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Originally Posted by bobthebilda

Well Bill, all you need to do is come up with a plan

Let me try. We continue on our current course. High AUD, one-way open markets, high wage and entitlement, high regulation, high taxation for domestics, plus real incentives for entrepreneurs to manufacture overseas and import here will mean more and more domestic manufacturing closures. That won't matter too much until minerals prices fall, or China diversifies its supply base, and the current mining CAPEX ends.

Australia wakes up in debt, with a crushed AUD, without a manufacturing base, without as beneficial offshore earnings from mining production which as we all know is cyclical.

Some people bitterly realise Australia had a real red hot go at securing intergenerational wealth but blew it on consumption and housing with leverage and in the meantime allowed its productive industry to vanish. Hardship like what the US is going through ensues. A total about-face in how we view our employability, entitlement and worth will have to occur before change can take place, and is most likely borne by our children. Policies change and Australia begins to invite investment, setting up as a low cost, low tax, industry friendly location to produce. Manufacturing thrives.

If this end sounds familiar it's what we had and built before we started tearing the foundations for manufacturing prosperity down. History is cyclical.