Australia has a basic economy with very little value-added production. The only thing saving the economy is the exporting of raw materials, and the importing of massive numbers of immigrants, making the locals poorer while padding the GDP for lazy, self-serving politicians.

Australia has also linked its fortunes to Communist China more than any other country. That’s not going to last forever, simply because of the Communist way of doing business and, while Australia can sell stuff to other countries, it won't be as good as it has been with China.

As already noted, Australia doesn't make much for itself. We have been drifting for about 30 years, doing it easy, thanks to the (now slowing) growth of Communist China and its non-capitalist way of doing things - the wrong way.

Things are going to get worse for Australia until we start “processing” as well as digging in the ground. Will this happen? Well, just take a look at what is available for us to vote for!

Then there is our particular home grown “subprime” problem. The US fixed theirs; Australia hasn't. The problem has “festered for the last 15 years”.

When that blows up, a “sharp de-globalisation shock or de-Chinafication would be more than enough to trigger a financial crisis …”.

Australia is not looking at a recession; it is looking at “a depression that’s probably going to last a half a decade. And that’s going to be horrible.”

The source of this grim news thinks that Australia won't be “dropped” because of our close alliance with America. Has he not heard about the Albanese government that couldn't send a ship to the Red Sea to help protect the sea lanes vital to most things we have to import?

As I say, look at what we have to choose from in Canberra, and see how confident you feel.

https://www.macrobusiness.com.au/2024/01/australia-facing-a-depression-that-will-last-a-half-a-decade/

look at what we have to choose from in Canberra, and see how confident you feel
ttbn,
Look at the average post-Whitlam Australian reared & see if you can envisage a future. My guess is that the traditional Australians, apart from the real indigenous, are literally on their final lap as a society. By that I don’t mean complexion as much as mentality !

Indyvidual,

The failure of the Voice referendum indicates that 60% of Australians, and possibly more on other matters, have their heads screwed on the right way when they get the chance to express themselves via referenda. Unfortunately, unlike in some proper democracies, they can't 'recall parliament' via Citizen Initiated Referenda. They are stuck with the self-interested, career-driven nincompoops in Canberra. Good people just don't want to be politicians, and we are stuck with the rabble we have: one big club making the decisions for us.

On the other hand, look at some of the posters here and on social media generally - arguing the toss about things nothing to do with them, and which they can do nothing about, but they are completely disinterested in things affecting themselves that they COULD do something about by making demands of their local MPs and making it clear that they won't vote for the numbskulls unless they get their acts together, and do what the people want: not just look after themselves and their bloody parties.

CIRs are now the only hope for maintaining democracy in Australia. Politicians are not taking any notice of the population; they haven't been for some time, and now their lack of interest in us is blatantly obvious in Albanese and his ministers. But, I suppose the best indication that we have ever had, in the form of Albanese, of our grim future, will be ignored by the apathetic.

ttbn,
I don’t disagree but I can’t shake the feeling that the real threat to this Nation is the average bogan who happens to be the majority. These drugged-up, uncultured coarse gits are unfortunately represented in all walks of life here. The greater number being half-baked BA graduates & not as one would expect them to be among the less educated class. The latter are actually the ones with common sense & street wise. Unfortunately, they don’t get to have a say in anything. Some of the single parents among them would be a hundred times more qualified as economic managers than those useless morons with degrees they don’t even know how they got them.
Australians of every heritage must put aside the nonsense being peddled by these woke “intellectuals” devoid of morals & sense. They must be prevented from ruining this Nation via political correctness etc.

Indyvidual

I think the biggest problem in Australia is the loss of Christianity. No matter how much people deny it, Western democracy is based on Christianity. Things have got worse as people have turned away from it. Journalist Greg Sheridan said recently that a world without Christianity is a dark place. I'm no Bible basher. But I agree with him. The world, and Australia, is getting darker all the time.

ttbn,
Again, no argument but Christianity has never been pure & free of malice & deceit just like other religions because like all religions the focussing on a good personal outcome puts the individual first rather than the whole community.
One of the more sinister undermining tactics is the fostering & pushing of competition, be it sport, entertainment or industry. The focus on effort to out-do sustainable requirement results in oversupply, waste, frustration & excessive annoyance. I for one am just soooo sick & tired of having to tolerate talentless, incompetent egoists at every turn 24/7. Then there is the degradation of quality in everyday life from poorly made commodities to poor service to poor socialising to poor attitudes. Combined, all of this contributes to an ever increasing inferior mentalty.

Indyvidual

We could talk about for years, but the truth is that Australia is rooted like the rest of the West. As with other civilisations throughout history, we have had our time; it was good while it lasted, but we didn't value it enough to fight for it. And up and coming generations look as if they are going to be worse than we have been. They believe in nothing.

We could talk about for years
ttbn,
If we continue there’s a remote possibility of an audience taking in a bit of common sense once in a while. It won’t happen overnight but it could happen !

With the American economy in gradual decline, like it or not, China has become the powerhouse of the World economy, taking centre stage from America. Australia is not even on the stage, and is unlikely to be in the foreseeable future. For all those who bag China, without them Australia would be well and truly stuffed.

I did mention the over-reliance on Communist China, and the fact that the Chinese economy itself is slowing could mean thar Australia is already the proverbial 'dead man walking', and the prediction of depression is on the button.

ttbn
Last year China produced 56% of the worlds steel, the US 6%. Steel production has always been the bench mark indicator of industrialised economic performance. India is growing, but as yet are not a reliable supplier in terms of quality or delivery.

Dear Indyvidual.

Come on mate, why so glum?

News today that inflation is now under the rate it was when Morrison handed over the keys to Albo.

The government is kicking goals right now on a range of measures and we should all be grateful.

SteeleRedux,
Own Goals aren’t quite the same as proper ones !

Dear Indyvidual,

Well they are a far cry from this bloke's goals which seem to be to look after our country's billionaires and their interests by being flown into their private parties to say stuff like this:

“We need to hear more teachers tell the students that the roads, the bridges, the railways that we travel on have been constructed thanks to your sector. Too many of our teachers are telling kids to be ashamed of the fact that their parents work in the mining sector. We need to turn that around.”

He also referred to Gina's own mine as a "national treasure".
http://www.theguardian.com/australia-news/2024/jan/10/peter-dutton-gina-rinehart-pilbara-party-flown-roy-hill-mine-warburton-group

Gee whizz he must make you proud.

SteeleRedux,
Can you point out the differences between the Albo gang flights paid for by the Tax payers & private enterprise paid charters ?

Indyvidual- With the greatest of respect sir. Science is descriptive not ethical nor purposeful nor meaningful- the domain of religion and tradition. I trust bogan's more- at least they are our people- we need to reach out. Drug use is a symptom of loss of meaning, purpose, community.

Young BA Grads seemingly indoctrinated by Anti-Traditionalist Revisionist Locke Liberal Woke Communist Universities that reject the deep ancestral knowledge of the west in favour of denialist nihilism. Sun Tzu says- you take away what the enemy needs they will listen to you. Deneen wrote the book "Why Liberalism Failed" both on the Communist and Capitalist side (Liberalism is essentially the belief that freedom without principles or tradition is the way to govern the world so long as you don't restrict the freedoms of others- Traditional Aristotelian Government OTOH says that freedom is not doing what you want but having self control according to traditional principles.).

But yes the church has become corrupted by wokeness and communism too.
In a sense (Western) Christianity is a concatenation of Roman/ Nordic and Christian Traditions. It is not a modern form of Judeism with an extra messiah. In Nietzschian parlance Western Christianity combines the Slave and Knightly Codes balancing kindness with responsibility- tough love.

ttbn- Kudos sir.
Yes maybe the 80/20 Pareto rule should apply here too. 80% of GNP should be native and X Exports should be at parity or better.
GNP= C + I + G + X (Gross National Product)
where X = Exports - Imports
and GDP= C + I + G (Gross Domestic Product)
C = Consumption
I = Investment
G = Government Spending

But some consumption and investment is better than others. Perhaps a nation can make itself stronger through investment in durable goods rather than consumer goods. Of course leaders need vision in order to understand how this will work.

If houses are more durable less housing workers are required which means there will be more unemployed- how do you manage and create purpose and meaning in society in this case. Cause and effect

I trust bogan's more- at least they are our people- we need to reach out

Canem Malum,
I don’t disagree. A Bogan to my understanding was akin to an indifferent, selfish yobbo. Looks like I was wrong

No problems Indyvidual. Everyone gets it wrong sometimes. You get things right 95% of the time in my view.

I just looked up the definition of Bogan & the one thing I concluded that a Bogan can’t really be defined as either stupid or intelligent but calling a down-educated Leftist a Bogan is the most accurate.
Those parasitic hobby anarchist hypocrite types we deal with on OLO should be given a new acronym, any suggestions ?

Dear Indyvidual,

Mate if you can't tell the difference between a taxpayer funded flight for a minister doing their job and one that is funded by a private individual seeking to keep a politician in their pocket I'm not sure I can help you.

SteeleRedux,
The private one more likely than not will result in people earning a wage, can’t. say the same about a pollie/bureaucrat going to a talk fest & carrying private media hangers-on.

Dear Indyvidual,

Mate you really are a useful idiot for these billionaires aren't you.

Gina gives away free flights to swank dinners she puts on for Coalition pollies and you don't think she expects anything else in return?

The reason we don't have a sovereign wealth fund in this country like Norway is that Abbott went after the proposed mining tax which robbed us of that opportunity. Gina would have deemed the money she spent of ensuring she had the Liberal Party in her pocket to have been well spent.

Now she is doing the same with Dutton and obviously expecting the same result.

And you are here not just defending but applauding her as well.

The sad thing is she doesn't have to buy your support like she does with Coalition politicians does she? Nope, she gets it for free.

Wake up to yourself mate. Gina really doesn't have your interests at heart at all.

The mindless minion needs to smarten up.

Gina really doesn't have your interests at heart at all.
SteeleRedux,
I have no trouble believing that. What does trouble me though is the parasites ruining the Nation yet accusing employers of doing so !

Indy,

We do have a sovereign wealth fund set up by the coalition from 1996 to 2007. The reason we don't have the idiot mining tax is mostly because it costs more to collect the tax than the cash collected.

Shadowminister,
There are a myriad of taxes & most are designed to help those making big money to make even more money. Big business does invest in employing people but big salary bureaucrats do not contribute to the economy, they exploit it.
They’re the ones who have become unaffordable for us to keep. They numbers need to be reduced by natural attrition & not replaced anymore via the Peter Principal. No merit, no job !
Too many bureaucrats doing nothing for big salaries. Reduce Bureaucrat salaries & freeze wages, it’s the only way Australia can become competitive.