A very significant but unmentioned contributor is the high Australian dollar when compared to the US dollar. This was celebrated by Swan and others when it cracked a dollar but there was no consideration of the impact on the export and tourisms segments of our economy.
To get out of this spot the dollar must drop but the people when then be hit with the real cost of oil which has been masked by the current higher internal purchasing power. Higher fuel costs will put more pressure on the economy and will lead inevitable to pmore job losses as small to medium enterprise close shop.
