The “Experts”
Australia, as with the entire West, is suffering from a cost of living crisis brought on by inflation. What causes inflation? As with every single profession — including digital privacy and cyber security — the so-called “experts” disagree. This is why we should question any person or organisation who cites an “expert” without admission that “experts” — most of whom have PhDs, illustrious careers, etc. — disagree with each other.
Have you ever received a second opinion from a doctor? I certainly have. Multiple times. Automatically and unquestioningly “trusting the experts” is a function of religion, and we do not have a priesthood in the West. Who remembers the claim that Iraq had WMDs? Or that Edward Snowden was wrong about mass surveillance? Or Y2K? What about that time Netflix left out crucial information in its “Making a Murderer” documentary? What “science” meant that drivers in Brisbane needed to wear masks when driving alone? Remember when every expert said Hillary Clinton would beat Trump, and that the Brexit vote wouldn’t happen? This article by Konstantin Kisin gives a good overview of the madness and incoherence of media-driven narratives over the last few years. The “experts” are wrong on a regular basis.
We are repeatedly lied to by the media, our politicians, and our institutions, and we should always be wary of any narrative about which there is little to no dissent.
Australia’s Inflation Propaganda
Milton Friedman, the most famous neoliberal economist, claimed that, “Inflation is always and everywhere a monetary phenomenon”. That is, governments control monetary policy, and therefore inflation is caused by governments printing too much money. Unsurprisingly, economists from the Keynesian school of economics disagree. A more nuanced but brief explanation is detailed here. (I encourage anyone who is interested in economics to read more on this topic from multiple schools of economic thought.)
But what is happening in Australia with regards to explaining the cost of living crisis to the public is a masterpiece in organised propaganda. Australia’s politicians need someone to blame for the country’s economic issues, and no politician in the country wants to talk about Australia’s batshit crazy authoritarianism during COVID-19. Nor does any Australian politician want to link the batshit crazy authoritarianism to Australia’s economic woes. But surely the media will tell Australians the truth..?
What did Australia do economically during COVID-19? We printed money, spent billions paying many Australians to stay at home, “froze” the economy, forced businesses to close down, punished businesses that couldn’t stay open, interrupted supply chains, spent a billion on quarantine centres that barely anyone used, and left Australians to twiddle their thumbs at home… buying products online. Could any of these public heath policies have caused or contributed to inflation? Not according to Australia’s institutions: academics, politicians, thinktanks, and media.
Australia’s institutions have instead repeatedly demonised Phillip Lowe, the outgoing governor of the Reserve Bank of Australia (RBA) for his handling of raising the official cash rate. Very few media outlets have had the courage to say why Lowe needed to raise interest rates: Because of Australian politicians’ and public health officials’ COVID-19 economic policies. The war in the Ukraine and other international conditions of course contribute to inflation. However, Australia’s part in causing inflation in Australia needs to be highlighted by Australia’s institutions.
Never one to skip a beat and promote its ideology, the Australia Institute — the propaganda arm for Labor and Labor’s number one donor, the unions — blamed corporate profits for inflation in a flawed report. The Guardian mindlessly agreed.
Likewise, many media outlets are very angry that Australian banks are making huge profits because interest rates have risen quickly over the last 14 months. Matt Comyn, the CEO of CBA — Australia’s largest bank — is “Hitler of the Week” in the media because of his very high salary, as the media, again, puts the blame on someone else other than Australian politicians and public health officials.
Moreover, Boomers are now under fire for contributing to inflation. But who isn’t under fire? You guessed it: Australia’s politicians and public health officials.
Who’s Accountable?
Apparently no one. Whilst politicians do what politicians do — lie and blame each other — Australians are suffering a cost of living crisis, and many Australians cannot — or are struggling to — make ends meets. Phillip Lowe has faced a grilling by the same media that largely supported Australia’s batshit crazy authoritarianism.
It’s clear that the cause of inflation is complex. However, what is also clear is that politicians and public health officials’ policies and decisions are part of the cause of inflation in Australia.
It would be nice if someone in Australia’s institutions told the public.