World watcher,
Well the way I see it is that both parties are mumbling about having
policies that will promote growth.
What I cannot tell is whether they believe it or not.
The conventional way to promote growth is to push more money into the
economy. This is however a now redundant method which has been failing
everywhere. It just does not work anymore.
The alternative technique was austerity, but that now does not work.

We are now in an era that is totally new, at least since the early 18th
century. At that time the peoples standard of living was fairly steady
for centuries. It was not until steam power was developed and made
cheap by the ready supply of coal that the living standards started
to improve, in a patchwork way but ultimately widespread.
The addition of cheap oil to the mix started the growth patten we now
have come to accept as normal. This growth patten made credit a ready
tool to use to further push growth along.

This continued right up to the start of the 2000s when the warning
signs started to appear. These signs, high coal prices and high prices
for oil and flat lining oil production are telling us that growth is
slowing and coming to a grinding halt.
Some such as Europe are already in the bind, the US has printed money
to such an extent that they can never get enough growth to pay it off.

We are thanks only to mining incomes in a better position but what
happens when the music stops.

That is the job of our next government, do you think they are up to it ?

Turnbull is more of a liberal than Tony Abbott who would really fit in more with a Conservative Party. With the move of the ALP to the right there is really very little difference between the two major parties. Well not much that we can discern as Liberals haven't really given much up as regards policies.

Frankly both have drunk the free trade/globalisation Koolaid, both have spent too much time on middle class welfare in the hope of buying votes and petty politicking and knee jerk fear responses put a stop to some of the better policies like the mining super tax. Something that would have aided all Australians (sharing in the spoils) and still made the miners lots of money.

Turnbull would prove a strong opponent to the ALP, many of the ALP grass roots are dissilussioned with Labor and those who have not defected to the Greens might defect to a Turnbull led Coalition Government. I would still rather an ALP Government over the Coalition but that is not saying much. There are at least some hope within Labor.

The Coalition will always be a party for industry too far from the grass roots whereas Labor while much closer to industry than in the past, still considers the overall effects rather than pandering to one sector in their policy making. Better still just vote Greens.

Iron ore has come back to $140 / ton. The noalition mob have gone quiet, probably scouring the slime pits.
If we ever get some sort of policy from the opposition, which might be a hard ask. They have spent a full year being negative again, tracing the steps of the tea party.
Talking down the economy and scaremongering about the carbon tax. What a fizzer that was, not an ounce of credibility involved.
Abbott's inability to decipher written documents is irresponsible and unprofessional.
The whole opposition front bench are involved in tactics that not only show immature and divisive questions that they have completely forgotten the whole world is listening.
Gillard put Abbott straight on his downright filthy attach on the PM's father, and with some extra verse made headlines world wide, and very much appreciated by men and women of all races.
And this man is vying for the number one ticket holder in Australia.
Abbott and his mate CN, would wreck this nation in no time.
He can not bring himself to admit we are in a good position. as much of the world is in depression for four years now, and no signs of recovery.
No one is a future teller, but our status is solid and steady as she goes is a good plan.
Our unemployed is steady, along with incomes, hopefully we can remain in a strong position for 2013.

Bazz,

Australia has for the most part had it so good that many people gave scant regard to politics. As long as all was well in their lives they let the pollies 'do their thing' unchallenged.

As you say, we are now in an unprecented era as far as recent history goes, with much of the world in a state of financial flux. Our fortunes now rely too heavily on the mining industry and the well-being [or not] of the international currencies.

Now, more than we ever have done, we need wiser heads in government than we have at present. Labour has proved they are not fit to govern responsibly, and the unelected [by the people] head of this government is akin to a child attempting to play with the adults on the world stage.

First, despite all indicators that we need a change of government,we have to rely on the majority of voters agreeing when voting time arrives, and the public have notoriously short memoreies..

Second, a change of government is a crap shoot. Will they do better? It's anyone's guess, but surely they couldn't do worse?

I can only speak from experience, but for myself, business has always been good when Libs have been in office, and not so good when Labour has held sway. For me it is the party as a whole when I vote, and have to trust that they have chosen who they think is the best person to lead.

Our deficit accrued under Labour should offer enough persuasion to change even the hard left to consider voting differently this time around.

Bazz,

Do you think we should pay more attention to developing our resources other than mining? Is enough help given to those who are attempting to promote different industries?

What brought this to mind is how much fish and other seafood we import, a lot of which is farmed in Asia. Isn't it ludicrous that we are completely surrounded by this vast ocean, yet import much of this commodity? If farmed fish is the only way to keep prices at an affordable level, we sure have enough areas within our own country to make this a much larger scale operation.

How many good inventions do we ignore? I remember the orbital engine could not gain support from the then ruling Labour government, yet was welcomed with open arms in the U.S. These are just a couple of the many examples which exist. You can probably think of many more.

Developing fully our own alternatives to mining, and limiting foreign investment to a level where we always retain a majority interest would encourage innovation - if there was confidence that the government would support - not hinder this.

Whoops, gone off on a bit of a tangent here. Maybe my post would be more suitable on the My Country thread?

World watcher, my concern is that both parties will go ahead as though
it is business as usual. They do not seem to reading the signals and
are deliberately ignoring reports from their own departments.

If it goes on like this for another few years they will be totally
unprepared, and worse the public will be unable to accept that the
situation is permanent.

We could end up with what happens in such circumstances elsewhere with
a government of national unity. ie a government with all parties
represented. This is what happens when governments become overwhelmed
by circumstances beyond their control, such as a total financial
collapse with a collapse of the food production chain.

To avoid such situations requires planning and education of the public
but first the government has to act on the reports it receives from
its own and other sources.
Our governments are not on their own in their attitude, the US Dept
of Energy in 2005 received a report it commissioned from energy
consultants, known as the Hirsch report and promptly hid it away until
it was hacked out by high school kids.
It made similar findings, only more specific than the BITRA report
that our government hid away, but was found first by a French journalist.

It is the effort to hide these reports and to not examine the
situation that is the real problem.
After all surely that is why we pay them !