The ABC of Australian public policy making and growing the economy

(C)Francois Humbert(Fran) 2017-2018

*** Last update 17-7-2017 see Derivatives and Glass-Steagall

The future is the education of our children.
Educating our children will insure a better future for all of us,
some of the leading economies do have free university.

Solutions are limited by our choices.

In public policy making and policy implementation, activities for some are limited to law and regulations but this is looking at real world human activity systems by the wrong end and will not increase our choices.

Public policy is about 'a you me and us' human activities in this real world with social judicial and economic interaction within our Roman law system of values such as the value for effort justice and family.

To formulate policies a lot of outside-in lateral thinking is the ABC, the SSM analysis of human activity systems is a good start before policy formulation, SSM helps thinking from the contextual viewpoint to the particular, this form of strategic thinking is the opposite of our legalmentarians small print policies or bookkeeping busy with more and more complex rules to divide the cake.
Policies implementation and execution follows and requires an interactive audit approach with its generic rules(see auditing below) to set up regulations, most importantly with precise measurable deliverables set within a schedule of outcome measuring execution results.
The execution of the policy and measurement of its implementation and outcome is as important as the formulation itself of a whole political program.
Political parties, citizens, parliamentarians, are the actors in public policy making which is about lives and life in the real world. Skills such as communication and real world experience help, the parliament is supposed to contain enough individual different walk of life and experience from auditing the trading floor to managing a large business while keeping a balance between workers shareholders and the executive and contributing to government revenue, to working in and managing public service or defence forces.

Politicians must have the ability to meet local voters needs in a global interconnected fast changing world and what was yesterday subsidising the right behaviour to protect local jobs has become encouraging the right behaviour in the new global world to improve local content and jobs and what some call now deglobalisation is really only just protecting local revenue to build schools and hospitals and this involves multinational companies behaviour control rather than just locally owned businesses

'Economie politique' is about improving the policy process as much as the political/ policy execution and content in term of economics, simple things such as understanding that growing the cake,
the ABC of economic growth is about growing the revenue without increasing the rate of taxation,something bookkeepers and media often miss.
In this economic context this ABC means improving process and content in public policy to make the most from all our resources HR minerals... another miss by our budget centric media.

A ABS, Age Pension. Auditing-rating in public policy

ABS the Australian Bureau of Statistics

ABS the Australian Bureau of Statistics produces documents to help drawing public policy for the age pension, with figures enabling to measure the level of dependency on the age pension as a Principal Source of Income(PSI 70 to 85%) at retirement age and the level of super contributions by industry sector, as well as overall for each year since the starting of mandatory employer contributions.

These figures enable the measuring of the combined weekly income with centrelink(*) for pensioners on rollover super plans, 2025, without change to the current retirement and super policies is the year a majority of Australians will use less than 50% of the safety net as PSI while still depending on Super and asset income + safety net.

The ABS also produces documents enabling to measure economic growth as well as household debt, private debt, industry and government debt (local state and commonwealth) for comparisons with other nations and importantly to measure the impact of various policies across different sectors of the economy(**).

ABS Documents in the area of unemployment are not reliable for policy makers because unlike most of the OECD we do not operate on an insurance basis connecting with retirement and mandatory unemployment registration while having heavily means tested benefits.

(*) The average non age pension income per week is currently between $200 and $300(with voluntary contributions around $300 to $450), check the author's web site for the detail year by year at reaching retirement age for the typical weekly retirement income, today 85 % of retired Australians depend on the Age Pension for some form of income, 70% depend on the Age Pension for the majority of their retirement income.

(**) At the beginning of 2014 or the last figures from the dec qtr from the ABS Credit Market Outstanding table shows that the Govt national debt is $325.5b
State and local debt $145b+$108.7b
the household debt is $1766b and
our private debt $2338.2b(billions) most of it Mortgages debt(secured by the assets).

An other ABS document shows that we will have nearly $2000b of super savings very soon! (around $1.88trillion to start 2015). The debt in Camberra represents 7.5% of the credit outstanding while private and household debt represents 90% of it, super savings are as high as 50% of the credit outstandin

A Age Pension

Age Pension : Age pension policies will gain importance in coming years with half of Australian voters reaching 50 and thinking more seriously about retirement income.
Most OECD countries have built policies enabling progressive retirement and work for seniors however many of these countries have non means tested retirement policies in the form of insurance based on three tiers contributions, employer employee government,
the Australian pension insurance system was abandoned a while ago during the menzies years.

Our newer Australian pension situation is different from most OECD countries, we have a more recent Super system started 30 years ago during the Hawke-Keating years, the common span of such system to reach maturity is 42 years. Our super feeds the market loop and is one of the largest pool of savings in the world dwarfing our government debt but it will not be sufficient alone to remove the pressure on the age pension which has become more of a safety net, unfortunately without 'real' additional progressive retirement policies(*) such as the ones in Scandinavia France or Germany, see the author's economic web page for more detail.

A Auditing :

Auditing : Auditing looks at the economy and public policy from the outer world or an outside in approach appropriate to design policies as found in SSM and Catwoe
C onstraints
A ctors A ctivities
T ransformations/ processes
W eltenschung (culture of the business/ activity)
O wnership and
E nvironment as this data is captured in drawing a human activity systemic view / image useful in policy making and enabling to support a pro active reviewing auditing approach of policies in term of

auditing rules,
ie are these policies, human or economic systems,
cost effective
flexible, adaptable to ongoing changes
within a clear line of accountability and ownership of who's in charge of maintaining and upgrading and enforcing them
as well as do they serve the purpose they were intended to be built for.

With these rules policy makers and implementers review the implementation process and refine policies,
deliverables and
a schedule of outcome
to be checked during implementation which must also be specified clearly.

Economics parameters must also be taken into account with first an outside in approach(see ** above credit outstanding ABS figures), only after these activities and actors have been clearly outlined first, can the processes/ transformations be refined

A Auditing-rating :

Rating : Rating agencies measure risk from an auditing viewpoint and compare the gross debt at a given point in time to the yearly revenue while avoid using any GDP figures.
Rating Australian States is absolutely bizarre given unlike in the USA where states can file for bankruptcy, the Australian constitution makes the Commonwealth liable for the debt of our States!
Warning by rating agencies depends on circumstances, and the gross debt outlook, auditors will start raising their eyebrows when the Gross Debt covers more than 90% of the yearly revenue/ tax, but it is a loose concept using other parameters even Colin Barnett in WA was caught by surprise, although one can always argue that mortgages often represent 400% or more of a dual household income, not a small 90% but it is safe and secured by bricks for the lender.

Rating of Australia AAA is tricky, with the States and local Govt debts, grants, loans at various levels and both very large brick secured assets and savings of nearly two trillion dollars of super, Revenue figures from the ABS of $500/$600b (Cmwlth+States+local-Grants see also senior2014 for more detail),

... but shows a warning to downgrade is possibly getting closer specially if both the economy and revenue stop growing, how much our savings and better for us non sovereign Kangaroo bonds borrowings are valued is the question, many Corps had a triple A rating the day before going belly up with the GFC 1.0 but it was because of toxic derivatives, some rating agencies have been stranded in cyberspace with legal problems of their own since and so did some of our unlucky councils! However the derivatives are still around, lets be aware of it.

B Budget :

The budget or ledger is just like the office desk to the right with plenty of drawers and entries/ files.

For the media and bookkeepers the budget is all about transferring the content in the drawers from one to another by increasing taxes or cutting expenditures, if not at best quantifying budget programs stored in these drawers to occupy treasury staff, but dividing the cake is just gobbledegook in term of public policy and local electors, instead growing the cake is the real Mc Coy!

Growing the economy not only enables to create jobs, it also enables to increase government revenue most importantly without increasing the rate of taxation as -we- industry of all kinds fill up the drawers to run the nation's account and create further jobs.

All what you can see excluding the desk and the back office tasks and drawers on the above image but including the wizzard itself is what is used to grow the economy, not back office reformists!

-we- fill up the drawers with economic growth in manufacturing production down processing adding value locally and local education etc etc etc.

In economics terms budgetomaniacs budget101 and treasury tax101 zombies are useless.
Instead it is developing resources of all kind, HR, mining etc, skills, etc...which represents real economics.
From the point of view of policy makers and local jobs and elections the focus is 'jobs' for voters interested by growth and job creation and security, that means deglobalisation re- skilling insourcing reshoring local jobs down processing adding value and supply chain protection with precise and well targeted PPPs taking effect pro-actively.

It does not mean reactive outsourcing offshoring delocalisation mondialisation and globalisation with pseudo “clever” convoluted trade agreement for multinationals escaping the tax through vertical landing and brown bags in fiscal paradises and by the same token cutting our revenue for health and education.
There is an opportunity cost when following ultra left policies which prevent other things to be done in priority such as free university, and ditto for ultra right offshoring and selling assets which kill growth, industries, and jobs.
In the drawer metaphor a marxist bloated bureaucracy is the large back office emptying the ledger drawers(CRF/common revenue fund to be plundered by ultra marxists) with more chiefs than indians, drawers that were filled up by people creating growth in the fields.
Consequently the current form of debate in the media and parliament is plotting the 'back office reformists' influence made of the ledger centric right wingers (the bookkeepers) or the leftist social mob plundering the CRF versus the hands on 'people in the fields' looking for local job creation, that is, us local voters!.
Australia has two million public jobs out of 12 million, social services health and education have do-ers and back office jobs, the challenge for public policy makers is to employ all hands making the most of all our resources not chopping hands, when it comes to unemployment and retirement policies design, the challenge remains to make the most from all our resources in an economic sense as well as in a social sense, one cannot overshadow the other!

For the most it is not really a political debate of leftists versus right wingers when both sides have their ghosts hanging around in this house of smoke and mirrors that is our budget, a budget where one can offshore billion of dollars of defence industries and jobs and in the next breath deny to defence personnel a modest increase in wages when the nation is fighting terrorism and most difficult conflicts with the UN

Recession and stagnation are associated with falling living standards these are facts worth remembering more than our unemployment numbers which are based on a wrong calculation criteria and tinkered with because we are not running unemployment and age pensions on insurance like policies but instead we are running them on means and circumstances tested budget outlays.

Parliamentarians too often legalmentarians have been elected to design public policy, grow the cake within the constitutional and legal framework, protect the nation, create jobs, protect industries supply chain for jobs critical to build the nation future, not to discuss budget trivia using smoke and mirrors, bean counters and experts in small prints or -clever- bookkeeping tacticians.

C Constitution

The Australian Constitution has been built on values for -Effort, Family and Justice-, we have built a sense of duty for our nation cemented by the sacrifices in two world wars, but do we have a sense of duty for our Aussie States ? Does the Commonwealth have a sense of duty towards our Aussie States ? Nothing can prevent a newly State elected Williem Boar III to walk into a State Mint tomorrow to print Gildings and most of the Australian Taxation is more based on legislation than constitutional ground and could be revoked by the States the same way, almost instantly. Our constitution is bypassed everyday a bit more by the Commonwealth and Australia has a vertical imbalance between State and Commonwealth rarely matched between local and central government in any OECD Countries with an enormous amount of unnecessary duplications including judiciary.
The whole funding system between States and Commonwealth will have to be seriously reworked in keeping the critical force in our fiscal integration before talking of 'federalism and republic' can make any sense.
In such event public policy will have to take into account the new 'deglobalisation' push in economic policy with the return of Commonwealth/State jobs in well targeted pro-active PPPs(Private Public Partnership) to anchor local jobs whenever the new free for all 'VL/vertical ownership' threaten to kill both revenue and jobs in our critical industries.
According to David Solomon, 'The State of the States' The Federal system in Australia is a mess. The States continue to exist only because the Constitution in effect prevents them from being abolished. But essentially they have become beggars rather than the sovereign entities they once proclaimed themselves to be. Even when they are united, they are unable to lessen the political and economic dominance of the federal government.....The single most important reason for the decline of the states arises out their dependence on the Commonwealth for money.
They are unable to raise enough revenue to fund their own expenditures.

It is worth adding to David Solomon last line(*) in the comment that this is a terminal cancer and States receives a double whammy of denied revenue from Canberra when it is cutting the cake instead of growing the cake, 'cleverly' passing the buck
(increasing the GST will definitively worsen this problem, get ready for more debt and more cutting the cake backoffice techniques)
...that is in top of the problems of duplication(probably up to one third of the budget!) and waste that have been unresolved due to the difficulty to pass amendments in the constitution, since 1901 less than 10% of the last 50 constitution amendment referendums have succeeded with the current prevailing counting method, another problem for 'funding policy' makers! see -Australian State of the States- on the author's website for more.

Until WWII the State collected most taxes including Income Tax the largest revenue collection, during WWII this right was stripped from the States because of War efforts and never amended in the constitution nor given back after the war.

C Constitution Corporatocracies

As I write these lines the British Parliament that operates nearly 100% by legislation rather than constitutional amendments has just introduced a legislation which will tax corporate profits made in the UK by corporations installed in tax havens or in cyberspace,
it is a food for thoughts if you write policies to chase the growing Vertical Landing brotherhood and eCommercers killing revenue(specially GST) and local businesses who unlike the brotherhood cannot escape taxes including a GST supposed to fix States problems but does not apply to internet commerce.

Corporate vandalism discussed at the recent G20(*) is one of the main cause of revenue shortfalls and the OECD and the IMF are trying to find solutions, possibly a long shot given that toxic derivatives that have created the GFC are still around for a probable GFC 2.0 if nothing is changed.

eEducation from Harvard and the like will also calm down the desperados of higher education fees, when countries such as France and Germany leading tech developers in Car and Aircraft manufacturing have no fees including for most foreign students, even airbus industries a 24 govt and private PPP is operating Airbus Industries supply chain electronics and robotics free universities for its participants.
(*) it does not mean all corps don't pay their fair share of tax, most do,
local ones pay even more than they should, even when we say our Super funds work for the benefits of our members, the money has to be invested somewhere, often in equities to get returns...or even jobs rather than capital intensive activities hopefully not derivatives!

Email the page or the card above to a friend or click the image to visit the senior economics web site Pages

D Conclusion : Debt Demographics Democracies De-globalisation Derivatives

With proper usage of all its resources, no cash in hand, no offshored jobs, and all activities feeding a steady revenue growth, all combined with a strong cultural identity, Australia could enjoy a much bigger population and its associated growth.

The current government debt is manageable specially when made of kangaroo bonds/ securities(see figures above), but our household debt is concerning, we have the largest household debt to income ratio in the world with Canada, in line with some of the highest property price in the world.

Our system of funding for the States is not sustainable, creating a debt at State level which will never be repaid by the States alone, further more the State are not able to invest properly on their future to take advantage of their strengths and develop the economy, consequently with the mining boom slowing down and little investments in down processing, adding value activities apart from construction, and without urgent replacement activities for the silly dismantling of large manufacturing chunks, a recession could be in sight.
- Currently only NSW is escaping Australia economic slow down, thanks to capital intensive activities and construction industries propped up by asset speculation from overseas investors often buying with printed paper, the penalty is paid by other States and industries as well as locally by our younger generation!

- After the mining 'dutch disease' lacking adding value, we have now a new two speed economy in NSW to replace it.

- The States have failed to take advantage of their strengths, because of obtuse thinking from Canberrists regarding their capacity to generate revenue through a -real- full employment that cannot be measured under the current ABS model.

-Just bad Bookkeeping economics going back to the Costello years and a crazy implementation of the GST which now could well be leading us to a recession that we did not have to have despite efforts in construction and infrastructures.

-All this will not bring markets closer and bring down our transport costs to these, below bulk and container size!

First the transition from this recession will be painful if left to the globalisation Vertical landing musketeers which can asphyxiate national economies by owning globally vertically all the different components of the chain in each industry and infiltrates in democracies people at the heart of political decisions.

Second, without systemic re-skilling and re-developing state ownership in PPPS as a priority to protect critical industries wages and to offer flexible opportunities to the workforce the Australian economy and living standard will decline, trade unions are good at the work context and need to be more pro-active on the re-skilling front and State owned enterprise output, because if it is strategic to jobs and the nation it must stay in State hands.

Finally the privatisation pendulum reached the end of its course from State based industries of 50 years ago to the excessive privatisations of today free for all characterised by decreasing government revenue, the pendulum is starting to swing back towards PPPs and -deglobalisation- to protect jobs, industries, govt revenue from the toxic excesses of the free for all, vertical ownership/ landing.
Australian politicians making public policies have not yet waken up to this new buzzword, -deglobalisation-, and level playing field safeguards appearing here and there where they are needed. This will happen here too albeit less, because our main trading partner China, should still cushion our economy more than other economies...but only if we are careful with vertical ownership and not selling the goose that lays the golden egg!

Growing the economy will require skilled policy makers and unions having a strong awareness of the excesses above.
Growing the economy will require a financial and banking system purged from the excesses of exotic transactions such as derivatives(which could swallow our super if we are not careful), a financial and banking system supporting not only capital intensive or mortgages activities but also an efficient market with equities helping local business development, local innovation and local new industries.
Growing the economy requires to keep an eye on UK japan US and EU busy QE, which utilises offshore hands and exports inflation. Ultimately this will hit us back with devaluation of currencies and the dance of prices on retail shelves whenever it is no more feasible to utilise new available offshored hands in developing countries currently absorbing the inflation without destroying totally, local industries, jobs and currencies.
No one want bitcoins or virtual currencies and a cash in hand economy taking place in cyberspace destroying our capacity to build our schools, our hospitals, destroying our capacity to protect our culture and values!

ABC Policy makers reminder:

A Economics is not an exact science, however there is a bit of art and psychology in economics but certainly no budgetomania, only resources development, all kind, putting all hands at work.

B Since Bretton Wood 70s the $US is the world currency, because of that, the US Market economy may never work downunder for us strictly as a model, remnibi and Euro blurred things a bit more for the $US as world currency, and all major currencies have been printed a lot lately.

C Since the 90s removal of the Glass-Steagall the world banking system developed questionable practices and toxic financial products that BIS/ Basel 1 2 3 etc... have not yet eradicated.

Demystifying Economic Jargon

Deglobalisation : We are going currently through a phase of migration from the free for all to more re-regulated and precise bi-lateral agreements, from multilateral agreements driven by industries and corporations to more flexible multi bi-lateral agreements driven by the Nation States rather than large corps, in the banking system we are talking about a modernised version of the Glass-Steagall to avoid GFC 2.0., but this will not protect nations and states from devastating effects on local jobs of Virtual Currencies and Vertical Landing and Ownership, the internet and its black economy, making the Swedish cashless model even more relevant.
The election of Donald Trump is the confirmation of a step taken by populations in France Germany Russia China Japan simultaneously since two or three years or about from about 2014...anti outsourcing and offshoring sentiments are gaining traction in these populations and elections to re-localise or retain jobs in the context of PPP(Private Public Partnership)

(see Submarines and ship building and defense contracts) , rather than total sale or privatization of government assets or div ing into corporations driven multilateral agreements the future look more like sale+PPP combined.

Re-localise or retain jobs in the context of PPP(Private Public Partnership) is important, specially for example to drive the PPP in the sale/ privatisation in WA of a 49% part of Western Power(51% currently) while retiring some of the WA State debt on the books, strategic assets such as Fremantle Ports should not be sold given the specific situation of WA and its distance to all trade destinations, beside undesirable defence implications.

49% would have been the protection against the predators, ie the Private Equity Funds in the style of B&B, but the State want to sell 51% LOSING CONTROL to retire the debt and be in line with the bogus calculations of rating agencies...
- but who cares about rating agencies who gave a triple A to Lehman bros the day before the GFC, they have lost any credibility, did they had any credibility left is the question?
- Does that make sens to rate risk about the debt of the States when the Commonwealth is liable for the debt of the States in our Constitution anyway, and further more our States cannot file for bankruptcy!!

The Liberals lost the WA election and the sale was prevented but now we have to deal with the borrowings from State Government agencies such as Western Power that accounts for nearly half the debt of the State of WA, one of the richest State in Energy of the Planet!

Vertical fiscal imbalance a tale of two states WA & NSW.

Vertical Fiscal imbalance and the old GST passed its use by date model.

WA Debt $33b
WA population 2.5million(2007 2.1million) increase 20% GST share ratio 0.34

2008 $3.6billion 2009 6.6b 2010 9.8b 2011 12.0b 2012 14.5b 2013 20.7b 2014 20.7b 2015 23.3b 2016 27.3b 2017 33.1b 2018 forecast $37.4b 2019 $40.6b 2020 $42.3b - - info from WA Newspapers

WA State borrowings 2009 $8.3b 2012 $5.0b 2015 $8.0b 2016 $1.6b 2017 $11.0billion) - - info from WA Newspapers

NSW Debt 0 population 8million (2007 7millions) increase 14% GST share ratio 0.88
Victoria Debt 29b population 6million(2007 5.2million) increase 17.5% GST share ratio 0.93
SA Debt $7bpopulation 1.7million(2007 1.6m) increase 6.5%
Queensland Debt $75b population 5million(2007 4.2m) increase 20% GST share ratio 1.19

Western Australia estimated 10 years GST Share revenue loss $22billion 2007 $1b 2008 $1.2b 2009 $1.4b 2010 $1.6b 2011 $1.8b 2012 $2.0b 2013 $2.2b 2014 $2.4b 2015 $2.6b 2016 $2.8b 2017 $3b
total of revenue shortage over ten years from GST share as at today $22billion
to which, one may add the loss of assets with the botched scandalous sale of Alinta (from both sides of politics) to an equity trust B&B that dilapidated the assets while Western Power kept adding borrowing and deficits to the books, a legacy of Labor, to the tune of billions making the other part of the growing debt.

A brainless GST distribution system inspired by a former brainless treasurer in Canberra(bookkeeper is a better name), has inflicted maximum unnecessary economic pain and maximum disintegration and imbalance! Who needs such a distribution whizzbang anyway on top of it?

The GST has passed its use by date :
it is an old 19th century tax designed and implemented by a bookkeeper adept of the calculette, it is today totally unadapted to the internet and its price transfer+ VL/VO(see glossary below). A 5-10% flat sale tax such as in the Swedish model collecting all in front at POS with modern 21st century technology is the way to go.
This approach enables to limit the black economy, prevent multis tax evasion, stop most if not all paper work(the old gizzmos-in – gizzmos-out whizzbang), decreases admin staff by half, facilitates self employment and the more casual work environment of today, specially for seniors, simplifies tax collection for both ltd companies and contractors/ self employed as well as enables PAYG and/or Centrelink age pension deduction automatically without paper work.

The current Commonwealth government is looking at this Swedish model and other models but do not hold your breath too long it could be a long time, the ATO is not really ready given the recent description in the media of what the Deputy Commissionner of taxation was doing recently.
See also Swedish model in glossary, the Author wishes the Government starts implementing a very small prototype in a define local area/ council or region, a very small portion of a single State, this will enable to start early and small with a low volume with a small dedicated Tech equipment to test the context and all connections with ease first and find the changes to be made to the system first on this small fully tested sample, then progressively enlarge to a whole State etc...
Run a Catwoe with all the actors first(see public policy Catwoe and proactive auditing and deliverables), beware of vested interest by some solution providers, start small selecting a small number of sharp specialist(ie card readers and POS) with experience in each field before going into any tender and make sure you have captured all the information flows before starting the prototype(the catwoe will help).

The author worked for a Swedish company SKF and implemented a system enabling physically disabled people to use a special computer display light pen to work for the company, strategic planning enabled at the same time to transform the acknowledgment system to serve in priority the 5 largest customers accounting for 95% of the turnover of the business.

Legalmentarian :

A small print legalmentarian
(versus a strategic thinker) a person who sits in parliament, with a legal education background and mostly regulatory aspects of policies understanding, instead of expertise in strategic planning and development and instead of experience in policy design and implementaion planning, with all its strategies and deliverables
- Unfortunately our politicians turn to Public Servants and outside solution service providers for these critical tasks, as a result we would be better served by selecting randomly good lateral thinkers in our community rather than elected politicians having climbed the ranks through branch stacking and/or a corrupt political process.

In view of the potential $100billion of defense contracts and associated jobs to be made available from Canberra, one would have expected a perfectly planned bi-partisan approach in WA, having been aware of the bonanza for more than a year.

To put the record straight, South Australia Smelters have won the day, beside this Steven Smith the former defense minister was the only Federal Labor link interested to help WA, Mr Mac Gowan Defense link was supposed to do better when challenged by Steven Smith for the State leadership but at the end did not do better for Labor in the face of the Federal Labor defending better equipped South Australia and closer to Labor South Australia, which brings us back to defending WA in a bi-partisan way.

Instead of the bi-partisan approach, at the session of the WA State parliament of the 17-05-2017 both sides of politics rejected the blame on each other and yet both sides of politics knew for a long time what was at stake. Watching these clowns debating in the circus of the WA Parliament the aftermath, 6months after the action was pathetic, with such poor strategic planning, are the States still relevant in their current form, that is, chasing money and pushing the begging bowl to Canberra? Certainly not.

Above a 5-6 years old forecast of the declining Commonwealth contribution to the State (Blue on Budget paper to the left and increasing State debt(in red from the author about at the same time)

Our legalmentarians are poor strategic planners, poor economists, short of experience, and certainly incapable of bringing anything else than red tape and new taxes, not new revenues and strategic ideas. When will States such as WA be capable of creating new job opportunities in new local industries with new revenues while bridging the distance and the transport costs to our distant markets instead of talking of sterile value capture that someone has to pay for, is it not like another way of robbing Peter to pay Paul?

Painter's viewpoint, pack all these people sitting in the house and their admin staff and Public Service immediate support(one thousand people) give them a specific mission concentrating on creating and running companies supplying new jobs and wealth, creating half a billion dollars of wealth for the State through these new companies over two years, or about half a million dollars each in the next two years, if they suceed return them to parliament, if not, note the shortfall, then send them to Centrelink and replace them by one thousand people selected randomly from the State and Public Service and see if they would obtain a better result carrying on the same mission with the same salaries, I bet they will!

This begs only a single question, are the States still relevant in their current form?

According to Prof. David Solomon, in “Coming of Age”, State of the States, ch 6, David Solomon
“The State of the States
The Federal system in Australia is a mess. The States continue to exist only because the Constitution in effect prevents them from being abolished. But essentially they have become beggars rather than the sovereign entities they once proclaimed themselves to be. Even when they are united, they are unable to lessen the political and economic dominance of the federal government.....The single most important reason for the decline of the states arises out their dependence on the Commonwealth for money. They are unable to raise enough revenue to fund their own expenditures...”

....I would add because also most of the main avenues to raise larger State revenue have already been visited in priority by the Commonwealth ATO, corporate tax, income tax etc... specially since after WWII, and without any constitutional amendments! What's left are just the crumps that support thousands of public servants and paper work. (see vertical fiscal imbalance and fiscal integration in the glossary)

.... Australian Senior Economics
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☻►Familiar terms used in Economic Jargon

Fiscal integration : Sharing a common tax system simultaneously with sharing a common currency, the opposite is having different tax systems sharing the common currency, the more differences the more vertical fiscal imbalance as explained just above with the GST distribution fiasco, such as the Euro with France and Germany on one side and on the other side the PIIGS, the victims, Portugal Greece etc...with their tax systems not able to compensate the effect of a very high currency.
In Australia NSW and Victoria are Germany and France, the other States are the Deplorables of Hillary Clinton. Another expression to correct this vertical fiscal imbalance is States rebalancing.

Cash rate : A non prescriptive indication from the RBA of the direction interest rates are going, it is possible to have a cash rate at 1% and interest rates on Credit cards at 19%, currently the bank are cutting the rates on Credit Cards to historical lows below 10% for some for the first time, because money spent on paying the banks is slowing the growth of the local economy so much that the ATO as officially said that it was reporting revenue well below community standards, ie our under-employment rate is very high and our ABS unemployment rate is laughable well below the reality.

Given we have the highest household debt rate in the world, money spent on Credit Cards is not spent on repaying the mortgage and massive defaulting on mortgages would precipitate a fall in house prices pushing in turn them to negative equity territory, that is when the mortgage value is much higher than the money obtained from the sale of the asset, which in turn put pressure on the bank ledger.

(1)BIS : The Bank for International Settlements based in Basel(a town of three countries, Germany, France and Switzerland). It is the world's oldest international financial institution(1930) and principal centre for international central bank cooperation with other agencies in pursuit of monetary and financial stability, it produced the 1988 Basel Capital Accord and its "Basel II " revision of 2001-06, and today's Basel III agreements following the GFC and concerns with Banks Products such as Derivatives, Credit Swaps, Exchange-Traded Funds...BIS role has become more critical with complex financial products created at an ever faster pace...unregulated exotic investments can become toxic products.

(2) IMF G7 G8 : Breakdown in international monetary cooperation led the IMF's founders in 1945 to plan overseeing the international monetary system's exchange rates and international payments enabling countries and their citizens to buy goods and services from each other. IMF countries until 1971 agreed to keep their exchange rates (the value of their currencies in terms of the U.S. dollar and, in the case of the United States, the value of the dollar in terms of gold) pegged at rates that could be adjusted only to correct a "fundamental disequilibrium" in the balance of payments, and only with the IMF's agreement. This par value system, also known as the Bretton Woods system prevailed until 1971, when the U.S. government suspended the convertibility of the dollar (and dollar reserves held by other governments) into gold. (*2) G7 US UK Japan Germany France Italy Canada ... (*2) G8 =G7+Russia

(3)OECD Organisation for economic cooperation and development(ParisHQ) established 1961, promotes free trade and economic development in industrialised and developing countries. Today involved in Global Trading recommandations such as fighting Profit Shifting by corporations and the erosion of countries Taxation base as a result of the digital economy/ eCommerce loopholes, albeit little practical measures to fight VL/VO were made available(see VL/VO ).

(4) ABS The Australian Bureau of Statistics created in 1905 is Australiaxation 's official Statistical Organisation for the Government and the community, its permanent head is responsible to the Treasurer since 1974. ABS employement figures measurement is generally considered weak, pension and super contribuions figures and population figures however are very reliable together with quarterly credit exposure figures which are frequently referred on this web site...Google Australian Credit Market Outstanding then look in ABS 5232.0 - Australian National Accounts: Finance and Wealth

(5) Securities: A government debt obligation backed by credit and taxing power of a country certifies a contract between the borrower (bill/ bond issuer) and lender (bondholder). The issuer pledges to pay the loan principal (par value of the bond) to the bondholder on a fixed date (maturity date) as well as a fixed rate of interest for the life of the bond. The Bond Market is close to $100trillion(BIS estimates) a third are US issued bonds, some held by China. A sovereign Bond is issued by a government within a given country and denominated in a foreign currency unlike all recent bonds issued by Treasury in $A, Non resident Issuers/ Kangaroos and Australian Dollar Eurobonds The fastest growing segment of the Australian capital market over much of the past decade...has been Australian dollar issuance by non residents.... Initially, much of this issuance was offshore in the Eurobond market, but increasingly issuance has moved to the onshore "Kangaroo" market... For more detail see The Australian Bond Market in 2011 and Beyond, Guy Debelle Assistant Governor (Financial Markets),RBA,2011
Recent resiliance of the Australian dollar to downward pressure may have caused our currency to be higher than generally wanted and some economists have argued that Kangaroo bonds issued in Aussie dollar held by investors my have contributed in a small part to this, the author believed that it is a small price to pay for the more stable currency afforded by our Kangaroo bonds

(6)Terms of Trade: ratio of export prices to import prices. A rise of terms of trade enables to buy more imports for a given quantity of exports, Australia Terms of Trade in the last 10 years have been the most advantageous in decades although in 2015 Australia terms of trade have started to fall in line with commodity prices, making more urgent our needs for diversification of our economy.

(7)RBA Since 1945 The Reserve Bank of Australia administers monetary(setting up interest rates) and banking policy from 1983(Australian dollar float and financial deregulation) responsibility shared with APRA since 1998.

(8)GDP Abstract total product of the nation gizzmos, stucks, wheels...Aggregates, an abstract concept, central to macroeconomics, amalgamate products, GNP Net Product see Budget paper includes taxes and Stock depreciation see also more meaningful net national disposable income per capita, or NNI

(9)Current Account measures the amount of money leaving the nation each quarter over and above the one coming in. For more detail see “Perspectives on Australia’s current Account deficit Keynote Address to the Australian Business Economists Forecasting Conference” by David Gruen, Chief Adviser (Domestic), Macroeconomic Group, Australian Treasury. In the ABS Report of March 2011 quarter Australia's net foreign debt liability position is $677.3b.

(10)PIIGS Portugal Ireland Italy Greece Spain have pressure with issued debt(see 5 above) in the context of the Euro PIIGS put pressure on European banks(many nationalized) and pension funds currently lending some of the debt.

(11)Glass Steagall. The term Glass Steagall Act usually refers to four provisions of the U.S. Banking Act of 1933 that limited commercial bank securities activities and affiliations within commercial banks and securities firms. The progressive removal of part of the Glass Steagall since 2000 may have play a part in the GFC and derivatives saga. See Wikipedia Google also CDO's and Non banks

The diagram below from the CEC Report shows the four main Australian Banks and Derivatives

You can also check this link in French for french speakers!

Derivatives and Glass-Steagall 17-7-2017 Update

It is difficult to find a definition of the Glass-Steagall that will satisfy everybody, but let's try!

For each $1 of the world trade there is about 100$(some say between 1000 and 10000) gambled mainly on exotic financial products at Canary Wharf and Wall St, gambled on the performance of some aspects of the trade itself including currencies and other aspects of gambling totally unrelated to the stock exchange instead of real trading investments!
There is nothing beneficiary to local jobs, local investment and trading and local equities when some rogue investors in Wall St threaten the entire banking system and gamble on Greece defaulting with an amount of gambling hundred time bigger then the debt of Greece itself, or when gamblers mixup good and bad loans in the banking system for the sole purpose of more gambling benefits.

To make an analogy it is a bit like gambling on the race just before the Grand Liverpool Steeple Chase with a prize for the winner of 100 000₤ and betting on the race above 500 000 000₤. While everything looks OK even so it is not the Grand National but the race before, until the number 4 attached to the saddle of the horse 'show me the money' is suddenly swapped with the number 7 attached to the saddle of 'Mr Ponzi' simply by returning the number tag and only to satisfy gambling by some punters on derivatives for the remaining of the race, while it is not as simple, the final outcome is the same, hidden behind convoluted software and java classes the whole whizzbang creates a smokescreen without a log, similar to sending the last auditor spinning into cyberspace with a stolen credit card.

A dodgy practice such as this one put at risk the entire industry of breeders trainers jockeys owners etc...transferred to the finance and banking sector, it means a controversial practice such as this put at risk the entire banking industry and stock exchange as well as the economy.

Bookies and Betting agencies are ruled by a code of conduct with specific rules to follow in order to protect the racing industry from fraud etc...these rules it is the Glass Steagall in the banking industry, BIS the Bureau of International Settlements which looks after banking regulations has neglected to put in place equivalent rules or a renewal/ adaptation and enforcement of the Glass Steagall regarding exotic financial transactions, the stock exchange and the banking industry since the Glass-Steagall was abandoned, instead BIS has preferred letting the banks regulate themselves with the consequences that we know, GFC 1.0 and GFC 2.0 is at the corner if nothing is done.

Today an investor can become a gambler using bitcoins or other crypto-currencies in the Bahamas betting on the Stock exchange and the value of currencies as well as using multiple conditions related to the death of some personalities without visiting a casino or a racing ground, this investor may not be even aware of it, further more savings and money from retirements can be chaneled into schemes / financial systems corrupted and uncontrolled through the Internet and sophisticated software hiding the trail, given computer logs are not always kept on some of these large transactions anymore (see recent Wall St interruption/ halt in trading and losses by traders).

Before the abolition of the Glass-Steagall and the nineteen sixty-seventy years financial institutions able to market these exotic financial products such as collateral debt obligations(*) derivatives etc... operated outside traditional banks used by the mass of mum and dad investors representing by analogy the racing industry above.

With the Glass-Steagall the entire banking industry was protected from clever and corrupted 'bookies' who today manipulate amount of investments so large that the entire banking industry could be placed at risk, as Lehman Bros collapse like a game of cards triggered GFC 1.0. If GFC 1.0 was cushioned by the too big to fall protection, there is no guarantee next time that the damage will not be much worst.

What we have learned from GFC 1.0 is that no auditor who advised to use some of these OVNIs(Elephant juice in the racing industries) was ever taken to court, and neither rating agencies who rated Lehman Bros triple A the day before it collapsed! In 2017 the magnitude of Derivative gambling as well as risks behind manipulations linked with PRIVATE EQUITY FUNDS(this subject will be developped later)
.... could even be more devastating than it was in 2008, if nothing is done an explosion of the Eurozone(*) or a sudden downturn in the stock exchange could trigger, the next GFC as mentioned by Joseph Stiglitz, the nobel prize of Economics.
In addition the collateral dammage will be local real equities and local real jobs as well as enormous pressure on the banking system already put at risk by crypto-currencies
(see VC (18) below), banks have already a MONEY MULTIPLIER equivalent to Printing 17 times the amount of deposits, this should be used to prop up the real economy not gamblers/ dubious rent seekers, a heavy tax on these UFOs would help to discourage the practice.

(*) Note: the concept of the Euro is supported by a Collateral Debt Obligations between France Germany and Italy but all are now in debt albeit Germany a bit less than the other two. The first phrase of the speech of Donald Trump to accept the nomination at the primary election started by: My first mandate will be to re-install the Glass-Steagall...

(12) PE Google Price Earnings
Price-Earnings Ratio (P/E Ratio) Definition | Investopedia
The Price-to-Earnings Ratio or P/E ratio is a ratio for valuing a company that measures its
current share price relative to its per-share earnings.

(13)Gini coefficient (also known as the Gini index or Gini ratio) (/dʒini/ jee-nee) is a measure of
statistical dispersion intended to represent the income distribution of a nation's residents, and
is the most commonly used measure of inequality.
Gini coefficient - Wikipedia, the free encyclopedia

(14)Household debt ratio (google this term), Australia has one of the highest household debt ratio in the world(ratio of household debt to income), WA has 1 million households and one of the highest State debt that will peak at around $36billion in a couple of years, how many of these households would be able to pay a levy of let say, 30k to 50k? The ratio for State debt to household is the highest in WA and the lowest in NSW, WA has argued for a long time to split the GST between States per head of population,the GST design and implementation was a fiasco, and its collection mechanism has been hit head on by the digital economy loopholes and a lack of technical expertise to collect it properly, but this does not stop the big winners such as NSW to promote the idea of increasing its rate before fixing the derelict collection mechanism when it comes to eCommerce and Credit Card.

(15) rating: rating agencies, see ABC of public policy page, WA and most Australian States have been downgraded(ratio of yearly budget receipts to Gross debt), but given our constitution should States be rated at all, given that ultimately the Commonwealth is liable for the Debt of our States(will this remain?), unlike in the US, presently our States cannot file for Bankruptcy, so why do rating agencies rate them if they are not liable for their debt?! Many political and economic analysts feel that States in their current form are no longer relevant, but fixing the States Funding and Changing their role is a political time bomb.

(16) Exotic Financial Products, Non-Banks, Private-equity-funds, Collateral Debt Obligations, Credit Swaps, Derivatives, Options.

read articles view videos in links below
See Also Glass Steagall and derivatives above and link with CEC Report which shows the four main Australian Banks and Derivatives For readers(rate payers) not familiar with financial deals and risks and non-bank regulations current talks -
a good start is to look at the links below :

Alan Kohler business spectator throw the gaming act at derivatives bookies

Auditor gave Banksia accounts a tick, Sydney Morning Herald

Stephen Long a betrayal of trust, ABC Four Corners

Retirees' nightmare: anything goes, ABC Four Corners

(17) VL/VO(Vertical Landing/ Vertical Ownership)

From an Auditor viewpoint “Tax Optimisation” is about vertical landing, and very significant parts of the global economy are entirely based on tax differential and vertical landing, apart from derivatives based on vertical sinking!

Although people have different interpretation for the same thing, auditors frequently call “Tax Optimisation” VL/VO or Price Transfer(a term more restrictive), which importantly affects the way complete sectors of the industry can be demolished, food industry, tourism industry, car manufacturing...and at first the Revenue Base from taxation in any Government, to ignore this, is running towards the cliff that Bruxelles is setting up with multilateral agreements that will kill entire sectors of the economy with their local jobs which could be protected industry by industry with bilateral agreements.

Any similarity one could find with an existing company in the millions of companies adept of VL/VO is purely accidental.

Vertical Landing et al: Example 1

Company A has an Edition company in Luxembourg Switzerland or any other country with a solid currency and low tax, print his book in Thailand China Vietnam or other low cost place for $5 each, pay them $15 when purchased by company B from company A and sell them in France or Belgium or UK for $10 from company B at a loss, making a loss of $10 in these places but for the owner of company A all the profits are in Luxembourg Switzerland or the Cayman Islands from the moment the book is printed in Vietnam or China or elsewhere and sold to B, of course A and B sometimes further level C and D used vertically are all own by the same interests and there is no profit in France Belgium etc...which are the countries with the higher level of taxes.

Vertical Landing et al: Example 2

A Company listed at the Nasdaq OWN three subsidiaries making gizzmos,a paper subsidiary to make the gizzmos in the US,a mechanical engineeringand robotics to make the mechanical part in germany and a chemical subsidiary for the chemical compounds in the UK for some parts of some gizzmos.

Depending where you want the profit made and taxes, or play with currencies,you may decide to buy the mechnical part at higher or lower price between the US parts and the German parts or decide to sell the chemical in the UK subsidiary at higher prices to store some profits in sterling pounds.

Vertical Landing et al: Example 3

Vertical supply chain, apply a combination of the above, example 1 and 2, to tourism, with the following components in the chain: coach/ buses, travel agencies, hotels and cruise companies sometimes you can also add the ship building.

Vertical Landing et al: Example 4

You buy a product on a supermarket shell it says, package country A, manufactured in country B, from local and imported ingredients(no precise location)

Vertical Landing et al: Example 5

You buy an empty shell "MyshellX" which looks OK for five days, through a private equity fund in Singapore or in tax havens, you swap debts with another Private equity funds or a non-bank or other entity, then you leave the empty shells "Myshellx" with massive debts and start trading to use the debt as a tax shield to avoid taxes,
Transforming equity into debt is also good with large real estate investments!

ultimately in all examples above you can also chase in which tax haven are the brownbags and the politicians on the band wagon.

Conclusion “tax Optization” represents a Government revenue loss of up to 30% growing by 5 to 10% each year, global economics are becoming less popular as the pot aux roses is unveiled, prompting the rise to different economic models such as Trump for the USA and Sweden.

Investigation squads auditing companies are extremely discrete and may be looking right into Trading floor and derivatives linked with drug dealers, sometimes investigating the supply chain can land you documents decomimissioned, but despite all that the complexity of the linkage of the free for all is just in the name itself!!. there are many many other techniques of the free for all that will never be disclosed probably the tax that is the most out of date today is the GST or VAT, unless it is adjusted to both the Turnover all in front tax collection and the Internet e-commerce it will keep killing local jobs!!!

Old tax systems that are adjusting "business gizzmos out from business gizzmos in" are only serving tax accountants, accountants and specialists raping the system rather and abusing honest companies having to spend critical time filling up paper work with local jobs.

(18) VC(Virtual currencies) Blockchains Vertical Ledgers Bitcoins see below IMF internal document used in discussions
Documentation in red added by the author, update of the bank central ledger in Australia(for example from the ATMs/ mnemopost file) or in Europe from the Clearing House mnemopost.
This document is from
the INTERNATIONAL MONETARY FUND Monetary and Capital Markets, Legal, and Strategy and Policy Review Departments Virtual Currencies and Beyond: Initial Considerations Prepared by an IMF Staff Team for discussions...
refer to sdn1603 IMF Virtual currencies for more

(19) ISDS - Official Arbitration Tribunal in the Netherland dealing with Countries/ States liabilities regarding Trade Agreements, the referee between public authorities and Corporations suing States for Dammages.

(20) The Swedish integrated fiscal model is a Tax and Administration system which is made cashless and paperless through a government-bank-business card which communicates each transaction at POS/ point of sale and on the internet to the tax office. It acessible through hand held devices smartphones/ mobile phones, tablets, and computers. It decreases fiscal fraud with companies and the black economy, decreases administration staff and facilitates company accounting. The simplicity of the system also enables to decrease unemployement by facilitating access to new activities and more casual activities as often the case in the 21st century, without loss of revenue for the Government. Shops and businesses as well as citizens self employed or employee share the same card system, in the context of Australia and the States it will integrate Centrelink with the Australian Tax Office and enables millions of workers to work paperless whether they are self employed, often the case with seniors, which also offers new work avenues for them and put more hands at work while reducing the weight of the age pension as these paperless jobs also retain contributions to the pension system as well as the work related means test automatically.

(20b) The Swedish integrated transitional private fiscal model is a Tax and Administration system which is made cashless and paperless through a private corporation assisting tax payers and communicating with the government tax office and centrelink in Australia each transaction at POS/ point of sale and on the internet to the corporation. Like the govenment model it is acessible through hand held devices smartphones/ mobile phones, tablets, and computers. decreases administration staff and facilitates company accounting.

Australia’s net international investment liability position as at 31 December 2016 was $1,021.6b, an increase of $60.9b (6%) on the previous year.
Level of foreign investment in Australia
The level of foreign investment in Australia increased $153.3b (5%) to reach $3,192.4b for the year ended 31 December 2016. Portfolio investment accounted for $1,659.8b (52%), direct investment for $796.1b (25%), other investment for $524.0b (16%) and financial derivatives for $212.5b (7%). Of the portfolio investment liabilities, debt securities accounted for $1,134.0b (36% of foreign investment in Australia) and equity securities for $525.8b (17% of foreign investment in Australia).
The leading investor countries for the year ended 31 December 2016 were:

United States of America $860.9b (27%)
United Kingdom $515.5b (16%)
Belgium $270.1b (9%)
Japan $213.5b (7%)
Hong Kong (SAR of China) $100.9b (3%)
Singapore $98.9b (3%).

for more see ABS 5352.0 - International Investment Position, Australia: Supplementary Statistics, 2016.html

(22) Key Economic Indicators, 2017
...are supplied by the ABS and the RBA see for example
See current quarterly ABS 1345.0 - Key Economic Indicators, 2017 which contains:

National Accounts Gross domestic product GDP, Chain volume measures
International Accounts Balance on Goods and Services and Balance on Current Account
Net International Investment Position (IIP) Net Foreign Debt
Income from sales of goods and services
Dwelling unit approvals Building approvals Total dwelling units commenced
Consumer price index Producer Price Indexes, Final Demand
Import price index Export price index
Labour Force and Demography Employed persons Participation rate Unemployment rate
Employment to Population ratio Estimated resident population Short-term overseas visitor arrivals
Incomes Company gross operating profits (in current price terms)
Incomes Average weekly earnings, full-time adults: ordinary time
Housing finance for owner occupation, dwellings financed

OtherEconomic issues
addressed by the author

Nuclear file :
Nuclear is not a commercial energy solution in Australia and may never be.

A letter sent by the Author recently to the CEC Report is an updated summary of the nuclear file document below.

Viewers of the CEC report may have been a bit mislead by one of your guests who was talking of nuclear energy recently in March 2017.

1 - For countries already committed to nuclear and having huge problems decommissioning dangerously old 'fission' based reactors, the move to new thorium based technology, meltdown free and with less potent wastes will be a necessity when commercially viable and safe, ie at a predictable cost and without the current accidents(Flamanville)

2 – Long term users of Nuclear technology such as France which has very very few other energy sources are committed already to the new nuclear technology because of this situation and fifty years of experience with commercial nuclear technology and research.

3 - Because the cost of new 'fission' based reactors such as at Flamanville is proving to be very high and difficult to predict, for countries not already committed to nuclear and not facing old reactors having reached their use by date and facing huge decommissioning bills, or a lack of other sources of energy, it is best to wait for 'fusion' based reactors from existing research projects(ITER) in France and a similar one in Japan, but a commercially viable 'fusion' based solution is at least five to ten years down the track, ultimately *micro-fusion* could be the holly grail, for all sorts of things, but it is not here yet for even a longer time.

Methane hydrate

the author is aware of the green house created by the methane hydrate escaping from the melting permafrost and the methane hydrate in the oceans in the context of the 20 years and 400 years cycles.
Methane Hydrate can be extracted as an enegy source to prevent its release in the atmosphere, the largest mining companies such as Chevron have massive on-going research projects(above fascinating clathrates that have escaped any interest from many of our climate change politicians and scientists al-beit Canadian US French and Russian scientists discussed clathrates and the melting permafrost with greenhouse effect at Unesco in the early seventies!...).

Patrick Francois and
Margaret at the MIT
Boston, USA

Author's profile

Born in a business family, his late dad was a representative of the French Chamber of Commerce in the US and employed 80 people in the Family's SME, his son, Pr Patrick Humbert worked on the genome in Boston and is a fellow of the MIT, his wife worked at the UN(Unesco) and previously at the BBC.

The author learned economics hands on, carrying out missions for the French Premier Raymond Barre combining senior software engineering expertise with finance such as leading the first large computerisation of the Renault Group Budget, and developing software to control trading floor and multinationals fraud ...sorry, tax optimisation, he had access to many FYO Documents from US CIA and GAO and many other sources overseas including internal discussions at the OECD and the IMF, the author also received a formal education with Post Graduate Econonomics and Harvard Master units in Strategic Planning and Systems Evaluation.

Francois preferred hobby is painting live in public, and writing interactive videogames on the internet such as Bastille.

Il aime Paris ou il est né il y a bien des lustres!

click the image below to discover Paris landmarks' history, visit Paris from your tablet with La Promenade, you will travel in the streets with or without Google street view, with or without the videogame! 1000 years in Paris, the city of lights and painters, free, sitting in your armchair!

Cliquez l'image ci-dessus et découvrez Paris son histoire, les anecdotes de ses rues, visitez Paris depuis votre tablette avec La Promenade vous voyagerez dans les rues avec ou sans google street view, avec ou sans le jeu vidéo! Mille années dans Paris, la ville lumière est celle des peintres gratuitement depuis votre fauteuil!

Francois garde un oeil ouvert sur le monde et plus spécialement les Etat Unis
Les 100 Premiers Jours
de Donald Trump

The author lives near Fremantle, Western Australia.

Click the map below, the author's world of sharing and happyness, people have accessed the author's web site from nearly one hundred countries, the most frequent accesses are colored on the map
Cliquez sur la carte ci-dessous, partager un monde de bonheur avec l'auteur!

All Paintings Cards Posters and TShirts material from the artist are subject to copyrights but free to print from the website or attached to an email as long as the image's content is not modified, web site & artist do not accept any donation, feel free also to use and print the material from the artist for a good cause

Last Updated 17/07/2017

- (C)Copyrights - F.Humbert 2014- 2018