Austin, i am not asking for your opinion. Cant you read. I consider you an absolute joke as a scholar and journalist. I also think many others do too. I will leave it there in order not to come as too crude.

I was asking other forum members

AA,

Unemployment in 2007 started at 4.5% and when labor took over was about 4.3%. This is compared to the unemployment under Labor today which is 5.6% trending upwards consistently.

The US hit a higher peak, and is now trending down at less than 8%.

As for economic freedom:

"Australia’s economic freedom score is 82.6, making its economy the 3rd freest in the 2013 Index. Its overall score is 0.5 point lower than last year, with score gains in freedom from corruption and business freedom offset by declines in labor freedom and the management of government spending. "

Which means the improvement is in spite of the negative influence of the government.

As for the credit rating, comments from S&P:

"Ratings agency Standard & Poor's that Australia will be at risk of losing its coveted AAA credit rating if the federal government does not demonstrate a stronger commitment to eliminating the budget deficit.

S&P has reportedly told both the government and the opposition that it understands the need for a current budget deficit, but warned that the AAA rating could be jeopardised within five years if the government does not demonstrate a concerted effort to restore the budget surplus and the national debt continues to climb."

The Howard government had a AAA rating, but the scarcity of government bonds (debt) made the rating difficult. This was no problem under Labor.

From a quick reading of Chris Lewis' well researched paper on the HIP scandal, one would have to be bloody-minded to disagree with its observation that it was a poorly planned and executed program.

The HIP would make an excellent case study for use in courses on policy formulation and project management. It will continue to serve as a prime example of the Rudd government's ineptitude.

Thanks Raycom.

AA refers to Rod Tiffen, yet he too said it was well researched, albiet it had a different position.

Hi Alan

In 2009 Australia’s goods exports rose in volume by 3.4%. They decreased by 14.2% across the euro area, 12% in the USA, 27.6% in Japan and 13.2% across all advanced economies. Exports are about 20% of Australia’s GDP, so if Australia had the same contraction in exports as other advanced economies, its GDP would have been 3 percentage points lower. Instead of growing by 1.4% in 2009, the economy would have contracted by about 1½ %

http://www.imf.org/external/pubs/ft/weo/2013/01/weodata/index.aspx

The OECD data you quote were “interim”, with a cut-off date for data of 24 March 2009. Later analysis by the ILO with more complete information puts Australia’s fiscal stimulus in the middle of the pack:

http://www.ilo.org/wcmsp5/groups/public/---dgreports/---inst/documents/publication/wcms_194175.pdf

You are wrong to say that Australia’s fiscal position prior to the crisis was unexceptional. In 2006 Australia’s general government gross debt was 10% of GDP, while the average for advanced economies was 77%. Its net debt was -6% of GDP, while the average for advanced economies was +48%. Its structural balance was +1.8% of GDP, while the average for advanced economies was -2.3%

(IMF data again)

The drop in iron ore prices in 2012 was temporary and small compared to the increase in prices over the past 10 years. Briefly prices dropped below US$100/t , but they are currently back at around $140/t. In 2003, the price was $13.8/t – less than 10% of today’s value:

http://www.indexmundi.com/commodities/?commodity=iron-ore&months=120

You would not expect that to have much effect at all; and if it did have an effect, it would take months to show up in the data (you don’t halt an iron ore expansion because of a 3-month blip in the data). Even so, there has been some effect on markets – BHP put its Port Hedland outer harbour project on hold, for example.

Our terms of trade and export prices reflect coal and energy as well as iron ore prices. All have been strong in recent years. Brazil exports less iron ore than we do and gets a lower price for it. Its terms of trade have not been as strong as ours:

http://www.tradingeconomics.com/brazil/terms-of-trade

Alan
your respobse to me shows you are deluded and have no respect for the truth.

It is in all our media in Australia that Tax revenue is rising. Even on you ABC. Even Swan explained it was the forecasts of revence which are not matching the actual tax revenues. He omitted to say the forecasts were his forecasts

And that Alan is quite different from claiming Tax revenues are dfalling.

But before you rant on about the accuracy of Swan's satement, just remember it was Swan who has stuffed up and was way over optimistic about expected revenves.The reason for that was he wished for a SURPLUS.

You really should read Australian newspapers inastead of your Labor briefing notes.

lol you are becoming a source of great mirth in my world.

You are thrashing about in desperation just as Gillard and Swan are.