Prickonomics!

Me in the Daily Telegraph again, today talking about Joe Hockey’s populist economics:

THREE months after an election that has delivered us a new government, Australians could be forgiven for thinking that for all that has changed, not much has changed at all.

In office sits a government that seems overly fond of intervening in the market and increasing tax takings. In opposition, meanwhile, shadow ministers thunder about the need for reform and for the state to get out of the way.

Yesterday, Treasurer Joe Hockey knocked back US agribusiness giant Archer Daniels Midland’s bid to buy east coast grain distributor GrainCorp.

Earlier in the week, he met with state and territory treasurers to discuss imposing GST on overseas internet purchases worth less than $1000. And in an attempt to shore up Qantas, Hockey also floated the idea of buying back – with taxpayer money – up to 10 per cent of the airline’s shares to help it compete with competitors like Virgin Australia.

Read on

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2 Responses to Prickonomics!

  1. Free Advice says:

    I figure that if they’re American, then they can buy whatever they like.
    It’s not like you can take it out of the country.
    Especially land, property or ports.

  2. Mike Farrell says:

    I am in two minds over your article Chief Prick in today’s Daily Terror. Having come from an agrarian backgroud (living next door and working on to my uncle’s dairy farm) under the socialist governments of Sir Robert Menzies and Malcolm Fraser, I am in two minds on on GrainCorp and one mind on Qantas.

    Once a right wing member of the Liberal Party (state council etc) and then the National Party (the Liberal Party became too right wing – ROFLMFAO), I see both sides, especially after being a country accountant in public practice like Barnaby.

    The once great wool and wheat boards are long gone. They were able to manipulate world markets using supply and demand to get the greatest benefits for their growers. Now they , the growers, are at the mercy of offshore manipulators, strangely enough, including ADM. ADM has been shown to be crooked by various United States governmental bodies. Why should we grant control to them over our east coast silos, ports etc. Hockey made the right decision.

    But when it comes to Qantas, I am in total agreement. All these people lamenting the state QF is in. But then, they dont fly QF. It only has 18% of the international market, but retains 60% of the domestic market. It is a commercial body. Why dont we give commercial loan guarantees to the local butcher or candlestick maker.

    An excellent article, but I will still come down on the side of agrarian socialism every time, even though all internet sites that have quizzes on politcal matters say I am a center-right Libertarian.

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