Of democracy and economy
May you read this well and in the best of health, Yesterday's watershed election is the cause of this post. Pardon me for the brevity as it is intended to be made plain simple. WHAT HAPPENED It was Australia's 2019 federal elections yesterday. Held once every 3 years, the country's eligible population will get to vote who represents their interest and aspirations in the Senate and House of Representatives. THE RESULTS In a surprise outcome, the Liberal/National party came out tops after defying Newspolls (small-scale pollster) over the past 3 years. It looked as if the Labour party may return to power but in wasn't to be. WHY THE LOST FOR LABOUR For a number of reasons, 1) Below is a chart of Australia's fiscal history since federation [1] There isn't many surplus years and most of it came from Liberal governments. So when the Liberal government announced budget surpluses before the election, it is a big issue to Australi...