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Old 17-11-2011, 03:51 PM
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gregbradley
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Join Date: Feb 2006
Location: Sydney
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It makes sense the Banking country would be number 1. I bet you they did all right out of the GFC. Perhaps even wanted it.

Its also interesting they do not use the Euro.

I see the point about the wealth not flowing around. I am sure those statistics are skewed by the mining sector boom.

Wages in mining areas are much higher than in other sectors.

Also, when it comes to managing the economy I believe that interest rate adjustments are always too late in coming. Then retail gets hit first. Not helped by the shift to an online economy. Then the construction industry, which some would argue probably never lifted back up after the GFC too much except for the Govt prop up from the Schools upgrades.

Comparing Australia to Norway is ludicrous as who wants to live with the Penguins? Of course Australia is better than Norway (no offence to Norwegians) as climate would make a massive difference in quality of life not to mention the fact we are a continent whilst they are tiny. In terms of money I suppose they must have a lot of gas or oil. Or perhaps they sell whale meat at really high prices to the Japanese.

Comparing Australia to Switzerland is closer but still they have a cold climate - reasonably good skiing and great scenery but a very small country and no food that is worth eating.

Greg.
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