Kangaroo Island Mayor, Peter Clements, gives his opinion.

Whatever happens at the State elections and perhaps Federal elections in the New Year, is likely to be influenced by a significant dissatisfaction from the Australian people in their attitude toward our political leaders from all sides.  

The United Nations Secretary, Kofi Annan made a dire prediction when he was in power stating, “If leaders fail, people will lead”. This statement is as critical today as it was hundreds of years ago during the French revolution.  

The revolt against aristocracy by the workingman and the small businessperson at this time was largely due to a deprivation of liberty and equality by people of the time.  

We’re a long way from being revolutionary in a contemporary sense, but seeds of discontent within Australia and overseas has been sown within the political landscape which is now changing to reflect the views of many people.  

Industry is rapidly changing and we are fast becoming a service economy, devoid of manufacturing content and innovation, and yet Australia produces some of the highest quality serviceable goods in the world, unlike the disposable and cheap material being imported in ever increasing proportions from China.  

Our Australian banks have been found to be greedy and self-serving while enjoying the highest levels of profitability in the world for decades. The Australian Prudential Regulation Authority (APRA) was set up as a legitimate regulator to ensure that people – mums and dads – would not be ripped off, and yet this authority is run by the same people that control the banks. Isn’t that like putting the fox in charge of the hen house?  

Uninformed rhetoric about our banks being the backbone of our economy is just that; uninformed. Our banks are mere brokers in an international money supply market. Australian banks are exposed to trillions of dollars in derivatives (virtual gambling) worldwide, something that the average politician knows little about.  

If these side-bets were ever called in who do you think would bear the brunt of the losses in superannuation and in the financial sector? Traditionally it has been the average taxpayer, the ones that can least afford it; you and I.  

Right now, five percent of the richest thousand people in the world own half of the world’s wealth. These people are concerned themselves that the gap between rich and poor is unsustainable.