Think 1st: Shock-and-Awe of Massive Ordinance of ALP Debt Blast
Mr Rudd's debt based stimulus package is shaping up as an economic disaster. In record time, he has built a Massive Ordinance of ALP Debt Blast (MOADB) or simply a Mother of All Debts Bomb. The ALP's pursuit of Socialistic strategies, has wiped out Australia's debt free status, pulverized the massive surplus, destroyed Australia's reputation as finest economic and fiscal steward, and cracked Australia's resilience against global downturns; all inherited from the conservative government. Mr. Rudd's policies appear to drift towards the Whitlam dream of a benevolent state; reliance on state's handouts, supremacy of State over individual's rights, social engineering of individual's behaviour, collectivization of individual thoughts, denigration of individualism and fostering class antagonism. Labour's claim of looking after the "hard working families, single moms and the working class" is classic Marxist rhetoric. The entrepreneurs are labelled, albeit subliminally, as speculators and bourgeoisie, who are to be blamed for the "excesses of rampant capitalism", precipitating the current economic crisis, necessitating massive debt programs to stimulate the economy and to save the jobs of the struggling, hard working families.
Whilst raising taxes is the favourite left's favourite economic past time, right now, debt funded stimulus adventure seems to be most favoured instrument for wealth spread "redistribution". And so, ALP has lit the MOADB fuse. Unless however, the fuse is cut, Australia will be treated to an unimaginable economic Shock-and-Awe blast, leaving a deep financial crater in the Australian economy, cutting the living standards of Australians, and leaving deep scars in families' prosperity psyche. The dire consequences of such reckless debt blast however, will be borne not only by future generations, but also by the current one. Once the debt blast is set off, the collapse of the nation's prosperity will be swift, deep and far reaching, and higher taxes will become a justifiable instrument to manage the massive national debt. The proposition that the current generation somehow will be shielded from the ill conceived spending adventure, whilst the future generation will get over it through unprecedented future growth is beyond fanciful, it is plain stupid. It is a political and economic nonsense; nonetheless, it is a dangerous one. It is loaded with ideologically driven predictions about unprecedented growth. In fact Mr. Rudd's spending adventure, coupled with a lofty rhetoric provides only a short term relief from the economic pain. Make no mistake; the current generation will suffer just as much if not more than the future generation, if the ALP is not stopped from detonating its MOADB. At the next Federal election, Australians could defuse ALP's MOADB, just as they diffused the Keating debt blast in 1996. Otherwise as Abraham Lincoln once said: "Elections belong to the people. It is their decision. If they decide to turn their back on the fire and burn their behinds, then they will just have to sit on their blisters."
Left unchecked, ALP's MOADB will set back Australia's current and future prosperity progress for decades. Moreover, future generations will call the current generation to account, and rightly so! For it was under this generation's watch that ALP's MOADB was detonated. The future generation will not carry all the burden of heavy debt alone. Today's generation's retirement benefits, healthcare and other social services will be cut as a price for its electoral misjudgement. It is still not too late to defuse ALP's MOADB, however, Australians must sober up and not join in with the Socialist elite in the intoxicating champagne parties, for as a wise saying goes: "It is champagne at night and real pain in the morning".
Igor Palmer - director of Knowledge Diffusion Research LabGWP Magazine Issue #25, July-August 2009
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