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We can all remember Chalmers 1.0, when he and his mate Lord Charlton were too gutless to put any kind of gas tax on the warmongering gas cartel.
This decision, above all else, triggered years of inflation and real wage falls.
Now, we have Chalmers 2.0, again, as the treasurer’s economy rolls into a new real-wages dive, again driven by an energy shock and overspending.
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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.
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