Vanity

If Trump is so stupid how come the media keep getting fooled? Now they demand an insurance payout

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I used to read Der Spiegel. I even paid for a subscription but eventually the journalism lost its edge. This week’s article calling for Trump’s removal makes my decision sound. Read the following section several times and honestly ask yourself is this journalism? Put aside personal views of the President and objectively look at what the article ‘Donald Trump is a menace to the world’ written by Klaus Brinkbäumer is suggesting, if not demanding.

“He is a man free of morals. As has been demonstrated hundreds of times, he is a liar, a racist and a cheat. I feel ashamed to use these words, as sharp and loud as they are. But if they apply to anyone, they apply to Trump. And one of the media’s tasks is to continue telling things as they are: Trump has to be removed from the White House. Quickly. He is a danger to the world.”

So how would you suggest we do it? No, that is not an option. Should we ignore the democratic process by which he was elected?  Should we ignore the fact that even if he was a ‘liar, a racist and a cheat’ people voted in full knowledge of all of his ‘pussy grabbing antics’? The problem with this type of article is that it ignores reality on so many fronts. As I’ve written many times, if you are not a citizen of a country your input on their citizens’ voting intentions is irrelevant. Essentially what you are pleading for is the same as making a willingly high risk investment in a stock which goes bust then complaining to your broker you were misled and ask for your money back.

Elections are much like stock markets. Your voting intention is akin to investing in your country. In the case of America you had two stocks to choose form. One was the hedge of the other. If you wanted to reinvest in the diminishing returns of the last 40 years you bought Clinton Inc. If you wanted to bet on higher risk with potentially higher high return with a start up you voted for Trump Corp.  The media were slimeball stockbrokers trying to persuade investors (voters) to buy into the safety of Clinton Inc because they knew that the commission pay-off would be larger for them. However investors had enough of struggling through decades of exceptional losses, downgrades, dividend cuts and incompetent CEOs. Even worse they got sick and tired of the shareholder meetings where CEO Obama would talk about how successful his stewardship had been when an increasingly dissatisfied shareholder base kept on checking their statements and questioning the dud investment let alone disapproving of his suggested successor.

Mr Brinkbaumer, your article is exactly the problem with the media. You claim the media’s task is to ‘continue telling things as they are’ but you’ve failed on so many levels so many times that your trust rating is even lower than President Trump which stands in the early 40% range. The problem is that the only insurance you can buy in politics is the opposition. None other exists because the premiums would be too high and the payouts too low.

What your article painfully overlooks is that had the previous mob, who no doubt you think is the solution, was actually the problem. That 40 years of painful neglect led to record numbers on welfare, food stamps and income inequality. The investors knew that backing Clinton Inc, whose entire manifesto spoke to helping the needy that had been neglected by her own party (by deduction including the man she intended to replace), was such a palpable untruth that had the Democrats so brazenly lied in a stock prospectus she would really have been jailed.

After Comey’s decision to testify, my social media feeds lit up like a Christmas tree. I deliberately held back from making any call at the time because there was no evidence other than speculation. Yet social media had already made up its mind – “impeachment! – the orange buffoon is going down!” “The smoking gun!” Of course it turns out that the knee-jerk reaction was proved a falsehood. The media once again let its subjectivity rule the day. Like Rachel Maddow’s scoop on his taxes. She sold it as grounds to get him on tax evasion like Al Capone in The Untouchables. She essentially said “we’ve got the book keeper.” Yet she was gunned down in the elevator by her own leftist journos. You know when the media attacks its own that even it from time to time has flashes of objectivity, albeit too brief because lessons are never learned.

Sadly for the rest of the world, as much as we may despise Trump (he has flaws) and protest at his actions we have absolutely no rights to lynch a democratically elected President much less encourage his downfall. This type of reckless behavior is indeed more disturbing. It essentially says you don’t respect the democratic rights of Americans. What is worse is it the same downright condescending attitude people had during the elections that completely ignored the plight of those that voted for him remains. I remember reading one article suggesting that there be an intelligence test required to have voting rights.  That is totalitarian behaviour if there ever was!

The leftist media continues to forget that the one sure way to help him do another 4 years is to keep up the same broken record dialogue. Indeed in the next 3+ years the Americans will have the opportunity to sack him if indeed they see a better alternative. Trump was always the start-up IPO bet. American voters knew full well he was a risk and they took it. His volatile stock performance is not a big surprise.

Klaus, you conveniently forget that Trump is a by-product of decades of neglect. Had the past four decades of the incumbent political class done a sound enough job he never would have seen the light of day. Instead of putting blame on the causes you simply place it all on him. Instead of some introspection on asking why he is where he is you can’t remove yourself from the group think of attack dogs. That anything he may achieve will be discredited and anything he does wrong will be given full thermonuclear uranium tipped coverage. That my dear friend is shame on you.

It would be nice to see some balance in coverage because if you don’t social media will drag up example after example for you further discrediting your supposed ‘telling things as they are’. We must all remember that digital media has a half-life of infinity. Is it any wonder 25% of the workforce in media has been culled in recent years. It isn’t that advertising revenues are falling it is because you don’t provide enough value for advertisers to warrant posting ads in your publication. Guaranteed if the journalism attracted readers the ad revenue would climb with it.

So once again, the bigger danger to the world is you not him. We should never encourage the overthrow of democratically elected governments because we dislike the outcome. Don’t forget that Clinton had 99% of the mainstream media on her side, leaked debate questions to give her an advantage, a pussy-grabbing video against her opposition and more but still lost. Why? The attitude of expecting a coronation and frankly Hillary Clinton didn’t put in the work.

Suppose no dirt is found on Trump? That constant media mud slinging fails to stick. Evidence surely that maybe he is just a brash, uncouth, narcisstic bully rather than someone that must be removed as a danger to the world. Sure, he doesn’t exactly act in a manner very befitting of the most powerful office in the world but he got there legitimately.  Indeed if he is as unhinged as you imagine surely Pyongyang would be under a mushroom cloud and Assad would be a victim of SEAL Team 6. In fact you might point out that the incredible weakness of his predecessor on foreign policy makes Trump’s more assertive stance a welcoming relief rather than a terrifying prelude to WW3.

Your article is so typical of the snowflake culture. The type of attitude that seeks to ban people from making addresses at universities, once the cradle of free speech. You ignore what you don’t want to hear and pass judgement on those who fail to hear you. Once you learn to listen to others you may find that you come to understand why even people like Van Jones can eventually see why Trump won’t be outed so easily. For indeed if he is as big a fool as everyone makes out the media won’t be needed to point it out. It will be painfully clear and in 2018 Americans will get a trial IPO and 2020 the opportunity to buy or sell stock in Trump Corp.

I should thank you for this article for helping confirm why I didn’t bother renewing my subscription.

Rona Ambrose to quit Canadian politics

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In what I can only say is a shame, Interim-leader of the Opposition Rona Ambrose has called it quits on politics after 13 years taking up a job at a Washington think-tank, the Wilson Center. I honestly thought she had a shot at taking the Prime Ministership at the next election given she made mince meat of PM Justin Trudeau every single time she spoke in question time. Her eloquence, ability to attack and make sound arguments had Trudeau on the ropes taking massive body blows. Perhaps he will breathe a sigh of relief now that she has gone.

She will lead the institute’s “efforts to convene U.S. and Canadian officials to explore the benefits of an integrated and competitive North American economy that is focused on job creation and prosperity,”

Canada’s new permanent opposition leader from a list of many candidates will be announced on May 27.  Sounds to me like her own party wasn’t going to give her the full time position which looked thoroughly deserved.

Trudeau lives to fight another day.

Dick Turpin Turnbull will chase away foreign capital

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I was asked by a client this week on what I thought of Australia’s political climate. I said to him, “if you asked me 15-20 years ago I’d safely argue that it was the only country in the region which could boast incredibly stable government, sensible economic policy and a safe place to park your money. Today I can’t say with hand on heart that this is the Australia you are investing in today. What I will say is that you should keep your powder dry because it will become a ‘pound shop’ in the not too distant future with a weaker currency, higher rates and fire sale asset prices.”

He asked if I could elaborate. I replied “we have had 5 prime  ministers in almost as many years. Before that we never saw anything like that. Our political climate is vile and volatile. We now have a government that is seeking to put in place knowingly unsound policies to arrest poll declines rather than try to fix an out of control deficit. What they are failing to see is that bashing big banks (especially for a conservative Coalition government) out of the blue chases off investment (Alan Joyce and Don Argua are right about that). Foreign investors must wonder whether they may fall foul of knee-jerk regulations and decide the risk is not worth it. So in answer to your question the current climate is going to offer some fantastic opportunities down the line because all of the political turmoil will eventually force change and buying into the market leading into that will be your best bet.”

So with our Dick Turpin highwayman robber at the helm we invite unwelcome flight of capital. If you want to create jobs, growth, stability and invite foreign investment you do so by providing a platform that supports it. It isn’t won by bashing industry, cranking up public spending and hiking taxes. It is done by making yourself the safest place to invest and all the while that happens the risk falls meaning capital is not only cheaper but more abundant. This isn’t trickle down economics but sound policy. Sadly talking of net debt isn’t going to save this government and what is worse Opposition leader Bill Shorten wants to outspend a budget that makes the Sultan of Brunei’s giveaways look like Venezuelan austerity measures.

Why Alan Joyce didn’t take one for the team

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While getting smacked in the face with a pie was uncalled for, the decision by Qantas CEO Alan Joyce to press charges against the perpetrator is over the top and actually harms the cause he chooses to enslave his own employees by. Had he chosen to laugh at it and make light of the situation he would have not only taken the moral high ground but showed he was above it. In the process show that those for it aren’t so brittle and fragile. Still Joyce couldn’t resist the opportunity to press charges when the only damage was done to his tailor’s heart! Jeremy Clarkson showed the right way how to deal with being pied. He could have turned it to a massive advantage which is now an own goal.

I’ve written before that I think his use of Qantas as a way to publicize marriage equality is dead wrong. One of his stunts was to get staff to wear ‘acceptance’ rings and distribute them to passengers as a way to promote it. I said it was wrong. I suppose were someone to politely decline to wear one they’d undoubtedly be branded homophobic, bigoted and summarily ostracized for such expressing such views. That they may indeed support gay marriage but not feel it important enough in their list of priorities (mortgages, job security, kid’s school, health etc) to do more. That is a conscious choice. Fail to wear the ring and perhaps your career takes a turn for the worse all because you don’t want to be forced to outwardly express your political views. Yet if you feel forced to wear one that makes you a slave.

Corporations should keep their political views to themselves. If Alan Joyce wants to go on a personally crusade to fight for the cause he can do it on his own time not on the shareholders clock. If CEOs feel so passionately about politics maybe they should come down from their multi-million dollar ivory towers and run for office for a fraction of the pay. Now that IS the best way to show you truly back the cause (of course assuming people would vote you into office).

Here I was thinking the Irish had a sense of hunour? In the case Mr Joyce you didn’t take one for the team! What a place he could have shown it – a speech on why leadership matters.

Media proves they’re petrified of Tony Abbott

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It didn’t take long for the Tony Abbott haters to spring into action. The media naturally is panicked that this Labor-esque budget will kill off Turnbull if the polls don’t reverse and give rise to an Abbott return which they know would win back swathes of disaffected Lib voters who have abandoned the party since the betrayal. Abbott’s crime? Not applauding the Treasurer for the shameful budget presented last night. Spoilt brat, sore loser and against his own party are the accusations. One can only imagine had he clapped the headlines would have read ‘Sell out!’ or ‘Applauds the opposite of what he proposed!

Let’s think about what his actions truly showed in the context of ourselves. If you worked tirelessly and loyally for a company/party and dedicated almost three decades of blood, sweat and tears to an organization’s success let us just say that you have ‘invested’.  Even if you haven’t you may know someone in your firm who has but let’s assume its you. You are unfairly shafted from your leadership role and your conniving successor seeks to undermine you at every opportunity. You are not only demoted but stripped of dignity. Despite clear evidence you still wish to work for the betterment of all because of those years of investment, you are sidelined and black-balled. Any sensible contribution is ignored and those who once supported you start to realize that doing so risks them being tarred with the same brush in front of the new management. You see the fruits of your hard work get eroded even to the point where the damage impacts the core values of your customers. Even though you have sleepless trying to stop the boat you painstakingly and lovingly tried to build and maintain from sinking, management continues to play music on the deck of the Titanic. Some may call your cause futile but they can never deny it is built on trying to be true to the people you serve internally and externally. Then one day you realize that the damage is irreparable and you won’t appease your new boss on the basis of what you know to be the complete antithesis of your soul. People still respect you inside for not selling out. You’re the real deal and secretly people respect you way more than they let on. Secretly they know they are ashamed of their insecurity.

So while I read many social media posts telling Abbott to ‘go away’, ‘quit’, ‘do us all a favour and go‘ I would argue that many of you are playing the man not the ball. Was he flawless? No. Was he well intentioned? Yes. He is the man that volunteers for the rural fire fighting service. He didn’t do it for point scoring, It was dedication to the cause. If indeed it was for point scoring then why would he bother to do it now he is on the backbench? Perhaps ask yourself one question – would you prefer a person of principle to be your boss or someone that would sell you down the river if you ever got in the way of their ambition? If you choose the latter it says a lot more about you than Tony Abbott.  As Churchill remarked, “You have enemies? Good. That means you’ve stood up for something, sometime in your life”

The media is petrified. If they weren’t they’d see no reason to give him any airtime.

Trudeau is literally a paper tiger

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I honestly can’t see how Trudeau can win the next election. Acting Opposition leader Rona Ambrose took great pleasure into cutting the PM down to size after he had his department make $1,900 worth life size cut outs of him to be placed in the Canadian Embassy in Washington and ten consulates in the United States. His answer was that he spends too much time in the House of Commons. Such is his vanity, even the Speaker of the House had a good chuckle. The Global Affairs department told civil servants to stop ordering them. Ontario MP John Brassard said,  “A life-size, two-dimensional cut-out is probably a perfect metaphor for everything that Justin Trudeau represents… You’ve got the shallow facade, and yet there’s very little in the way of depth or substance there.” 

Look up Rona Ambrose vs Justin Trudeau in question time and watch the bloodbath. She makes mincemeat out of the Canadian PM every time and exposes that behind the looks there is little substance and his poll numbers are reflecting that.

The McTurnbull Burger – 2017 budget that says ‘waistline be damned!’

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Remember the Big Mac jingo? “Two all beef patties, special sauce, lettuce, cheese, pickles,  onions on a sesame seed bun?”  Well the 2017 budget From the Coalition might as well be called the super sized McTurnbull Burger. Two all thief parties, special porkies, levies, fees, spun on a $600bn dollar bomb. While the government needed to introduce a vegan budget of lentils, tofu and alfalfa to get the country’s nutrition properly sorted they’ve said waistline be damned. Morgan Spurlock couldn’t keep up with this super sized meal. As my wise sage Stu told me last week, “About as well-timed as Mining Super Profits tax – ding ding ding – top of the banking cycle just called by inept bureaucrats”

If people wanted a tax and spend party they’d have voted Labor. In a desperate attempt to supersize the meal they’ve made of the economy since Turnbull took office the debt ceiling will be raised. Wage growth has slowed for the past 5 years from 4% to under 2% according to the RBA. Throw higher Medicare on top why not?!. Cost of living is soaring. So let’s look at the extra calories they’ll inevitably load on the taxpayer.

1) Let’s tax the big 4 banks. That’ll work. What will they do as responsible shareholder owned organizations? Pass those costs straight on to the tapped out borrower where 1/3 mortgagees already under strain and 25% odd have less than a month of buffer savings. NAB already jacked interest only loans 50bps.

2) allowing retirees to park $300,000 tax free into super if they downsize their empty nest. Wow! So sell your $5mn waterfront property so you can park $300k tax free into superannuation. Can see those Mosmanites queue up to move to Punchbowl to retire. Hopefully the $1mn fibro former council shack the Punchbowl pensioner flips will mean they can move to a $500,000 demountable in Casula in order to free up the property market for the first home buyer who is getting stung with higher interest rates, .

3) Australia has a property bubble. The Reserve Bank has recently had an epiphany where they’re afraid to raise rates to crash the housing market and they can’t cut because they’ll fire it up more. Allowing creative superannuation deposit schemes (max $30,000 per person & $15k/year) to help with a deposit only doubles down on encouraging first home buyers to get levered up at the top of the market using a system designed to build a safety net for retirement. When governments start abusing sensible policies in ways it was never designed for then look out for trouble down the line. This doesn’t help first home buyers it just pushes up the hurdle to enter.

4) Australia’s credit rating is on the block. Australia’s main banks are 40% wholesale financed meaning they have to go out into the market unlike Japanese banks which are almost 100% funded by their depositors. Aussie banks could see a rise in their cost of funds which the RBA could do little to avoid. That will put a huge dent in the retail consumption figures.

5) speaking of credit cards. Have people noticed that average credit card limits have not budged in 7 years. If banks are confident in the ability of consumers to repay debt, they’d let out the limits to encourage them to splash out! Not so – see here for more details.

6) Infrastructure – I live in the land of big infrastructure. Jobs creation schemes which mostly never recover the costs – especially regional rail. The Sydney-Melbourne bullet train makes absolute sense. We only need look at the submarines to know that waste will be a reality.

7) small business – tax concessions of $20,000 not much to write home about. Small businesses thrive on a robust economy which is unlikely to occur given the backdrop. Once again this budget is based on rosy assumptions and you can bet your bottom dollar Australia won’t be back in surplus by 2021.

Some  media are talking of Turnbull & Morrison stealing the thunder of the Labor Party, providing a budget more akin to their platform. Sadly I disagree that this legitimizes Turnbull. It totally alienates his base, what is left of it. Tax the rich, give to the poor. Moreover voters see through the veneer. The stench of the Coalition is so on the nose that without ditching Turnbull they have no chance of keeping office. Labor is not much better and One Nation and other independents will hoover up disaffected voters by effectively letting the others dance around the petty identity political correctness nonsense.

In the end the McTurnbull Burger meal will look like the usual finished product which resembles nothing like the picture you see on the menu. A flattened combination of squished mush, soggy over-salted fries and a large Coke where the cup is 90% ice. Yep, the Coalition has spat between your buns too. This is a meal that won’t get voters queuing up for more. Well at least we know Turnbull remembers that smiles and selfies are free after all ‘he’s lovin’ it‘! After all virtue signaling is all that matters. All this to arrest some shoddy poll numbers which will unlikely last more than one week.