Jim Chalmers has never run an economy and it’s not going well

I have noted on many occasions that Jim Chalmers is, so far, the worst treasurer anybody can remember:

Falling real incomes in developed economies are a feature of the post-COVID world as it works off pandemic fiscal excesses.

However, our Jim made it much worse than needed in Australia when he cowered before “business” at the Jobs and Skills Summit, unleashing a torrent of cheap foreign labour to suppress wage growth while lifting costs for essentials such as housing.

He made it worse still when he cowered before the gas cartel during the Ukraine War energy shock, delivering Australia a preposterous utility bill shock in paying through the nose for its own energy resources.

The result for real incomes is much worse than, say, America. There, wages did run hot to keep better pace with inflation, and the correction of price pressures was much sharper owing to a balanced housing market and better energy policy:

If we are exceedingly generous, we might forgive Jim Chalmers for these opening blunders. We could put it down to learnings and conclude he will improve.

However, how much improvement can we expect when Jim Chalmers is so busy lying about it all? He doesn’t need to lie about it. The moron press isn’t pursuing him on it. He could leave well enough alone:

This suggests that Jim Chalmers has learned nothing. That he is focused entirely on politics over the economy. And his enormous blunders so far are symptomatic of his method.

In this case, it is not going to get better. It is going to get worse.

To wit, Terry McCrann:

It takes a particular combination of stupidity and, I have to say, deliberate malevolence, on the part of the prime minister and his government, to keep fuelling the flames of the housing and rental shortages with the massive, now utterly out-of-control, immigration, and also actually pouring more fuel into the concurrent explosion in building costs.

We are going to make the housing shortages even worse, especially for the needy and the vulnerable. and make housing, both rental and buying, more unaffordable for pretty much everyone.

In short, real incomes will also keep falling as the supply side of the economy is strangled by another Jim Chalmers macro blunder.

Jim Chalmers is not the friendly goofball he makes out. He is an incompetent economic wrecking ball aimed directly at the workers he claims to represent.