And do you support the ongoing corporate welfare that is our private health insurance "industry", and the creation of a "financial services industry" that now is 30% of our GDP? (yet creates little of value)
What do you think of the "too big to fail" 4 banking pillars that were propped up by government deposit guarantees, yet can profiteer endlessly? Will these same banks deal with a 30% housing fall without more government assistance? (Do they deserve it?)
How will the generational wealth shift be balanced now that the Howard government squandered a decade with no investment and a shrinking middle class?
As with the US, we kept interest rates too low for too long and now rely on Chinese savers for our growth. We also tax savers and force them to invest in risk so as to avoid negative income. The system is rigged for profit at the expense of robustness. Economics is *such* as dismal, corrupt exercise!

WOW!, what an article just to plug his up coming book. Ozandy what you are saying is all well and good, personally i agree with you the whole method of economic activity is BS never mind policy who cares.
Only one problem, it is the system we have and it ain't goin anywhere real quick like. I wonder what model you may suggest as all the currently known systems have been tried and failed. You could come up with a new model but don't expect much support without an armed revolution.
In the end capitalism and the free market economy is the system that has for now gained the upper hand as it panders to the most powerful emotion we have developed over the past 30 years, acceptance of GREED!. Thanks to the boomers greed has become the centre piece of the economic plan. Grow, consume, purchase are the mantra's but unfortunately the result is overpopulation, debt and exploitation of the community and countries we can use to our own ends.
OH and did i say the article was a load of self serving dribble just to sell a book.

You both took the words right out of my mouth.

No one seems however to have noticed that both the NAB and Westpac were bailed out by the US Federal Reserve and the RBA borrowed 53 Billion from the same source during the GFC.

http://www.theage.com.au/business/nab-westpac-tapped-fed-20101202-18i58.html

http://www.moneymorning.com.au/20101207/secret-banking-business.html

David