Can a jellyfish become a prime minister?

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I guess if a personality disordered fruitcake can become PM then why not a jellyfish? That appears to be the reasoning of Anthony Albanese’s Labor today as it again stabs blue-collar workers squarely in the back:

  • Shadow cabinet will support the Morrison Government’s $130bn tax cuts for the rich.
  • It will not support any continuation of the “lamington” tax cuts for the poor.
  • The decision is linked to Morrison criticism of the VIC budget tax hikes.

The Australian is reporting this as a “firming” decision so there may be some scurrilous journalism at work.

Even so, I have no trouble believing the story. Albanese Labor is a jellyfish. If you prod it, it will shift to a new and more comforting position, so long as you’re not part of the working classes.

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At this stage, the Labor manifesto is not “Liberal lite” so much as it is more Coalition than the Coalition could possibly manage, supporting:

  • mass immigration to crush wages growth, boost house prices and destroy living standards for all but a few property billionaires;
  • property tax giveaways to support high house prices;
  • no nominated JobSeeker increase;
  • tax cuts for the rich while reducing tax cuts for the poor to pay for them;
  • reduce fiscal spending for budget repair, meaning more tax hikes for the poor, and
  • support coal in NSW and QLD.

The only thing missing from this Howard/Costello agenda is throwing some refugee kids into the sea.

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If you give the Albo jellyfish a little poke, I am sure that will be forthcoming too!

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.