I could not agree more, your association of the good ship Australia and the Titanic is most apt, the Titanic went down on the sheer belief that it was to big and grand to fail, equally Rudd and Swan have squandered our blazing surplus on purile public handout's in an ill conceived and short term stop gap measure and then decided to tax out of existence (the mining sector) the real engine room of the Australian economy that was helping all levels of the economy. Rudd and Swan too, fail to see that the mining boom can also falter on the same assumptions.
