The Economy and the Adults are in Charge syndrome

Originally posted by Scarpa ↑

So lets be frank, will the Adults in Charge (and those imbeciles known as the ALP and lets not talk about the Greens) realise this fundamental outcome of COVID-19 in what needs to be done going forward. What needs to be done is ditching the pure laisser faire economics approach the way Australia has been implementing it last 30 years, and returning back to some form of understanding around the long term benefit of investing in iconic infrastructure and developing a manufacturing industry in Australia.

Even the land of the free, protects its industries. So, you are still in a capitalist system without been an idiot and giving all your high value adding industries away to other countries, and then waiting on them to help sort out worldwide issues for you when things go wrong. Look at COVID-19: Relying on other countries to give you face masks, ventilators, medicines, the list goes on etc etc.

Australia use to be self sufficient in a number of things until pure laisser faire economics took hold here and destroyed a number of our industries on the path to globalistion. I suspect a number of world wide governments would be re-evaluating their viewpoints on globalisation too IMO.

In terms of the budget, well it will be shot and I see that the Adults in Charge have been throwing money around just like Rudd did during the GFC (but not as targetted as Rudd in trying to stimulate economic activity - whether you like school halls initiatives back then etc provided immediate work in the now, not some supplement to the dole which many will not spend IMO or business offsets that might not do much in the now because the only thing that matters is stimulating the economy but at this stage the economy is been shutdown, so where do you spend your money right now??, and whether its heart can be started quickly or not is another thing once COVID-19 disappears).

I see many of the posters on here who use to give Rudd a serve are been quiet of late too. Also, ditch the $100 billion submarine program you fools and use that money wisely. Time will tell whether Morrison's measures will avoid a deep recession in Australia or not when COVID-19 is brought under control.

And before anyone yabbers labour costs, just be mindful for a number of manufacturing processes in high end markets the main cost is electricity not labour at all. If need to understand that refer to Post #: 32576995

All IMO

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lets be honest here

none of them know what they are doing and in any case are simply dancing to whatever tune the imf, world bank and bis are playing.

we are not our own masters and havent been since the commonwealth bank lost its charter

Originally posted by Verminski ↑

I’ve said this a few times but I can only see one way out of this.

Time to reset the agenda and get on with managing Australia. I agree with your post above @Scarpa and would add the following:

1) It is time for those Australian parties to front up and be counted, now is the time to earn the will of the people.
2) Liaise with the big miners to coordinate future contracts in Iron Ore and Coal (Metallurgical) and inwardly invest.
3) Set up internal steel making process on the East and West Coast. Put in place the railroad across the country to transport coal and iron ore to their respective steel making facilities on both coasts.
4) Put in place program of development around the new multi-modal railway and connect up tourism coast to coast (North) integrate with freight (coal / iron ore / commodities / consumer freight)
5) Invest in the new High Speed rail from Sydney to Melbourne and plan for expansion to Brisbane and connection to the Northern multi-modal system.
6) Stricter FIRB conditions, limit Foreign influence in Australia. Investment yes, buying critical infrastructure and agricultural output - no.
7) Set up liveable areas (townships) where still making is developed, put in lifestyle/essential services and link with tourism and other services)
8) Coordinate new technology and invest across the board, link in where possible with resource profile and integrate.
9) Continue to develop Sydney / Melbourne and develop economic areas based around key resource in SA (uranium)
10) New outlook on defence - go nuclear, de-risk interference from the big neighbour up North.
11) Begin to develop and carefully manage the water. With new schemes where possible across the whole tropical North. Itemise areas for outputs according to what can be achieved agriculturally or for tourism or other coastal development. Work in planning for education, technology and utility supply and services.
12) Do the above as a coordinated national plan based on state/federal interaction and planning. Short, medium and long term plans to be drawn up.
13) No more rorting immigration, critical resource only and stricter penalties for companies who flout the rules.
14) A more stringent tax policy for companies. Time to pay the fiat rate. If they don’t pay, take the assets off them and give to someone who will pay.
15) Gas and Oil processing internally. Time for us to do our own thing.
16) Short term raise in some (Fair) taxes - 15% GST which is a fair ‘what you spend’ tax with review in the longer term. Full review of taxes at all levels both personal and company.

It goes on but the above gives the drift. Time to start over.

Do all the above by beginning with borrowing more. It is the only way. Effort and hard work will be the only way we will work through this. That will also reduce debt in the long term which is where we have to start looking.

Time to work for Australia politicians. All of you.

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Gas and Oil processing internally. Time for us to do our own thing.

not allowed due to the myriad of concords, treaties, pacts, and agreements we signed up to.