The Forum > Article Comments > Here are some alternative facts - not fake news, but quite bad > Comments
Here are some alternative facts - not fake news, but quite bad : Comments
By Tony Makin, published 15/6/2017Few economists ever draw the link between Japan’s decades-long economic torpor and its public debt mountain.
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China is already in uncharted territory, with trillions in debt and at least twice the GNP!?
Our government debt is not that bad, although we might be hard pressed to stimulate an economy heading south due to another GFC?
Of real concern for us is, record and exponentially expanding foreign debt and all but matched by record domestic debt! All while the domestic economy is being effectively strangled by massive unaffordable energy and even more unaffordable housing!
So what can we do? Well we could and have upped defence expenditure/ship building, which is a useful start in the right direction. If but the tip of the proverbial iceberg, of things we could and should do to inoculate ourselves from the unrepayable debt created crisis building around the world?
If we have any other choice but to reengineer the economy with cheaper than coal power, it escapes me.
Cheaper than coal thorium in walk away safe molten salt reactors would allow competing co-ops to bring the price of power down to less than 3 cents PKH!
Which would make already economically viable as irrigation water, new age, deionization dialysis desalination even more massively affordable! Thereby among a suite of new myriad possibilities, turn vast deserts into our most productive food and fibre producers.
Couple the massive economic growth that'd accrue/create, to genuine and massively simplified tax reform and we'd have the energy dependant high tech manufacturers/well heeled self funded retirees of the world beating our doors down to relocate here!
What we need and seem unable to find is a Lee Kwun Yu type visionary (Tony Abbott perhaps [LOL ROTF]) at the helm and ensuring our potential, becomes our literal (cooperative capitalism) reality.
Can we afford to pay for this economic miracle?
Well we do have a two trillion dollar super fund, invested anywhere else but here! And all but sums up traditional capitalism's view of our straitjacket restrained, economic potential?
Alan B.