Pollies Need Kick Up Bum for Slap In Face
With politicians like these, who needs enemies?
ABC News (Australia) reports how our beloved treasurer Wayne Swan was jumping up and down, complaining that banks did not hand on the 0.25% cut on interest rates as offered by the Reserve Bank of Australia. A “Kick up the bum” is what the banks need, he said.
“Certainly it’s not helpful when we’re trying to get everyone in the community working together to deal with this global financial crisis”.
Actually, it’s the politicians who need the kick up the proverbial. It is the politicians who need to wake up to their consciences. They go to such pains to pretend that they are on the side of the public, yet at every turn they make decisions that favor banks and not the people. Guaranteeing bank deposits does nothing more than prop up banks (there are other places to store your cash). Bailing out the unemployed by giving them ‘mortgage relief’ is nothing more than propping up banks (they will be long term unemployed – forever is not long enough for some). The first home buyers’ grant is nothing more than propping up banks (artificially high home prices). All of this at the expense of the tax payer. Poor Mr. Swan is saddened and upset because the banks didn’t give give him the political sweeteners he was hoping for.
It isn’t just banks, of course. The petrochemical industry also has a long history of getting favorable treatment in cunning and shifty ways. Why do we depend on trucking for practically all our land based transportation? Why do people in cities need cars at all? Why is every transportation project a road construction project and not a rail project? The answers to these questions are similar to those about the banking industry.
Australian society is far from being a meritocracy, far from efficient, primarily because of this kind of corruption. Crying poor is utter nonsense. Australia is a nation with a small population sitting atop a veritable gold mine of resources, skills and productivity. It’s only ‘poor’ because, despite how easy it is to do a good job, our politicians are, as always, hell-bent on screwing the people over, failing to manage anything properly, from water resources to money. They would struggle to organize a piss-up in a pub, unless the bankers told them how.
Frankly, it would be in the national interest if the housing market collapsed, because people would finally be able to default on loans which they should never have been given. House prices would finally fall to reasonable values so that those with jobs and families can afford to buy them and own them. It would be in the long term national interest if private debt were all but eliminated, such that banks became places of storing money, not printing money.
There is collusion between government, bankers and the media to make the public believe that everything is okay, that life doesn’t need to change. On the contrary, it is an urgent need for people, especially those living in cities, to think about how much they are dependent on the national infrastructure: electricity, food, water, transportation, education, health. There should be a rush towards independence in this regard, because the current degree of national mismanagement (whether intentional or otherwise) pretty much guarantees that the national infrastructure is destined to fail spectacularly.