Friday, November 05, 2004

Kenneth Davidson - My australian idol

Since 1996, the Coalition has been obsessed with balancing the budget and reducing public debt - which isn't the same as managing the economy. On the contrary. The fixation with finance has been at the expense of balanced development and sustainable growth. The Government has cut spending programs on education, training, research and development, and industry development set in place by the previous government and designed to deal with the external deficit.

Growth has been consumption-led. The banks have borrowed most of the funds to finance the deficit. The money has been used to engineer a housing bubble, to the great short-term profit of the banks.

Read the whole thing here

Cost of the War in Iraq
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