Alan Austin, you must be dreaming if you think your article demonstrates why Australia is at the top of the tree or why the US is in the situation it is in.

Good heavens, an ex-ABC employee who now lives in the socialist paradise that is France and who doesn't like the Coalition's economic stance. Wonders will never cease.

Come back to the ABC, Alan, you'll feel right at home.

Joe Hockey may be wrong in assuming that the US bears a smaller regulatory burden than Australia, but he is absolutely correct in pointing out that reducing that regulatory burden is one way to boost productivity and wealth. Australia's fortunate economic situation at the moment is largely the result of having stuff in the ground that people want to buy. Holding on to that wealth, and expanding it, requires rational economic policies that make it viable to own and run businesses in Australia.

Oh come on Alan, you've got to stop talking tripe.

You live in a country that gets its power from nuclear. It does very well indeed supplying that power to the fools that have put a fortune into alternative power, & find themselves having to get their requirements from France.

Surely you can see Germany has stopped backing away from alternate power, only because it is now running like all hell is chasing it, to get away from their fiasco. Their grid can't handle their wind power when it's blowing, & they need French Nuclear when it's not.

The UK is paying a fortune to the wind people to NOT generate power when they can, or their grid will collapse, yet 4500 windmills was producing less than 1.6% of their power last month. Then they have over 100 GOVERNMENT MPs rebelling against their own government to stop the garbage. Sounds like real success.

The Danes have to give their wind power to Sweden to get rid of it, & have none when needed. How can it be that I know this from Oz, & you don’t, when you are sitting in the middle of the poo alternate power has caused right now.

If this is what you call the global consensus regarding emissions reduction, "the reality that emissions are now reducing in Australia and emerging green energy alternatives", you must be as blind as our rat bag greens, & not worth reading.

neverwas is still on the shores of that river, it must a great place to sit and watch reality happen to other people.

"Australia’s productivity has surged in the last six consecutive quarters to an all-time high of 164.82 points."

The definition of productivity used to measure the above is: "Productivity is the real value of output produced by a unit of labor during a certain time." This is a very simplistic measure, as it does not take account of input factors other than labour hours. The author's claim ignores the fact that very high commodity prices, e.g. for iron ore and coal, raised the value of output inordinately in those quarters, thanks to the capital intensive mining sector. Labor has in fact been responsible for applying policies that reduce productivity, viz. raising the costs of employing labour and substantially raising the cost of energy by levying the carbon tax and forcing the use of more high-cost wind and solar energy.

"Yes, energy costs have risen. But why? Mr Hockey seems unaware of the global consensus regarding emissions reduction, the reality that emissions are now reducing in Australia and emerging green energy alternatives."

It appears that AA was inflicted by pro-AGW ABC group-think , and, like others who unquestionably accept what the Left-biased ABC promotes, maintains that unshakeable belief in AGW.

Perhaps, not surprisingly, AA makes absolutely no mention of the massive budget deficits that Treasurer Wayne Swan has run up during the Kevin Rudd and Julia Gillard stints as Prime Minister. One wonders what type of French wine the author drinks to keep him in a semi-dozed state.

“Mr Hockey seems unaware of the global consensus regarding emissions reduction, the reality that emissions are now reducing in Australia and emerging green energy alternatives.”

Have you ever given even a passing thought to telling the truth, Alan?

You could not be unaware that the “green energy alternatives” are an absolute failure.

Germany, that great backer of green alternatives, has become painfully aware that they are non-viable nonsense. When 700,000 households had their power cut off for non payment, because the green energy generated huge power bills, the level of consciousness of the nation was sufficiently raised to recognise the Climate Change fraud for the debacle that it really is.

Australia is in better economic shape than a lot of the world. It had 11 years of good economic management, which included paying off the huge debt previously incurred by Labor and building of a healthy reserve, before the current clueless vandals lied their way into office, dissipated the surplus, and incurred the huge current debt.

The rest of the world had socialist government in the lead up to the GFC, and fared far worse than Australia, despite our continued Labor mismanagement. We would have fared far better under a government with an established pattern of good economic management, like the Coalition.

The US is a particularly sad case. It had the opportunity to have Romney as President, a man who made billions turning around bankrupt companies, whose talents were sorely need by his country, but it returned the Black Dunce for another term.

Try fiction writing, Alan, you have a deep aversion to facts.

The usual tripe from an author who is so unabashedly pro-ALP that no criticism of the most criticisable government in the history of Australia will ever be written by him.

AA's support of emissions trading is typical; this has failed everywhere; it has failed because it is the product of a scam and a lie, AGW. It is also a failure because green, renewable, sustainable, call it by whatever euphemism you like, energy does not work; it is as big a lie as AGW.

AA should listen to the Morici interview here:

http://www.abc.net.au/radionational/programs/breakfast/dow-jones-sails-to-new-record-high/4555052

And again it is NOT what Australia is now, it is what it could have been without the blight of the worst, most incompetent government in Australia's history making every wrong decision over the last 5 years.

But anyway, the fact that AA can still get a venue for his tripe is a credit to OLO and a stark comparison with what freedom of expression would be like if Gillard's minions win another term, and as can be gleaned now from the censorship which exists at the ABC. I bet Morici doesn't get a return invitation.

What moron outfit pays that mutt ?

Alan,

I read the titleand then the blurb,

'Australia’s next treasurer emerges from the shadows

The philosophy of the man who would be Australia’s next treasurer now revealed.'

and I thought great here's an article about someone Alan probably knows well.

Then you went and dissappointed me. You wrote about Joe Hockey instead of Bill Shorten.

You are full of surprises.

Not sure if it's liberal party staffers or the flat earth group that is trying to flame this post?

cornonacob,
Neither of them are "flaming" anything or anyone. It's sane people trying to get the too indoctrinated ones to wake up & get a life.

Interesting comments. Thank you, all.

Just a few responses:

@ Chris Lewis: Correct. Demonstration of why Australia is at the top of the tree is found elsewhere. Links available, if desired.

@ Senior Victorian: No, France is not a socialist paradise yet. After so many years of UMP rule it will take a while for the Garden of Eden to regrow.

@ Jon J: Re “Australia's fortunate economic situation at the moment is largely the result of having stuff in the ground that people want to buy.”

Are you sure, Jon? According to whose analysis?

Plenty of other nations with strong mineral exports found no protection through the GFC – Brazil, Russia, the USA, South Africa and others.

So it would seem there were other factors. No?

@ Raycom: Re “Labor has in fact been responsible for applying policies that reduce productivity.”

Are you sure? Did you check the linked graph from Datastream International?

Re: “the massive budget deficits that Treasurer Wayne Swan has run up …”

Massive according to whom, Raycom? By what international comparisons? Was not this the specific lever – borrowing modest sums while credit rating is at an all-time high, interest rates are at an all-time low, and stimulus spending is required – which rocketed Australia’s economy to the top of the pile?

@ Leo Lane: Re: “incurred the huge current debt.” Same question, Leo. Huge according to whom? By what comparisons?

Australia’s puny debt is the envy of the world. Every nation now wishes it had done exactly what Australia did through the GFC. No?

Re: “… an established pattern of good economic management.”

Leo, do you accept that Australia was ranked 5th or 6th in the world in 1996 after the Keating reforms? Then slipped back to about 11th during the Howard/Costello period? And is now number one by a street?

@ Cohenite: Re: “support of emissions trading.”

No, not true, Anthony. I don’t support it necessarily. Just note that it is happening and appears to be reducing emissions. That’s all.

Cheers, AA

Plenty of other nations with strong mineral exports
Alan Austin,
the other nations can see where Australia is heading & they're biding their time. It's called watching what's actually happening & common sense business practice.

Australia’s puny debt is the envy of the world.
Really ?
Does that mean our debt is the smallest ? Why is then that our workers' living standards are slipping away towards the poverty line ? I think that's just lefties crap-talk to try & keep the big con to extract more money out of the taxpayer. What other Nation is as over regulated & taxed as this country & still claims first world status ?

appears to be reducing emissions.
where's that evidence ?

Hi Individual,

Thanks for responding.

Yes, Australia’s debt is a puny 22.86% – the second lowest in the developed world. Only Luxembourg is lower [just slightly] on 20.85%. Both are way below every other liberal economy.

Luxembourg and Australia are definitely the envy of the world on debt. And Australia is way ahead of Luxembourg on everything else.

Look at the UK, Germany, France, Hungary and Canada. All strong economies. All now above 80%.

The USA, Belgium, Iceland, Ireland, Italy and Singapore are close to or above 100%. Japan is almost 230%.

You will notice even China has debt to GDP higher than Australia’s – even though they have loaned trillions to the US and Europe. Why does China also have debt? Because at the right time, this is extremely strategic economic management.

In historic terms, 22.9% is not large at all, Individual. Australia exceeded 50% three times in the last 100 years and once exceeded 100%.

Confirmation of Australia’s remarkably sound debt position comes from the four international credit rating agencies which have all promoted Australia to the top ranking – one of only five economies in the world with this accolade.

Australia joined this exclusive club for the first time ever in November 2011.

I understand the source of your negativity on this, Individual. But it is unwarranted. You can cheer up. Really.

No, your workers' living standards are certainly not slipping away towards the poverty line. Why do you suggest that? It is not true.

And as to your question, “What other Nation is as over regulated & taxed as this country & still claims first world status?”

Well, the answer to that is on the Heritage International site here:

http://www.heritage.org/index/country/australia

Australia is one of the three least-regulated nations in the world – just behind Hong Kong and Singapore. And it is much less regulated now, according to Heritage, than it was when the Coalition was in government.

You don't need to be so gloomy. Wake up and smell the GDP annual growth rate, Individual.

Cheers, AA

Global emissions of CO2 are rising rapidly:

http://wattsupwiththat.com/2011/09/21/kyoto-fail-co2-emissions-still-going-up/

Australia's emissions also rose to 2009:

http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=90&pid=44&aid=8&cid=AS,&syid=1980&eyid=2009&unit=MMTCD

Carbon trading and every other scheme to reduce CO2 is not only inherently corrupt in terms of scientific justification but do not work either.

Hi again Individual and Cohenite,

The source of the observation in the article that "emissions are now reducing in Australia" comes from here:

"The lower demand for electricity and delivery of cleaner electricity have meant that due to a combination of factors overall emissions in the National Electricity Market are down from around 88.9 to 81.3 million tonnes in the first six months of the carbon price. This is a decline of 8.6 per cent or around 7.6 million tonnes of carbon pollution."

That's just in the first six months. Sounds pretty impressive to an outside observer.

http://www.cleanenergyfuture.gov.au/wp-content/uploads/2013/02/Emissions-In-The-National-Electricity-Market-Factsheet.pdf

"This is an improvement of 6 per cent, as a result of cleaner electricity being delivered from our electricity grid with increased hydro-electric generation and curtailment of emissions-intensive power stations playing a significant role in this outcome."

Good ole Hydro, hated by the greens, the only 'renewable' which works; pity they didn't build more dams.

And what does this mean:

"curtailment of emissions-intensive power stations"

Here is a list of all energy suppliers in Australia:

http://terrycardwellsblog.blogspot.com.au/2010/05/principal-power-stations-in-australia.html

Which "emissions-intensive" power stations were curtailed during this period?

Alan Austin,
These figures can not be argued with on face value but & a very definite but it is, they do not reflect realistic standards of living for those on the standard wage. We could say for argument's sake that Australia is really well off because some country just gave someone in Australia a huge sum of money for iron ore etc. for many millions of Dollars. And, yes it does sound great but does this money filter down through the sieve of economy ? No it doesn't because it goes to multinational companies first & the rest is filtered off when it hits the public service sorting tray. It stops at the $150,000/year level.
Things may look pretty rosy on your level but down here where I am it does look bleak believe me. I spoke with a pensioner mate today & he told me that at age 72 he has a real battle to cope with daily life on $600 a fortnight & up here he doesn't have heating expenses. I really can't see how they do it down South.
When you do your surveys you really should only knock on doors with no car in the
driveway to get real figures.

Alan,

can you explain, if what you claim is correct then why are 70% of Australians rejecting Gillard and Swan and the labor
party?

How can the majority of us be getting it so wrong?

Must be something other than money that is shifting our attitudes, eh?

Hi Keith,

Happy to respond. But first, can you answer these, please?

1. During the infamous 2009-10 Pink Batts Disaster Shambles, did the rate of fires, injuries and deaths:

(a) rise to ten times the rate in the insulation industry during the Howard years
(b) rise to only four times the Howard years rate
(c) stay at the same rate as during the Howard years
(d) drop to one quarter of the Howard years rate

2. The MP forced to resign from federal Parliament following allegations of criminal conduct during the current term was a:

(a) Liberal MP
(b) Labor MP
(c) an independent
(d) none of the above. Didn’t happen.

3. In January, Tony Abbott told the National Press Club “the rest of the world was not going anywhere near carbon taxes or emission trading schemes ...”

That was untrue and insulting to Australia’s allies – almost all of whom now have hard-won abatement schemes.

In the weeks since, the number of reports on this bizarre lie in Australia's mainstream media – Murdoch, Fairfax and the ABC – has been:

(a) about twenty across all media
(b) only about ten
(c) just the one
(d) none

4. There have been two extraordinarily costly blunders by treasurers in Australia’s history. Both well-kept secrets.

One was $4.5 billion in Australia’s reserves lost gambling on foreign exchange markets.

The second, selling most of Australia’s gold reserves at near rock bottom prices just before spectacular price rises – giving more billions to speculators overseas.

That hapless treasurer was:

(a) John Howard
(b) Paul Keating
(c) Peter Costello
(d) Wayne Swan

5. Shortly before the 1996 election shadow treasurer Peter Costello was “burning with a cold anger” at the Keating Government when the Aussie dollar fell to 74 US cents.

A weak dollar, he said, "impoverishes every Australian".

In September 2001, after Costello had been treasurer for more than five years, had the Aussie dollar

(a) risen 10% to 81 US cents
(b) risen 33% to 98 US cents
(c) dropped 33% to 49 US cents.
(d) stayed at the same level

Thanks, Keith.

Hi Alan

My answers to your desperate questions.

1 Don't care.

2 Don't care.

3 Don't care.

4 Don't care.

5 Don't care.

So Alan

A. Can you explain, if what you claim earlier is correct then why are 70% of Australians rejecting Gillard and Swan and the labor
party?

B. How can the majority of us be getting it so wrong?

C. Must be something other than money that is shifting our attitudes, eh?

Hi Keith,

Hmmmm. From earlier discussions we have had, I'm not sure it is true that you don't care about these matters.

Are you sure you don't care? Or perhaps you are not sure of the answers?

It seems there are two Australias. One is reasonably informed about the world and knows the Rudd-Gillard period has had the best record of ministerial integrity in the Westminster world since 1820, that many social reforms have been implemented, that the Australian economy is now healthier than it has ever been, that it is now the healthiest economy in the world by far, that taxes, interest rates and unemployment are lower now than during the Howard years, that the rate of deaths in the insulation industry during the stimulus implementation fell to a quarter of the rate of the Howard years, and that the only MP to be forced from Parliament as a result of criminal conduct in the current term is a Liberal.

The other Australia believes the Howard years were the good old days, the PM is a serial liar, that climate change is a hoax, Labor has destroyed Australia’s economy, the stimulus spending was a fiasco, that Peter Slipper is a corrupt Labor MP – because that is what they are told to believe daily by Fairfax, Murdoch, the ABC and Macquarie Radio.

And on actual facts and figures, they either don't know or don't care.

Opinion polls measure this divide to some extent. The election outcome will depend on which group is larger come September.

Cheers, AA

It seems there are two Australias.
Alan Austin,
Finally you got something right but only partially because the Rudd/Gillard years are far worse than the Howard years. Also if you think the Labor Governments of Rudd/Gillard had integrity you need to seek help urgently.
Wikipedia doesn't agree with you either.
Integrity is a concept of consistency of actions, values, methods, measures, principles, expectations, and outcomes. In ethics, integrity is regarded as the honesty and truthfulness or accuracy of one's actions. Integrity can be regarded as the opposite of hypocrisy,[1] in that integrity regards internal consistency as a virtue, and suggests that parties holding apparently conflicting values should account for the discrepancy or alter their beliefs.

You don't know what you are talking about Alan. Under any other government Australia would be enjoying more prosperity without a massive debt of over 1/4 trillion, which is entirely a product of Labour's mismanagement.

The NBN is a failure; the ABC is a tainted shadow of its former self, as are the CSIRO and BOM. Policies reflecting the lie of AGW and pernicious ideology of the Greens are weakening Australia's great resource advantages.

Labour bungled a fairer distribution of the wealth from the mining boom while similtaneously increasing Sovereign risk.

The Finkelstein and Roxon inroads into freedom of expression could only have come from a political perspective which is inherently despotic.

The inability of this government to control its borders not only weakens this nation and causes great expense and social dislocation but is directly responsible for the deaths of hundreds of people and the enlargement of international criminal gangs.

It's leader is a liar.

This government is terminally incompetent and I believe motivated by a scorn for the Australian population.

Hi again Individual and Cohenite,

Agree with you, Anthony, on the ABC. Not sure about the climate matters. Not my area.

But on economic performance where I do access all the data and a range of opinions from around the world, it seems your comments are not really supported by any evidence at all.

So how did you go with the quiz, above, Anthony?

Meanwhile, here are two more:

6. According to Barry Jones, Canada fared second best in the world through the global financial crisis. Godzone Country fared best.

On how many of these 20 indicators are Canadians now faring better than Australians?

1. economic growth
2. gross national income per person
3. unemployment rate
4. debt as a % of GDP
5. current account as a % of GDP
6. balance of trade now
7. balance of trade recent history
8. international credit rating
9. tax rates
10. interest rates
11. productivity
12. household savings
13. retail sales growth rate
14. superannuation
15. economic freedom
16. government 10 year bond rate
17. value of the local currency relative to other currencies
18. foreign exchange reserves
19. home ownership
20. overall quality of life

(a) Only half - 10 of the 20
(b) A quarter – only five
(c) One
(d) None

7. Which prestigious international news journal has this week lauded the latest data on Australia’s remarkable economic growth?

The article highlighted the impressive GDP figures, the recent lift in exports, record income per person and this week's stock market surge:

(a) The Wall Street Journal
(b) La Tribune
(c) Der Spiegel
(d) The Washington Post
(e) The Huffington Post
(f) Reuters International
(g) Bloomberg.com
(h) all of the above

Cheers, AA

Alan Austin,
My CEO would be very impressed with your data but then again he is one of those who have diplomas from you know where to breakfast & he is running the show into the ground but he insists things are better than ever.
You mention Barry Jones, how well were things when he was a minister ? Not very good at all eh ? Why keep bringing up failures as reference anyhow ?
It's no good using collective figures because they don't show the inconvenient truths of how hard many people are doing it in the lucky country.
just look at those mining boom Towns at present. There's more money than you can poke a stick at whilst the local community is breaking up due to zilch economy.
Is that so great ?

Hi again Individual,

Yes, things were grim when Barry Jones became a minister in the Hawke Government. I remember.

Australia is vastly different now – improved overwhelmingly. Pretty sure history will credit that particular government for most of the reforms. We shall see.

Re “It's no good using collective figures because they don't show the inconvenient truths of how hard many people are doing it in the lucky country.”

Hmmm. Yes and no, Indi. Figures do show the numbers of people unemployed, who have stopped looking for work, are in poverty and on benefits. Those we can quantify fairly accurately. And we can quantify the actual dollars pensioners, the unemployed and the working poor must survive on.

But that does not show the actual human misery many people endure. True.

The article, above, seeks to show that in comparative terms not all governments have been the same in managing the economy and looking after the poor.

All the objective evidence suggests that periods of Coalition government have been times of higher taxes, lower income, lower rates of income growth, higher unemployment, more poverty, less business freedom and so on.

The fact this is not widely known in Australia isn't difficult to explain.

So have a shot at this question, Indi:

8. This follows #7 regarding international journals praising Australia’s remarkable economy this week.

The story is that Australia – alone in the world – has registered quarterly GDP growth at above .5 per cent for seven consecutive quarters. Annual growth for 21 consecutive years.

The latest number was .6 for the December 2012 quarter. Almost as good as the .7 for the September quarter. Same as the .6 for the June quarter. All exceeded predictions and were way ahead of comparable nations.

Which of the following headlines was written by a Murdoch editor in Australia:

(a) Australia Expands at Fastest Pace Since 2007 on Exports
(b) Australian Quarterly G.D.P. Beats Expectations
(c) Australia Has Now Gone 21 Years Without A Recession
(d) Economic growth slows in December quarter
(f) Australian Dollar up on Strength in Shares, Solid 4Q GDP

Alan Austin,
I don't have the access to the files which hold the real information. All I can go by what I witness around me everyday. It appears to me that a large percentage of the GDP is not in fact produced on australian soil with the revenue going to australian workers. Instead, much of it actually goes to Asian seat shops. Whenever I walk through a Mall in cairns all I see is made in China etc. on all the souvenirs, hardly ever do I see made in Australia. Yes, some of the GDP figures look good on the financial report forms but it might be of interest to compare these great figures with the figures of our pensioners & many essential services. Just because young Master Packer is doing well does not translate into Mr & Mrs Average doing well. I think a lot of these reports are published by the mismanagers as a smoke screen to hide inconvenient facts.

Alan Austin,

Good luck to you; your articles get a lot of reads.

However, for a guy so smug with your attitude in response to people's comments, and your selective use of data with little regard to what is really happening in Australia, you don't really know that much. At least, that is my opinion.

I wont even have a quick gig of your articles again; almost a complete waste of time as your bias is never a good approach to public policy inquiry

Alan, don't waste your time trying to convert Hasbeen, Individual and the other blind misinformed Liberalites. They will NEVER let facts get in the way of a good story. Unfortunately, this Forum seems to be held to ransom by such views based on misinformation .. I wonder if any of them have ever been outside Australia. I have travelled all over the world on numerous occasions, visited and lived in many countries and I am convinced that Australia IS (absolutely) the best country in the world! Our economy is one of the most buoyant in the western world and our quality of life is consistently in the top three. The "Doom and Gloom" legacy of the divisive Howard years still throbs in the hearts of the Liberal Haters - their MO remains: if you can't get votes through achievement, attain them through fear and derision. Howard left a devastating legacy and, without a doubt, to most socially minded people was the absolute WORST PM we have ever had. The funds he poured into a criminal war in Iraq that cost so many lives have never been measured. Abbott is a disgrace who can't even take himself seriously ... the fact that this clown could be leading our country into oblivion at the next election. OMG, I weep for the future!

What is it they say about birds of a feather?

Obviously it works with fools, & socialists, tending communistic.

Katie08 "abbott is a disgrace who can't even take himself seriously ... the fact that this clown could be leading our country into oblivion at the next election. OMG, I weep for the future!"

Katie, you are a breathe of fresh air on this forum!

I too despair for Australia under the leadership of Abbott, and fear greatly for our future, regardless of who the treasurer will be.

He will be embarrassing representing our country overseas, with his bumbling way of conversing.

If he doesn't like a question when overseas and on international television, will he be struck dumb and stare at the journalist in fury for some minutes, like he has here in the past?

I shudder to think...

Good morning all,

@ Individual, Re: “All I can go by is what I witness around me.”

Can you see the difficulty in logic with this, Indi? Someone on a pension in a crowded Sydney suburb is going to witness around them a whole different world from a member of the Melbourne Club or a hippy in Nimbin or a mine worker in the Pilbara.

Which is the real Australia? Citizens rolling in money celebrating the high Aussie dollar with imported caviar and Bolinger – or imported bongs and LSD – or those struggling to survive until pension day?

Governments, public servants and analysts need accurate information about what is happening in the nation overall – as well as in the various sub cultures. They need this to evaluate which economic strategies work effectively and which ones don’t – to achieve the best outcomes for all citizens.

Fortunately this is available. We just need to know where to look.

Re: “I don't have the access to the files which hold the real information.”

Yes we do, Indi. If we have a computer.

The answer to Question 6, above, is (d) none.

Canada is equal with Australia on 2 or 3 of those 20 criteria, but not ahead on any of them. Australia clearly has the best economy in the world. By a very long street. And you have a much stronger economy than at any time in the past.

Here are the connections for you, Indi:

1, 2, 3, 4, 5, 6, 7, 10, 11, 12, 13, 16, 18, all here:
www.tradingeconomics.com

8 here:
http://en.wikipedia.org/wiki/List_of_countries_by_credit_rating

9 here:
https://www.cia.gov/library/publications/the-world-factbook/geos/ca.html

14 here:
http://www.mercer.com/referencecontent.htm?idContent=1359350

15 here:
http://www.heritage.org/index/ranking

17 here:
www.xe.com

19 here:
http://www.nationmaster.com/graph/peo_hom_own-people-home-ownership

20 here:
http://en.wikipedia.org/wiki/Quality-of-life_Index

And here is Barry Jones's piece:

http://www.theage.com.au/opinion/politics/stupidity-is-on-the-rise-in-our-age-of-enlightenment-20120808-23uiq.html

@ Katie08: No, I’m not seeking to convert anyone here. Just endeavouring to point folks in the direction of data which the powers and principalities in Australia seek to suppress.

Readers can then choose whether or not to access that info.

Response to the input varies widely depending on the outlet. That’s okay. In fact it’s very good.

Cheers, AA

Don't worry, Suseonline and other thinking people, a week is a very long time in politics and there is SIX MONTHS to the next election. This, trust me, is AMPLE time for the Mad Monk to put his Size 12 clodhopper into his mouth and I wish I had serious money on the chances of that happening in the near future! With Cardinal Pell as his Chief Advisor, things can only get worse. Yes, that's Cardinal Pell, the same Cardinal who supported the horrific Gerald Ridsdale who was charged and jailed for the molestation of countless young children. Abbott is in good company! Makes the atheist, Julia Gillard, look almost holy by comparison.

Which is the real Australia? Melbourne Club or a hippy in Nimbin or a mine worker in the Pilbara.
Alan Austin et al,
It's the one that has wealth which is taken from many who put in an effort & then get no reward. I know because by sheer coincidence we have all of the above where I live.
Just to ask this question smacks of typical leftist contempt. Stuff you Jack I'm alright sort of mentality.

Yes we do, Indi. If we have a computer.
Have you ever tried to get information via the freedom of information act ? $15 search fee for 15 minutes & so on until hours later when you're told the info can't be found after you've spent $100,- ?
Ah, I see you're referring to information collated by those with an interest in staying on the bandwagon. Nah, I meant real factual information, that's not available from Government run outfits.

Here are the connections for you, Indi:
These are just stories they want us to believe, I'm interested in real facts.
Like how many australian jobs have gone to asian sweat shops because of ever increasing Union demands. Or, why aren't ordinary Australians afforded any protection from Government sanctioned Superannuation outfits ? Or, how much do public servants have to contribute for their Super in comparison with the ordinary wage earner ?

to achieve the best outcomes for all citizens.
yet another piece of bull dust to make us feel better whilst screwing us even more.
Alan with all due respect but there's more to running a country than making the balance sheets add up by the stealing & lying by bureaucrats.

Keep going Katie, you'll soon be doing the usual left trick of saying Abbott must endorse paedophilia just like the climate sceptics as Williams stated.

We've heard a lot about misogyny from the dank minds of the left but no mention of the real and palpable mysandry of the left against the likes of Abbott while conveniently overlooking the atrocious behaviour of the Slippers, Thomsons and Mathiesons of the world.

Whatever it takes eh Katie? As for your garbage of 6 months for Gillard's crew to redeem themselves, after the trouble this corrupt government has produced for itself up to date, another 6 months hopefully should see some arrest warrants.

As for Alan and his ongoing delusion about this government's economic competence a few of these questions are more to the point:

http://theclimatescepticsparty.blogspot.com.au/2013/03/old-king-cole-worlds-greatest-treasurer.html

Cohenite, Ooops - watch out! Your ignorance is showing. Your comment is not really worthy of recognition because you refuse to look at the bigger picture. If you are a blue collar, working class person, don't come screaming and whining when the Mad Monk hikes up the GST to 15% and introduces workplace agreements. Even other conservatives (eg Fraser and Hewson) have stated that Abbott is a pathological liar who would say and do ANYTHING to gain power. But, of course you don't believe that, do you pet? Like the devious pretentious chameleon he is, Abbott will soon change back into his true colours once he lies his way into power. It will be a sad, sad day when the three stooges (ie Abbott, Bishop and Hockey) get into power ... what a laughing stock this country will be when these three get on the world stage. Ugh! I am cringeing just thinking about it. Abbott's homophobic comments against gays have already been broadcast around the world ... he is ALREADY known to be a fool but it will take the gullible "True Believers" like yourself to raise this idiot to the throne. Be careful what you wish for!

Hi again Individual,

Re: "I meant real factual information, that's not available from Government run outfits."

Yes. That is precisely my point. Of the links to the 20 criteria, above, showing the exact state of Australia's extraordinary economy, all bar one are from independent non-government organisations.

Only number 9. [tax rates] was linked to the CIA World Factbook for international comparisons. But we can certainly find confirmation of that on independent sites also.

Re: "How many australian jobs have gone to asian sweat shops because of ever increasing Union demands."

Extensive data on jobs in Australia is on the Australian Bureau of Statistics site, Indi, at Catalogue number 6: Labour Statistics and Prices.

Re: "Why aren't ordinary Australians afforded any protection from Government sanctioned Superannuation outfits?"

Off topic. But if you clarify what your concerns are here, I'm happy to explore this.

Re: "How much do public servants have to contribute for their Super in comparison with the ordinary wage earner?"

That's all open information, Indi. Available from the Tax Office. Or if you prefer non-government sources, from independent groups like http://www.superguide.com.au.

Please take the time to verify the assertions made here about Australia's economy overall, Indi. It will almost certainly cheer you up.

Remaining in the dark and being so gloomy, negative and defeatist is a choice. The better informed we are the happier we will all be. I promise.

Hi again Cohenite,

Is that a challenge? Hmmm. Okay.

Eight questions have been posted here arising from the original article and subsequent discussion.

The answer to number 6 has been provided already: (d) none.

Would you like to have a shot at the other seven, Anthony? Fairly simple. All multiple choice. One answer offered is correct.

And links with all the evidence to verify the answers are readily available.

Then I will be more than happy to respond to any question in this general topic which you would like to post here.

Thanks. Cheers, AA

all bar one are from independent non-government organisations.
Alan Austin,
That's what's of so much interest to me. Who pays them for that collation ? Philanthropists ?
Or are they doing it for free for the good of the country ? Somehow I can't envisage any academic doing something for others let alone for free.

That's all open information, Indi. Available from the Tax Office.
It doesn't offer any information on misuse & corruption. We have had 12 million Dollars for a new airport evaporate & the tax Office has no data on that. They only let us see some idealistic guidelines not the real figures of how much many public servants are fleecing. It's like putting 8 hours/day on the time sheet but take away the non-active i.e. idle hours & you'll get a lot less but still the taxpayers fork out for 8. Extremely simple example yes but it rings so true it's deafening.
Our so-called experts are only experts in self preservation, running the show is not done by them only the interference. Then they put up some graphs & bingo, we should all be cheerful.

I agree with Individual

'Alan with all due respect but there's more to running a country than making the balance sheets add up by the stealing & lying by bureaucrats'.

However, i wish you would lay off all academics. I am one, and i have spent many, many hours writing pieces for this site in my own time.
In fact, i hope to soon cut my work hours to get back to writing for OLO.

Also, of course wages are too high in this country. The balance should be shifted, but other policies need to be introduced to offset the adjusmtment.

As for academic wages, i already do a lot for the money i am paid as casual, and i would work full-time for a lot less than the going rate if i could get a chance.

Hi again Indi and Chris,

Re “Who pays them for that collation? Philanthropists?”

Most of those organisations are paid for by the users of the information they provide. Clients include businesses and governments. Which means if they ever start selling dodgy data, they will soon go out of business. Which means we can pretty much rely on the accuracy of that information.

Re: “there's more to running a country than making the balance sheets add up.”

Yes. That’s most certainly true. How does that observation relate to the article or the subsequent discussion? Just not sure what you are suggesting here.

Re: “by the stealing & lying by bureaucrats”.

Again, not sure what you mean. Which bureaucrats have lied? Which bureaucrats have stolen what?

Re: “However, i wish you would lay off all academics.”

Once again, what do you mean? Was there a reference to academia somewhere which is offensive or wrong?

Re: “Also, of course wages are too high in this country.”

According to whom, Chris?

Do you agree with the answer to question 6, above, that Australia has the best economy in the world by a street? Do you agree that Australia alone among the wealthy developed nations avoided a recession in 2008/09 and rocketted to the top of the world’s economies?

Doesn’t that suggest pretty strongly that the macro settings your Government has opted for – fiscal policy, monetary policy and industrial policy – including wage levels – could be appropriate?

Which countries would you say have better wage levels than Australia’s, Chris? Is there any evidence that those nations have better outcomes in terms of jobs, deficit, productivity, growth, debt, wealth and poverty?

Or have better outcomes in other areas not related to making the balance sheets add up?

Do you agree with Heritage International’s assessment of Australia? Or do you agree with Joe Hockey?

And finally, Chris, how did you go on the other seven questions, above?

Cheers, AA

Mr Austin, hi again.

Dont bother with questions for me.

I find you an embarassment for the left. I will leave it at that.

businesses and governments. Which means if they ever start selling dodgy data, they will soon go out of business.
Alan Austin,
How is it then that Government appointed private firms can be mismanaging to the point of projects collapsing with dozens of people losing jobs yet the same consultancy firm is getting 5 year contracts time after time without any questions being answered or asked.
Your above claim is not valid.

Which bureaucrats have lied? Which bureaucrats have stolen what?
Can we name people on OLO without persecution ?

“However, i wish you would lay off all academics.”
He referred to me . If he can get academics to stop making our lives a misery than I'll lay off them. Let's face it, there's no Government policy that doesn't have an academic input therefore all good/bad decicions which impact on our daily life are of their making.
Please don't confuse intelligent & practical scientists with everyday BA carrying half-wits. My gripes is with the latter.

Ok, but could you clarify please Individual. Are all BA graduates neither intelligent or practical?

And what about MAs, Tony Abbott has one.

Thanks, Indi,

I empathise with much of what you seem to be saying here, and in earlier posts on OLO. We may not be that far apart.

Perhaps our apparent differences arise from my uncertainty as to what you really want from a federal government.

Could you indicate whether any of these are important, Indi? And then add any other criteria important to you not on this list:

1. adequate wages
2. equitable distribution of wealth
3. adequate pension levels
4. reasonable personal taxation rate
5. reasonable company taxation rate
6. reasonable GST rate
7. economic growth
8. low unemployment rate
9. low youth unemployment
10. high employment participation
11. high level of women in the workforce
12. women in senior management positions
13. adequate heath care
14. ratio of doctors per 100,000 population
15. ratio of nurses per 100,000 population
16. low debt as a % of GDP
17. balance of trade
18. international credit rating
19. low interest rates
20. low inflation rates
21. low rate of bankruptcies
22. strong productivity
23. strong household savings
24. retail sales growth rate
25. adequate superannuation
26. high level of economic freedom
27. utilities held in public rather than private ownership
28. sound government 10 year bond rate
29. strong value of the currency relative to others
30. strong foreign exchange reserves
31. high level of home ownership
32. overall quality of life
33. ministerial integrity
34. ministers not breaking promises they should be able to keep
35. ministers not telling blatant lies
36. secure borders
37. treatment of asylum seekers
38. fair go for Indigenous people
39. adequate primary education
40. adequate secondary education
41. adequate tertiary education
42. ending wasteful government spending
43. ending money lost overseas gambling on foreign exchange markets
44. ending sell-off of valuable state-owned assets for a pittance
45. slowing the rate of pollution

There’s 45. Pick 5, 10, 15, 20 or more - however many you want - and we can then see which party in Australia has the better record of delivery in the areas important to you.

Okay?

Thanks, Indi.

Cheers, AA

AA,

Are you really as arrogant in real life as you with your cock sure confidence about knowing eveything?

Are you Labor's cheer squad leader? You certainly are not much more than that.

You have a go at Aust's media, but you ought to look at yourelf before making judgements about bias

Alan,

The problem is that if you "Pick 5, 10, 15, 20 or more we can then see which party in Australia has the better record of delivery in the areas important to you" and the answer is overwhelmingly not Labor.

The US economy is now starting to take off on the back of the low dollar, low energy costs, and a flexible job market. Australia with a high dollar soaring energy costs and a increasingly rigid job market is beginning to see falling productivity, increasing unemployment and falling profits leading to falling tax revenues.

The answer is to wind back the carbon tax, some of the more archaic labor laws w.r.t. individual contracts and dismisal to boost productivity, profitablity and tax revenue, and take the axe to Labor's bloated civil service.

Hi SM,

Thanks for this.

Re: “The US economy is now starting to take off …”

Not really, SM.

Latest growth figures from the US Bureau of Economic Analysis are extremely disappointing. GDP only expanded 0.10% in the 2012 fourth quarter.

That’s way below previous figures and lower than most other countries. Australia grew six times that rate.

Charts here: http://www.tradingeconomics.com/united-states/gdp-growth

Re: “on the back of the low dollar, low energy costs, and a flexible job market.”

Yes, the US has a low dollar, low energy costs and good labour freedom. But these are not helping, are they? Other factors are operating much more powerfully.

Analysis here: http://www.heritage.org/index/ranking

Re: “Australia with a high dollar, soaring energy costs and a increasingly rigid job market …”

No, not really. The high dollar is good for the majority. Refer question 5, above.

No, energy costs are not soaring. Some have increased, but you still have cheap petrol by world standards. The job market remains almost freest in the world, despite marginal tightening last year.

Re: “is beginning to see falling productivity, increasing unemployment and falling profits leading to falling tax revenues.”

Nonsense, SM.

Go to the Productivity chart here: http://www.tradingeconomics.com/australia/productivity

It should open to show 2002 to 2013. You will see a surge in productivity in Australia over the last six quarters – to an all-time high of 164.82. That surge is not seen widely elsewhere. The US has been flat, Germany and France have been in decline.

Then expand the timeline to 1996 – 2013. You will see productivity is much higher now than at any time during the Howard years.

Now go to the Unemployment chart: http://www.tradingeconomics.com/australia/unemployment-rate

Unemployment peaked at 5.8 in 2009 and 2010, during the GFC.

The rate has since fallen to between 5.1 and 5.4 where it has oscillated for the last 19 months.

Yes, tax revenues fell in late 2012 as profits fell. But with the surge in exports in the 2012 last quarter - strongest in the world - this should be rectified rapidly.

Re: “bloated civil service”, how do you measure this, SM?

Cheers, AA

I used to be a bit proud that, as a former factory hand and labourer, I got published in a variety of forums: Quadrant magazine, academia, the odd newsppaper, and OLO.

That was until read Alan Austin and realised it was not that hard.

I dont know why anyone would ever question him; he is beyond approach and knows everything.

Could you indicate whether any of these are important, Indi? And then add any other criteria important to you not on this list:
Alan Austin,
1 to 45 are important. None are in actual fact addressed by the federal Australian Labor Governments or do not get close enough attention..
Just ask around, ask the people on the receiving end. If you really want to ask relevant questions then you must ask them. A list of obvious issues is not a list at all, as it goes without saying therefore requires no answers.
You should ask which of the points on your list are getting competent attention & are resolved. It's like saying that all the pay rates for public servants are freely available. Try & ask how much they actually cost us.

Hi again Individual,

Thanks for this.

Re: “1 to 45 are important.”

Yes. Knew we would agree there.

Re: “None are in actual fact addressed by the federal Australian Labor Governments or do not get close enough attention.”

Yes and no, Indi. All are impacted by federal governments. We may certainly question whether governments have done enough or not enough or too much in any area.

Re: “Just ask around, ask the people on the receiving end ...”

Correct, Indi. We certainly should. But who should we ask? What receiving end?

The point of this article was to illustrate the two points about Australia that are glaringly obvious from abroad:

1. you have the best economic management of any country in the world by the length of the longest straight.

Canada and Switzerland jostle for 2nd and 3rd. Australia is at the finish line before either has rounded the first bend. Refer question 6, above.

2. you have by far the worst media in the free world – also by a mile.

On all 45 of those criteria, Indi, abundant information is available. But you will only find distortions of it in your mainstream media. Or complete omissions where that suits the narrative the media have decided upon. Or blatant fabrications.

If you can turn off the radio and stop reading newspapers you will soon find valid information. And a narrative that accords with reality.

Pretty sure that will cheer you up, Indi. Your life is not as bleak as it might have been had you been managed by anybody else in the world, or anybody else in Australia’s past.

Cheers, AA

AA,

Cherry picking? the growth in the 4th quarter of last year was an anomaly for various reasons. The growth in 2012 in the US for 2012 was more than double that of Australia and is forecast to rise. Australia's growth in 2013 is forecast to drop further.

Unemployment has been slowly ticking up over the last year, with the only mitigating factor being the dropping participation rate. The US unemployment rate while still higher is dropping continuously.

As far as Labor rigidity, this is from the world bank report:

"The main area of concern for Australia is the rigidity of its labor market (42nd). Indeed, the business community cites the labor regulations as being the most problematic factor for doing business, ahead of red tape."

While productivity has grown, it is comparatively far slower than the rest of the world. While productivity grew steadily under Howard it was stagnant for most of the Labor government.

http://www.theaustralian.com.au/national-affairs/treasury/productivity-gap-holding-back-growth-as-survey-ranks-australia-second-last/story-fn59nsif-1226439881599

Overall Comparatively the outlook for the US is for improvement, whilst for Australia it is not.

Hi again SM,

Thanks for this further input.

Pretty sure that article in The Australian was written last August based on data from the first half of the year.

Also, the World Bank report uses data from early in 2012. No?

The comments in the article here and subsequent discussion are based on the quite extraordinary figures for the fourth quarter of 2012 for Australia. And on the relatively poor performance over the same quarter for much of the rest of ther world, including the USA.

No-one predicted the world to go backwards as appears to have happened. And it seems few predicted Australia's extraordinary surge would continue.

Perhaps we should wait for the next World Bank report based on more recent information.

Cheers, SM.

AA

OECDE productivity data

http://stats.oecd.org/Index.aspx?DatasetCode=PDYGTH

Alan Austin,
you appear to have good access to reports. Can you get figures on the monies spent on Government funded projects administered by Government appointed private companies financial control consultants ? Of particular interest to me are projects which have gone way over budget & those which are on hold because of mismanagement & need to be let to new contractors.
How many people have lost their jobs because of the incompetent bureaucrats mishandling it all.

The thing that makes me laugh is that AA, supposedly representing the left and social justice, would even refer to a meaningless statistic that Aust ranked third in openess behind Singapore and Hong Kong.

Take a good look at some of Singapore's poicies, mr morality. and what about the many who live in cages in Hong Kong.

http://www.dailymail.co.uk/news/article-2084971/Hong-Kongs-cage-homes-Tens-thousands-living-6ft-2ft-rabbit-hutches.html

Do churches really want to emply such people that are rather selective with their data and dont have a clue about is really happening in Australia.

Just the other day, Wodonga Council became one of first councils to remove itself from public care for the aged, leaving it all to the private sector. Maybe AA could write about that rather than being a cheer leader

Greetings again.

@Individual: Re “figures on monies spent on Government funded projects administered by Government appointed private companies financial control consultants … projects which have gone way over budget & those on hold because of mismanagement …”

This may be available, Indi. Following our discussion on productivity and labour costs, what hourly rates are you paying?

On the general theme of government waste and mismanagement, yes, plenty of information on that for free.

The International Monetary Fund produced a paper in January titled “A Modern History of Fiscal Prudence and Profligacy”.

You don’t have to take my word for it, Indi, because according to Peter Martin, “Australia's most needlessly wasteful spending took place under the John Howard-led Coalition government rather than under the Whitlam, Rudd or Gillard Labor governments”.

The IMF examined 200 years of government financial records in 55 countries.

“It identifies only two periods of Australian "fiscal profligacy" in recent years, both during John Howard's term in office - in 2003 at the start of the mining boom and during his final years in office between 2005 and 2007,” Martin says.

More here: http://www.smh.com.au/opinion/political-news/hey-big-spender-howard-the-king-of-the-loose-purse-strings-20130110-2cj32.html#ixzz2NNTGaaYu

That is consistent with the question posed here earlier, Indi:

4. There have been two extraordinarily costly blunders by treasurers in Australia’s history. Both well-kept secrets. One was $4.5 billion in Australia’s reserves lost gambling on foreign exchange markets.

The second, selling most of Australia’s gold reserves at near rock bottom prices just before spectacular price rises – giving more billions to speculators overseas.

That hapless treasurer was ..?

And, of course, the answer is (c) Peter Costello.

@Chris: That OECD productivity chart is not really helpful. Only goes up to 2011. The productivity surge following the Gillard Government’s initiatives commenced with the June quarter 2011 and extended for 6 quarters to the September quarter of 2012.

Better chart here, Chris: http://www.tradingeconomics.com/australia/productivity

It is important we look for data in the right places.

Yes, I laugh also, Chris, when people accuse me of being of the left. Usually happens after I write about truth-telling, fact-checking, honesty, transparency and integrity. Hilarious!

Cheers, AA

AA,

I only quoted the world bank report on labor rigidity. The other figures came from various other sources, most dated the end of 2012.

With an annualised growth of about 0.7% for 2012 for Australia your comment: "Australia's extraordinary surge." is bollocks. The US comparative growth was 1.6% and predicted to reach 2% by mid 2013. While the US economy is not fabulous it is at least heading in the right direction. With the fall in commodity prices the Australian economy is in danger of contracting.

Anyone living and working in Australia would know that the non mining sector which employs > 90% is at best flat and in many cases going backwards.

The jump in productivity in 2012 correlates in with the closure of many less efficient businesses due to competition issues (from the high dollar and carbon tax) and the change in the new job market towards mostly casual jobs (exactly the opposite trend compared to when work choices was in force)

The reason that Juliar and her 40 theives are in so much trouble is precisely because Labor keeps telling us that everything is great, while the reality is very different.

Apologies,

The growth was not annualised. Aus growth in 2012 was 3.1% compared to 6.5% for the US.

P.S. the IMF report on fiscal profligacy was widely discredited as political BS. Especially since the government was running a surplus.

'Usually happens after I write about truth-telling, fact-checking, honesty, transparency and integrity'.

indeed you are hilarious. What a pompous tosser. I repeat, you are not a scholar, but a mere cheer leader for Labor.

There are obvious reasons why Aust is where it is, and why the US is in trouble in comparison. Your article hardly points out the factors.

Most Australians dont agree with you, why is that i wonder. Oh yes, it is the evil press. If only they listended to AA, public policy and political commentary superhero.

what hourly rates are you paying?
Alan Austin,
you mean how much taxpayers' money is used to pay those mismanaging bureaucrats, consultants, engineers etc who through some inexplicable reason have been chosen to run these projects ?
Well, a CEO on 300 grand plus expenses, several EO's on 180 grand Plus expenses, then their wives on 70 -90 grand plus expenses, workers on 40-65 grand plus few expenses,local employees $40 grand, all for a community of 7000. No hands-on training whatsoever but several courses by some consultant training companies for one week every three or so years.
Then, management presents papers to some utterly ignorant bureaucrat in the South with a rose-coloured report to say all is well. Meanwhile the crap is clogging the proverbial fan.
It's all not available information.

Hi again Shadow Minister,

Yes, your revised GDP figures are correct. Thanks.

Yes, Australia’s “surge” of 0.6% GDP growth for Q4 is modest in absolute terms. But it was way ahead of the USA’s 0.1% and Canada’s 0.2%. Europe went backwards, with negative 0.3% here in France and in the UK. Germany and the Euro Area were negative 0.6. Yikes!

Australia also had a strong surge – okay, rise – in exports, productivity and industrial production – well ahead of the USA, Canada, Japan, the UK and the Euro Area.

Yes, SM, I agree the US economy is "heading in the right direction”. Certainly. Especially compared with Europe. But would you say expectations are now dampened somewhat after the Q4 declines in the growth rate, production, exports, productivity, etc?

Re: “Anyone living and working in Australia would know that the non mining sector … is at best flat and in many cases going backwards.”

Not sure, SM. Industrial production, retail sales, building approvals, meat production and others are going up. Ref. latest ABS figures.

Re: “Labor keeps telling us that everything is great, while the reality is very different.”

Hmmm. Not sure anyone is saying things are great. We are, after all, in the worst downturn since the Great Depression. But it’s clear Australia is travelling waaaay better than any other nation, and better than at any time in your history.

Re: “the IMF report on fiscal profligacy was widely discredited as political BS”

Really? By whom? Anyone independent?

Hi again Chris,

Regarding “the evil press” in Australia. You are probably right. But The Australian is sometimes handy. Whenever we read something there about economics or politics we can be almost certain the opposite is the reality.

For example, today Chris Kenny has a piece about media standards, the Daily Telegraph and the Greens. Several key statements there are clearly contradicted by Press Council rulings. So as expected, he writes the exact opposite of the truth.

But, of course, it’s always important to check. A ‘journalist’ there might make a mistake one day and accidentally write something accurate.

Cheers, AA

AA,

How can you expect to be taken seriously if you simply cherry pick one quater. There are reasons why this measurement differed from the others such as government defense spending was sharply reduced. That the rest of the economy continued to grow at the same pace shows that anyone taking only one statistical blip and extrapolating from it is a statistical dunce.

Australian exports have been tracking down since 2011, and the NON mining industrial production is more closely reflected in the capacity utilisation which is tracking down.

The only increases are in unemployment, government debt and government spending (brought by one of the world's most incompetent treasurers). Just look at how job vacancies are crashing to guess what is up ahead.

As for the IMF report, the disclaimer "Disclaimer: This Working Paper should not be reported as representing the views of the IMF." says it all. Working papers are notorius for pushing particular political agendas.

Hi again SM,

Re: “How can you expect to be taken seriously if you cherry pick one quarter.”

Excellent question! Actually this began with your claim a few posts back that “The US economy is now starting to take off on the back of the low dollar ...”

When you say “starting to take off” it's entirely reasonable to look at the last quarter. No?

When we did, it disproved your claim. Correct?

You then said “Australia with a high dollar, soaring energy costs and an increasingly rigid job market is beginning to see falling productivity, increasing unemployment and falling profits ...”

You said “beginning to”.

We then looked at the latest figures on those variables. And Voila! (as we say here) Assertions disproven again.

I absolutely insist on looking at all charts on all variables over whatever historic periods are available, SM. I find this endlessly fascinating. And educational. (The fact that the awareness gained peeves Chris and Cohenite is merely an incidental amusement.)

Re: “Australian exports have been tracking down since 2011”

Really, SM? Have you looked at the non-cherry-picked data?

Exports are still impressive, after a huge surge – gotta stop using that word – from April 2011 to January 2012. Would you agree, looking at the graph, that those 10 months were perhaps aberrant, SM?

Re: “The only increases are in unemployment, government debt and government spending”

Not at all, SM. Quite false.

Unemployment has oscillated within the narrow 4.9% – 5.5% band for the last 38 months. The trend is incredibly flat.

Government debt is at historic lows, as discussed earlier, both for Australia and relative to everywhere else.

And the only period in Australia’s history when government spending was “profligate” was during the previous Coalition regime - twice.

Re: “brought by one of the world's most incompetent treasurers”.

Hey! Just realised something, SM … You are Joe Hockey, aren’t you?!

Now it all makes sense! Why didn’t you say so in the first place, SM. I would have shown you how to find the graphs you need straight away!

Cheers for now, Joe.

AA

AA,

A single swallow does not a summer make.

Anyone with even a smidgeon of economics knows that statistics produce "outliers" from one off events, and that these need to be discounted. It took me about 30 seconds to investigate why the US GDP grew by 3.1% in the 3rd quarter and only 0.1% in the 4th.

Seizing on an statistical outlier to prove a point is the sign of ignorance or dishonesty. Simply reading more widely such as some financial periodicals would prevent such a blunder.

Then you put forward pure BS. The cost of electricity, and gas have sky rocketed, petrol (excluded from the carbon tax) is the only exception, but is one of the smallest component of energy consumption.

Productivity is measured in dollars worth of production per unit of labor, and would be expected to increase at the inflation rate even if productivity in real terms stayed flat, so looking far back historical is redundant. Again most of the gains came from the mining industry, and reduction in full time employment.

As far as unemployment goes, while there have been fluctuations, the trend is undeniably upwards.

The question is whether you have any economic qualifications whatsoever. If you have you hide them well

Hi again Shadow Minister,

So which is the outlier on the US GDP graph, do you reckon - the excellent 3.1% growth in the 3rd quarter or the miserable 0.1% in the 4th?

How can we tell?

More soon ...

Cheers, Joe.

Alan A

AA,

So which is the outlier on the US GDP graph, do you reckon - the excellent 3.1% or the 0.1%? To anyone with a smidgeon of statistics or economics the answer is easy:- Probably both!

This is why no one uses statistics without reading some of the background information. Your cut and paste economics is reminiscent of our esteemed Whine Swan who wouldn't doesn't know his Rs from his elbow.

Hi again SM,

Yes, agree about long-term charts and reading widely.

Re: “The cost of electricity, and gas have sky rocketed.”

Correct. But not everywhere at the same rate. Rises have been less in Victoria and WA than most of the rest of the world. SA and NSW are about average.

Australia as whole has had lower cost increases than the UK and Europe, though higher than Japan. The sudden downward curves in the consumption and cost in other countries as a result of carbon taxes is intriguing to observe.

Will this happen in Australia also? Probably.

Some useful charts here: http://www.rba.gov.au/foi/disclosure-log/pdf/101115.pdf

Re productivity: “most of the gains came from the mining industry, and reduction in full time employment.”

Probably correct, SM. But they are still productivity gains, aren’t they? So it’s not true to say “Australia with a high dollar soaring energy costs and a increasingly rigid job market is beginning to see falling productivity”, is it?

Re: “As far as unemployment goes, while there have been fluctuations, the trend is undeniably upwards.”

Not sure about this, SM. Which data are you analysing?

Consider this: http://www.tradingeconomics.com/australia/unemployment-rate

If we look at the entire period of the current ALP Government, the linear regression depends on when we start, doesn’t it?

If we start from March 2008, it is a steep upwards line; from mid 2009 it is a downwards line; from April or May 2010, it’s flat; from May 2012 it’s upwards; and from October 12 it’s flat.

So we can take our pick, I suppose. And that’s without identifying outliers due to floods and other one-off events.

But it remains true that unemployment has oscillated within the narrow 4.9% – 5.5% band for the last 38 months. No? So pretty much flat.

The matter of honesty, SM, is precisely what motivated this article in the first place, and other assignments here on economics and politics.

Would you agree Australians are poorly served by the media and some political parties in this regard?

Have a shot at this quiz, SM, arising in part from our discussion:

http://newmatilda.com/2013/03/15/could-you-be-treasurer-take-quiz

Cheers, AA