Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22
Best Metaverse Tech Stocks Investing for 2022 and Beyond - 14th Jan 22
Gold Price Lagging Inflation - 14th Jan 22
Get Your Startup Idea Up And Running With These 7 Tips - 14th Jan 22
What Happens When Your Flight Gets Cancelled in the UK? - 14th Jan 22
How to Profit from 2022’s Biggest Trend Reversal - 11th Jan 22
Stock Market Sentiment Speaks: Are We Ready To Drop To 4400SPX? - 11th Jan 22
What's the Role of an Affiliate Marketer? - 11th Jan 22
Essential Things To Know Before You Set Up A Limited Liability Company - 11th Jan 22
NVIDIA THE KING OF THE METAVERSE! - 10th Jan 22
Fiscal and Monetary Cliffs Have Arrived - 10th Jan 22
The Meteoric Rise of Investing in Trading Cards - 10th Jan 22
IBM The REAL Quantum Metaverse STOCK! - 9th Jan 22
WARNING Failing NVME2 M2 SSD Drives Can Prevent Systems From Booting - Corsair MP600 - 9th Jan 22
The Fed’s inflated cake and a ‘quant’ of history - 9th Jan 22
NVME M2 SSD FAILURE WARNING Signs - Corsair MP600 1tb Drive - 9th Jan 22
Meadowhall Sheffield Christmas Lights 2021 Shopping - Before the Switch on - 9th Jan 22
How Does Insurance Work In Europe? Find Out Here - 9th Jan 22
MATTERPORT (MTTR) - DIGITIZING THE REAL WORLD - METAVERSE INVESTING 2022 - 7th Jan 22
Effect of Deflation On The Gold Price - 7th Jan 22
Stock Market 2022 Requires Different Strategies For Traders/Investors - 7th Jan 22
Old Man Winter Will Stimulate Natural Gas and Heating Oil Demand - 7th Jan 22
Is The Lazy Stock Market Bull Strategy Worth Considering? - 7th Jan 22
METAVERSE - NEW LIFE FOR SONY AGEING GAMING GIANT? - 6th Jan 2022
What Elliott Waves Show for Asia Pacific Stock and Financial Markets 2022 - 6th Jan 2022
Why You Should Register Your Company - 6th Jan 2022
4 Ways to Invest in Silver for 2022 - 6th Jan 2022
UNITY (U) - Metaverse Stock Analysis Investing for 2022 and Beyond - 5th Jan 2022
Stock Market Staving Off Risk-Off - 5th Jan 2022
Gold and Silver Still Hungover After New Year’s Eve - 5th Jan 2022
S&P 500 In an Uncharted Territory, But Is Sky the Limit? - 5th Jan 2022

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Labour Market Economics Sank the Howard Government

Politics / Austrailia Nov 27, 2007 - 10:52 AM GMT

By: Gerard_Jackson

Politics Although it is probably correct to point to rising interest rates and Howard?s admission that he would resign if re-elected as contributing to his defeat, it is still very likely that an autopsy will reveal that the principle cause of the Liberal Government?s demise was its grotesque mishandling of labour market reform. Trying to explain to Liberal politicians what was needed to successfully sell the benefits of free labour markets was an impossible task.


Last week I stated that the Liberal Party?s failure to interest itself in economic ideas put it in grave ?danger of losing the coming election?. Well, they lost. Rather than educate themselves Liberal politicians took what they thought was the easy way out and outsourced the battle for labour market reform to the HRNS (H. R. Nicholls Society). This turned out to be a mistake of the first water.

An honest appraisal leads to the conclusion that morality, economics and economic history overwhelmingly support free labour markets. Unfortunately the H. R. Nicholls Society is run by a bunch of idle incompetents who successfully sold the Liberal Party a phony bill of goods. Fr餩ric Bastiat (1801-1850) pointed out more than a 150 years ago:

The worst thing that can happen to a good cause is not to be skilfully attacked, but to be ineptly defended.

For years I have been warning Liberals that the HRNS is political poison and that the advice it gave the Liberals would be to the detriment of their electoral success. And so it was. By the time some Liberal politicians woke up to the H. R. Nicholls Society it was too late, the damage was done. ( Why the H. R. Nicholls Society might help sink the Liberal Government ). The Labor Party, unions and lefty journalists had successfully painted Howard as anti-worker. Not at all difficult when one considers the contempt in which the HRNS holds ordinary Australians.

However, it needs to be pointed out that no one held a pistol to the head of the Liberal Party and ordered it to take the HRNS's lousy advice. I guess what is particularly distressing about this shabby affair is that not a single Liberal politician — including staffers — realised that the HRNS was serving up snakeoil. Not one of these politicians even sought an alternative opinion. By the time most of them had arrived at the opinion that the HRNS was a danger to their parliamentary pensions it was too late to take evasive action.

The HRNS is so arrogantly blind to its severe shortcomings that Bob Day — a man who sits on the HRNS board — had the effrontery to run as a Liberal candidate for the South Australian seat of Makin ? which is now a Labor Party seat. That the Liberal Party was stupid enough to select Day is another reason why they lost the election. Any party that displays this kind of rotten judgement is certainly not fit to govern.

Julian Sheezel, director of the Victoria State Liberal Party, is another symptom of what seriously ails the Libs. This clown mindlessly parroted HRNS nonsense about free labour markets generating economic growth and productivity. So dim is this character that he came to even believe that capital accumulation was impossible if labour markets are badly hampered. When I pointed out that this view was at variance with history and economic theory I was basically told to drop dead. ( Liberal Government?s labour market reforms looking shabbier — so who?s to blame? )

Sheezel made it very clear that only influential people would be allowed to address the Liberal Speakers Group: ordinary members are not good enough. And this is the bloke who is being touted as a future senator! Sheezel's behaviour highlights another problem with the Liberal Party — snobbery. For the likes of Sheezel and Michael Kroger it is not what you know that matters but who you know.

Micheal Kroger
Micheal Kroger?s vindictive
behaviour and shabby
ambitions have wrecked
the state Liberal Party.

Because the Liberal Party at the state level is a bloody shambles Australia now has wall-to-wall Labor governments. Victoria used to be called the ?jewel in the Liberal Crown?. Thanks to Michael Kroger, a founding member of the HRNS, the state is now a Labor stronghold. Kroger is an arrogant and duplicitous man who holds no official position in the Liberal Party. Yet he stacked the administrative committee of the party with his stooges, put his mouthpiece in charge of state Liberal Party headquarters, stripped a branch of its voting rights, forbid branches from contesting seats, and made it verboten to form new party branches.

The last charge is particularly interesting. The party is bleeding members yet Kroger has made it impossible to expand the membership by forming new branches. Why? Because he knows he will not be able to control them. In other words, he deliberately crippled the state party. And for what? So that he could use what was left to advance his own odious political interests. And while this was going on the Liberal Government stood by and did nothing.

After another crushing defeat by the state Labor Party Kroger put his tactical genius on public display with the opinion that the Liberals do not have to worry because the Labor Party always screws up the economy and when that happens again the electorate will come crawling back. What a brilliant strategy: let?s just hang around until the Labor Government stuffs things up and then the Libs will be back in clover. No wonder the Labor Party now dominates Australia?s political landscape to the point where we have virtually become a one-party state.

It might be awhile before it sinks in that Labor?s stunning victory probably handed it a poisoned chalice. The ALP and the unionocracy ran against industrial relations reforms that they claimed damaged living standards and jobs. But unemployment is at its lowest level in more than 30 years. This means that if Howard?s labour reforms are scotched and this is followed by rising unemployment then Howard will have been vindicated.

However, they if don?t abolish the reforms then they will have betrayed their base. Moreover, a recession is coming. Now if Rudd and his union mates raise the cost of labour above its market rate ? a near certainty with this gang of economic illiterates ? then unemployment is bound to return to its previous high level.

As for a Liberal Party recovery, a lot of housecleaning is needed if it is to regain the confidence of the electorate. A good start would be Kroger?s expulsion ? an unlikely event, unfortunately. But until the cancerous influence of the likes of Kroger have been removed from the Party it will very likely spend a longtime in the political wilderness.

--------------------------------------------------------------------------------

Why the H. R. Nicholls Society might help sink the Liberal Government

Liberal Government fails on labour market reform and the right throws a tantrum

Michael Kroger’s shabby ambition is destroying the Victorian Liberal Party

Michael Kroger gets a savaging while the Victorian Liberal Party crumbles

Why is the Kroger Liberal Party giving Bracks’ Muslim blasphemy laws a pass?

Will Michael Kroger’s corruption sink the Victorian Liberal Party?

Michael Kroger rigs a candidate’s selection and the cowardly Liberal Party of Victoria caves in to this thug’s corruption

Marginally stupid? That’s a question for Michael Kroger’s Victorian Liberal Party

By Gerard Jackson
BrookesNews.Com

Gerard Jackson is Brookes' economics editor.

Gerard Jackson Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in