Sunday, August 24, 2008


Fever in the morning. Fever all through the night.

I've been in sweating and shivering since Wednesday. Next year when my employer offers me immunisation against the coming round of flu, I'll accept it.

For anyone who wonders where I've been, it's here - in bed with an awful head and awful thoughts going though it, progressively getting more pleasant.

Some of the awful fevered thoughts concerned politics:

Did the Coalition really go into an election less than a year ago with a campaign slogan that read "Go for Growth"?

Surely they didn't. Vacuous at best, dangerously irresponsible at worst, and as a slogan meaningless to the lives of of ordinary Australians - I had to remind myself they did in fact do it and were apparently proud of it.

And that their back-up slogan was the genuinely meaningless "Aspirational Nationalism".

Had they completely lost the plot by the end?

The nearest parallel I can find is the in slogan that led the Coalition to its previous defeat in 1983 - "We're not waiting for the world".

Asked on the morning after their defeat why the Coalition had lost, the conservative commentator Frank Knopfelmacher replied with bitterness: “They had nothing to say, and they kept saying it”.


Tess said...

There've been some nasty viruses going round this year - glad you're feeling better

Anonymous said...

Go for Growth mantra – fiscal delusion:

In 2007 the Liberal govt published the Intergenerational Report 2007 IG2. By 2047, Aus population was projected to be 28.5 million. Liberal Party went to the election with this policy in their back pocket.

This is where “Go for Growth” mantra comes from I think.

Labor not only inherited it, but is now gladly running with it. It forms the basis of their Accelerated Migration plan.

This proves Liberal and Labor are subject to the same mental forces or beliefs driving our artificially created growth in GDP (along the lines of more consumers, more debt, more better).

Slightly infantile and agrarian in concept, but the best they can offer at the moment perhaps.

Last week, Access Economics estimated the 2007-08 migration program will bring a net benefit of $536 million.

However, this net benefit (from: Migrants Fiscal Impact Model: 2008 Update), is dwarfed by the real long-term costs not factored into calculation by the modelling:

1. Model extends out for 20 years, it is not a ‘life cycle’ model of migrants. Retirement / pension phase and associated costs are not included in calculations.

2. Impact on Budget from any children of the migrant group born after arrival in Australia is also not considered.

3. Public goods and infrastructure funded by Commonwealth budget is not considered in calculation (eg $20B initial allocation of Building Australia Fund, mainly for roadworks in major cities, forecast States spending $80B, etc).

In fact, the mantra Go for Growth could well be renamed Go for Bankruptcy.

PS: tried a flu shot once, and never again, I got wiped :)

ausfho said...

New Treasury mantra: Go for Debt. Liberals called it ‘Go for Growth’. Not sure what Labor calls it. Perhaps ‘Accelerating Migration’ or ‘Go for Bigger Rental Portfolios’?

New mantra is based on Intergenerational Report (IG2) Chart 8, Projected Path of Net Debt to GDP.

Extrapolation of chart 8 shows Aus will have 100% Debt to GDP by about 2070.

Anyone for a banana?

To quote (IG2):
Demographic and other factors are projected to place significant pressure on government finances over the longer term and result in an unsustainable path for net debt towards the end of the projection period.
If surpluses are maintained to 2022-23 as projected, then net debt would not re-emerge until the mid-2030s but would rise very quickly to reach around 30 per cent of GDP in 2046-47 and continue to increase after that date.”

In other words, Australia’s economy is being driven into a 100% Debt to GDP ratio by an Accelerating Migration policy justified by IG2.

The policy is its own nemesis, how ironic. The pyramid to end all pyramids?

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