perceptions_now
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Australian Politics
Posts: 11694
Perth WA
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perceptions_now wrote on Jan 25 th, 2014 at 3:48pm: No matter what the true Party Political believers on both sides of Politics may believe, there is little to no truth in rumours spread by those "who believe" that one or another side of Politics is inherently better or worse than the other.
The truth is that the real test for both Political & Economic systems, is that of outcomes & not just outcomes, But LONG TERM OUTCOMES, BOTH ECONOMIC & THE HUMANITIES!
Unfortunately, most Politicians & Political Party's, over a considerable length of time, both here in OZ & in most other countries, have failed to pass this test! A quick look at Reality shows a "somewhat" different picture, to PR slogans painted by Politicians.
In broad terms, the USA & Japan are painted as Capitalist countries, whilst Norway would generally come under Socialism, as it has major Public ownership of various major business entities & it provides considerable Services to the Public, including Medical & Retirement Benefits, But it also applies quite high Taxes.
But, the current Economic outcomes can only be described as "interesting, including a comparison to OZ -
1) Japan - 212% Debt to GDP Ratio
2) USA - 102% Debt to GDP Ratio
3) Norway - 28% Debt to GDP Ratio
4) Australia - 21% Debt to GDP Ratio http://www.tradingeconomics.com/country-list/government-debt-to-gdpSo, the leading Capitalist countries are actually in Debt, BIG TIME, whilst both Norway & Australia actually have quite modest Debt.
But, it doesn't finish there, because Australia also has an $80 Billion Future fund, which is some 5% o its GDP, which is ok, But the big winners are the Norwegians who have a "Future Fund" now sitting around $900 Billion, which is approaching 200% of their GDP.
So, like I said, IT'S ABOUT OUTCOMES & LONG TERM OUTCOMES AT THAT!
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