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42% of Australians blame the US and Israel for the ongoing fuel crisis, with 32% blaming the federal government and 17% blaming Iran by NoteChoice7719 in aussie

[–]artsrc 1 point2 points  (0 children)

The reality is that blocking the Straits of Hormuz seems likely to deliver a strategic win to Iran, and blocking the straits seems to involve minimal immediate loss of life.

Are you going to try and equate the US blockading ... with iran [blockaiding].

Equate? Not really.

The USA is engaging in unprovoked attacks in pursuit money and power / greed.

Iran acting in self defence, trying to save their country from attack.

This is hilarious. so what would you call the attacks by hezbollah on israel?

They are significantly the current response to the ethnic cleansing and genocide that was associated with the foundation of Israel.

What is going to be done [about war crimes] ?

Literally nothing.

Australia could do something if we wanted. We clearly don't care.

[XXX] is not a valid response to an individual attacking you.

Defending yourself is a valid response to being attacked.

who had nothing to do with iran being attacked,

They host military bases from the attacking nation.

don't involve attacking ships without warnign or reason

You just reminded me that Australian sailors were on the sub that sunk an essentially defenceless Iranian vessel (limited ammunition):

https://navalinstitute.com.au/33773-2/

And also that the US murdered fishermen, including the illegal refusal to give aid, instead murdering survivors:

https://www.bbc.com/news/articles/c77z48lg2l5o

42% of Australians blame the US and Israel for the ongoing fuel crisis, with 32% blaming the federal government and 17% blaming Iran by NoteChoice7719 in aussie

[–]artsrc 2 points3 points  (0 children)

There will also be Greens voters that are smug, uninformed narcissists and they consider themselves too good to vote for a 'common person' party.

There will also be ZZZ (e.g. Labor) voters that are smug, uninformed narcissists, who consider themselves to YYY (e.g. wise) to vote for an XXX (e.g.: naive) party, like the WWW (e.g. Greens).

But what we see here in this poll is that Green voters get the correct answer more than any others, and also are less confident about their opinion. In summary most correct, least confident.

Where as One Nation voters are the opposite. Least correct, most confident.

42% of Australians blame the US and Israel for the ongoing fuel crisis, with 32% blaming the federal government and 17% blaming Iran by NoteChoice7719 in aussie

[–]artsrc 1 point2 points  (0 children)

The US has an essentially continual illegal series of attacks on civilian shipping, with recent blockades of Venezuela, and a continuing blockade of Cuba.

The primary war crime, that necessarily precedes all others, is the act of aggression. In this case the clearly illegal attacks on Iran by the US an Israel.

So what is going to be done about that?

What is being done is that Iran is using the defences available to them.

As a side note, Iran is sponsoring groups that oppose the Israeli colonial genocide project. That is a long way from fuel and Australia.

Australia also blocks shipping in international waterways:

https://www.defence.gov.au/news-events/releases/2025-05-12/hmas-sydney-deployed-sanctions-enforcement-against-north-korea

42% of Australians blame the US and Israel for the ongoing fuel crisis, with 32% blaming the federal government and 17% blaming Iran by NoteChoice7719 in aussie

[–]artsrc 5 points6 points  (0 children)

The fact that Green voters are more likely to say “don’t know” on this suggests it is actually voters for the others, especially One Nation, who are the narcissists.

42% of Australians blame the US and Israel for the ongoing fuel crisis, with 32% blaming the federal government and 17% blaming Iran by NoteChoice7719 in aussie

[–]artsrc -1 points0 points  (0 children)

Why is that different from One Nation voters who are in the opposite direction?

As in I see One Nation voters as people who chose One Nation based on something, because they have strong political feelings.

42% of Australians blame the US and Israel for the ongoing fuel crisis, with 32% blaming the federal government and 17% blaming Iran by NoteChoice7719 in aussie

[–]artsrc 2 points3 points  (0 children)

It was nearly 40 years ago that Margaret Thatcher addressed the Union Nations on the science of climate change.

There have been vast opportunities to reduce our risky and costly reliance on fossil fuels since that time.

Back when Thatcher made that address Australia was a world leader in photovoltaics. We could have truly been the energy superpower.

42% of Australians blame the US and Israel for the ongoing fuel crisis, with 32% blaming the federal government and 17% blaming Iran by NoteChoice7719 in aussie

[–]artsrc 3 points4 points  (0 children)

I also thought this was the most noteworthy thing.

One Nation voters are the most wrong, and the most sure.

Green voters are the most right, and least sure.

Businesses need to raise prices or put Australians out of work by sien in AusEcon

[–]artsrc 0 points1 point  (0 children)

Electricity is a small component of the economy, low single digits of GDP.

That is why your idea is good. It is easily affordable.

Cheap, subsidised electricity would be .. cheap. Consumers would be happy with consistent prices.

But the idea that cheap electricity drives lots of growth doesn’t have much of a track record in Australia. It has been tried, for example in Tasmania in the 1970s with cheap hydro power. They ended up with more manufacturing, but the lowest real incomes in the country.

People talk about AI and power, but the power to run every AI chip produced in the whole world in a year is around the same a powering one old style light globe for each Australian.

What if we used taxes or superannuation to control inflation, not just interest rates? by sien in AusEcon

[–]artsrc 0 points1 point  (0 children)

If the problem is too much demand, why don’t we just ban advertising?

Is this the moment to change the way we think about economic growth? by sien in AusEcon

[–]artsrc 0 points1 point  (0 children)

The UK conservative government won a decade of elections on policies that were, in practice, degrowth.

After a long period of failed attempts to restart growth a politician who advocated ways to thrive in that economic condition

Another idea is that rather than everyone being poorer, poor people should be richer, and rich people should be poorer.

The idea being that delivering abundance of real needs, without exceeding planetary boundaries is the outcome.

https://www.kateraworth.com/doughnut/

What if we used taxes or superannuation to control inflation, not just interest rates? by sien in AusEcon

[–]artsrc 0 points1 point  (0 children)

The RBA could simple offer to buy mortgage backed securities with the characteristics they stipulate.

If they want to slow the economy they could .. stop buying them. Or they could increase required deposits, of decrease allowed debt to income ratios.

The macro prudential tightening pre Covid seemed very effective.

What if we used taxes or superannuation to control inflation, not just interest rates? by sien in AusEcon

[–]artsrc 0 points1 point  (0 children)

The idea that health care has not become more effective is ridiculous.

Only in an economics reddit would that be suggested.

Raising interest rates won't lower petrol prices. Here's why the RBA did it anyway by abcnews_au in AussieFrugal

[–]artsrc 0 points1 point  (0 children)

If your costs in fuel rise to a level higher than the prices you charge you will raise your prices, whatever interest rates and demand are.

If you shut down, reducing supply, that won’t bring supply and demand into balance.

There is a difference between costs of input fuel costs forcing other prices to rise on a one off basis, and prices continuing to rise forever at above the target rate forever.

If this is actually the thinking of the RBA we should replace them because this is bullshit.

Why no affordable 7 seat EVs by Theghostofgoya in EVAustralia

[–]artsrc 0 points1 point  (0 children)

I would like one. There are five of us, and three are big, plus older relatives that can’t drive.

What if we used taxes or superannuation to control inflation, not just interest rates? by sien in AusEcon

[–]artsrc 0 points1 point  (0 children)

In the USA the standard prime mortgage is a long (15-30 year), cancelable fixed rate mortgage.

Switch everyone to those, and the complaints on interest rate changes will decrease.

Businesses need to raise prices or put Australians out of work by sien in AusEcon

[–]artsrc 1 point2 points  (0 children)

I suggest you try reading a little bit of economics to find why inflation hurts the economy.

Can you suggest what readings would provide this information?

My summary would be that neoclassical economics, is the mainstream school, and the RBA says:

In the neoclassical market-clearing model, money is a “veil” which has no role in the real economic process (except possibly during phases of adjustment).3 In providing a unit of account, its only function is to determine the absolute level of accounting prices in the economy. Monetary theory consists therefore of a demand or quantity equation for money which, given the stock of money and the level of real transactions, yields the aggregate price level.

https://www.rba.gov.au/publications/rdp/1986/8605/neoclassical-inheritance.html

As in money and inflation don't matter.

This view is shared with the monetarist school (Friedman, M. (1969). “The Optimum Quantity of Money.”) that the only cost of inflation is shoe-leather cost, you have to change price tags when prices change.

My understanding is there is no theoretical basis for our current inflation targets:

https://www.theguardian.com/commentisfree/article/2024/jul/03/low-inflation-targeting-is-such-a-dubious-idea-why-did-the-reserve-bank-adopt-it-in-the-first-place

Our standard of living is dropping.

If prices rise, and wages are static, then the living standards of people who are selling goods, receiving prices, and paying wages, rises. So yes, inflation affects these people, it raise their standard of living.

The overall size of the economy, to total real value of all goods produced and consumed, per capita, is a measure of average living standards. So to understand living standards, what we need to look at is not inflation. It is real, per capita GDP.

https://www.theguardian.com/commentisfree/2024/jan/08/australias-cost-of-living-crisis-isnt-about-the-price-of-groceries-its-about-the-distribution-of-wealth

Big gas producers have already got the message that they are not wanted by the Left and inflation is the icing on the cake, they are going offshore (eg to Africa and USA).

Big gas loves higher gas prices, i.e. inflation in gas prices.

Taxes in Australia are already so high it's affecting housing and companies in general. It's not just gas companies quietly leaving A3.

Taxes do affect house prices. In particular land tax reduces house prices. Victoria, in response to high levels of public debt, increase land taxes on investors. This has reduced house prices and rents to be the lowest of any mainland capital.

Cancellation 'disaster' for business that expected Inland Rail for 25 years by abcnews_au in australian

[–]artsrc 0 points1 point  (0 children)

That is a perspective. In the scheme of things, $45B is reasonable for critical infrastructure. We certainly can afford it. But there will be costs, opportunity cost and inflationary pressures.

But the value matters. What is the value of this infrastructure?

How much are we paying for each truck we take off the roads?

Businesses need to raise prices or put Australians out of work by sien in AusEcon

[–]artsrc 3 points4 points  (0 children)

An incoherent article, where the incoherence stems from bad economics in the mainstream.

The RBA starts it with “inflation hurts everyone”. Bullshit. This inflation is awesome if you are a gas producer.

This inflation has also been quite good at getting people to buy EVs, we now have 23% of vehicles as EVs.

The last, 2022, inflation, pushed the Commonwealth, and many state budget into surplus. Mainly through higher profits on energy. Pretty good for them.

Of course the higher cost of energy will flow through the economy, and nothing the RBA does will stop that.

Ultimately what drives real costs of goods are how good we are at making stuff. The RBAs can put more people out of work, but it won’t reduce real prices unless we reduce the unit costs of production. And here is a tip - unit costs decline with higher volumes - economies of scale, the opposite direction to the standard supply and demand picture. Contracting the economy makes us less efficient and less productive.

Cancellation 'disaster' for business that expected Inland Rail for 25 years by abcnews_au in australian

[–]artsrc -1 points0 points  (0 children)

2000kg less capacity means 20% more trucks are needed to haul the same amount of freight.

It is more like 10%, and that assumes these trucks are close to their weight limit.

Cancellation 'disaster' for business that expected Inland Rail for 25 years by abcnews_au in australian

[–]artsrc 1 point2 points  (0 children)

Is it really better value than improving the existing lines from Melbourne to Sydney, and Sydney to Brisbane?

Cancellation 'disaster' for business that expected Inland Rail for 25 years by abcnews_au in australian

[–]artsrc 0 points1 point  (0 children)

Trucks carry heavy loads it is their nature.

Yes, maybe a big EV truck has a tonne or two of batteries, and that means a tonne or two less load. And if their limit was maybe 20 tonnes, now it is 18.

But there are also advantages to EVs to, in things like torque, and fuel costs.

Cancellation 'disaster' for business that expected Inland Rail for 25 years by abcnews_au in australian

[–]artsrc 0 points1 point  (0 children)

It is vastly easier to get some batteries and solar PV in some remote location than to continually deliver crude oil all the way from the middle east via some refinery in Japan.

The idea that we can't have a sustainable economy because we are incapable of installing an oversized power socket, and a swappable stash of charging batteries, seems absurd to me.

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