We don't need anymore Global Governance Tony. We need sovereign States who can create their own new money for growth free of private central banks such as the US Federal Reserve and the Bank of International Settlements.

I'm reading that China has now a $24 trillion debt bubble which could send us into another financial crisis. I suspect your Govt knows we are headed into more troubled times because you Govt has increased the National debt ceiling to $500 billion.

We should never have sold off the Commonwealth Bank and desperately need a Glass Steagall Act to isolate the banking,off balance sheet derivative gambling economy,which is 6 times their assets. Our banks are not safe and last year the Commonwealth for the first time refused to disclose it's exposure to derivatives.

This whole article is the PM's Davos address un rehashed.
RE;
"You can't spend what you haven't got.
No country has ever taxed or subsidised its way to prosperity.
You don't address debt and deficit with yet more debt and deficit."

The PM may be an economics graduate but the Davos address shows that he has learned very little since graduating.

The PM needs to read “A Call To Arms,” by Maury Klein. The book is an historical account of the U.S. mobilization as it prepared for, and engaged in, war with Germany and Japan.

The scale of the task was unprecedented in human history — and the accomplishment of it changed not just the structure of the American economy, but American society as well. What is striking about the story — and the monumental effort to quickly build, virtually from scratch, the largest and most sophisticated war machine ever to exist on the planet — is that there is nary a peep of concern or argument about how this enormous task would be paid for.

All of the anguish and struggle had not to do with finding enough “money” to pay for things, but rather with finding enough things to buy — and enough skilled labor to properly marshal it all together. In the end, virtually every real resource available in the continental U.S.—oil, gas, steel, aluminum, rubber, copper, sugar, tin, and man-hours of labor—was purchased by the Federal government to build the Army, Navy, Air.

The comment above is an extract from an article on the book and subject by J D Alt and the whole article is available at;
http://neweconomicperspectives.org/2013/08/mobilization-and-money.html#more-6200

A sovereign government can always pay to employ the resources available in exchange for its currency. The role of tax and government borrowing is to remove excess purchasing power from the private sector when completion in that sector for resources that are becoming scarce is starting to impose inflation.

If anyone wants to argue with this view please be wise enough to read Alt's article first.

Yes lets get back to the really serious hairy-chested business of trashing both civilization (or whats left of it) and the planet too, as fast as we can. As depicted in this stark image.
http://www.dartmouth.edu/~spanmod/mural/panel21.html
Lets not let any of this hippy inspired environmental and/or sustainability crapp get in our way.

Then of course there is the new essay by Chris Hedges titled The Myth of Human Progress & the Collapse of Complex Societies.
An essay which provides a necessary counterpoint to the let-it-rip-business-as-usual message coming out of Davos.

Excellent direction to be heading, a big ask at the G20. Keep pushing for the development of the north and please, please, DO something about 'our ABC', the Yarts council, the warped school curriculum and the 'Human Rights industry' (Tim Wilson a good start)
Maintain the parental leave scheme at current levels and hold a plebiscite on gay marriage, if for nothing more than to get it out of the news cycle. Thanks, that was a healthy 'venting'

Prompete, love your satire but a word of warning: you need to make it a bit more obvious that you are taking the mickey lest some think you are being serious.