Government Running a Ponzi Scheme (Malcolm Roberts)

Labor is running a Ponzi scheme covering up a per capita recession. It’s bringing in huge numbers of new arrivals to increase spending to hide the per capita recession. They are running Australia's economy like a Ponzi scheme, relying on a flood of overseas arrivals to prop up GDP numbers with their spending.

That increased spending adds to inflation and that contradicts the Reserve Bank’s (RBA) strategy of raising interest rates to cut spending in an attempt to stop inflation.

The government's high level of new arrivals into Australia goes against the RBA strategy and forces the RBA to further increase interest rates. Albanese's government is letting Australians suffer in a per capita recession and worst decline in per capita income of all the developed nations.

This is why life for everyday Australians is continuing to get worse. Excluding tourists and short stay visas, there are 2.3 million visa holders in the country competing with Australians for a roof over their head.

One Nation proposes net zero immigration where Australia only replaces the numbers who leave the country until the housing supply, essential services and infrastructure can catch up with the demand.



The other factor in play here, with the increasing cost of goods, is sky high energy costs. Without cheap base load power, and cheap petrol, the cost of producing and transporting things goes up. The solution is to increase domestic oil production plus refining and to build a number of modern coal fired plants until such time as a viable alternative is ready to take over. Western countries were made prosperous thanks to cheap energy, and they will be made poor when the cost of producing things strips people of their savings.

[Posted at the SpookyWeather2 blog, November 24, 2023.]