Australian Treasurer ignores reality

Australia's Treasurer, Scott Morrison seems determined to ignore economic reality. He spruiks about this country's "25 years of growth" as if he can keep it going for another 25 years. Economic cycles dictate that growth cannot be exponential. Periods of strong growth are inevitably followed by collapse or recession. History demonstrates that. Governments can prop up growth by stamping around the world in an endless cycle of war, providing a short term stimulus by spending on armaments. The Roman empire couldn't keep going, neither will the US or Australia.

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