Modern Child Slavery: Australian Federal Debt


The other day I was trying to articulate the levels of malicious deception the political class subjects the Australian people to, and to be honest the explanation I gave was an understatement. I tried to explain that corruption and the incentives within a compromised democratic political system cause a bidding war to erupt between the political duopoly as to who can promise the most immediate gratification, and assuage the notion there may ever be negative consequences for largess.

I tried to explain that the ability of politicians to borrow to fund their promises mean that they are incentivized to steal from the future as their only desire is to get the votes this election cycle. Even worse, they never have to hang around to deal with the consequences of their actions as they will be slowly walking into the sunset with the parliamentary pension safely in hand. Sadly, the children of the nation are left with the externalities.

I tried to explain that every year the government lies about how good the future might be and how the level of debt and spending is sustainable. I tried to explain that there are now enough low information R-selected idiotic voters out there to continually keep believing them, because they are too dumbed down by the state controlled education system to critique the fairy tale of never ending debt-fueled prosperity.

I was met with a “yeah politicians fudge the numbers a bit, but don’t be so negative/cynical”.

Naturally I went all in on my hatred of the ruling class and compiled a graph showing how every single year the government paints a little rosy picture and yet it never eventuates. The graph shows each year’s budget’s projected net debt over the next couple of years and the big thick line is the actual audited net debt figure.

Notice how the first two budgets are literally baldfaced lies; “shhh, no tears now” tier-level budgeting.

The subsequent four budgets are all election footing budgets as the ALP infighting meant Wayne Swann, Julia Gilliard and Kevin Rudd tried every trick possible to make it look like the trajectory of net debt was flattening or even reducing. The subsequent budgets by the coalition at least acknowledge that there is going to be upward trend, but they still pretend that the trend is flattening because they know that telling the people the truth about the truth is no way to win an election.

People, there is no stopping this train with our current societal paradigms. Einstein said that compound interest is the 8th wonder of the world but I don’t think that we are in for a wondrous time. Particularly because all this debt is accruing despite the fact that the stockmarket, economy and private debt growth have been strong since 2010, that means that even in perfect conditions the government is running up the red on the ledger to keep standards of living high enough to bribe voters, whilst facilitating looting of the nation by public-private partnership oligarchical types.

In the 2012/13 MYEFO the government said that “Net debt is now expected to peak, in nominal terms, at $144.9 billion in 2013-14”; in 2013-14 the actual figure came in at $211.1 billion, and guess what it didn’t peak at this point either. Federal net debt as of 30 June 2016 was $305.4 billion, more than double what the government said it would peak at! And it hasn’t peaked yet! Now they say it will peak in 2019-2020 at $375 billion…If you still believe them, if you still hold goodwill towards our rulers, then I have a bridge to sell you, and it’s in Brisbane and it’s called the Goodwill bridge.

It’s not just “fudging the numbers” when the projections are consistently, recklessly rose-tinted, and are being used to support the notion that continued growth of the state and state spending will not have disastrous effects on the future of this nation.

At present our government is stealing from the standard of living that future Australians will enjoy (or should that be endure?)

From Library of Congress, National Child Labor Committee Collection.

Our children will suffer from extraordinary cuts to standards of living and government services such as health and education, whilst also being subjected to all time high levels of confiscation/taxation when this all comes home to roost. The government will eventually be forced by the international debt markets to crush the future working tax payers of Australia between a rapidly rising tax bill and the rampant inflation caused by the government seeking to print or stimulate its way out of the crisis.

Do you know what the name is for a system whereby people are forcibly deprived of the fruits of their labour for their entire lives? What about when they are monitored by a tyrannical and parasitical overseer? What about how they are entered into this system upon birth? (And their children will be too, assuming they can muster enough prosperity to allow for fertility.) What about how the owners of the system will bid, trade and hold security over people like a merchant does for commodities?

It’s slavery.

Federal debt, where it is not being used to build capital infrastructure, is simply the sale of Australian children into debt slavery by the government to fund the wishes of the net tax takers.

I truly do hope that one day the good and productive people of this nation will not tolerate the sale of Australian children into slavery. Is that too much to ask in 2017?

  • Call me cynical. But I think I am more a realist.

    After many years of seeing jaded governments roll in and roll out: they all sell the same old tired lies.
    Promises, promises: their stock in trade snake oil.
    How many times have you heard a core election promise from a pre-election Politician and as soon as they are elected, they do more triple somersaults than a circus clown and declare it’s not possible now.

    When was the last major national infrastructure project in Australia ?

    Ummmm, the Snowy Mountains scheme, generations ago.
    Are there any nation-building projects going on now ?
    I don’t count the NBN, as that is a complete debacle and has retrograded many people to a lower tier internet service, worse than Kenya.
    Roads ? No. Australia’s roads are still goat tracks.
    What about the high speed bullet train from Sydney to Canberra ?
    Not happening: it’s been discussed for decades.
    Can you think of anything ? I can’t.

    Every jackass Australian government kicks the can down the road.
    Our standard of living is going backwards.(unless you are a spawn o’ the Devil politician with generous ministerial entitlements and several investment properties)

    Australia pretty much doesn’t manufacture anything now.
    Our bilious cuckoldy politicians have converted Australia into a laughing stock.
    We sell rocks to China cheap and get back exorbitantly expensive shiny iPhones .
    Any competitive or commercial edge we have gets eviscerated when our IP is stolen by double-dealing Chinese state hackers.
    Greedy swivel tongued multinationals are effectively stealing our minerals and gas, paying zero tax and laughing all the way to their Cayman Island bank accounts.

    Our jellyfish economy now consists of importing huge numbers of refugee jihadis and immigrants to keep the Ponzi scheme economy turning over by house flipping and buying new Chinese made fridges and TV’s from dunderhead Harvey Norman.

    It is depressing, isn’t it ?

    The kids of tomorrow (and today) have been reamed by successive government ineptitude and failures. They will all be (are) wage slaves.

    Ruination: dead ahead.

    • Max Beecher

      It’ll take a big ugly recession to snap people out of this.

    • belt fed 7.62mm

      Some would argue the level crossing removal is enough to vote labor. I say no way! In melbourne we have myki, we forked out not to build a road, we have a desal plant that just sits there sucking money and not supplying water, we close down powerstations, we have ailing public transport where services are always cancelled (usually due to birds shitting on the windscreen), the place is densly populated and congested. We have cement blocks with gaps wide enough to fit cars. We have female traffic lights. Melbourne is the epicenter of safe schools. The state is broke and the few of us lucky enough to afford property are slogged with land tax (stuff Chinese investors don’t pay). But that’s all ok because we are multicultural and have the rainbow fag flag everywhere. We’re as good as fucked.

  • Max Beecher

    Good to see someone addressing our impending financial doom. I agree that there will be hard time ahead for Australians but unfortunately a stark dark recession, with people living in cardboard boxes is the only think that is going to wake people the hell up. The biggest ticket item for the Federal Government is welfare. We have around 1,000,000 working age Australians not working. At the same time, we are importing 250,000 people a year. I see these people everywhere, working in supermarkets, call centers, fast food outlets, office work, taxi drivers, hospitals.
    This insanity has to stop.

  • Razorback

    white privilege…

  • belt fed 7.62mm
  • All of this is deliberate. The end of the mining boom was foreseen long before it happened (and it happened later than predicted). It was one of Rudd’s attack points on Howard in 07. Yet Rudd had no plan to restrain government spending and preserve our position as a nation with minimal national debt. He instead went shopping and ruined what little of a nest egg Howard and Costello had built up.

    Outside of the monopolies/duopolies, cost cutting and competition are as harsher than ever. This means that small to medium businesses are suffering/being culled at high rates. This decreases competition and the tax available to repay debt.

    Inside those cosy corners of monopoly (think water and power)/duopoly and every government tentacle, costs are only increasing. This hits both small business and individual taxpayers. And restrains the economy from growing a larger tax base.

    The inability to address the debt issue is restrained by two factors.

    As noted above, our politicians will keep spending our grandchildren’s money because they want enough terms to get pensions. As well, after retirement Q they will be rewarded with jobs at the (((merchant banks))) and other international companies like Huawei as they so clearly will betray their own country with blinking. It would be against their own long term wealth goals to reduce the debt.

    The second is that our politicians are colluding with the banks to avoid a drop in price levels for land to what they should be. This keeps our land prices at undeservedly high rates and reduces the natural wealth building strategy of saving. People are mired in debts that they may never pay off. If the land prices fell hard it would result in a great recession, wiping tens of billions of privately held debt off and giving the public economy a chanced to start afresh.

  • Karen Dwyer

    And Mr Andrews (the Victorian specimen, not the Tasmanian gentleman) is financially enslaving generations now so that they can be force fed porn.

    You could call it the white slave trade; but Mr Andrews is scrupulously fair – skin colour is no barrier when it comes to peddling smut.