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?)
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?
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?