Intergenerational Theft | Peter Costello AC

In this Conversation, John is joined by former cabinet colleague Peter Costello. Alongside John, Peter was an integral member of the Howard government, serving as Treasurer between 1996 and 2007. No Treasurer in Australia's history has held the position longer than he.
They discuss the economic situation in which Australia finds itself in 2023, with a fast-growing national debt, an appetite for easy fiscal stimulus, high inflation and ballooning costs of living.
Peter and John also consider how Australia's Covid response will be seen with hindsight, the growing role of the state in Australian lives, our hyper-emotional public square, the diminishing of Australia's achievements and history and how we can deal with the atomising effects of social media.
The Hon Peter Costello AC served as the Federal Member for Higgins for seven consecutive terms. He was Deputy Leader of the Liberal Party from May 1994 to November 2007, and was Treasurer from March 1996 to December 2007. He brought down twelve consecutive Federal Budgets, including ten surpluses, and eliminated Commonwealth Government debt in net terms.
He has served in various senior governance roles including as Chairman of the Independent Advisory Board to the World Bank, Chairman of the Australian Future Fund and Chairman of Nine Entertainment Co. He is a highly respected commentator on social and economic issues. Prior to his political career, he worked as a solicitor and barrister at leading firms in Melbourne.
#economics #australia #debt
--------------------------------------------------------------------------------------------------------------
00:00 Intro
00:45 Introducing Peter Costello
02:10 The story of 2007 - 2023
07:08 Social media and social disconnection
09:00 A positive story of Australia
13:55 The role of the state
18:04 How young people can get on the economic ladder
22:13 Stimulus, debt and balancing the budget
28:45 Australia's heavy-handed covid response
33:00 Debt
37:44 Education & 'emotionalism'
42:55 Disengagement and the public square
46:46 Inflation - who's responsible?
50:15 Net-zero ambitions
55:00 The Greens
58:33 Ukraine & AUKUS
1:01:14 China
--------------------------------------------------------------------------------------------------------------
Conversations feature John Anderson, former Deputy Prime Minister of Australia, interviewing the world's foremost thought leaders about today's pressing social, cultural and political issues.
John believes proper, robust dialogue is necessary if we are to maintain our social strength and cohesion. As he puts it; "You cannot get good public policy out of a bad public debate."
If you value this discussion and want to see more like it, make sure you subscribe to the channel here: / @johnandersonconversat...
And stay right up to date with all the conversations by subscribing to the newsletter here: johnanderson.net.au/contact/
Follow John on Twitter: / johnandersonac
Follow John on Facebook: / johnandersonac
Follow John on Instagram: / johnandersonac
Support the channel: johnanderson.net.au/support/
Website: johnanderson.net.au/
Podcast: johnanderson.net.au/podcasts/
--------------------------------------------------------------------------------------------------------------
Peter Costello
www.petercostello.com.au/

[@thecanberean]

I can't believe that I, a Labor voter federally for 25 years, am sitting here listening to John Anderson and Peter Costello and nodding my head, agreeing with virtually everything they say and wishing such men were still in government. Unbelievable!

[@markrussell5904]

me too-labor voter-union member since 17 (not anymore ) and now Peter Costello is making more sense than all the labor party put together. I think they have put something into my drink hahahaha

[@DJ-yj1vg]

Labors values have changed. I think they used to represent the hard worker. The problem is that without businesses and an efficient economy, there are no jobs to represent. Many of labors policies are negatively affecting economy

[@AussieZeKieL]

@@DJ-yj1vg liberal policies have changed too. This is why both liberal and labor primary vote count at the federal election are at record low levels

[@gregorybaillie2093]

@@DJ-yj1vg what labor party ? We have a NSW ALP premier who is anti unions !!!. Once the base of organized labor is dismantled there cannot be, by definition, a functional Labor party. The difference between the ALP and the LNP is minimal. Labor historically was the only party who's sole reason for existence was to check the excesses of our capitalist classes who have historically been favoured by the LNP hence it's sole reason for existence. Now our elite class has two parties to look after their interests. That's why wages haven't risen for the last four decades. And that explains a lot about our failing economy.

[@carolyna.869]

You had to grow up sometime!

[@TheAussieCro]

Reading the comments all so positive, encouraging that there are still so many people seeing what is coming or is already here. The question is how to fix it?

[@duncant63]

Great conversation. Shame that Four Corners and Q and A will never cover this topic.

[@Samsgarden]

The ABC is disconcertingly communist.

[@jordanwhisson5407]

Really the highest taxing treasurer and constant liar, Whitlam 19.4%, Fraser 20.8%. Hawke/Keating 21,8%, Howard 23.5%, Rudd/Gillard 20.9%, Abbott/Turnbull/Morrison 22.4%. Averaged out 26 years of religious right wing government 21.9% and Labor 21.1%. And the lazy corrupt religious right wing did as little as they could, helped the fewest people, the least infrastructure. Wonder why the bush is without infrastructure the Nationals failed them magnificently and the Liberals could care less.

[@oldman2800]

Sell the ABC for crying out load.... a billion dollars a year for a left wing media junket

[@andretorben9995]

If they did somewhere they would make it a racial issue somehow.

[@troygallaty4361]

Australia’s best and trustworthy podcast going at the moment …thanks for work John

[@gregpennefather3495]

Outstanding discussion. Peter Costello is the greatest PM we never had and, without peer, our greatest ever treasurer.

[@jordanwhisson5407]

Really the highest taxing treasurer and constant liar, Whitlam 19.4%, Fraser 20.8%. Hawke/Keating 21,8%, Howard 23.5%, Rudd/Gillard 20.9%, Abbott/Turnbull/Morrison 22.4%. Averaged out 26 years of religious right wing government 21.9% and Labor 21.1%. And the lazy corrupt religious right wing did as little as they could, helped the fewest people, the least infrastructure. Wonder why the bush is without infrastructure the Nationals failed them magnificently and the Liberals could care less.

[@hadrian3487]

Would of been PM if continued in politics. And what a PM he would of made instead of the drongos we’ve had in the last decade.

[@sam_post]

What these men failed to mention was the extent to which corruption within individuals and among groups is contributing to the breakdown of societies around the world.

[@aawe1]

Emotion only triumphs over logic if the leaders let it. Weak leaders beget frostbitten children

[@AugustusCaesar88]

Corruption and (((subversion)))

[@alexlanning712]

And I'm not doing any finger pointing, in particular, but Donald Trump is a huge contributor to your theory

[@aawe1]

@@alexlanning712 That kind of myopic statement is exemplary.

[@alexlanning712]

@@aawe1 Thank You for your kind utterance(Nup)

[@SaveWesternCivilisation]

I've seen this coming for thirty years. I'm running for the NSW Senate on a platform of Western Values because I believe our civilisation is worth saving. I'll be putting up flyers on every street corner and letterboxing almost every house in Australia, detailing how to save our glorious Western civilisation. I've sent over 2000 emails, letters, and other things to the media, but was not able to get a single mention when I ran for the Senate in 2022. Since the media is owned by big business, I'll contact people the old fashioned way - via letter. I feel like I'm the only person in Australia who believes in our civilisation. I'm doing my damndest to inspire others to join the cause.

[@HS-PGA]

I wish every Australian could watch this video . We need a dose of reality .

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@HS-PGA]

@@joshhoodrat451 best reply I’ve ever received on a YT comment. 💯agree. That’s a great reference quote as well thankyou .👍

[@jamesrowlands8971]

The only video of Costello that any of us should be watching is him being dragged, kicking and screaming to the stand to testify about why his government killed so many people with it's horrific crimes against humanity.

[@TheMuslimsarecoming]

Some of us did and thought they were speaking garbage. They have made their own reality and people who don't bother to think critically are easily led by someone saying what they want to hear.

[@HS-PGA]

@@TheMuslimsarecoming are you under 40 years of age ?

[@johng8082]

So so enjoyable to listen to considered conversation...thank you gentlemen.

[@barrywalsh7926]

Sadly, our political establishment, both Labor and Coalition, have failed to manage our resources for the long-term, including future generations. Today, Norway has over one trillion US dollars in sovereign wealth funds, build up over decades. While Australia has, across three levels of government, trillions in debt.

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@davidbrayshaw3529]

Yes, and Costello was one of the last to get his hands on yet another Australian resource...gas. How's that working out now?

[@webmaster4980]

Very good, we need more leaders like these great men.

[@JC-oy9ou]

Probably never will

[@shiraz1736]

They couldn’t lead a horse to water.

[@djarydashley6297]

We had them. They failed us. And now they sit upon their high horse, oozing arrogance and smugness, denying any responsibility for the terrible decisions they oversaw.

[@allurahouse9822]

Wisdom knowledge experience and hindsight thank you John and Peter for this talk.

[@jolonf]

A living legend, I’m glad John Anderson let him speak.

[@cathydonnellan9174]

Ho ho,Many Aussie people remember the reign of Abbot and Costello!

[@jamesrowlands8971]

He's a war criminal who should be put in the grave for his crimes against the people of Iraq.

[@leonie563]

Hardly. Australia was raining gold and iron ore royalties and they fois gras us with it and kept Govt. Both of them are still being paid by taxpayers in retirement. And they both left a burning platform of tax evasion and an economy slowing with no defence assets that we now have bought the US troops to defend us at bases in WA, NT asnd QLD. Their parties also wanted to give unemployed females the Pill/IUD and Income Management while they cut public and social housing. In the Pandemic in 2019 Morrison was forced to implement a broader social safetynet with Jobkeeper and Eviction morotoriums so Landlords couldn't mass evict and sell. Go ahead vote them in again. Enjoy being traumatised to early graves.

[@patrussell8917]

Costello made Treasurer a respected position by creating balance between politics and taxpayers The books were in order when handed over and without any blame being loaded on previous governments for any possible discrepancy Not happening like that at present

[@chadjcrase]

It sounds like a fairy tale when you put it like that! 🤕

[@gikigill788]

​@@chadjcrase Because it was a fairy tale.

[@saturupiah5940]

I’m no longer patriotic as most Australians and our institutions are Woke and are at war with our values and detest good people such as Anderson and Costello.

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@jordanwhisson5407]

So the people you and your kind of religious right wing politics who have miss treated minorities are asking to be treated with the same respect you demand and you are saying No I'm going to continue to sh#t down your throat so sit down and shut up? What a to guy hey, champion?

[@robertstewart6175]

Excellent contribution gentleman. The more I hear from Peter Costello the more disappointed I am that he never became PM. And the more we look at Canberra now the greater could have been John Anderson’s contribution in the Senate if he had been preselected at the last election.

[@soniavadnjal7553]

Yes. To both perceptions.

[@byza101]

Agreed, I was really looking forward to Costello taking over from Little Johnny. Imagine we had Costello instead of Rudd/Gillard.

[@JC-oy9ou]

If only John Howard just stepped aside in 2007, Peter Costello would had been PM.

[@user-oi9iz9jr8y]

Great conversation. I hope people learn something from this

[@V8TVAustralia]

I’m so glad I watched this interview I couldn’t agree more with you both now I’m 55 years old and I ran a business for 32 years in Sydney I remember the tough times the recession we had to have, we are very lucky to have Peter as our treasurer and I hope the left & the greens watch this video as well.

[@fortunatotorres3444]

I myself is a migrant in this beautiful country and contributed half of my life to the economy. My three children grew and educated in Australia is also contributing to this country of ours. Me and wife are retired and own our home and enjoying the benefits that we can’t get from our mother country. I am very thankful to have worked and lived in this beautiful country. I agree Peter that we should celebrate the success story of every individual who migrated to this country.

[@TheHealthLife]

Thankyou for contributing, HOWEVER, we are bringing in 400,000 migrants to this country and we have NO houses or infrastructure for them. Also, the seem to be Left leaning and woke migrants. We need to solve our own issues and look after our own kids first, before allowing others into the country.

[@JP-rv6hg]

Such a shame Peter never became PM - his intellect would smash both front benches today… I remember watching him totally own Crean, Swan and Albanese!

[@PrisonerD]

@@11235but Agreed - Keating set up the conditions that led to Costello’s success. Labor would have also run surpluses across that same period - pretty easy to manage the economy during the biggest economic boom of all time. Swan ran much tighter budgets vs. government revenue than Costello did (or Hockey & co. after him).

[@jordanwhisson5407]

Really the highest taxing treasurer and constant liar, Whitlam 19.4%, Fraser 20.8%. Hawke/Keating 21,8%, Howard 23.5%, Rudd/Gillard 20.9%, Abbott/Turnbull/Morrison 22.4%. Averaged out 26 years of religious right wing government 21.9% and Labor 21.1%. And the lazy corrupt religious right wing did as little as they could, helped the fewest people, the least infrastructure. Wonder why the bush is without infrastructure the Nationals failed them magnificently and the Liberals could care less.

[@buildmotosykletist1987]

@@PrisonerD : Rubbish.

[@bobomac8330]

May have been too intellectual for the Australian voter.

[@grannyannie2948]

Only ten minutes in, probably the best conversion you've had. Thankyou both. PS I would remind people that the famous WEF promotional video, You Will Own Nothing, pointed out that people will prefer to own nothing than continue to pay for government and personal debt.

[@robertholland7558]

Conversion? Or conversation?

[@grannyannie2948]

​@@robertholland7558 lol, maybe a Freudian slip?

[@grannyannie2948]

​@@robertholland7558 I do feel a lot of this is approved opposition. Cheers any way, commenting with alcohol, truth in wine.

[@jamesmorrow1646]

Klaus Schwab Derangement Syndrome.

[@Bobo-ox7fj]

@@jamesmorrow1646 Incomparable

[@matnewland1998]

Brilliant conversations, for once some common sense spoken, thank you gentlemen

[@markames9963]

Thank you both for your insights. I was beginning to think ideas and opinions of this calibar had been completely cancelled by the bullies who are trying to push Australia into a regien of Socialism. Nice to hear sensible discussion about the world around us. There may still be some hope for us if more polititions and businesses were to act on these principals as you have done

[@jbo1902]

I’d say this is one of the most important discussions for the average Australian right now. Lots of issues discussed that are fundamental to whether we prosper or not in the decades ahead.

[@chadjcrase]

This continent is grateful for your family's arrival, Peter. Your mix of emotion, pragmatism and intellect is not a common one and you would have made a great leader of your party. Let's not forget your wonderful brother as well. That was a good result for the world surely.

[@rickytalk5852]

Manchester, England listening.

[@grannyannie2948]

I know Manchester well. My hubby emigrated from there. It's become a pretty dreadful place.

[@robertholland7558]

@@grannyannie2948yes ever since Sir Alex Ferguson retired the team has indeed become mediocre

[@grannyannie2948]

​​@@robertholland7558 Grooming gangs and Subways without ham haven't helped.

[@robertholland7558]

@@grannyannie2948 setting up sandwich kiosk in the Manchester subways selling ham sandwiches.

[@grannyannie2948]

@@robertholland7558 Sounds like an excellent plan 😁

[@robertholland7558]

To bad we never got an Abbott and Costello government!

[@craigball2732]

We’ve got one now unfortunately, although I shouldn’t insult Bud & Lou. This current lot are more like the 3 Stooges.

[@jordanwhisson5407]

Really the highest taxing treasurer and constant liar, Whitlam 19.4%, Fraser 20.8%. Hawke/Keating 21,8%, Howard 23.5%, Rudd/Gillard 20.9%, Abbott/Turnbull/Morrison 22.4%. Averaged out 26 years of religious right wing government 21.9% and Labor 21.1%. And the lazy corrupt religious right wing did as little as they could, helped the fewest people, the least infrastructure. Wonder why the bush is without infrastructure the Nationals failed them magnificently and the Liberals could care less.

[@soniavadnjal7553]

😏🙂.

[@cohort075]

Costello, not Abbott.

[@bobomac8330]

😂 well played

[@gillespiedanielle5713]

Thank you gentleman for this great considered conversation. I wish I had seen these kinds of conversations from you when you were still in parliament.

[@cuisina1055]

Peter is the only guy I can remember in my lifetime to balance the books.

[@raphaelfavre5135]

and sold all our gold reserve for peanuts...hahaha

[@gregorybaillie2093]

You have a faulty memory then. Howard after destroying the unions, sold a nations wealth for a song gave most of that to his rich mates and then balanced the books so the press his rich mates owned could tell us lies about how good little Jonny was. Lucky for them Australia is largely populated by dim wits such as your good self

[@simjom02]

Peter Costello was the architect of the structural deficit we have today through tax cuts and middle class welfare dished out during good times. Made me laugh when he said he was so concerned about youth debt when skyrocketing house prices started during the late 1990's as a direct result of government policy during his time as Treasurer. Government debt could be easily solved for a start by properly taxing resource companies that are making a killing on the nations finite resources but returning little to the public purse. The problem with Australia is its political leaders are easily bought and sold and so decisions made in the long term best interests for broader society are not made.

[@jordanwhisson5407]

Really the highest taxing treasurer and constant liar, Whitlam 19.4%, Fraser 20.8%. Hawke/Keating 21,8%, Howard 23.5%, Rudd/Gillard 20.9%, Abbott/Turnbull/Morrison 22.4%. Averaged out 26 years of religious right wing government 21.9% and Labor 21.1%. And the lazy corrupt religious right wing did as little as they could, helped the fewest people, the least infrastructure. Wonder why the bush is without infrastructure the Nationals failed them magnificently and the Liberals could care less.

[@k2svpete]

​@simjom02 you didn't pay attention to the talk, did you?

[@Brother_from_Oz]

Seriously.. Thank you John.. I always love the content you bring AND - it’s really great to see Peter on.. and share his wisdom.. I truly miss those days when him and Howard were in charge.. It’s a shame Peter didn’t get the nod.

[@HelenA-fd8vl]

We are badly let down by journalists, who never ask probing questions.

[@joeljammal]

I don’t mean this with any disrespect, but it’s almost as though Peter is so resigned to the fact that Australia is economically, socially & militarily bankrupt that he’s just ‘enjoying’ the ride down. . He clearly understands why Australia is here, what we could’ve done to fix it and what his regrets were to try and correct its course. . And yet he sounds like he doesn’t think that he can have much of an impact… that it’s too late and that there’s no reversing course. . I enjoyed the conversation but it’s certainly left me feeling an emptiness about the countries future.

[@kenelmtonkin7722]

So, do what he says. JOIN. Get in the fight. He did his bit. Have you?

[@chadjcrase]

You are absolutely correct in my view Joel, but he was very close to being PM. If he feels that way, then what hope does anyone else have?

[@kenelmtonkin7722]

Joel, I'm surprised this was your reaction

[@joeljammal]

@@kenelmtonkin7722 it was one of many reflections. As I enjoyed it but I did get the sense that both of these statesmen, as experienced as they are, understand that we don’t really have a united figurehead to get behind to challenge the many threats they discussed. . It had the same vibe as the end of this convo at 40:40, Douglas Murray interview with the Hoover Institute. . Watching the fall of Rome per say… . kzbin.info/www/bejne/m4K7eZZjqa-Ajq8

[@markmathews6876]

we desperately need this caliber of intellect in power now & not just in Australia , these fellows are rare gems these days

[@barrywalsh7926]

​Lang Hancock flew over the Pilbara in 1952, identified iron ore sites and took possession, making him and his descendants some of the richest people on the planet. When Phillips Petroleum found oil and gas in the North Sea in the late sixties, they had to acquire licensing rights from the Norwegian government to extract it, making the country the richest in the world.

[@davidbrayshaw3529]

The greatest failing of the otherwise great Menzies. Forgivable if the same mistakes weren't made by the Howard Government 5 decades later with our gas reserves.

[@TheHealthLife]

I agree, ANYTHING taken from our land should be given back to the PEOPLE.

[@Christoph1888]

I love both these guys and grew up with them. I was always a traditional Liberal voter. But I had to grit my teeth with some of their assessments. They see the world and the rules as it was. Both have changed. The only way to change the world back to what is was is to first understand the rules then game them. Much of the criticism levied by Peter apply to all msm not just social media. The best point he made was the fact politicians don't vote on principle anymore but perception.

[@notorioushsg1]

Intellectual and thought provoking. This channel is a wealth of knowledge. This issue is.... your demographic is not the ones needing the education/discussion. + your old white and privileged. The younger generation don't want you talking to them.

[@geminiwraith]

An interesting and thoughtful discussion. Thanks gents.

[@VG-cz7yg]

Brilliant interview. We need men of the calibre of these two men to run our country.

[@johnathanlalas4460]

Great work John and Peter....

[@heartofpuregold]

Sit like that today , hard to do in winter when your not well padded😂😂 we miss peter costello both he and tim are such good leaders in their fields. 👏🏻

[@johnstirling6597]

By the look of that neck, Pete has been grazing in a good paddock.

[@grannyannie2948]

​@@johnstirling6597 LoL, whilst we get insects and lab grown food.

[@Iguazu65]

Excellent discussion. Very balanced and insightful.

[@br8745]

Peter Costello seems to have some good perspective, but he seems to really dismiss the struggles of the young people trying to establish themselves. Housing is extremely expensive in real terms compared to just 10 and 20 years ago, and even if you get married, children are extremely expensive due to it being necessary for both parents to work now, and the cost of childcare is insane, that we now live in an age where having children is not only very difficult but disincentivized. We did not choose our society to look this way, and yet we bear its consequences.

[@chriswatson1698]

The area of land within a reasonable commute of a CBD is fixed. So any increase in population makes every square metre of that land more valuable and more expensive. Great for those who own urban land and can sell it. The extra people are great for the developers. They can sell or rent them little boxes in piles of little boxes. Immigration benefits the immigrants themselves and those who are already rich. The very real costs of immigration are borne by the whole community, especially the younger and poorer members of it. Vote for a political party that is willing to stabilize Australia's population size, and allow it to shrink.

[@kenelmtonkin7722]

Peter Costello did not "really dismiss the struggles" of young people. He specifically mentioned that debt is a tax on today's youth and that housing costs are extraordinary.

[@oldman2800]

Turning housing into a currency instead of somewhere to live by through negative gearing has meant a generation have no housing and the thieving older generation may well have a number of "investment homes" to rent out to the young underclass. Ponzi immigration has also aggravated the housing bomb

[@lindsaysmith8119]

@@chriswatson1698 A greens voter is in our midst

[@litlnote-wu6yv]

Seventeen years out of parliament and straight into the culture wars. I imagined i saw a clock work Jacinta Price come whirring down the tabletop crying "onya onya onya onya" on toward the precipice along with Peter's knowing smirk. He knew it worked a treat back then and it works a treat right now.

[@ba1208]

Hi John Please unite with Peter and other likewise minded people and do it for our country. We can never stop, we need to persist, and fight the good fight. God bless and strength to you and all who support and encourage you to keep going.

[@leonie563]

Do you mean stand as Teals in blue ribbon seats?

[@jordanwhisson5407]

Really the highest taxing treasurer and constant liar, Whitlam 19.4%, Fraser 20.8%. Hawke/Keating 21,8%, Howard 23.5%, Rudd/Gillard 20.9%, Abbott/Turnbull/Morrison 22.4%. Averaged out 26 years of religious right wing government 21.9% and Labor 21.1%. And the lazy corrupt religious right wing did as little as they could, helped the fewest people, the least infrastructure. Wonder why the bush is without infrastructure the Nationals failed them magnificently and the Liberals could care less.

[@Tim_in_Australia]

Two greats. A masterclass in commonsense, good judgement and experience.

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@marion4549]

Living in an age of all "knowledge" and no wisdom. Dangerous!

[@backyardprojects9945]

"Politics is downstream from culture". Andrew Breitbart, March 2012

[@k2svpete]

I did like the addition to that, that culture is downstream of values.

[@anEyePhil]

The problem with Politics is the Parties themselves. When Labor answers only to Unions, and LNP answers only to Murdoch, Gina and the IPA, and both support property developers after taking their donations, where is the future? The Community Independents may be the real future of Australian politics. Representation of voters, not donors. Please run a Podcast on this issue, John.

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@chadjcrase]

You're right Phil, but there is an ideological divide. I share your view on independents, but even that is tainted now after the Teals. Better to just accept the basic differences in people, it will be very calming.

[@anthonyomalley6181]

How I wish we still had adults in charge!

[@peterwebb8732]

John… I love your work and thought you were one of the good guys, back in the day. I feel like I’m listening to a couple of genuinely Conservative people talking common-sense. So I’m left wondering, why weren’t the outcomes better than they were? Why wasn’t more done to reduce spending. It is one thing to produce surplus budgets in the midst of an export boom, but only by cutting spending to we create the economic basis for dealing better with an economic downturn. How on earth could Kevin Rudd win office by campaigning on the issue of “reckless spending”? You and Peter are absolutely correct on one issue, that of creating a constituency. The current Liberal and National Parties have no-one who is able to articulate a convincing Conservative vision for Australia. In a real sense, we are turned off politics because there is nothing in politics worth fighting for. Why should I vote Coalition if their only selling point is that they are marginally better than Labor? The Coalition has stopped being the kind of people that I want to vote for. They have abandoned me in pursuit of trendy voters in swinging electorates, which is why I now vote for single-issue parties, on the grounds that they might get something right. Yes… the same issues affect other institutions. I resigned as a Group Officer in the RFS, because I was sick of banging my head against the brick-wall of Sydney-Centric culture. If trying to worth with the system isn’t bringing any results, why should we bother?

[@becsterbrisbane6275]

Stumbled upon this podcast on a dreary Sunday afternoon and I'm not mad (well, I am, but for the reasons discussed here). Thanks for the deep conversation that we HAVE to have, gents!

[@douglachman7330]

Thank you for your generation of perspective context and awareness of fundamental reality across such required topics. I hope many learn about and build upon these truths. Peter Costello like yourself have grown with substance based business experiences with the politics of your time showing such merit. Ie the future fund, the light bulb decision and the reduction of nett federal government debt. Please keep on teaching.

[@marksouthern7542]

I am sorry John Howard didn't read the political wind and give Peter a go. It would likely be a different Australia today. After the Rudd, Gillard, Turnball, Morrison wishy washy pathetic governance. I left out Tony Abbott, because although he wasn't that politically savvy, he was of the same philosophy of Peter Costello.

[@martinjenkins6467]

Yes I'm a liberal voter and great Supporter of Peter Costello. Both sides have been a complete Joke since he left government.

[@robertnicholson1409]

Peter Costello sad, " whoever gets more votes becomes the Government". Albanese's Labor Party are in Government with just 32% of the primary vote. Most people did not vote Labor but here they are in Government. There's something wrong with Australia's democracy when this can happen.

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@schelty9233]

That was extremely interesting and I have to agree with every point made. Common sense and intelligent conversation is a joy to listen to.

[@bradhienzachary]

I hope Johns KZbin channel becomes large and important like many conservative KZbinrs in the US. We need the discussion here in Australia.

[@steviedee4491]

Your show is simply recognizing the inevitable. Civilizations begin (after chaotic realignments usually), they flourish and then the 'benefits' the society bestows upon its people (most conspicuously the young who have not had to fight for it) actually directly contributes to the third step which is the decay and final dissolution. The 'west' is in decline.

[@nevmcc3884]

Most of the East declined centuries ago.

[@chadjcrase]

Western Civilization has a pretty long history now though. Even Greece goes back a lot further, probably at least 3500 years all told. And then one comes to the question of whether or not the Egyptians were a Western civilization, or the Samarians with their potentially better claim.

[@normanmacfarlane6724]

A great conversation Thank you gentlemen

[@klausmuhlhoff1464]

Thank you John . I fully agree with everything you've covered with Peter . But how can we fix it?

[@damianmousley2098]

Great interview and perspectives. Worth sharing for sure.

[@winnielai7455]

There’s no hope if we don’t stop the WHO international treaty

[@HarnessedPlains]

We need more respected voices speaking on real issues not today’s emotional distractions

[@TheIlias333]

Outstanding, thank you !

[@MrGareth777]

This was great! Very interesting to listen to. I especially liked the part about small government. The growth of government is pretty scary around the West.

[@dimbousamra2362]

this is an informative and educational podcast that I enjoy and learn a lot from your guests and you questions and points I have heard some thing a while ago there was an incentive to put into the western education system a corrosive element that will stir dissent and rebellious marksist theories and break up the cohesiveness of the western societies

[@theIdlecrane]

Thanks for the good times...

[@tasd5673]

Aussie watching and half through . I’m glad I’m listening to this I’m young and I understand everything your saying however when I ask my old friends and family they have no idea. They want to watch football and MAFs

[@geoffmcmahon3288]

Both you learned people have convinced me to pay more tax....as soon as I get my next job....I am an engineer of 30 years plus experience but all of the engineering roles are filled by lowly paid foreign visa workers....How about looking at some root causes and put an end to these free trade agreements flooding the country with visa workers who are largely in possession of phony university qualifications. But big business is pushing down salaries by cutting the Aussie out of the equation

[@andretorben9995]

Very similar situation. However it appears these days if you don't "tow the line" your out. No good telling people the truth that something may not work, your labelled as being negative or an obstacle. They would rather everyone agree and go ahead and let if fail then have 20 meetings to try and work out why it didn't work.

[@mangoman9290]

The one major change I have seen in the last 20 years is the change from voting for 'what is best for the country' to 'what is best for me'. When people have no pride in the country and no sense of community the only thing they think about is themselves.

[@gregorybaillie2093]

yep just like these pair of m$##*ts

[@randomvideos9767]

In the current environment many many people will need to act in their own best interest or find themselves homeless.

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@jordanwhisson5407]

That's capitalism for you

[@gregorybaillie2093]

@@joshhoodrat451 Agree but Rome lasted considerably longer than 200 Years.

[@terraloft]

What springs of Living Water flowing from hearts and minds of men of Faith

[@jamesrandell1159]

I would love to have more of these discussions with Great Australian's on the internet please.

[@captainchokdee1039]

Peter left to early. Was privileged to meet him once.

[@guybramwells]

Yuri Besmenovs warning to America in 1984. Pretty much sums up everything that's happened in the last 40 years.

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@zympf]

CO2 has never been shown to drive climate. Talk of "emissions" is counter-productive.

[@philipstallwood9813]

I find myself concerned for the future of Australians. I am only a single individual with no specific training in economics and no political background. I can only imagine what these influential figures think about the current trajectory of Australia.

[@chadjcrase]

Expect the worst, but hope for the best; they are actions of intelligent people in most things I think.

[@joshhall6913]

Happy for you to ring and have a valid argument over anything commented Peter. We don't need a editorial mate.

[@vijay-1]

Very pertinent thoughts

[@peterpan4480]

This man is great. Everything he said can be said for the United State’s.

[@user-km1ie8lc5x]

A fantastic interview.

[@mjr1965]

Peter Costello is the best PM we never had.

[@cjpage101]

What a brilliant interview

[@elizabethblackwell6242]

Please more Peter Costello, John.

[@harmanjeetsingh3955]

Hopefully Peter returns to politics and rises to run Australia, as Prime Minister. We need more people with Peter's sound thinking. Can the Liberals, stand for something whole again?

[@jara8653]

The real question is, whether the current government protects the people of this country as it should, or protects the interest of the dictator - US these days . If it does not protect the people, it's not fulfilling its primary role.

[@aussiefamilybudgetcooking]

Fantastic interview

[@nocomment6768]

I almost agreed everything. Great convo. Addendum: 1- Income distribution must be fixed. Money goes big boys/corps, that create people less expenditure. More debt. More and more government spending. (Sound very socialist).It is a loop. 2- Democratic govs respond to autocratic countries actions are emotional or ideological rather than logical. 3- IF one want to dominate and control the world, nations are problem. Imperial countries destroyed by nations in history, now it is time to destroy nation countries and turn them local city-states. There is power struggle between nationalist vs globalists. Debts will be the reason nation countries will collapse. 4- War in Ukraine, play with 'go' with Russia is a tactical victory, but it is a strategical mistake. Because that 'GO game' power China and result loosing "GO game' with China at global level. I would take Russia (180m/resource rich) my side and tackle China (1.5b/industrial). 5- When Russia occupy Crimea, Putin came and gave a speech. He used TARTAR language and apology. If you know region and Russia's struggle with tartars (Check Tartar Crimean Khanate) that means a lot. Russia gave cultural/economical freedom, religion, tv, education etc etc for local (it is integrating the region to Russia). AT that day, I said to myself (they came, they behave like this) 'Until Moscow collapse, they are not going anywhere'. They may lost it (Germans in WW2), they will come back. Putin goes , Mutin comes, nothing will change they will come back ; that is centuries old story.

[@andyellem]

How can I like this video twice?

[@Ivan-Lesic27]

Brilliant discussion. Sobering, thought provoking and concerning (decline of the west).

[@lieshtmeiser5542]

The problem is all the fellow traveling ideologies of leftism. And fortunately for us, because we vote, after they have their way for a while, and drive us nuts, enough of a majority forms to vote them back out. It never gets rid of it of course, but at least there is some self correction to our corrupted and borked system.

[@Elisacr1]

I hope this guy is teaching the younger generations in his country and giving workshops for adults on financial sanity.

[@jordanwhisson5407]

Really the highest taxing treasurer and constant liar, Whitlam 19.4%, Fraser 20.8%. Hawke/Keating 21,8%, Howard 23.5%, Rudd/Gillard 20.9%, Abbott/Turnbull/Morrison 22.4%. Averaged out 26 years of religious right wing government 21.9% and Labor 21.1%. And the lazy corrupt religious right wing did as little as they could, helped the fewest people, the least infrastructure. Wonder why the bush is without infrastructure the Nationals failed them magnificently and the Liberals could care less.

[@jamesrowlands8971]

"This guy" is one of our most enthusiastic war criminals.

[@Jopacob]

Great interview, could have done another hour on the Voice?

[@brettweary8491]

Absolutely John and Peter

[@royevetts4900]

eliminated our debt?....You mean he sold our gold reserves.

[@GoodmanMIke59]

You and someone else mentioned the selling of the gold reserves. Did not know that. I understood that the West was selling gold cheap, the East buying it up in hordes. Did not specifically know about Australia. But I understand that Australia is a gold producing Nation?

[@nicholasaird8420]

Ha we won’t be allowed to look back in ten to twenty years at the rate we are heading for a totalitarian rule 😢

[@tlb2970]

Not if we don’t comply

[@andrewdegozaru74]

Rather than expecting government to solve problems, I just wish they'd stay out of my life.

[@rollmachinegoweee2701]

I'd like to hear Mr Costello's view on whether the baby bonus turned out to be good policy.

[@tojoetiny4482]

Wash, Rinse, and Repeat; "Doctrine of Discovery", "Manifest Destiny"...get what we need then,take what we want!

[@michaelnewsomegreen5500]

For years I lamented the fact that Bob Hawke & Paul Keating were no longer managing this country, tonight I add two other names to that list, Peter Costello & Kim Beazley.

[@brianwolthers2762]

It's a pity people are not interested in this sort of wisdom. When I share this podcast with friends who proclaim to be interested in these subjects they don't bother listening. Kinda proves the point made in the video, people are interested in emotional content and quick fixes, not rational discussion with ordered step by step solutions.

[@julieciccone3962]

Shallow.. too hard hearing for them !!

[@johnbennett6142]

Not just massive overreach, the behaviour of the Government and police was criminal during the plandemic. Laws were changed when they stood in the way of the totalitarian policy. Media, heath and policy makers were all complicit and must be held accountable.

[@time2kickarse]

100% treasonous behavior..!