Senator for South Australia
Some days, reading the news only leads to more frustration. I have had a few such days in recent weeks.
The frustration isn’t borne by the actual content of the news but at the length of time it has taken to get past the mainstream media gatekeepers. Like most politicians, the media need a crisis to have developed before they will highlight a growing problem.
The stock market seems to be confirming my fears about a slowing economy with hefty falls in recent days.
The warning signs were there as interest rates were cut to record lows and expectations of more to come. Coupled with the uncertainty over global trade and the internal tensions in China, our economy could be in for a very rocky ride.
With so many domestic and international issues at play, it is difficult to pick the most pressing.
Internationally, the UK has a new Prime Minister who will be charged with leading his nation out of the socialistic and bureaucratic European Union. He will also need to frame a suitable response to the war-like provocations of Iran, who recently pirated a UK ship.
Even though it is the middle of Winter, I have been doing a bit of ‘Spring’ cleaning around the office. It is amazing how much stuff accumulates over thirteen years of parliamentary life.
There are thousands of papers and constituent files and hundreds of books on all manner of subjects. Whilst almost everything provokes memories of battles fought in times past, the books have been the most interesting.
It’s easy to identify problems but much more difficult to provide a sensible solution. Politics seems to fuel the grievance industry with constant demands that the government do something about myriad problems. Often, these problems have little or nothing to do with the government. They are likely the product of imprudent personal or corporate decision making where the result isn’t as hoped.
Those who fail to insure their homes but demand government support to rebuild is one such example. Another is those who chase stupidly high investment returns that are ‘guaranteed’ then blame the government when they lose all their money.
Here is the heads-up on the cause of the next financial crisis: interest rates. No, I don’t mean higher interest rates but lower ones. I know that sounds counter-intuitive because ‘everyone knows’ that lower interest rates are good for the economy, prompting...