A terrible deception has been perpetrated on the Australian people. We have been led to believe that we borrow our own currency from foreign nations, that the money gathered from borrowing and collected from taxing, funds spending.
It’s simply not true. And why is it important for us to know this? Because, empowered with this knowledge we can change the way our country is run. We can call out our politicians for their deception, their ignorance and force them to address the issues that are most important to us.
Read more at: The Australian Independent Media Network
When we hear that a politician has abused his/her expense entitlements, or that federal cabinet has decided to carry out a postal survey costing $120 million, we throw our hands up in despair and cry out, “that’s taxpayers’ money you’re wasting,” and ask why isn’t this money being spent to build a hospital or a road or better still, to give aged pensioners a bit extra?
The devaluation of peoples’ hard-earned money is what Australians fear most. People fear inflation. Never mind the crime rate, political corruption, nuclear wars, family violence, pestilence and the like, inflation is the king of fear factors.
So, inflation has gone down further to 1.3% for the year to September 2016 from 1.7% in the first quarter of 2016. This is against the RBA’s target rate of 2-3% and all the economic boffins are turning their eyes toward the Reserve Bank guessing as to whether Governor Philip Lowe will reduce interest rates further to 1.25% on Cup Day.
During a recent Q&A with Adelaide University’s Economics lecturer, Dr Steven Hail, I asked several questions about the much misunderstood subject of Australia’s foreign debt position. Steven has a Ph.D. in economics, from Flinders University, and Bachelors and Masters degrees in economics from the London School of Economics. 
Long term economic stagnation, such as we are facing now, poses serious social risks for all nations currently recovering from the GFC. Unemployment, underemployment, a lowering of living standards and greater inequality will, if not checked, eventually lead to civil unrest.
Starting a new political party is not that difficult. The recent surge in start-ups demonstrates this. It’s largely just a matter of paperwork. Getting it off the ground, however, is something else. Being heard and supported in great numbers though, is often a bridge too far.
