Posts by Steve Hogan

Well, that about wraps it up for the NBN

$1600 per person

Thats $1600 per head in Australia, not per connection. We will need to pay $1600 per person for the NBN.

Does every person in Australia have their own internet connection?

My numbers aren't fuzzy, your logic is. Most households in Australia have more than one individual residing therein. You do not need one connection per person in each house.

I agree that the new service will probably not cost end users much more in up front fees and it will definitely provide a superior network.

My issue is that the $50 billion setup cost will not be recouped from connection charges and we will all end up paying more in our taxes for it. The set up cost does not include ongoing maintenance fees.

The existing network uses existing infrastructure, either Telstra is making a killing at the moment or an NBN connection will end up costing a lot more.

That doesnt mean NBN will be good for Australia

Korea is not a great model to show that the NBN would be a good thing for Australia. Korea has a far higher population in a much smaller geographical area. The cost to roll out in Australia is huge, the takeup will not be as high as Korea's and the ROI is poor.

If 1million users subscribe to high speed broadband at $50 per month, it will take 66 YEARS to recover the setup costs. IF installation comes in on budget.

Has anyone else done the basic math and figured that the NBN will cost $1600 per person in Australia to build, IF it comes in on budget.

If anyone thinks that they arent going to be taxed significantly more to cover this, they are living in a fairy wonderland. This stupid, arrogant government will tax us to destitution.

Four National Broadband Network myths

"income of government-owned enterprises" IS taxpayer's money

The simple fact is that income of government-owned enterprises belongs to the people. If assets are purchased with this money, sold and then purchased again with taxpayers funds there is a good chance a private enterprise has made a killing. If the sale and purchase prices are in favour of the private (non-government) enterprise then taxpayers' money has been squandered.

Wikimadness XVII: The Return of Byrne

Construed?

Saying

"Ah, yes. Excessive naked shorting can then be construed as market manipulation, which I believe is illegal."

is like saying shooting someone in the head and killing them can be construed as murder.

I would love to see someone attempt to defend themselves against a charge of market manipulation where there is proof they had performed shorts naked. The two things stopping this at the moment are toothless regulators and difficulty proving the naked condition of the trade. We need a whistleblower.

Shorting may be OK, but naked shorting is definitely not.

Angus,

You are right when you say you cant sell something unless someone buys it. However, you can sell something you don't own. This is normally called fraud, but is usually, or has been usually overlooked in the case of naked short selling.

The American stock market is not the only market affected by this practice. It is also rife in the Australian stock market. It has been speculated that ASX, an incorporated business managing the stock market in Australia, is in collusion with institutions participating in naked short selling. Some financial journalists are of the opinion that the share register the ASX holds may be incorrect and corrupted by this practice. For example, a fund naked shorts some shares, selling them at discounted prices to create a dropping market and panic selling. This is to drive the price even further down so they can buy them at the cheaper price and transfer them to the entity who purchased them off the fund at the intermediate price. However, occasionally the shares remain tightly held and there are not enough available to buy to meet the sale order. Tthis is where the fraud is occuring.

The ASX is crediting shares to the buyer that don't exist. This is why I will not trade in stocks until naked short selling is illegal and prosecutions occur. I could be parting with cash for shares that do not exist.

The market is being artificially manipulated. Real manipulation is bad enough, but when it can and does happen due to fraud encouraged and supported by the governing body, thats a bit too corrupt for me to want to have anything to do with it.

Samsung fires up 128GB SSD massive attack

My reading problem

Thanks to all who corrected me, I will try to read more carefully in the future.

Math problem

Someone's math is out, or they are putting a hell of a lot of redundancy in these drives. 64 times 16 gig is 1024g. Is this a terrabyte drive in disguise?

Lightsaber voted top movie weapon

ChookChoker

The greatest weapon isn't Chuck Norris. Its Vin Diesel