Numerous dead fish now floating down the Darling River and in the Menindee Lakes is more evidence that the Murray-Darling Basin Authority (MDBA) has mismanaged the basin, as the CEC has long documented. So-called “environmental flows” since the MDBA’s notorious “Basin Plan” commenced in 2012 have flushed precious water into swamps and out to sea, and in the process caused riverbank erosion previously never seen.
The farce of bail-in is playing out in Australia right now, with the banks complaining to the regulator that they can no longer find suckers to buy the bail-in bonds that are supposed to be their buffer against a crash.
The government should direct the Auditor-General to conduct an independent audit of Australia’s Big Four banks, in light of the collapsing property bubble to which the major banks are massively exposed.
The successful soft-landing of China’s Chang’e-4 lunar spacecraft on the far side of the Moon promises further space development to benefit all nations, just as NASA’s Apollo Program (1963-72) made technological breakthroughs from which all nations on Earth have reaped the rewards.
Treasury has now joined the central bank and bank regulator in urging the private banks to reopen the floodgates on mortgage lending to avert a housing bubble crash.
The Australian reported on 3 January that Treasurer Josh Frydenberg “has called on the banks to reignite ‘affordable and timely’ lending after new figures revealed national house prices suffered their worst year since the global financial crisis.”
The Big Lie of the Australian financial system is that it remained sound during the global financial crisis in 2008, due to the effective oversight of the Australian Prudential Regulation Authority (APRA).
