How Australia’s Red Pilling Begun Last Week

Three seemingly disparate events that occurred last week — the RBA raising interest rates, the leaked audio and text messages from Brittany Higgins and the resignation of Victoria’s Chief Health Officer (CHO) Brett Sutton might well spell the start of the true ‘red pilling’, or an awakening, for Australians.

You might wonder how?

It’s obvious how the RBA rate rise matters to everyone.

Then there’s Brett Sutton’s move to the CSIRO which you might applaud or seethe over his legacy on households and small businesses in Victoria.

But what about the Brittany Higgins scandal? Isn’t it just a political smear campaign gone wrong?

Let me explore with you how these events fit into the dire situation our society is facing.

The RBA Governor’s Marie Antoinette moment

Let me start with the Reserve Bank of Australia raising the 24-hour cash rate last Tuesday.

That event itself wasn’t much of a surprise. It’s the events after that are worth shining a light on.

Right after raising rates and socking them to the ordinary Australian, the RBA Governor Philip Lowe spent the night in an extravagant function with the outgoing WA Premier Mark McGowan, State Opposition Leader Libby Mettam and several key business leaders. That dinner cost around $25,000, paid for by you and me.

If that’s not enough, the next day, he put his foot in his mouth at the Morgan Stanley Summit when he said:

‘If people can cut back spending, or in some cases find additional hours of work, that would put them back into a positive cash flow position.’

So this is what he did.

He increased your financial burden, then headed off to an extravagant night out at your expense. The next day he told his buddies that you need to work harder and spend less to make ends meet.

Talk about rubbing it in your face!

For months people have called for Lowe’s replacement given his poor handling of monetary policy where he misled Australian borrowers, stating that there’ll be no rate rises until 2024.

I can imagine these calls are going to escalate following last week.

Victoria CHO Sutton off to the CSIRO, what legacy will he deliver?

Next up, the Victorian CHO Brett Sutton resigned from his post last Friday to take up a position with the CSIRO as the Director of Health and Biosecurity.

While his departure wasn’t falling on one’s sword, as was the case with WA Premier Mark McGowan, he recounted how he faced crushing pressures. During his time, he made certain decisions during the crisis and he, like most public health officials, will look back at and regret.

His noble words may instil some sympathy. However, I can imagine it not only offered little comfort to the households and businesses that were irreversibly affected by his policies, it might’ve possibly rubbed salt on the wounds, especially when you go back to his insensitive rhetoric and introduction of the ‘no jab, no job’ strategy.

And, of course, let’s not forget his role in the ‘slug gate’ controversy.

As Sutton steps up to the role at the CSIRO, one would wonder whether he’d truly learn from his experience and leave a more constructive legacy.

Sex, lies and a sordid coverup — Was the Higgins scandal a case of political interference?

Finally, the scandal surrounding Brittany Higgins and Bruce Lehrmann took another turn last Friday. Leaked text messages and audio recordings pointed to Brittany Higgins conspiring with her partner, David Sharaz, and various media figures to mischaracterise the incident for political gain.

These messages have put Finance Minister Katy Gallagher and other ALP senior figures in hot water. While Prime Minister Anthony Albanese is standing by his colleagues, there’re calls for a parliamentary referral to determine the truth surrounding the event.

The material has raised further scrutiny against Lisa Wilkinson, the ABC, and other news outlets for their role in presuming Bruce Lehrmann’s guilt. It is seen as an obstruction of the legal process and even influenced public opinion leading up to last year’s Federal election. For months, the media acted as judge, jury, and executioner as it swayed the public to agree with its narrative. After jury misconduct resulted in the court case not proceeding, the public began to question the prevailing narrative and whether there was an exercise of due process.

Regardless of one’s political leanings or opinions about this scandal, these leaks and text messages revealed the rot within the Australian Government and the judicial system. The mainstream media is also implicated in undermining its independence and public trust.

A stable society disintegrating at an alarming pace

I hope that you can see how these three events highlighted how Australia, which was considered a liberal democracy, is in shambles.

For years we’ve lived in the illusion that we’re a prosperous and socially stable nation. It wasn’t perfect, but we were able to say that we weren’t like a third-world dictatorship.

The media that are supposed to inform the public not only neglected their duty to report facts but were caught acting as an agent for a political party to attack their opponents.

These three events last week will likely serve to rudely awaken many Australians.

What should you do now?

It’s hard to try and fix this system. You can write letters to your local and federal MP or petition the courts to right the wrong.

But don’t expect that to achieve much.

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Instead, you need to learn how to protect your wealth first and then branch out and find opportunities to earn some profits.

Once you’ve secured your boat, you can try to help those around you.

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While the headlines are pointing to inflation fears subsiding, that’s not the case at the grocery store or with your utility bills!

Dividend stocks are once again looking attractive as the interest rate is rising. Look for opportunities here. The retail sector may be retreating as consumers cut back on spending. However, utility stocks such as APA Group [ASX:APA], Telstra Group [ASX:TLS], and Transurban Group [ASX:TCL] could become more attractive since their services are indispensable.

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Finally, there’s one thing that won’t let down Australians — resources. Our land abounds in nature’s gifts of rich and rare. So, you may consider exposing these companies to your portfolio with Diggers and Drillers — our resources newsletter.

Our country’s corrupt class is clearly showing their colours. However, try not to focus too much on that.

There’re profit opportunities in this rigged system. Focus on these and you’ll keep your head above the water.

God bless,

Brian Chu,
Editor, The Daily Reckoning Australia