So. Hands up all REAL entrepreneurs. Where are you? Not to mention our record-profit banks … politicians …

What should we do with our dead/dying auto industry? Something!!
I say build electric vehicles, and make them affordable, and stop bending over for Australia to get shafted by the overseas manufacturers.

Well, This Is What I Think

Morgan, car manufacturing The Morgan. Apparently we can’t make cars like this in Australia.

So it’s been a rough couple of years for the car industry in Australia.

A while back we lost Mitsubishi. Then we lost Ford.

Then a couple of months ago, General-Motors Holden.

And yesterday, Toyota.

Jobs to be lost (including the components market) are in the region of 50,000 – 100,000, depending on whose estimate you believe. Invisible effect on that on banks, local services, whitegoods, retailers, and the public purse? Impossible to calculate, but huge.

And this is in the most successful capitalist economy in the world, right now.

The Tesla. Apparently we can't make cars like this in Australia. The Tesla. Apparently we can’t make cars like this in Australia.

The blame game is well underway, of course. Books have been and will be written on the consummate failure of successive Governments and the business community to grapple with the endemic problems of the local industry – a…

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4 thoughts on “So. Hands up all REAL entrepreneurs. Where are you? Not to mention our record-profit banks … politicians …

  1. This always baffles me. I would not brand me as anything on a economic philosophy scale. But shouldn’t one as a capitalist accept the downfall of a company or a whole branch as completely regular?

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    1. I completely agree Jona – the whole concept of businesses being ‘too big to fail’ is bleeding entire economies dry.
      For a long time, I have thought and said that these companies (usually large profit-making enterprises, sometimes multi-national in size) have been making mega-profits, and then ‘hard times’ hit, so – where has all ‘their’ money gone? Why do they need tax-payer bail-outs? Well, of course, the profits have gone to their investors, their executives, etc. But surely they have a contingency vault somewhere? A smart business would have money tucked away for a rainy day, wouldn’t they?
      Apparently not. They rely on government support to keep them afloat when the floor falls away…
      In this current case, in Australia, we have the ‘Liberal’ government who is often dictating to people that they need to be more self-reliant, and so they are being true to that philosophy (selectively, though). Before the September election , they promised to provide an ‘assistance’ grant to the Cadbury chocolate factory in Tasmania, in a marginal electoral seat (conveniently). It won them some votes, helped win them the election.
      Then, once in power, when GM and then Toyota announced they were abandoning vehicle manufacturing in Australia, unless they were financially supported by the taxpayer, the government simply said ‘meh, whatever, off you go….’, as if to say they didn’t care if the country lost some of its manufacturing capability. When a food processing plant (part-owned by Coca-Cola) cried poor, they got nothing, until the more local State government put some cash in to keep them running.
      The nation has been blackmailed by international companies who put their hand out for tax dollars, and then leave the country when the money stops coming, and we have fed this process for decades, and now we will be devoid of many industries.
      It’s a conundrum…
      And then, yesterday I learned that the Fox Corporation (Rupert Murdoch) in the US, who helped distribute propaganda through their dying newspapers here to get the current government into power, received an $882 Million tax rebate. Like, tell me that wasn’t simply an invoice for services rendered….

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      1. Oh shit you’re from Australia 😀
        I only recently learned, that you have the most hilarious comedians. Like Brendon Burns of Steve Hughes.
        Yeah, the whole election thing was a great scam, but everybody knew beforehand what was going to happen, when Murdoch decided to join the party. Sad but that’s the way the cookie crumbles for those that have money and still want more.

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      2. Spot on! There are a lot of very funny people born or imported here. In that, we are blessed. At least we can laugh.

        And, just for the record, this was not Murdoch’s first foray into election-rigging. He’s an old hand at it. He plays both sides off against each other, to suit his business needs at the time – and maybe to serve some ‘higher master’. Who knows – he’s just a pile of steaming horse shit!!

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