Peter, I absolutely agree with you on this. Not that you'd hear about it on the news, but our recent juvenile car theft issue in Townsville had many similarities.
Thankfully, few lives were lost, though it was mostly loss of property (the stolen vehicle + what was "collected" on the way).
I won't cite examples as the demographic is clear, and this thread will become a ruckus/be locked. The common theme is there were zero consequences for the offenders, with many racking up 30+ offences between court appearances. In short, your concerns would be well founded in my locality.
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