Second. They ignore global context.
For decades now, Australia has been part of the international economy. By pretending it isn't, misinformation is conveyed without actually lying.
Professor Ergas in June:
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And until Labor's growth blockers are well and truly gone, an enduring return to the fiscal strength of the Howard years will remain a dream.
Growth blockers? Strength of the Howard years?
It is technically true that growth has been lower under Labor than under the Coalition. But when assessed in context, the dream run has been under Labor.
Consider economic growth in these 13 comparable countries in calendar 2006:
Australia 3.1%
Austria 3.8%
Denmark 3.1%
Germany 4.3%
Hungary 3.8%
Iceland 3.3%
Ireland 3.4%
Italy 3.0%
Netherlands 3.3%
Norway 3.3%
South Korea 4.6%
Spain 3.9%
Switzerland 3.5%
Average 3.57%. Australia was below average.
These are the members of the Organisation for Economic Cooperation and Development with 2006 growth between 3.0% and 4.6%.
Where are they now – growth during calendar 2012?
Australia 3.1%
Austria 0.7%
Denmark -0.9%
Germany 0.0%
Hungary -2.7%
Iceland 1.4%
Ireland -1.0%
Italy -2.8%
Netherlands -1.5%
Norway 1.9%
South Korea 1.5%
Spain -1.9%
Switzerland 1.4%
The average, excluding Australia's aberrant number, is negative 0.33%. Australia is now in a class of its own.
You won't see this analysis in The Australian.
Third. They deny the global financial crisis impacted Australia.
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Oliver Marc Hartwich in The Australian this month:
One of the great myths about the GFC is that stimulus 'saved Australia'. But is this actually the case? The answer, clearly demonstrated in these pages over recent weeks, is a resounding no. China's stimulus, the Reserve Bank slashing interest rates, and the formidable inherited fiscal position were what actually put Australia in good stead.
No, that has not been demonstrated. It has been asserted with no evidence. Because the actual evidence proves the opposite.
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