Spot on with the Victorian debt figures. That $791k per hour is absolutely bonkers, like a fiscal trainwreck in slow motion. I kept thinkin about how MMT proponents act like inflation is just some abstract concept until people cant afford rent or groceries. The machete buyback comparison really nails it though, governments are exceptional at performative spending that sounds good but solves nothing longterm.
This is really a non-issue; federal government interest payments are a mere $19B a year!
Spot on with the Victorian debt figures. That $791k per hour is absolutely bonkers, like a fiscal trainwreck in slow motion. I kept thinkin about how MMT proponents act like inflation is just some abstract concept until people cant afford rent or groceries. The machete buyback comparison really nails it though, governments are exceptional at performative spending that sounds good but solves nothing longterm.
Governments enact policy not as consequence but objectives. We no longer have to wonder what those objectives are.
Quite a sad state of affairs really.
Absolutely. Its almost like economic education isn't on the curriculum... by design!