Our land has not been diversified enough to ensure that can withstand global downturns. Where we have gone wrong is to spend up big while we were earning possibly the largest ever incomes we will ever see in our lifetimes. But the problem lies within the self belief, the confidence of seeing large numbers in your pay packet each week - the confidence to go out and borrow excessively large in the belief the economy 'can only grow' and never retract. And the more people that exist who fell for that trap the worst our economy will react to another GFC. To top it off, our leaders have spent everything we had, and then had to borrow up more.
Will our economy survive? Will we continue to accept socialism at its very worst? Will we accept child producing women that never work, and their children being taught to play 'the system'.
We have the Dole. Life here before the Dole was introduced was tough - if you lost your job then your whole family went back with mum and dad to live. Today we all pay for that (which is great for when it's needed). But the clincher here is individuals have not learnt to survive without it. That is a shame. But it is one of the reasons why our economy is way too expensive to live in. Labour costs are too high because not everyone works. Of course minimum wages have been pushed up, making everything here a lot more vulnerable - it will be harder to keep your job, it will be harder to get a job, and we will loose jobs to overseas.
I used to look up to politicians, in that they were smarter than me. But I now believe that they are nothing more than glorified salesman, of the same calibre as those in the real estate industry. They have some of the best advisors in the world, yet they choose to ignore most of their advice in the name of votes.
We all blame Rudd. Abbott would probably be just as bad (almost). I blame democracy for the fact it is not regulated - where political spending is not capped, where short term gains are the order over the day.
Hopefully this will all blow over. But what if it's as bad as it appears to be?
