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Michael Roberts notes that opinion polls were predicting a Labor Party victory in the election. But this did not happen - the Liberal-National Coalition has won. (There are still some undecided seats, but these will not enable a Labor victory. At best they might force the Coalition government into reaching an agreement with some right-wing independents). One factor affecting the result was a huge media campaign by Clive Palmer, a wealthy businessman who spent an estimated $60 million on advertisements attacking Labor. This amount is roughly equal to the combined spending of Labor and the Coalition. On a more positive note, the Victorian Socialists - a coalition of left groups and individuals in the state of Victoria - averaged about 5 percent in the 3 electorates it contested, which is much larger than other election results for left groups in federal elections in recent years. Here is an article about the election result by Jim McIlroy in Green Left Weekly: https://www.greenleft.org.au/content/coalition-win-makes-fightback-urgent Chris Slee ________________________________ From: Marxism <[email protected]> on behalf of Louis Proyect via Marxism <[email protected]> Sent: Saturday, 18 May 2019 10:03 PM To: Chris Slee Subject: [Marxism] Australia: luck running out? | Michael Roberts Blog ******************** POSTING RULES & NOTES ******************** #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. ***************************************************************** Australia may be a ‘lucky country’ but luck can change. The economy relies on raw material exports and so is vulnerable to any plunge in commodity prices and if China were to slow down or the trade war with the US really spike, then Australia is vulnerable. The OECD put it this way “a negative external shock cold prompt a sharp cut to incomes, a rise in unemployment and downturn in consumption. This would increase mortgage stress and further escalate a fall in house prices. A currency depreciation would also be likely.” https://thenextrecession.wordpress.com/2019/05/17/australia-luck-running-out/ _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/chris_w_slee%40hotmail.com _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
