The bedrock of Australian political chaos revealed

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From the AFR comes Chris Dickman of Altius:

The swinging voters in the Australian electorate, middle-class households, are sending a strong message to all levels of government on both sides of the political divide: “Where’s our income?”…GDP growth is over 3 per cent, unemployment has fallen to 5.3 per cent, and more than 1 million jobs have been created since mid-2014. Billions of infrastructure spending is in various stages of construction and planning. But there are still good reasons for this group of voters to feel dissatisfied.

Since 2008, median income in real terms has lifted a meagre 2 per cent…If you alienate the middle class, you lose the momentum in the electorate. The middle class in Australia is where the swinging voters are, and if you include the “aspirational” middle class, it makes up the biggest part of the population.

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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.