Mangled Thoughts

That was last week when ALP backbencher, a Mr. Murphy, stood up in Parliament and fulminated. His wife had not received a large enough serve of taxpayer subsidised, $7 a head, chef cooked lunch that. The chef did not know his place.

Murphy railed, the chef should have served his wife triple helpings served on a jumbo size plate aka a horse bucket. This was a terrible deprivation. The ALP were severely damaged, and thus it’s been all downhill since for the Liberal Party.

Yesterday was a shocking day for Liberal Party members and Australians in general. There was a consolation, it was watching these bone idle cowards bleed to death, after solid beatings all day long. The drawback of Parliamentary broadcasts from one House only is, it means missing the mince grinders at work in the other House. First, the least offensive of what transpired.

Opposition Deputy Leader and Shadow Treasurer, Julie Bishop, Plagiarised Wall Street Journal article

An entire article.

It was reported this morning on the radio. She committed this offence in a speech on economics. It was also reported that the Hansard record was altered to eliminate the damning evidence. It is with understandable glee that the ALP announced an inquiry to both the plagiarism and the falsification of the record.

Hansard is altered during the night to correct the record, rendering it as true as possible. This is one thing, but to erase evidence? Erasing evidence does not, to muse, erase the fact of the offence committed.

We have fresh perspective on Julie Bishop. She can no longer be called a dunderhead, which is a pity for it has a pleasing ring to it. It also means that she, as Turnbull’s Deputy and Shadow Treasurer, shows the Liberal Party is in far grimmer shape than hitherto assumed. This is a Party not merely dominated by ineffectual dumbkopfs. This is a Party heading only one way, imminent extinction.

A MPI.
Is this the speech in which the genius decided to demonstrate her powerful empty cranium’s capacity for smashing into sharp edges?

“MATTERS OF PUBLIC IMPORTANCE Economy

“The DEPUTY SPEAKER (Hon. BC Scott)—Mr Speaker has received a letter from the honourable member for Curtin proposing…

“The Government’s failure to provide leadership on the economic and financial challenges facing Australia.

Bishop lead the attack, if throwing buttered bread rolls at Rudd and Swann can be conceivably called a savaging. She commenced her masterful tirade by declaring economic success is pinned to leadahs and their ability to show leaders. Bishop might try explaining this novel notion to the principles of firms going to the wall, being strangled to death, and being starved of capital thanks to Co2 taxation like energy companies.

Then she delivered this terrible cut with the butterknife:

“International Court of Justice over whaling? He was going to lead the world in the charge against whaling. What happened to that global initiative? What happened to the case against Japan—to be prosecuted no doubt by the minister for the environment? It has just sunk without a trace.

“Then, of course, the Prime Minister recently announced
the establishment of a $100 million global clean coal initiative, where Australia is again going to lead the world.”

This sort of tripe occupies most of the speech. Towards the end she arrives at her indictment of Rudd and Swann. Unlike the US Gand the UK Government, the Rudd Cabinet was slow to ban short selling. She really ground them into the dust with this one, which is why Bowen (not Rudd or Swann), nose bleeding - he was reduced to dangerous laughing, stood up for the Cabinet and casually kicked her head in.

“In response to the international financial crisis. It is illuminating to see how botched the government’s response has been… Let me take you through a chronology because then you will appreciate how incompetent this government has been…

“In contrast to the measured approach of the SEC in the United States and the Financial Services Authority in the United Kingdom, the Rudd government dithered. They were like rabbits caught in the spotlight. You see, not a few weeks ago the Minister for Superannuation and Corporate Law stressed that the Rudd government would not ban short selling.”

There was something badly botched. It was the decision in the US, Britain and now the Rudd Cabinet to ban short selling. Short and long selling have some very important functions. One is that they stop wild fluctuations in the markets, which is what the bans are supposed to do but they won’t. The bans will deliver wild fluctations because of the elimination of this very important signal. This is bound up with the second major reason:

Short and long selling show expectations of the future. The question that must be analysed is what is therefore informing these expectations shown in short selling? To illuminate:

Supply of capital funds to energy companies have been cut. The market has written down these firms by over $40billion already. Investors see no future in energy companies and the reason for this is bleeding obvious: Rudd’s capital destroying Co2 taxation plans, bolstered by the Centre for Independent Studies.

What is driving the short selling has to be carefully stepped through, and requires solidly grounded economic reasoning. So how could not merely Bishop, but the Turnbull Shadow Cabinet leap to a shallow conclusion and whine that the Rudd Cabinet has been slow to impose a very damaging ban, which places more creeping control into the Rudd fascist Cabinet? Nothing, that is what is going on, nothing at all.

Nothing inside their craniums. Nothing inside their advisers, and nothing inside the clunker tanks. If this is the speech into which the WSJ article was inserted, it is understandable.

The blobs who dominate the Parliamentary Party, devoid of a clue, had to appear brainy. Committing the Liberal Party to another destructive measure requires an excuse no matter how feeble. Darn, this is a mistake, because it assumes they can recognise it as such. Further, they do have to attempt, and it was a rather bad attempt, pretend that they and their advisers have a bloody clue other than their egos.

Their egos… this they understand. They smile and sodding Australians, being beaten up by each tier of Government, smiles with them. At last! ‘Alternative energy’, the sunbeam economy has arrived. Bishop told us why: She is a leadah, she smiles and, presto, Australia lights up.

Sundry notes

The Cabinet is also pushing a Bill for new permanent controls over short term selling.

It was ASIC that placed the current ban on short selling. ASIC is independent of the Government. This is further illumination of how facile Bishop’s effort was. Which Cabinet in the past was responsible for the legislation giving ASIC this ‘power’ over the market?

Lastly, the final section of the speech is where she inserted the plagiarised text. The style reveals all, which can be summed up: it’s compactness is a sharp contrast to the slops she dished up before the inserted text, and typifies all that she says in the name of the Shadow Cabinet and Liberal Party.

Update: it’s in, confirmed. She plagiarised an item by Paulson of the US Treasury and inserted it exactly where I identified it’s incorporation.