Those who do not understand history are bound to repeat it. The boys at macrobusiness have proven particularly resistant to learning history… and so particularly prone to repeating many many stupid mistakes.
Forget knowing the ancient history and the classics, the boys seem to have a special teflon coating, both inside and outside, that enables them to completely deny the facts that are in everyone else’s living memory. Straightforward facts about how the EZFKA works, what the government is there for, what monetary policy does. Even when those straightforward recent historical facts are pointed out.
One of the facts that has recurred again and again, only to be denied/forgotten by macrobusiness again and again is that the EZFKA is run under a liberalist facade whereby:
- political differences in the EZFKA can be reconciled by genteel discussion and debate, without use of force or power, for the benefit of all
- the sovereign power of the government of EZFKA (in its various manifestations) is constrained by hallowed and sacrosanct constitutional documents that curtail its power and ensure that it acts in everyone’s best interest
Ahahahahahhahahahahahahhaha! It’s funny even just to type this rubbish out. Of course, actual historical experience shows that:
- Genteel discussion is a distraction, kabuki theater that distracts gullible EZFKA residents, like the macrobusiness boys by filling column space every day with inconsequential issues. Genteel discussion is not the mechanism that is used to deal with anything that actually matters to anyone that matters.
- Power, including economic power can not be ignored. Indeed, power is routinely wielded to preserve the economic position of the powerful and their allies.
- Sovereign power is not constrained by anything. The constitutional documents and rule books go out the window when dealing with any existential crisis.
Here are some pertinent windows into macrobusiness’s complete ignorace of how EZFKA works:
Over a 2-year timeframe
So, the RBA was meant to be out of bullets, houses were meant to be 40% cheaper, shares 50% cheaper, fiscal support constrained and rating downgrades…. let’s see how they’ve fared:
RBA not out of bullets:
The ASX is up 12%
Fiscal support massive and unconstrained:
As to house prices… well… we have written about Macrobusiness complete capitulation on this previously:
And today, comes another instalment of humiliation, as Macrobusiness begins worshipping former nemesis and bowing to the cultural hegemon, embodied in Scott Morrison (EZFKA PM):
So, how can you get everything so completely wrong, so completely predictably. It’s by ignoring the nature of the EZFKA, and continuing to pretend that the liberalist facade is reality. That it is a society governed by rules, that the sovereign power of the government (including ministers, RBA, APRA, ASIC) is limited by charters and constitutions and conventions. That genteel debate is the process of arriving at socially beneficial outcomes.
The actual reality is, of course very different. This is quite obvious, if one is not completely bone-headedly determined to ignore everything she sees:
- The EZFKA is not interested in socially beneficial outcomes. The EZFKA is interested in preserving economic power of the economically powerful.
- The EZFKA government is not constrained by conventions or charters or constitutions. These all go out the window when things get serious (witness: APRA policy, RBA interest rate policy, RBA printing, responsible lending de-legislation, Dicator Dan’s months of police state).
- Genteel debate is a distraction. (Dher)
So whilst we started by dismissing the classics and the ancient history, we do find cause to wander back there. The actual rules of the EZFKA were written long ago. They are recorded concisely, for example, in the Melean Dialogue:
The technology of liberalist dress over cultural hegemony to obscure and reinforce the above is a more recent invention, of course, but it has deep roots.