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The Forum > Article Comments > Recent economic management in Australia has been abysmal, and a reckoning awaits > Comments

Recent economic management in Australia has been abysmal, and a reckoning awaits : Comments

By Brendan O'Reilly, published 9/8/2022

With the economy now suffering excess demand, one has to ask why the Commonwealth and nearly all the States have recently brought down budgets with roaring deficits.

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The answer to the second paragraph is simple: incompetence, stupidity and unfitness for office by those responsible, elected and unelected.

Third paragraph. Dozy Australian voters 'rebelling'. No chance of that. They are responsible for the no hopers in the second paragraph. Perhaps if our ridiculous voting system was amended to include a primary vote to pick possible candidates, and not leave it to parties to put up their faithful dogs, things could be different. But there is little chance of that in a country becoming less democratic all the time, before the eyes of the drones - if they opened them to see.

Never has the saying that voters 'get the government they deserve' been more appropriate.

And, there is no point in harking back to 2008 and Rudd, as this author does. All politicians are Ruddy these days. And yes, Covid spending and just about all the things done in its name by panicking politicians on the advice of one trick ponies in the public service did a lot of damage; but, the real problem now is the pagan belief that the climate can be changed by our low-emitting, relatively insignificant country, if we make grand gestures to the rest of the world, while the big emitters (if CO2 emissions really matter at all) go on increasing their economies using our coal and gas while we wreck our own economy with massively subsidised and unreliable wind and solar.
Posted by ttbn, Tuesday, 9 August 2022 9:33:22 AM
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I don't see much merit in the article, but lots of political posturing and finger pointing. Critigue without posing another logical alternative/workable solution. This is the same sort of garbage economic rational that turned a manageable recession into the Great Depression. We must spend on income earning infrastructure like spending was going out of fashion if we are to draw down the coalition's massive debt.

Yes there was a lot of wasted money flung around like a drunken sailor by the Morrison government. Labor has no choice but to spend. But it needs to be very focused and create an intended outcome. That being massively expanded economic growth! There is a recipe, but it has thus far seemingly escaped them? And they cannot get past the idealogical imperatives that chain them to (ball and chain) garbage in garbage out outcomes.

Our best economy was in the fifties and sixties and at that time we produced steel that was over 40 million tons per. When we were the third wealthiest nation on the planet and a creditor one at that! WE've all but sold our economic sovereignty since then.

Today we make almost as much as we did at the start of steel making in this country and export iron ore then import almost all our steel. Why? because steel making requires lots of CHEAP energy for the massive arc furnances that turn pig iron into steel!

And that ain't going to happen with renewables strapped to batteries and or pumped hydro! Nor grow an economy that will draw down debt! NOT IN A MILLION YEARS!

What will on both counts, is MSR thorium. And that needs a change from a coal-fired economy to a (MSR thorium) nuclear powered one, like yesterday! And I can guarantee (a chained and shackled) Labor will need to be forced kicking and screaming to that, we'll die in a ditch first, position!
Alan B.
Posted by Alan B., Tuesday, 9 August 2022 10:42:23 AM
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If only we had Brendan O'Reilly managing everyone else, what a paradise society would be.
Posted by Cumberland, Tuesday, 9 August 2022 1:08:48 PM
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Off Topic: TRUMP

TRUMP for President in 2024?!.

http://www.theguardian.com/us-news/2022/aug/08/trump-pentagon-generals-nazis-second-world-war reports today

"Trump wanted Pentagon generals to be like second world war Nazis, book says"

"During his time in the Oval Office, Donald Trump wanted the Pentagon’s generals to be like Nazi Germany’s generals in the second world war, according to a book excerpt in the New Yorker.

In an exchange with his former White House chief of staff John Kelly, a retired Marine Corps general, Trump reportedly complained: “You f-cking generals, why can’t you be like the German generals?”

Kelly asked which generals, prompting Trump to reply: “The German generals in World War II.”

According to the excerpt published by the New Yorker from The Divider: Trump in the White House, by Peter Baker and Susan Glasser, an incredulous Kelly pointed out that Nazi leader Adolf Hitler was almost assassinated by one of his own generals.

“No, no, no, they were totally loyal to him,” Trump replied, apparently unaware of Claus von Stauffenberg’s plot in July 1944 to kill Hitler with a bomb inside his Wolf’s Lair field headquarters.

Kelly reportedly told Trump that there were no American generals who observe total loyalty to a president. Instead, they swear, like all military personnel, to “support and defend the constitution of the United States against all enemies, foreign and domestic”...."

MORE at http://www.theguardian.com/us-news/2022/aug/08/trump-pentagon-generals-nazis-second-world-war

Trump today is still odds on to win the 2024 Presidential Election http://www.sportsbet.com.au/betting/politics/us-politics/us-presidential-election-2024-5479667
Posted by Maverick, Tuesday, 9 August 2022 1:12:41 PM
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Oh good. Someone trying to sell a book claims Trump said something that can't be proven, verified or substantiated......version 47.
Posted by mhaze, Tuesday, 9 August 2022 3:37:04 PM
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True

Mein Führer Trump is the greatest, always misunderstood by the commies of the ABC and FBI

http://www.abc.net.au/news/2022-08-09/donald-trump-mar-a-lago-fbi-raid/101314008

Heil Trump 2024!!
Posted by Maverick, Tuesday, 9 August 2022 6:34:32 PM
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