{"id":2977,"date":"2014-12-14T09:14:33","date_gmt":"2014-12-14T14:14:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2977"},"modified":"2014-12-14T09:14:33","modified_gmt":"2014-12-14T14:14:33","slug":"myefo-australia-set-to-emerge-from-once-in-a-century-resources-boom-with-little-to-show-for-it-abc-news-australian-broadcasting-corporation","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2977","title":{"rendered":"MYEFO: Australia set to emerge from once-in-a-century resources boom with little to show for it &#8211; ABC News (Australian Broadcasting Corporation)"},"content":{"rendered":"<p><a href=\"http:\/\/www.abc.net.au\/news\/2014-12-14\/myefo-plunging-iron-ore-price-punches-massive-budget-hole\/5964654\">MYEFO: Australia set to emerge from once-in-a-century resources boom with little to show for it &#8211; ABC News (Australian Broadcasting Corporation)<\/a>.<\/p>\n<p class=\"first\" style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; font-weight: bold; padding: 0px; margin: 0px 0px 1em 0px;\">&#8220;It&#8217;s the economy, stupid.&#8221;<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">That famous phrase, uttered by advisor James Carville in 1992 to then presidential hopeful Bill Clinton, has resonated across the globe.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">It doesn&#8217;t matter how successful a leader is at foreign policy, infrastructure, social policy or education. If the economy tanks, and voters end up worse off, you&#8217;ll soon be an ex-politician.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">It makes little difference to an electorate that your government may have done better than all the others, or that it had to contend with a crisis.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">The hip pocket is paramount.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\">So for the past quarter of a century, it has been de rigueur for prime ministers, presidents and treasurers globally not only to boast their economic credentials but to give off the illusion that they actually run the show.<\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\"><!-- [if gte mso 9]><xml>\n <w:WordDocument>\n  <w:Zoom>0<\/w:Zoom>\n  <w:DisplayHorizontalDrawingGridEvery>0<\/w:DisplayHorizontalDrawingGridEvery>\n  <w:DisplayVerticalDrawingGridEvery>0<\/w:DisplayVerticalDrawingGridEvery>\n  <w:UseMarginsForDrawingGridOrigin\/>\n <\/w:WordDocument>\n<\/xml><![endif]--> <!--StartFragment--><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 13.0pt; font-family: LucidaGrande; color: #282828;\">&#8230;click on the above link to read the rest of the article&#8230;<\/span><\/p>\n<p style=\"word-wrap: break-word; line-height: 1.3334; font-size: 1.25em; padding: 0px; margin: 0px 0px 1em 0px;\"><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MYEFO: Australia set to emerge from once-in-a-century resources boom with little to show for it &#8211; ABC News (Australian Broadcasting Corporation). &#8220;It&#8217;s the economy, stupid.&#8221; That famous phrase, uttered by advisor James Carville in 1992 to then presidential hopeful Bill Clinton, has resonated across the globe. It doesn&#8217;t matter how successful a leader is at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,4],"tags":[41,63,246,637],"class_list":["post-2977","post","type-post","status-publish","format-standard","hentry","category-economics","category-environment","tag-australia","tag-banks","tag-economy","tag-politics"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2977"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2977\/revisions"}],"predecessor-version":[{"id":2978,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2977\/revisions\/2978"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}