Take That, Bitches: Australia Burning.

A week into spring and Oz is burning in more than one way.

(Source. ABC News: Alistair Kroie)

Less than four months since the May 18 election victory of the COALition, predicated on their self-proclaimed reputation as matchless economic managers, the R-word is no longer the preserve of the perma-bear, chronically depressed, wild-eyed post Keynesian preaching on his pilgrimage to Mount Kosciuszko.

About a week ago federal Treasurer, Josh Fraudenberg, economist extraordinaire and master’s degree from Oxford that he is, was lecturing Australian CEOs about the virtues of investment: if they invested their companies’ profits in new technologies, instead of lining their shareholders’ pockets -- Josh explained -- there would be plenty money to raise their employees’ wages.

Of course, famous for the subtlety of his intellect, Josh didn’t mention that bad-luck word, but one can’t help suspect he was trying to avert that recession everybody’s been talking about: he was, that is, invoking CEOs’ “animal spirits”.

Now if I were a CEO and I were worth my considerable salt, I would be reluctant to pump my employer’s money on investments when a recession might be on sight. Right now, my “animal spirit” would be rather subdued. For -- believe it or not Josh -- recessions are not the best time to invest one’s employers’ money: they may never see any return on that and they may not be happy with me.

If I were a CEO, Josh, my employment and my pay would not be linked to my my tender love and concern for my workers’ well-being or to my patriotism; they would be linked by contract and by the logic of the market to my ability to line my shareholders’ pockets.

This, Josh, is how it works: a CEO invests in an unprofitable white elephant and in the worst case scenario, she gets sacked straight away. Even if she isn’t, share prices won’t react well, and her pocket and that of her shareholders shall hurt. Worse comes to worse, a corporate raider or a vulture fund comes and buys her company. Should I draw a picture?

Just cut the crap, Josh. Managing the economy is your job. That was your sales pitch, that’s why people voted for you, and why you are paid good money (over $433K a year, according to ABC News).

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A few weeks back Fraudenberg gave banksters the frowning of a lifetime. (What’s with Fraudenberg and Donald Trump? News flash, geniuses: this ain’t no command economy.)

It didn’t work. And he learned the lesson generations of workers have been taught: you don’t frown to your bosses.

His bright idea? He decided to politely lecture them.

Call me pessimist, but somehow I get the feeling that won’t work either.

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Fraudenberg wants the pay that goes with being federal Treasurer, the perks, photo opportunities, TV appearances, the networking; he doesn’t want the responsibility. His responsibility -- in what passes for his mind -- is to deliver a budget surplus, because, well, budget surpluses are good, because … uh … hmm … well … because budget surplus!

And hellbent to deliver a budget surplus he is, even if Centrelink has to steal the last cent from “welfare assistance” recipients. Even if he sends the so-called Lucky Country into recession (the first in almost thirty years).

Now, in a delicious twist of fate, he wants to place the responsibility for what seems a likely recession squarely on the RBA. Serves you well, Philip Lowe.

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After Australians sacrificed the environment in the altar of economic growth, it turns out economic growth may not be coming any time soon.

But after one of the warmest and driest winters in history, NSW and QLD are already alight, literally. Spring just began and the prospects aren’t good:

(Source)

And I understand you guys are mad at those cretins. The question is whose fault is this: theirs or yours for electing them?

(Source)