Liberalism means: unlimited freedom for capitalists to do whatever they can get away with, and against worker empowerment and organization. This applies to every liberal party, whether its the Australian liberals, or the US ones.

In this context, the meme is talking about liberals not in the American conservative vs liberal sense, but in the liberalism sense. Whereas leftists, who most Americans would think of as “extremely liberal”, are not actually liberals at all, since we oppose free market capitalism and private property.

Liberalism is the ideological component of Capitalism. It usually espouses principles like individualism, freedom, etc regardless of how poorly Capitalism achieves these aims, and does so on the basis of Private Property Rights. Liberalism has major roots in the French Revolution and was popularized by the Bourgeoisie to cement themselves as the next ruling class.