"It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong." Richard P. Feynman
Thursday, May 10, 2012
Gillard's "scorched earth policy"
The release of the latest Gillard/Swan budget poses major problems for the Coalition which will oust this incompetent lot at the next election. A series of poison pills starting with the carbon tax and all the giveaways of the latest travesty of a financial budget will leave any future government burdened with these unfunded "gifts" from Labor. It is almost impossible electorally to roll back these changes . As the Aussie economy is currently a one-trick pony riding on the mining boom any change to the mining sector will be disastrous. With the combination of a looming downturn in China coupled with the discovery of huge Chinese coal deposits the future looks bleak for this country if the mining income starts to fall . Labor is currently wanting to increase the nation's credit card limit from 250 billion to 300 billion - a far cry from the billions in surplus it inherited. The effect of the Carbon Tax in killing the non-mining economy is yet to be seen as most of small business will be whacked without any compensation. Oakshot and Windsor, the conservatives who betrayed their conservative electorates to support this destruction of our economy will not be treated favorably by history.