It shows a headlong rush in the race to be the Venezuela of the Pacific.
Australia is heading that way, thanks to a succession of deluded state and federal socialist governments. Yes, Turnbull is a socialist.
Have a look at the figures. They make for scary reading.
|Australia's balance of trade went from US$35.9bil positive in 2011 to US$12.9bil negative in 2015.|
|In my opinion, while a weakening in China's demand for iron ore and coal has been a factor, much of the decline in GDP and export revenue can be attributed to an insane energy policy based on closing down the coal industry and subsidizing uneconomic so-called 'renewable energy' which has rendered Australia's power supply among the most expensive and unreliable in the world.|
|- all based around the irrational and religious belief in 'global warming.'|
|No wonder Aussies with brains are flocking to NZ in their thousands.|
No sooner do I hit the publish button but the bad news keeps rolling. 600 more jobs gone, this time due to intransigent unions.