[Marxism] Australia: luck running out? | Michael Roberts Blog

John Edmundson johnedmundson4 at gmail.com
Sun May 19 04:27:02 MDT 2019


A comment about Union independence from Labor aside, this GLW article still
seems to see a Labor win as a positive thing . . .

Cheers,
John

On Sun, May 19, 2019 at 6:49 PM Chris Slee via Marxism <
marxism at lists.csbs.utah.edu> wrote:

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> Michael Roberts notes that opinion polls were predicting a Labor Party
> victory in the election.  But this did not happen - the Liberal-National
> Coalition has won.  (There are still some undecided seats, but these will
> not enable a Labor victory.  At best they might force the Coalition
> government into reaching an agreement with some right-wing independents).
>
> One factor affecting the result was a huge media campaign by Clive Palmer,
> a wealthy businessman who spent an estimated $60 million on advertisements
> attacking Labor.  This amount is roughly equal to the combined spending of
> Labor and the Coalition.
>
> On a more positive note, the Victorian Socialists - a coalition of left
> groups and individuals  in the state of Victoria - averaged about 5 percent
> in the 3 electorates it contested, which is much larger than other election
> results for left groups in federal elections in recent years.
>
> Here is an article about the election result by Jim McIlroy in Green Left
> Weekly:
>
> https://www.greenleft.org.au/content/coalition-win-makes-fightback-urgent
>
> Chris Slee
>
>
>
> ________________________________
> From: Marxism <marxism-bounces at lists.csbs.utah.edu> on behalf of Louis
> Proyect via Marxism <marxism at lists.csbs.utah.edu>
> Sent: Saturday, 18 May 2019 10:03 PM
> To: Chris Slee
> Subject: [Marxism] Australia: luck running out? | Michael Roberts Blog
>
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>
> Australia may be a ‘lucky country’ but luck can change.  The economy
> relies on raw material exports and so is vulnerable to any plunge in
> commodity prices and if China were to slow down or the trade war with
> the US really spike, then Australia is vulnerable.  The OECD put it this
> way “a negative external shock cold prompt a sharp cut to incomes, a
> rise in unemployment and downturn in consumption.  This would increase
> mortgage stress and further escalate a fall in house prices.  A currency
> depreciation would also be likely.”
>
>
> https://thenextrecession.wordpress.com/2019/05/17/australia-luck-running-out/
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-- 
The law locks up the man or woman
Who steals the goose from off the common
But leaves the greater villain loose
Who steals the common from the goose



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