Australia is now at around long term sustainable interest rates in the 5% range. Japan got down to around zero because of internal economic mismanagement and the USA got down to 1% because a stockmarket tech bubble burst. Conversely Australia got to 17% under a LaboUr government - also through economic mismanagement (Keatings "now you have it; now you don't; now you have it" negative gearing police).
LaboUr still needs a leader to bring it into the 21st century by ridding itself of the jealousy chip (log) it has on its shoulder, ridding itself of union control and turning itself into a social democratic party.
