Bazz you are right on the money with cheap energy, and that's not coal!

We have much cheaper options and will remain so only as long as they remain in public hands?

Nowhere can I find so much as a single example of privatisation resulting in lower power prices, better maintenance and reliability.

As alway we have those who say our energy is too cheap. Even though it was the principal reason for our era of post war productivity and unprecedented prosperity!?

At which time we were the third wealthiest country and a creditor one at that.

Cheap energy, could include solar thermal power using endless free energy and done on a large enough scale to require automation in the manufacture of the solar array, is one example, cheaper than coal thorium could be another( we are waiting on the Indians to roll out a working prototype that generates some 300 MW. in 2016)

Then there is local innovation that sees a two tank system create enough biogas, from the average families biological waste, to power their domiciles 24/7.

Replace the usual diesel engine with ceramic fuel cells and scrubbed biogas; and you all but double the energy coefficient, and at around 80% the best in the world and creating a salable surplus of as much as 50%?

The endless free hot water is also a cost saving, and given the combined savings, money that has been diverted from our combined discretionary spend, put back or into savings or personal debt reduction or healthy consumption? All good things?

Now, given every western style economy rest on just two support pillars,energy and capital, the other parts of the success equation must needs include real and long overdue tax reform, and couple that to a brand new people's bank; so as to give those poor redundant tax practise number crunchers a brand new, more lucrative and vastly more productive career pathway/wealth creation opportunity?

Growing a bigger economic pie is the answer, we just need a good recipe and competent politicians at the helm, and working cooperatively/exclusively for the national interest!

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Geoff mate, I have actually stated that some debt is useful and or productive, when used for productive purpose.

And heaven forbid, even agree with Aidan, that it can be raised internally and just with the stroke of a pen!

As for tax reform, my proposal is to simply jettison the entire can of worms we have at the moment; inclusive of regressive fuel tax and even more regressive ubiquitous and cascading GST; in favor of one only, single, stand alone, unavoidable expenditure tax, collected as money leaves accounts. Meaning in the first instance small business can stop being unpaid tax collectors; and in the second, the ultra expensive ATO can be largely disbanded?

This would make some very "creative accounting"impossible, like the old favorite of having the same sum of money chase itself through several subsidiaries to create an impression of quite dramatic cash flow or outgoings, depending on whether it's done to fool bankers or the ATO.

Even so, this chasing it's tail money needs to enter and exit accounts to create a completely false impression!

Given a modest unavoidable expenditure tax as the only tax impost!

Not an extra impost as some of my "Admirers" would have the rubes in the room believe, just makes such creative accounting impossible and or extremely costly!

And given it is applied exclusively as money leaves accounts, even collet from remittances and offshore transfers! Thereby making nonsense out of tax havens and multinational tax avoidance!

Little wonder I'm attacked at every opportunity by the money men and their special mates, absolutely affronted by the very idea of having to finally pay a fair share or just a share!

I think we face an even worse GFC, which we, if we just use the brains we were born with, can avoid.

Albeit, not with most current policies nor intellectually crippled idealogues given to bare faced denial, total reliance on others and unable to think outside the square!?

Thinking within a fixed circle of ideas, limits the questions, and if the questions are limited, so also are the answers!
Rhrosty.

Rhrosty, I tend to agree with you, it's the vested interests alright.
Cheers Mate
Geoff

Bazz,

"No one seems to be pushing a scheme to get the economy back to its
late 1980's to 1990's parameters."
With good reason: inflation was a big problem in those days, and interest rates were so high they deterred businesses from making long term investments. We should aim to improve the future, not replicate the past!

"Few of us are offering firm techniques to fix things.
Does this mean no one is sure what the hell to do ?"
Solutions are often dismissed out of hand because they contradict the economic myths that most people assume to be true.

The main cause of the trouble isn't anything to do with energy; it's lack of spending. Right now the private sector are reluctant to borrow to spend because they're not confident that doing so would be profitable. And governments are under the false impression that their deficit spending is a bad thing.

We can get cheap energy from solar and wind, but cheap energy alone won't solve the problem.

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Rhosty,

It's misleading to cal the GST "cascading". Unlike what you propose, it's only applied once.

Not only would your tax plan be less lucrative and more economically damaging than the GST, it would be easy to avoid by keeping money in overseas bank accounts.

Support free trade: tax profits not transactions!