Jim Chalmers has destroyed the economy

Thursday 27 November 2025

Getting an early assessment of a new treasurer can be quite unfortunate. Especially for the treasurer.

In June 2022, MB warned the newly elected Albanese government that a fateful energy shock was underway, one that would destroy its domestic agenda, while the government took a victory lap around the country.

We went so far as to call several newly elected ministers personally, all of whom responded with incredulity.

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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.