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Distrust in government, banking industry needs urgent attention for sake of economy

Ian Verrender comments on the ABC’s website (10.10.16) that, in light of the UK’s Brexit vote earlier this year, and with Donald Trump’s continuing ‘shake-up’ of the US presidential race, ‘it’s time for business and politicians to face up to the trust deficit’.

He continues the analysis:

‘Can you have too much of a good thing? The developed world, including ourselves, certainly appears to believe so.

‘Britain’s vote to exit Europe, the rise of Donald Trump and the support of nationalist movements across Europe all point to an upwelling of discontent among a swathe of the population.

‘Here at home, the unease has manifest itself in a deeply divided Parliament that extends to open conflict not just between but within opposing parties. And, as the events of the past week have shown, much of that springs from a deep distrust of those controlling the economy; bankers, financiers and multi-national corporations.

‘Australia may have avoided the global recession that wreaked havoc on American, British and European societies. But as the mining boom unwinds and global growth continues to slow despite the record low interest rates, uncertainty about the future has led to loss of faith in our leaders.’

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