Victoria disease infects foreign policy

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Victoria disease is killing Australia.

The malady of permanent Labor governments leading to excessive immigration, falling living standards via the labour market expansion economic model, woke policy fixations, and capitulation to China is fatal in the long run.

Alas, the primary symptom of the disease is brainwashing, so nobody can see it, let alone cure it. From The Australian:

The Victorian Labor Party has overwhelmingly voted for the Albanese government to immediately recognise a Palestinian state, step up sanctions against Israel and suspend its participation in AUKUS at its annual conference.

The difference at the policy level is only one of speed, not kind.

It is a strange fate that a nation so blessed with possibility in its freedom from the old world, and so rich with success in the new, should turn so self-destructive.

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Who cares about far-flung conflicts when we have such an abundance of problems to solve here?

Not least being the rise of an autocratic hegemon sailing gunboats around our coast in order to demand anything that it wants.

I am tempted to say that this is the usual brand of hubris that regularly overtakes successful nations eventually, leading to decline.

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There is a kernel of truth to this in the total disenfranchisement of youth from the economy via crushed wages and roaring asset prices.

But, given these causes are led by the same youth, I can’t help but feel it is the opposite of hubris—some kind of poor national self-esteem, expressed through both parental and self-neglect of and in our children.

We have repackaged the old national cringe for the woke, and this time it will prove fatal.

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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.