[LINK] [SPAM?] Re: The Community of - was A good time to short
tomk at unwired.com.au
Tue May 5 21:53:29 EST 2009
> -----Original Message-----
> From: David Boxall [mailto:david.boxall at hunterlink.net.au]
> Sent: Tuesday, 5 May 2009 10:40 AM
> To: Tom Koltai
> Cc: 'Richard Archer'; 'Link'
> Subject: Re: [LINK] [SPAM?] Re: The Community of - was A good
> time to short
> The wisdom of the "Buy Australian" mentality is questionable. Let's
> start thinking like a world, instead of a bunch of selfish nations.
I'm sorry - I couldn't let this one pass.
Thinking like "A World" is not a realistic comment.
Do you think of the plight of Somalians or Burundians every time you
have a slice of Pavlova ?
No I didn't think so.
The US is in its current predicament because of three things.
1. Ignorance of the Power of the EURO.
2. Refusal to admit that China is holding more US dollars in notes
(CDR's - inc swaps) and currency than the USA has ever printed.
3. The US belief that by creating more junk bond paper - they could
create a giant international ponzy scheme that would hide their deficit
Trade balances is first year economics. [In fact I think it was covered
in social stuidies when I was about ten.]
If a country imports more than it exports - it goes broke.
If a country exports all of its raw materials without adding value to
them through manufacturing add-on - it gorss broke.
There is no "Global Economy" theory that works. If you know of one -
please cite its source, author and relevent conclusion.
Karl Marx tried and failed.
We, in the "Lucky Country" live in a Capitalist society. We whinge, we
moan, we gripe - but we are grateful to the umbrella of protection
afforded us by a government and economic system based on Adam Smiths
original work, defining capitalism - The Theory of the Wealth of
Those that have - take advantage of (mmmm nice pavlova)
Those that don't - die.
Wake up please - nice nice doesn't work.
Doees this mean that we should immediatey shutdown Ausaid and Australias
aid relief to third world countries and disaster relief ? No.
But that is a charitable operation and not the basis for our day to day
survival with mortgage, job retention, rising prices, - in other words
David have you been down to wooloomoolloo and counted the street people
Chris Gilbey wrote about "Free market Forces" yesterday - and in
conclusion he quoted Adam Smith.
I should like to also conclude with Adams remarks.
According to the system of natural liberty, the sovereign has only three
duties to attend to; three duties of great importance, indeed, but plain
and intelligible to common understandings:
First, the duty of protecting the society from the violence and invasion
of other independent societies; secondly, the duty of protecting, as far
as possible, every member of the society from the injustice or
oppression of every other member of it, or the duty of establishing an
exact administration of justice; and, thirdly, the duty of erecting and
maintaining certain public works, and certain public institutions, which
it can never be for the interest of any individual, or small number of
individuals to erect and maintain; because the profit could never repay
the expense to any individual, or small number of individuals, though it
may frequently do much more than repay it to a great society.
Curiosly - David, Smith appears to at first glance to agree with you -
however he was in fact referring to his home country and its people -
not the world.
For the World economies to work, individual countries have to survive
first - we, in Australia are nanaging it a lot better than most -
currently - as long as we don't sell off our major assets - like Rio.
So please broaden your understanding of the fundamentals of the society
you live in by choice [I suggest reading Smith], eat Pavlova guilt free,
but buy australian - or one day the Pavlova will arrive in a box with a
made in China stamp on it.
The Theory of Wealth Of Nations by Adam Smith is available from
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