We need 1000 patrons to keep me going full time 👉 www.patreon.com/c/MrMitchellHistory Make sure to click follow and to turn noftifications on so you don’t miss our next episodes of Obeid vs Rees👉 open.spotify.com/show/5OcT4DfJ3xtruXI9QaM4wg
Love him or hate him, Keating is about the only politician we've ever had that not only actually had the brain of an accountant and economist, but the balls and nous to stand and explain himself clearly and eloquently. Even as a teenager at the time, he was pretty amusing to watch at Question Time.
What an uninformed or outright malicious comment. Keating literally caused the recession we had to have by overriding the RBA, knowing absolutely zero about the economy because he thought he was a genius. Literally one million people unemployed purely on his whim. Complete moron. People love him because he destroyed the cultural fabric of old Australia and created 'multiculturalism' whatever that is. The boomers that seem to like this most aren't around long enough to see its consequences. Yay no more culture. Now our economy has no manufacturing and is just importing workers from the the third world. Amazing politician. Crediting him for the mining boom and resultant GDP great is ridiculous.
David Day's biography of Keating is perfect at portraying both the positives of Keating, as well as his shortcomings. Definitely a recommended reading on Keating.
@@Thepigfromthepotas is typical with politics, it was actually the result of hard work of Malcom Fraser to destroy Australia. It just takes a year or two to kick in.
Foriegn investment would of dried up and nationalising mining and farming what was created under private enterprise Australia would be a basket case become the Banana Republic Keating warned of.
Nationalisation of farming and mining operations would of resulted in a loss of confidence. The International community would learn contracts would be worthless at the whims of the personalities in government. Foriegn investment would have dried up, Australia would become the Banana Republic Keating warned of.
Hayden didn't voluntarily stand down, he was tapped on the shoulder & told that he'd be replaced by Hawke. This led to his famous 'drover's dog' comment. The coup was far from bloodless, search for Richard Carleton's 'blood on your hands' interview with Hawke, when old Bob lost his temper.
Looks like keating did some great things, but it would be impossible to get anything like that done now. He was lucky, right place, right time, right demographic of voters... Itd be more interesting to know how or why was it done, the who doesnt matter.
That John Kerin moment - GOS vs GOP - happened while my high school class was really getting into commerce and economics - as kids we loved to see an adult fumble, but as students it was great to be in the room to learn it. What followed was the GST battle of the 1993 election - tribalism kicked off in the schoolyard, but for the Chaser generation like me, it was a massive indoctrination into politics in a boiling water pot. All the rivalry of a huge football derby. Imagine it - every kid had an opinion on the GST.
Started apprenticeship 1980, laid off 1982, almost joined the Army just to have a job. Fortunately my old boss got me on as an apprentice with his main rival construction company. Finished 1984. Boilermaker welder, always been able to provide for my family. Today looks like we are going hit rock bottom. Don't think the uniparty are going to steer us clear. We need radical change.
The best Keating documentary since the ABC series. Imagine a politician today clearly explaining and executing their plan for the country and explaining it for the average Australian without having it turn into a high school popularity contest or slandering each other on things other than policy.
Did you think to Google that? The total number of banks in Australia increased to 97 as of June 2024. In the fourth quarter of 2020, there were 99 banks operating in Australia. The number of banks in Australia has almost doubled since 2004.
@miccanical Don't be trite. You know exactly what I'm talking about, and that not a single bloody one of those dozens of other banks comes close to the massive quarterly income statements the big four can brag about. So see yourself out, please.
@@frenzalrhomb6919 I do not want to guess whether you are making the flippant observation, or implying anything deeper. But since we're discussing it... Keating revolutionised Australian banking and even if we still have a 'big four' and they enjoy the market power that seems inevitable in Australia, the Australian banking system is pretty damn good. Anyone who has banked overseas will readily see it. Without constant pressure from the left there is a good chance we'd only have two banks, as in the 80s we had a dozen supermarket chains and now we have two and a half. The banks have had to adjust to, then absorb a multitude of competitors that have come and gone. That's what an actually competitive market looks like. The immediate impact of Keating's reforms was on business and merchant banking, it took longer for consumer banking to adapt. One enormous problem with the Keating reforms was that, he was followed by Johnny Howard. Keating saw the need to adopt certain neoconservative policies, but for Labor it was always a means to an end, a fairer and wealthier society. For Howard, there was no such objective. We were just damn lucky Hawke and Keating lasted so long to really cement in Medicare, consumer rights, and the primacy of federal power in many areas. The Conservavtives had needed many years to destroy these institutions and rights, and turn our young people into "temporarily embarrassed millionaires" who reject the primacy of class in their identity. I will finish by saying, the video alludes to Lee Kuan Yew's quote, but as a geezer, Australia's self confidence as a nation was smashed by the early 80s. We were seen as fat, dumb, lazy and being blown away by emerging economies, especially Japan. It was the opposite of today and a case of needing to find the middle ground between working to be wealthy but remembering why we work hard... for quality of life and to build a prosperous future by that work.
@@miccanicalthere may be more smaller banks but the Big 4 have a huge market share which is growing, especially with acquisitions of mid tier banks like Bankwest, Suncorp and St George
He was HIGH on the List of Australia's WORST P.M./Treasurer. I was talking one day to a Boiler Maker in a large Bankstown Metal (Labour broth pot)Fabrication Business on Edgar St, I mentioned about Keating the Boiler Maker replied "Yes once a year and just before an Election he Ponces through the Bankstown Working man's Club in HIS very expensive ITALIAN Suit and Very expensive FRENCH Shoes... waving his right hand and clenched fist muttering 'Comrades'.... the he no doubt goes to his Eastern Suburbs multi million dollar house and sits talking to his French Clocks". Not bad for a LABOURITE(anti CAPATILIST) even the Marricville Mumbler and his multi million dollar Mansion on the Hill. Trouble is not many want to be HONEST
Albo seems intent on killing the good work of previous Labor governments. Policies like introducing work for the dole for senior citizens undermine Labor’s values. No programs to assist older people to get suitable work, as they transition into retirement. Their penury payments are slashed to discourage them from trying to get ahead via self employment programs. A vulnerable group of older Australians entrapped by policies that offer them no hope and only punishment. Former Labor politicians would be horrified.
It’s deeply disappointing to see policies that abandon the values of fairness and opportunity that Labor once championed. Older Australians deserve support and dignity, not punitive measures that trap them in hardship.
@@ryartdesign2874 Supporting older Australians with dignity and fairness should remain a cornerstone of government policies, not a point of neglect or punishment."
You sound like a bot. And the policies sound like ones that scomo brought in. It never used to be an issue with pensioners as you could get a pension at 60-65. So, Albo had nothing to do with it but it's liberals policies affecting you.
Adequately left wing members of society -- such as your self -- must join the rank and file membership of the Australian Labour Party to OFFSET the influence of the FAR RIGHT ALBONESE -- "Far Right" may use diplomatic methods -- (non-military methods) -- to impose the most vicious and injurious policies. (The "Industrial Revolution" was a violent revolution -- a Far Right revolution.)
@@lllordllloyd No you are mistaken Labor opened the Australia to the world sending manufacturing to low wage countires, remember no child will live in poverty by 2000 Labor and Liberal serve the rich to a greater or lesser degree.
I would love young people to look at 42:45. John Kerin was generally respected. He was a friend of Hawke. But he showed he wasn't across the jargon and nuances of high economics. Keating had been so commanding, this mattered. He was booted from the ministry. Just a few years later, it was revealed that (then Foreign Minister) Alexander Downer had been informed that listed wheat exporter AWB, headed by his personal friend, had been helping Iraqi dictator Saddam Hussein evade United Nations sanctions by allowing money permitted for vital food supplies to be laundered and used for weapons. This was a time when the US was itching to get a war started, which eventually came. Downer just brushed it off, Howard was cool with it (old money Downer, despite being an idiot, is Liberal Party royalty), the Australian media rapidly lost interest. It's a really stark case of how rapidly and completely our poltiical standards declined under Howard, aided by the rapidly-increasing power of Rupert Murdoch.
@@sentimentalbloke185 Seems pretty quaint compared to covering up funnelling weapons money to a mass murdering dictator? One whom Downer was soon telling us had to be taken out in an illegal invasion? One of the most desperate cases of "both sides" I've seen recently.
@@sentimentalbloke185 My point was about the consequences of failure in office. It was about John Kerin and Alexander Downer. Keating should not have been involved in that business, and it was prominent among the issues that cost him the PMship and his career. The public spoke. But, corruption is okay when it's Tories, whether we are considering the internal, media or public response, as we have seen a thousand times. But to be clear, we are covering two separate issues here. And again, you are the king of whataboutism. Whataboutism is very important to Tories, for example when they cancelled out a parliamentary rape and active cover up, by counterposing allegations of a consensual office affair.
Yes Keating did sell us out -- He had a chip on his shoulder -- He was a de facto 'DLP' man -- Far Right -- a fanatical "Anti-Communist" -- Just like Senator 'Joe' McCarthy in the U.S. To quote his Redfern Speech, (1993?), He does not say that the "Ruling Class committed the murders [of the Aborigine during the nineteenth century]' -- The fanatical anti-socialist said "We [the mass of the people -- the only effective opponents of oppression in all forms] committed the murders [of the Aborigine]" (Speech in on the internet, see 'Keating, Redfern Speech') H.V. Evatt was the last adequately left wing Labour Party leader. Rex Connor ought to have succeeded Evatt -- (not damn Calwell.) Whitlam often mocked the heroic left -- mocking the use of the term "comrade" -- and mocking the so-called 'White Australia Policy' -- and creating 'a 'Native Title Act' -- Grandstanding in front of the television cameras in the central Australian desert, sitting down with an Aborigine and pouring a handful of earth into his palm. The Native Title Act was a SYMBOLIC challenge to the socialists -- A rallying call to the far right working class -- the scab class -- the cynical and the petty and the low-minded. The heroic left wing working class men had the highest aspirations for the mass of the people. The heroic left wing working class men wanted far more than an adequate social security system and free universe health services or 'Medibank'. The heroic left wing working class men wanted public ownership of all very large-scale industry and infrastructure -- not for the sake of higher surplus consumption for workers -- but on the contrary for the most morally profound and most idealistic purpose of minimising un-necessary hours of work -- i.e. cutting in half working hours -- while maintaining high material living standards -- as the means of MAXIMISING HOURS OF NON-WORK : The hours in which the working class -- the creative class -- the poetic class -- does its best living
Nah, no more then Gough Whitlam did. Australia's ruling class has this hyper individualised pathology to where each man can exist as an island unto himself.
Now more than ever Australia needs another Keating like Prime Minister so as to revitalize the Australian economy. PM P. Keating possesses so many skills which all the current and past PMs over the last 30 years don't even come close. Top rated PM.
KETAING SETUP HIS OWN DEPARTMENT TO INVESTIGATE THE BEST COMPANIES TO INVEST IN AND TO BECOME A BOARD MEMBER OF, TAXPAYERS ALL PAID THE BILL SO KEATING COULD PROFIT FROM. AFTER POLITIC HE WENT ONTO THE BOARD OF 2 OF THOSE COMPANIES 1 OF WHICH WAS TELSTRA.
Paul Keating wanted to introduce a GST but was stopped by union pressure on the party and PM Hawke. It was considered too radical a step at that time. Big mistake!
Kaeting highly regrets any comparison to Blair or Blairites, how to sell your soul for global neoconservatism made sense in the 1990s. Not so much when the Neoconservatives dropped all operational professionalism after 1997.
Trade deficits do not drain you of your wealth - it’s literally the opposite, you get real resources which are wealth, they get cash - if the rest of the world wants to net save in AUD, that’s their prerogative, and is most likely a function of them wanting to invest in Australia. Otherwise, currency leaving the country puts downwards pressure on exchange rates and makes exporters more competitive if the people now holding the AUD don’t want to buy an AUD denominated security and instead sell it on an exchange. Prior to ‘83 Australia had capital controls, but maintained an independent fiscal and monetary policy, and currency peg. The high trade deficit before ‘83 was a function of the currency peg and the rate at which Australia kept it at. The value of the AUD was obviously too high to maintain balanced trade. That’s why when Keating floated the AUD in ‘83 the AUDs value almost halved.
@ no lol, Keating floated the dollar in 83 lol. My position is literally the opposite of what they taught me at university…I don’t think trade deficits matter at all, in fact I think it’s better for us to import more than we export and if we could do that in perpetuity - that would be a good thing because the rest of the world is giving us their things for money - having a bunch of use values is better than holding cash. This is what the US has done since they ended Bretton Woods - trade deficits and budget deficits as far as the eye can see…
@HahaDamn I have no doubt now you know your stuff. But the current economic system just appears to be like snakes and ladders and we are becoming more and more enslaved as individuals to someone or other's in power's, politically dependent upon a theory.
Great video. 👍 I must say though I completely disagree with some of your economic explanations especially regarding money circulation and inflation. Austrian economics explain cause and effect much, much more accurately.
I prefer the old-fashioned spelling, a (nasty) "c, u, . . ." But his pathological behaviour was made possible by the failure of a representative cross-section of the population to follow the simple, traditional and most basic principle of social life -- that very basic domestic chore -- of joining the Labour Party and attending the branch meetings. By simply being present at your branch meeting on PRE-SELECTION night you are able to introduce your judgement of the SENSIBILITY of each candidate. In other words you are in a sense able to put your gut feeling sense of justice into the parliament and into the policy-making process.
The battler from Bankstown to the distinguished statesman listening to Mahler and talking about the sublime. Really great video mate! Loved how you focused on all the key policy areas. Its really the legacies he has left behind that point to his achievements, not an auto-biography.
In 1940 Australia was caught with no sophisticated industry. During the 50s this was built up with tarrifs in place. Along comes Labour with a mission to destroy it all. Stuff the Workers. 20% Interests rates see Credit Cards. Good History though,
Yes -- Hawke's 1983 (?) Boyer Lecture (short, 500 words?) discusses that in a fair amount of detail. Transcript published by A.B.C. -- (Unfortunately, having made the point that full employment is possible, Hawke then back-tracks in a shockingly cynical and blasé way.)
Yes! The simple reason why the "highly powerful" economies of South East Asia were called "The Asian Tigers" was because the workers had no tradition of working class trust and solidarity -- i.e. Not "Asian Tigers" but Asian MICE -- No worker would call for a strike because he feared being dobbbed in to the boss by one of the many paid 'observers' planted on the factory floor -- and if he were sacked or if his tyres are slashed -- or if he gets beaten-up for being a rebel none of the other workers would back him up. Japanese factor workers are notorious for being broken-up into "teams" -- and each team competes against all the others for a booby prize -- i.e. a BLUE RIBBON -- Your name on a "league table" -- a pat on the head and a smile from the boss -- and a bit of extra cash for being more productive than the other teams! How sophisticated is that?
@richardgreenlees7088 Not really, sophisticated. Australia has nothing to with International industrial relations. Keating himself wasn't a fan of secondary industry and favoured switching from a manufacturing to a service economy. His pivot to Asia, also including sending our manufacturer sector to them.
Probably the only cringe moment of this documentary is when you said "he didn't even have a university degree". Up until recently parliament actually reflected Australians in that it wasn't ram packed with over educated toffs. If only we could go back... Also the Redfern speech was a huge low for Australia, it set battle lines we didn't need to have that have poisoned society since.
The presenter's bias is evident when he downplays the 20% interest rates under Keating's economic mismanagement as being"quite high". Current interest rates, a quarter of that rate, are described as "quite high". 20% is stratospheric and was devastating to most small businesses and farms that rely upon credit for their daily operation.
Yes -- But worse : He is a fanatical, nasty DLP-type Vince Gair "Anti-Communist" The only "good" thing about him is that if you show him in action to one of the young generation -- one of his blistering technical analyses of economic policy alternatives -- it must serve as a great shock to the younger generation -- Enables the very young to see clearly how really poor is the current standard of debate and weakness of personality among the Labour front bench!
Well done ... Young Mr History Man ... When I was young, this all played out before our eyes and ears in Australia's parliament and media ... Excellence 😂
No. Nothing in Australia has changed. We are still fully dependent on the outside world for survival, we still align with the west before Asia, we still have shit leadership, we still have 4 banks that dominate everything, we now have GST, and native title has becoming nothing but a weapon. He achieved nothing positive.
I think you've been brainwashed by sky news. Given Whitlams track record of doing everything for improving Australians lives, vs Trump that only improves billionaires lives. Nothing alike, Whitlam wasnt a bullshit artist like Trump too.
An ambituous man who was frustrated by a better man, and eventually massively defeated by an even better man. Loved by the MSM, whose trendy left opinions he shared.
We need 1000 patrons to keep me going full time 👉 www.patreon.com/c/MrMitchellHistory
Make sure to click follow and to turn noftifications on so you don’t miss our next episodes of Obeid vs Rees👉 open.spotify.com/show/5OcT4DfJ3xtruXI9QaM4wg
Howard killed off the "fair go" Australia and replaced it with "F U I've got mine" Australia.
Johnny Rotten
100%
Correct....
And he built up the military and improved much
I hated what he did with guns
And I loved his immigration policies
Children overboard showed how lying gets politicians further than being productive for the people.
Love him or hate him, Keating is about the only politician we've ever had that not only actually had the brain of an accountant and economist, but the balls and nous to stand and explain himself clearly and eloquently. Even as a teenager at the time, he was pretty amusing to watch at Question Time.
What an uninformed or outright malicious comment. Keating literally caused the recession we had to have by overriding the RBA, knowing absolutely zero about the economy because he thought he was a genius. Literally one million people unemployed purely on his whim. Complete moron. People love him because he destroyed the cultural fabric of old Australia and created 'multiculturalism' whatever that is. The boomers that seem to like this most aren't around long enough to see its consequences. Yay no more culture. Now our economy has no manufacturing and is just importing workers from the the third world. Amazing politician. Crediting him for the mining boom and resultant GDP great is ridiculous.
David Day's biography of Keating is perfect at portraying both the positives of Keating, as well as his shortcomings. Definitely a recommended reading on Keating.
This is the best video covering any Australian political figure on the entire RUclips platform.
Wow very kind praise! Glad it was helpful!
Boy, do I know what 1982 was all about. I'd just finished my apprenticeship and got laid off January 1982. I didn't work again till 1984.
That’d be it! After reading the graphs for a week, strange hearing a person behind the number
It was a shit time Keating really fucked shit up
@@Thepigfromthepotas is typical with politics, it was actually the result of hard work of Malcom Fraser to destroy Australia. It just takes a year or two to kick in.
@@Thepigfromthepot Except Labor weren't in power and Keating didn't become treasurer until 1983 so not sure how he fucked up 1982.
If Rex Connor could have secured that loan, how much different an Australia could we have had today?
I believe FriendlyJordies will have a video on this very soon!
Foriegn investment would of dried up and nationalising mining and farming what was created under private enterprise Australia would be a basket case become the Banana Republic Keating warned of.
something else would have blocked it
Socialism would have worked this time. Absolutely.
Historical reality is capitalist propaganda.
Nationalisation of farming and mining operations would of resulted in a loss of confidence. The International community would learn contracts would be worthless at the whims of the personalities in government. Foriegn investment would have dried up, Australia would become the Banana Republic Keating warned of.
Hayden didn't voluntarily stand down, he was tapped on the shoulder & told that he'd be replaced by Hawke. This led to his famous 'drover's dog' comment. The coup was far from bloodless, search for Richard Carleton's 'blood on your hands' interview with Hawke, when old Bob lost his temper.
Interesting, I hadn't realised Lang represented Blaxland. Love the location shots too, man.
Thanks so much Iain!
@@Mr_M_History Really looking forward to seeing the channel grow in 2025!!
Lang was the member for Reid.
Looks like keating did some great things, but it would be impossible to get anything like that done now. He was lucky, right place, right time, right demographic of voters... Itd be more interesting to know how or why was it done, the who doesnt matter.
Paul Keating sold us out!
Yes! Keating was anti-socialist -- a far right fanatic -- D.L.P.
That John Kerin moment - GOS vs GOP - happened while my high school class was really getting into commerce and economics - as kids we loved to see an adult fumble, but as students it was great to be in the room to learn it. What followed was the GST battle of the 1993 election - tribalism kicked off in the schoolyard, but for the Chaser generation like me, it was a massive indoctrination into politics in a boiling water pot. All the rivalry of a huge football derby. Imagine it - every kid had an opinion on the GST.
Hot take: Even though the CIA wanted to get rid of Whitlam, Kerr would've done it regardless. The CIA money was just a nice bonus.
The CIA was entrenched then and even more so now. Whitlam would've been a great leader if given the chance
Not sure that’s a hot take, and just what most people think.
And we still suck the arse of the USA
lol
Another conspiracy theorist.
Whitlam was Uncle Sam's man in the Antipodes -- Does anyone really believe that the Native Title Act was a means of promoting SOCIALISM?
Started apprenticeship 1980, laid off 1982, almost joined the Army just to have a job.
Fortunately my old boss got me on as an apprentice with his main rival construction company. Finished 1984. Boilermaker welder, always been able to provide for my family. Today looks like we are going hit rock bottom. Don't think the uniparty are going to steer us clear. We need radical change.
Boston Rob, what a throwback.
That was a fantastic documentary, explained Keating’s journey in a way I haven’t seen yet! Sign of awesome things to come!
"But let's be real. No one cares about that. What people do care about is the personality".
Thank you for summing up everything that is the problem.
The best Keating documentary since the ABC series.
Imagine a politician today clearly explaining and executing their plan for the country and explaining it for the average Australian without having it turn into a high school popularity contest or slandering each other on things other than policy.
And then completely fuck it up
Bill shorten tried, but scomo and the media didn't let that happen.
Um…Keating definitely did slander against the other side, lol
But I get your point
And we've STILL only got the four major banks!
Did you think to Google that? The total number of banks in Australia increased to 97 as of June 2024. In the fourth quarter of 2020, there were 99 banks operating in Australia. The number of banks in Australia has almost doubled since 2004.
@miccanical
Don't be trite. You know exactly what I'm talking about, and that not a single bloody one of those dozens of other banks comes close to the massive quarterly income statements the big four can brag about.
So see yourself out, please.
@@frenzalrhomb6919 lol spot on. the saying isnt the big 97...
@@frenzalrhomb6919 I do not want to guess whether you are making the flippant observation, or implying anything deeper. But since we're discussing it... Keating revolutionised Australian banking and even if we still have a 'big four' and they enjoy the market power that seems inevitable in Australia, the Australian banking system is pretty damn good. Anyone who has banked overseas will readily see it.
Without constant pressure from the left there is a good chance we'd only have two banks, as in the 80s we had a dozen supermarket chains and now we have two and a half. The banks have had to adjust to, then absorb a multitude of competitors that have come and gone. That's what an actually competitive market looks like. The immediate impact of Keating's reforms was on business and merchant banking, it took longer for consumer banking to adapt.
One enormous problem with the Keating reforms was that, he was followed by Johnny Howard. Keating saw the need to adopt certain neoconservative policies, but for Labor it was always a means to an end, a fairer and wealthier society. For Howard, there was no such objective. We were just damn lucky Hawke and Keating lasted so long to really cement in Medicare, consumer rights, and the primacy of federal power in many areas.
The Conservavtives had needed many years to destroy these institutions and rights, and turn our young people into "temporarily embarrassed millionaires" who reject the primacy of class in their identity.
I will finish by saying, the video alludes to Lee Kuan Yew's quote, but as a geezer, Australia's self confidence as a nation was smashed by the early 80s. We were seen as fat, dumb, lazy and being blown away by emerging economies, especially Japan. It was the opposite of today and a case of needing to find the middle ground between working to be wealthy but remembering why we work hard... for quality of life and to build a prosperous future by that work.
@@miccanicalthere may be more smaller banks but the Big 4 have a huge market share which is growing, especially with acquisitions of mid tier banks like Bankwest, Suncorp and St George
40:25 was that paul keating and bob downe ? id love to see that footage.
It is from the 1993 ABC documentary about Hawke and Keating.
He was HIGH on the List of Australia's WORST P.M./Treasurer.
I was talking one day to a Boiler Maker in a large Bankstown Metal (Labour broth pot)Fabrication Business on Edgar St, I mentioned about Keating the Boiler Maker replied "Yes once a year and just before an Election he Ponces through the Bankstown Working man's Club in HIS very expensive ITALIAN Suit and Very expensive FRENCH Shoes... waving his right hand and clenched fist muttering 'Comrades'.... the he no doubt goes to his Eastern Suburbs multi million dollar house and sits talking to his French Clocks".
Not bad for a LABOURITE(anti CAPATILIST) even the Marricville Mumbler and his multi million dollar Mansion on the Hill.
Trouble is not many want to be HONEST
*Great video mate, just subbed. My Favorite PM was probably Rudd*
Probably the best video yet !
Really in depth analysis
Albo seems intent on killing the good work of previous Labor governments. Policies like introducing work for the dole for senior citizens undermine Labor’s values. No programs to assist older people to get suitable work, as they transition into retirement. Their penury payments are slashed to discourage them from trying to get ahead via self employment programs. A vulnerable group of older Australians entrapped by policies that offer them no hope and only punishment. Former Labor politicians would be horrified.
It’s deeply disappointing to see policies that abandon the values of fairness and opportunity that Labor once championed. Older Australians deserve support and dignity, not punitive measures that trap them in hardship.
@@ryartdesign2874 Supporting older Australians with dignity and fairness should remain a cornerstone of government policies, not a point of neglect or punishment."
You sound like a bot. And the policies sound like ones that scomo brought in. It never used to be an issue with pensioners as you could get a pension at 60-65.
So, Albo had nothing to do with it but it's liberals policies affecting you.
Adequately left wing members of society -- such as your self -- must join the rank and file membership of the Australian Labour Party to OFFSET the influence of the FAR RIGHT ALBONESE -- "Far Right" may use diplomatic methods -- (non-military methods) -- to impose the most vicious and injurious policies. (The "Industrial Revolution" was a violent revolution -- a Far Right revolution.)
Since Keating poverty has gone up and up and up. Great work.
That's since Howard. Your history knowledge is limited.
@@lllordllloydHawke told the population that homelessness would be eradicated by 1990
@@lllordllloyd No you are mistaken Labor opened the Australia to the world sending manufacturing to low wage countires, remember no child will live in poverty by 2000 Labor and Liberal serve the rich to a greater or lesser degree.
@JohnSmith-pw9lk so with record employment levels now... hows our poverty levels these days? They aren't explicitly linked.
@@lllordllloyd I would strongly argue Howard was the most damaging PM the country has ever had, but don’t be bias. Nothing positive came from Keating.
I would love young people to look at 42:45. John Kerin was generally respected. He was a friend of Hawke. But he showed he wasn't across the jargon and nuances of high economics. Keating had been so commanding, this mattered. He was booted from the ministry.
Just a few years later, it was revealed that (then Foreign Minister) Alexander Downer had been informed that listed wheat exporter AWB, headed by his personal friend, had been helping Iraqi dictator Saddam Hussein evade United Nations sanctions by allowing money permitted for vital food supplies to be laundered and used for weapons. This was a time when the US was itching to get a war started, which eventually came.
Downer just brushed it off, Howard was cool with it (old money Downer, despite being an idiot, is Liberal Party royalty), the Australian media rapidly lost interest. It's a really stark case of how rapidly and completely our poltiical standards declined under Howard, aided by the rapidly-increasing power of Rupert Murdoch.
Keating, the piggery man, was far from clean in terms of conflict of interest.
@@sentimentalbloke185 Seems pretty quaint compared to covering up funnelling weapons money to a mass murdering dictator? One whom Downer was soon telling us had to be taken out in an illegal invasion?
One of the most desperate cases of "both sides" I've seen recently.
Compare Albanese with Kerrin.
@ So corruption is ok when it's your guy, eh.
@@sentimentalbloke185 My point was about the consequences of failure in office. It was about John Kerin and Alexander Downer.
Keating should not have been involved in that business, and it was prominent among the issues that cost him the PMship and his career. The public spoke.
But, corruption is okay when it's Tories, whether we are considering the internal, media or public response, as we have seen a thousand times. But to be clear, we are covering two separate issues here. And again, you are the king of whataboutism.
Whataboutism is very important to Tories, for example when they cancelled out a parliamentary rape and active cover up, by counterposing allegations of a consensual office affair.
Dude sold us
Yes Keating did sell us out -- He had a chip on his shoulder -- He was a de facto 'DLP' man -- Far Right -- a fanatical "Anti-Communist" -- Just like Senator 'Joe' McCarthy in the U.S.
To quote his Redfern Speech, (1993?), He does not say that the "Ruling Class committed the murders [of the Aborigine during the nineteenth century]' -- The fanatical anti-socialist said "We [the mass of the people -- the only effective opponents of oppression in all forms] committed the murders [of the Aborigine]" (Speech in on the internet, see 'Keating, Redfern Speech')
H.V. Evatt was the last adequately left wing Labour Party leader. Rex Connor ought to have succeeded Evatt -- (not damn Calwell.)
Whitlam often mocked the heroic left -- mocking the use of the term "comrade" -- and mocking the so-called 'White Australia Policy' -- and creating 'a 'Native Title Act' -- Grandstanding in front of the television cameras in the central Australian desert, sitting down with an Aborigine and pouring a handful of earth into his palm.
The Native Title Act was a SYMBOLIC challenge to the socialists -- A rallying call to the far right working class -- the scab class -- the cynical and the petty and the low-minded.
The heroic left wing working class men had the highest aspirations for the mass of the people. The heroic left wing working class men wanted far more than an adequate social security system and free universe health services or 'Medibank'.
The heroic left wing working class men wanted public ownership of all very large-scale industry and infrastructure -- not for the sake of higher surplus consumption for workers -- but on the contrary for the most morally profound and most idealistic purpose of minimising un-necessary hours of work -- i.e. cutting in half working hours -- while maintaining high material living standards -- as the means of MAXIMISING HOURS OF NON-WORK : The hours in which the working class -- the creative class -- the poetic class -- does its best living
Nah, no more then Gough Whitlam did. Australia's ruling class has this hyper individualised pathology to where each man can exist as an island unto himself.
Now more than ever Australia needs another Keating like Prime Minister so as to revitalize the Australian economy. PM P. Keating possesses so many skills which all the current and past PMs over the last 30 years don't even come close. Top rated PM.
lol. He didn’t achieve or change anything!!
@@MrFastFarmer Really? ; if you don not know your facts just keep quiet.Go and do more research which at your finger tips: Google it.
No thanks its fucked enough all ready
After his political carrier he moved to grean leafy suburbs in East.
He didn't consider his electorate good enough to retire.
At least he waited until her retired
I would move away to not be recognised too.
KETAING SETUP HIS OWN DEPARTMENT TO INVESTIGATE THE BEST COMPANIES TO INVEST IN AND TO BECOME A BOARD MEMBER OF, TAXPAYERS ALL PAID THE BILL SO KEATING COULD PROFIT FROM. AFTER POLITIC HE WENT ONTO THE BOARD OF 2 OF THOSE COMPANIES 1 OF WHICH WAS TELSTRA.
Paul Keating wanted to introduce a GST but was stopped by union pressure on the party and PM Hawke. It was considered too radical a step at that time. Big mistake!
Big mistake why ,that's a horrible regressive tax
Love deep dive analysis on Australian politicians
Paul Keating stole our pension.
That survivor quote at 9:52 epic
Keating was a political Rock Star. never a dull moment.
Not unlike the Lange government here in NZ.
Question time has never been so amusing.
"Because I want to do you slowly..."
Kaeting highly regrets any comparison to Blair or Blairites, how to sell your soul for global neoconservatism made sense in the 1990s. Not so much when the Neoconservatives dropped all operational professionalism after 1997.
🤔
Trade deficits do not drain you of your wealth - it’s literally the opposite, you get real resources which are wealth, they get cash - if the rest of the world wants to net save in AUD, that’s their prerogative, and is most likely a function of them wanting to invest in Australia. Otherwise, currency leaving the country puts downwards pressure on exchange rates and makes exporters more competitive if the people now holding the AUD don’t want to buy an AUD denominated security and instead sell it on an exchange.
Prior to ‘83 Australia had capital controls, but maintained an independent fiscal and monetary policy, and currency peg.
The high trade deficit before ‘83 was a function of the currency peg and the rate at which Australia kept it at. The value of the AUD was obviously too high to maintain balanced trade. That’s why when Keating floated the AUD in ‘83 the AUDs value almost halved.
The high rate environment of the 80s caused the inflation
Spoken like a true disciple of university economics, oh btw it was 86.
@ no lol, Keating floated the dollar in 83 lol.
My position is literally the opposite of what they taught me at university…I don’t think trade deficits matter at all, in fact I think it’s better for us to import more than we export and if we could do that in perpetuity - that would be a good thing because the rest of the world is giving us their things for money - having a bunch of use values is better than holding cash. This is what the US has done since they ended Bretton Woods - trade deficits and budget deficits as far as the eye can see…
@HahaDamn I have no doubt now you know your stuff. But the current economic system just appears to be like snakes and ladders and we are becoming more and more enslaved as individuals to someone or other's in power's, politically dependent upon a theory.
@@khylerin70 that is industrial capitalism for you
Thanks bro. This is really important work.
Thanks Zane!
Well done, great documentary.
Great video. 👍
I must say though I completely disagree with some of your economic explanations especially regarding money circulation and inflation. Austrian economics explain cause and effect much, much more accurately.
21:51 sounds familiar.
Is the graph at the beginning mislabeled? To my knowledge, GDP per capita is not the same as average salary.
Union membership decimated today.
Howard did that.
@@Low760
True…but Labor didn’t remove any anti-union policies from Howard though, which they could have easily if they wished to
A Carpetbagger !
I prefer the old-fashioned spelling, a (nasty) "c, u, . . ."
But his pathological behaviour was made possible by the failure of a representative cross-section of the population to follow the simple, traditional and most basic principle of social life -- that very basic domestic chore -- of joining the Labour Party and attending the branch meetings.
By simply being present at your branch meeting on PRE-SELECTION night you are able to introduce your judgement of the SENSIBILITY of each candidate.
In other words you are in a sense able to put your gut feeling sense of justice into the parliament and into the policy-making process.
The battler from Bankstown to the distinguished statesman listening to Mahler and talking about the sublime. Really great video mate! Loved how you focused on all the key policy areas. Its really the legacies he has left behind that point to his achievements, not an auto-biography.
Pretty Good Mate..
In 1940 Australia was caught with no sophisticated industry. During the 50s this was built up with tarrifs in place. Along comes Labour with a mission to destroy it all. Stuff the Workers. 20% Interests rates see Credit Cards. Good History though,
During WWII Australia developed its industrial capacity and ability incredibly, all thrown away after 1945.
Yes -- Hawke's 1983 (?) Boyer Lecture (short, 500 words?) discusses that in a fair amount of detail. Transcript published by A.B.C. -- (Unfortunately, having made the point that full employment is possible, Hawke then back-tracks in a shockingly cynical and blasé way.)
The National Competiton Policy destroyed secondary industry in Australia. No wonder you skipped over it. Traditionally, you don't touch the Monarch.
Yes! The simple reason why the "highly powerful" economies of South East Asia were called "The Asian Tigers" was because the workers had no tradition of working class trust and solidarity -- i.e. Not "Asian Tigers" but Asian MICE -- No worker would call for a strike because he feared being dobbbed in to the boss by one of the many paid 'observers' planted on the factory floor -- and if he were sacked or if his tyres are slashed -- or if he gets beaten-up for being a rebel none of the other workers would back him up.
Japanese factor workers are notorious for being broken-up into "teams" -- and each team competes against all the others for a booby prize -- i.e. a BLUE RIBBON -- Your name on a "league table" -- a pat on the head and a smile from the boss -- and a bit of extra cash for being more productive than the other teams! How sophisticated is that?
@richardgreenlees7088 Not really, sophisticated. Australia has nothing to with International industrial relations. Keating himself wasn't a fan of secondary industry and favoured switching from a manufacturing to a service economy. His pivot to Asia, also including sending our manufacturer sector to them.
I thought he was 26 when he got elected to Parliament.
Grandfathering meaning:
Exempt (someone or something) from a new law or regulation.
Straight up chart crime at the start.
3:07 I am screenshotting that photograph to show people that no matter how low in society they might be, they can still do great things
Love your work, please keep this history channel up.
Thanks so much mate!
As for the debate: Howard won but I do not believe that he "wiped the floor" with Keating. Otherwise an excellent presentation.
that fact he speaks of banks control over the situation should be alarm bells
Probably the only cringe moment of this documentary is when you said "he didn't even have a university degree". Up until recently parliament actually reflected Australians in that it wasn't ram packed with over educated toffs. If only we could go back...
Also the Redfern speech was a huge low for Australia, it set battle lines we didn't need to have that have poisoned society since.
to what, having more ignorance in parliament
I see what you mean but I meant it as in “how cool and crazy was this”
I tend to agree. It's more than 200 years later, we're nothing like the 18th century society. It's well past time to move on.
And also he was the one who created modern Australia Day and the Supa is extremely controversial
24:54 yes
Why no mention of Keatings' expensive taste in suits? Keating was the only labor PM i voted for and didnt regret.
35:15 sorry i live in australia
The presenter's bias is evident when he downplays the 20% interest rates under Keating's economic mismanagement as being"quite high".
Current interest rates, a quarter of that rate, are described as "quite high".
20% is stratospheric and was devastating to most small businesses and farms that rely upon credit for their daily operation.
You should probably research Howard's time as treasurer?
Yes this should not be understated. 20% is insane.
The kid's a socialist cheerleader, they always indulge in the cult of personality when it comes to their leaders.
Yeah all the fan boys forget thst
@@Thepigfromthepot Are you responding to my post, it's hidden from me. lol
If Rex Connor had "bought back the farm", that rat Keating would have privatised that too.
Well said! Connor would have been far more left wing than cynical, phoney Whitlam.
Keating is Australia's greatest prime minister/treasurer. This man dragged Australia kicking and screaming towards the 21st century
I also popped so hard at the ancelotti reference
there is no kicking and screaming, its voted out.
@NathanCroucher okay cooker
The 21st century of all wealth going to the 1% and everyone else just getting poorer? Yeah thanks for that.
@ who would vote for kicking and screaming???
Yes
hey mate, thanks for the vid on Aus history
Absolutely brilliant documentary mate.
Keating was, and still is a true ABC man!
A = *ARROGANT!*
B = *BELLIGERENT!*
C = *CONCEITED!*
Plus one more trait,
O = *OBNOXIOUS!*
And he is still better than the Libs.
Yes -- But worse : He is a fanatical, nasty DLP-type Vince Gair "Anti-Communist"
The only "good" thing about him is that if you show him in action to one of the young generation -- one of his blistering technical analyses of economic policy alternatives -- it must serve as a great shock to the younger generation -- Enables the very young to see clearly how really poor is the current standard of debate and weakness of personality among the Labour front bench!
Well done ... Young Mr History Man ... When I was young, this all played out before our eyes and ears in Australia's parliament and media ... Excellence 😂
Labor Right is to the economic right of the left as well (but still left of centre), not just social.
But these days youre right its all union LARP.
He should still be in office. Imagine if he served from 1991-2025. If anyone deserved to be in office for life, it'd be old PJK.
Could have saved me about a term of uni with this video.
The greatest PM we have had in my time.
As much as I dislike Labor I would much rather him in charge right now over Albanese
@@jacobjgleggy1854or Dutton. Mr potato head
Yeah he could really fuck it up interest rates are high enough all ready thanks
Leaving this comment with my like for the RUclips algorithm
No. Nothing in Australia has changed. We are still fully dependent on the outside world for survival, we still align with the west before Asia, we still have shit leadership, we still have 4 banks that dominate everything, we now have GST, and native title has becoming nothing but a weapon. He achieved nothing positive.
Yet look at America and the u.k. We did MUCH better but you're obviously got Murdoch stuck in your head giving you commands.
@@Low760
I just wish we have no negative gearing and sovereign wealth fund similar to Norway
It had to happen
Yeah -- Like we have to have fanatical "anti-communists" in the rank and file membership of the Labour Party?
Whitlam was what trump is .. a total BS self interested disaster. A me I and myself. Keating did better pig farming😂
I think you've been brainwashed by sky news. Given Whitlams track record of doing everything for improving Australians lives, vs Trump that only improves billionaires lives. Nothing alike, Whitlam wasnt a bullshit artist like Trump too.
An ambituous man who was frustrated by a better man, and eventually massively defeated by an even better man.
Loved by the MSM, whose trendy left opinions he shared.
Howard was not a better man other than marketing.
Trendy left? Like reducing inflation caused by Howard?
Old Beijing Paul
Now we import more than ever
Protectionist shill
This is excellent thanks man keep it up