MONEY NEWS 03.10.2017
In this interview with Ross Greenwood, Roger Montgomery discusses the issue of not adding value to our exports and that our export revenue is never enough to pay for our imports.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
xiao fang xu
:
Government needs to do something about…:
I wish some one would offer a prize for a good, simple, and intelligent definition of the word “Government.”
What an immense service it would confer on society !
The Government! what is it? where is it? what does it do? what ought it to do? All we know is, that it is a mysterious personage; and, assuredly, it is the most solicited, the most tormented, the most overwhelmed, the most admired, the most accused, the most invoked, and the most provoked of any personage in the world.
I have not the pleasure of knowing my reader but I would stake ten to one that for six months he has been making Utopias, and if so, that he is looking to Government for the realization of them.
And should the reader happen to be a lady: I have no doubt that she is sincerely desirous of seeing all the evils of suffering humanity remedied, and that she thinks this might easily be done, if Government would only undertake it.
But, alas! that poor unfortunate personage, like Figaro, knows not to whom to listen, nor where to turn. The hundred thousand mouths of the press and of the platform cry out all at once —
http://bastiat.org/en/government.html
Government is inherently incompetent, and no matter what task it is assigned, it will do that task in the most expensive and inefficient way possible.
‘competitive advantage’ – “being able to do what rivals cannot.”
Australia is particularly rich in natural resources and primary industries. They include:
uranium
coal
iron ore
natural gas
oil
opals, sapphires, rubies, diamonds and other precious stones
metals such as silver, lead, zinc, tin, gold, nickel
bauxite
wool
lamb, beef, veal, pork, poultry
Mineral sands
sugar
fruits and vegetable crops
grains
cereal grains
salt
oils
nothing wrong to export dirt.
our electricity price should be cheapest in the world.
australia should be top electricity exporter
“There is no such thing as macroeconomics.”
-in the fiat-money era, balance of payments deficits are truly meaningless
-the absurdity of worrying about the balance of payments is made evident by focusing on inter-state trade. For nobody worries about the balance of payments between New York and New Jersey, or, for that matter, between Manhattan and Brooklyn, because there are no customs officials recording such trade and such balances.
The international gold standard provided an automatic market mechanism for checking the inflationary potential of government. It also provided an automatic mechanism for keeping the balance of payments of each country in equilibrium.
Why is there so much unemployment and underemployment
Government policies contribute to unemployment above and beyond natural unemployment.
Our lives are regulated, observed, subsidized and intimidated by so many government agencies that it’s impossible to keep up.
LIke:
welfare system
red tape : laws and regulations which interfere with free market in labour
Problem is Big Government
Solution is: federalism, decentralization, honest money, Biblical principle of taxation — less than 10% for all, no concurrent taxation. Each level of civil government above the local must tax only that level of government beneath it.