Turnbull reckons Aussies are dumber than Yanks

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Weird this:

Prime Minister Malcolm Turnbull says income inequality in the US is responsible for the rise of Donald Trump, acknowledging the outlandish billionaire has the Republican nomination “in the bag”.

Mr Trump will be the presumptive nominee at the party’s July convention, following an emphatic victory in the Indiana primary which forced rivals Ted Cruz and John Kasich out of the race.

Mr Turnbull said anger over real wages, which have shown little to no growth in the US for decades, contributed to the New York businessman’s success.

“It does look like he’s got it in the bag,” the Prime Minister told Triple M radio. “There is a real sense of disappointment in middle America with the very slow growth in middle incomes.

“Income equality is a big issue in the United States, we have much more equality in incomes in Australia because we have a much better targeted social welfare system.

Then again, maybe not. We know PM Turnbull has a good analytical mind and realises that the same inequality is at large in Australia, only in assets and taxation rather than income, because he’s told us so.

Yet his own election campaign runs contrary to this insight, so we are forced to conclude he is bluffing his way through here even as he observes the rise of Trump over there.

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That is, he reckons Australians are a lot more stupid than Americans.

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.