Is the Australian economy screwed no matter which party is in power?

The Australian economy was screwed at the end of the 1990's when all industry and production was off-shored in the name of Globalisation, when communist China became a legitimate economy, international slave labour was allowed to become a competitive force and the race to the bottom commenced with the rise of the "service" economy and the financialisation of all assets and their derivatives became the easy way to generate wealth.

But relative to other economies we are in pretty good shape because we still have some primary industries that are productive, so its not so bad. Because real wealth and new economic value are not created by the financialisation of assets or servicing that which already exists our relative prosperity continues, but without the creation of new and original products that generate value added exports we will continue to be "screwed".

That "screwing" will be slow and extended, however, as the productive industries and assets are slowly sold off in an utterly hopeless bid to pretend that the level of welfare maintained and supported by deficit spending is sustainable. The politicians will slowly suck the life out of the economy until some existential crisis manifests and we experience a step-change of some fashion. Until then it will be a slow grind generally, but not without opportunities for the astute and creative. Those of the "bunker" mentality will continue to be herded like lambs to the slaughter through low interest rates and rising costs of living.

...but at least we can rely on the career politicians to get the important things done, like endlessly debating Gay Marriage and whether the government has a mandate to hold a plebiscite or not!

 

we are still living off of the reforms of the eighties and nineties. If the current crop of pollies don't get their act together soon then that capital will be all used up and any future shocks will really hurt the country.

 

This popped up today. thought I'd beat silverpete to the punch again.

http://www.smh.com.au/business/the-...-bomb-says-td-securities-20160830-gr48i3.html

 

Well its the oppositions job to oppose so I think the government needs to sit down with them and thrash out exactly what can be done. I don't think they can be expected to just sign off without some serious input. Super is an example. Labor don't like the retrospective nature of it which seems to be a fair position to take.

 

They are not really "forced" to continue borrowing by some coercive external power. The decision to borrow and spend comes from their own desire for power as you said. And that's the problem. The prime objective of the two major parties is to gain power and stay there rather than offer the electorate real alternatives on how the nation should be governed. If the electorate turns against your policies, then so be it and better luck next time.

But what we have is parties who aren't really much different anymore and who are so focused on power above all else that they can't stick to any fundamental differentiating principles. Worse, the lust for power over the people drives them to grow the nation's security apparatus, and to introduce laws to shield themselves from transparency and accountability.




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yeah, with this lot politics is more important than the well being of the country. both sides are playing wedge politics. I didn't make my point about the super changes clear. I think the governments proposal is designed specifically for the opposition to shoot down. They don't really want the changes to go through.

 

No. They are not being forced, they have succumbed to their desire for power and voluntarily chosen to abandon traditional liberal values in the belief it will help them maintain their position of power over the people.

To justify the government's actions in that way downplays their level of culpability. If you deny personal responsibility then you might as well say a shoplifter can't be considered accountable for their actions since they are "forced" to steal in order to have a new Louis Vuitton handbag.

 

That was an amazing piece of political philosophy mmm....shiney! I feel enlightened after reading it. Same for spacepetes comments.

 

Just like Midastouchofgold I'm amazed.. That we agree on something at least!

 

"If they don't pander to the squeals of special interest groups, retarded economists like Richard Denniss, the Unions, crony capitalists, their own back benchers, churches, ACOSS, the media, entitled cretins in the electorate that think the tooth fairy brings prosperity and we all have to share the pie of wealth equally etc etc then they lose their job."



ALL of the above can be satisfied quite easily, simply borrow the money. Komrade paul proved that, remember the AU$96 BILLION? That is chicken feed now!

OC

 

+1

 

+2

 

Stimulus is the crony capitalists (and socialists) best friend, because you get to spend a whole bunch of other peoples money and grant contracts or benefits to your mates. All the while you have political cover being able to claim that it's "in the best interests of growing the economy"

Open your eyes people. Until the gen pop realize the scam then nothing is going to change.