Hi everyone
To my dear readers who read this blog, as I have already moved to another blog address, I just want to let you know that I will now be blogging on this address: http://www.khoahuynhposts.blogspot.com
Cheers
Khoa
A move step closer to play sticky nose with employers.
In recent developments by Kate Ellis, who have announced an idea that business with more than 100 employee will be mandated to report on the number of women being hired and their positions in order to achieve gender equality in the workplace.
This mandate is going to cost $11.2 million to established the Workplace Gender Equality Agency to gather data from firms with more than 100 employee as it is intended help decide which firms to be awarded for contracts from the Government unless that firm meet that quota.
As far as I think this mandate by the Minister for the status of women have created another unnecessary compliance for firms that wanted to expand beyond more than 100 people. Not any its a waste of time and tax payers money to perform all of these audits on the firms that hire more than 100 people.
Whatever the percentages of the Australian workforce pool that hires more than 100 people may be, all as I know that small to medium enterprises employees makes up somewhere of 80% of the entire Australian workforce. I do seriously think that department is going to serious sick to their budget of $11.2 million?
The Answer is: there’s going to be over-budget anyway by many folds and its more taxes on the way from the Labor government continues to deepens its fiscal deficits. I’m not sure if that’s suppose to be a distraction or a stunt just to improve the opinion polls as the Labor party is slipping away downwards since the announcement of the carbon tax.
I think that idea is going to put both more men and women out of work. No business owner is willing to hire more than a 100 employees because of that proposal and I hope that dosen’t passes both the house and the senate. First of all, I like women of all walks of life. I have more sisters than any average family and those who worked with me and supported with me are women.
The world is changing everyday, including Australia where the opportunities of personal liberties have never been so good then a half a century ago. Where women are already have a choice to live a free and independent life than ever before. They can have it all as far as her vision reaches beyond the skies.
It’s freedom that counts to be more progressive for the sake of society than government mandate. I hate to see Ms Ellis portfolio to achieve the opposite like she have originally hopes to achieve.
That mandate is really going to make chances of getting a job a hell lot harder. Kate Ellis, this idea of yours is going way too far, I know it has good intentions but it also have numerous unintended consequences. Such untended consequences for me will be, that I won’t able to support my sisters or a partner I haven’t yet meet who may needs my support.
Cheers
Khoa
Posted in Uncategorized
Shamefully taxing the hell out of us!
For so many times the prime minister and the greens who constantly been lying to all of us including those who voted for them since the election and one of those lies are “there will never be a carbon tax under the government I lead” – Julia Gillard.
This fixed price scheme on carbon will be in placed between three to five years and then to move into a market based pricing.
She couldn’t be any clearer by the day as the carbon tax is designed to lower your living standards, since she announced the tax at a media press conference. “If you put a price on carbon on something people will use less of it, as it is free at the moment to permit carbon pollution. If we put a price on carbon pollution and people will find ways to admit less of it and they don’t want to pay the price”
Well that means paying more for food, electricity and petrol. Small to medium businesses will closed or scale down their operations, more unemployment, working less hours and less personal savings.
While Greg Combet was promoting the tax, he also refuses to acknowledged that a price of carbon is a tax like it never exists. “Its a tax isn’t it?” the reporter asked. “This is a carbon price thorough a market mechanism with the first three years of the market mechanism at least between three and five years being a fixed price in effect that will operate like a tax carbon but the clear intend is to move into emission trading as quickly it can.” Bad PR or spin I must say.
Second last, I leave you a comment with the governments backbench member, Rob Oakshott sounds like a clueless twit. “I certainly support the release of this document, if I been asked to vote for it then I would”. Like he will vote for the tax that he never reads it.
But anyway what I want to leave for you is a quote from one of my favorite economist of the 20th century.
“Those politicians, professors and union bosses who curse big business are fighting for a lower standard of living.” – Ludwig Von Mises, Theory and History of AntiTrust Laws, 1950.
Cheers
Khoa Huynh
Top Trends for years to come ahead
While I was doing some fact finding and observing into politics, economics and etc. A couple of ideas have popped into my head and I’m pleased to reveal to you, what are the top trends in the coming years. But still more trends are coming, so stayed tuned.
The Art Rush: As most baby boomers retires, after the event of the property bubble explodes, government bonds becomes junk bonds, superannuation accounts performs badly, precious metals are overpriced and feared to be in a bubble formation. They want tangle table assets that is a store of value, which never loses in value like stocks, currencies and bonds.
They seek art as a attractive alternative, where they can chose whichever artwork that they personally like regardless of who was the artist. It doesn’t matter if this artist famous or not, it’s the price of artworks that matters the most. If the price of artworks increases the same rate as stocks and it’s not so speculative as the stocks where many investor aren’t really familiar with artworks. It’s a safe asset as most of the baby boomers would think otherwise what else could be a safe asset.
The David Welsh effect: David Welsh the gambling magnate who deep in this retirement recently opened his own gallery called MONA in Tasmania. A private run gallery, that gives Tasmania an edge to rival against Melbourne, Sydney and Brisbane to be the art capital of Australia. Particularly Tasmania is known to be a stress free life state, having a major gallery that will bring growing art hub, as being attractive for local artists to move to Tasmania in search of a place where it’s easier to make a living in art than in other states.
Retro and recycled fashion: When the depression spreads around the world, people without jobs are on tight budgets and still wants to look fabulous to life their spirits up. Rather than going to well known clothes stores for new clothes, they rather go to op shops, salvos or Vinnies to find better bargains than they normally would from well known clothes stores. To those who still has a job and loves to dress like their unemployed counterparts, they would favor retro styled clothes similar to what the recycled stores are selling. Rather than going to recycle stores to avoid being viewed as less fortunate people, they would just shop at the stores that would sell them.
Self managed musicians: The era is over with big bands being signed up with major record labels and managed by many of the music industry’s best managers. Rather than perusing fame and fortune to avoid the down side of fame and following eyes of photographers, when their passion for music is highly regarded and they want to keep their private lives to a minimum. As the ever growing popular use of the internet gives an opportunity for musicians to promote themselves by posting music on Youtube, posting their news on their blog or website, selling their CDs while on tour, sell them on their website or iTunes. Clubs and Hotels loved having these guys in their residency schedule not only the musicians are willing to take up the offer and at least it’s win-win deal on both sides of the coin.
The Golden Rule: Gold reaches a all new record price over $2500 – $3500 per once, as the US dollar crashed leaving the cash holders and the bond holders losing all of its purchasing power regardless how much they have in US dollar assets. As gold is now viewed as real money, this also give a special status to anyone who owns gold, to be viewed as rich, wealthy or ruling elites. Whoever has the gold rules.
Global Bankruptcy: Soaring amounts of debts among citizens, corporations and governments reaches critical levels and at the verge of defaults. As interest rates rises, citizens and corporations are burden with debts that have to be paid back or headed to default. For the governments to adopt budget cuts in the event before declaring bankruptcy as government bonds being down-graded of its ability to pay off debt, as there are two ways to deal with it by either a restructuring of its debts or inflate its way out.
Food stress: Food prices will skyrocketed as the price of oil and production cost goes up due to the monetary policies being implements by the central banks from developed nations such as the Federal Reserve, the Bank of England, The European Central Bank and the Bank of Japan. With further QE programs or just printing money out of thin air, as the value of money goes down and the prices of food goes up. More 30% of the average citizens budget will be spent on food, as the politician will always blame rising food prices on the weather rather than expansion of the governments and the central banks fiscal balance sheet.
China’s mobilised it’s troops overseas: As global instability increase across Africa and South America, china’s economic interests are under threat from hostile takeovers from rebel grounds and nationalist like governments. China’s exhausts all of its options of peacefully to have control of natural resources from overseas to fuel its expanding economy, when before civil unrest occurs and inflation is running out of control, they will go to war against nations who is they described as a threat to its economic interests.
The timing can come to a good time for China where millions of its workforce faces unemployment, the military may be unwilling employer to make up for the shortfall of lost productivity and work that is need to stabilised the Chinese economy during the deepest depression that the world faces.
Posted in Uncategorized
Our darkest days in Australia
It began since the time when I on my lunch break from work, when I witness the Queensland flooding on TV at the fish and chips shop, watching waves of destruction and human pleaded for help have sent sorrows down into my eyes as I could not stop and think how this disaster could have been minimised if the Queensland Government have acted sooner than later.
Countless lost and desperation from the Queensland floods have really got me thinking of how the government would really react to the crisis. In the past couple of years, the Australian was very compassionate when it comes to foreign aid and I just wondering if they will be digging deep for this natural disaster.
I think this time is the moment where the government is being put under the microscope in its response to the Queensland flood. It is the window of opportunity to make both the Bligh Government and the Juila Gillard Government accountable for their praise or failures.
Will the Federal government pledged over billions of dollars to help the victims and the repair Queensland? If their efforts are minor than compare to their previous efforts of providing foreign aid, then you got to asked yourself “what kind of sick people these pollies really are for not caring of it’s citizens just to pleased the international community or the UN”, if they really are social-paths?. Why not tell it, things as they are like a spade a spade rather than being delusional and believing in fairy tales.
Following the steps of Socialism is a road to disaster like the Soviet Union, as the US and the UK is heading for collapsed. They will try to maintained their status quote but they will sowed the seeds of their own destruction, if they don’t put their citizens first before anyone else from overseas.
Time will tell, the government better get this right or they will be finished. I think Australia will be better off as Prime Minister than any Labor leader, even though he’s not perfect but at least he can show more sympathy and honesty despite I think he’s a bit of a clown and mad quasi priest.
My heart and mind is with you Queensland.
Cheers
Khoa
Marc Fabulous
If Hansonism was bad, try Gillardonomics for an instance.
Prime Minister Julia Gillard, accuses the collation in front of guest at the annual dinner for Australian Industry Group. Attacking Joe Hockey’s idea to regulate the banks from charging interest rates beyond the RBA’s official interest rates and the spokesman’s for finance Mr Robb of questing whenever or not to float the Australian dollar.
I for one never agree with both the collation and the labor minority government for their views on economics, because both of them never believes in the free market and they don’t even know what is the free market really is. Funny isn’t if read on further.
Who could ever believe this person have to say something economics, when Ms Gillard never believes in the free market just like Pauline Hanson did, in in a speech at a press club even despite praising Paul Keating’s handling of the economy by allowing the free market to run its course (Its the recession that we have to have) while she ever wanted was a soviet style ‘command and control economy’.
Having the government to macro manged the economy is a huge mistake. I bet you that she will advocate for “output gap” meaning to printing in order to expand the growth of the economy which that never worked at all.
Printing money which Pauline Hanson have already advocated and being laugh at and there’s no doubt the PM will urge the R.B.A to pursue Quantitative Easing (printing money). That is creating inflation out of thin air which will lead to rising prices and little productive uses of it.
That’s the Keynesian economist wanted as which PM wants to believe in it. This will bankrupt us all in loss purchasing power, higher food prices and mountains of debt.
By the way, there is no difference from what both the PM and Pauline Hanson beliefs of economics is John M Keynes. Keynesian economics that should never taught in our schools and universities.
Cheers
Khoa
Inflation is already there in the air and look no futher than Lehman Brother’s art collection auctions.
On the inflation story as the debates goes on whenever the US is going to experience inflation or deflation. The deflationsits thinks that the US economy is still worse shape and stocks and prices will have to fall because people are saving and spending less.
With me I’m one of the inflationist who believe there will be inflation within the US economy and if not the global economy. I still think inflation have already is happening at the present time. In a recent art collection auction by Sotheby’s. They have managed to sell $12.28 million USD of Artworks which was used to be owned by Lehman Brothers in order to pay back it creditors which they still owns $600 Billion USD. Only 83 per cent of the artworks have been sold so far.
The artworks did in fact reaches record highs. A iconic painting Untitled 1 by Julie Mehretu was sold for $1.25 million well above the high estimate prince between $6000,000 – $8000,000 USD. Mark Grotjahn’s Untitled was sold for $782,500 and including Gerhard Richter’s Abstrakets Bild was sold for $506,500 USD.
This tells me that inflation is still on the rise, then what the Fed have anticipated. Well I think Ben Bernanke would be smiling at the moment as he always likes to see asset prices to raises. If anyone thinking of owning some Art, Ben Bernanke is your best friend. You ever want that painting of yours to be worth from $1230 to more than $6000, Mr Bernanke will make that possible.
Cheers
Khoa Huynh.
Posted in Art, Economics and Finance
Tagged Art action, Ben Bernanke, deflation, Gerhard Richter, inflation, Julie Mehretu, Lehman Brothers, Mark Grotjahn, Sotheby's, US dollar
Economic predictions.
In the last couple of months I’ve few prediction that did come ture. For a few expamles: back in mid 2008, I’ve predictied interest rates will raise in the later part of 2008 and the long term bear market rally. The RBA raised interest rates after the led up to Melbounre Cup day and the ASX have a major drop from esitmated 4800 points to 4300 points in the middle of this year.
During May 5th 2010, I’ve commented on The truth about realestate in Australia’s wall post:
“Actually brace for official interest rate of 8% or a slight dip to 4% and then 12% for the next 3 years.”
Then on May 18th 2010:
“There might be a chance of a rate cut in the next 6 months if both clearance rates plunges and a slowing economy in China remains to be seen.
That didn’t mean rates will go down to 3.25%, either the RBA first put on hold or bring it down to stays at 3.85 or 4, then they raise it back up again despite the fate of the world’s economy.”
Well I got the holding rates raises right so far, as I’m not ruling out that the RBA will lowers rates unless there’s a huge rate of unemployment. As well as I’m not ruling out for official interst rates of 8% – 12% for the next 3 years. There’s might a chance tha the RBA would lowers interest rates but if they do that and people start borrowing and spending, that will be the trigger for higher interest rates.
In other prediction, I’m going to make is in the currency market. The Japanese Yen!
“I think the yen will have temporary decline soon, once the Aussie dollar rally against the US dollar to above 90 US cents. Because right now the Japanese Central Bank have already started to intervene in the weakness of the US dollar, by printing more Japanese Yen.”
“The effects might affect the currency markets. As long as the RBA keeps rates on hold. Because each time the RBA raises rates the US dollar strengthens temporary. It sounds odd, I think the Japanese Central Bank will be bit foolish like they did during the late 80′s and early 90′s.”
Well time will tell to see if that really going to happend.
Cheers
Khoa
Lassiez-faire, frist issue.
My very first magazine have just arrived! check it out!
Click here! Yes that’ right! here! for issue one.
Cheers
Khoa Huynh.
