It does not take long to ruin a country. One business cycle can do it. And the Coalition has succeeded in doing just that.
No matter where one looks today, no matter the sector, the regulator, the governance or policy, the conclusion is the same. Australia has quietly slipped from a liberal democracy run for the people to a ravening kleptocracy run for the white collar criminal.
The most obvious examples speak for themselves:
- the energy sector is run by a government shielded gas cartel that is stealing many multiple billions every year from households and business;
- the financial sector has lurched from appalling behaviour to castigation by royal commission to two months later being emboldened to attack regulators with impunity;
- the mining sector long ago bedded down its rentier profits after rolling a prime minister and composing its own tax code;
- small business is engaged in a gigantic wage theft enterprise run entirely around the margins of the mass immigration program;
- the franchise sector is engaged in a gigantic wage theft enterprise run entirely around the margins of the mass immigration program;
- the gig economy is engaged in a gigantic wage theft enterprise run entirely around the margins of the mass immigration program;
- the tertiary sector is owned by international students that have destroyed pedagogical standards;
- every sector has a lobby with media teeth that can bite pollies instantly;
- housing markets have been horribly distorted by illegal foreign capital laundered with the blessing of governments;
- regulators in every segment of the economy are overrun, underfunded, corrupt and captured;
- a property obsessed reserve bank has destroyed its own mandate and has not gotten a single decision right since 2011;
- governments themselves has completely lost due process, spewing pork and crazed ideas like village idiots;
- the media is a realty-addicted parasite pre-occupied with culture wars and “businomics” that simply hides all of the above instead of holding it to account.
In truth is the rot set in before the Coalition took power. The Rudd Government was a disaster in terms of appropriate divisions between private and public sectors. It bailed out banks. It caved to miners. It flip-flopped on climate change policies. And, in general, it operated like state government, inviting interests in to distort policy making when it should have focused on the national interest and keeping the polity on side against interests. It also embedded ‘Big Australia’, the property bubble and the reliance upon public spending for employment growth.
But the Coalition took these and metastised them into an outright kleptocracy that Labor is going to have one Hell of time trying to fix. If it even bothers.
I ask you, when you survey the above, how can it be that the Australian people aren’t rioting in the streets? It can only be that although they sense something has gone wrong, which is why they keep turning over governments, they can’t put it all together like we do at MB.
But ignorance is no longer bliss.
