We have had weeks of Wayne Swan prattling about his achievements because of a quarterly economic growth which was mostly brought about by the big miners who are the victims of Labor's class war. Thanks to people like Gina Rinehart and Clive Palmer GDP growth last month showed a healthy increase. However Swan, who has run up a billion dollars a week on the Aussie credit card over the last four years, has no claim to economic competence at all and favorably comparing Australia to Euro basket-cases does not let him off the hook. Starting from a debt-free position Australia now owes 200 billion dollars thanks to Labor incompetence and the debt clock is ticking. Swan's inept performance reminds of the Aussie joke at the expense of our trans-Tasman friends which says:
"Q: How do you get a Kiwi to run a small business ?......... A: Start him off with a large one!"
It is interesting to see where our government has landed one of the richest countries in the world in a global context. At 188 out of 198 countries this is a sobering look at Australia's performance.
If a tiny country like Singapore can achieve a Current Account Balance of 50 billion with virtually no natural resources and a population of only 5 million our comparative economic performance is woeful.
| RANK | COUNTRY | CURRENT ACCOUNT BALANCE | DATE |
| 1 | China | $280,600,000,000 | 2011 est. |
| 2 | Saudi Arabia | $151,400,000,000 | 2011 est. |
| 3 | Germany | $149,300,000,000 | 2011 est. |
| 4 | Japan | $122,800,000,000 | 2011 est. |
| 5 | Russia | $90,510,000,000 | 2011 est. |
| 6 | Switzerland | $76,700,000,000 | 2011 est. |
| 7 | Qatar | $76,370,000,000 | 2011 est. |
| 8 | Netherlands | $64,100,000,000 | 2011 est. |
| 9 | Norway | $63,500,000,000 | 2011 est. |
| 10 | Kuwait | $61,720,000,000 | 2011 est. |
| 11 | Singapore | $56,980,000,000 | 2011 est. |
| 12 | Iran | $42,000,000,000 | 2011 est. |
| 13 | Sweden | $41,600,000,000 | 2011 est. |
| 14 | Taiwan | $40,910,000,000 | 2011 est. |
| 15 | United Arab Emirates | $38,450,000,000 | 2011 est. |
| 16 | Malaysia | $32,990,000,000 | 2011 est. |
| 17 | Korea, South | $29,790,000,000 | 2011 est. |
| 18 | Venezuela | $27,200,000,000 | 2011 est. |
| 19 | Denmark | $22,100,000,000 | 2011 est. |
| 20 | Algeria | $18,120,000,000 | 2011 est. |
| 21 | Iraq | $17,370,000,000 | 2011 est. |
| 22 | Hong Kong | $16,150,000,000 | 2011 est. |
| 23 | Kazakhstan | $13,600,000,000 | 2011 est. |
| 24 | Nigeria | $12,010,000,000 | 2011 est. |
| 25 | Austria | $12,000,000,000 | 2011 est. |
| 26 | Thailand | $11,900,000,000 | 2011 est. |
| 27 | Luxembourg | $11,600,000,000 | 2011 est. |
| 28 | Azerbaijan | $11,120,000,000 | 2011 est. |
| 29 | Angola | $7,755,000,000 | 2011 est. |
| 30 | Uzbekistan | $7,223,000,000 | 2011 est. |
| 31 | Philippines | $7,044,000,000 | 2011 est. |
| 32 | Macau | $6,238,000,000 | 2009 est. |
| 33 | Oman | $6,233,000,000 | 2011 est. |
| 34 | Trinidad and Tobago | $5,803,000,000 | 2011 est. |
| 35 | Indonesia | $5,704,000,000 | 2011 est. |
| 36 | Belgium | $4,700,000,000 | 2011 est. |
| 37 | Brunei | $3,977,000,000 | 2009 est. |
| 38 | Congo, Republic of the | $3,885,000,000 | 2011 est. |
| 39 | Puerto Rico | $3,512,000,000 | 2010 est. |
| 40 | Gabon | $3,428,000,000 | 2011 est. |
| 41 | Timor-Leste | $2,375,000,000 | 2011 est. |
| 42 | Turkmenistan | $1,544,000,000 | 2011 est. |
| 43 | Hungary | $1,504,000,000 | 2011 est. |
| 44 | Ireland | $1,400,000,000 | 2011 est. |
| 45 | Bolivia | $1,293,000,000 | 2011 est. |
| 46 | Burma | $997,300,000 | 2011 est. |
| 47 | Israel | $866,700,000 | 2011 est. |
| 48 | Bermuda | $730,000,000 | 2011 est. |
| 49 | Bahrain | $617,400,000 | 2011 est. |
| 50 | Cote d'Ivoire | $543,700,000 | 2011 est. |
| 51 | Estonia | $390,100,000 | 2011 est. |
| 52 | Suriname | $389,500,000 | 2011 est. |
| 53 | British Virgin Islands | $362,600,000 | 2010 est. |
| 54 | Bulgaria | $283,300,000 | 2011 est. |
| 55 | Pakistan | $268,000,000 | 2011 est. |
| 56 | Namibia | $108,700,000 | 2011 est. |
| 57 | Aruba | $67,100,000 | 2011 est. |
| 58 | Cook Islands | $26,670,000 | 2005 |
| 59 | Palau | $15,090,000 | FY03/04 |
| 60 | Tuvalu | ($11,680,000) | 2003 |
| 61 | Montserrat | ($16,700,000) | 2011 est. |
| 62 | Kiribati | ($21,000,000) | 2007 est. |
| 63 | Tonga | ($23,000,000) | 2007 est. |
| 64 | Belize | ($25,300,000) | 2011 est. |
| 65 | Micronesia, Federated States of | ($34,300,000) | FY05 est. |
| 66 | Comoros | ($37,600,000) | 2011 est. |
| 67 | Zambia | ($42,700,000) | 2011 est. |
| 68 | Samoa | ($58,900,000) | 2010 est. |
| 69 | Vanuatu | ($60,000,000) | 2007 est. |
| 70 | Laos | ($76,700,000) | 2011 est. |
| 71 | Eritrea | ($77,500,000) | 2011 est. |
| 72 | Sao Tome and Principe | ($90,000,000) | 2011 est. |
| 73 | Djibouti | ($90,600,000) | 2011 est. |
| 74 | Guinea-Bissau | ($100,000,000) | 2011 est. |
| 75 | Anguilla | ($102,400,000) | 2011 est. |
| 76 | Dominica | ($120,100,000) | 2011 est. |
| 77 | Gambia, The | ($143,600,000) | 2011 est. |
| 78 | Saint Kitts and Nevis | ($154,400,000) | 2011 est. |
| 79 | Grenada | ($174,800,000) | 2009 est. |
| 80 | Bhutan | ($175,000,000) | 2011 est. |
| 81 | Saint Vincent and the Grenadines | ($207,700,000) | 2011 est. |
| 82 | Solomon Islands | ($207,900,000) | 2009 est. |
| 83 | Burundi | ($214,000,000) | 2011 est. |
| 84 | Central African Republic | ($233,200,000) | 2011 est. |
| 85 | Latvia | ($244,400,000) | 2011 est. |
| 86 | Saint Lucia | ($255,800,000) | 2011 est. |
| 87 | Argentina | ($264,100,000) | 2011 est. |
| 88 | Cape Verde | ($264,400,000) | 2011 est. |
| 89 | Guinea | ($271,600,000) | 2011 est. |
| 90 | Cuba | ($275,100,000) | 2011 est. |
| 91 | Mauritania | ($296,600,000) | 2011 est. |
| 92 | Guyana | ($297,200,000) | 2011 est. |
| 93 | Macedonia | ($300,000,000) | 2011 est. |
| 94 | Kyrgyzstan | ($318,500,000) | 2011 est. |
| 95 | Seychelles | ($322,000,000) | 2011 est. |
| 96 | Togo | ($328,000,000) | 2011 est. |
| 97 | Antigua and Barbuda | ($330,600,000) | 2011 est. |
| 98 | Malta | ($352,000,000) | 2011 est. |
| 99 | Bangladesh | ($372,000,000) | 2011 est. |
| 100 | Cayman Islands | ($384,500,000) | 2010 est. |
| 101 | Curacao | ($400,000,000) | 2011 est. |
| 102 | Lesotho | ($415,700,000) | 2011 est. |
| 103 | Barbados | ($417,800,000) | 2011 est. |
| 104 | Congo, Democratic Republic of the | ($419,000,000) | 2011 est. |
| 105 | Nepal | ($437,900,000) | 2010 est. |
| 106 | Swaziland | ($461,800,000) | 2011 est. |
| 107 | Maldives | ($463,000,000) | 2010 est. |
| 108 | Botswana | ($467,900,000) | 2011 est. |
| 109 | Fiji | ($507,000,000) | 2007 est. |
| 110 | Liberia | ($511,200,000) | 2011 est. |
| 111 | Benin | ($559,500,000) | 2011 est. |
| 112 | Sierra Leone | ($603,600,000) | 2011 est. |
| 113 | Tajikistan | ($660,800,000) | 2011 est. |
| 114 | Zimbabwe | ($675,600,000) | 2011 est. |
| 115 | Malawi | ($714,200,000) | 2011 est. |
| 116 | Slovenia | ($764,900,000) | 2011 est. |
| 117 | Mali | ($798,600,000) | 2011 est. |
| 118 | Moldova | ($829,000,000) | 2011 est. |
| 119 | Rwanda | ($847,500,000) | 2011 est. |
| 120 | Iceland | ($900,000,000) | 2011 est. |
| 121 | Mongolia | ($931,500,000) | 2010 est. |
| 122 | Equatorial Guinea | ($941,000,000) | 2011 est. |
| 123 | Paraguay | ($943,800,000) | 2011 est. |
| 124 | Uruguay | ($1,076,000,000) | 2011 est. |
| 125 | Mauritius | ($1,077,000,000) | 2011 est. |
| 126 | Cameroon | ($1,097,000,000) | 2011 est. |
| 127 | Chile | ($1,099,000,000) | 2011 est. |
| 128 | Burkina Faso | ($1,106,000,000) | 2011 est. |
| 129 | Bosnia and Herzegovina | ($1,135,000,000) | 2011 est. |
| 130 | Ecuador | ($1,135,000,000) | 2011 est. |
| 131 | Cambodia | ($1,143,000,000) | 2011 est. |
| 132 | Bahamas, The | ($1,146,000,000) | 2011 est. |
| 133 | Haiti | ($1,206,000,000) | 2011 est. |
| 134 | Lithuania | ($1,225,000,000) | 2011 est. |
| 135 | Honduras | ($1,248,000,000) | 2011 est. |
| 136 | Armenia | ($1,265,000,000) | 2011 est. |
| 137 | El Salvador | ($1,288,000,000) | 2011 est. |
| 138 | Niger | ($1,294,000,000) | 2011 est. |
| 139 | Jordan | ($1,316,000,000) | 2011 est. |
| 140 | Albania | ($1,380,000,000) | 2011 est. |
| 141 | Mozambique | ($1,385,000,000) | 2011 est. |
| 142 | Finland | ($1,394,000,000) | 2011 |
| 143 | Senegal | ($1,425,000,000) | 2011 est. |
| 144 | Ghana | ($1,438,000,000) | 2011 est. |
| 145 | Uganda | ($1,456,000,000) | 2011 est. |
| 146 | Ethiopia | ($1,656,000,000) | 2011 est. |
| 147 | Libya | ($1,839,000,000) | 2011 est. |
| 148 | Georgia | ($1,845,000,000) | 2011 est. |
| 149 | Montenegro | ($1,927,000,000) | 2011 est. |
| 150 | Costa Rica | ($1,969,000,000) | 2011 est. |
| 151 | Tanzania | ($2,071,000,000) | 2011 est. |
| 152 | Madagascar | ($2,242,000,000) | 2011 est. |
| 153 | Peru | ($2,267,000,000) | 2011 est. |
| 154 | Jamaica | ($2,367,000,000) | 2011 est. |
| 155 | Croatia | ($2,400,000,000) | 2011 est. |
| 156 | Papua New Guinea | ($2,420,000,000) | 2011 est. |
| 157 | Nicaragua | ($2,449,000,000) | 2011 est. |
| 158 | Syria | ($2,452,000,000) | 2011 est. |
| 159 | Afghanistan | ($2,475,000,000) | 2009 est. |
| 160 | Kenya | ($2,636,000,000) | 2011 est. |
| 161 | Guatemala | ($2,712,000,000) | 2011 est. |
| 162 | Cyprus | ($2,858,000,000) | 2011 est. |
| 163 | Kosovo | ($2,880,000,000) | 2011 est. |
| 164 | Slovakia | ($2,899,000,000) | 2011 est. |
| 165 | Chad | ($2,986,000,000) | 2011 est. |
| 166 | Yemen | ($3,120,000,000) | 2011 est. |
| 167 | Serbia | ($3,230,000,000) | 2011 est. |
| 168 | Panama | ($3,874,000,000) | 2011 est. |
| 169 | Sri Lanka | ($4,000,000,000) | 2011 est. |
| 170 | Tunisia | ($4,576,000,000) | 2011 est. |
| 171 | Vietnam | ($4,740,000,000) | 2011 est. |
| 172 | Belarus | ($5,000,000,000) | 2011 est. |
| 173 | Sudan | ($5,003,000,000) | 2011 est. |
| 174 | New Zealand | ($5,097,000,000) | 2011 est. |
| 175 | Ukraine | ($5,695,000,000) | 2011 est. |
| 176 | Dominican Republic | ($6,005,000,000) | 2011 est. |
| 177 | Czech Republic | ($6,290,000,000) | 2011 est. |
| 178 | Romania | ($6,350,000,000) | 2011 est. |
| 179 | Colombia | ($7,328,000,000) | 2011 est. |
| 180 | Morocco | ($8,041,000,000) | 2011 est. |
| 181 | Egypt | ($8,609,000,000) | 2011 est. |
| 182 | Mexico | ($11,270,000,000) | 2011 est. |
| 183 | Lebanon | ($11,780,000,000) | 2011 est. |
| 184 | South Africa | ($16,670,000,000) | 2011 est. |
| 185 | Portugal | ($20,400,000,000) | 2011 est. |
| 186 | Greece | ($28,400,000,000) | 2011 est. |
| 187 | Poland | ($29,960,000,000) | 2011 est. |
| 188 | Australia | ($30,700,000,000) | 2011 est. |
| 189 | European Union | ($32,720,000,000) | 2011 est. |
| 190 | Canada | ($52,600,000,000) | 2011 est. |
| 191 | Spain | ($60,900,000,000) | 2011 est. |
| 192 | India | ($62,960,000,000) | 2011 est. |
| 193 | Brazil | ($63,470,000,000) | 2011 est. |
| 194 | United Kingdom | ($66,600,000,000) | 2011 est. |
| 195 | Turkey | ($71,940,000,000) | 2011 est. |
| 196 | France | ($74,300,000,000) | 2011 est. |
| 197 | Italy | ($77,800,000,000) | 2011 est. |
| 198 | United States | ($599,900,000,000) | 2011 est. |
The only thing which would surprise me about this woeful 'government' would be if they did something in the national interest (which will never happen).
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