Middle East Eye — Ex-Australia PM Abbott says West should 'proclaim superiority over Islam'

Clash of civilizations brewing?

Deposed Australian prime minister Tony Abbott declared on Wednesday that "cultures are not all equal" and the West should proclaim its superiority over Islam, sparking accusations he is trying to "Trumpify" the nation's politics.

The staunch Catholic also called on Australians to stop apologising for their values.
Abbott, who was ousted by Malcolm Turnbull in a Liberal Party coup in September but remains on the backbench, urged the West to "be ready to proclaim the clear superiority of our culture to one that justifies killing people in the name of God".

"We can't remain in denial about the massive problem within Islam," he wrote in an opinion piece for the mass-market Sydney Daily Telegraph.

Middle East Eye
Ex-Australia PM Abbott says West should 'proclaim superiority over Islam'

Xinhua — Urgent: Australia has decided to join Asian Infrastructure Investment Bank: PM

Australia has decided to sign a Memorandum of Understanding on the Asian Infrastructure Investment Bank (AIIB), which would allow Australia to become a founding member of the bank, said a statement released by Prime Minister Tony Abbott Sunday morning.

In the carefully worded statement, Abbott said the signing of the MOU will enable Australia "to participate as a prospective founding member in the negotiation of setting up the bank."

"The Government has discussed the AIIB extensively with China and other key partners inside and outside the region," the statement said.

Xinhua
Urgent: Australia has decided to join Asian Infrastructure Investment Bank: PM

Et tu, Tony?

Zero Hedge
US Attacks "Closest Ally" UK For "Constant Accommodation" With China (3/13/15)

John Armour — Why, sometimes I’ve believed as many as six impossible things before breakfast.” (or what’s so hard about MMT)

Proponents of MMT generally can’t understand why people don’t “get” MMT as it seems so obvious. They may have forgotten however, that at their critical point of ‘enlightenment’ they had to jump a number of conceptual barriers to get to the other side. 

In my experience, these are the six (seemingly) “impossible things” you have to believe (before or after meals, it doesn’t matter) to have any hope of ‘getting’ MMT. Once you believe these “impossible things” however, the getting of wisdom follows quickly and logically.

The order of priority is based on my experience of the degree of ‘jaw dropped-ness’ as I’ve sought to explain to friends, family, and household pets.

(1) Taxes don’t fund anything

(2) The government doesn’t borrow from anybody to finance its spending

(3) The government’s fiscal balance (deficit) is the non-government sector’s surplus.

(4) The government creates currency by fiat (‘out of thin air’)

(5) Bond issuance is not borrowing.

(6) Banks lend without reserves constraints imposed by the central bank.

They are of course not “impossible things” but the absolute reality of the sovereign fiat monetary system we actually operate under.

I could’ve added a few more but I needed just six to fit my literary allusion (“Through the Looking Glass”).

Modern Monetary Theory: Real Economics“
Why, sometimes I’ve believed as many as six impossible things before breakfast.” (or what’s so hard about MMT)
Guest Post by John Armour

Speaking truth to power (video)

Trending — Speaking truth to power.

Senator Ludlam welcomes Tony Abbott to WA

(h/t John Zelnicker)