So now you are comparing the Australian economy, one of the world's most successful over the last 30 years coming off the boil a tad to a country that is basically bankrupt with 4-5 x the debt per capita, had 1/4 of its workforce made unemployed, 10% of the working population left the country has suffered massive (you can look it up) wage deflation, lost 1/4 of its economy and the share market lost over 50% of its value still after 10 years etc etc etc ?????Newsflash: We have a slumping GDP, increasing unemployment, almost zero interest rates and wages stagnant since 2011. Result; Australia's GDP has fallen below that of Greece.
It's a perfectly valid comparison.
Trying to compare a late model sports car with a few dude plugs because the whole market is full of dude plugs with a clapped out 1970's Beatle thats had a tune up is hardly the world of commonsense.
Australia is near the top of the pile, exposed to the negative impact of global markets.
Greece is a F^ Up economy that was full of corruption as standard day to day way of doing business with a mind set that working for 30 years and paying bugger all taxes means you are entitled to a fat pension in your 50's. After 10 years of a level of hard pain that Australia hasn't seen in nearly 100 years they hit the bottom.
Meanwhile for the brains trust amongst us
- Greece unemployment - 17%
- Youth Unemployment rate - 33%
- Long-term unemployment Rate - 12%
- Debt as % of GDP - 175%
- Average Wage - $USD 755 /mth
- GDP per capita - $23,500
- Negative inflation 2019, 4 years of negative inflation 2013 - 2017
- Personal income tax around 45%
- There are less cars registered on the roads than in the mid 1990's.
- The population has shrunk to around same as late 90's.
- The country has only achieved a govt surplus over the last 3 years, total $5B, thats after 40 years, read it again, 40 years of deficits.
Now, if you really believe its compatible with Australia, why not add the Australian figures along side it....of you go, I'm waiting.