posted on Mar, 26 2013 @ 07:03 PM
reply to post by pheonix358
Oh this is just too good to let go. Talk about proof that there is a terrible sleeze and scare campaign going on by the LNP.
I just received this and had to share it with you.
As someone who has been an economist for more than 25 years, including almost 13 years with global banks, I’m sick of the misinformation campaign
being run by the Liberal Party and sections of the media about the Australian economy.
Let's have a debate on the economy, for sure, but let's make sure we stick to the facts.
This morning it continued with a beat up in the tabloid press misrepresenting Australia’s modest debt.
The fact is Australia’s net debt is dramatically lower than the net debt levels for every single major advanced economy.
Our current net debt is 10 per cent of GDP, compared to around 80 per cent for the USA and the UK, and around 35 per cent for Canada.
Labor made a choice to support local jobs during the GFC, a choice many countries around the world didn’t or couldn't make. And as you can see on
the graph below, they will be paying a very high price for many years.
Australia's debt is so low, it has the rolled gold triple-A rating. Interest rates are low and our economy is the envy of the industrialised
There is a graph that goes with it, but I don't know how to put it in here so, here is a link to it (hope it works and I hope others following this
thread take the time to have a look.):