Some salient points int this article...

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MacBain

245 Posts.

30/04/15

17:10

Post #: 15191956
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Some salient points int this article

the mining boom is over;

after a twenty year bull run, Australia must make a structural adjustment to preserve its amazing gains;

the primary adjustment required is that we need to improve our competitiveness. After successive booms we are very expensive on all fronts and priced out of many markets;

that repair is a national priority and must be engineered via shared and commensurate sacrifice;

the three major goals are to dramatically lift both labour and capital productivity, to lower the Australian dollar and to rebuild non-mining exports;

if we act together then our prosperity can be preserved and then grown. If not, standards of living will fall.

Any number of policies can be enacted under this narrative:

land reform to improve housing and land affordability;

macroprudential and capital controls for the same reason;

infrastructure development and Budget repair around better directed spending, and

tax, innovation, competition, Federation reform etc.

Expand

http://www.macrobusiness.com.au/2015/04/save-australia/

But all Australia gets from the captains are slogans for bogans e.g. 'debt and deficit', 'open for business', 'Labor's mess' and the new one fresh off the propaganda spin machine, 'declining deficits'. Maybe they can get some cash back on 'budget emergency', it's done a few kilometres but is just sitting in the driveway not being used much these days.
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