Some interesting for and against points here Chris. Some which I agree with and a few I don't.

First of all, I never agreed with Voodoo economics of floating the dollar but preferred the more rational gold standard that served us so well as we came out of the Great depression and a post-war period of unprecedented prosperity! Where we became the third wealthiest economy and a creditor debt-free one at that!

And a position dismantled by "reforming" neo-liberals/economic illiterates, since the seventies! As they squandered mining booms, 1+2! And tied our fortunes to an imperialist, expansionist China even as they condemned their deplorable human rights record as they turned the usual blind eye to much the same here?

The problem with the lessons of history? Nobody seems to learn the or doing what you've always done while expecting a different result represents?

And as always reject cooperative capitalism and a sane way out! In favour of latter-day voodoo economics, with its derivatives and the emperor's new clothes, pass the parcel get rich quick, Ponsi schemes, crypto coin, etc-etc.

[ Time to take the whip once more to the money lenders who defile our temple!]

Times do change, but successful tried and tested economic fundamentals, like thermodynamics or aerodynamics, never do!

Take care and stay safe.
Alan B.

The highlight of the article was the idea of a national service for young fellas. Shoot bazookas not heroin.

Tax capital gains and redistribute the windfall to personal savers, circumventing the lack of incentive to save with current unrealistically low interest rates.

Debt is a killer.

Dan

unless things change drastically I doubt whether anyone will have the political will or support to do what is necessary. To many beholden to interests. No one dare take on the golden calves of totally bloated State and Federal Governments let alone the abc. No one dare take on the unis who offer countless useless degrees which along with Turnbulls book could only be used for dunny paper in shortage. No one with the courage to rip up useless agreements such as Paris which cripples productivity with no gain except to the charlatans making billions by hiking Australia's power costs. Spending now and paying later while virtue signalling one's moral superiority has become the everyday lifestyle of the majority. Chickens are now coming home to roost. Really any responsible Government in the last 50 years would of saved. Liberals tried but not very hard. Labour/Greens are incapable of not spending other peoples money. It is in their dna. God help us whenever and whomever we borrow money from want to be paid.

runner: Turn off that record player and change the ceaseless broken record rhetoric.

It will not be the entirely impartial and Apolitical ABC or indeed the unis with their socialist cohort that'll slow any recovery! But those entities that Jesus whipped from the Temple.

Or the modern-day equivalent, greed is good, robber barons!
Those who claim to be paying most of the tax, e.g. but so arranging their financial affairs to reduce it to 15%. While the hard-pressed single mum has to fork over 30%

[You should read Dan's quote in the other thread, if only to assist understanding?]

Or when the economy takes a hit for whatever reason. Evocate to socialise their losses and privatise the profits!

Others who believe they're more important than the next guy and should continue to receive privileged treatment!

And want to resume the business as usual Rip offs and our self-destructive over-reliance on a dictatorial expansionist China/business as usual and globalisation.

I get that you don't have a clue about economics or that every western-style economy rests solely on just two support pillars, energy and capital!

If you had your druthers, we'd return to the stone age and start persecuting folk who had the misfortune to be born different! And as you turn your blind eye, just increase their undeserved pain!

You can keep bearing false witness till the cows come home! But that won't assist the intended recovery!

But will accrue a debt that will decide your eternal fate. I wouldn't be in your shoes for quids when you have to face your maker and account for your actions and evocations, and the harm that led to! You cannot own your own facts!
Alan B.

As I said elsewhere, our governments will restart the economy by bringing in millions of cashed up Chinese.

They have been doing this for the past 30 years in order to keep the Australian economy afloat so just increase the numbers of migrants from China but instead of hundreds of thousands each year it will be millions each year.

I suggest 10 million in the first 5 years and one million each year thereafter.

It's the people driven type of economics that in particular the NSW government has been using: numbers drive development and growth. It has basically doubled the size of Sydney over the past 30 years.

Unfortunately the Wuhan virus has in just over a month undone all the growth and development accrued from bringing in cashed up Chinese and Chinese capital over the past 30 years.

So I think Australia's future looks like being one of higher taxes for generations and a whole lot more Chinese.