Australia is rich, dumb and getting dumber

[Run n Spread]

I'm not sure both sides of politics should equally wear the blame when one of them has been in power with one six year interuption for the best part of a quarter century and they repealed or neutered pretty much everything Labor did in that time when they regained power. The parlous state of the country's economy lies with one Party alone even though Scummo would have us believe his government is still on L plates.

Have to agree with this. Whatever your politics fact is Labor has been in opposition majority of the last 1/4 century. They seemed to get blamed for a hell of a lot when really there is not much to go on. It is smart marketing by the coalition and says something to me about the weirdish psychological state of the country. What I mean is if you vote coalition all power to you but everyone I seem to speak to says "Yeah it is s**t but Labor is worse and would send the country broke." (What are they basing it off exactly?)

 

[Run n Spread]

Australia is never going to be a broad based high tech economy. We just don't have the population for it. The idea of "Big Australia" with double or triple the population is out of favour.

So what we should do, and do well, is specialise. Agriculture and mining, but we should get into minerals processing and crude metal refining. Some small scale high tech manufacturing in aerospace and shipbuilding - partly for reasons of being able to build our own defence equipment. We should aim to cover our own service industry needs and cover our own civil engineering and infrastructure building skills.

There is no harm in speclisation. Doing what we do best and doing it well. If we adopt this model we will find that we are opposite to most other developed nations and would have a complementary set of needs with other potential trading partners.

We should have a focus on developing rare and expensive metals too. Particularly titanium metal, lithium and REEs. Refining them in this country and not just exporting the ores. Also it would be great if we could develop some way to convert solar energy into exportable form. These should be our national policy goals over and above just exporting more coal.

True but we seem to be going opposite and a) trying to specialise in high tech and/or trying to float by on services or importing a big Australia.

 

[SBD Gonzalez]

I'm not sure both sides of politics should equally wear the blame when one of them has been in power with one six year interuption for the best part of a quarter century and they repealed or neutered pretty much everything Labor did in that time when they regained power. The parlous state of the country's economy lies with one Party alone even though Scummo would have us believe his government is still on L plates.

Never a truer word was spoken. When are these turds actually going to take responsibility for something?

 

[SBD Gonzalez]

Hats off to both major parties who have left us in this parlous state.

Australia is rich, dumb and getting dumber

A Harvard study exposes the paradox of the Australian economy: the eighth-richest nation in the study has the export profile of Angola.

www.afr.com

Worth a read, and finishes with a good question: Surely an advanced economy such as Australia can do better than Senegal, which is one rank higher on Harvard's list?

We are sleepwalking into a national clusterfark.

 

[go you pups]

It is horrendously pessimistic but that is Australia.

It is also the reason that the myth of worlds biggest coal mine just decided an election. It was the best hope either party could offer. And it’s a mirage anyway

Owned by an Indian with its produce getting shipped off shore

 

[DAlembert]

And meanwhile Australians over the past 25 years have never been better off. If you are not I would suggest that is YOUR fault not the fault of any Government. Everyone finds their own level. Whether you think you can or can't YOU are right. " I'm all right jack keep your hands off of my stack" Pink Floyd.

 

[Present Not Past]

James owns this thread.

 

[Hawk Dork]

James owns this thread.

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Inheritance has been kind to him

 

[DAlembert]

James owns this thread.

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Saw the "big fella" Kerry that is...on Bondi Beach in 80's. I would suggest James has a bit of growing to do yet.

 

[Balls In]

I'm not sure both sides of politics should equally wear the blame when one of them has been in power with one six year interuption for the best part of a quarter century and they repealed or neutered pretty much everything Labor did in that time when they regained power. The parlous state of the country's economy lies with one Party alone even though Scummo would have us believe his government is still on L plates.

The lack of "economic complexity" is not a measure of stupidity. In fact concentrating on our strengths and becoming the best in the world at it is smart not dumb. We are struggling to emerge from the GFC and most of the problems stem from the economic vandalism inflicted by Rudd Gillard Rudd.

 

[Balls In]

Surely an advanced economy such as Australia can do better than Senegal, which is one rank higher on Harvard's list?

Tells me its the Harvard list that's useless.

 

[Bulldog Joe]

The lack of "economic complexity" is not a measure of stupidity. In fact concentrating on our strengths and becoming the best in the world at it is smart not dumb. We are struggling to emerge from the GFC and most of the problems stem from the economic vandalism inflicted by Rudd Gillard Rudd.

Be careful with statements like this. You are inviting the ridicule of the left.

We can blame the coalition for the ills and ignore that it only took 1 term for Rudd/Gillard/Swan to spend all the accumulated surplus of Howard/Costello

 

[Hoops]

Be careful with statements like this. You are inviting the ridicule of the left.

We can blame the coalition for the ills and ignore that it only took 1 term for Rudd/Gillard/Swan to spend all the accumulated surplus of Howard/Costello

 

[Bulldog Joe]

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You choose to believe what you like. I happily concede that Hawke/Keating outperformed the closet leftie in Fraser, but there is no way any thinking individual could consider the Australian economy was in a better place in 2013 when compared to 2007.

 

[Balls In]

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Love the semi invisible line under the "does this narrow it down for you". Wonder where you dredged this from,

 

[its free real estate]

the Australian economy was in a better place in 2013 when compared to 2007.

How about now?

 

[SBD Gonzalez]

Be careful with statements like this. You are inviting the ridicule of the left.

We can blame the coalition for the ills and ignore that it only took 1 term for Rudd/Gillard/Swan to spend all the accumulated surplus of Howard/Costello

If you think a surplus is a sign of economic competence you have no idea. Are you really that ignorant of basic economics?

 

[Bulldog Joe]

If you think a surplus is a sign of economic competence you have no idea. Are you really that ignorant of basic economics?

So you think running an ever growing deficit is economic competence?

 

[Bulldog Joe]

How about now?

Well we are improved from 2013.

 

[Gough]

It didn't get much press because it happened in Adelaide but Rob Lucas used low interest rates to justify debt when he handed down the last state budget. Honest words from a Liberal Treasurer, you could have knocked me over with a feather.

 

[its free real estate]

Well we are improved from 2013.

The economy is worse by most measures

 

[Engimal v3]

The lack of "economic complexity" is not a measure of stupidity. In fact concentrating on our strengths and becoming the best in the world at it is smart not dumb. We are struggling to emerge from the GFC and most of the problems stem from the economic vandalism inflicted by Rudd Gillard Rudd.

The Labor Government has been repeatedly lauded, domestically and internationally, for their handling of Australia's economy during the GFC.

 

[DAlembert]

The Labor Government has been repeatedly lauded, domestically and internationally, for their handling of Australia's economy during the GFC.

Pure DUMB luck for Labor.

 

[Engimal v3]

Pure DUMB luck for Labor.

If Labor's good economic management is down to good luck, is the Coalition's poor economic management just bad luck? Or are they just inept?

 

[Balls In]

The Labor Government has been repeatedly lauded, domestically and internationally, for their handling of Australia's economy during the GFC.

Lauded internationally for having a massive war chest to spend more like it. Domestically they were heavily criticised and bounced from office for their reckless, misplaced spending that 12 years later the economy is still suffering for.