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  • Rikki Lambert

The show must go on - and it will in 2023


A difficult 2022 is gone in a blur - but the ride will keep spinning in 2023, Flow news editor Rikki Lambert says

There's plenty of causes for concern in world affairs to here in Australia, but there's so many people invested in the way the world works, there's no grounds for anxiety this Christmas holidays.


What do I mean?


Russia approaching a one-year anniversary of its war in Ukraine. China asserting its regional muscle. Global recession fears. Economics limping out of COVID-19 related lockdowns and restrictions. Businesses struggling to get up and running again. A wetter climate in Australia delivering flooding and wrecking lives, livelihoods and infrastructure.


Yet a quiet voice in the days before Christmas grows to a resounding refrain to the puzzled shepherds of Bethlehem: "Peace on earth, and goodwill to all."


In a world riddled with anxieties, a healthy Christmas serving of peace would do everyone a world of good. We associate peace with armistice and cessation of fighting, but it is the inner peace to endure through difficult times that delivers longer-lasting and communal benefit.


So, let me cut you a slice of peace heading into 2023, but probably not for spiritual reasons.


You see, the show must go on.


As we know all too well in the radio business that is FlowFM, be there drought or floods, calamities or calm, we keep the show on the air.


So too those too heavily invested in the way the world now works will keep the show going, even if there is grievous to trivial pain for each of us.


Many thought the global financial crisis and subprime scandal in the USA would upend the underpinnings of global finance earlier this millennium. It didn't and indeed few have been held accountable for it. There's even a Hollywood movie, the Big Short, having a laugh about the bullet we dodged.


Then came COVID-19, and I'm not here to debate the merits of restrictions imposed in the name of the virus. They did considerable economic harm, but a pharmaceutical-backed research released in December claims Australia avoided $181 billion in economic harm due to its handling of the pandemic. Some I have interviewed in politics claim Australia's handling of COVID was the gold standard.


As with Christmas, the proof is in the pudding as I predict Australia won't be as hard hit by recession fears as we are seeing in the USA or Europe.


That's not to say we won't feel our share of pain in the household budget or cost of running the family business.


We also have governments state and federal generally more than willing to dip into our future tax burden to dish out some dough to help us through a subdued festive season.


As one survey predicts Aussies will spend Christmas at home more than abroad - perhaps once bitten, twice shy on being stuck overseas by their governments - it's great to see Australians getting back to basics.


Holidaying at home, making time to see family and friends, reconnecting and finding ways to enjoy recreation without great cost to the family budget.


No matter what happens in 2023, Australians will crack on having a laugh, looking after their mates and adjusting to whatever the world throws at us.


The Aussie larrikin show must go on, much as some seek to quash it, but more broadly, the economic and political show will go on as well.


Nature has thrown another curve ball of a year to Australians on the land, with some big winners in the cropping sector and losers in flooded areas. It's a reminder that natural forces are little different to political, military and economic forces - somewhat predictable, but capable of literally raining on your parade.


Russia thought it had Europe and the rest of the world over an energy barrel, then tried food blackmail in restricting grain and canola exports from the Black Sea. Europe adjusted, chucked out one ideology (at least, for now, on renewable energy) for another (energy security) and cracked on. It's going to be a miserable winter for some but one where everyone adjusts the carnival wheel to counterbalance Russia throwing its military wobbly.


The Reserve Bank of Australia has foreshadowed more cash rate hikes and thereby more pain for borrowers in 2023. They want to contain inflation and its the only blunt instrument they have to do it. Perhaps a frugal Christmas is one way Aussies will take into their own hands the need to shove that inflation genie back into its bottle. Too bad the same global factors mentioned above will keep throwing rocks at that bottle to smash it open.


Politicians will continue to spend, spend, spend - remember, it's not their money, it's yours - so you feel better and can get through recovering from in some cases the calamities they (or their forebears) imposed upon you.


The controversial Ponzi scheme of the past saw initial investors duped into joining on the promise of strong returns, only to be paid some or all of those returns out of the money invested by subsequent investors. The world is in a massive Ponzi scheme but it is our children and grandchildren who, notionally, are the duped investors paying for our current spending. But never you mind - central banks will produce the dosh or tweak the dials so the show will go on.


I've been around long enough to see the financial reckoning is constantly postponed, and even if a Russia or China breaks ranks to do things their own way, there's billions more around the world in on the game too exposed if the house of cards collapses. The superglue will come out and the house of cards will be reinforced yet again.


My advice to those bemused or angered by what's going on in Australia or around the world is consistent - look after yourself and those you care for. If you can see the house of cards for what it is, invest your time energy and resources in those things you value most, where - as the good book says - 'moth and rust can not destroy'.


'Store up your treasures in heaven', a full-grown Jesus says long after the baby we celebrate at Christmas arrives to tip the world on its head.


If your treasure's in heaven, no government can come and pinch it when it starts running out of other people's money.


Merry Christmas and peace on earth, goodwill to all.

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