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That's right: Hillary Clinton is running for president again in 2020. She has actually ramped up her campaign since her defeat in 2016! From her Twitter feed to university speeches to appearances abroad - from Ireland to Australia to India - the "I'm with her" campaign continues. The message remains the same: Donald Trump is racist and sexist, and his supporters are deplorable. Hillary also continues to preach that she won the 2016 popular vote by 3,000,000 votes, but because of the electoral college (that damn Constitution thing) and RussiaRussiaRussia, she was robbed of her rightful prize and place in history. Her Path to the Nomination Hillary has a highly plausible path to the Democratic Party nomination, something no other potential Democrat candidate for president can say. In the primaries, Hillary Clinton's name recognition and loyal voters would earn her an easy 25% of the vote, while the anti-Hillary vote would split among as many as ten other candidates at about 5-10% each. This is not dissimilar to what Trump accomplished on the Republican side in 2016. With a solid base of supporters, Trump was able to win primary after primary while the others split the vote. Each time someone dropped out, Trump picked up about half of his supporters, with the other half disbursed among the other candidates. This is a realistic path for Hillary to gain the Democrat nomination, and it is no doubt irresistible to her. Hillary is the only potential Democrat with big money-raising potential and an existing fundraising mechanism. That mechanism has been in place for 30 years! Hillary also has as much as $1 billion in Clinton Foundation donations stashed away for just such a rainy day. You didn't really think all that Russian oligarch money was sent to hungry children in Haiti, did you? Hillary knows that the MSM will not only not criticize her for running in 2020, but celebrate her campaign because "she has unfinished business." Hillary also knows that the MSM will repeat her talking points ad nauseam, as in "the 2016 election was stolen by the Russians" and "she's doing this for women to break the glass ceiling" as they serve up $10 billion in free earned media. In addition, MSM journalists want jobs in the Hillary Clinton administration and won't risk her famous wrath if she wins.
Tourist operators on the Great Barrier Reef are shifting their stance on climate change, with the peak industry body opposing Adanis mega coal mine, and acknowledging fossil fuel use has to be phased out.
In an unprecedented declaration, a year in the making, the Association of Marine Park Tourism Operators (AMPTO) and Australian Marine Conservation Society (AMCS) called on all our political leadersto fight for the future of our reef.Great Barrier Reef tour operators are shifting their stance on climate change, and the threat it poses for corals in Australia and around the world.
Photo: Dean Miller, Great Barrier Reef Legacy
The carbon pollution from coal, oil and gas is heating the air and the oceans to dangerous levels, the statement said, noting the record marine heatwaves in 2016 and 2017 had damaged coral reefs worldwide. Its not too late to save our Reef but time is critical.
On climate change, Im sold, Col McKenzie, AMPTOs long-serving chief executive, told Fairfax Media. Its a man-made issue.
The declaration has already drawn dozens of signatories among tourist businesses and adds to local calls for climate action from local government such as Douglas Shire council.
Imogen Zethoven, the societys reef campaign director, said the tourism industry had been in a state of shock after the first bout of mass coral bleaching in 2016, and had resisted discussing climate change.
But a second bout in 2017 brought a recognition that a warming planet is an existential threat to the reef and the tourism industry, Ms Zethoven said.
Tony Fontes, a dive operator based in the Whitsundays since the 1980s, called AMPTOs shift a huge step.
Its overdue but it is happening, Mr Fontes said. Basically we need a mass campaign to protect the reef.
How far the tourist industry push dovetails with the anti-Adani campaign remains to be seen.
Bob Manning, Cairns Region...
This is the paper I presented at the 2018 Australian Historical Association conference, The Scale of History, held at the Australian National University on 26 July 2018. I spoke alongside Sophie Couchman and Emma Bellino in a panel we put together on National belonging and individual lives: Kate Bagnall: Chinese Australian families and the legacies of
by Mary W Maxwell, LLB
What could the Powers That Be do to Fiona Barnett now? Havent they done about everything humanly possible? Lets see, they could sue her for libel, and they could try to get her referred for prosecution under a little-known by-law of being a mischief-maker.
I will spell out such a lawsuit here. Because the plaintiffs know that the defendant (Fiona) is penniless, they will ask only for nominal damages.
The Counsel for the Plaintiffs will be none other than Yours Truly. (I like to play both sides of the aisle.) Still, I have very little time available to compose the pleadings, so I am going to borrow text from an old case. Very old. In 1809 the College of Physicians of Edinburgh went on the attack agai...
A dangerous rescue mission to free 12 schoolboys and their soccer coach trapped inside a Thai cave for two weeks began on Sunday, authorities said, with the first survivor to possibly emerge 11 hours later.
Thirteen foreign divers and five members of Thailands elite navy SEAL unit would attempt to bring the boys some of whom are as young as 11 and not strong swimmers through narrow, submerged passageways that claimed the life of a former Thai navy diver earlier this week.
Today is D-Day, Narongsak Osottanakorn, head of the rescue mission, told reporters. At 10 am today (0300 GMT) 13 foreign divers went in to extract the children along with 5 Thai navy SEALs.
He said the first boys could emerge from the cave at around 9 pm local time (1400 GMT)
The rescue mission began after rainshowers soaked the Tham Luang Cave area in northern Chiang Rai province for the past 24 hours, heightening the risks in what the governor has called a war with water and time to save the team.
The boys, aged between 11 and 16, went missing with their 25-year-old coach after soccer practice on June 23, setting out to explore the cave complex near the border with Myanmar.
A mammoth response operation including a medical unit, ambulance and helicopter for every boy is waiting outside the cave for the team to emerge.
Narongsak said the boys could start to emerge as early as 9 pm on Sunday, but that there was no time limit and the rescu...
There was this security night patrol company wanting to establish in an industrial area. The problem was, that the area was peaceful. Hardly any break-ins and only minor thefts and property damage that were easily managed.
Canvassing for business in the area delivered these truths to the security company. An impetus was needed to promote this unwanted, unneeded, and false enterprise.
So, the security company organized a series of property damages, fires, break-ins and robberies in that industrial area. The local small police contingent was unable to meet the demands suddenly placed on its resources. The sudden crime wave...
I have reported a number of keynote presentations from the annual conference of the Australian Historical Association this week, but my representation of the conference would be lacking if I did not report the humour that popped up throughout the Continue reading
By Alice Slater, July 7, 2018.
Less than a week or so before Donald Trumps groundbreaking meeting planned with Vladimir Putin in Helsinki, to take place after the NATO summit in mid-July, the new Treaty for the Prohibition of Nuclear Weapons celebrated its first birthday on July 7 when 122 nations voted a year ago in the UN General Assembly to ban the bomb, just as we have banned biological and chemical weapons. The new ban treaty shattered the establishment consensus that the proper way to avoid nuclear catastrophe was to follow the endless step by step path of the Non-Proliferation Treaty, now 50 years old this month, which has only led to nuclear weapons forever.
In light of the new dtente Trump succeeded in negotiating with the long-despised and isolated North Korea, it just might be possible that peace is breaking out, to the great consternation and disapproval of the military-industrial-academic- congressional-media complex and the traditional neoliberal Republicrats who have been opposing any efforts of these sorts, and badmouthing and diminishing the positive effects of the encouraging news that resulted from the Korean negotiations and the possibility of its achieving any promising outcomes. Other naysayers are the members of the US nuclear alliance including NATO states as well as Australia, South Korea, and most surprisingly, Japan, the only country to have ever suffered catastrophic nuclear bombing which was wreaked upon it twice in Hiroshima and Nagasaki by the US in August 1945.
Let us do a thought experiment:
The megalomaniacal Trump and the egomaniacal Putin decide to be the greatest heroes the world has ever known! They recreate the negotiating environment in Reykjavik with Reagan and Gorbachev and Putin repeats Gorbachevs offer to the US that he is willing for both countries to rid the world of all their nuclear weapons if Reagan drops his plans to dominate and control the military use of space with Star Wars. Trump agrees to give up his planned Space Force, converting it into an international space inspection reg...
Bad news for anti-vaxxers. Parents in Australia will now be issued monthly fines if they refuse to vaccinate their children. The Independent reports that parents will lose A$28 (16) every two weeks from their tax benefits for each child that is not up-to-date with their vaccinations. Families earning over A$80 will be slapped with higher charges.
Australia already had a no jab, no pay policy. But, the government is issuing further financial sanctions for the sake of public health. Previously, parents who refused to vaccinate their kids lost an end of year payment to their family tax benefit, roughly A$737.
The new fines are intended to be a constant reminder for parents with unvaccinated children. According to Australias parliament, the number of children under seven with a conscientious objection to immunization rose from 0.23 percent in December 1999 to 1.77 percent in December 2014.
Immunisation is the safest way to protect children from vaccine-preventable diseases, said Minister for Social Services Dan Tehan. Parents who dont immunise their children are putting their own kids at risk as well as the children of other people.
Should you vaccinate your children? Or, should you rely on natures medicine(s) to boost your kids immune system? These two questions are often asked in opposition, and theres no clear answer. This is because there is merit to both sides of the debate....
Jill Gallagher is charged with creating the context in which Victorian Treaty negotiations can flourish
A recently released report of the UK Intelligence and Security Committee of Parliament under the chairmanship of conservative MP Dominic Grieve QC has received remarkably little media coverage in Australia. There are a number of reasons to be concerned about the information contained within the report, not least because it raises serious questions about the level of Australian complicity in the behaviour described in the report.
Following the events of 11th of September 2001 the administration of US president GW Bush announced its war on terror. Components of this war including the setting up of secret and not so secret detention camps. Prisoners were rendered (i.e. kidnapped) to these camps where many have been held indefinitely, without trial, without due process of law, and as the UK report makes clear, tortured.
Information gained by torture, or enhanced interrogation is it was euphemistically described, was then shared by the US with its allies. Two Australian citizens, David Hicks and Mamdoub Habib, were victims of this process.
The UK report makes clear that the British were fully complicit in this process. They knew what the Americans were doing. They were present when interrogations were carried out. They supplied questions to be asked under torture, and in 198 cases documented by the Committee received information they knew to have been obtained by torture.
The definition of torture is found in a number of legal instruments. Its most common form refers to any act by which severe pain or suffering whether physical or mental, is intentionally inflicted on a person for such purposes all of training from them or a third person information or a confession.
Torture is prohibited for example, in the International Covenant on Civil and Political Rights; (ICCPR) the UN Convention against Torture and other Cruel Inhuman and Degrading Treatment or Punishment (UNCAT); and the statute of the International Criminal Court (ICC).
The UK and Australian governments have ratified all of these Conventions and other Articles of international law. The US has neither signed nor ratified the Optional Protocol of the Convention against Torture, although it did ratify the original Convention. It has signed but not ratified the statute of the ICC.
To render someon...
Australia's Minister for Social Service, Dan Tehan, announced July 1st, the Australian Government will monetarily penalize any citizen whose children are not up to date on their vaccinations. The penalty, in the form of a reduction of government payments, amounts to $56 (AUD) monthly. Called the "No Jab No Pay" program, Australia aims to increase compliance with government mandated vaccination programs by taking money away from its citizens. Parents who refuse to vaccinate their children may continue to do so under religious or medical grounds, but will not be allowed to keep the money they were previously receiving from the government. No Jab No Pay appears to be working. According to Tehan's press release: Since the Turnbull Government introduced No Jab, No Pay in 2016 about 246,000 children and their families have taken action to ensure they meet the immunisation requirements. Reasons for financially penalizing its citizens are for safety, according to the Minister of Social Service. Tehan writes: Immunization is the safest way to protect children from vaccine-preventable diseases.
By Jack Burns
Australias Minister for Social Service, Dan Tehan, announced July 1st that the Australian Government will monetarily penalize any citizen whose children are not up to date on their vaccinations. The penalty, in the form of a reduction of government payments, amounts to $56 (AUD) monthly.
Called the No Jab, No Pay program, Australia aims to increase compliance with government mandated vaccination programs by taking money away from its citizens. Parents who refuse to vaccinate their children may continue to do so under religious or medical grounds, but will not be allowed to keep the money they were previously receiving from the government.
No Jab, No Pay appears to be working. According to Tehans press release:
Since the Turnbull Government introduced No Jab, No Pay in 2016 about 246,000 children and their families have taken action to ensure they meet the immunisation requirements.
Reasons for financially penalizing its citizens are for safety, according to the Minister of Social Service. Tehan writes:
Immunization is the safest way to protect children from vaccine-preventable diseases.
It is no q...
(MPN) Australias No Jab, No Pay policy just got a little stronger, or at least more insistent. Under the previous policy, parents who did not keep their children up to date on vaccinations would miss out on a one-time, end-of-the-year tax benefit called Family Tax Benefit Part A, valued at AU$737. Under the updated policy, those same 
CANBERRA, AUSTRALIA Australias No Jab, No Pay policy just got a little stronger, or at least more insistent. Under the previous policy, parents who did not keep their children up to date on vaccinations would miss out on a one-time, end-of-the-year tax benefit called Family Tax Benefit Part A, valued at AU$737. Under the updated policy, those same parents will instead lose AU$28 every two weeks while their child is not up to date.
Australias Minister for Social Services, Dan Tehan, said in a statement:
Immunization is the safest way to protect children from vaccine-preventable diseases. Parents who dont immunize their children are putting their own kids at risk as well as the children of other people.
The expanded No Jab, No Pay policy went into effect on July 1, 2018.
While parents will miss out on approximately the same amount of money in the end, the updated policy serves as a more constant reminder that the government of Australia wants all children vaccinated, according to Tehan.
The Australian government has been attempting to quell the anti-vaccine movement for years and first introduced the No Jab, No Pay campaign in 2016. Since then, nearly 246,000 families have taken steps to meet the requirements.
Concerns arose after small outbreaks of diseases like measles and whooping cough were blamed on an increase in the percentage of children younger than seven claiming a conscientious objection to vaccination. Between December 1999 and December 2014, the proportion of children under seven with a conscientious objection rose from 0.23 to 1.77 percent.
Government vaccination campaigns are...
Coles has stopped selling Capilanos polluted and poisonous Chinese Allowrie Honey while Woolworths will continue to sell it. Make no mistake this is the start of a Honey War between Australias 2 largest food retailers which may lead to a broader retail food fight focused on Australian made food and/or organic food. Coles should be 
Australia will now monetarily penalize parents who choose not to vaccinate their children and the advocates for mandatory vaccines in America are salivating over it.
The post Australia Now Issuing Fines to Citizens Who Refuse Vaccines for Their Kids appeared first on The Free Thought Project.
Following a few blissful weeks of drinking more cheap spirit mixers than water and eating nothing but pastries from some of Europes finest bakeries and hostel breakfast tables, Ive come down with an inevitable bout of sore throat and laziness. Im sitting in the hostel common room playing Jenga while the sun beams onto Lisbons streets, when a soft-spoken voice tip-toes around the corner.
I can play with you?
Her hair is short and shaggy, the colour of coffee, and her skin a golden glow from hours beneath the Portuguese sun. Her name is Leena, and, after her asking her the only opener I know, she answers Israel.
Ive never met anyone from Israel, so my eyes are glued to hers while she tells of her travels. Shes got that smell flowing from her arm-pits that marks a true global hobo, but I dont mind. Her legs are hairy and her poncho drapes down to her kneecaps while she fidgets beneath it. She folds her feet up underneath herself, sitting on top of them to edge herself closer to the table.
I cant help but be in complete awe of her. Her smile is infectious, and I cant tell what shes saying between giggles during her stories, but I know that she is full of love: the kind that children have when they dont know how bad the world can be.
Leena tells us that shes been in Portugal for a while, and that she saw most of the south coast on foot; the colours of her soles further proving the tales.
I walked for about twomaybe threeweeks?
My eyes are wide and my mouth taut. I cant believe she just said weeks? But her huge brown eyes light up when she tells us more about her coastal walk: the beaches, the sun, the hippie communities, but most of all the people she met. She goes on to say that she also gets to and from places by hitchhiking. Standing on the side of the road with a 20-something kilo backpack, alone, waiting for a stranger to give her a ride to a new destination.
My heart skips a beat. Of course, the horror stories flood my mind. I think of the people back home in Australia that would shake her and tell her not to be so stupid. The countless newspaper headlines of solo women travellers being killed while hitchhiking and trusting strangers. But she doesnt seem to flinch at my less than excitable reaction. Her eyes remain fixed on mine, with a smile pasted onto her face and her shoulders shrugged up comfortably.
I envy her. She seems to effortlessly ooze freedom. The reason I started travelling in the first place was to feel an...
My investigation in US magazine The Nation:
Soon after President Trump assumed office in January 2017, he had a phone call with Australian Prime Minister Malcolm Turnbull. The transcript of the conversation, leaked in August, revealed that the new US president admired his Australian counterpart because Turnbull was worse than I am on asylum seekers. Turnbull had proudly stated, If you try to come to Australia by boat, even if we think you are the best person in the world, even if you are a Nobel Prizewinning genius, we will not let you in.
In their phone call, the prime minister begged the US leader to adhere to a deal struck by Turnbull and former President Barack Obama the year before, in which the United States had agreed take up to 1,250 refugees imprisoned by Australia for years on Manus Island in Papua New Guinea (PNG) and Nauru in the Pacific. In exchange, Australia would take refugees from Central America.
Trump didnt understand why Australia couldnt take the PNG and Nauru refugees in. Turnbull responded, It is not because [the refugees] are bad people. It is because in order to stop people smugglers we had to deprive them of the product. Trump liked what he heard. That is a good idea, he said. We should do that too.
Turnbull was proudly explaining the complex system established by Australia many years earlier: Refugees are imprisoned in privatized, remote detention centers on the Australian mainland and on Pacific islands. Trump isnt the only one who is impressed; many Western leaders have not only expressed admiration for Australias draconian refugee policies but have initiated ways to implement them in their own nations to contend with the recent surge of people fleeing Africa and the Middle East.
The mainstreaming of xenophobia regarding refugees was perfected by Australian politicians more than 20 years ago. Along with a media-savvy mix of dog-whistling against ethnic groups with little social power, refugees have been accused of being dirty, suspicious, lazy, welfare-hungry, and potential terroristsand theyve been accused of refusing to assimilate, despite the countrys largely successful multicultural reality.
Australia hasnt been shy in offering advice to European nations struggling with an influx o...
My following book review appears in the Sydney Morning Herald/Melbourne Age today:
Addicted? How Addiction Affects Every One of Us and What We Can Do About It
Matt Noffs and Kieran Palmer
When the Australian Greens recently called for the legalisation and regulation of cannabis, following moves in countless US states, Uruguay and Canada, the response from the federal government was immediate. Health Minister Greg Hunt dismissed the idea as dangerous and argued marijuana was a gateway drug to harder substances such as ice and heroin.
The evidence for Hunts theory is highly contested, with countless, reputable studies showing that poverty and troubled social environment have far more influence on a persons drug intake than partaking in cannabis.
Hunts intervention followed a predictable route by opponents of serious drug reform (though hes pushing for Australia to become a global leader in medical marijuana). As similar debates have taken place across the world from opponents of Portugals successful decriminalisation of all drugs in 2001 to critics of heroin-assisted treatment in Switzerland many sensible ideas are shunned by prohibition advocates to maintain a law and order response to illicit substances. Decades of these policies have singularly failed to stem drug taking; the Global Drug Survey consistently finds that Australians are some of the highest users per capita of illegal drugs.
These are just some of the concerns eloquently expressed in this important book by two workers on the frontlines of the drug debate. Matt Noffs and Kieran Palmer work for the Noffs Foundation in Sydney, an organisation founded in 1970 by Reverend Ted Noffs and his wife Margaret. Its dedicated to assisting young people with drug and alcohol problems.
The message of Addicted? is largely about challenging the dangerous myths around drug use and advocating a more sensible approach: The causes of addiction are generalised: living in a rough area, being of lower-than-average intelligence, being of low socio-economic status, belonging to a particular culture, even having a certain skin colour. The inner qualities of addicts are also overgeneralised: they have no self-control, no willpower, no ambition, or have simply given up on lifeRarely, if ever, is substance dependence viewed as a health issue, affliction of the mind and body, perpetuated by poor or risky health-related b...
Here are the answers with discussion for this Weekends
Quiz. The information provided should help you work out
why you missed a question or three! If you havent already done the
Quiz from yesterday then have a go at it before you read the
answers. I hope this helps you develop an understanding of modern
monetary theory (MMT) and its application to macroeconomic
thinking. Comments as usual welcome, especially if I have made an
Modern Monetary Theory (MMT) recognises that the unemployed live of the hard work of those that are employed.
The answer is True.
Dispensing with the emotional trappings that this sort of claim might invoke (that is, judging individual motivation etc), this question explores the true relevance of the dependency ratio, which will rise as demographic changes age our populations. It also aims to disabuse the reader of the notion that the income support benefits are paid for by taxes that those in employment (and other income generating activities) might pay.
Initially, we have to be very clear as to what living off the hard work of those who pay taxes means. In this sense, it is not a focus on the income that the non-workers receive but the command over real good and services that that income provides them with. We will come back to the funds issue soon.
So the focus has to be on the real side of the economy because that is, ultimately, the only way our material living standards can be expressed. Nominal aggregates mean very little by themselves.
Income support recipients (who do not work for whatever reason) clearly command real resources that they have not themselves produced. These real goods and services are produced by those who do work (and the presumption is that most workers pay taxes of some sort or another).
The use of the emotive term living off the hard work was deliberate and designed, as a foil, to invoke the idea that governments have created welfare states which provide unsustainable benefits to the poor and marginalised at the expense of those who are materially successful the classic conservative argument against government welfare provision.
But it doesnt alter the truth of the statement.
A slight complicating factor is that the income support recipients also pay taxes if there are indirect tax systems in place but that doesnt alter the story about the provision of real goods and services.
Now the second part of the answer relates to the question of funding. In terms of where the funds come from to provide the income support for those who do not work the answer is simple: no-where......
September 2011 This Plan of Management has been prepared by Newtown Sustainability Group for the Camdenville Paddock Community Garden site to: Provide information on the use of the community garden site by members of the group. Encourage a cooperative and positive relationship between community gardeners and Camdenville Public School. Minimise the risk to the health 
Ballina Shire Council is encouraging motorists to drive safely from 10 July with king tides leading to minor flooding of some local roads.
Where possible, motorists, motorcyclists, pedestrians and cyclists should avoid affected roadways. Motorists are reminded the tides will be occurring during the evenings, and that salt water may also affect maintenance of vehicle and bodywork.
Roads likely to be affected by king tides and saltwater flooding include:
* Tamar Street, Ballina
* Riverside Drive, West Ballina
* River Street, West Ballina
* Burns Point Ferry Road, West Ballina
* North Creek Road, North Ballina
* Southern Cross Drive, North Ballina
* Uralba Road, Uralba
* Old Bangalow Road, Tintenbar
* Tamarind Dr, Cumbalum
For road information visit www.myroadinfo.com.au or telephone Ballina Shire Council on 1300 864 444.
Australias Minister for Social Service, Dan Tehan, announced July 1st, the Australian Government will monetarily penalize any citizen whose children are not up to date on their vaccinations. The penalty, in the form of a reduction of government payments, amounts to $56 (AUD) monthly.
This week I have given you some snippets from the fabulous program at this years Australian Historical Association conference, known on Twitter as #OzHA2018. But while it is important, it is not just the program that makes a conference enjoyable. Continue reading
Are you passionate about urban farming and community? Want to be a farmer with land to make your own while educating and inspiring others with your passion for sustainable food systems? CERES is seeking an Urban Farmer to manage two micro enterprises: Honey Lane Market Garden and Honey Lane Eggs. Working with volunteers and students 
A man will appear in court today after being charged with grooming a child at Lismore.
Police attached to Richmond Police District, acting on information provided by Task Force Argos, commenced an investigation into allegations that a man had attempted to groom a child on line.
Police will allege that the man engaged in email conversations and images were exchanged.
Following further investigations about 9am yesterday (Friday 6 July 2018), a 27-year-old man attended Lismore Police Station.
The man was arrested and interviewed.
He was later charged with use carriage service to groom a child under 16 years.
The man was refused bail to appear at Lismore Bail Court today (Saturday 7 July 2018).
Detective Chief Inspector Cameron Lindsay said, The case highlights the dangers the internet presents to teenagers and we encourage all parents to monitor their childrens interaction online.
Today we begin with a thought experiment.
Imagine you flip a coin 10 times in a row.
How many heads and tails do you roll?
Five and five?
Seven and three?
Nine and one?
All combinations are as equally possible as the others.
In terms of probability, the longer you flip a coin, the likelier it is that the amount of heads and tails you land on will be split down the line 50/50.
But theres an uncomfortable truth in this simple math.
If you flip a coin a thousand times, the first hundred attempts could easily land on heads.
The more times you flip a coin, the greater the likelihood that you can get a seemingly impossible chain of outcomes.
Its the same in the real world.
Its a big place. In which youll find some seven billion opinions.
Poll five economists and you may find a broad range of opinions on a variety of subjects. Yet, as unlikely as it may be, you could also find yourself polling the five economists in this world who think, talk and dress the same way.
That could be a problem if youre in the business of making money.
Youll have heard the saying a fool and his money are soon parted before.
It makes sense, doesnt it? Someone whos foolish and misinformed is more likely to see their wealth go up in smoke.
But how true is that?
Take Bernie Madoff, one of historys biggest conmen, as an example.
Did a billionaire like Madoff lose his fortune and freedom by scamming people of their wealth through a pyramid scheme? Was he a fool?
No, he was extremely clever. Otherwise he wouldnt have gotten away with what he did for as long as he did.
But what about the countless people that were scammed by Madoff into giving away their wealth? Were they fools?
Again, wed argue they werent.
Like Madoff, they wanted to get rich. People lose money through investments that dont work out, yes. But theyre not fools. Their motivation is to make money, not squander it.
That people lose money doesnt make them chumps. Its through risk-taking that most people build their wealth in the first place.
When youre seeking the opinion of others on financial matters, you always run the risk of not getting the full picture, and of parting with money despite your best intentions.
But its important to always keep in mind that there are many ideas in todays market that start and end with mistaken beliefs.
And thats exactly the......
In recent Chinese cryptocurrency news: a prominent scholar has advocated that China adopt a permissive regulatory apparatus, drawing influence from Japanese and U.S. legislation. Research conducted by the International Monetary Institute at Renmin University of China has estimated that the number of Chinese bitcoin investors exceeds 3 million, and an audio recording of famed bitcoin millionaire, Li Xiaolai, giving a scathing appraisal of several leading altcoins has been leaked.
The vice president of the Internet Finance Law Research Institute of the Beijing Law Society and professor of finance at the China University of Political S...
The former PM is making noise but the real threat to sorting out energy policy is elsewhereTony Abbott seems mired in the first stages of grief: denial and anger.This week we were treated to a former prime minister making a political comeback pitch that went like this: I had no idea what I was doing when I took the decision to sign Australia up to the Paris climate agreement in 2015, I have a lot of feelings and I don't mind sharing them, be the wind beneath my wings. Related: Turnbull [...]
In a world where vaccinations are a very controversial topic, Australia is making headlines. The Australian government recently re-upped their already strong vaccination laws and the changes are quite interesting.
Any parents who do not vaccinate will lose part of their biweekly support payments. It will be around 30 dollars per un-vaccinated child per each two week period. While this might not sound like much, it will really add up.
Parents who dont vaccinate their children against disease will lose part of their fortnightly family support payment starting 1 July.
Family Tax Benefit Part A payments will be reduced by about $28 a fortnight for each child who does not meet immunization requirements, under tougher No Jab, No Pay rules.
The change to No Jab, No Pay provides a constant reminder for parents to keep their childrens immunization up to date.
Immunisation is the safest way to protect children from vaccine-preventable diseases.
Parents who dont immunize their children are putting their own kids at risk as well as the children of other people.
Since the Turnbull Government introduced No Jab, No Pay in 2016 about 246,000 children and their families have taken action to ensure they meet the immunization requirements.
The Turnbull Government provided more than $14 million in last years Budget for free, catch-up vaccinations for children, young adults, and newly arrived refugees.
It also provided $5.5 million over three years to encourage Australian parents and carers to vaccinate their children.
Exemptions apply for children who have medical contraindications or natural immunity and have been assessed by a general practitioner.
Parents who refuse to immunise their children will begin paying for the choice from today. The government will slash fortnightly family payments by $28 per un-vaccinated child as part of their no jab, no pay policy.#7News pic.twitter.com/9VnbOnwuYX
7 News Sydney (@7NewsSydney)...
As soon as you take a closer look at the familiar world around you, youll find a lot of new, interesting and sometimes wonderful things in it. Believe it or not, there are many once-in-a-lifetime events that happen all the time and continue to astonish us even years later. One of them, for example, was the laughter outbreak of 1962, when more than a thousand people couldnt stop laughing 
Biologist David Mackay got a surprise when he began studying the birds visiting fig trees in his native Australia: While he expected to see plenty of species coming to eat the figs, he didnt expect the insect eaters to outnumber them two-to-one. Mackay already knew that figs feed more bird species than any other fruit. His research, published in the journal Global Ecology and Conservation in June, would show that fig trees are disproportionately important for insect-eaters, too. It adds to growing evidence that fig trees are titans of biodiversity with important roles to play in conservation. What makes fig trees so crucial is their ancient relationship with tiny wasps. The trees depend on the wasps to pollinate their flowers, while the wasps can only breed and lay eggs inside their partners figs. Thanks to this partnership, figs are available year-round and have been called keystone resources for fruit eaters. Mackays study is the first to show that fig-wasps emerging from figs before they ripen are also valuable year-round resources for a diverse variety of insect-eating birds. Altogether, Mackay recorded 55 bird species visiting Ficus rubiginosa fig trees to feed on insects. They included ten species such as the superb fairy-wren and the shining bronze-cuckoo whose recent declines in numbers have concerned conservationists. Mackay and his colleagues say fig trees are very likely to be similarly important to insect-eating birds throughout tropical, subtropical, and temperate regions globally. Shining bronze-cuckoo (Chrysococcyx lucidus). Photo via Wikimedia Commons, licensed under CC
Crypto exchange Huobi has started trading in Australia with 10 pairs against the AUD, including bitcoin cash (BCH). More trading pairs will be added in the future. The platform also plans to partner with local startups through its investment fund and a subsidiary.
Cryptocurrency exchange Huobi has announced it is launching in Australia. Ten pairs against the Australian dollar (AUD) are supported from Thursday, July 5. These include bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH), ethereum classic (ETC), and litecoin (LTC). More trading pairs will be made available to Australian traders in the future. Huobi Australia CEO Adrian Harrison commented:
Crypto traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market.
The Singapore-based trading platform also plans to set up partnerships with the growing number of Australian startups working on a variety of blockchain-oriented projects. The cooperation is expected to be channeled through Huobis $200 million Global Ecosystem Fund and Huobi Capital, an investment subsidiary.
We used to ridicule the communists for using sport as a proxy for economic success. Now, with the vast sums thrown at Team GB and athletes declared 'heroes', we're copying them Australia's cycling star, Anna Meares, said of Britain's triumphant cyclists: "They've got it together ... but, to be honest, I'm not exactly sure what they've got together." The French and Germans were heard to murmur likewise. One interpretation could be that murky word "cheating", although Meares strongly denied that she had ever suggested this. Given the recent history of the Olympics and the fierce pressure on British athletes, the accusation is pardonable. I doubt if it is true. What Britain "got together" was the money. Is that cheating? Comment: The author, a British journalist, has insight, a rare pairing, but only so much of it. Yes of course British athletes are cheating, as we now know thanks to leaked WADA documents. And they're cheating with state and international support, if not outright sponsorship. I have intermittently enjoyed the Olympics on television. Mostly it is hours of flatulent BBC staff killing time by interviewing one another, interspersed with a few seconds of mostly baffling hysterics. Clare Balding appears in perpetual shriek: "Oh my God, I think our great British paint is drying faster than the Russian and the Colombian paint - but we must await a decision from the judges."
Great event to launch the @iucn global MPA standards w/ @SethHorstmeyer @NinaBhola Chris Santora, me, @JaneLubchenco and @saltylance giving remarks on their development and importance.Angelo Villagomez (@TaotaoTasi) June 25, 2018
Thanks for attending!!#IMCC5 pic.twitter.com/8awKADsTJC
I had a sinking feeling in Sydneys Four Seasons Hotel listening to Treasurer Scott Morrison guarantee that he would be able to deliver permanent tax cuts and properly fund the National Disability Insurance Scheme in this years budget and beyond without any longer needing an extra levy.
Id heard it before, more or less, in the Great Hall of Parliament House in 2012. The speaker was Wayne Swan, Morrisons long-term Labor predecessor, who after years of bad luck including the global financial crisis was finding revenue turning up.
I am proud to announce a new Spreading the Benefits of the Boom package, he told us. It was time to share the proceeds of the mining boom with families and businesses, and the disabled.
In the budget he had funded the first stage of the National Disability Insurance Scheme - the first $1 billion over four years; he increased funding for dental services, aged care, hospitals, infrastructure and superannuation, all because for too many Australians this feels like someone elses mining boom''.
I wrote on my notepad that day that the boom would end when the demand for Australias minerals faded, but that the spending Swan had put in train to share the benefits would continue.
In retrospect Swan was unwise to be so generous with something that wouldnt last, but few in the room that day spoke up.In The Age and Sydney Morning Herald
Switzerlands principal stock exchange has announced its developing a blockchain based platform to tokenize traditional securities with further trading, settlement and custody services for these tokenized assets. In a statement on Friday, SIX Swiss Exchange said itll build the brand new initiative dubbed SIX Digital Exchange on a distributed book with its specialized experience in operating a large scale financial infrastructure. As regulated stock trading system, Swiss Exchange further stated the SDX may have the exact same standard of supervision and regulation upon completion and will be supervised by Korean financial regulators. In an e-mail response, a representative from SIX, a company that owns Swiss Exchange, told CoinDesk that the development process will be broken up into a number of phases with a preliminary plan for debut next year.
The very initial step is to build up a regulated exchange platform. In a second phase well give the support to tokenize existing bankable assets that will be followed closely by the tokenization of non bankable assets. Following a flexible approach to meet the needs of todays dynamic environment, the first solutions will be rolled out in mid-2019, the company said. On the other hand, the exchange mentioned that the aim of the platform isnt for trading cryptocurrencies, but rather a market where traditional investors may digitalize their assets using distributed ledger technology. Jos Dijsselhof, Managing Director of SIX, stated in the statement: This is the onset of a brand new era for capital markets infrastructures.
For us its abundantly obvious that a lot of whats going on in the digital space is here to remain and will specify the future of our business. The financial sector today wants to bridge the gap between traditional financial services and digital communities. The Swiss exchange isnt the only trading platform thats exploring how to integrate distributed ledger technology to its existing business operations. As previously reported by CoinDesk, the Australia Securities Exchange has started its own blockchain work since 2015 and eyes a 2020 roll out to replace its CHESS clearing and Settlement System. SIX picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Where are the billions coming from? In part, from property. This financial year Treasurer Tim Pallas will get $6.6 billion from property stamp duty, up from $5.4 billion in 2015-16. He will get $2.4 billion from land tax, up from $1.7 billion in 2015.
The good news is that Victorian property values are staying high. Sydney prices slid 1.7 per cent in the three months to March whereas Melbourne prices slipped just 0.5 per cent.
Going forward, Tuesdays budget will forecast still high but lower income from stamp duty, a judgment that looks about right. Melbournes population growth is the strongest in Australia, which means Melbourne property prices are more likely than most to stay high.
Many more of the billions will come from asset sales. The Turnbull government will pay the Andrews government a touch over $2 billion for Victorias share of Snowy Hydro, and a private buyer will pay it an estimated $2 billion for the right to run the land titles registry.
Victoria will get $16.8 billion from the Commonwealth Grants Commission in goods and services tax collections, thats about $900 million more than it expected. Itll reflect both Victorias bigger than expected population, and its lower than expected share of Commonwealth infrastructure grants. The Grants Commissions formula requires it to compensate for Commonwealth stinginess after enough years have passed, and the Abbott and Turnbull governments have been stingy long enough for the compensation to kick in.
And the Commonwealth is at last becoming more generous. The $5 billion promised for a Melbourne Airport rail link and the $1.42 billion promised for regional rail are making things easier.
The economy itself is helping. One in every ten jobs in Victoria has been created in the past 3 years, since the election of the Andrews government. One in every seven dollars sloshing around in the economy wasnt there before Andrews was elected and (coincidentally) Victorias population growth took off.
Its impressive, but doesnt quite explain how Tim Pallas can promise to spend $10 billion a year on infrastructure for the next four years and still bring in a surplus.
The answer lies in a quaint state budget accounting convention. When the money is spent, it isnt spent as far as the budget is concerned. All that appears on the budget are the interest...
Suddenly weve wised up. As far back as any of us can remember, all the way back to the beginning of income tax, weve been easy to bribe.
Heres how it has worked in every election and in almost every budget: Youve been working hard and paying too much tax. We feel your pain. Weve magically found some money from somewhere. Were pulling a tax cut out of a hat. You can thank us later.
That the rabbit was our own money, taken from us in ever-increasing amounts through an automatic process known as bracket creep, and then only partly returned, was the trick we werent invited to dwell on.
Heres how it will work this time. In the year ahead wages will probably climb 2.1 per cent. Itll push a greater proportion of our pay into the highest rate of tax we pay. All by itself that will push up the total amount of tax we pay by around $6 billion, even though our actual buying power, our inflation-adjusted wages, might not much change. The budget tax cuts will give us back some of it: around $4.4 billion.
Hey presto. Were supposed to be awed.
Even after 10 years, after the third and most expensive phase of the Morrison tax cuts announced on budget night, middle earners will still find themselves paying 3 per cent more of their income in tax than they do right now: 18 per cent instead of 15 per cent, according to the Grattan Institute. Only the very highest earners - the top 10 per cent - will get their bracket creep back.
(We need to rely on organisations such as the Grattan Institute and the Parliamentary Budget Office for the calculations because the government wont provide them for us. It wants us to be in awe of the trick without seeing how it's done.)
It helps that bracket creep isnt widely understood, certainly not by shock jocks such as Sydneys Ray Hadley (it simply means that people who were formerly taxed at the lower income rate through no fault of their own go on to the next income rate), Nor, on the face of it, by the Treasurer himself, who on Monday said that the third and final stage of his plan that levelled the tax rate between $41,001 and $200,000 meant that for most Australians, who will earn over their lifetime somewhere between $40,000 and up to $200,000, they will ne...
Well find out if the FBI has been lying to the public. Lawmakers demand the truth about the origin of the 2016 Trump investigation.
July 5, 2018 7:28 p.m. ET
In the trench war between congressional Republicans and the Federal Bureau of Investigation, we have arrived at a crucial battle. A House resolution sets Friday as the deadline for the Justice Department to come clean on the beginning of its investigation into the Trump campaign. Well find out if the FBI has been lying to the public.
That is, if the department complies. It has flouted so many subpoenas, and played so many games with redactions and deadlines, that the entire House GOP unite...
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