Privatisation of Qantas and the Commonwealth Bank (Happy New Year)
Added 2025-12-31 04:46:03 +0000 UTC[Patreon Exclusive]
Hello Patrons,
We hope you had a great Christmas.
This video is a Patreon exclusive followup to our video on the 80s we put out 2 weeks ago. Make sure you watch it here first for more context: https://www.patreon.com/posts/accord-146032611?utm_medium=clipboard_copy&utm_source=copyLink&utm_campaign=postshare_creator&utm_content=join_link
In that video we spent a bit of time on the privatisation of the Commonwealth Bank but there is much, much more Jordan wanted to say so we've turned it into an extended chat here. If it looks like he's being too pro-privatisation in general at teh beginning we recommend you watch the whole video for the full context.
Yes, Jordan filmed this with Photobooth.
Thank you for your support throughout this year, it's been a bit of a crazy one and we couldn't have done it without you patreon supporters. We've got a lot of big things in the works that we want to show you soon alongside some updates about everything going on with the channel. Keep your eyes peeled in the new year, we'll be back soon. In the meantime we've still got some exclusive and early videos for you to enjoy!
Happy new year everyone!
The FJ Crew
Comments
Bit of joy today. Sam fat Groth is removing his snout from the verve clicquot, lobster, oyster and tennis trough that is the Victorian Liberal Party. BUT not before, in classic tanty throwing brat boy behaviour, throwing his ghastly party under the bus!
Noni Morrissey
2026-01-05 02:43:04 +0000 UTCPoverty is more expensive. Often needing to pay incremental car registration because having the annual fee is not an option. People with money will pay car registration in five year intervals and just not worry about it. It’s more time spent worrying about it to for the person without enough. Admin fees are charged per transaction. The less time you pay for, the more you pay for each month. You need the car, the licence, etc, but to keep it costs more because you’re poor. How is this good?
Imogen IB
2026-01-04 11:26:05 +0000 UTCThis is great. I have to come back and listen again. Thanks for unpacking this stuff. Of course that’s true. I do wonder of course about that “for profit” model with little regulation, and how that kind of turns the tables from good for the country and all, to not so great for anyone but shareholders. Without regulation a lot of profit can be made - usually by charging people with less more.
Imogen IB
2026-01-04 11:19:07 +0000 UTCI genuinely wish people would view privatisation in australia through the lens of CSL: keating got a law passed to prevent people infected with hep c from their blood products from being able to sue prior to ASX listing (incidentally the blood base came from the arkansas prison system and was a worldwide issue at the time because the usa is the world's largest blood exporter, and bill clinton was the governor at the time too) - but it allowed CSL to upgrade their facilities and research through private investment the government couldn't make at the time thanks to the incredible tightrope they walked on spending and inflation. you couldn't get a loan through a normal bank - you had to go to a credit union (demutualisation in the 80s would be an incredibly nerdy topic for fj to discuss) and only really changed with the deregulation of the banking industry. We pay less for airfares now - we just have a huge deference to qantas. new zealand got their telecom privatisation right - they separated the infrastructure from the retail. given enough time i'm sure that keating would've part privstised aus post too.
Simon
2026-01-02 08:05:05 +0000 UTCyeah but a public owned bank be nice
Greenlach7
2026-01-01 20:39:25 +0000 UTCthanks Jordies
Greenlach7
2026-01-01 20:28:14 +0000 UTCI remember being less than 20 metres from Michael Costa at NSW ALP state conference in 2008 when he was foaming at the mouth after being called out by Morris Iemma over the proposed sale of the electricity grid. The fact that he's now a regular on Sky News shows you just how much of a labor man he really was. The ALP deserved to be in the wilderness if that's who we chose to lead us.
Stephen Crane
2026-01-01 12:13:35 +0000 UTCreally trying to get yourself set up for that keating interview huh. i'm all for it
Ahmad Mostamandi
2026-01-01 03:47:59 +0000 UTCThe example of Telstra being sold off with the Greens help is such a silver bullet to any of their Labor hate spill. Great find there, Jordan, outstanding!
Dob WoLF
2026-01-01 01:37:04 +0000 UTCA solid social safety net to stop preople from falling through the cracks + a solid ladder with little hindrance to move upwards(equally) should be the aim of every country, and Australia is doing pretty bloody well. The main thing we have a problem with is comorbidities, such as mental and physical health, addiction, ect. wich stops people from being able to participate economically, aswell as our safety net is not fully tailored to help those people. Im not usually one to tell people not to complain because nothing is ever perfect but saying our economic philosophy is our main problem is just ridiculous.
Tyrone
2026-01-01 00:58:04 +0000 UTCThe diversification case pont is HUGE! Jurisdictions where people offshore their wealth, Panama, etc, the ones that only make their wealth through fees in making the rules not apply to ultra wealthy people, if they don't have a diversify the state essentially becomes like its ran by the mafia who have governments who work for them now. Diversification for Australia is HOW WE HAVE OUR SOVERIGNTY! It's huge
Dean Lewis
2025-12-31 11:25:20 +0000 UTCIn keeping with Socialism, looking at Marx's Base and Superstructure theory, the market, profits, GDP, etc (economic base) are the building blocks for the Superstructure (public education, courts, public parks.... whatever) For Marx, it wasn't so much about government controlled or privately controlled, but do you build the superstructure that serves the needs of the community or forget any form of distribution and let the ultra wealthy stuff their wealth under their mattress and as in the Charles Dickens book, Hard Times, where the industrialist character Josiah Bounderby threatened the wealthy would just throw their factories into the sea if they're taxed.... that's the fight, building the super structure, not giving into any wealthy horder who threatens to throw their factory into the sea (or leave) if they're asked to pay the taxes they owe Then there's the question of the good society (the super structure) and building in such a way that the Overton window isn't hovering against positive change On CommBank, this wasn't what was happening (as they acted like a public bank) if it were public now then the state could have a player in there controlling interest rates by means of a little hand of government in a public institution not the profit motive. But at the time, what were the levers? If different levers are needed in 2026 one could always set up MyBank (in keeping with MyGov, etc, or similar) and have a stronger hand for loan repayments being more fair for home owners... But then it's like the NDIS, do we have private companies with the government as a regulator and enforcer of regulations, or as the one being prosecuted by the courts for putting disabled people in horrid conditions? This tuff is never easy
Dean Lewis
2025-12-31 11:15:07 +0000 UTC
