commonwealth

The IMF Principle

DeadVim

Go fer it, organise a petition, a fuggin movement, mobilise the masses, I'm well overdue

isgraham

It depends on how you define OK if it's simply in terms of GDP then yes its doing OK however in my opinion that's way too broad a definition of doing well or badly. Employment is difficult to judge by as the stats are not really comparable as different countries use different measures to define employment.

commonwealth

dont every country use the same International Labor Organization measure of unemployment?

slapphead_otool

You could extend that logic and say - "well Australia is doing Ok but in the Weevils per Kg of rice measure it doesn't stand up to Cambodia".

Or you could use the left handed blue eyed undertakers assistant ranking, I think Australia doesn't do that well there either.

I am happy to use GDP.

Others may use the "Miles to my mums house" index, or the "nights per year I can play darts with my old mates" measures.

(North Korea has zero unemployment I am told)

alipally

up until the Mid 70's the UK used to run on the 'full employment', and running a budgetary surplus to 'see us through the harder times" economic model... it all went tits up Mid 70's (plenty have tried to explain it but nobody really can) and got much, much worse early 80's... when Mrs Thatcher decided that it wasn't the way to run a country....

Let's have a war and sell everyone their council house.... let the Loony lefties (AKA the Labour party) commit political suicide with unilateral Nuclear disarmament... We'll stay in power, regardless of who does or doesn't have a job! Unemployment rates have never really got back to the 1.5% that they were in 1970......

Stephen

What communists are you talking about?

I know of no country that has achieved Communism, now or in the past. You mean socialism perhaps?

Or are you peddling out the tired old rhetoric that you watched on some glitzy propaganda news network owned by some media mogul who's only interest is getting you to work harder so that they can make more money from you?

Ah, I thought so

Kapri

That really made me laugh, I had been thinking something similar

commonwealth

someone is jealous because the north sea oil is almost running dry.

Stephen

It is as plain as the nose in front of you.

Australia is reliant on two things which are out of their control. That is not healthy.

1) One track economy based on demand from another nation (which is showing all the signs of slowing down.)

2) A property market which is hyper inflated and about to burst.

You will hear all of the utopians say that China will continue to grow indefinitely and that the fundamentals are different for property in Australia... yada yada yada...

commonwealth

if china runs bankrupt the world bleeds to ruins. not just oz btw.

chris955

Oh come on, anybody could have missed that, it was just a little hiccup. My prediction is some economies will grow a bit, some a bit more, some a bit less and the average person wont have a clue or care.

chris955

I cant hear you LA LA LA LA, just look at those beautiful beaches.

commonwealth

it is usually the relatively better off who don't give a crap or who got no clue

chris955