Every day for the last fifty years the Australian economy has been on the verge of collapse.
Not a week goes by but that the financial media offers dire warnings about increasing house prices, falling house prices, the high value of the Australian dollar, the low value of the Australian dollar, disastrous pay raises, long overdue play raises, the flight of capital, the threat of incoming capital, the burgeoning public deficit, credit card victims, exploited workers, impossibly high interest rates, perilously low interest rates, and on and on and on and on.
The slightest change in the cost of shoes or rent of 0.001% is described as a ‘massive leap.’ Any increase is crippling and any decrease is devastating.
Ad nauseam, indeed.
‘Wolf!’ has been cried so loudly and so often and in such contradictory terms that I have developed lupinophobia. Figure it out, Mortimer.
While all this nay saying occurs, the GDP, the GNP, calories eaten, the Per Capita Income, life expectancy, population growth, household consumption, superannuation savings, they have all increased to historically high levels and far above that of 95% of the world’s population. Most people in the Lucky Country are lucky enough to live like kings and queens compared to most of the rest of the world. compared to a their grandparents, compared to the entirety of history.
My conclusion is that hysteria is the only register for the journalist, who is completely detached from reality. Alternative facts have long had roots.
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