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?