“There’s a small French book, ‘In Praise Of Treason’, where they prove that treason is part and parcel of politics. To succeed, you have to lie. If you say what you think, no one will vote for you.”
A few facts.
Courtesy of the RBA and the ABS.
Australia’s Gross Foreign Liabilities: $2.2 Trillion
Australia’s Net Foreign Debt: $750 Billion
Australia’s Net Income Deficit: $11 – $14 Billion per quarter
Youth unemployment rate (15-19yo): 24.5%
Our Foreign Liabilities are over $2 Trillion. We owe 3/4 of a Trillion dollars in debts to foreigners. As a nation, in terms of trade with the rest of the world we are going backwards at a rate of between $11 and $14 Billion every 3 months. And a quarter of our young people are unemployed.
Now, to the picture of our debt-driven future. Be sure to watch it. With your eyes open.
via Zero Hedge (bold in original, my underline added):
The following rather stunning documentary provides a critical insight into what Europe (and Argentina once again) could well be progressing towards. There is a reason we highlight the ‘scariest chart in Europe’ as that of youth unemployment and with the central banks printing money at ever increasing paces and the next round of global competitive devaluation beginning, the debt slaves will suffer ever more. In 2001, Argentina collapsed; after many years of apathy in the country, the insurrection exploded. As TopDocumentary notes, the spontaneous revolt of ‘faceless’ people meant saucepans were being banged in every neighborhood.
What happened to Argentina? How was it possible that in so rich a country so many people were hungry? The country had been ransacked by a new form of aggression, committed in time of peace and in a democracy. A daily and silent violence that caused greater social disruption, more emigration and death than the terrorism of the dictatorship and the Falkland Islands war.
Ever since independence, almost 200 years ago, Argentina’s foreign debt has been a source of impoverishment and corruption and the biggest scandals. Since the first loan negotiated by Rivadavia in 1824 with the British Bank Baring Brothers, the debt was used to enrich Argentinean financiers, to control the finances and empty the country of its wealth.
This foreign debt always went hand in hand with big business, and with the complicity of nearly every government, from Miter and Quintana to Menem and De la Rua. The policy of indebtedness gave rise in Argentina to generations of technocrats and bureaucrats, who favored banks and international corporations over their own country. Educated at Harvard, Chicago, Oxford or Buenos Aires, their portraits hang in the official galleries.
Our own generations of technocrats and bureaucrats have long favoured banks and international corporations over our own country.
Exhibit A: our foreign debt-financed, world-leading housing bubble. Enslaving and impoverishing millions. For the benefit of the government-guaranteed, record profit-making Big 4 banks (that is, for the benefit of their Top 4 majority foreign shareholders, in particular, HSBC, JP Morgan, and Citicorp).
Exhibit B: the mining sector. And the so-called “mining super profits tax” in particular. A classic example of treason – yes, treason – by our own politicians (see Swan’s Anti-Australian Rant A Smokescreen For Treason ). For the exclusive benefit of 3 monolithic, majority foreign-owned international corporations.
Here’s another picture of our debt-driven future. Courtesy of the world famous investor, Warren Buffet.
In just a few minutes, it neatly drums home a little known reality. That our own “little island” has, for many decades, been on the same path depicted in Mr Buffet’s clever little cartoon.
This IS Australia:
“Treason has phenomenal political power, precisely because it’s treason. It’s insidious, it sneaks up behind you, without warning, where you least expect it. Otherwise it wouldn’t be treason.”