People Of Nepal Give Albo A Glimpse Of What Will Happen To Him If He Makes Property Values Go Down

ERROL PARKER | Editor-at-large | Contact

The government of Nepal has been toppled and Kathmandu’s Parliament House is still ablaze after protests over generational inequality boiled over into violent chaos.

On orders from the Nepali Prime Minister KP Sharma Oli, who has since resigned, police and the military used deadly force against young protestors which resulted in the death of over 20 demonstrators. That was the catalyst that saw a government overthrown.

Closer to home, intelligence analysts have reportedly told Prime Minister Anthony Albanese that a similar event could unfold in Australia should a few choice dominos begin to tumble.

Speaking to The Advocate this morning, Ben Smith from the centre-left think tank the Chifley Centre, said there are lessons to be learned from what’s happening in Nepal.

“While Australia does suffer greatly from generational inequality, many young people are comforted by the fact that the Baby Boomers, to their own chagrin, are not going to live forever,” Smith said.

“So much of the generational inequality in Australia is a temporary problem until the noisy minority banging the gong for death taxes and the like finally get their inheritance. If you don’t have one coming, in this climate, you will probably eat shit and die in a concession bed at some nursing home waiting to be featured on Four Corners, sucks to be you, etcetera,”

“It won’t be generational inequality that triggers the torching of Parliament House in Canberra, it’ll be something much worse.”

The Chifley Centre has done extensive modelling on what impact a deep, permanent plunge in property prices would have on society and it is not good.

Overnight, the apartment market would immolate. Hundreds of thousands of investors would want to cut their losses and exit the sector. First, there would be a glut. Then a massive scarcity of apartments for sale. Houses would dip but not as badly. People would begin subdividing their land to claw back equity. Those that can’t, “eat shit and die.” All of a sudden, millions and millions are over-leveraged. Banks that held trillions in assets now hold mere billions. That is what is facing the nation should the Albanese Government make the unwise decision to scrap negative gearing.

The model also shows that protestors would end up turning our subterranean parliament into some sort of public servant Hāngī, which Smith says “chills his blood.”

“Speculating on property is the only vehicle 99% of Australians have to generate wealth,” he continued.

“If you take that away, the gutters will run red.”

More to come.