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	<title>Comments on: Why Australia Should Take Note of Greece</title>
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	<description>Australian Financial News That Matters in 90 Seconds or Less</description>
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		<title>By: fearless frank</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-3#comment-11774</link>
		<dc:creator>fearless frank</dc:creator>
		<pubDate>Sat, 29 May 2010 06:59:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-11774</guid>
		<description>non of the politicians knows anything about supply and demand and guess what DO NOT  LEND TO PEOPLE WITH  NO ASSETS</description>
		<content:encoded><![CDATA[<p>non of the politicians knows anything about supply and demand and guess what DO NOT  LEND TO PEOPLE WITH  NO ASSETS</p>
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		<title>By: etch</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-3#comment-6353</link>
		<dc:creator>etch</dc:creator>
		<pubDate>Thu, 18 Feb 2010 02:46:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6353</guid>
		<description>nice response pube</description>
		<content:encoded><![CDATA[<p>nice response pube</p>
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		<title>By: pube</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-3#comment-6315</link>
		<dc:creator>pube</dc:creator>
		<pubDate>Wed, 17 Feb 2010 07:21:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6315</guid>
		<description>I just had to respond to your reference to ABS statistics (CPI). The actual truth is possibly far worse than you 

can imagine (or maybe not). I joined the ABS as I majored in IT with a minor in statistics. I thought it was interesting and thought I would like to be involved. little did I know the ugly truth of how &quot;statistics&quot; are generated here. The whole process is fraught with errors and downright dishonesty ... we have directives from the Pollies, saying &quot;oh dont collect figures from unemployed persons if they are doing a course (redployment or &#039;upskilling&#039;), or have part time work&quot; (even though the person may want full time work). so they rule out individuals that dont have the kind of work they need, in order to pay their bills. then we have the data collection process where someone who is supposed to (for instance) collect the price of a chicken in various supermarkets (which contributes to the CPI figure). they go to a supermarket only to find it doesnt have a complete chicken to price... so they &#039;build&#039; one from legs, breasts, wings, etc  and price that. then there is the sample selection and extrapolation formulas which are complete rubbish, then when the actual statistic gets computed, some &#039;senior person&#039; has a look at the statistic and determines whether it is correct! if they FEEL its not right they change it... this is &#039;seasonal corrections&#039;

I know you guys hate us (ex) &#039;pubes&#039; and this only gives you more reason to do so. but the truth of the matter is with power comes corruption, no matter whether its a public or private enterprise. you got example dodgy stats producers in the private sector via rismark!! so no real excuses all round</description>
		<content:encoded><![CDATA[<p>I just had to respond to your reference to ABS statistics (CPI). The actual truth is possibly far worse than you </p>
<p>can imagine (or maybe not). I joined the ABS as I majored in IT with a minor in statistics. I thought it was interesting and thought I would like to be involved. little did I know the ugly truth of how &#8220;statistics&#8221; are generated here. The whole process is fraught with errors and downright dishonesty &#8230; we have directives from the Pollies, saying &#8220;oh dont collect figures from unemployed persons if they are doing a course (redployment or &#8216;upskilling&#8217;), or have part time work&#8221; (even though the person may want full time work). so they rule out individuals that dont have the kind of work they need, in order to pay their bills. then we have the data collection process where someone who is supposed to (for instance) collect the price of a chicken in various supermarkets (which contributes to the CPI figure). they go to a supermarket only to find it doesnt have a complete chicken to price&#8230; so they &#8216;build&#8217; one from legs, breasts, wings, etc  and price that. then there is the sample selection and extrapolation formulas which are complete rubbish, then when the actual statistic gets computed, some &#8216;senior person&#8217; has a look at the statistic and determines whether it is correct! if they FEEL its not right they change it&#8230; this is &#8216;seasonal corrections&#8217;</p>
<p>I know you guys hate us (ex) &#8216;pubes&#8217; and this only gives you more reason to do so. but the truth of the matter is with power comes corruption, no matter whether its a public or private enterprise. you got example dodgy stats producers in the private sector via rismark!! so no real excuses all round</p>
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		<title>By: Sandra</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-3#comment-6270</link>
		<dc:creator>Sandra</dc:creator>
		<pubDate>Tue, 16 Feb 2010 07:59:45 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6270</guid>
		<description>Dave:
Mom and pop are quite English actually. If Americans use it extensively that&#039;s of no consequence.
Given Australia&#039;s &quot;multiculturism&quot; you&#039;d better be prepared for a extensive &quot;mutation&quot; of Her Majesty&#039;s English in the years to come...
so-called &quot;American English&quot; will seem pretty pure by comparison</description>
		<content:encoded><![CDATA[<p>Dave:<br />
Mom and pop are quite English actually. If Americans use it extensively that&#8217;s of no consequence.<br />
Given Australia&#8217;s &#8220;multiculturism&#8221; you&#8217;d better be prepared for a extensive &#8220;mutation&#8221; of Her Majesty&#8217;s English in the years to come&#8230;<br />
so-called &#8220;American English&#8221; will seem pretty pure by comparison</p>
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		<title>By: cb</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-2#comment-6252</link>
		<dc:creator>cb</dc:creator>
		<pubDate>Tue, 16 Feb 2010 03:34:18 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6252</guid>
		<description>lol, Dave, I happily stand corrected. It must have been one of those hidden American influences lurking in my blindspot. As you say, Mums and Dads they are. :-)</description>
		<content:encoded><![CDATA[<p>lol, Dave, I happily stand corrected. It must have been one of those hidden American influences lurking in my blindspot. As you say, Mums and Dads they are. <img src='http://www.moneymorning.com.au/wp-includes/images/smilies/icon_smile.gif' alt=':-)' class='wp-smiley' /> </p>
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		<title>By: Dave Kidd</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-2#comment-6245</link>
		<dc:creator>Dave Kidd</dc:creator>
		<pubDate>Tue, 16 Feb 2010 02:50:51 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6245</guid>
		<description>&quot;Many mom and pop businesses probably struggle to make ends meet&quot;? 
Are you writing from America?  Last time I went to school it was Mum and Dad businesses we had in Australia.</description>
		<content:encoded><![CDATA[<p>&#8220;Many mom and pop businesses probably struggle to make ends meet&#8221;?<br />
Are you writing from America?  Last time I went to school it was Mum and Dad businesses we had in Australia.</p>
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		<title>By: cb</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-2#comment-6242</link>
		<dc:creator>cb</dc:creator>
		<pubDate>Tue, 16 Feb 2010 02:04:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6242</guid>
		<description>Thanks for that, Earl. I am sure that you are right many times over. On the self-employed front, there is no figure on how much underemployment there exists. I would not be surprised if a good chunk of small businesses have had substantial income drops over the past couple of years. Many mom and pop businesses probably struggle to make ends meet, and if things do not improve, they will slowly, one by one, start throwing in the towel. 

I continue to believe that our economy is balanced on a fine knife edge, and that it would not take much to push us over. And current policies, of raising rates and more debt at the same time, all but guarantee that we are going to go down in a mighty crash at some point in the future. I just wish I knew when, but the 12 months following the election will probably be a very high risk period.</description>
		<content:encoded><![CDATA[<p>Thanks for that, Earl. I am sure that you are right many times over. On the self-employed front, there is no figure on how much underemployment there exists. I would not be surprised if a good chunk of small businesses have had substantial income drops over the past couple of years. Many mom and pop businesses probably struggle to make ends meet, and if things do not improve, they will slowly, one by one, start throwing in the towel. </p>
<p>I continue to believe that our economy is balanced on a fine knife edge, and that it would not take much to push us over. And current policies, of raising rates and more debt at the same time, all but guarantee that we are going to go down in a mighty crash at some point in the future. I just wish I knew when, but the 12 months following the election will probably be a very high risk period.</p>
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		<title>By: Earl J Wagadoor</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-2#comment-6238</link>
		<dc:creator>Earl J Wagadoor</dc:creator>
		<pubDate>Tue, 16 Feb 2010 01:11:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6238</guid>
		<description>Getting back to the job figures, we all know they are rubbishy sample survey projections. What makes me wonder is why they dont use the REAL figure that is out there available and which (I believe) would be 100% accurate. 

Superannuation is compulsory in this country right? When I got made redundant (March09 - my employer bank could only manage a $65m profit for the 1/2year so 10% had to go) my letter of separation advised me that they, my employer, had written to my super fund advising them not to expect any more monies. Since then (in December 09) I have received a letter from my super fund saying they hadnt received a payment and advising me they were going to write to my empoyer...... the lights obviously arent on at my fund HQ.
Sooooooooo the painfully obvious question why isnt the government just getting figures from all the super funds on the number of letters advising of no more payments and the number of advices of new accounts or additions to existing accounts (for those getting employed). Surely that would be more accurate then the present lottery(even if the self funded &quot;contributors&quot; have to be accounted for with separate arrangements). What am I missing. Or (cynically) true figures arent what are wanted. One other point, in October09 I managed to get casual work due to the Christmas rush as a nightfill at BigW along with a number of others who were actually getting the position as secondary income. How are they (secondary jobbers) counted in the stats as far as improved employment figures go? Since Christmas I have had one 5hr shift and am not registered as unemployed or claiming any benefits. Luckily the wife works but we are about to hit the wall due to debt and increasing bills. So we have managed to survive for 12months and I am sure there are a lot of hidden unemployed out there like me who will only now start to be impacted and therefore start to affect the economy eg mortgage, credit card, health insurance defaulters etc etc. But dont worry the employment figures tell a different story.
Cheers</description>
		<content:encoded><![CDATA[<p>Getting back to the job figures, we all know they are rubbishy sample survey projections. What makes me wonder is why they dont use the REAL figure that is out there available and which (I believe) would be 100% accurate. </p>
<p>Superannuation is compulsory in this country right? When I got made redundant (March09 &#8211; my employer bank could only manage a $65m profit for the 1/2year so 10% had to go) my letter of separation advised me that they, my employer, had written to my super fund advising them not to expect any more monies. Since then (in December 09) I have received a letter from my super fund saying they hadnt received a payment and advising me they were going to write to my empoyer&#8230;&#8230; the lights obviously arent on at my fund HQ.<br />
Sooooooooo the painfully obvious question why isnt the government just getting figures from all the super funds on the number of letters advising of no more payments and the number of advices of new accounts or additions to existing accounts (for those getting employed). Surely that would be more accurate then the present lottery(even if the self funded &#8220;contributors&#8221; have to be accounted for with separate arrangements). What am I missing. Or (cynically) true figures arent what are wanted. One other point, in October09 I managed to get casual work due to the Christmas rush as a nightfill at BigW along with a number of others who were actually getting the position as secondary income. How are they (secondary jobbers) counted in the stats as far as improved employment figures go? Since Christmas I have had one 5hr shift and am not registered as unemployed or claiming any benefits. Luckily the wife works but we are about to hit the wall due to debt and increasing bills. So we have managed to survive for 12months and I am sure there are a lot of hidden unemployed out there like me who will only now start to be impacted and therefore start to affect the economy eg mortgage, credit card, health insurance defaulters etc etc. But dont worry the employment figures tell a different story.<br />
Cheers</p>
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		<title>By: cb</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-2#comment-6237</link>
		<dc:creator>cb</dc:creator>
		<pubDate>Tue, 16 Feb 2010 01:03:06 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6237</guid>
		<description>etch - good points there. Greece is a victim of the robber barrons, who now want their pound of flesh, and not just today, but into perpetuity, taking a big chunk of the national income year in, year out, and with no end to it. What can you say? It is a tragedy. And, I, for one, agree that Greece should start taking a stand in the manner of Iceland, and tell the robber barrons to either do the right thing, or p!ss off and feel free to write down their bad debts because they had just gone sour.</description>
		<content:encoded><![CDATA[<p>etch &#8211; good points there. Greece is a victim of the robber barrons, who now want their pound of flesh, and not just today, but into perpetuity, taking a big chunk of the national income year in, year out, and with no end to it. What can you say? It is a tragedy. And, I, for one, agree that Greece should start taking a stand in the manner of Iceland, and tell the robber barrons to either do the right thing, or p!ss off and feel free to write down their bad debts because they had just gone sour.</p>
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		<title>By: Sandra</title>
		<link>http://www.moneymorning.com.au/20100215/why-australia-should-take-note-of-greece.html/comment-page-2#comment-6231</link>
		<dc:creator>Sandra</dc:creator>
		<pubDate>Tue, 16 Feb 2010 00:22:39 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com.au/?p=2815#comment-6231</guid>
		<description>wow Etch! thanks for this most interesting write...

will make me appreciate your shorter interjections even more now ;p</description>
		<content:encoded><![CDATA[<p>wow Etch! thanks for this most interesting write&#8230;</p>
<p>will make me appreciate your shorter interjections even more now ;p</p>
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