The Left has slowly but systematically closing down all areas of wealth creation in Australia.

Scott Hargraves point about where the government intervenes is also an issue. I would submit that in the ’80s, not only the government but the Unions and society, in general, were happy to throw the whole of manufacturing industry out.

There was no thought to the value, no thought to self-reliance and no thought of the hundreds of thousands of jobs for migrants while they learned the language and joined the culture. It was a government decision to throw out manufacturing and it was wrong because it wasn’t about the cost of manufacturing it was about the supply chain.

Few in academia or government understood manufacturing and its value to the economic, financial, cultural and political stability of this nation. They can say what they like about Trump, but at least he was smart enough to take what value they had left and build on it.

No well run profitable company with a solid balance sheet should be allowed to fail. But there are many that should fail, in fact, they must if we are going to come out of this. This reminds me of a passage in Atlas Shrugged where Hank Reardon couldn’t get a licence to produce Reardon Metal but the old steel companies were being subsidised to make a more expensive inferior product. 

Economic rationalisation killed the value in manufacturing. The result of Hayne will be the death of a significant part of the finance industry. The government continues to try and pick winners.

I tell everyone we should define a problem and then measure it. Government represents 36% of GDP, Mining 12%, Agriculture 10 %. None of that is going to stop. Then we have Finance at 12% working from home. My grandson is doing an apprenticeship and he is still working.

• Tourism 3%
• International Education 2% 

A lockdown is not going to be the end of the world. Even the bloke that I buy my homebrew supplies from is distilling alcohol to make hand sanitiser. The market has a way, assuming the ATO do not go after him.

• Gillard shut down the live meat export industry. I didn’t see people crying. And certainly, there was no government bailout.
• In the late 80’s I had a factory that employed 200 people with borrowings of $3mill. The bank called us in. They said we needed to pay back $1mill within 14 days. No bailout there. 
• It stopped raining for 3 years and the government was just getting around to thinking about a bailout.
• When the clean land act was brought in we were told we had to spend $1mill on a clean-up. No help there.
• Interest rate. Who was there to bail you out when your mortgage went from 6% to 16%? And on the reverse side who was there to bale out those that retired with 18% interest rates in 1990 and had to get back to work when they dropped to 8%.

Ref: Jennifer Marohasy.  https://ipa.org.au/publications-ipa/running-out-of-rice-while-wasting-water