Emergence Of The Banana Republic – Australia

Maintaining Australians’ standard of living is going to get harder and harder in the future as the ‘banana republic’ label re-enters the national conversation.  Malcolm Turnbull, the new PM, may (should that be ‘will’?) not be able to retain that smiling face for too much longer.

Photo: Turnbull, an advocate of digital innovation in an economy that’s barely growing. Photographer: Christopher Pearce/Getty Images

Are his shoulders actually broad enough to hold up the economic burdens they are scheduled to bear for the country?  Not if the pony in our one-pony economy, China, continues to slide into recession.  And there are no other willing ‘nags’ to strap into the harness that I can see.  I guess you and I, well, you, mostly (I have nothing much to lose), will have to take up the slack.

Any which way, it is going to be a bumpy journey on a bumpy road, from here on in.

This post inspired by: Australia Pays the Price for Depending on China

Canada is in much the same situation: Canadian dollar hits 11-year-low in its worst losing streak since 2013

But then, so is the rest of the world, as I intimated in a post earlier today: When Will The “Nothing Is Happening” Crowd Finally Wake Up?


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