Fugayzi, fugazi. It's a whazy. It's a woozie. It's fairy dust, it doesn't exist. It's never landed. It is no matter. It's not on the elemental chart. It's not fucking real." Mark Hannah
Just touching base. I had an inspirational lunch meeting yesterday with a some 'heavy hitters' at the Spring Street Supper Club. It felt a little bit naughty, but it was legitimate business and oh so good (Happy Birthday Con).
It got me blue sky thinking outside the box and I've been doing some heavy lifting this morning to hammer this post out. The elephant in the room has me under the pump, but I have skin in the game, so I'll push the envelope and try to make sense of it all. Let's drill down, reverse engineer and reinvent this wheel.
The Cat is out of the bag. DapperDan, please stop using 'biz jargon' to justify your use of our Chinese Corona Credit Card. You're barking up the wrong tree sinking taxpayer money into the hard ball Construction industry. It's low hanging fruit. It's a win-win for the synergistic ALP/Union love affair, but it's going to bite us on the ass down the road. A $24.5 billion CCCC brings total state borrowings to Circa $70+ billion. I'd love to get a Copy of the 'Belt & Road' deal. Surely it's publicly available. I'll get on the blower to Xi Jinping and ask him to fax one through so I can deep dive into the T's & C's. I'd love to drill down into the Covenants. Apart from the fact that a big whack goes to offshore multinationals and imported materials the dollar that remains in Terra Australis literally gets buried in the ground. Call Father Bob to read the last rights and prepare an obituary. 'He was a good dollar, loved by all who had the brief pleasure to know him. He had a heart of gold, may he rest in peace'.
If I wasn't too busy sculling jugs at Naughtons, I occasionally turned up to Stormin' Norman's famous Economics lectures. I learnt how to make an excellent paper plane and I vaguely recall the principle of GDP equalling private Consumption + gross investment + government investment + government spending + (exports – imports). Here's an out of the box thought bubble. Tap our CCCC on private Consumption to stimulate the economy. Start a revolution and set a dollar free to live a full and happy life. Give it to me and I'll buy a loaf of bread from the baker, who'll buy some meat from the butcher who'll buy a Candle for his wife and take a 10% tip for the ATO each time. Buy your missus something nice.
A massive chunk of our CCCC is going into infrastructure to allow greater flow of human traffic around the The 'Big V'. Cars, trams, buses, trains and bikes need roads, rails and lanes. It's an expensive business and I wouldn't have thought a high priority during economic armageddon. The modellers forgot that human traffic is a market like any other. It goes up when we are bullish and down when we have a sore head. Covid-19 has the Car market doing 'doughies' right now and the forward thinkers have the traffic Commute model tanking.
DapperDan, please don't max out our CCCC on infrastructure and Construction spending. Before you hammer the last nail in the 'Big V' coffin, I want you open the beer tap on Consumption. Give some mouth to mouth to the Hospitality industry and save the economy in the process.
C the point?