Mannkal Economic Education Foundation


Will they make the same mistake?

Ron Manners

21 December 2011

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I think about the young ones
in generation Y -
their enthusiasm and energy,
their ability to reason why -
They can clearly see the burden
which hasn’t reached them yet,
passed down by past generations -
that burden’s known as ‘Debt’.

Now how on earth did it get this way,
us ‘oldies’ are not all dills -
Were some of us looking the other way
or brain dead on too many pills?
Did they fall for the same old story,
known as the ‘political curse’ -
spending to buy the peoples’ votes
which, of course, makes everything worse.

“You can live at someone else’s expense”,
goes the old political song,
“Give us your vote, you lovely folk
and you‘ll see we will do no wrong.”
“We are handing out these millions
while someone else is paying.”
Remember the bandit, Robin Hood,
had a very similar saying?

If we calculate what is owing
with some really simple accounting,
you will see that the debt, when the bill comes in,
will be huge - and constantly mounting*.
Will some feel guilty, knowing their votes
were bought with the embezzled money
of a generation yet unborn?
The tragic result? - Not funny!

Meanwhile our Generation ‘Y’,
having started in a hole,
will hopefully vote in cynical vain
and so avoid selling their souls.
Having recently contacted and questioned,
a number of young ones I know,
they made me feel quite optimistic
that the future will reap what they sow.

*At Sept. 2011 Australia’s net foreign debt was $740.5 Billion.
Dividing by the population = $32,494 per person.
+ Total household debt was $1,100 Billion = $48,302 per person.
Grand Total, per person = $80,796.

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