Wealth redistribution without regard to who has to pay, or when the bill will come due. Is this anything more than corporate welfare? What a pathetic bunch we are that these people think nothing of crying louder to continue sucking on the teet of government. Why don't they put up their own money and build their own projects if that's what they need to make a profit? Could it possibly be that there is no financial justification in any of these projects? Are they just calling on the government to keep spewing money on them for digging big holes? What a joke, they just do not understand and do not care that there is a point of debt saturation. As far as they are concerned the government is there to keep them in business. How far have we fallen when these infinite stimulus arguments are listened to by supposedly serious and rational leaders of men? But its an election year! I guess the welfare recipients might not vote for labour nationally if Swanny doesn't keep them in the manner to which they have grown accustomed.
It's going to cost labor/the taxpayers a lot to bribe enough welfare suckers to vote labor in again. I'm certainly not a liberal fan either, but I'll be voting for them in September only to keep labor out. At least the liberals are more traditionally likely to cut welfare spending rather than tax but I don't really hold out much hope.
It's only productivity increases and a temporary boom that is covering up the fact that the Australian economy has stalled imo. The truth will become apparent at some point. So much of the economy all over Australia is government spending. Especially here in Perth where you have basically 2 industries, mining and government, and of course govt feeds off of mining. Any kind of mining slowdown, not even a bust, is seen as potentially disastrous and everyone is putting their hopes in a never-ending Chinese boom without realising that China has effectively finished industrialising. It doesn't take long when you have a few hundred million workers.
There is no private sector investment in Victoria, companies wont go near there because of the unions militancy, the last major job was the Victorian Desal Project and that was a PPP (Public Private Partnership) disaster. Leightons are still writing down the losses sustained.
That's it. Without any other industry the dependency on the value of the Australian dollar for the financial success of the Resources and other primary product based export industries is the elephant in the room. The RBA has to push the AUD lower to keep the welfare state afloat. IMO, it's becoming that simple. The manner in which the wheels are falling off is becoming increasingly clear for people (who are not medicated) to see.
Every time I think of these private/public partnerships, I want to vomit. Although I am sure someone on this board will try and point out a few of these public/private projects that didn't turn into an absolute cluster ****.
