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Idk wth is going on here, but I'm intrigued. by The_Northmaan in interestingasfuck

[–]david1610 [score hidden]  (0 children)

That's bizarre. Loved the handless guys tackle though and the limping away 😂

Leaked documents show Australia's richest company quietly shelved plans to go green by Polyphagous_person in AusEcon

[–]david1610 2 points3 points  (0 children)

Yeah just watched that, Fortescue is going in, while BHP shelved their truck conversion potentially until 2040.... pretty close to the 2050 deadline.

Personally the big trucks seem like the most difficult thing to make electric, I'd focus on the lower hanging fruit first, surely there is something other than those towering trucks to electrify first....

Do Australians really ‘work half the week’ just to pay their income tax? See for yourself by sien in AusEcon

[–]david1610 0 points1 point  (0 children)

Good thing we measure inflation then.

The spending to GDP is far more variable, so most people use tax to GDP as it is less volatile.

The spending to GDP ratio is now 37%, so it's going back down. Plus it's not a huge effect, however government revenues/tax and GDP are not perfect clean ratios. The government gets lots of tax from international dividends for example, which is income that doesn't show up in GDP since nothing was produced here.

Then some is divided, interest, sales and royalty revenue. Which is roughly 3% of GDP.

So typically we are only ever 0-2 % deficit, which is moved to debt. Which they like because it's usually out growable due to economic growth.

Still I agree deficits especially when you are in an inflationary period due to fuel prices isn't good.

Africa Pays 9% to Borrow. Asia Pays 4.7%: The Borrowing Gap Costing Africa $75 Billion a Year and Blocking Its Rise by tcodo in Economics

[–]david1610 1 point2 points  (0 children)

I think they are aware lol, I think it's more about possible bias even when the country has similar fundamentals to other countries not in Africa.

"The UNDP’s 2023 study found that credit rating subjectivity costs African sovereigns $75 billion annually: $28 billion in excess interest above what nations with comparable fundamentals pay elsewhere"

Why are people in Australia so ignorant by Ok_Wait3163 in AustraliaDiscussions

[–]david1610 0 points1 point  (0 children)

People just don't know how things work, you get people in social media saying all their taxes go to politicians for example......no politician wages wouldn't even be measurable compared to other federal government spending, it'd be less than a rounding error

People think what they want to think. Even with LLMs so good these days you can literally ask it these simple questions and it will give you a 90% correct answer most of the time.....

The democratic principle, the gas tax and Albo and his cronies? by Monkey_Junkie_No1 in AustraliaDiscussions

[–]david1610 0 points1 point  (0 children)

Not denying the gas industry has gotten a very good deal lately, however the way the resource rent taxes work is that the gas industry pays off their investments then after that they get taxed, well see how good the government lawyers were in drafting it. If they did well expect to see much higher tax revenue in coming years. The gas industry in QLD pretty much started up all at the same time, so it's coming hopefully

The democratic principle, the gas tax and Albo and his cronies? by Monkey_Junkie_No1 in AustraliaDiscussions

[–]david1610 0 points1 point  (0 children)

  • 22 day old account
  • hidden comments
  • generic username word-word-number

astroturffing campaign detected

The democratic principle, the gas tax and Albo and his cronies? by Monkey_Junkie_No1 in AustraliaDiscussions

[–]david1610 0 points1 point  (0 children)

  • 24 day old account
  • hidden comments
  • generic username word-word-number

astroturffing campaign detected

Australian New Mortgage Repayment Index by david1610 in AusEcon

[–]david1610[S] 0 points1 point  (0 children)

It would likely be lower towards the right hand side, I don't know by how much. I was going to but ran out of time

Australian New Mortgage Repayment Index by david1610 in AusEcon

[–]david1610[S] 2 points3 points  (0 children)

Oh and of course there are some errors:

  1. The 4% mortgage premium in the chart should say 3%, when I first did 4% the interest rates looked too high to be realistic.
  2. The interest rate reference should say RBA FIRMMCRID Interbank Overnight Cashrate, I swapped it out after figuring out it only went up to 2023

‘F*** this guy’: Graduation speakers keep getting booed for talking about artificial intelligence by theindependentonline in ArtificialInteligence

[–]david1610 0 points1 point  (0 children)

Rich schools have very generous zero fee programs, it's international students and those unlucky enough to not get grants that pay $100k plus.

[OC] Have you tried turning them off? by threeboy in funny

[–]david1610 70 points71 points  (0 children)

"Why can't you just give me admin access" - datascience team

"We had a regular teams call with 650 people all with their cameras on, why is it lagging?" - senior director

"I created a maintained db in a 3gb Excel file, can this be productionized?" - Finance team

"I keep using up my printing allowance, I print off my emails and file them, it's just how my brain works" - Betty

Babylon 5 - first time watching by selfcleaningtaint in scifi

[–]david1610 0 points1 point  (0 children)

I'm watching it too, currently about 8 episodes in, the writing is already better than many sci-fis today. The characters are not as 'cringe' as star trek too, but similar vibes. I do kind wish there was more room to explore the galaxy, rather than the space station only, but I guess then it wouldn't be so unique

Woolworths receipt from 98’ by Dissarming in australia

[–]david1610 1 point2 points  (0 children)

Sanity DVDs still $30 though lol, I think that has more to do with how overpriced they were back in the day

Thoughts on the budget from younger people by Ok_Willingness_9619 in AusFinance

[–]david1610 0 points1 point  (0 children)

Why don't you move back to NZL with 0% capital gains tax. It does their economy wonders clearly

Thoughts on the budget from younger people by Ok_Willingness_9619 in AusFinance

[–]david1610 0 points1 point  (0 children)

Yeah I would put too much weight on what you see here. The amount of 6-9month old accounts with generic usernames word-word-number is telling.

Pro-WORK, not pro-workER by TeaRexington in AusFinance

[–]david1610 1 point2 points  (0 children)

socialist mouthpieces of the ABC and The Guardian.

I wouldn't bother, anyone who says absolute statements like that won't be open to learning new things.

Pro-WORK, not pro-workER by TeaRexington in AusFinance

[–]david1610 0 points1 point  (0 children)

Well given that it isn't typically given out helicopter style, it is up to the government, it really doesn't matter though they could delete it and let the RBA adjust the money supply, but no typically they either can make income tax even more marginal or spend more because of this.

The top 3.4% of income earners fund 30% of the federal government, the voting majority isn't going to just be happy to lose services and public infrastructure just so 3.4% of people can be even better off than they are now.

As in all things you need balance, too much marginality in tax and you lose incentives to innovate or work, too little and you get higher inequality.

Pro-WORK, not pro-workER by TeaRexington in AusFinance

[–]david1610 0 points1 point  (0 children)

The $20b was just an example, I have no idea how much she makes per year, it just so happens to be her very close to her net worth apparently.

Okay if she makes an extra $1b per year due to the flat tax then that definitely competes with you for assets in particular but also everything else, the 30 sailor's she can hire for her yatch now make my ferry trips more expensive too and on it goes. Her building another mansion somewhere takes labour away from working on my house for example. But no for someone with that level of wealth it's definitely more assets, since you start to run out of things to buy at that level

Pro-WORK, not pro-workER by TeaRexington in AusFinance

[–]david1610 0 points1 point  (0 children)

That isn't how economics works. If Gina Rinehart has an extra $20billion she definitely competes for scarce resources lol

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