Time to face facts: Albo is destroying Australia at lightening speed


It’s time we face reality. The Albanese government must be sacked at the first available opportunity.

I know the alternative is a corrupt bollard with a trail of complete losers. But that is a by-the-by for the future.

Today we must face the problem we know, and its name is Albo, the worst PM since the Federation.

Long-term readers will know that I have despised most PMs for over ten years:

  • Rudd’s mining coup;
  • Gillard’s ineffective cut-through;
  • The frankly inept Tony Abbot;
  • Do-nothing Malcolm, and
  • the Liar from the Shire.

Of these, the Gillard Government is the clear standout. Creating a carbon price and NDIS from the minority government is very impressive. But she could not connect these achievements with everyday issues like Abbott could.

Second, I place ScoMo for his extraordinary punching of China in the face and almost singlehandedly shifting views in the G7 about Beijing’s evils.


Third, I would place Do-nothing Malcolm, who at least applied a putative form of the gas domestic reservation to prevent an energy shock.

Fourth, Abbott at least had a policy process, even if his ideas were a century too late.

Last is Rudd, the wrecker of the modern Australian economy.


All have lowered Australian living standards through rent-seeking, corruption, and over-reliance on immigration as a growth driver.

But now, one PM stands head and shoulders above the rest, an unprecedented destroyer of Australian living standards. His name is Anthony Albanese.

He has achieved this dubious distinction by weaponizing two of his predecessors’ biggest energy and population growth blunders.


Megablunder one: gas

In the first weeks of the Albanese Government, the Ukraine War shook global energy markets. MB called critically placed ministerial advisors within the government to warn them of what was coming.

The warnings went unheeded, and the result was an energy shock so large that it is still running two years later:


In the eight months it took Albo to do something about gas – which included resource minister Mad King selling out the country before fleeing on an oil platform junket to avoid media scrutiny, plus the work of five hapless ministers – the Australian electricity price soared from $60Mwh to $700Mwh.

These eight months crossed directly over the assessment period of the AER as it sought to set the retail price for the next year for retail and business. It had no choice but to inject massive bill shocks for households and businesses. Which it duly did for two years in mid-2022 and 2023.

Roughly $120 billion in gas war profiteering profit flowed from your bills into global corporations over the year. And for what? So Albo didn’t upset a few bloodsucking oil companies profiteering a foreign war. How sick is that?


While he did this, Albo was busy with the forgotten Indigenous Referendum that was crushed at the ballot box.

This enormous energy shock pervaded everything. All businesses use energy. It hit building materials costs especially hard because making plaster, bricks, and cement is very energy-intensive, which I will return to.

Megablunder two: immigration.


At no time in Australian history have so many people been shoehorned into eastern cities since Albo came to power.

Perversely, Albo and the ALP understood that one of the primary effects of excess immigration is to kill wage growth. As the LNP ran high intake numbers through its 2013-2022 tenure, dodgy migrants wrecked the industrial relations system, hiring and firing the vulnerable at will, stealing wages, charging for visas, and running slave labour systems. This was the core of the lowflation period.

Albo promised to stop it:

Albo immigration lies 1
Albo immigration lies 2

Yet the moment he took power, Albo did the opposite. Unleashing the most significant flood of Third World unskilled and vulnerable workers in the nation’s history:

Australian NOM

Australian wage growth is still far below previous economies owing to the LNP pre-COVID period. Now Albo has ensured that it has been wiped out just as his high energy inflation guts purchasing power:


For perspective, these are some of the worst falls in real household incomes in fifty years and arguably a century.

Albo’s double blunder delivered all of this in under two years.


But that is not the end of it. Oh, no.

There’s also Albo’s everything shortage to consider. It is so bad that it is hard to know where to start:

  • Schools are overrun with demountables, failing facilities and angry, overworked teachers.
  • University education is a joke, collapsed from pedagogical excellence into the recruitment of local kids to teach broken English-paying foreign students.
  • Roads are choked, and construction is everywhere. Public transport is a joke.
  • Hospital wait times have EXPLODED across the board. The elderly now wait years for procedures that offer comfort in their dotage. It used to take a month.
  • Given the endless supply of warm bodies, corporations have abandoned service models for churning and burning.

And above it all is the most disgraceful feature of the failing Albnese Government: housing.

What kind of government deliberately de-houses its youth and most vulnerable cohorts?

The perpetual torture of Australia’s feudal housing system has moved from cancelling the Australian dream to the mass eviction of low-income renters. Homelessness is the new boom.


Brainwashing real estate media gaslights youth daily about supply-side solutions. But there are none because Albo’s energy shock rendered dwelling construction uneconomic. Undeterred by a constricted construction supply side, Albo kept on pouring in record demand, sending rents mad.

This has also added the final insult to Australian households. Unbelievably high mortgage rates that have destroyed lifestyles:


Psycho leader

I can only guess what drives such a sick leader.

Albo has made a big deal out of his houso mother and poor youth. She lied to him for years about his father being dead when he was, in fact, alive overseas.

If you overlay these two experiences of Mum and Dad, you get an eerie reflection of what Albo is transforming Australia into today.


Albo’s repressed rage at his mother makes him loathe the homeless. Expanding their numbers to an entire generation feeds his revenge, especially if it is driven by open borders to enable entry for long-lost fathers.

Whether or not you find this pop psychology convincing is beside the point. He might be just another globalised hollow man who is more at home governing India than Australia.

What is beyond question is that Albo is destroying the Australian way of life at lightning speed, like the LNP mainlined on a kilogram of cocaine.


I have no faith in the LNP to run the place any better. But I am pretty sure that they will at least slow down Albo’s mission of destruction.

Albo has to go at the first available opportunity, preferably burned at the stake.

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.