Stick to ‘tax and spend’ plan says Labor President Wayne Swan. An amazing statement reported on the front page in large print by the Weekend Australian. This seems to Henry a suicide note from the Labor Party, and good luck to them. The government is not without its problems with household consumption still low and only resource exports and government spending keeping ‘growth’ in the black. And if growth is measured on a per capita basis, Australia is very close to a per capita recession.
I am hoping someone will recalculate growth in terms of per capita GDP since the mid 1980s. This calculation, I feel sure will show at least three per capita recessions and probably another one about to be underway. A massive tax and spend program by a future Labor government would just about wreck Australian growth.
The world outlook is darkening. Germany and the UK have negative growth, China and the USA are slowing significantly and while there are signs of sense that may end the trade war there is manifest danger from current trends and no guarantee that good sense will prevail.
Apart from tariff barriers, the USA is demanding a change in China’s habit of stealing intellectual property. President Trump must be wracking his brain to see how he can find or create a lever to prevent theft of Intellectual property. Could he declare intellectual property legislation is over, and while he is at it, let new drugs be put onto the market without delay and FDA's current protectionist policies. The FDA’s new role could be to sue drug companies on behalf of patients who are killed or made worse by dud drugs not properly trialled by the drug companies. Trouble is, President Trump, if there is no legal 'Intellectual property protection', how can one stop China from simply obtaining the latest drug (or jet engine, or clever bit of computer code) and copying it. We need an idea of genius, Mr President.
The first round of AFL finals meant the Doggies and Essendon are out, both flogged roundly.
Geelong looked very fragile when flogged by Collingwood and likely to go out when they play West Coast next weekend. Hard to pick the winner of Brisbane Lions (belted by Richmond) and GWS, a strong winner over the Bulldogs.
My pick is Richmond Vrs Collingwood for the Grand Final and Richmond will be a strong favourite.
The only close match was Collingwood vrs Geelong but while scores were low, in my view Collingwood had Geelong on the ropes from early in the game. Only Dangerfield fought well, and I just wish he'd come to Caaaarlton!
Tonight I hope to see Australia win the Ashes, with Mitchell Stark, Josh Hazelwood and Patrick Cummings removing the remaining 8 English batters. (And nice if Lyon got into the game also.)Then we can have real fun watching the final Ashes test ay The Oval.