How true, Belly.
But it seems that Yabby, Peter, et al, aren't the type who let facts spoil a good theory.
Personally, I think I'll stay with the facts and be happy about my country, instead of endlessly whining.
Anthony
http://www.observationpoint.com.au

<<Astonishing!
An unexpected 4.5% surge in the Australian economy>>

Yep, I couldn’t agree more.

We really need to recognize and reward the man responsible for the OZ’s economic miracle.

So, it’s out with (witless) Wayne:
http://tinyurl.com/7vdwb88

and it’s in with (wise) Wen:
http://tinyurl.com/6m5lo2u

PS: his finger salutes are no unconscious gestures--one is for OZ industry and the other is for Oz workers(Wayne concurs with the sentiment).

I suggest we all recap on Keating's "Beautiful set of numbers" and then "The recession we had to have" before we get too carried away.
These figures show how easily money comes in but wait for the inevitable draw-back.
Reflect on good old John Cain, what a great bloke. Cranes all over the Melbourne skyline and then the State of Victoria was found to be broke! It took years to pay all that off and many suffered.
Would not, could not, trust Labour with the keys to the safe again. Especially in the hands of an ex-lawyer!

Labor should be congratulated for briefly reaching the level of growth that was commonplace under the Howard government.

Ant's gratuitous thread forgets that no one here ever claimed that investment in mining would be stopped only discouraged. The % of world wide mining investment in Australia has dropped, but this has been swamped by the massive increase in investment world wide. Simply we have a smaller share of a much larger cake.

Unfortunately I have not seen a breakdown of where this 4.5% growth
occurred. 4% may have been in mining turnover and 0.5% for the rest.

Whatever the ratio, I suspect the rest will not look too smart.
Think about it, mining with no added value processing is highly
productive, and uses very little energy for each dollar value.

If the ratio mining vs the rest, could be applied the story may be different.
The problem is most of us live and work in the rest.

In case you have not noticed we are in the second energy price - economy crash cycle.
This cycling has long been forecast after the occurrence of peak oil.
If you look at it with this cycle in mind it all makes a lot of sense.

Just do not get carried away with your enthusiasm as we are staring
into an unknown chasm.

As usual Shadow Minister needs to be reminded of that annoying little thing... What is it, I'm thinking of? Oh, I remember - reality.
Howard was not managing the economy in the aftermath of the GFC and the European Crisis.
We can add him to the list of those referred to earlier - who are reluctant to let the facts spoil their pet theory, no matter how absurd their pet theory happens to be.
Anthony
http://www.observationpoint.com.au