http://www.abc.net.au/news/2014-10-31/anz-announces-record-profit-of-73billion/5856330 Don't get me wrong, I am not against making a profit, but what is enough? They talk about a "modest 7 per cent" increase. Well when we are talking about $7.1 billion there is nothing modest about 7%. To my way of thinking, in a relatively closed financial system, if one gets an increase in profit, wouldn't someone else have to get a decrease. We are talking about a hell of a lot of money, it's one bank, it's one year.
The issue is more nuanced when it comes to corporations (especially banks) because they collude with government for special privileges. In the case of banks - their entire business model is special.privilege. In the absence of such interference, there is no limit on profit. The goal should never, under any set of beliefs, be to restrict profit. It should be to eliminate coercive activity - profitable or not.
Time for a super-tax on banks perhaps LOL. It's a bit rich (no pun intended) considering that will take someones property (life savings often) at the slightest failure to meet their obligations.
In a capitalistic world there isn't any room for *enough*, yes the banks make billions, the mining industry is making billions, money is spent on military, but nothing left for a decent education. Mind you, Labor and Liberals are not that far apart. However, under the current climate we are moribund and suffocating, we will die a painfully slow death because not only do we have an incompetent government, we have one without a vision. It might not affect myself that much anymore, due to age, but I feel sorry for my kids and grandchildren. The question will remain, whether banks should be held accountable if they make gigantic wins, but at the same time sack their employees. How can it be that the mining industry is making billions while big part of that money is going overseas? Some things need to change.... Regards
Something is clearly NOT right, when a bank like the ANZ declares its going to make a $7.3 billion profit. Obviously there has been a lot of people ripped off, and no one seems to care. LOL
They need to spread the wealth a bit back to the people if these numbers are real. The people/customers need to be looked after considering its their money that is being used to make these profits - we arent resources to be drained.
My question is. "Who pocketed the $7.3 billion dollars"? It doesn't just float around in cyberspace, or end up in an inanimate account somewhere.
Maybe its the lies that the banks tell their customers that is the problem, and the lies facilitated by the media. A 5.96% home load that is advertised really = 100% + more on paying back your home and interest loan. That's why a home house & land Package valued at $400,000 over 30 years = total repayments of $800,000 - 100% payback instead of the advertised 5.96%. Maybe its time for the media to STOP facilitating LIES & DECEPTION
Yes, it is obscene. Any other business that was profiteering to this extent the ACCC would be on to them in a flash. There is clear tacit, if not outright collusion between the banks. The greed of the banks is sickening, being an essential industry they should be made to rein in their huge profits and provide a cheaper service. I don't know how anyone who works for a bank can sleep at night.
More importantly where is the onus to support the society they operate in? What percentage of tax did they pay?
The link to the above. Makes interesting reading especially about "Old Mate" Clive. http://www.theaustralian.com.au/national-affairs/banks-bashed-over-company-tax-but-clive-palmers-firms-paying-none/story-fn59niix-1226929373534?nk=d08ea451658711311ae2d244e166bb33 Read More.. This was a comment on the SMH story .... The author of the reply's last name was Goldberg ... go figure ... lol http://www.crikey.com.au/2014/09/30/big-banks-stiffing-the-tax-office-to-the-tune-of-billions-but-how/?wpmp_switcher=mobile These are the people CD thinks should run the country??????????>>>>>>>>>>>>>>>>>WTF http://www.abc.net.au/news/2014-09-29/a-third-of-top-australian-companies-pay-less-than-10pc-tax/5775870 Read more:
I did not say the people listed in your links are the people that should be running or managing our country. You are not being honest D.V What is the difference between ALP & LNP politicians, when they facilitating the philosophy and methodologies of banks?
No you said we should have business people running the country, not politicians. You said that politicians have no business experience, we need someone with business experience. Well I have found, most businesses in some way or another are corrupt or do illegal things. The problem is that Business people ARE running the country. To your question, there is no difference which is why I follow neither.
Good links DV It is not just or only the tax but as individuals we owe a debt to society to support that society. That is in compulsory systems such as tax but also in voluntary contributions such as charity works. There seems to be fewer and fewer charity gifts from these big corporations back into the communities they exploit, sorry I meant "serve"
If most businesses in your opinion are in "some way corrupt or do illegal things" and our politicians are facilitating that corruption and illegal activity, then it would logically seem human beings have not intellectually advanced enough to discover an alternative choice to our current social and economic situation. This brings me back to the post I have posted many times: humanity is many centuries away from the ideals of utopia. Therefore, it looks like we just have to play this game as best we can for the time being. Yes, business people are running Australia with politicians as their puppets, but its the major foreign owned business in control of our puppet politicians, who are allowing these major businesses to take advantage of Australia's resources and its people that is causing the major problems. 99% of our banks foreign owned 85% of our resources foreign owned Airports, roads, ports, all foreign owned We own nothing, and when a country owns nothing, it cannot generate revenue based on tax alone. Then it starts to stagnate and die. You are employed is a senior position, so surely you can see this?
When I say most business, I do know that there are a lot of small business such as yours that try their best to be a productive member of their community. I was once sacked by a small business because I did jury duty. I know I could have taken them to task, but I believe the lesson was worth it. Never trust someone when it comes to money. The old fella that owned the business always raved on about what a good community minded business they were, but when it came to having one less staff member for a few weeks. He did ask me to try and get out of it. I said NO, I believe it is my civic duty. I think it was that which pissed him off.
Unless "you" specifically played some crucial role in his business that would have lost him ten's of thousands of dollars during your absence, then I personally believe he should have given you the appropriate time off to fulfill your civic duty. We never have a problem with our employees taking time off work for civic duty, or for personal reasons, if it is genuine. We have a lot of older staff that have been with us for ages, and some of them even feel obliged to to offer to send in a family member to cover for them if they have time off work - bless em. I also understand that "not" all small business go into business wanting to do the right thing by their employees or their community, but there are a lot of Australian family businesses that do genuinely care, and are concerned about more than just themselves. I don't know what the exact ratio difference is between old style business practice and the current model, but it seems to be favouring the more greedy people and businesses these days, verses the older style businesses that are community orientated.
