> Perhaps it is because I come from a country where over recent decades > we put > in place a set of responsible financial regulations and are currently > reaping the rewards for it. While your financial system is needing > massive > support just to stay afloat we are having zero problems. In fact, the > only > economic problems we are facing (which are still large) are as a result > of > other countries massive recessions (reduced trade, exchange rates, > credit > issues etc). > > You see, we LIVE what I'm talking about and it is a good place to be.
http://en.wikipedia.org/wiki/Australia - - - Australia is one of the *most laissez-faire capitalist economies*, according to indices of economic freedom. Australia's per capita GDP is slightly higher than that of the UK, Germany, and France in terms of purchasing power parity. The country was ranked third in the United Nations 2007 Human Development Index, first in Legatum's 2008 Prosperity Index, and sixth in The Economist worldwide Quality-of-Life Index for 2005. All of Australia's major cities fare well in global comparative liveability surveys;[56] Melbourne reached 2nd place on The Economist's 2008 World's Most Livable Cities list, followed by Perth at 4th, Adelaide at 7th, and Sydney at 9th.[57] The emphasis on exporting commodities rather than manufactures has underpinned a significant increase in Australia's terms of trade during the rise in commodity prices since the start of the century. Australia has a balance of payments that is more than 7% of GDP negative, and has had persistently large current account deficits for more than 50 years.[58] Australia has grown at an average annual rate of 3.6% for over 15 years, a period in which the OECD annual average was 2.5%.[58] The Australian economy could fall into recession in 2009 after 17 years of growth,[59] according to the IMF.[60] The Hawke Government floated the Australian dollar in 1983 and *partially deregulated the financial system*.[61] The Howard government followed with a *partial deregulation of the labour market* and the further *privatisation of state-owned businesses*, most notably in the telecommunications industry.[62] The indirect tax system was substantially changed in July 2000 with the introduction of a 10% Goods and Services Tax (GST), which has slightly reduced the reliance on personal and company income tax that characterises Australia's tax system. - - - Well now wonder life has been getting better for you. Your country has be *de*-regulating a lot lately... - Bob _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
