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post Posted: Yesterday, 10:53 PM
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In Reply To: Alethia's post @ Yesterday, 08:33 PM

Add the fact that for at least the last 20 years, the standard of primary and teriary education has gone downhill.
So it's no wonder that the Uni graduates aren't up to scratch either. "Garbage in, Garbage out" is not just a Law in Computing.

By all tests and measures, literacy and numeracy of your average school leaver is deplorable because the social engineers that set the curriculum were more interested in protecting the poor kids' fragile egos and make them "feel good", than obtain the skills that help them obtain and hold down a job. That may even suit the Powers that Be: The dumber the general population, the more easily can they be fed trends, persuaded to buy the latest must-have gadgets, and put instant gratification on plastic without checking the costs. Likewise, a dumbed-down electorate will swallow much more easily lies and propaganda, be it "Children over board", "Weapons of Mass Destruction", or "We can save the world by taxing carbon".

As regards "everybody's right" to a free university degree, it certainly takes an above-average IQ to make it through Uni. Then look at any old Bell curve and think about this: Half the population has below-average intelligence. That means, if you plan a future in which a University Degree is necessary for employment, you toss half the population on the scrap heap of unemployability.

Unpopular truths are however most unlikely to be recognised, let alone taken as the basis for long-term National Planning.

I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
post Posted: Yesterday, 08:33 PM
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In Reply To: jwlkr's post @ Yesterday, 05:49 PM

Unfortunately the quality of our graduates is in general - low.
Universities are more concerned with bums on seats than the quality of their graduates.

The caterpillar does all the work but the butterfly gets all the publicity.
post Posted: Yesterday, 05:49 PM
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The state of the job market...

Financial Review

Call me an optimist but I don't think it looks that bad. In particular, the numbers for science and engineering fields look like they're on the amends. I think the findings goes to show that baseline tertiary education, ie. the bachelors degree, is becoming the new high school certificate as our industries becomes more knowledge-oriented. I think that's a good thing. I don't mind at all the fact that many universities are over-enrolling certain courses (medicine exempt).

Said 'Thanks' for this post: wolverine  
post Posted: Aug 16 2014, 01:35 PM
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Mike Fitzpatrick of Triple M has a word to say about KISS band member Gene Simmons.
"The Triple M network can't and won't be playing or supporting this d***head's music. I put the challenge out to other stations across Australia and North America to also drop any of this nudnik's songs until such time as he reconsiders his thoughtless and insensitive position."

Of course using " dickhead" and " nudnik " is being " thoughtful " and " sensitive " .


post Posted: Aug 6 2014, 10:53 AM
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Honestly, do these politicians ever actually think about their legislation ....... past a feel good and news headline ??

Jail time doubled for parents of children left alone in cars or homes

Read more: http://www.theage.com.au/victoria/jail-tim...l#ixzz39ZI1JDMJ

So, if you leave your kids alone, you'll be jailed.

Where does that leave the kids ?????????

I do know what they're trying to do, but fair dinkum. Apparently in the legislation, you're not even supposed to leave the kids in the car when you pay for petrol. Much safer to try to herd them across busy petrol station driveways, then try to put them back in their safety car seats. Yeah right.

So, to be safe you leave the kids at home when you need to buy petrol. But wait, you can't leave them at home either ................

There must be a better solution, surely.


post Posted: Jul 12 2014, 10:03 AM
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In Reply To: triage's post @ Jul 11 2014, 02:31 PM

I haven't seen the full context of the comments triage, but I rather imagine he was referring not to national insolvency, but to a budgetary situation in which a government would not be able to carry on meeting the demands on it for funding health, education and welfare at the levels presently enjoyed.

"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith

post Posted: Jul 11 2014, 07:59 PM
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In Reply To: triage's post @ Jul 11 2014, 02:31 PM

I will disagree with your logic triage - ask the people of these countries what happens when you do not manage your finances and then try to print your way out of it.

Most severe hyperinflations in world history
Highest monthly inflation rates in history[91]CountryCurrency nameMonth with highest inflation rateHighest monthly inflation rateEquivalent daily inflation rateTime required for prices to doubleHungaryHungarian pengőJuly 19464.19 1016 %207.19%15 hoursZimbabweZimbabwe dollarNovember 20087.96 1010 %98.01%24.7 hoursYugoslaviaYugoslav dinarJanuary 19943.13 108 %64.63%1.4 daysRepublika SrpskaRepublika Srpska dinarJanuary 19942.97 108 %64.3%1.4 daysGermany (Weimar Republic)German PapiermarkOctober 192329,500%20.87%3.7 daysGreeceGreek drachmaOctober 194413,800%17.84%4.3 days

post Posted: Jul 11 2014, 02:31 PM
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Well it's official: Barnaby Joyce is a moron.

"If we don't turn our nation around financially, we are going to go broke - whether its three years, five years or ten years," [Mr Joyce] said.


It's one thing to set out to spook the horses when you are in opposition but why would a senior government minister sprout such drivel, on several levels (Paul Keating did similar with his "banana republic" comment to brilliant effect but he never ever stooped so low as suggest that the nation would "go broke"). As long as Australia is a sovereign state and has its own currency and printing presses (or the electronic equivalent), it is an absolute impossibility for it to go broke. This has nothing to do with politics or even economics, just basic logic. The simple fact is that we as a nation can create as many AUD's as is needed to pay whatever bills we decide to pay.

The worst thing that could happen is that Australia would simply refuse to pay back money lent to it by foreigners, and given that we have never done that in our history the chances are remote that we would get into that predicament any time soon (whether that be 3, 5 or 10 years).

From memory Mr Joyce is a qualified accountant but if he cannot differentiate between the reality of households and businesses and that of sovereign states then he is an unqualified moron (imo).

"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

"It is the mark of an educated mind to be able to entertain a thought without accepting it." Aristotle
post Posted: Jul 11 2014, 11:23 AM
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This company is maybe what Melua is after



post Posted: Jul 3 2014, 09:28 PM
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A man of infinite gall feasted for free 35 times in a year at Lufthansa's Munich airport lounge without actually taking a flight, exploiting the change rules on a business-class ticket he had bought.

A German court ordered the man to repay Lufthansa 1,980 ($2,710), or about 55 for each time he visited the lounge. The man had bought a single ticket for about 744 and changed the date of travel repeatedly, exploiting the flexibility offered by that fare class. The airline canceled the ticket after more than a year and refunded the money. "Lufthansa pursued a prosecution only after the man bought the second ticket with the intention of resuming his foraging raids," Bloomberg News reporter Richard Weiss wrote on Wednesday.

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time."
- Dr John Hussman

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