He prophets best who heeds Joyce
I n these increasingly desperate times on global financial markets, faith in the ability of politicians to solve the world's economic problems has been in short supply.
I n these increasingly desperate times on global financial markets, faith in the ability of politicians to solve the world's economic problems has been in short supply.But after searching around for answers, CBD was relieved to find a website highlighting the past predictions (and warnings) of the Nationals leader in the Senate, Barnaby Joyce.The founder of the blog barnabyisright.com, who asked not to be named, said the recent concerns that the US could default on its $14.3 trillion of national debt vindicated the comments made by Joyce to the Herald in late 2009."A default by the US means complete economic collapse around the world and the question we have got to ask ourselves is, where are we in that," Joyce said at the time. The senator also raised the alarm about Australia's government debt in the interview.The S&P downgrade of the US government's AAA credit rating at the weekend prompted barnabyisright.com to post the entry "I Told You So".The creator of the blog, launched in February 2010, said it was driven by his anger over the treatment of Joyce during his brief tenure as Tony Abbott's numbers man."Anger at the dishonest, and economically ignorant treatment that Senator Joyce was receiving as then newly promoted opposition finance spokesman, due to his courageous and prophetic voicing of concern over US (and Australian) debt levels, and the risks that these debts (foreign and domestic) pose to Australia's future."WHO'S NAIVE?When contacted by CBD yesterday, Joyce said he also felt his past warnings about US debt had been vindicated. "I don't get enjoyment out of it. There's no joy out of the pain it's going to cause," he said about the world's level of indebtedness.Barnaby said he was annoyed at the economists who branded him as "naive" and "absurd"."You should Google search me for that period of time. And you should Google search them too," he said.It was only last month that the founder of barnabyisright.com said he was contemplating the future of the blog "in that wonderful place where our latte-sipping, concrete-jungle-dwelling, holier-than-thou, 'green' totalitarian-wannabe paragons-of-hypocrisy never actually venture (the bush)".It seems the S&P downgrade has guaranteed the future of the Barnaby tribute site for some time yet.ANOTHER BRICKThe impact of the financial crisis appears to have permeated into all aspects of daily life. Lego builders from across the land swarmed on Canberra at the weekend for the 2011 Brick Expo, where the centrepiece of the event was a 6 metre high Lego structure which looked very similar to the Citi building in Sydney.While no large corporates (such as Citi) had the naming rights on what was possibly one of the highest lego skyscrapers in the world, the organisers of the event used their imagination to name some of the tenants of the building.They included Schiester & Schiester Financial Planners; Bicker Back & Forth Corporate Lawyers; and Cooke Books & Hyde Accountants.Spotted at the bottom of one Lego tower was a Lego character, in a sign of panic, holding a $1 million bill in his Lego hand.HIGH STANDARDSNews Corporation announced the shock news at the weekend that Elisabeth Murdoch - who happens to be the daughter of the group's executive chairman, Rupert Murdoch - would not be joining its board.Despite Murdoch senior signalling his plans to have Elisabeth join him on the board when News Corp bought her Shine television production group for #415 million ($651 million) in February, the media conglomerate issued a statement on Friday noting how she "suggested to the independent directors some weeks ago that she felt it would be inappropriate to include her nomination to the board of News Corp at this year's AGM"."Both Elisabeth and the board hope this decision reaffirms that News Corp aspires to the highest standards of corporate governance and will continue to act in the best interests of all stakeholders, bethey shareholders, employees or the billions of consumers whom News Corp content informs, entertains and sometimes provokes every year," a statement issued by the chairman of News Corp's corporate governance committee, Viet Dinh, said.There was no mention whether it had anything to do with the recent phone hacking scandal that has led to several high profile resignations at News. It just appears Elisabeth may have wanted to aspire to the highest standards of corporate governance.Got a tip? Use our online tips box or email email@example.com