrowed from the brokerage firm’s own inventory, the margin account of other brokerage firm clients, or another lender. If the price of the stock declines, the short seller can buy the stock back at the lower price and make a profit. If the price of the stock rises, the short seller will lose money. Because there is no cap on how high the price of a stock can go, the short seller is taking on unlimited risk.

In a naked short sale, the broker handling the trade for the customer does not borrow or arrange to borrow the securities in time to deliver the shares to the buyer on the other side of the trade within the standard three-day settlement period. This is what is meant by Fails-to-Deliver, also known as simply “fails,” which can be a red flag of naked short-selling.

According to the latest Securities and Exchange Commission data for Fails-to-Deliver, GameStop has been experiencing huge fails to deliver since at least December 18, when an aggregate of 872,523 shares had failed to deliver on their settlement date. The figure of fails had been 10,874 just two days earlier, on December 16.

The SEC reports the fails to deliver data twice a month. The most recent data runs through January 14 of this year. On that date, GameStop still had an aggregate of 621,483 shares that had failed to deliver.

The SEC explains the following about how persistent fails to deliver are to be dealt with under its rules:

“Rule 203(b)(3) of Regulation SHO requires that participants of a registered clearing agency must immediately purchase shares to close out failures to deliver in securities with large and persistent failures to deliver, referred to as ‘threshold securities,’ if the failures to deliver persist for 13 consecutive settlement days. Threshold securities are equity securities that have an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency (e.g., National Securities Clearing Corporation (NSCC)); totaling 10,000 shares or more; and equal to at least 0.5% of the issuer’s total shares outstanding.”

According to Yahoo Finance, GameStop has 69.75 million shares outstanding, meaning that it has not only far exceeded the 10,000-share threshold but that it has also exceeded the 0.5 percent of outstanding shares threshold.

It’s time for Sherrod Brown, the new Chair of the Senate Banking Committee, and Maxine Waters, the Chair of the House Financial Services Committee, to do far more than whisper to the SEC, “Do something.”


So, we have a new regime in the White House.
But really nothing changes.
Biden made more executive orders in his first 15 days than the last four presidents put together.
No 22, Eliminating the use of Private Run prisons is probably the only one that might hep the poor.
nothing about governance of Banks, Hedge funds , dark pools, and tax avoidance.
In the meantime, the wealthy scions just keep right on screwing everyone else with the connivance of the governance bodies.
Welcome to the 'New" America.
Mick
Nothing about




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sent from my Olivetti Typewriter.
 
 


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