Sunday, June 05, 2005

What Happened Last Time

George Megalogenis, in The Weekend Australian, reminds us this weekend of what happened in the end last time the ALP ran Victoria:

The epicentre of the last recession was Victoria. It was responsible for three out of every four jobs lost nationally, 236,000 out of 313,000. Victoria's gross state product shrank in the financial years 1990-1991 and 1991-1992 . . .

But the rest of the nation was spared. In fact, there would not have been a recession at all if Victoria, which represents one quarter of the national economy, hadn't tanked so dramatically.
- "Our Retro Economy Is Still Swinging"


The current mob, Bracks & Co., love to point out that after five and a half years in power, the sky still hasn't fallen in. By comparison, the Cain/Kirner ALP State government was a good eight years old before their years of mismanagement came home to roost. On similar reckoning, Victorians should be preparing for a recession right about 2007 or 2008. Of course, with a State election coming in 2006, they always have the chance to change all of that.

3 Comments:

At 7:15 PM, Anonymous gravelrash said...

No worries, Steve will get a consultancy firm in to sort it out!

 
At 10:24 PM, Anonymous Anonymous said...

This post shows a serious ignorance of economic history. The last years of the Cain/Kirner government certainly had their faults. The world wide recession was mainly felt in manufacturing centres. The Kirner government did not contribute to the depth of the recession although their mismanagement of government funds was an equal indictment. This site is evolving nicely into a home of extremism. congradulations.

 
At 7:00 PM, Anonymous Anonymous said...

The cumulative total of comments for this site is so pathetic.

 

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