Interesting story...not sure of the final chapter as you surmise.
I've been here 30 years and think Oz is tops....
But a few things ARE conspiring...
1. So much of Oz's employment is in the government public service and this is essentially non-productive, a huge drain on our tax resources but in the end ...it is employment!
I shudder to think what the real u/e rate would be without the govt positions.
2. Oz will never compete with the Asians in the manufacturing game. Simple. We will not be able to come up with "the better pair of underwear" etc and still want our quality of life.
3. We should quickly look to adjust our long-term planning to make Oz a specialised country offering brain-driven as opposed to labour-driven products for the world markets.
4. The welfare mentality needs to to turned on its ear.
5. Political correctness needs to be seen for what it is...pandering to the "sqeakiest wheel" and a proper perspective re-established.
No one ever said it'd be easy...but at the moment I feel Oz is starting (maybe already started) a slide.
