Phi wrote on Dec 22
nd, 2020 at 11:51am:
In 1950 Australia's population was about eight million people. The Government had a small debt that was entirely eliminated by 1970. In 1950 Australian's owned almost all of the country. The idea of selling its land and other assets to foreigners was not only frowned upon, but considered treasonous.
The total value of Australia's assets in 1950 is almost impossible to determine today, but was certainly enormous, so much so that EVERY Australian would have been at least a multimillionaire, perhaps even a billionaire. The title "Lucky Country" in those days wasn't a cynical jab, but a practical reality.
Then came Gough Whitlam. He insisted that Australia was SO wealthy that there was no need to bother with earning more money; the problem was how to redistribute its enormous wealth equitably. The trouble is that a rock in the ground is worthless; but if it's an iron rock it can be sold for cold, hard cash. So to turn the country's potential wealth into actual wealth, stuff has to be sold. LOTS of it.
And so the selling began. The Foreign Investment Review Board (FIRB) was established in 1976 to advise the Government on such matters, to ensure that foreign ownership was minimized and in the country's interests. Wealthy individuals flocked to Australia bringing "foreign investment", a phrase that soon had a delicious ring for those eager to accept "bribes on the side". Politicians, public servants, senior businessmen and wealthy criminals all realized that a veritable cornucopia of unlimited personal wealth lay ahead if the "right conditions" were established.
Enter Bob Hawke. In 1983 he changed the role of the FIRB from monitoring and limiting the foreign ownership of Australia to promoting it. In that role it achieved "success" so outstanding that the Federal Government soon ceased publication of foreign ownership figures in order to avoid embarrassment. Today no-one knows how much of the country is foreign owned, and the government certainly has no intention of disclosing it.
Australia now has the highest per capita debt in the world. In 2016 every man, woman and child owed A$31,758 on behalf of the country, along with their household debts which averaged 188.5% of personal income last year. The former "Lucky Country" is now an enormous debt quarry, and the assets that Australians once owned as surety for their debts are largely foreign-owned.
Australian politicians have truly achieved a WORLD CLASS transformation of the country. The overall debt is so high that, should our income drop only moderately, we'll ALL be bankrupt. Permanently! And about half of our income is from China.
What, then, can be done about it?
A modern, innovative approach is the ONLY answer. Governance of the country and management of its finances must be outsourced to honest, experienced, reliable people. Foreigners obviously, since there are none here.
Singapore does not have a per capita debt; it has a per capita SURPLUS, the largeest in the world. Every man, woman and child has S$152,935 in his or her pocket thanks to their politicians, and most also have personal savings rather than debt.
So why not draw up contracts to govern and manage Australia, and offer them to Singaporean politicians? Ten years guaranteed, no elections, no interference. Just come over here, get stuck in, and do for us what you've done for your own people and country!
Because the VERY LAST THING WE NEED - God forbid - is yet ANOTHER Orstrayun Prime Minister and his lying, back-stabbing, fart-bombing colleagues.
This is utter fantasy. Especially, for those who paid rent and raised children on 15 quid a week in 1956. Why isn't there any traffic in the photographs? Because you had to be middle class to buy a Holden.
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