This is 100% MYTH.marcus wrote: I also can't believe how the Hawkes/Keatings are still such poor losers (as seen/heard on the media), and that they are still so vocal on how bad the Libs were. Pity they put this country in some severe economic stress, and that its taken the Lib Govt about 10 years to fix.
When Hawk took over Power after JH Was treasure. Inflation was at 11% and interest rates were at 13%. The Economy was a MESS.
Labor were the ones that had to make the BIG calls in order to get us back on tracks. It's a very slow process. Labor Floated the Australian dollar for the first time. Created massive trade with Asia. Invested in Infrastructure that we still use today.
All the Liberal party has done is Cut funding to Universities, sold off some assets and Created a situation where Australians are up to their EYEBALLS in Debt.
when rates where at their 'worst' under labor, the percentage of take home pay that was paid in Home loan interest, was 8%. Now it's 17% and we all live in pretty much the same houses.
Australians have borrowed massive $$ and guess what. That stimulates the economy. But at some point we have to pay it back.!
Libs good economic managers ???
Pfft..
They are irresponsible, irrational, stock brokers, Gambling with borrowed time..
GOOD RIDDANCE !