The situation in Australia was Re: The situation in Turkey (from PEN-L)

Gary Maclennan g.maclennan at
Thu Apr 5 18:17:50 MDT 2001

I have read the posts on Argentina and now on Turkey.  I am wondering if
the coming economic downturn here will deepen. As everyone knows my
understanding of economics is abysmal.  (You should have heard me yesterday
trying to explain the difference between exchange and use value to a first
year class.  Cringe!)

My own feeling however is that we are in trouble here in Australia.  In the
main media the hired optimists say otherwise.  But that is spin and
hype.  Everyone feels a crisis is coming.  Small businesses are beginning
to close down.  The Govt however is in denial while the Labor opposition is
joyful at the prospect of winning the coming election without having to
promise to do anything.  People will just be so glad that they are not the
governing Liberal Party.

But the advent of a Labor govt will make little difference.  I fear we may
be headed the way of Argentina and Turkey.



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