Our politics would work much better if abusive partisanship was finally dumped from the public debate, writes Alexander Downer.
There are two things we like to do at the beginning of a new year. First we like to make a series of New Year’s resolutions that are almost impossible to keep. And secondly, we tried to predict what will happen in the following year. So every year starts off with this difficult-if-not-fruitless exercise!predictions for 2022 were good but not great!
After all, the great COVID-19 panic that led to an estimated $14 trillion being spent on COVID-19 related measures worldwide will take a long time to wash through markets. Don’t believe incumbent politicians when they tell you inflation and rising interest rates as a function of the Ukraine war. That had some impact, but the core cause lies in the massive COVID-19 spending binge and quantitative easing by central banks.
Many think Biden will contest the presidency on the grounds that he is the Democrat with the best chance of winning. I’m not sure.
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