Does Australia need Revolution?

The MacroBusiness moniker, Reynard the Fox, represents why the blog exists. Reynard is an archetype of the “trickster”, the joker or court jester who cuts through the hypocrisy of the day to tell the plain truth. Crucially, it is done from the inside. Reynard is not a rebel or revolutionary, he is a satirist, an inside outsider that describes the world the way it should be to expose the world we have for what it is.

That spirit drives MB. We didn’t set out to turn Australia on its head, or tear down its institutions. We are reformers not revolutionaries. We may not exactly get inside the tent but we certainly turn up at the circus to piss on it from the outside.

Thus, we didn’t set about becoming a chronicle of Australian corruption. We just did our jobs and that’s what’s been exposed by the Reynard ethos. We knew the corruption and degeneracy was there but it’s depth and breadth has astounded. And in truth it has worsened dramatically as the irresistible truth of its own existence has been revealed and thus threatened.

From Parliament House it extends right through state and local bureaucracies. It dominates an over-concentrated business sector which now dedicates huge resources to manipulating policy to preserve economic rents. It extends right through the media, which is now hooked to a life-preserving drip of real estate advertising.

It exists in myriad forms but perhaps most pervasively and deeply as an idea, an identity almost, that Australia is exceptional, that nothing can stop it, and that all of the very obvious imbalances that are destroying it are nothing more than the dark imaginings of disgruntled lunatic fringe.

That idea was captured beautifully yesterday when one of the High Priests of Australian Exceptionalism, the Governor the Reserve Bank of Australia, ostensibly spoke earnestly in defense of workers:

When any of us feel like there is more competition out there you’re less inclined to put your price up. People value security and one way you can get a bit more security is not to demand a wage rise. Firms act like that and workers act like that.

Productivity growth tends to come in waves, and in the optimistic interpretation we’ll see another wave some time not too far down the track.

A second factor is that workers feel like there are more competitors out there, they’re worried about the foreigners and the robots.

Hopefully running for a few years now with quite tight labour markets [will be] re-energising workers to get more of the labour share.

At some point, one imagines that’s going to lead to workers being prepared to ask for larger wage rises.

Here is what Phil Lowe is discussing, disappearing living standards. No income gains for six years:

Falling wages for the first time in modern history:

Despite good productivity gains:

 

An unprecedented stall in per capita demand:

 

 

A far worse growth performance than any previous recession:

 

And output growth per head:

Are these problems the result of workers not having the gumption to front up for pay rises, I ask you?

No, they’re not.  The charts above are the result of broken economic structure and policy that is only making it worse and worse. That structure is obvious. It has been described over and again at MB year after year:

  • an over-reliance upon commodity export income;
  • an over-reliance upon leveraging that wildly volatile income in global markets to feed the housing bubble which supports demand, and
  • an over-reliance upon the Federal Budget to guarantee everything when either the income dries up or debt gets more costly.

All of the traditional building blocks of sound economic structure are missing from this model. The entire thing is singularly designed to destroy productivity growth as labour efficiency is outweighed by capital mis-allocation. It implicitly offshores ownership of assets. It has a chronic reliance upon high current account deficits. And it hollows out every non-mining tradable not bolted down, substituting export income with offshore debt.

It is now not so much an economy as it is a fiercely protected banking and resources rort that systematically denudes workers of income and rising living standards. It is a rampant class war that includes mass immigration, systematic visa rorting, hollowing out, wholesale support for property capital owners, de-unionisation, the rise of robots and media corruption. Yet somehow in the mind of the RBA head these structural features of the labour market are secondary to worker anxiety and timidity in the production of low income growth.

That is Australian exceptionalism gone mad.

At MB we remain committed to reform. Even today we believe that a swing to appropriate policy can mitigate the worst outcomes of the adjustment. We are rationalist liberals not Marxist apparatchiks. Yet it behooves me to note on behalf of both the rorted workers and their capital betters that if this gigantic scam persists for long enough then it may just be that it will need to be ripped out at the roots and burned.

Comments

  1. john6007MEMBER

    “Does Australia need Revolution?”
    Sh_t yes, but I guess we will have to wait a few or more years. When it breaks maybe we can start fixing it, so I prefer it to break sooner so we start fixing it sooner. My guess is that life must be still to easy for (the majority) a revolution to happen, or do we just go to the end with a dictator?

    • “My guess is that life must be still to easy for (the majority) a revolution to happen,”

      Maybe, or maybe we’re just too compliant as a people (including myself)? Contrary to how we see ourselves, I don’t think our history is really full of many examples of rebellion. I mean the Queen is still our head of state. We’re a pretty conservative nation really.

      • “A nation of people who want the benefits without the effort.”

        Yeah, except Labor and half unions are too busy lining their own pockets to look out of the little guy.

      • bolstroodMEMBER

        Conditions for Revolution are not yet present.
        90% of workers have jobs.In 1930 unemployment ws over 30%
        People have enough to eat and are not being evicted onto the street.
        Unemployed married men are not forced into railway , bush work camps , or to hump their Bluey’s ,
        so there families can collect the miserly dole.
        There are no dead bodies of starved workers lying in Sydney and Melbourne streets, while unsold food is dumped at sea,making it impossible for scroungers.
        Workers are not being forced to work by armed police and militant vigilanties.
        There are no working class organisations for disaffected workers to rally around.
        All of these conditions, and more, were present in Australia during the great Depression…
        and there was no Revolution, nearly but not quite.

    • The Traveling Wilbur

      But everything is awesome!

      Australia should start its own anual measure of OECD country Awesomeness. That way Bhutan won’t win again.

      It could be sponsored by the Minerals Council.

      *waves at Mike*

      Winning!

    • BrentonMEMBER

      It is this. People will not be shaken out of their apathy until their eyes are opened to the fragility of their cushy lifestyle. More than just economic, we need this bust for social and political rejuevanation. It needs to be country levelling, to snap people out of this zombie state.

  2. “Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.” – Alan Greenspan

    You have to ask yourself… how did a guy with massive ideological bias [cultist (non-evidence based)] and was fired by Hudson for falsifying data… end up serving 4 presidents.

    Disheveled…. so the next question – is – are there anymore like him running around….

    • >(…) so the next question – is – are there anymore like him running around

      As if you don’t know the answer already, Skip. They are *all* the same.. They are all wedded to these “principles” and will do their best to uphold them. Hell – what’s the difference between Labor and Liberals? None – none whatsoever! These fuckers have grown like parasites from inside, and now they’re wearing their skins like suits.

      (Hark-spit!) bastards!

      • ErmingtonPlumbingMEMBER

        “They are all wedded to these “principles” and will do their best to uphold them. Hell – what’s the difference between Labor and Liberals? None – none whatsoever!

        (Hark-spit!) bastards!”

        Nothing would upset these pricks more than being ousted from within,…there is a Democracy within the parties, you know.

        Go get em!

        https://membership.nswlabor.org.au/Join/form

      • Agree, but what’s the carrot EP? I see people waking up & asking questions, but they’re thin on the ground. Majority are fat, numbed & oblivious. How are you going to get the numbers to trojan horse & scatter the original cockroaches that have such a hold on them?

  3. GunnamattaMEMBER

    Look, lets face it. If it isnt going to have some revolution then it is going to need more bullshit. Plenty of it and soon.

    Here is the road we know it is going

    Business leaders, former WTO chief slam Turnbull government’s visa changes
    http://www.theage.com.au/business/the-economy/business-leaders-former-wto-chief-slam-turnbull-governments-visa-changes-20170619-gwtxya.html

    and here is that reportage done properly

    Monopoly-Capitalists slam faux population ponzi limitations as capital extraction impediments
    http://ritualisedforms.com/slam-ponzi-limits/

      • GunnamattaMEMBER

        I would start with the fact it basically parrots 4 luminaries of the elite end of town who do not in any way explain an economic need for immigration (apart from the Coke woman in a laughable manner) in relation to the economy we have

    • DarkMatterMEMBER

      I watched the Age video of the two women who said “incredible” and “skills” many times. I would class them as neo-elites, which I suppose is the 21st century version nouveau-riche. The thing is that the elites see themselves as citizens of an unmapped nation that is London, New York, Paris Sydney, Melbourne. They really don’t want to be constrained by the old geographical boundaries. They also expect to draw resources from anywhere in the world and more or less do as they please.

      Did you notice that both those women were certain that the business they were building were some sort of triumph of moral virtue? Even ticket clippers dream up fancy clever business names and convince themselves they are the next saviour of the world. Most people, especially the neo-elites, have no idea that a lot of economic activity now is just feathering their own nest before it all goes tits up.

      • All that has basically happened is that the world changed with the GFC, and these people are trying to ignore that change, because its much easier for them to live in that pretence. The RBA dude Is at the same game today asking workers to request pay rises.

        Prior to the GFC immigration was a lesser issue in most countries because a rising tide was lifting all boats. Once it became clear that the “great moderation” was actually not new normal but just an expansion of debt (mostly personal), it was clear that the games up. The world cant accommodate rising standards of living for both developed and developing countries at the same time, especially when the 0.01% is creaming off an ever-bigger piece of the pie. But if you’re a CEO you’re hoping like hell that that model will reassert itself, as the alternative is that the whole politico-economic model of the last 50 years is broken…

  4. ErmingtonPlumbingMEMBER

    Whether you want Reform or Revolution,…You can’t have either, without participation!

    I want to see our Thatcherite infested Labor party, return to its Social democratic roots. But just wanting something doesn’t mean shit, you have to participate.

    http://www.alp.org.au/joinlabor

    Its pretty silly and infantile, calling for a Revolution, when you haven’t even tried walking the path of reform.

    https://youtu.be/Grn2EZxcUeA

    • BrentonMEMBER

      Good point mate. Most of us on this website are political activists by nature, we should take the step of actually impacting upon the establishment from within.

    • Hello All,
      I have been a reader of this blog for years, an admirer of Reusa and the beautiful people, and a subscriber for the last few years. I do not comment very much but I really wanted to say something on this article.

      This blog has helped me put data and rational arguments to my disquiet with our economy and so called leaders, and I have continued my education through Steve Keen, Thomas Pickety, Mosley, Bill Mitchell and more recently Game of Mates. It is fair to say I have gone from unease, to skepticism, to bewildered, to critical, to scathing, to now being just plain angry at the political and business elite.

      I am now turning that into action, and although will likely cop some criticism as starting my participation with the Greens. I have spoken to many Labor people and just don’t know if someone like me will ever get any traction with them…early days will see.

      The point of this small rant however: I would argue we need a revolution and am determined to do what I can to get it. I agree ALP and LNP are neoliberal fools and slaves to their donors and largely corporate interests. Don’t get me wrong LNP is completely sold out while there is still hope with ALP and obviously I am not blind to some of the issues in the Greens.

      In the end however I have hope while people like I encounter in this blog every day continue the struggle for our country to be more than the sum of its GDP (or National Income for that matter) You may not realise this but you are all revolutionaries and am confident more will come if an alternative way is provided.

      I am an idealist, don’t really know what I am doing, and am likely naive but I am getting involved as that is the only way things will change.

      Thanks again for all the work MB puts into this blog, and all the contributors. Your work is highly valued.

      Marcus

      • ALP, LNP, GRN … they’re all great and all worth voting for because they all protect us smart good looking investors… all of them!!!

      • The Greens are infested with actual commies. Dangerous.

        If I was to do anything mainstream I’d join the Libs and try and override the NIMBYs. There’s been some success with council amalgamations but a little birdy told me this is not occurring anymore. I don’t know.

        The main problem is almost everyone wants us to be some big swinging dick global city but no one wants to put up with changes that will allow us to actually become this.

        For instance gen y are against the lock out laws and want to preserve the city as their little sordid party area. Therefore they need to be lied to and nullified. The inner city needs to become more high brow and semi suburban like NY.

      • ErmingtonPlumbingMEMBER

        Good on ya Marcus!,… Solidarity to you brother.

        “I am an idealist, don’t really know what I am doing, ”

        Don’t let that worry you, the people running this World, don’t really know what they are doing either.
        Remember life is at least 50% bluff and bullshit,…all our pollies know this.

        It doesn’t matter who you are,…power, real power, always courpts,…that why particapatory Democracy is so important, it gives Plebs like us, the right and power to oversee, bear witness and when required censure and kick out our “leaders”when required.

    • peterbruceMEMBER

      Hey, EP, for not the first time, I have followed your links to discover a speech of great interest and a person and topic for me to research further.
      Thanks,

      • ErmingtonPlumbingMEMBER

        Thanx Pete,…I’ve been into Chomsky go over 20 years now,… but my discovery of people like Tony Benn, Michael Hudson, Thomas Frank, Chris Hedges, Mark Blyth, is all thanks to others here at Macrobusiness.com.au.

        I’ve been here over 3 years now and even though I’ve always had an awareness of the pervasiveness of Neoliberalism, Thacherism, Reagansim, etc ,etc,.. regulars here, like Skip and others, have helped me really get a better grasp of the idelogical and historical foundations of the political and economic reality we live under, and lead me to believe that our Democracy is under increasing threat.

        Macrobusiness is in large part responsible for my Joining the Labor party (concern for my young kids is another) and though it is true the party is full of people, only interested in their own ambitions, there are good people also. With branch memberships at historical lows in all Parties, It would not take that greater number of people, demanding better to turn things around,…change will require a fight,…but it’s not a fight that can’t be won, there is a democratic structure within the parties and a “mass movement” can usher in change, but ya gotta turn up.
        Once you join, you get invited into all kinds of programmes, lectures, training, fundraising dinners and events and you will have access to former and sitting members of parliament and Party Apparachicks.
        They may not like what you have to say, but as a member you will get your chance to have your say and garner support for your position.
        All party members are allowed to register, to go to the State confrence as an observer. That’s where policy is nutted out between the factions (only elected delegates get to vote there) becoming one of these delegates is where the party machinations and shenanigans start.

        As well as regularly attending 2 different branch meetings per month I’m also on the FEC and SEC for my electorate, and although my persistantly bringing up the need for a lower immigration rate, produces many inward drawings of breath, I also get plenty of head nods as well (My calls for Nationalisation of monolopy utilities gets less nods) 🙁

        So come on guys and gals, I’m just a dumb shit plumber, I want to see some of you more articulate and refined types, turn up and do a better job of putting it to the apparachicks of the party, without​, like me, accidentally and embarrassingly dropping the C or F bomb all the time,…I mean when I do that in front of my mum she just rolls her eyes,…but I could end up getting reprimanded at these meetings!

        Help

        https://membership.nswlabor.org.au/Join/form

    • Stewie GriffinMEMBER

      You inspired me to join the FSU today… LAB might be a bridge too far atm, plus I think I need to allow my membership to the existing party I’m a member of lapse first.

      • ErmingtonPlumbingMEMBER

        I hope to see you jump aboard soon, Stewie.

        Still interested in coming to a branch meeting as a visitor?

    • Stewie GriffinMEMBER

      Yeah definitely – do you have twitter? You can send me a direct message on twitter @boomerocracy and I’ll give you my email address or send me yours via DM… I’ve pissed off too many ppl to post my details publicly (for the moment)z

  5. St JacquesMEMBER

    It’s exactly the sort of vacous sermon we’ve come to expect from banking’s high priests. The timing of this sermon of neoliberal homilies was no accident – there has been thirty plus years of failure on the wages front in the western world, and the increasing reliance on debt to make up the difference and now people are waking up to it world wide, as anybody can see on internet posts and social media everywhere. So these out of touch financial priests are trying to put the blame on the workers with their guilt trip rubbish. Shut up and do as you’re told, their sermons tell us, have faith and the reward will surely follow in due course. Well some of the most stupid are starting to see through this faith rot. Note, that this comes on the back of the IMF ramping up its “immigration will eventually deliver the goodies after an initial period of difficulities” sermon, here and around the world, and the same sermon is being broadcast on mainstream media propaganda outlets world wide. Trouble is, this “initial period” of difficulties” is now stretching out into years and decades, and wages here, in the US and UK, the lands where this faith has been pursued with the greatest of religious fervour, continue to disappoint. Nevertheless it may be just a little too soon to sound the tocsin. Many more people and families need to suffer a bit more for the message to become personal. With even average wages sliding backwards in supposedly good times, that won’t take long.

  6. Jake GittesMEMBER

    Lowe shows that Australia’s leaders are still 2nd rate who have shared in it’s good luck. Complacency is too strong in Australia: in fact it is a defense against change or analysis.

    ‘Renard’ is the French for fox and is a long European folk symbol of impudence. Stravinsky’s piece Renard captures it – https://www.youtube.com/watch?v=enjuE2IBe-s

    • “Lowe shows that Australia’s leaders are still 2nd rate who have shared in it’s good luck.”
      Jake, I thought you were always first to edit H&H’s errors? What happened?

      • You have cleverly identified a social demographic gap. Perhaps ordinary mum and dad millionaires with taxable incomes of less than 80k who are trying to get ahead can buy investment children and then rent them out to aspiring young ordinary mum and dad millionaires with taxable incomes of less than 80k trying to get ahead, thereby increasing available supply. Best part is that you can depreciate the child’s value to zero over 70 years, as they’re technically dying as soon as they’re born. Do you think Chinese companies will be willing to grow babies for the Australian investment market? How do we make sure the babies aren’t flammable? A few kinks to iron out but otherwise I think we can all agree that this is a solid policy proposal.

  7. SweeperMEMBER

    We’ve had 34 years of rule by rationalist liberals. The greatest delusion of them all is to think you can create a benevolent unfettered free market system immune from being gamed by the ruling elite which works for the common good. I see no progress until the Paul Kelly version of history – that the country was going to hell in a hand basket pre Keating, and we’ve been on the road to El Dorado ever since – is junked.

    • ErmingtonPlumbingMEMBER

      Yes,.. its this indoctrination into believing said falsehoods, that has the Democracies of the AngloSphere acquiescencing to this market dictatorship that now rules us all.

      When Margaret Thatcher was asked, what she considered was her greatest achievement, her answer was “New Labor”.
      The success of Anglophone 2 party Parliament​ry Democracy used to be its Left/Right dichotomy on matters Economic, now they both just sing from the Sam hymn sheet on these matters, both servants of Private Power.
      The only true difference between them now, are around the far more insignificant and Solidarity sapping areas of Identity Politics,…an almost complete Propaganda coup.

      https://youtu.be/qX-P4mx1FLU

    • Sweeper,

      As a fan of the role of private banks and private bank credit creation can you explain the process by which you would reintroduce regulation to ‘turn back the clock’ with as little pain and suffering for the population, especially those least able to bear it.

      We know you reckon deregulation of private banking was a mistake but you never make clear how you reckon it might be fixed?

      How would you delever a massive bubble of private bank created credit without killing the host?

      By the way here is another link for you – fresh from the oven

      🙂

      https://pfh007.com/2017/06/20/decentralising-australian-cities-why-the-dream-is-as-far-away-as-ever/

    • I’ll take the Keating/post-Keating era hands-down. Australia really was just a charming little backwater before that. Perhaps not as divided by wealth as we are now, but just as divided by “class” and dogma.

      • Stitches

        “..Perhaps not as divided by wealth as we are now, but just as divided by “class” and dogma…”

        Thanks for letting us know we are living in a class and dogma free Australia. Truth be told all that the deregulation of the financial sector has achieved is the holy trinity a society divided by

        Class
        Dogma
        and Wealth

        The idea that deregulation of the financial sector can claim anything beyond driving the economy on unproductive credit creation is a bit rich.

        Next thing you will be claiming it invented the internet, the fixie and the perfect latte-art.

      • @Pfh007; Disagree, there are far fewer genuine class distinctions now than there were in say the early 70s and you don’t have to look very far to establish that. Wealth has replaced it but I would always prefer a system where an individual is free to determine their own future rather than have their future determined by their background.

        As for dogma, fuck me, in the 1970s we had whole industries dominated by a particular religion or trade union, and that’s better than what we have now?

        “Next thing you will be claiming it invented the internet, the fixie and the perfect latte-art” – yes, I would argue that actually.

        Do you think it’s a co-incidence that the USA generates more innovations than any other country and at the same time has the world’s most advanced capital markets?

        How do you think our archaic network of State Banks in the 1960s and 1970s would have reacted if the idea of commercialising the internet was presented to them for funding? “Um, sorry, we only do home loans and kiddies savings accounts and sorry it’s five minutes to 4 and I have to pack up”

    • This. MB’ers should be toying with the idea of becoming slumlords in cheaper areas. I know I am. Lel.

      Antifa will prevent youse from putting a dent in the fascism.

      Western people are like pack mules and little loyal doggies. Admirable on one hand but on the other you could whack them in the face and they’d still be your friend so kind of sad too.

  8. It is a rampant class war that includes mass immigration, systematic visa rorting, hollowing out, wholesale support for property capital owners, de-unionisation, the rise of robots and media corruption.

    Silly me I thought Australian workers were free.
    I thought they were free to use our secondary and Tertiary education systems to raise above their station.
    I thought they were free to learn skills that would make them invaluable cogs in the global economy.
    I thought they were free to to adapt their particular personal wealth creation strategy to the dynamics of our economy.
    In particular I thought they were free to Leave if the opportunities presented to them in Australia were unappealing.
    But I guess I’m wrong, I guess the dumbing-down of our education system has achieved its ultimate goal and now indirectly denies Australian’s their freedom.
    Oh how appropriate my betters trapped in a prison of their own creation that’s simply named Stupidity.

    • Well, bugger me! I guess there might have been something else in that glitter glue he got jizzed in the face a few days ago… otherwise how can we explain this suddenly revelation, come-to-Jesus moment at this point in his life?

      • It was sensational watching him punch over those commies!!! Just went back and had another look. Love it. Hope he broke their faces good time!

      • bolstroodMEMBER

        Yeah, reusa,
        with a mouth like Bolt’s it pays to able to handle yourself on the street.

    • Call me cynical, but it is only because he wants to seem relevant and ‘for the people’, not because of any concern for the plebs that he condescendingly talks down to again, and again, and again.
      http://www.theidiottax.com/2014/04/andrew-bolt-is-powered-by-your-tears/

      It’ll be interesting to see if he can heard his cats away from One Nation and back into the folds of the LNP.

      As an aside, it is these talking heads that reduce everything down to their simplest bite size pieces and then wrap them up in the phrases of whatever side of the culture wars that they are selling to that are perpetuating our inability to look at the problems that ail us. Sanders and Trump succeeded because they didn’t care about the Bolts and Van Badhams of this world. They spoke past them and spoke of the world as it is and how they envisaged it could be changed. They went outside of the political-media narrative that keeps being fed to us twenty-four hours a day, seven days a week. Just having Pauline Hanson as a popular outsider isn’t going to benefit us because we need more grist in the political mill to force broader discussions amongst people.

  9. No revolution will ever happen if there is still polls suggest that LNP-ALP is 53%-47% or 51%-49% shit or any kind of double digits numbers.

    It is amazing how after all these evidence from both parties fu&*ing up everything and then these sorts of polling numbers is still getting double digit supporters.

    Australia is too stupid to revolt…bend over fellas

  10. If we have any revolution it’ll be a One Nation revolution, and they wrong people will be hurt and not much will change, just appearances.

  11. SoMPLSBoyMEMBER

    ” It is a rampant class war that includes mass immigration, systematic visa rorting, hollowing out, wholesale support for property capital owners, de-unionisation, the rise of robots and media corruption.”
    And at the centre of the concentric rings that distort and destroy the heretofore land of the fair go is a lending empire that is completely out of control. It’s already captured the populace who bow in fealty at the power of this quasi-monarchy that promised fame, fortune and everything that goes with it; yet they are trembling in terror as their remaining lucid thought repeats ” it was, and always will be, a scam.”

    Finally, we’re at the point where the boiler needs more fuel as the ‘power’ is diminishing rapidly. Those operating the great ‘engine’ will ignore the gauges and the peril that they represent and anything that can be burned will be tossed into the hopper as the beast requires it. There can be no other way- ‘this’ is the blueprint. When the beast turns on its minders who thought they would remain in control, there will be little time left before the chaos arrives.

    And in that state, where disorder rules, we’ll have a single opportunity to build another engine. It will also be the point where we choose maturity over youthful enthusiasm where our ‘parents’ have always arrived to bail us out of sticky situations. A much better way lies within all of us but we’re going to have to stop all that phoney bowing; it’s completely absurd and superfluous.

    • >(…)When the beast turns on its minders who thought they would remain in control, there will be little time left before the chaos arrives.(…)

      I’m paraphrasing an old Indian proverb here: “Anyone can ride the tiger and make it look good, but none have a plan for dismounting it”

  12. HadronCollision

    MB – you guys are wasted here. Politics beckons.

    As long as you don’t introduce a sugar tax.

    A fat/added sugar/sodium tax is sensible. Tax my carbs and I’ll put you last.

    • Oh well! And there you have it again – writ large: “immediate self interest” first and foremost against “long term greater good”…
      Ironic really, practically a choice between “the next sugar hit” and what’s really good for the nation.

      Couldn’t have put it better myself.

  13. IMO the economic side of the equation is very much secondary to the long term (20/50/100 + years) demographic consequences that most of you will understandably not touch.

    This rampant force fed multiculturalism will fail, it was doomed from the very beginning. Perhaps a certain level of diverse integration can/would have worked up to a point – e.g. civic nationalism – this is not what is occurring.

    Humans preference their in-group – it is our nature – racism (by definition) is built in. When you discard the virtue signaling PC fantasies, we are all racist – the West is just pretending not to be – noone else buys into it. Each ethnic/cultural group has a naturally forming hierarchy – when a minority group reaches a critical mass, their hierarchy starts to be competitive –
    multiculturalism simply results in multiple competing hierarchies. History points to one outcome – conflict.

  14. This is part of the great rebalancing between the East and the West. Living standards and pay drop while productivity increasrs in the West … Globalisation has made some extremely rich and most poorer!

  15. – More countries have claimed to be “different” or “Exceptional”. Japan in the 1980s, Australia after 2008. And when one believes the information coming out of the US then they consider themsleves as “Exceptional” and the “Indisposable” country. Sad, so sad when it’s clear that such a country is going down the drain as well.
    – No, the last I would hope for is a revolution. But I fear reformation will be a matter of “too little & too late” and very slow. And that’s why I fear that one day things will get out of hand and that we’ll have the first (australian) revolution. This is NOT an encouraging prospect.

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