I am stumbling for words. Ross Gittens. Economics Editor of The Sydney Morning Herald. What a buffoon.
In his most recent “contribution”, Gittens observes - Why Albanese probably won’t win majority government at the next election. There seems to be an undertone in Gittens’ column that such a result is a bad thing.
Irrespective, let’s go to the “analysist” of the Economics Editor of The Sydney Morning Herald. According to Gittens, the cause of inflation, and thus our cost of living issues is:
In a market economy, when our demand for goods and services exceeds the economy’s ability to supply them, businesses solve the problem by putting up their prices.
TBF - to be fair, this is mostly correct. He fails to mention the role of government in increasing the price of delivering its services and the automatic indexation of fees and charges. But this is where the Gittens’ Keynesian buffoonery kicks in:
The economic managers then seek to weaken our demand by squeezing households’ finances so that they can’t spend as much.
According to Gittens’s, his acolytes and their ilk - the solution to inflation is demand suppression. Of course it is because, according to these fools, the solution to poor economic performance is demand simulation.
But right before their eyes is another solutions, one however that is philosophically antithetical to this cast of clowns. Government policy to enhance production and to enhance supply. You know, list Jean Baptiste Say said:
It is the aim of good government to stimulate production and of bad government to encourage consumption.
And how does government stimulate production? It cuts taxes. It cuts government spending. It cuts regulation. It gets the HELL OUT OF THE WAY like was done in the 1980s and 1990s to manage inflation.
But the problem for these people is that they don’t want the government to get out of the way. That would burst their bubble in the belief that government exists for those outside government.
The solutions to economic ills are proven and clear. Less government - everywhere and everyhow.
I thought that perhaps Stephen Spartacus may have been a bit harsh about Ross Gittins, so I clicked through the link to his Silly Moaning Herald article to read it and thus judge for myself. However, the SMH paywall slammed shut in my face, thus denying me that privilege - so I will never, never know.
If the people who run the SMH had any marketing nous, then they would understand that if you want to gain new customers then you have to offer at least an introductory taste of the wares that they are offering, but ‘No’ – their arrogant view is hand over your money first or bugger off. If I were a SMH staffer then I would be looking seriously at another career, before their SMH flagship sinks.
This little episode illustrates yet another structural defect of the corporate ‘news’ media – a legacy medium that is now well down the road to perdition and eventual commercial failure, which in no small way is due to the betrayal of their readership base by virtue the SMH’s policy of ongoing deceptive silence about the humanitarian disaster that the Covid genetic injectables are wreaking on the medical industry’s victims – which is most of us.
If only we had politicians in this country who would get out of the way. Politicians are only in parliament to manipulate the population for their own ends, namely power over us.