The elite have no clue about Australia’s real problem

Friday, 6 February 2015

From Chris Richardson via the AFR:

After the Queensland election every political strategist will be telling both sides to batten down and not do anything – because doing something runs the risk of losing votes. Shame there’s still a country to run.

…So yes, (1) things are bad, and (2) the politics of the moment means they’re likely to get worse. We are back to deficits as far as the eye can see.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.