{"id":13068,"date":"2016-04-01T22:07:19","date_gmt":"2016-04-02T02:07:19","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13068"},"modified":"2016-04-01T22:07:19","modified_gmt":"2016-04-02T02:07:19","slug":"megalogenis-australian-panic-macrobusiness","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/","title":{"rendered":"Megalogenis: Australian Panic! | MacroBusiness"},"content":{"rendered":"<p>From Unconventional Economist at Macrobusiness:<\/p>\n<blockquote><p>&#8230;..George is back, this time with <em>The Australian Panic<\/em> in a new Quarterly Essay: <\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"The Australian Panic\" alt=\"The Australian Panic\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/598324.jpg?w=525&#038;ssl=1\" \/><\/p>\n<p>In this urgent essay, George Megalogenis argues that Australia risks becoming globalisation\u2019s next and most unnecessary victim. The next shock, whenever it comes, will find us with our economic guard down, and a political system that has shredded its authority. Megalogenis outlines the challenge for Malcolm Turnbull and his government. Our tax system is unfair and we have failed to invest in infrastructure and education. Both sides of politics are clinging defensively to an old model because it tells them a reassuring story of Australian success. But that model has been exhausted by capitalism\u2019s extended crisis and the end of the mining boom. Trusting to the market has left us with gridlocked cities, growing inequality and a corporate sector that feels no obligation to pay tax. It is time to redraw the line between market and state. <\/p>\n<p>Balancing Act is a passionate look at the politics of change and renewal, and a bold call for active government. It took World War II to provide the energy and focus for the reconstruction that laid the foundation for modern Australia. Will it take another crisis to prompt a new reconstruction?<\/p><\/blockquote>\n<p>I think George has it right this time.<\/p>\n<p>Source: <a href=\"http:\/\/www.macrobusiness.com.au\/2016\/03\/megalogenis-turns-from-australian-moment-to-australian-panic\/\">Megalogenis: From Australian Moment to Australian Panic! &#8211; MacroBusiness<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Unconventional Economist at Macrobusiness: &#8230;..George is back, this time with The Australian Panic in a new Quarterly Essay: In this urgent essay, George Megalogenis argues that Australia risks becoming globalisation\u2019s next and most unnecessary victim. The next shock, whenever it comes, will find us with our economic guard down, and a political system that &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Megalogenis: Australian Panic! | MacroBusiness&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,57,28],"tags":[],"class_list":["post-13068","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","category-taxes-inequality"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Megalogenis: Australian Panic! | MacroBusiness - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Megalogenis: Australian Panic! | MacroBusiness - the patient investor\" \/>\n<meta property=\"og:description\" content=\"From Unconventional Economist at Macrobusiness: &#8230;..George is back, this time with The Australian Panic in a new Quarterly Essay: In this urgent essay, George Megalogenis argues that Australia risks becoming globalisation\u2019s next and most unnecessary victim. The next shock, whenever it comes, will find us with our economic guard down, and a political system that &hellip; Continue reading &quot;Megalogenis: Australian Panic! | MacroBusiness&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-02T02:07:19+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/598324.jpg\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Megalogenis: Australian Panic! | MacroBusiness\",\"datePublished\":\"2016-04-02T02:07:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/\"},\"wordCount\":231,\"commentCount\":4,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/598324.jpg\",\"articleSection\":[\"Australia &amp; NZ\",\"Stock Markets\",\"Taxes &amp; Inequality\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/\",\"name\":\"Megalogenis: Australian Panic! | MacroBusiness - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/598324.jpg\",\"datePublished\":\"2016-04-02T02:07:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/598324.jpg?fit=372%2C400&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/598324.jpg?fit=372%2C400&ssl=1\",\"width\":372,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/01\/megalogenis-australian-panic-macrobusiness\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Megalogenis: Australian Panic! | MacroBusiness\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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The dollar broke lower last night and appears biased for more. The five drivers are: interest rate differentials; global and Australian\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4199,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/24\/basel-takes-aim-at-mega-bank-macrobusiness\/","url_meta":{"origin":13068,"position":1},"title":"Basel takes aim at Mega Bank &#8211; MacroBusiness","author":"Colin Twiggs","date":"April 24, 2012","format":false,"excerpt":"Deep T: On the one side we have an Australian housing market which is close to the most unaffordable in the world with mortgage debt at 100% of GDP also close to the highest of any country, yet Mega Bank [the Big Four banks] calculates its minimum capital requirements at\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4687,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/21\/a-tilt-in-australian-liberalism-macrobusiness\/","url_meta":{"origin":13068,"position":2},"title":"A tilt in Australian liberalism &#124; MacroBusiness","author":"Colin Twiggs","date":"June 21, 2012","format":false,"excerpt":"Houses and Holes: As I have noted in the past that, for the most part, Australian political economy is divided pretty simply into two teams. On one side you have a kind of bastardised social liberalism in which trade union thugs wield power via the Labor Party and are supported\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6736,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/17\/industry-policy-cannot-offset-the-australian-dollar-macrobusiness\/","url_meta":{"origin":13068,"position":3},"title":"Industry policy cannot offset the Australian dollar &#124; MacroBusiness","author":"Colin Twiggs","date":"February 17, 2013","format":false,"excerpt":"Houses & Holes at Macrobusiness writes: Adding a couple of $100 million to industry innovation support is just not going to cut it. Our authorities should do exactly what the rest of the world is doing. Go to the G20 and join the chorus of indignity directed at currency manipulation,\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6432,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/10\/pettis-australia-should-be-pessimistic-macrobusiness\/","url_meta":{"origin":13068,"position":4},"title":"Pettis: Australia should be pessimistic &#124; MacroBusiness","author":"Colin Twiggs","date":"December 10, 2012","format":false,"excerpt":"Michael Pettis writes about the latest Australian government White Paper Australia in the Asian Century that projects an average 7% GDP growth rate for China between 2012 and 2025: This seems to put the Australian government among the most optimistic in the market when it comes to long-term growth expectations\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12917,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/03\/06\/minack-exclusive-australian-recession-risk-still-live-macrobusiness\/","url_meta":{"origin":13068,"position":5},"title":"Minack exclusive: Australian recession risk still live | MacroBusiness","author":"ColinTwiggs","date":"March 6, 2016","format":false,"excerpt":"From David Llewellyn-Smith: .....real GDP remains a misleading measure of how Australia is faring. The key to the mining boom was not GDP strength \u2013 real GDP growth was weaker than in the 1990s \u2013 but the income uplift from rising terms of trade. The issue now is the income\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13068"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13068\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}