Chicken Chalmers hides failure behind Woke Domestic Product index

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This is beneath contempt:

Australia’s first national “wellbeing framework”, to be released by Treasurer Jim Chalmers within weeks, will provide about 50 indicators of how Australians are doing, that will then be tracked over time.

The Measuring What Matters statement will be around the themes of “healthy, secure, sustainable, cohesive, and prosperous”, Chalmers said in a speech in Melbourne delivered late Tuesday.

“Measuring What Matters is about getting a better sense of how our people are tracking – what we’re doing well and what we need to do better,” he said.

The wellbeing framework “will help us track our journey towards a healthier, more sustainable, cohesive, secure, and prosperous society that gives every person ample opportunity to build lives of meaning and purpose”.

Chalmers said the traditional economic metrics – GDP, income, employment – didn’t tell the whole story. Other things also mattered.

What a steaming pile of woke balderdash. Other things don’t matter at all when you’re making everybody poorer.

Chalmer’s Woke Domestic Product (WDP) may not have been designed to hide his apocalyptic failure as an economic manager but that is what it will do.

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Then again, maybe it was designed precisely to hide crashing real incomes:

And crashing GDP per capita:

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Nobody said that the post-pandemic economy didn’t have its challenges. But a Labor Treasurer that has set about destroying per capita growth and real wages via maniac mass immigration and energy policy cowardice is not what was required, either.

Hiding the greatest fall in living standards of Australian workers in modern history behind a herbal smokescreen is so cynical that I don’t know where to look.

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.