Further to my post of last year– Victoria is financially insolvent. It had a deficit of 10bn for 2019-2020, and the deficit for 2020-2021 has come in at 14.9bn. Thats a cumulative deficit of nearly 25bn, or a current shortfall of $4,000 for every man woman and child in the state (also likely increasing by $2,000 per year). There is no way we can pay that off. Even if you tripled the immigration scam (which involves us grabbing 50k upfront from each migrant, but then having to deliver each extra person 500k in extra infrastructure over their lifetime – can you see the flaw in this plan?). And we’re now being squeezed anyway by the tidal wave of immigration we’ve had since 2005 (the one off payment has been banked, and these immigrants- who knew- are using up roads, hospitals and other infrastructure).
Its really bizarre. The state has flogged virtually all of what remained of its core assets- the Titles Office, set up PEXA a compulsory settlement scheme (and there are still real questions to be asked into how that was set up). Its privatized the monopoly port and now even VicRoads, and we look like setting up private road charging (Gee I wonder which large roads provider they’ll pick to toll us on roads already built?).
At the same time as this vicious far right privatization, we have also hired (and are sill hiring) an army of largely useless public servants. What they do is a mystery given most functions of government have been flogged off, what they main seem to do is virtue signal constantly while bringing in more ‘implementation plans’ and hire worthless $300 per hour consultants who steal your watch to tell you the time. There is nothing left for these bureaucrats to do (apart from create work for each other) yet they are still employed. Don’t bother applying for a job for them, however, as all jobs are ringfenced for their mates and relatives.
Oh well, as long as the wage and super are paid, what dues the lazy public servant care? They know they can’t be sacked.
We are bombarded with pointless feelgood ads from the Daniel Andrews government. Again, given they have flogged off virtually every aspect of government, what is it exactly they are trying to signal? A more accurate ad would be ‘Victoria. We’ve flogged off the Port, the Titles office, now the roads- but we’ve got wobbling chins when we do it so thats ok’.
Don’t think that there will be a natural reaction to all this, with mass sackings/spending cuts/or tax rises to pay for it all . Remember, there is no wise base of citizens who realize that you actually have to eventually balance the books. Everyone just acts in their own self interest, whinges about tax while voting themselves more and more largesse and jobs from the public purse.
An absolute almighty bust is coming. Victoria is broke beyond words.