there's only one massive hole in this theory EBULL.. yr on the money about idiots but not about distribution of income / wealth
(by the way I do not condone simply matching wage rises with inflation.. nothing could be more absurd but that is the standard of economic debate these days )
the hole in this theory EB is that upper class and asset class welfare dwarfs the pittance handed out to the lower echelons..
furthermore, the lower echelons have actually in real terms suffered a -ve asset shock over the last few years borne out by ABS stats and the most interesting aspect of this is that they didn't have the income / savings / assets to actually meet that impact, so where did it come from ? (hint - bnpl / cheap loans / beg steal or borrow from pretty much anywhere )
the kicker is that the top quintile have barely been touched, somehow able to maintain a savings rate at a whopping $110K per year.. there, my friend is one of the root causes of front facing price inflation..
so the facts really do bear out, that the lower echelon have literally taken a basting, while the top end has waltzed through
and if you live in a tourist area like I do, it is clear that from the level of luxury car driving, latte sipping, airbnb filling and furthermore, renovations to just about everything, there is no cost of living crisis at the top.. they are spending like there is no tomorrow
traditional conservatism is about austerity and values .. if the LNP can tap back into that, they're in with a chance.
ALP almost got it right with the austerity narrative but then they went and decided the voice was a good idea, the arts needed massive funding etc etc.. It takes a quality politician to sell austerity and we don't have any of them here
