Get gloomy or fail, Malcolm

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The Australian elite have fully embraced pop-psychology as their primary economic narrative and if it continues it will sink the nation and its new government. New examples appear every day with the drover’s dog telling Malcolm Turnbull to be “positive” and repair “confidence”. To wit from the AFR:

It is not going to be the all West Australian AFL grand final the state’s Premier was hoping for; but nonetheless, Colin Barnett says it’s been a good few weeks in an otherwise testing period for the resources-rich state.

“It’s been a pretty tough time and a lot of people are worried about their job security,” the Liberal Premier said on Sunday.

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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.