I’d like to respond to the propaganda that is the UAP ad in last week’s Echo (p.7), which claims ‘$1 trillion of Liberal and Labor debt means higher inflation and higher interest rates’ and then proceeds to pose the problem: ‘How will you afford to pay your higher interest rates?’.
A graph is provided to allow the voter to see that, indeed, government debt has risen steadily since 2008. No graphs are provided of interest rates however, probably because they would demonstrate the patent lie being peddled – interest rates have steadily declined in inverse proportion to the rising government debt, just as Modern Monetary Theory (MMT) predicts, contrary to the anti-empirical dogma of mainstream economic theory.
What is the purpose of this political propaganda? That it is a doctrinaire relationship uncritically regurgitated by a well-schooled economist, with no interest in reality, is certainly possible. It could equally be a scare tactic for indebted voters who are too busy to critically assess the propaganda and [thus] hand over their votes to the UAP.
As for inflation, it too, contrary to the scare tactics, has been low during the relevant period. Asset prices have skyrocketed, but they are not counted in inflationary metrics.
For four decades The Echo has printed the stories some people loved, some people hated, and some pretended not to read. If you want us to keep telling the truth, the real truth, not the sugar-coated version. We’ll need your support to keep the presses rolling. 
