You may have caught this latest migration sob story from an Indian family in Perth wanting the public to cough up for their son’s down syndrome with Immigration Minister Andrew Giles granting them PR:
“A Perth family facing deportation because their son was born with Down syndrome has been granted permanent residency after a personal intervention from Immigration Minister Andrew Giles.
The decision, which comes just over a week before the family had been ordered to leave Australia, means Krishna Aneesh and Aneesh Kollikkara, along with their two children, will remain in Australia for the long-term.
The family, from India, was told last month they had just 35 days to leave the country because their 10-year-old Aaryan’s condition meant he was deemed a burden on the taxpayer.
The parents have been pleading with Mr Giles to personally intervene, their last chance to remain in the country after they exhausted all legal options.”
PIC 4005 and PIC 4007 were put in the Migration Act to put a stop to this very kind of thing and protect what’s left of Australia’s health infrastructure. It’s essentially what’s known as a one-fail, all-fail criteria and rightfully so.
Anyways, the Bileloa Family thing was the start (it realistically started much further back than that but that was the latest example) of the flood gates opening. I’d expect the Federal Court to be even more crush loaded with frivolous appeals and I know for a fact they are already three years behind. Much of their work is spurious immigration appeals at massive cost to the middle-class tax payer, but no-one cares about them.
Well, I spoke too soon as literally the day after there was this:
“Tom Owen was overwhelmed by this week’s news that a Perth family with a child who has Down syndrome was granted a permanent visa to stay in Australia.
The 39-year-old carpenter, who also lives in Perth, has worked in Australia on and off for nine years and is currently facing his own battle to stay in the country after his employer-sponsored visa application was rejected because his six-year-old son Jakob has Down syndrome.
“There’s hope … it’s a glimpse of light in this dark tunnel,” he said.
Mr Owen is from the UK and his wife, Rosa Schulze-Osthoff, is from Germany. Despite Mr Owen being considered a skilled worker, the government is able to reject visas if an applicant has a health issue or disability deemed too costly to Australian taxpayers.”
Unlikely to get it as he’s white.
I agree with what other commenters have said that at the current trajectory, there won’t be a pension or much resembling public services at this rate in a few years. Hospitals and Aged Care are already broken, adding hundreds of thousands of frail and elderly arrivals onto Medicare is going to destroy it.
Andrew Giles is the worst immigration minister of all-time (or the best if you’re trying to get into the country), just ten months into the job. But I mean, just take one look at him and you’ll understand why they always put an emasculated male or a woman as the immigration minister – Dutton probably the only exception in recent memory but he may as well put a skirt on given his recent performance.
This is all being deliberately done, I can come to no other conclusion.
On the bright side, at least we won’t have to ever put up with an ALP election campaign based on Medicare ever again as it won’t exist by the next election at this rate.
Guest article from barrister Mark who has served a sentence of over 20 years in the legal world including migration and criminal law
Bring it on. It’s only uneducated legacy Australia scum who will suffer.
this place is being taken over by pro open borders nuts
some of the comments at this place now are like ruder more in your face versions of the boomer shit over at SMH or the age
there’s a culture of entitlement amongst the legacy units
much like aborigines demonstrate
muh grandparents worked hard built this country blah blah
or even worse muh grandfather fought in WW2 (but at the same time they like Hitler, and WW2 was fought at the whim of Jewish bankers)
and yet they themselves as individuals have never done anything useful and generally sponged off the country their entire lives
again the aboriginal comparison is apt: if everyone was on aboriginal welfare system and got all the free passes the aboriginals do to do whatever they like without consequence , then the whole county would be broke and broken
You can see that the “traditional owners” grift is bullshit
yet you can’t see the same thing in this instance because you are blinded by self interest
if we crushload the country so that all that welfare shit is unviable , then everyone will have to fend for themselves
Basically, it’s acceleration theory
Things have to get worse before they can get better
not sure if it will work but the signs are there that it is a bit , as the welfare state has been eroded under the strain no bulk billing etc etc
but yes taking in retards and disableds on its face makes absolutely no sense
Basically, the problem is not really immigration as such
it’s the existing framework and policy of the country that the immigrants are being brought into
immigration could be good if the settings were right
but making the settings right does threaten the cushy lifestyle of the lazy legacy units and aboriginals, as well as the parasites who run the grifting elements
singapore has an immigration rate similar to Australia’s yet has a much more rational and sustainable welfare, pension, housing and education model
Despite being the size of an Australian suburb and absolutely zero natural resources
who are you and how did you hijack Coming’s login details?
i’m pro aboriginal mindset i think white people should start acting like abos and start demanding a homeland for themselves and free shit bc theyre white
whites should have a voice to parliament, every bill / policy change relating to white people (such as increasing immigration levels of non white people) should be scrutinised by a panel of white ppl to determine its demographic impact and instantly rejected if it could reduce white ppl as a % of the population
abos should say sorry to us also
Basically that’s what you want hey – the abo treatment
You’re not yet pathetic enough to get that, but maybe in a few generations
why wouldnt u want that? do u want whites to survive or become some shitskin hapa race like jews want
whites will become a hated minority not the other way around
only way races survive is by fighting back
Good times breed weak men, weak men cause hard times etc etc
the white race used to be glorious but now it’s become degenerate because life was too easy
the welfare state did this
Maybe the better quality examples survive and make a comeback in a few hundred years but I suspect given globalisation and immigration
plus the incel yellow-fever problem , and the self loathing white woman trend
that we are all going to be miscegenated brownish yellow within a few generations
yes, the degeneration and decadence is obviously at play here behind the breakdown and decline from the glory days
hard to guess at exactly who will stage a comeback. Might be those who have a strong enough connection to some core culture & non-consumerist non-materialist system of values.
or might just be a ragtag collection of folks who fight their way to the top.
or those selected by the 0.01% of wealth holders
Stagmal himself is a great example of this degeneracy
but unironically bemoans the decline of his race
incredible lack of self awareness and victim mentality tbh
irrelevent bc mass immigratioon will destroy us all anyway
im a passive resistor
Mass immigration doesnt seem to be worrying the jewish people does it?
theres no solution if you dont reject universalistic beliefs
abo mindset is based on particularism and special treatment demands, if anything abos are less helpless than whites
we’re about to hold a referendum on constintunally enshrined special treatment, how is that helplessness lmao
thats fucking based
the only thing is that as white ppl we have to stop it then demand our own special treatment
or we lose
abos didn’t organise that for themselves
white people did it for them
they are completely helpless, by breeding or environment
some did but this is true too
it shows how we need to kill many whites as well
its every white man for himself, but you have given up on competing like the aboriginals
instead just sit there doing nothing waiting for somebody to feel sorry for you
yes you’ll probably fail, but at least have to try
Of course it doesn’t – it is their weapon.
Their entire culture is built around surviving and taking control of other peoples society.
Their moral relativity ensures they will take care of their own, because that is what their culture teaches them. Ours has said defer to your society and it will look after you, ergo the ‘social contract’… unless it is taken over by cultural parasites.
the light onto nations only ever seems to achieve the extinguishment of the lights of all other nations
not everything is the jew’s fault
maybe he’s just lazy
doesn’t even have a family or a career
this frog dropping some harsh truths
life is a lot worse elsewhere
i agree saving a lot of money is pretty easy but its p[robably easy everywhere if you dont just burn your money like an idiot and dont live in sydney etc
really doubt its going to be much different in france. minimum wage in real terms is higher there than it is here too i believe
i have over 500k ffs and i do fuck all but thats bc im not a moron and knows how to use $$$$ to make more
very few people are capaable of achieving that though including wagies
it still doesnt make house prices etc fair though lol
if milk was $50 a jug i could afford that too but i wouldnt want to pay it
why would houses be any diff
tbh why don’t you leverage that and set up bunk beds in a rental property for indian migrants
instead of complaining about the jews
idk could be a good bet maybe it isnt
thats the macro gambit we’ve been talking about for the last 10 years isnt it
would have been the right thing to do in 2010 but i didnt have anything at that time
right but you haven’t had the balls to place a bet in the casino
walking around with chips in your pocket, scowling at the winners
anyway without children its irrelevant you’re going to be an evolutionary dead end
lmfao mate you are fuckin funny
i aint scowling at the wi nners theyre right to have done what they did i just dont think they should be allowed to do so
and they aint in my pocket just not in some over leveraged form like housing
which may or may not be a mistake
i enormously doubt housing is going to follow the same trajectory over the next 10 years it did over the last 15
just nah its over
that doesnt mean a crash either though
you were wrong about bing/T
i still think its him and hes making a joke
“I wish him well. Good productive sort.
I hope he creates lots of jobs.”
why would he describe T like that
never heard T talk like that think you are smoking crack
na pay closer attention still pretty sure theyre the same person
T used to constantly start long, rambling asperger threads about qanon conspiracy theories and paedos and stuff, like multiple paragraphs that were almost as incomprehensible as Grupenfuhrer mark
Bing just posts shitty boomers memes from facebook
they are so different, its an incredible espionage job if its the same person
moaning about immigration and banking bailouts but not willing to use leverage
you know what’s going to happen
you literally know
its not even like you are an MB retard who thinks they’re going to let it all crash
it wont crash but is it going up again substantially? my bet is a plateau
what have you got it invested in
or is it in cash
for the last year a lot of it in oil
royal dutch shell and some other stuff
has been pretty good but ill probably switch it out
you’re literally a rentier parasite but have the hide to complain about abos and immigrants
i want white people to be like abos and minorities and start demanding shit too
imagine how fucked youre going to be when we start having race riots again
why do you care what happens to people who don’t care what happens to you?
bc its funny and controversial
in reality a lot of white people are scum and deserve to get fucked
but the saving grace of all whites is they look good and seeing them go from the world would be bad
im pro preserving human diversity everywhere, in asia africa etc everywhere
all people all becoming one big brown coloured race would be boring
so you’re finally onboard with me and soyboy
na u want to destroy, i want to preserve
the sheila further down the article gets it…. useless cunts replying to the frog citing rents,tolls,fuel costs, wahwahwah, don’t.
can’t fix dumb
Back on the topic of the USA’s bank shenanigans
Rumours the Fed will open up the discount window to smaller banks
Calls for uninsured deposits to be saved
Peter Thiel’s role in this has a weird vibe. Idk, maybe he’s just a sociopath
SIVB’s CEO, CFO, and others sold shares during the past month. What happens there?
More broadly, will banks have to start competing for retail deposits? They’re currently paying about 50bps. Zero incentive for plebs to save at present, which obviously isn’t helping on the inflation fighting front.
It is worth their while saving depositors at the first bank that fails. It may not be worth their while saving depositors at the last bank that fails, especially in Aus where the last ones to fail will be the majors.
Looks like it’s over already.
Depositors safe. Securities can be swapped at par.
The only thing Whaaaalen didn’t get is 50bps of cuts.
this is pretty close to what I thought should happen. Bondholders and equity are toast, which is good.
this bit I don’t like. It’s a bit reassuring that the size of this swap facility seems to be quite small, and so it’s not the case that Fed is taking away interest rate risk. (Unless they decide to grow it, which they might)
also, it seems to me that very few banks are dumb enough to carry anywhere near as much interest rate risk as that Silicon Valley mob in the first place. This also suggests that this is not a general lifeline, but a targeted thing intended to prevent the dumbest operators out there from blowing up the whole system.
It seems as much a psy-op as a bailout.
If it works, no one should need to touch that swap facility immediately because backing ALL deposits should stop the panic withdrawals. But there’s the slower moving problem where small banks that aren’t flush with cash are seeing deposits move to money market funds and they probably can’t compete for these deposits without crushing their NIM. That’s a problem for another day though.
Yep, there are probably quite a few small banks that haven’t hedged enough but most of them were in the business of making loans rather than operating as some weird hybrid/bank bond fund.
yes, the bailout doesn’t really cost anything, if the psyop succeeds.
and besides, unlike the older cash-for-junk facilities, I take it that this one will be run at an interest cost of the present 4+% (cf ~0% previous funds rate) – so in that sense it really does begin to look more like a liquidity facility, rather than just free money.
as long as the nim compression happens slowly enough, that shouldn’t be too bad.
afterall, banks need to work as a business and find ways to earn their keep, rather than just being gifted margins and tickets to clip, right?
the ones that haven’t put themselves in a hole already by stupid balance sheet setup like SV should be able to compete with all others.
the ones that have made stupid choices should have plenty of time to put their hand up for more orderly reorganisation/receivership/etc.
so it’s possible that this intervention will have been done with enough finesse to help return risk pricing throughout the system, rather than eliminate it. In theory, at least. We’ll see what practice is.
Yeah, that’s what the Fed is hoping will happen. In practice the market tends toward FUD.
Still, kind of funny that we haven’t even really seen restrictive monetary policy and things are already breaking.
Powell must be wishing he pulled a Brainard right now. She bailed at the perfect time.
So it turns out a bank doesn’t even have to be distressed to use this BTFP thing, they just need to have owned the securities prior to March 12. And it will likely be levered 30x like previous Fed monstrosities.
Time to take the blackpill. Nothing matters.
so I don’t fully understand the particular details, but it appears that the Fed has launched a bailout
not just of SVB, but a backstop of the entire banking system and deposits
Now they are creating reserves to pay IOR, and also essentially doing QE by swapping/buying MBS/bonds at face value
Meanwhile margins and profits are rising
and unemployment is at 70 year lows
There is now absolutely no possibility of interest rate rises being deflationary
Financial crisis was the only possible route, but the Fed doesn’t have the stomach for it?
what is the remaining mechanism by which interest rate rises will now reduce inflation?
I can’t be bothered reading the detail either, but my take is that it’s a small bailout, and they’re still trying to continue the course signalled earlier.
Their plan is definitely to break something but they didn’t think that something like Silicone Bank would break first. They couldn’t imagine that anyone could be as dumb as the Silicone Bank people.
so they patched up the SB stupidity and are hoping to be able to keep going in order to break something else. What they’re aiming for is hard to know for sure.
but in a general sense, I think it’s unemployment.
they’ve announced a Bank Term Funding Program (BTFP – Buy the fucking pivot)
$25bn (so far) which values securities at par (ie not market value, ie a bailout)
The financing will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution’s need to quickly sell those securities in times of stress.
Coming, since you’re looking into it, can you check whether the $25b is the total spend on par value of the securities, or if that’s the value of the discount that is going to get ignored?
It’s obviously going to be way more than $25bn in any case
and it’s obviously going to be for more than a year (or replaced by something bigger)
also the IOR issue is becoming a “problem “
this is definitely a possibility, yes.
but in current garb, this thing is vey modest. May even add to the cost of credit for borrowers as little banks know that only their liquidity will be be bailed, not their profitability.
which bit is the problem?
The bit where it increases the money supply and increases velocity
Not even the person he linked to believes that higher interest rates are the cause of inflation. Just that policy is still easy.
“not calling for 7%, 8% or 9% but if the Fed was truthful and if folks had any common sense easy to see the Fed should have been at least 8% by end of 2022. this is all pandering and posturing. what I think is Fed should do nothing and try get 2/3 of the balance sheet down… this inflation is all Trump and Biden covid spend. there is not any pressure on banks from Fed Funds, Fed Funds are still in ease mode if anything. there is massive fiscal ease still in the system and has about another year to go to be used up. inflation is a tax on this”
not really interested in his opinion, more the graph
but yes, what they should do is reduce their balance sheet
but paying IOR is increasing their balance sheet
It sounds similar to what happened in Europe few months ago. A liquidity injection so that banks aren’t forced to sell bonds at a loss. They can allow the bonds to mature and make profit. Depositors free to take their money elsewhere in the meantime.
I guess under that xenophobia which (from a wrong perspective) points towards societally destructive recolonisation of ezfka, it is difficult to see a hypocrisy which engulfs all the ezfka units. This country lives on credit card and the only leftover product it has to sell to outside world is PR. Without it, your portfolio of savvy investment properties is worth two naughts less.
Everyone knows subconsciously that without new idiots the old learned elders end up idiots too and favours it to any financial pain even if that pain means better future for all (because “aftter me – who cares”)
Without an unstoppable recession no less than 1930’s US style, this will not change. It needs a great reset, literally not the wef type.
I favour ramping up immigration to 1mil units per year. This would accelerate the race to the bottom and bring us to the end of it faster. There is no other way out of it.
A recession just means a repeat of COVID and more debt, $10k out of super, dole doubled. The alternative is probably rampant South Africa style violent crime in the suburbs as abos and legacy units who hang out for pay day suffer nicotine, ice, alcohol, greasy fast food withdrawals and get nasty.
ok, depression perhapsbis the better word
I’m absolutely loving this series
can’t be satire, must just be friends of the kind of gen z dipshits that work at smh
a DJ from marrickville with a media degree
Streaming: $37.99. I pay for Spotify, Stan and Binge, and my partner pays for Netflix, Amazon Prime and his own Spotify (remind me to sort out a family account for us). We love consuming media!
8:00am — Bit of a sleep-in this morning before I head off to the rally for Invasion Day. I have a protein bar for a quick breakfast.
3:00pm — My only other Invasion Day plans are soaking up my aircon, watching Netflix, reflecting and keeping to myself.
3:30pm — I receive a surprise $100 refund from switching health insurance policies last week. I donate it to Pay The Rent, a Naarm-based grassroots organisation that distributes mutual aid to various First Nations organisations and communities. My friend and I also donate $200 from our DJing business account (split two ways) to Black Rainbow, an organisation that works for positive health and wellbeing outcomes for Aboriginal and Torres Strait Islander LGBQTIA+SB (Lesbian, Gay, Bisexual, Transgender, Intersex, Queer, Asexual, Sistergirl and Brotherboy) people. $200