The economic model of monetarism and minimal government intervention has twice been proven to be broken. GFC and Pandemic.
If a model cannot function in times of duress it needs to change for the better. Australia, with $20+ trillion of resource in the ground is probably the best or one of the best to change the model and do well quickly.
This means taking much of the list you have drawn up Scott, and putting in place an almost opposite structure. You cannot run a Nation with no Gov. intervention. SloMo is touting “Can do Capitalism” The bloke is a total moron. If he takes one good look around he will see potential failure, your list, everywhere. Why?
Because the LNP fell for a line and now use it as a mantra. The Chicago business school spin a yarn with Harvard and the rest is history - Reagan and Thatcher let them in and that was it.
We are giving the LNP a go because of things like Negative gearing and the fear of letting go. And we dall for the LNP rhetoric that business needs to lead the way.
That is of course total BS. When the GFC hit the whole shebang should have been left to run its course. But we didn’t have the bottle. If we had the second bailout would have been unnecessary because much more stringent monetary controls would have been in place.
One thing is sure, downstream of here, a generation will take a massive hit. You cannot keep printing money. There will have to be an agreed reset and the power has to be taken away from the banks.
But they pay for politicians don’t they? How many go into cushy little numbers post service?
The whole LNP / ALP set up is set up for failure, maybe not today or in two years. But it will fail. GFC (nailed the banks completely) Pandemic (a real wtf moment and monstrous money printing by the central banks) and who is picking up the tab? The RWNJs on here? Or potentially their generations below?
It just shows what kind of society we actually have. All Me, me, me. And in response to the CBI comment about don’t we all vote for self interest? I would rather vote for something substantial and tangible with respect to our future. Not some dumb shit, Ill conceived and poorly executed and then have some half wit PM tell me what a great set of economists they are.
