Treasurer Jim Chalmers, a Paul Keating clone, proposes more inflation, more wealth reduction, more unemployment and more misery
from Senator Malcolm Roberts
In a recent economic essay released for weekend newspapers, Australian Treasurer Jim Chalmers has cobbled together some cliches about how best to run the world’s 13th largest economy. To summarise, it is a blueprint on how to destroy a $1.3 trillion dollar economy. Of course, Doctor Chalmers has learnt from a master at economic shrinkage, his PhD dissertation was on the economic and social legacy of Paul Keating.
Unfortunately for the Treasurer, his blueprint was released on a weekend when news hit that his tax on beer is set to rise sending the price of beer towards $12 a schooner. Just for the record though, and I’ll get to details soon, Chalmer’s blue print will surely classify your beer as a ‘bad’ investment, because it is full of carbon. Prices will get even higher.
We have to take our hats off to the spin doctor in the Treasurer’s office who released the essay to coincide with the increase in beer prices.
Schooners of beer are exactly what the Treasurer’s blueprint boils down to. Prices of goods are inflating exponentially, and it is the main topic for discussion at kitchen tables right across Australia. Families are now having to choose between new school shoes or eating; getting the roof fixed or having a holiday at the beach.
A basket of goods that only cost $100 in 1990 set you back $217 in 2022. With sky high inflation, that $100 basket now costs us an eye-watering $234 in 2023, a nearly 8% increase in just one year. Unfortunately, prices will continue to go up. Much of Australia’s price rises in groceries and the bills we can’t avoid are even worse than the headline inflation rate.
Meanwhile in Canberra, the Treasurer is writing new short stories about how to add more pressure to our inflation cooked economy and what he can do to make life even harder for Australians.
Chalmers references the polycrisis of converging pressures. What we really have though in Australia is a pollie-crisis, due to politicians in Canberra making terrible decisions.
Australia’s inflation hasn’t been this high since the Keating days. Families should be terrified, because for those of us who can remember, Paul Keating sent mortgages to 19% and much of the country went broke.
The Treasurer’s neo-Marxist catch-phrase ‘sustainable finance architecture, including a new taxonomy’ to label the climate impact of different investments, has been a topic of much discussion in recent years. Soviet extremists on the left argue that this system is necessary for their fight in the climate change scam and promoting ‘sustainability’. Others, including One Nation, argue that it is misguided and ultimately harmful to economic growth and people’s prosperity.
First and foremost, using a ‘new’ taxonomy to label the climate impact of different investments is the worst and most damaging form imaginable of government intervention in the market. In short, Chalmers says he wants to classify all investments made, including in your superannuation, into ‘good’ and ‘bad’. Ergo, beer full of carbon will be a ‘bad’ investment and need a higher price, while a tree (which is actually made of carbon like much of everything else) will be ‘good’.
This market intervention is the most serious and concerning idea that a government has offered since Ben Chiefly dabbled with communism in the late 1940’s.
The federal government classifying an Aussie family’s assets into ‘good’ and ‘bad’ is a terrifying intervention. Firstly, it creates a level of uncertainty for investors, including you, as they may be unsure of how investments will be classified under the new system. Labor has a track record of changing the goal posts at any minute to suit any Greens, union or factional deal on the table. The classification system is purely subjective and cannot be based on evidence or data.
Secondly, it will lead to market distortions, as certain investments are favoured over others simply because of their classification as good or bad, rather than any economic, financial or productive merit. This will lead to a misallocation of resources, as investments that may not be the most economically efficient or profitable are chosen simply because they are classified as more ‘environmentally’ friendly. For example “this model of car (an Electric Vehicle) is ‘good’, while that diesel 4WD is ‘bad’”, even though Australia is not a country suitable nor ready for the forced uptake of 100% electric vehicles in any way.
The good or bad decisions are made based on the Treasurer’s mood as he gets out of bed in the morning. It is simply a chaotic system that is being proposed. The Soviet-level bureaucracy necessary to write, disseminate and enforce this controlled economy will result in significantly higher taxes and lower economic growth – an inevitable result of bigger government. Higher taxes and debt will continue to be the Labor way.
These plans will trash our economy. When the Government tries to pick winners, the country loses.
All realistic thinkers will reject and debunk the idea that we can accurately classify and label the ‘climate impact’ of different investments . Any policy setting Australia makes with the aim to ‘adjust’ the world temperature will barely be a drop in the ocean, even if you believe we need to do anything, which the science clearly says is neither necessary nor possible.
The emphasis on ‘sustainable finance’ and labelling the climate impact of different investments as ‘good’ or ‘bad’ misses the point that the issue confronting Australians is inflation and a lack of economic advancement. Controlling and directing the economy to favour only climate-friendly projects from ALP donors will not deal with inflation. Instead, concentrating economic power in the hands of a woke few, it will increase inflation.
One Nation proposes, and has always advocated for, systemic economic reform with the primary objective of reducing government waste to reduce the tax burden on families and eliminate government debt.
If Australians think it’s a rough deal that the Treasurer must raise tax on beer this weekend because beer is ‘bad’, they are best reminded that the cost of beer will be small fry compared to other cost of living pressures Chalmers will soon unleash.
The Treasurer can take away one important lesson from this battle, One Nation will fight the Labor party every step of the way. We will fight for lower prices, better working conditions and a safer economy. The Liberals may have abandoned the field to socialism, but we haven’t. When I ran on as a rugby and league halfback as a teenager and young adult, the job was clear; get that ball and drive it up the middle.
So Labor had better realise it won’t get away with trashing the economy just because of a fractious, demoralised Liberal party destined to become totally irrelevant. The Australian political landscape is now far more pluralistic as One Nation’s continuing growth demonstrates.
The Orwellian use of catch phrases like ‘sustainable finance architecture’ and a ‘new taxonomy’ to label the ‘climate impact of different investments’ is designed to hoodwink the public while winning back Labor’s Green voters, who already exist in this world of doublespeak and concocted reality.
Chalmers is proposing an unnecessary and frightening intervention in our economy that has already been screwed over thanks to years of government COVID restrictions. These measures have had questionable impact on our health, and have certainly decimated our economic well-being. Investors can no longer invest with certainty. Banks have introduced their own version of the Treasurer’s “worthiness” index that is forcing the closure of critical industries in mining, agriculture and manufacturing.
Chalmers is promising more of the same. More wealth reduction, more employment loss, more unemployment and more misery for everyday Australians.
One Nation is having none of this Soviet-style economic management. Let businesses get on with what they do best – creating jobs, creating wealth, and creating a future for workers and for all everyday Australians.
In our beautiful country the best method of providing a future for everyone has always been personal enterprise.
Posted on January 30, 2023, in ABC, Agenda 2030, General, One Nation, Senator Malcolm Roberts and tagged beer, climate taxonomy, Jim Chalmers, Paul Keating. Bookmark the permalink. 9 Comments.
In 100% agreement Pat.
The 2024-25 conflict has already been pinpointed to a war between the U.S. and China. Those following this developing situation, know where we currently stand. As part of the alliance, North Korea has just admitted that it is supplying arms to Russia, and more specifically, – to the Wagner Battalion.
Martin’s ECB model is essentially quite simple, as all it does, is track the movement of capital flows. However, due to the computer’s massive data input, it can detect the incipient stages of major capital movements decades in advance.
I am awaiting Martin’s new book, ‘Discovering the Business Cycle: Economic Confidence Model,’ which should be going to print shortly. I think this will be a classic.
Any regular follower of the gold markets, knows full well who’s doing the buying. Socrates picked this up years ago.
Those holding currency will regret it.
Ahh yes gold – when it suits them they will confiscate it all – just like in the USA.
Dr. said – “As Western currencies race to zero over the next few years, inflation and war will rise in tandem.”
And as Martin Armstrong said (many times), as people LOSE FAITH in government and the currency, they will flock to safe havens like precious metals and hard assets – although he stresses that gold and silver are NOT invoilably “valuable”, they just serve as a refuge when other means of exchange periodically collapse.
BTW, Mr. Armstrong also asserts that the US dollar will be the LAST among the Western fiat currencies to collapse. It’s all about CONFIDENCE and where people around the world perceive SAFETY.
Also BTW, Mr. Armstrong says a real serious widespread war is looking likely in late 2024 and 2025 – probably what will be historically remembered as Exercise WWIII.
As with other Western currencies, the AUD has collapsed in line with money printing (currency debasement). As the charts show.
The more dollars in circulation, the more the dollar is debased.
People fail to realise, that inflation does not mean the price of goods are going up, but on the contrary, – what it really means, – is ‘the value of the currency is going down’ [due to money printing currency debasement].
As Western currencies race to zero over the next few years, inflation and war will rise in tandem. This is nothing unusual and shouldn’t surprise CN readers.
This shabbos goy Jim Chalmers is a gold mine os Marxist word salad which will contain the code words for specific policies.
The government could not organise a bingo night.
The door tax would be all the money the players had on them to play for each round, the game would then be cancelled, the labour organisers would then drink all the beer themselves, and take the prizes meant for the winners and distribute them amongst themselves.
Good on you Labour. Just what you name means for all Australia, HARD LABOUR. as no labour government has ever made any sort of benefit for Australia only inflation and despair.A bunch of thieving robbers
@ Malcolm Roberts;
I tell you what, how about you get your thick head out of the sand, be the man of the people you portray yourself to be, and move to dissolve Parliament on the grounds that is Unlawful AND Unconstitutional (1900UK) and that will put an end to the wanton destruction of Australia being caused by Professional Politicians who have no Authority to sit in Parliament, let alone pretend to Govern;
Where there is no basis in Law, there can not be Law;
Oh i know why Malcolm, it’s because you are part of that very same Unlawful Corporation called AUSTRALIAN GOVERNMENT and you are more than happy to keep draining the public purse for your “salary” while creating all these “say no” smoke screens to avoid the inevitable;
Yes, there is no doubt that being Taxed for providing Co2 is an urgent issue but again, rid Australia of Corporate AUSTRALIAN GOVERNMENT and this will all disappear;
LikeLiked by 1 person
What about all the people who lost homes, jobs, businesses and livelihood due to CoVID dicta and vaxx mandates?
These taxpayer funded fat cats love making life difficult for working people . I reckon they should get a job in the real world. Most of them fail miserably at whatever job they take on. The results are bordering on the criminal Some are bordering on the insane.
Many people have not been paying attention . Now we are in a hell f a mess.. I did not vote these wackers in !!!!