Via wiredog, GPS, Australia and tourism. (more)
There is a surprising lack of choice of Australian beer in America. Most shops stock Fosters but it is little more than a brand like Nike and tastes like whatever will sell locally. There are a million and one beers in Australia which makes it weird why they haven't come over. Maybe because Carlton United Breweries dominates Australian beer, but if that is the case why aren't there more Castlemaine and even Lion-Nathan beers in the US? (more)
Barry Ritholtz argues that the US Reserve Bank is the only one that makes interest rate movements based on core inflation. This is an inflation reading without all the inflationary bits in it and can be traced back to President Carter's time. Inflationary stuff like energy costs and food are removed from it. Ritholtz considers this indefensible. As to the recent increase in interest rates in Australia:
Unlike the spendthrifts here in the US, other Central Bankers around the world understand what the true definition of inflation is. Consider the following: The Reserve Bank of Australia hiked rates to an 11 year high (due to inflation concerns). And, Miller Tabak's Peter Boockvaar points out that, over the past month, Iceland, Romania and Mexico have raised interest. While the RBA move was expected, the Australian $ rallied to a 23 1/2 yr high vs the US$.The US bailing out of speculation by lowering interest rates and making money cheap was known as the Greenspan put, it is now getting known as the Bernanke put too. Ritholtz believes that this policy goes against the Reserve Bank's mandate for price stability. Consequently the US Reserve is directly contributing to inflation and a weak US dollar.
Australia has always had a toe in globalisation simply because of the supposed geopolitical isolation, so Australians would look to foreign shores with awe and a glint of adventure. With the global economy integrating, the back-packing right of passage has become one of seeking economic opportunity.
The Lowy Institute's report on the Australia Diaspora in 2004 noted that it has become increasing white collar and even gold collar. While the diaspora may get public attention from time to time, gone unnoticed has been the increasingly globally integrated nature of the Australian workforce. (more)
Jared Diamond argues that the Australian continent was incapable of progressing humanity to agrarianism or the iron age because it lacked three things; a domesticatable animal, domesticatable plants; and finally, because of its isolation as a landmass there was little to no osmosis of technology between societies and cultures. (more)
The questions for the citizenship test are a waste of time and effort. It is feel good politics that adds to the overhead of an individual being in sync with the asinine bureaucratic machinations of the nation-state. One of the questions is who was the first Prime Minister of Australia. The multiple choice questions do not impart any of the drama that went into that episode of Australian history. (more)
Dick Cheney gets backed into a corner and, when given a choice, makes the logical and diplomatic response. Too bad it undermined the long held position of the Australian government and lent support to the opponent of Cheney's host and ally. That he so cavalierly damages Howard's policy speaks volumes about the value of loyalty to Cheney.
(more)
Since this is my first diary entry, and this is an Australian based blog, I thought I'd better start with the issue of Australian union.
Yesterday the
New Zealand Herald
asked for the opinions of its readers on whether New Zealand should join the Australian federation. I disagreed (with one mistake I didn't notice before publishing!):
(more)
The Standing Committee on Legal and Constitutional Affairs has tabled a report on
harmonisation of legal systems
. The media reporting on it has been
that Australia and New Zealand should form union
. The
conservative fear
is that it will end up in a
PEPC
. The inquiry advocates harmonisation on a case by case basis - but their methods cause centralisation.
(more)
Is social democratic organisation the only way an elected government can maintain their legitimacy against intrusion from non-state movements? (more)
