Amanda Vanstone, former Howard government minister, writes on the 40th anniversary of Gough Whitlam’s government.
For a surprisingly long period there was no effective cabinet, then unsatisfactory cabinet process. It was nothing short of economic chaos, a disaster. It was a reminder to everyone that you can have all the great ideas you want about a better world, but if you do not keep the economy on track your government will fall apart.
via We warmed to Gough, even as his grand design crumbled.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients.
Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter.
Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
And we are still paying the price for this bunch of total incompetents. Courtesy of arbitrary tariff cuts which effectively said to Australians that it was ok to buy the products of low cost labour and close down our industry as a result (an almost irreversible situation politically) and the infernal Button plan which is about to lose us our last major manufacturing industry, car making, we are now paying in spades for these so called “friends of the working class”.
Whether low cost labor or an artificial exchange rate the result is the same — destruction of manufacturing jobs.