With all the news about the recent financial crisis that's been bombarding our screens lately, i thought I'd chip in with my two cents worth on the whole situation. Even though i have the most limited understanding of how the economy (shares and "the dollar", banks and money in general) actually works, and that I've decided that money is stupid (ask for more details ask later) i thought of something even more ridiculous than the whole game of money in general. One of the great debate topics amongst politicians and political commentators appears to me to be how well a party is able to manage the economy. It was one of the strike zones the liberal party had against the labour party (and the only one i ever heard about) in the run up to the election late last year, with the claim by all liberals being that the labour party is incapable of keeping/creating/whatever-ring a stable economy. Now people nit pick about this and bring political history into it, but ultimately i think we need to be thankful for the fact that we have a stable government that doesn't change much whatever way the voting goes, and i believe that whatever party ends us running the country, we're in pretty safe hands economically (even with the labour party).
Let's think about it. Economic crisis hits (starting in America - interesting point isn't it? But i won't go into that now), everyone's (i.e. every nation's) economies fare badly. But Australias economy was pretty strong to start with (i heard stronger than Amercia's - i think) so we're actually not hit as badly, AND the management of our banks has been better. Something about an 80% cut-off and definately somethign to do with the more socialist way our country is run (i.e. gvernment owning/running of banks or the reserve bank or something) so that now, according to my dad - which is not the best source but you get the picture - the Australian and Swedish banking systems are the most stable in the face of this crisis.
So who cares which party runs the coutnry because they pretty much run it the same and either way i think we're lucky to be living in a country that has such good economic management - whether it be liberal or labour (and don't get confused byt he stupidity of the party's names).
2 weeks ago