A different angle on why Australia escaped the GFC: Australia has for a long time had the highest interest among the OECD countries, it has the poorest pensioners among the OECD countries, second only to Ireland, and the reason for that is meanest "Means Test" of the basic old-age pension. Australia benefits to the tune of some 800million dollars which comes mainly from the European countries and saves more than 500million in Centrelink payments for old-age pensions.
Some immigrants who migrated from Europe in the 50's and 60's have paid taxes 2 or 3 weeks after arrival in Australia and if they now receive an old-age pension and some overseas pension, they often lose $0.815 in every dollar extra income above $6640.00, and this is another reason why Australia escaped the worst of the GFC.
The high interest rate in Australia also encourages the so-called carry trade, where people in other countries borrow at often zero interest rates and invest in Australia at some 7or more%, but as A$ is now at a very high level they are taking a currency risk, should A$ plummet.
Furthermore as the recent governments have been throwing money around like it is going out of fashion it may come back to bite.
The majority who have not lost their jobs are doing o.k but what about the 5% who are unemployed officially and another 5% who are underemployed or not counted as unemployed because their partner works and they get nothing in unemployment benefit due to the means test.
The reserve bank governor and the Australian government are only looking after the top 30% of the population, including themselves at the expense of the bootom 20%. Not really a Democracy, more of a Plutocracy.
Just a big "Super Fraud"

Soren I do not think that the state owes us a living, but then it should also not prevent us to earn a living, and everybody able and willing to work and not able to find work, is in a way prevented from earning a living.
Marx said that "Everybody should contribute according his/her ability and take according to his/her need" but unfortunately that requires a more enlightened society than the one currently.
In our society there are two types of parasites; the one who does not want to contribute anything towards the society and expect the society to provide him/her with a living, albeit a very modest existence and then there is the other parasite who managed somehow by luck or by crook; like the ex-communists, accumulate so much wealth that all he/she contributes is money, and expect that the money "works" for them and they live in luxury; yet money does not work, people work.