One-term Albo comes into view


Some nice little sound bites from ALP insiders on the weekend:

One long-time Labor figure questioned the PMs judgement in allowing the perception of detachment to fester. “I no longer recognise the bloke who had his arse hanging out of his pants and who was always in touch with the punters.”

…“There are two views in the party,” noted one insider. “The first, held by the sensible people, is ‘what the f—’s going on?’.

“We’ll finish the year and all we have done is f— the referendum. We’re all over the place on Israel, we got pantsed on boats, all while Old Mate’s at APEC for whatever reason.

The second view comes from a cohort “who are consoling themselves with the observation that no one’s going to vote for Dutton, he’s unelectable, that he’s Voldemort, and we’re above all that”.

Dutton is electable. Just as “unelectable” Tony Abbott was elected. That’s arrogance speaking.

I put Dutton as the favourite to win the next election. Provided he promises one thing: freezing immigration.

Several factors will become apparent by the time of the next election.


First, the labour market will have cratered into the chronic foreign worker shock, and wages will be shot.

Second, it will become apparent that Albo is unable to cut immigration owing to the insane deals he signed with India.

Third, house prices and rents will breach catastrophic levels of unaffordability.


Fourth, interest rates will be plunging everywhere except Australia, which suffers from chronic Alboflation.

Fifth, living standards will have fallen throughout Albo’s term.

Freezing immigration resolves all these problems in one go, and the LNP election campaign writes itself.

  • Labor cannot manage the economy.
  • Interest rates are always higher under Labor.
  • Labor cannot manage borders.

All LNP rhetorical myths about the ALP confirmed in one disastrous term of government.

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.