@JusticeTyrwhit Those credits for own-use consumption are doubtful unless th cost is elsewhere expensed.
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Peter Shep
9.7K posts
Peter Shep
@Sheps71
Cyclist, runner, insolvency and economics nerd, accountant, lawyer, cantankerous classical liberal and political dilettante. 🇦🇺🚵🏼🎼🐼🐶And fond of doggos.
Sydney, New South Wales Katılım Haziran 2009
538 Takip Edilen260 Takipçiler
I had no *idea* we were spending so much on servants! #medievaltwitter
Order of the Coif@JusticeTyrwhit
Describes diff. in 'worship' derived keeping a fine house, well-dressed family and my weight as a 'county man' sitting on the bench as a belted knight How much spent on livery, do we have enough horses, enough servants of diff. types (pages, ladies in waiting) #medievaltwitter
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@nerskine95 @themetresgained Labor: the party of State Banks, industrial racketeering and municipal favour-mongering. I feel seen.
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@themetresgained There's a certain type of moderate-ish liberal who has an overwhelming, burning hatred of Labor far out of proportion to actual policy differences for whom this might be tough
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@moveincircles The point is correct but the wrong example as the Test Acts didn’t bar worship, just access to public office. Roman Catholics pre 1829 are the better example.
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Give me the intellectual hubris and total historical ignorance of a Year Zero liberal, and I too will assert that the nation where the Test Acts were on the books for 200 years has always viewed "freedom to worship" as a "fundamental value"
Ed Davey@EdwardJDavey
Imagine seeing British people at prayer and thinking “this is a great chance to stoke fear, hatred and division”. People who do that should have no place in British politics. Freedom to worship is a fundamental British value – one the Conservative Party used to believe in.
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@taipan168 That always created poverty traps. We need to curtail the scope for benefits, not return to locking people into permanent dependence
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I’ve said this before and it’s true. Means testing of benefits was the way that Australia kept government welfare spending relatively low as a % of GDP.
Such a shame that this model is breaking down on a number of fronts, including the age pension.
theaustralian.com.au/inquirer/the-a…
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@themetresgained @post_liberal To be fair to him, he renounced his peerage.
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@post_liberal You should've seen my face when I discovered a few years ago this left wing icon "Tony Benn" was originally Anthony Neil Wedgwood Benn, the Viscount Stansgate.
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LOL at the idea that people in the House of C̶r̶o̶n̶i̶e̶s̶ Peers are necessarily there on merit. This is even more ridiculous when you consider the political hereditarianism that exists within the Labour party itself with its many generations worth of Kinnock’s, and Benn’s, etc.
Cabinet Office@cabinetofficeuk
This is the biggest reform to our Parliament in a generation. 🇬🇧 This morning, the 700-year-old system of hereditary membership in the House of Lords was abolished. Membership is now earned through public service and merit, not granted by an inheritance. ✅
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@MajorBlipvert @Sahar_A_Writes Did Qatar attack Iran? Not so far as I know. Might have been a good response from the ABC
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@Sahar_A_Writes Is Qatar full of Zionists? Is that why Iran attacked it?
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@PhilWMagness The detentions of Moseley and others were a cause célèbre and marked a turning point in Commonwealth administrative law. Ironic, given the lawlessness of many (though perhaps not all) of the subjects' ideology. Lord Atkin's dissent in the House of Lords is famous.
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Mosley was not the "leader of the opposition party" - the British Union of Fascists was a tiny fringe group of Nazi sympathizers that never won an election beyond the local level and had no seats in parliament.
His connections to Hitler were extensive. His sister-in-law was Unity Mitford, a British socialite who personally befriended Hitler and joined his personal entourage in the 1930s as competition with Eva Braun.
Mosley was interned during WWII after MI5 tied him to a conspiracy to set up a pro-Hitler puppet government after a planned German invasion. There is simply no defense for what Tucker is peddling here. It is outright Nazism.
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Tucker Carlson is explicitly praising Oswald Mosley, head of the British Union of Fascists and personal friend of several leading Nazis (he even held his 1936 wedding in Joseph Goebbels' home in Munich with Hitler in attendance).
Tucker Carlson Network@TCNetwork
This kind of stuff happens during war. We should be on guard.
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@BenPhillips_ANU Is there a readily accessible ‘working age not in employment or study’ measure? My guess is some stark differences driven by different LF participation rates.
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Ugly chart but notice the unemployment rates of states/territories have all converged around 4% post covid. Difference between best and worst has previously been upwards of 6 percentage points. More than 4 years since a state/territory had an unemp rate >= 5%.
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@LombardiBrett ? There are G-G relations between any number of western countries and the PRC. I don’t like that stuff, but we’ve had it for decades. The US itself has had it.
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@Sheps71 Victoria signed on to the Belt and Road initiative and Australians say the *US* isn’t what it seemed?
Imagine how we look!
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I think many allies’s populations have been so demoralized and caught up in enemy propaganda they still don’t know what the hell is going on with the US.
They see Syria, Venezuela, Panama, Iran. Cuba soon, and just go “huh?”.
It’s not an accident. Our information environment has been constructed to be like this, on purpose, by our enemies and with the help of many insiders.
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@GrayConnolly @zoecabina By comparison with the alternatives, the Pahlavis are the small ‘l’ liberal option: female emancipation; white revolution etc.
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@Sheps71 @zoecabina Well done, Peter, good to see you abandoning all that small l liberal nonsense for solid Shah poasting
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@LombardiBrett No: the US may still deliver. But thre is merit in diversification and we need to accept the US isn’t what it seemed 25 years ago.
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@Sheps71 Remember when the best advice available was for Ukraine to take the black pill because Trump purportedly wanted to end NATO and help Russia beat Ukraine because he secretly worked for Russia?
Australia needed to end our trade and defense relationships with the US too?
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@JohnHumphreys99 Both are quite plausible. Neither is a good argument for non-price rationing. If anything, we need price-based rationing to motivate the search for alternatives, which is to say, make both demand and supply more elastic.
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Two quick notes:
(1) the short-run demand elasticity is pretty low, so it will take large price changes to significantly change the quantity demanded.
(2) in the short run the supply elasticity may get close to zero in some instances, as foreign suppliers ration based on former contracts (not the highest bid), and some countries shut down exports to secure their domestic situation.
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Australia's fuel crisis hasn't really started yet.
There's been some shortages already, but those were mostly caused by panic buying & logistics issues. We still have enough fuel in the country at the moment, but that is about to change. What next?
1. There's going to be lots of talk about price gauging, but this is mostly a distraction. If we don't have enough fuel then the only options are rationing through higher prices or rationing in some other way. Rationing via prices has the advantage of motivating supply responses and ensuring fuel is available (albeit at high prices) in an emergency... but even if you prefer another system of rationing, the underlying fuel crisis remains.
2. There's going to be a lot of talk about Australia's lack of preparedness. This is true, and should hopefully motivate renewed discussion about fuel stockpiling, domestic fuel supply, and diversified trade partners. But these are potential solutions to the *next* crisis, and will be too late for the current crisis.
3. We have about a month worth of fuel stockpiles. This can be rationed to last longer than a month, but obviously it can't last forever.
4. If the Iran war continues, our only option is to look for fuel imports from other sources. If we offer to pay enough then hopefully we'll attract some more supply from the Americas or elsewhere, but this will come at a high price and is unlikely to fully fill the gap.
5. The issue is bigger than just fuels. We are also reliant on Middle East imports for urea, which is used in trucking and agriculture. As with fuels, if we offer enough money we can hopefully attract some urea from Indonesia & South Africa, but it won't be enough. This will directly hurt farmers and push up the price of food for consumers.
Hopefully the US/Israel war on Iran comes to an end soon and we avoid the worst outcomes. But if that doesn't happen, I fear that the coming economic crisis is going to be bigger than what most people currently expect.
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@PackerPSmooth @HammillRyan @george_w18 @MinooFramroze He attended Haileybury and his birth was announced in the Times.
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@HammillRyan @george_w18 @MinooFramroze Yeah he was upper-middle class from London, his dad was a solicitor
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Clement Attlee’s grandson who looks just like him going undercover to investigate fraudulent lorry deliveries
What a wonderful political side plot
Gareth Corfield@GazTheJourno
A Conservative peer has branded West Midlands Police "corrupt" after going undercover to find out how the force increased its income from HS2 deliveries 70x over just five years. Earl Attlee posed as "John the driving assessor" in the cab of lorries carrying abnormal loads.
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@LombardiBrett Also, beware mistaken dichotomies: it os possible they are both bad (as is Europe’s frequently populist protectionism - the stuff that has delayed and blocked past trade agreements)
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Beware Left-wing populism.
European governments can persuade their voters this “China good, Trump bad” view is wrong; or they can let uninformed voters push future European governments away from the US and further towards China.
This anti-US, anti-Trump sentiment is left-wing populism. It’s driven by spite, egotistical leadership, and entitlement.
The US won’t accept excuses if Europe pulls away. The US won’t care why or how European countries arrive at foreign policy decisions. Europe has public education, publicly owned media and regulations on everything- if they persuade their own voters of Left-wing delusions, it’s on them.
If Europe goes down this road they should expect no help on anything, ever, from the US. Europe will soon see just how much they rely on the US without realizing it. It will be a rude shock.
Other countries, including Australia, should also take note.
Beware Left-wing populism.
POLITICOEurope@POLITICOEurope
The 21st century is more likely to belong to Beijing than to Washington — at least that’s the view from four key U.S. allies. The shift in attitude appears to be driven by Trump’s disruption, not by a newfound stability in China. 🔗: politico.com/news/2026/03/1…
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It's utterly amazing that some people believe that there are 200 billion barrels of oil worth $20trn that could be economically extracted and refined in Australia and turn us into the next Saudi Arabia but aren't because something something "wokeness".
James 🌸🏴🇦🇺@comical_engr
South Australia may be sitting on one of the largest untapped oil resources on Earth. Australia is also... #1 exporter of iron ore #1 lithium producer #1 LNG exporter #1 coal exporter on Earth And the 3rd largest energy exporter on the planet. In other words… Australia helps power the world. Yet we still import most of the oil that keeps the whole thing running. Which makes even Adelaide, super interesting… Back in 2013–14, studies suggested the Arckaringa Basin near Coober Pedy could contain 200+ billion barrels of shale oil equivalent. Some estimates at the time suggested the resource could be worth around $20 trillion, and that's now over 10 years ago. Meanwhile Australia carries around $1 trillion in government debt. For context, Saudi Arabia has about 240 billion barrels. Venezuela around 300 billion. If those estimates are even close… That's Trump takeover territory Saudi-Arabia scale. Honestly, people in Adelaide should be sitting on gold-plated toilets by now and living the high life. Instead… Australians hand over close to 50% of their earnings in taxes and charges. Countries with big energy reserves like this usually turn that wealth into national assets. Norway built a $1.7 trillion fund from oil. For a country this resource-rich... you’d think we could at least afford our own fuel. So the obvious question is... Where exactly is all the money going? Credit: Marc Owen
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@EconTalker One day we should hear from Rich Gouyet (?spelling), whose name must be next only to Roberts, Munger, Boettke, Hayek and Stigler in the list of references
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So grateful to Liberty Fund for their support and commitment to excellence over the years.
Liberty Fund@Liberty_Fund
For 20 years, EconTalk has invited listeners into thoughtful conversations about economics, philosophy, and the ideas that shape a free society. Hosted by Russ Roberts (@EconTalker), the podcast has explored markets, institutions, culture, and human flourishing with scholars, writers, and practitioners from around the world. What began as an experiment in long-form dialogue has become one of the most enduring and influential podcasts on ideas. More than a thousand conversations later, EconTalk continues to reflect what Liberty Fund values most: civil discourse, intellectual curiosity, and a serious engagement with the ideas of liberty. Thank you to Russ Roberts, EconTalk’s extraordinary guests, and the global community of listeners who have spent the past two decades thinking with us. You can watch the full-video recording of this 20th Anniversary episode at 🔗 loom.ly/lvxG8dc or check out the full EconTalk podcast archive at 🔗 loom.ly/xnQgZJ8
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@LombardiBrett The EU is primarily a customs union: it is hardly a surprise they impose tariffs (and yes, they shouldn’t). The PRC behaves badly. I didn’t see why or how either justifies the sort of capriciousness Washington has shown for the last decade
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China banned our iron ore, wine, barley and lobster and arrested Cheng Lai. Weaponized medicines, medical equipment and protective gear during Covid.
EU has huge tariffs on Australian products too but nobody cares because Europe is Left-coded. Only supported Ukraine once forced to do so.
Trump put tariffs on everyone, because after putting tariffs on China they circumvented these with transshipments.
We don’t need to be happy about the tariffs but treating it as the collapse of US credibility is overblown.
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@Sheps71 What’s broken promise that Australia should worry about, specifically?
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