Our combined Comm+State+ Muni debt is heading for $1.2 Trillion and we have to be careful that Big Business does not cajole Morrison to lift the GST which would mean Aussie consumers pay; not business.
I'm aware of the Gig MMT Economists claims of printing our way out of debt and/or growing the economy at a rate higher than the interest rate on debt. At this time as we face another 1930s, these are ridiculous propositions because, with all probability, our economy will be in recession for years.
Even if we there is a virus vacine found in the next 2 years, the US/China economic war will cruel our expports until such times that we find alternative profitable markets for our food, mineral & energy exports. Some on these threads have suggested that India can replace China as our prime export market but India is far from being sufficiently industrialised to replace China for at least 2 decades, IMO.
IMO, our best economic plan should be to industrialise, diversify our exports, add value to our exports, provide Aussies with better job opportunities, ban outsourcing of labour to overseas call centres ( we have massive unemloyment here now) accrue massiv trade surpluses & stabilise our AUD.
It seems stupid to outsource our economic planning to multinationals and big business that control our economy when their prime motive is to "Make as much Money as they can" even if that meand sidelining Australia's national economic welfare.
