TOWARDS THE ABYSS WITH MALCOLM FRASER

Anyone who takes the little trouble necessary to understand how the present finance economic system is being operated can predict with absolute certainty that all attempts to reduce inflation must result in higher unemployment and business bankruptcies. Increasing the money supply, either by Government or private enterprise investment, must result in greater inflation.

We have no evidence to suggest that Prime Minister Fraser or his Treasurer, John Howard, have any understanding whatever of how the system they claim to be "managing" operates. The Prime Minister is a victim of both his ignorance and a philosophy summed up in his own words, "life was not meant to be easy." The Founder of Christianity said that He had come that the individual might enjoy the life more abundant. Mr. Fraser says he has come in order that figures in ledgers, termed the "national deficit", take precedence over the reality of actual or potential abundance.

The policy of "restraint" would have validity if Australia were a poor country. But such a policy is wicked madness when, for example, the building industry is reducing activity with every day that passes while an increasing number of people, many of them young marrieds, cannot obtain their own home. In the absence of any new policy to increase consumer purchasing power, the restrictive policy imposed upon the States at the Premier's Conference last week, is guaranteed to increase unemployment and force business organisations to cut profits even further in an endeavour to stay solvent.

Not surprisingly, Prime Minister Fraser did not like the question, asked at his press conference following the Premiers' Conference, about his attitude towards unemployment. One of Mr. Fraser's firm pre-election promises was that unemployment was going to start coming down during the first six months of 1978. When asked if he would make a prediction about unemployment early next year, the Prime Minister declined to answer and the conference was declared closed. It is clear from this that the Fraser-Howard-Treasury policy is to impose the "tough" budget, which Mr. Fraser talks about.

It is significant that Mr. Fraser does not even apologise for what he is doing and proposes to do. He keeps on insisting that the "sterner economy" being operated has resulted in a "healing process". Like a cracked record, Mr. Fraser continues to talk of "hard earned gains" and says, "Interest rates would continue to fall". Mr. Fraser predicted a 2% drop in interest rates at the Federal Elections. We have not noticed any falling interest rates. Interest rates for the banks are fixed by the Reserve Bank. Everyone with a bank overdraft knows that there has been no reduction in interest rates.
The only immediate policy, which can now halt Australia sliding further into the abyss of a major depression, and revolution, is an increase in consumer purchasing power without at the same time stimulating greater inflation. The first obvious step is the abolition of the Sales Tax.

BRIEF COMMENTS

The continuing anti-Nazi campaign on television has been described as the longest running film in history. Hitler died in his Berlin bunker 33 years ago. The continuing anti-Nazi campaign is greatly appreciated by the Soviet Union whose leaders since the days of Lenin, followed by Stalin, have demonstrated that there are no depths of human depravity which they are not capable of reaching. If Western Europe is to be defended, West Germany is essential for that defence. What good purpose does the continuing flood of anti-Nazi films, and books serve? There is no such flood of films and books exposing what the Soviet strategists are about. An occasional exposure is drowned in the flood of anti-Nazi films. The much-publicised film "Holocaust" was produced in the United States at a time when the Zionists needed a new wave of propaganda. Increasing numbers of Jews have become increasingly critical of the policies of Israel and are openly opposing Zionism. "Holocaust" rehashes myths long since exploded by objective historians. The antidote to "Holocaust" is The Hoax of the Twentieth Century by Dr. Butz. $5.50 posted.

The history of most dictators reveals that in order to take their victims' attention off internal problems, they direct attention towards external "threats". National-Country Party leader Doug Anthony has joined with Prime Minister Fraser in attacking the European Economic Community in the most undiplomatic language. Addressing the National Country Party, N.S.W., conference last weekend, Mr. Anthony described the E.E.C.'s policies as "economic vandalism". He said that Australia must "fight" to break down the trade walls built around a " selfish, inward looking, self interested Europe."
The E.E.C. is doing exactly what it was established to do. We pointed out at the beginning of the E.E.C. what it was all about. Instead of "fighting" the E.E.C., and fanning the growing, and dangerous flames of trade war between the non-Communist nations, Mr. Anthony's Government would be more constructively employed correcting Australia' s internal finance economic problems and showing the free world that it does not need to enter into trade "fighting" with anyone.

HIDDEN INDIRECT TAXES

The following excellent editorial, just brought to our attention, appeared in Dollars and Sense, Melbourne, April 28th:
"The Australian governments have the nasty habit of not stating the indirect taxes we are subjected to. An example (an harassing one at that) occurred last Tuesday when I flew back from Brisbane and found myself seated next to an oil company executive on his way to a management meeting in Sydney. The subject quickly turned to the steep price increases for petroleum products. The pump price for premium grade petrol averages around 80 cents per gallon (Apparently they still talk in gallons.) Of this amount, 30 cents per gallon goes to the government that is 37½%. My little four cylinder consumes about $10 per week, the government collects $3.75 per week, or an additional $195 per year just for the use of petrol. I was further told that the bulk petrol price is about 0.11 cents per gallon. The difference between that price and the pump price is about 69 cents. 600% difference.
Could we ask the government to state in printed form the exact amount it charges for every item we purchase? This is done in the U. S.A., and at least we would have some idea how much each of us contributes to the upkeep of our public service."

Indirect taxes are the most insidious of all taxes because they are generally hidden. If Australians are to protect themselves against the destructive programme now being openly imposed by the Fraser Government, they must make a start somewhere. The abolition of the iniquitous Sales Tax would be a major first step away from growing disaster. Every On Target reader should have a supply of Anti-Sales Tax brochures and be collecting signatures over the next eight weeks.