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Australia Day Redux

I think Minnie Mace who I saw on SBS’s Living Black quite some time ago talking about various faiths of today’s Aboriginals said it best.

She said:

I think that all faiths, religions are like a string of pearls with a thread of truth running through all of them. And I believe that respect for one’s self, respect of others and respect for the environment, the sum total is the respect for God. I don’t believe in an invasion because I believe in a divine arrangement. The English language has broken down 600 language barriers – we couldn’t even talk to each other. And if I don’t want to get up in the morning, I don’t have to – I’ve got a fridge at home, I don’t have to hunt and gather every day to survive. And I’d rather be tracking down a kangaroo on the back of a fast-moving ute than running him down on foot. Our ancestors suffered so we could have all these benefits today and our kids don’t respect anything because they’re so full of hate and anger and that’s brought about by these academics perpetuating a noble savage on one hand, and we have a sense of grieving for paradise lost, and, on the other hand, it’s an invasion. We were advancing spiritually and they were advancing technologically and now we’ve all been brought together we have to understand each other’s culture, each other’s belief and then set a good standard for the future generations.

That’s such a beautiful and honest way of looking at it.

Jeremy Kewley from the former police drama stingers, once summed up Australia day in this way:

Australia Day is a day of celebration, commemoration and a day of profound reflection.

A day where we can pause to look back over thousands of years,
To what this country was and what it has become,
To what we have done – both good and bad, for and with, our country.

Australia Day is a time to understand and acknowledge our mistakes and learn from them and then to use that knowledge and understanding to move forward.

A day where we can celebrate what we have today ?

Our tolerance – our acceptance of others and their acceptance of us,
Our diversity – from culture to food, from language to religion.
Our landscape – vast and exhilarating, green and gold, deep red and ocean blue.
Our lifestyle – relaxed, casual, informal and welcoming.
Our sense of humour – never taking ourselves too seriously.
Our mateship – a common bond which all Australians seem to ‘understand’.

And our luck at living in Australia,
One of the most beautiful places on Earth.

Another beautiful and honest way.

Personally I think Australia Day is best summed up by the words of the famous song ? I am Australian

I came from the dreamtime from the dusty red soil plains
I am the ancient heart, the keeper of the flame
I stood upon the rocky shore
I watched the tall ships come
For forty thousand years I’d been the first Australian.

I came upon the prison ship bowed down by iron chains.
I cleared the land, endured the lash and waited for the rains.
I’m a settler.
I’m a farmer’s wife on a dry and barren run
A convict then a free man I became Australian.

I’m the daughter of a digger who sought the mother lode
The girl became a woman on the long and dusty road
I’m a child of the depression
I saw the good times come
I’m a bushy, I’m a battler
I am Australian

We are one, but we are many
And from all the lands on earth we come
We share a dream and sing with one voice:
I am, you are, we are Australian
I am, you are, we are Australian.

As Australians we come from a variety of backgrounds, a variety of cultures and today we celebrate, commemorate and reflect on our history. It is the new millennium; it is a time to move forward, it is a time for progress. It is time for Australia to succeed. Australia is proud of her history of hard yakka. It is in our blood, it is in our hearts, its in our hands. Today I am proud to be Australian.

RePost: Australia Day

I think Minnie Mace who I saw on SBS’s Living Black quite some time ago talking about various faiths of today’s Aboriginals said it best.

She said:

I think that all faiths, religions are like a string of pearls with a thread of truth running through all of them. And I believe that respect for one’s self, respect of others and respect for the environment, the sum total is the respect for God. I don’t believe in an invasion because I believe in a divine arrangement. The English language has broken down 600 language barriers – we couldn’t even talk to each other. And if I don’t want to get up in the morning, I don’t have to – I’ve got a fridge at home, I don’t have to hunt and gather every day to survive. And I’d rather be tracking down a kangaroo on the back of a fast-moving ute than running him down on foot. Our ancestors suffered so we could have all these benefits today and our kids don’t respect anything because they’re so full of hate and anger and that’s brought about by these academics perpetuating a noble savage on one hand, and we have a sense of grieving for paradise lost, and, on the other hand, it’s an invasion. We were advancing spiritually and they were advancing technologically and now we’ve all been brought together we have to understand each other’s culture, each other’s belief and then set a good standard for the future generations.

That’s such a beautiful and honest way of looking at it.

Jeremy Kewley from the former police drama stingers, once summed up Australia day in this way:

Australia Day is a day of celebration, commemoration and a day of profound reflection.

A day where we can pause to look back over thousands of years,
To what this country was and what it has become,
To what we have done – both good and bad, for and with, our country.

Australia Day is a time to understand and acknowledge our mistakes and learn from them and then to use that knowledge and understanding to move forward.

A day where we can celebrate what we have today ?

Our tolerance – our acceptance of others and their acceptance of us,
Our diversity – from culture to food, from language to religion.
Our landscape – vast and exhilarating, green and gold, deep red and ocean blue.
Our lifestyle – relaxed, casual, informal and welcoming.
Our sense of humour – never taking ourselves too seriously.
Our mateship – a common bond which all Australians seem to ‘understand’.

And our luck at living in Australia,
One of the most beautiful places on Earth.

Another beautiful and honest way.

Personally I think Australia Day is best summed up by the words of the famous song ? I am Australian

I came from the dreamtime from the dusty red soil plains
I am the ancient heart, the keeper of the flame
I stood upon the rocky shore
I watched the tall ships come
For forty thousand years I’d been the first Australian.

I came upon the prison ship bowed down by iron chains.
I cleared the land, endured the lash and waited for the rains.
I’m a settler.
I’m a farmer’s wife on a dry and barren run
A convict then a free man I became Australian.

I’m the daughter of a digger who sought the mother lode
The girl became a woman on the long and dusty road
I’m a child of the depression
I saw the good times come
I’m a bushy, I’m a battler
I am Australian

We are one, but we are many
And from all the lands on earth we come
We share a dream and sing with one voice:
I am, you are, we are Australian
I am, you are, we are Australian.

As Australians we come from a variety of backgrounds, a variety of cultures and today we celebrate, commemorate and reflect on our history. It is the new millennium; it is a time to move forward, it is a time for progress. It is time for Australia to succeed. Australia is proud of her history of hard yakka. It is in our blood, it is in our hearts, its in our hands. Today I am proud to be Australian.

What is Modern Monetary Theory?

Before we begin, let me just say this is not an introduction to Modern Monetary Theory (MMT).

I’ve been trawling my new local haunt over at Macrobusiness but to understand what I’m about to say (or rather quote) you will need to have some passing familiarity with Modern Money Mechanics.  What caught my eye was a comment by someone using the ever popular nom de guerre Montgomery Burns from July:

To the extent that MMT is a description of the operational and accounting realities it is not an ideology any more than me saying my car is white is an ideology [unless it is not white :) ]. If we get a budget surplus in this country we will have a private sector deficit (we run a current account deficit). That is just a statement of accounting e.g. when I asked Saul Eslake about this when he wrote a column a couple of months ago he produced treasury estimates that showed a decline in the private sector (in the event of a government surplus).

Some MMT commentators attach an ideological perspective to that operational understanding but people need to distinguish between editorial and fact. MMT is independent of ideology. As Harrison himself says MMT is not incompatible with libertarian views (because it is a description of the monetary system).

Most, if not all, economic ideologies seem to derive from gold standard days and apply gold standard thinking which is why they don’t get it and why they keep frakking up the economy, and why they can’t distinguish Greek debt from Japanese debt.

The short answer of course is one is sovereign in its own currency (it issues it) and the other is not.  I would love to see a copy of those treasury estimates Saul Eslake produced, assuming of course Burns recollections are correct.

I do note that Monty alternates pseudonyms but his gravatar is always consistent.

http://1.gravatar.com/avatar/f8c03a93dd5b2452b60753ea7691168c?s=60&d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D60&r=G

A Rebuttal of Say’s Law

Feeling Lazy, this is a repost of what I recently wrote at Modern Money

This blog is in response to Free Market Economics: an Introduction for the General Reader and its comments.  Who knew I had another post in me?  The blog post says:

A book dealing with macroeconomic issues without a discussion of aggregate demand will be a novelty

David Leyonhjelm asks the pertinent question:

…but I thought aggregate demand was a fundamental economic principle…Do I need to read your book to understand, or is it simple to explain?

To which another commenter answers: “Say’s Law“.

I began to type the following as a comment in reply to the blog post:

Say’s Law says supply creates its own demand, right?

According to latest statistics with  five per cent (5%)  unemployed, broadly speaking twelve percent (12%) underemployed and according to the way the statistics are taken in Australia, you only count as unemployed if your looking for a job – that is if you actually want one.  That is to go through the rigmarole of seeking-work tests according to legislation.

Today’s Labour Force figures shows unemployment static – so either you’re calling roughly 1.4 million Australians a liar or Say’s Law is wrong.  Otherwise there would  be jobs for them after all supply creates its own demand.

And if there is  no aggregate demand than there is no fallacy of composition (paradox of thrift) either?

Empirical evidence doesn’t seem to win that argument either as Europe and the United States of America shows in the case of each of their respective economies.

If no one is spending, no one is selling, which means jobs are lost and unemployment rises.

Of course you could counter argue that labour is not a product or a commodity. After all, products are paid with products.  However, the treatment of labour as buffer stock as has been done with diamonds, wool, copper, says otherwise.  All have been price stabilisation mechanisms just as a buffer stock of the commodity known as labour is an attempt to control the mythical NAIRU.

Where is Senexx?

Senexx is off maintaining two blogs including this one.  And for some bizarre reason Senexx is talking about himself in the third person.  He blames the title of this post, maybe he should have filled that in last eh?

Senexx has shut down this blog http://ozbrowncoats.wordpress.com – a blog about the Independents and moved all the posts here. Still working on moving some links.

Senexx’s secondary blog is NOW this one – https://senexx.wordpress.com/

Senexx’s primary blog is about economics with the only economic school of thought that seems to make sense and doesn’t have to make up models to fit the gaps other economic schools of thought leave – that’s at http://modernmoney.wordpress.com/

I’m not sure what will happen to this blog (senexx.wordpress.com) in the meantime.  It will either stick to more generic politics (non-Independents) or diversify into other areas.  And would you look at that <—- First Person is Back!!

Updated this post 14/11/12

ANZAC Day

This is the post I write every ANZAC DAY

ANZAC Day is a national day of pride. A day of pride in the enduring spirit of mateship and ingenuity.

ANZAC Day is not just a day based on the remembering the events of Gallipoli and our lucky escape. It is remembering all the fallen Australians and what they fought for – whether it was the spirit of adventure, the defense of the British Empire or for the defence of the nation. In a way its probably a second rememberance/armistice day.

It is through these bonds of mateship that were long established in Australia before we federated our nation that Australia became what it is today. It was in the days when the country still rode on the sheep’s back, we faced up to the harshness of working the Australian land but we were relatively relaxed because of the great distances involved in travelling from one station to another. We never really rushed unless there was an emergency. This is one of the reasons Australia is so relaxed today. Today it is sometimes referred to laziness but for me that is only for those that don’t understand the genesis of Australia.

Mateship was also defined for me in the war mythos of Australia. My recollecctions are not entirely what they used to be but one such story in I think WWI was the Aussies kept coming, if their leader had been killed, someone else would take charge and if that person was killed then someone else would and so on, all the way down the line.

There are a few that remain that promote that ANZAC Day is about Nationalism but I feel too often they mix up nationalism with patriotism.

The Oxford English Dictionary defines nationalism as: Advocacy of or support for the interests of one’s own nation, esp. to the exclusion or detriment of the interests of other nations. Also: advocacy of or support for national independence or self-determination.”

Patriotism as: 1.The character or passion of a patriot; love of or zealous devotion to one’s country.

2. One who disinterestedly or self-sacrificingly exerts himself to promote the wellbeing of his country; one whose ruling passion is the love of his country; one who maintains and defends his country’s freedom or rights.

As you can see there are distinct differences.

There is at least one thing I can agree on with Mr Howard:

Mr Howard said his tenure in the Lodge had brought back a sense of inner strength to Australians, to believe in themselves and their country.

Only one day each year!

Its that time of the year …

And you’ve caught me.  I stole these lines from someone else.  They do say plagiarism is the sincerest form of flattery.

I received some lovely clothing, had a lovely meal and a great cake.

Birthday Cake

You’ve got me again.  I stole that too.

I’m just a petty thief.  I probably come from a long line of them too.  I am Australian after all.

I will not say how old I am but today I am officially old.

I share this day with royalty, Prince Edward and alleged assassins, the late James Earl Ray and Osama Bin Laden amongst others like Sharon Stone and Carrie Underwood.