Government stimulus packages - an Australian perspective. An article submitted to me and published on behalf of the writer.
What huge responsibility the stimulus giving governments of the world are displaying with their extraordinary economic rescue packages. They could turn out to be our saviours, or even our heroes.
Trouble is, bubble creating practices such as cheap easy credit, margin lending, and a myriad of other leverage vehicles, are approved and allowed to escalate out of control by selfish, top heavy, revenue obsessed governments.
Accelerated demand is enthusiastically encouraged under the growth slogan despite full knowledge that the commodity, asset and debt bubble created will eventually burst, bringing major hardship to their people.
Judging by the way they are bearing gifts and scrambling for their political survival, this latest crisis is an example of extreme mismanagement.
They have had to pull out all stops in order to avert blame, or having to change the rules of their respective monopolies.
Financial wizards have come out of the woodwork in droves to give us their spin on the fastest way out of this mess because the next bubble is their next meal ticket.
They might have to learn to be very patient indeed because the pigs in the trough have reached slaughter weight and the farm’s been run into the ground.
Why is policy allowed to occupy the realm of obscenity before mounting and sustained public outcry is required to bring the status quo back in favour of the common good?
Is the value of decency forfeited purely out of lust for money, or do governments actually experience perverse gratification from the shameful protection of every predatory-parasitic gauging scheme under authorisation?
Either way, this unethical standard of rule has proven itself to be unsustainable and totally uninspiring.
By: Aaron Brooks - Sydney Australia - February 2009