It’s been a “when Gina met Elon” encounter, and while the meeting of these two entrepreneurial minds appears fascinating, there are political and economic implications that can’t be ignored here in Australia.

Given this and in a world now ‘Trumped’ by the voters at November’s US election, I believe we are set to read stories that were never contemplated as probable, let alone possible. And much of it has come about because a demanding, digitally empowered minority has threatened a once politically, unmotivated majority to like what Donald Trump has offered.

And it might not be just an American thing!

However, with many promises from politicians of a different future there can be unknowns that come along with significant changes.

One of those breaks from the old, or pre-Trump US political ways of Washington and the White House, was the appointment of the world’s richest man, Elon Musk of Tesla fame, who will be head of the administration’s Department of Government Efficiency to cut bureaucratic waste and bloat.

And the dailymail.co.uk reports this $466 billion entrepreneur has met up with Australia’s richest person, Hancock Mining’s Gina Rinehart, whose wealth is said to be $30 billion.

The question may well be asked: why did these two meet up? Gina mines iron ore and Elon makes cars and rockets ships, and while they have billions in common, they’re core link is that they both billionaire, groupie-supporters of Donald Trump.

The Daily Mail shows a pic of Gina and Elon at a private function in Florida taken on the morning after Trump’s triumph on November 5. There is another photo of Gina with Donald’s daughter, Tiffany Trump, at the Republican’s election gathering in Florida and the Ms Hancock wears a poster on her chest that reads “DRILL BABY DRILL”!

This gives us a clue on what is expected from the big end of town because of this Trump win, and it will be intriguing to see in elections ahead, and especially with ours, expected in May, if there is going to be a swing to the right from majorities who might be won over by Trump-like, promises.

For a long time local miners have worried about new taxes and regulations for environmental reasons, and the Trump win, as well as the increasing unpopularity of the Albanese Government and the Greens, would be pleasing big business groups.

So, what did Elon and Gina talk about that might be a worry for some Americans and potentially some Australians, if we swing to the right and Peter Dutton at our next election?

This is what The Daily Mail reported was discussed:

1. Australia copying this Trump drive to kill inefficiencies.
2. Gina thanked Musk for supporting Trump and his fight against those who have misrepresented the President-in-waiting.
3. The similarities of the US and Australian economies, which both run big government debts, that leads to high taxation, high inflation and then, high interest rates.
4. The importance of free speech.

On this latter subject, the Daily Mail reminded us of the following: “In October, X successfully resisted a legal demand from Australia's e-Safety Commissioner to remove footage of the stabbing of Sydney Bishop Mar Mari Emmanuel.”

So, what’s the significance of this Gina and Elon get together?

Billionaires and big organisations in Australia would have been motivated to get behind the Coalition to push for policies that will enhance productivity, and there is bound to be arguments against the impact of leftish policies, such as alternative energy and the rejection of fossil fuels, that is leading to higher cost of living impacts.

The US election result was partly driven by a backlash from many because of leftish policies on immigration, abortion and others, but political analysts insist the cost of living impact of the post-Covid era was the greatest motivator for Americans to take a punt on Donald Trump again.

The irony for many of those voters could come with the reality of higher tariffs that could actually raise inflation and the cost of living. This can’t be lost on Trump, and we might find his tariff threat ends up being a trade bargaining chip for deals that actually help bring inflation down.

As economist, I live in hope on that one but the big issue for many Trump supporters might be the impact of Musk on US efficiency. In his own businesses, he was a fanatical searcher for productivity and lower costs, and he was never afraid to sack employees who failed to deliver.

Productivity is a magic bullet. It makes inefficient processes cost-saving, and it brings more goods or services. However, like with real bullets, there can be casualties who lose their economic lives, such as public servants, overpaid consultants and businesses that overcharge and under-deliver.

Musk could unleash a productivity genie that sounds good for the big economic picture as it will bring down inflation and interest rates, as well as pump up profits for the likes of Elon and Gina, but there will be casualties and many of those might have voted for Donald Trump!

This is bound to be a message that Labor will take to the polls in May about what Trump-like policies might bring for local workers. The question, I guess is, how similar are mainstream Aussie voters to Yanks?

We should find out in May.