Wednesday, April 13, 2016

More Bull From Turnbull

Sub title:-  Turnbull’s Train Wreck

The Liberal Party under *Maclom Turnbull is hurtling towards a massive defeat in the September general election.   

Yes, the election which Tony Abbott would have won.  After promising decisive leadership and being schmoozed by the same media which crucified Abbot with its barrage of lies and innuendo, Turnbull has dithered and waffled for six months and has reversed many of Abbot’s much needed cuts to federal spending.  His poll ratings have plummeted and Shorten's have soared.

Today we see tens of thousands of jobs lost as steel maker and iron ore miner Arrium goes into ‘administration,’ with break up and sale most likely; Clive Palmer’s Queensland Nickel also is broke and facing closure.

So what does Turnbull do?

He announces a plan for a fast train service between Brisbane and Melbourne at a cost of billions which somehow nobody will have to pay.  Truly the stuff of  Alice in Wonderland.   

Image result for fast train

For twice the price of an airline ticket, you’ll be able to travel from Melbourne to Brisbane in twice the time.

*'Maclom' was a typo printed in The Age newspaper.


Noel said...

There is a little bit of irony in Whaylla's plight.

When BHP owned it they were quick to also pick up NZ Steel when it looked as though Minmetals of China were in the potential buyer mix. Later BHP shunted off all their Steel making facilities in to a separate division eventually selling it. That went through a number of name changes to the latest, Arrium.

Now the pundits are predicting that it might be Chinese investors that will be needed to bail it out.

It's said that steel making has always been a cyclic industry.

Adolf Fiinkensein said...

Thank you for that little bit of history Noel.

I doubt the Whyalla steel mill will be bailed out. It is old and uneconomic and has suffered from a sweetheart deal reached between unions and management in which so-called workers being paid in some cases over twice the award rate.

The real irony here is the fact that the big four banks (more fool them) lent Arrium ONE BILLION DOLLARS UNSECURED. Guess what happened. None of the four banks closely monitored the company's performance because each of them thought the other three were doing it.

Now THAT'S irony for you.

Anonymous said...

Yes those pesky Aussie liberals are everywhere. The collapse of Tata steel in the UK was nothing to do with Chinese dumping and a downturn in Chinese, and world, manufacturing. It was that bloody Turnbull hacking again.

It's about time Australia caught up with rest of the world in it's infrastructure and manufacturing capacity and stopped relying on flogging stuff out of the ground. Wonder how much cheap steel the railway will use...sounds good to me.

Lend me your brain Adolph...I'm building an idiot.

Lord Egbut Nobacon.

Adolf Fiinkensein said...

Why reinvent the wheel, Egbut. You already have an idiot. In the mirror.

Anonymous said...

Flogging stuff out of the ground.

That has a connection to Arriums plight. In 2011 it ventured into iron ore mining to supply Whyalla with the majority for export. Then the ore prices dropped to the uneconomic to mine price. Add Whyallas aging steel making process to that alomg with bad management decisions and the inflated wages reduces to a small part of the failure.

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