Courtesy of Mish.
With the huge spotlight on Europe, Greece, the US Dollar, Canada, Switzerland, and China, it’s easy to lose track of major things outside of mainstream attention.
Like what? Like Australia.
Australian Government on Brink of Collapse
Conservatives swept into power into Australia in September of 2013 in the biggest Labour rout in history. In December of 2013 I wrote Australia’s Alleged Conservatives Surrender to Unions; Currency Madness Everywhere.
Shockingly, Australian conservatives may not last even one full term. Three days ago The Australian reported Queensland election 2015: Labor on brink of forming government.
My friend Brisbane Bear, from down under reported …
Hey Mish,
We have experienced the biggest political earthquake I have ever seen in my home state of Queensland. The government has lost power after one term. The Queensland Premier lost his seat. This after winning the biggest landslide win in history with a mandate to fix the financial mess created by Labor. They held 79 seats to 7. And now they lost. This sort of volatility is now the norm.People hate austerity. People know the party is over and are very surly and angry.
These are good elections to lose as there are no easy answers, only very hard, unpopular decisions. We are in for one hell of a ride.Regards
Brisbane Bear
I asked BB what this all meant. He replied …
Massive impact! Federal election is just under 2 years away. The Prime Minister Tony Abbottis in serious trouble and will battle to hold the top job. A leadership spill is rumored.
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