@ChrisMayLA6
Thank you for your reply Prof.
Quite apart from the required rearmement of Uk-EU in the face of increasing aggression, is it possible that this push to Military Keynesianism could also benefit (or be an integral part of) both the UK Labour and the Australian Labor agenda to re-industrialise their economy?
There is a $18B AUD investment in submarine manufacture and infrastructure in South Australia and more investments in HMAS Sterling naval base near Perth to accommodate those boats (UK, US and Australian) as well as cross investments in UK and US shipyards, plus other initiatives under the AUKUS Tier Two agreements (Notably the Ghostbat and Ghostshark projects as well as missile technology and manufacture). There is a lot going on here.
We have also recently seen govt bail outs of failing steel mills and critical refineries (mostly due to intra-corporation loans moving money out of Australia — which is a scourge that ought to be stopped) underwriting that re-industrialisation and shoring up domestic supply lines.
If we had answers, I’m sure these would also be on the table for both our govts and we’d clearly see the results percolating through the economy. Unfortunately, the prevailing economic systems are only about ‘more of the same’. Runaway financial markets, super profits, and the concentration of wealth, widening the inequity divide which is unhealthy for any economic system.
And then, there’s the GenAI financial bubble, ready to busrt upon the global markets. We’re in a pickle alright.