From the Oz.

The Northern Territory government’s most high-profile challenge is crime but behind the scenes the deeper crisis is debt. Lia Finocchiaro is poised to inherit a wicked problem decades in the making. Her ability to address the crime and social dysfunction in Alice Springs and beyond is severely impaired by the fact the territory of 233,000 people is a financial basket case.
It is beyond a commonwealth bail out. The NT has a net debt 10.82bn. By contrast there is sheer panic in Tasmania over a $3.5bn debt on an island of $541,000 people. Keep in mind, Tasmania does not have the social problems that the NT has. Its residents are in relative good health. Tasmania has also got 12 senators advocating for its interests in the federal parliament, thanks to a requirement in the constitution that gives every state 12 senators regardless of population and size. The top end has just two senators. And the hard work facing Ms Finocchiaro is unique Australia-wide because 30.8 per cent of NT residents are Indigenous. The Australian’s health editor Natasha Robinson has shown us in eye-opening reports why this matters. Central Australia is a global diabetes capital. NT hospitals are overwhelmed with diabetes admissions and required amputations on younger and younger Indigenous people. In the northwest corner of the NT in Arnhem Land, men die – on average – aged 54. All manner of chronic and preventable illnesses hit the top end’s Indigenous residents at shocking rates.

Eva Lawless

Appropriate surname. And like all leftoid sheilas she looks like a baboon’s arse.

The deluded Cult of Kamala is now blindly worshipping a vacuous, policy-free and utterly inept leader. But, says MAUREEN CALLAHAN, this might just be the rocket fuel Trump sorely needed

Anyone more unfit than her would be hard to find.
Fox News Shocks Viewers with Mass GOP Endorsement for Kamala Harris, Declaring Donald Trump ‘Unfit’

Dr. Anthony Fauci Hospitalized for Six Days with West Nile Virus, Now Recovering at Home

@JoshWalkos

These people at the DNC had no idea this dude is making fun of them.

GreyRanga
August 24, 2024 8:49 pm

My surgery has been put back to Thursday. Why do they always get the ugly nurses to do the icky tests. This place is full of hot young ladies but I get the 4’9” in every direction to stick the swab up my cute bottom. Same thing the other day getting my groin shaved. Life can be so cruel. In my case I suppose the crackers had first choice, so passed.

All the best, bloke.

American Peronism: Kamala’s Plan to Ruin America’s Economy

Daniel Lacalle, Mises Institute, 24 August 2024

Price controls, higher taxes, government intervention, and subsidies paid for by printing a constantly devalued currency.

These are the essential pillars of “21st century socialism” and the radical left Peronism that obliterated Argentina. These are also the main elements of the economic plan presented by Kamala Harris and the Democratic Party. Undoubtedly, this is the most radical socialist economic plan ever announced by the Democrats.

According to the Committee for a Responsible Federal Budget (CRFB), Harris’s proposals will cost $1.95 trillion over 10 years. However, it emphasizes that if certain measures become permanent, this figure could increase to $2.25 trillion.

The Harris campaign has stated that these costs will be offset by a classic excuse of socialism in any election: “higher taxes on corporations and high earners.” This is, obviously, ludicrous, because there is no revenue measure that will cover the already bloated $2 trillion annual deficit and an added $2 trillion. The mantra of “higher taxes for the rich” always means higher taxes and more inflation, a hidden tax, for you.

The Congressional Budget Office (CBO) has already warned of the fiscal disaster of the United States, with an annual deficit of 6% of GDP. Despite not accounting for a recession and projecting record tax revenues from 2024 to 2034, the CBO predicts an explosion in the budget deficit from $1.9 trillion to $2.8 trillion by 2034, even before factoring in Harris’s new spending plan. This means that the adjusted deficit will rise above 6.9 percent of GDP by 2034, almost twice the average of 3.7 percent over the previous 50 years.

 

Following the Harris plan, the United States public debt will likely increase by $24 trillion in a decade. As I have explained, there is no set of revenue measures that can bring $2 trillion per year in additional tax receipts, and tax hikes will harm both investment and growth.

An economy that generates an annual deficit of 6 percent of GDP to achieve a mere 2 percent annual growth is already on a dangerous path, and Harris’ plan would make it even worse.

Kamala Harris promises to cut inflation by spending and printing more money, reducing competition, and attacking businesses. It has never worked and never will because it is upside-down economics. Welcome to the U.S. “Peronism.”.

Imagine all those United States citizens who have escaped Latin American or European economies impoverished by interventionism to find a better opportunity in the United States only to find that the same policies will be implemented by Harris.

The narrative of price gouging and greedflation is simply false. In 2023, profit margins in the grocery industry hit the lowest level since 2019, at 1.6%, according to the IMF. Corporations, even if they were stupid and reckless, cannot make all prices rise constantly. Competition would eat away at their market share; newcomers would eliminate them, and aggregate prices would fall. Furthermore, stores and businesses cannot make aggregate prices soar, maintain the increase, and consolidate it, which is the measure of inflation (CPI) we read every month. The only thing that can make all prices rise and continue increasing at a slower pace is printing money and eroding the purchasing power of the currency.

The only thing that can make aggregate prices rise constantly is the destruction of the purchasing power of the currency, which comes from massive government spending and printing currency to disguise fiscal imbalances.

Kamala Harris and her team know that their spending plan will make the national debt soar and that price controls do not reduce prices. In fact, these should not be called “price controls” but “limits to competition.” If corporations were the cause of inflation and price controls were the solution, Peronist Argentina would have enjoyed the lowest inflation in the world in the past decades.

Harris’ proposals to forgive debt are profoundly anti-social. They do not forgive any debt; they just add it to the national debt and make you pay for it. This enormous increase in public debt will be a burden for every American, particularly the poorest, with persistent inflation and lower real wages. US citizens have already endured negative real wage growth since January 2021, when Biden took office, according to the Federal reserve of St Louis. Expect worse.

Why does Harris promote the same policies that have failed everywhere? Promising free stuff and blaming others for the negative consequences is the defining strategy of socialist politicians.

Are you surprised to see how Germany, France, and other historically rich nations slump into stagnation, high debt, persistent inflation, enormous taxes, and the destruction of the middle class? Those policies are what Harris is promising. Who benefits? The vast government and its surrounding corporations reap the benefits.

Many people hold the belief that a nation cannot be considered socialist if it contains private companies. It makes no sense. State control does not limit itself to capital ownership but also to the imposition of increasingly restrictive laws, regulations, and confiscatory taxes. In fact, the government likes to absorb most of the wealth created by the private sector without the inconvenience of managing the businesses. Huerta de Soto defines socialism as “any system of institutional, methodical aggression against the free exercise of entrepreneurship” and that is precisely what Harris promises.

Higher taxes and more debt.

The government will print money to provide subsidies in a currency that is constantly losing value. It will blame stores and businesses for inflation. Interventionist policies will continue to erode the private sector. And they will repeat.

The makers of these policies are aware that they will negatively impact the economy, yet they will also engender a substantial number of enslaved citizens who rely on the government and must abide by its decisions. Voters see an alleged tsunami of free money but ignore the fact that they will pay for it through higher inflation, lower real wages, and diminishing opportunities for small businesses and families.

The Harris team believes deficits do not matter and that the Federal Reserve can always disguise any budget imbalance. However, cracks have already appeared. Persistent inflation is the consequence of years of excessive spending and monetization. The next step is the risk of losing the U.S. dollar as the world reserve currency when the world stops accepting the ever-increasing debt.

@catturd2

The joy has worn off.

German police made the arrest at a hotel for asylum seekers not far from the scene of the attack, which was claimed by Islamic State as ‘revenge for Muslims in Palestine’.

It started with rhetoric.

Flashback: Keir Starmer on the 2020 BLM Riots

Famous influencers are dropping like flies: Why?

One of the comments –

I lost my business, lost my house, lost my friends, lost my wife… but I didn’t get jabbed. I am not here for forgiveness.

Ms. Plibersek has some more explaining to do:

The location of the secret water spirit business that meant a billion dollar gold mine couldn’t proceed is reportedly part of an operating farm.

But for section 10 of the relevant legislation to apply, the land must be restricted solely to indigenous use.

Aaaah! the fickle hand of “chance” favours the brave .. LOL!
4 leg bet last night 3x thugby, 1x fitba .. The 3 thugby legs are in but the fitba Brighton v Man Utd playing a draw at 88 minutes .. Cash-out is $45 result is $152 .. what to do ..
The, bloody, obvious, & takes the $45 .. extra time Brighton scores .. winz .. duuuuuuh!
Sez it all, about my luck, really .. LOL!

Fox has not dis-endorsed Trump; they merely published a list of RINOs including kinzinger and other shitheads who have. In other news RFK jr’s daffy family including his sister Kerry have dis-endorsed him and stated cackles and tampon tim offer the best hope for the US. I left a message on the shit brain’s X account asking if she felt that way about cackles 2 months ago when she was the most unpopular VP ever.

In other news a really great Week in Culture, focusing on the DNC shit show; lots of clips guaranteed to make you wake up in a cold sweat at 2 am:

THIS WEEK IN CULTURE #200 (rumble.com)