This is an update on the Misinformation and Disinformation Bill currently in progress in the Australian parliament. It looks like the Senate will not pass the legislation which did however pass the lower house.
So in this show we look at the latest evidence given in the hearings last week, and more recent statements from some senators.
I think we need to be vigilant, but it is looking more likely the bill won’t get through in the next couple of weeks.
Worth pressing senators to ensure this is what happens!
The full hearings are available here: https://youtu.be/7OutKHkbfV8
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
Has The Bad MAD Misinformation Bill Hit The Buffers?
This is an update on the Misinformation and Disinformation Bill currently in progress in the Australian parliament. It looks like the Senate will not pass the legislation which did however pass the lower house.
So in this show we look at the latest evidence given in the hearings last week, and more recent statements from some senators.
I think we need to be vigilant, but it is looking more likely the bill won’t get through in the next couple of weeks.
Worth pressing senators to ensure this is what happens!
The full hearings are available here: https://youtu.be/7OutKHkbfV8
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
This is an edited version of a post John Adams and I made on In The Interests Of The People, doing a deep dive into the arguments around the proposed Combatting Misinformation and Disinformation) Bill 2024 which on the 19 September 2024, the Senate referred to the Environment and Communications Legislation Committee for report by 25 November 2024.
You have JUST ONE Day! as submissions close on the 30 September 2024.
This bill would severely curtain unfettered free speech by putting onerous responsibilities on social media platforms across issues as wide as electoral, health, social and economic. In practice the Government will define “truth” and will essential silence alternative voices.
You have a limited opportunity to make your views know before 1984 type conditions arrive!
About this inquiry: The bill proposes to amend the Broadcasting Services Act 1992 and would make consequential amendments to other Acts to establish a new framework to safeguard against serious harms caused by misinformation or disinformation.
The bill would provide the Australian Communications and Media Authority (ACMA) with new regulatory powers to require digital communications platform providers to take steps to manage the risk that misinformation and disinformation on digital communications platforms poses in Australia. These would include obligations on providers to assess and report on risks relating to misinformation and disinformation, to publish their policy in relation to managing misinformation and disinformation, and develop and publish a media literacy plan.
The bill would also provide ACMA with new information gathering, record keeping, code registration and standard making powers to oversee digital communications platform providers.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
This is an edited version of a post John Adams and I made on In The Interests Of The People, doing a deep dive into the arguments around the proposed Combatting Misinformation and Disinformation) Bill 2024 which on the 19 September 2024, the Senate referred to the Environment and Communications Legislation Committee for report by 25 November 2024.
You have JUST ONE Day! as submissions close on the 30 September 2024.
This bill would severely curtain unfettered free speech by putting onerous responsibilities on social media platforms across issues as wide as electoral, health, social and economic. In practice the Government will define “truth” and will essential silence alternative voices.
You have a limited opportunity to make your views know before 1984 type conditions arrive!
About this inquiry: The bill proposes to amend the Broadcasting Services Act 1992 and would make consequential amendments to other Acts to establish a new framework to safeguard against serious harms caused by misinformation or disinformation.
The bill would provide the Australian Communications and Media Authority (ACMA) with new regulatory powers to require digital communications platform providers to take steps to manage the risk that misinformation and disinformation on digital communications platforms poses in Australia. These would include obligations on providers to assess and report on risks relating to misinformation and disinformation, to publish their policy in relation to managing misinformation and disinformation, and develop and publish a media literacy plan.
The bill would also provide ACMA with new information gathering, record keeping, code registration and standard making powers to oversee digital communications platform providers.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
In this special show I am joined by Robbie Barwick from the Australian Citizens Party, and Economist John Adams, from In The Interests Of The People to underscore the need for people to make their views known to Government on the Combatting Misinformation and Disinformation) Bill 2024 which on the 19 September 2024, the Senate referred the provisions of the Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2024 (the bill) to the Environment and Communications Legislation Committee for report by 25 November 2024.
You have JUST SEVEN Days! as submissions close on the 30 September 2024.
This bill would severely curtain unfettered free speech by putting onerous responsibilities on social media platforms across issues as wide as electoral, health, social and economic. In practice the Government will define “truth” and will essential silence alternative voices.
You have a limited opportunity to make your views know before 1984 type conditions arrive!
About this inquiry: The bill proposes to amend the Broadcasting Services Act 1992 and would make consequential amendments to other Acts to establish a new framework to safeguard against serious harms caused by misinformation or disinformation.
The bill would provide the Australian Communications and Media Authority (ACMA) with new regulatory powers to require digital communications platform providers to take steps to manage the risk that misinformation and disinformation on digital communications platforms poses in Australia. These would include obligations on providers to assess and report on risks relating to misinformation and disinformation, to publish their policy in relation to managing misinformation and disinformation, and develop and publish a media literacy plan.
The bill would also provide ACMA with new information gathering, record keeping, code registration and standard making powers to oversee digital communications platform providers.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
In this special show I am joined by Robbie Barwick from the Australian Citizens Party, and Economist John Adams, from In The Interests Of The People to underscore the need for people to make their views known to Government on the Combatting Misinformation and Disinformation) Bill 2024 which on the 19 September 2024, the Senate referred the provisions of the Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2024 (the bill) to the Environment and Communications Legislation Committee for report by 25 November 2024.
You have JUST SEVEN Days! as submissions close on the 30 September 2024.
This bill would severely curtain unfettered free speech by putting onerous responsibilities on social media platforms across issues as wide as electoral, health, social and economic. In practice the Government will define “truth” and will essential silence alternative voices.
You have a limited opportunity to make your views know before 1984 type conditions arrive!
About this inquiry: The bill proposes to amend the Broadcasting Services Act 1992 and would make consequential amendments to other Acts to establish a new framework to safeguard against serious harms caused by misinformation or disinformation.
The bill would provide the Australian Communications and Media Authority (ACMA) with new regulatory powers to require digital communications platform providers to take steps to manage the risk that misinformation and disinformation on digital communications platforms poses in Australia. These would include obligations on providers to assess and report on risks relating to misinformation and disinformation, to publish their policy in relation to managing misinformation and disinformation, and develop and publish a media literacy plan.
The bill would also provide ACMA with new information gathering, record keeping, code registration and standard making powers to oversee digital communications platform providers.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Guess what, Bankers are looking at ways to ease lending standards to pump the market some more, as bank margins are under pressure at a time when lending growth is already strong, and more households are already in financial difficulty.
The value of new housing loans have risen by 17.9% since March 2023, to $27.6 billion dollars and were up 3.1% in March, according to the ABS.
The ABS also released their latest estimates of real living costs for households, they said Employee households recorded the largest annual rise in living costs of all household types with a rise of 6.5 per cent,
No surprise then that the DFA surveys for April showed a further rise in mortgage stress, to more than half of mortgaged borrowers, with many first-time borrowers and young growing families most exposed. In addition, rental stress remains very high, underscoring the pressures created by bad policy over many years, making housing unaffordable. On my live show coming up on Tuesday, we will look at this is more detail, and do a further post code deep dive.
AMP chief economist Shane Oliver says there might be scope to reduce buffers for people refinancing — the banks already have some room to do that — but cautions against significant changes to lending laws.
“We’ve gone through a very difficult time in the economy in terms of the massive rise in interest rates, and we’ve come through — so far anyway — at a relatively low level of arrears,” he notes.
“That partly reflects the responsible lending that the banks have been undertaking over the last few years. If we had to take a dramatic easing in lending standards, and the rules around that, the risk is that the next cycle could be far worse.”
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
The truth is that recent high rise construction in many Australian cities, are riddled with defects, and someone needs to pay for rectification. This surge in high-rise apartment construction happened as building certification was privatised, costs cut and poorly trained workers employed.
As a result, we have a litany of increased building flaws and quality concerns, such as cracked foundations, water leaks, balcony defects, and flammable cladding. According to the NSW Building Commission strata survey, more than half of newly registered buildings since 2016 had at least one significant issue that will cost an average of $331,829 to correct.
The Strata Community Association NSW found that waterproofing was the most common major issue, followed by fire safety. It also discovered that around one out of every ten buildings had structural and enclosure difficulties, such as roof or facade flaws.
Examples include Sydney’s Opal and Mascot Towers, which were evacuated due to extensive cracking.
Building regulation consultant Bronwyn Weir cautioned that an “enormous” problem had developed whereby “thousands and thousands of apartments have serious defects in their buildings”. “Some of these buildings could potentially be a write-off. We have what is now you know, a systemic failure that is quite difficult to unravel”, she said.
Engineer Leith Dawes warned that purchasing an off-the-plan apartment in Australia had degraded into a game of “Russian roulette” because of the numerous building faults that are frequently overlooked.
Similar structural problems have been uncovered across Melbourne, including leaking buildings, mould, and faulty balconies, Canberra, Gold Coast and many other areas too.
These problems have cost owners and taxpayers millions of dollars to rectify. But the problems are widespread, and many individual property owners are caught in the crossfire.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
Banking is a game of confidence, in that if fears of a potential bank collapse arise, then naturally people who hold money at that institution will try to grab their cash, and run. The Global Financial Crisis, where many banks were saved by the use of public funds.
But this means taxpayers are on the hook, and so post the GFC, there were attempts to develop alternatives which would transfer risks from the tax-payers to other parties, including shareholders bond holders and even depositors of an affected bank. The so called bank resolution – or living will – includes the deposit bail-in regimes which were proposed (initially by merchant bankers by the way) and adopted by the G20 to allow deposits held at banks to be grabbed and converted to equity. This happened of course in Greece a few years later.
In the IMF Global Stability Report from October 2023, there was a section which highlighted that the March 2023 bank runs in Switzerland and the United States were unusually large and fast with their speed and size facilitated by rapid online deposit withdrawals and the rapid spread of worries among important groups of depositors via social media and other digital channels.
I am often asked if bail-in is a real risk to savers, and my reply remains the same. It’s a theoretical risk for sure, thanks to the likes of the IMF and others, but practically, its unlikely to be activated because the collateral damage would be enormous. But understand that those bankers who dreamed up bail-in and the QANGO’s who are pushing it, are still pushing Governments to give the financial regulators ever more power, never mind democracy. Its a cautionary tale of who is actually calling the shots, and the risks to democracy are real.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Banking is a game of confidence, in that if fears of a potential bank collapse arise, then naturally people who hold money at that institution will try to grab their cash, and run. The Global Financial Crisis, where many banks were saved by the use of public funds.
But this means taxpayers are on the hook, and so post the GFC, there were attempts to develop alternatives which would transfer risks from the tax-payers to other parties, including shareholders bond holders and even depositors of an affected bank. The so called bank resolution – or living will – includes the deposit bail-in regimes which were proposed (initially by merchant bankers by the way) and adopted by the G20 to allow deposits held at banks to be grabbed and converted to equity. This happened of course in Greece a few years later.
In the IMF Global Stability Report from October 2023, there was a section which highlighted that the March 2023 bank runs in Switzerland and the United States were unusually large and fast with their speed and size facilitated by rapid online deposit withdrawals and the rapid spread of worries among important groups of depositors via social media and other digital channels.
I am often asked if bail-in is a real risk to savers, and my reply remains the same. It’s a theoretical risk for sure, thanks to the likes of the IMF and others, but practically, its unlikely to be activated because the collateral damage would be enormous. But understand that those bankers who dreamed up bail-in and the QANGO’s who are pushing it, are still pushing Governments to give the financial regulators ever more power, never mind democracy. Its a cautionary tale of who is actually calling the shots, and the risks to democracy are real.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
