[unbalanced zealot]

"November 2003 Update: A number of double dissolution triggers now exist, with the likelihood of more in the new year, notably the full privatisation of Telstra. It is theoretically possible for a double dissolution to take place before June 2004, but this remains an unlikely possibility."

Taken from http://www.australianpolitics.com/parli ... tion.shtml

I personally think that the property market is going to go 'pear shaped'
during 2004. Many people are going to be left with negative equity or in
the least - stagnent capital gains on their investments for quite a long
time to come.

Who agree's and also who thinks that Howard might factor in
this situation and go for a double dissolution to try to get in ahead
of it ? I'm really not sure - what do people think ?

Note - there have been two interest rate rises recently and another
is likely in Feb 2004.

[Efrem Da King]

What exactly is a double dissaloution election?


I don't know much about them.

[unbalanced zealot]

No worries.

It might just come about in 2004 - maybe.
On my way out in the next 10 minutes.
Will make a post re D.D. elections in Oz tommorow.

[GandalfTheGrey]

Basically, if the government reaches a deadlock with the senate and can't pass legislation through the senate, the PM (through the Governor General) can dissolve both houses of parliament and call an election. In this election, all senate seats are up for grabs, not just half of them in the case of a normal election.

I personally think that the property market is going to go 'pear shaped' during 2004. Many people are going to be left with negative equity or in the least - stagnent capital gains on their investments for quite a long time to come.

I'd be interested to know why you believe this. People have been saying this for a long time now, and yet the property market has just kept going up and up and up (I am talking mainly about Sydney, which I assume is what you are talking about). I get the impression that people simply take the attitude that it can't last forever, something has to give, but it just hasn't been the case so far.

As for the DD, my instincts tell me Howard won't go for it. I'm sorry that I don't actually know much about the Senate numbers at this time but I don't think its changed much at all since 1996. This may sound quite simplistic, but Howard has got his way with just about everything, including the 2/3 sale of Telstra, despite not having the numbers in the senate. Besides, on what grounds is he to believe that a DD election will improve the situation for him?

[unbalanced zealot]

Gandalf already gave the info on DD election but there is
some more detail in the link in the first post. Actually -
he's probably right that it won't come about - but then
again I wouldn't rule it completely out either.

[Efrem Da King]

YAY thank you gandalf and Cult.

[GandalfTheGrey]

Good points there Cult, you obviously take a keen interest in such matters.

Really - the thing I care most about is that perhaps
if the property boom ends - so will all those fucked
reality TV shows with their do it yourself tips and
Bunnings hardware store sponsership ads. I hate
that kind of gabage TV product.

Haha, too right! If you are a cricket fanatic like me, you'll realise the monotonous amount of Bunnings warehouse ads

[unbalanced zealot]

cheers. Yep - I'm a big cricket fan too. Just watched
Ponting's innings against India. Wicked.

Re the property predictions - pls feel free to make
smart arse comments and generally give me a hard
time - if things turn out to go exactly the opposite way
(with the aussie residential property market).

[redcarpet]

I highly doubt there will be a double dissolution election.

It would mean a lower Senate quota. More minor parties.

We know Howard will not like that, he wants to get Testra privatised, cut precsription drug subsidy, etc.