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moorookamick

22,600 Posts.

769

20/11/21

10:13

Post #: 57719673
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Originally posted by moorookamick: ↑

IMO the most important thing come the next election is
economic policy and what the major political parties intend to
do over the next 3 years & beyond.

The elephant in the room is our inability as a country to live within our means
and that is exemplified by our combined Governments debt of over $1.4 trillion
with the current Governments forecast that that will reach $1.85 trillion
by 2025 or 100% of current GDP.

This debt obligation wont be cured by deflecting attention to external issues
which we have little or no control over and neither major party has the political stomach
to offer a longer term solution, just more of the same kicking the debt can down the
road for the next generation to pay.

Even if tax receipts are increased to an extra $60 billion a year, it will take over 30
wars to pay down the debt at the current bond interest rates. If that interest rate
doubles as predicted by 2025, it will take 60 years to pay down the debt.

Economic common sense based on Greece, Argentina etc tell us that we simply
can't ape the USA whose Greenback is the global reserve currency. Instead
our Peso is more in line with minor currencies that once that country is in economic
strife , the currency sinks like a lead balloon.

So forget the whimps on these threads who try to compensate for their personal inadequacies
by leeching on to a strong leader regardless of policies or economic plans because
like fundamental analysis in the Stock Market, economics over time calls the shot .

So wakie, wakie, pay heed to political history where economics call the shot over time;
not strongmen driven by bald testosterone who come and go and leave economic
wrecks in their wake!

Since 2013 the the Coalition has racked up $700 billion of debt ; that's on average
$100 billion a year of debt on an average of $550 billion a year of income (tax receipts)
and 6 years of that were supposed to be good years according to the Government.

So come next April, do you really want more of the same?

Expand

If the Libertarian mugs in Melbourne and elsewhere with the asses (metaphorically)
out of their trousers and their politically exploitive puppeteers had a modicum
of intelligence they would be devising economic plans to ensure Australia's
independence into the future, not sparring at our local police & world powers
overseas.

Perhaps we need to resurrect Dostoyofsky and give him a Government grant
to write an Aussie 21C version of "The Idiot" !!!
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