Joining the Elite

How do you think Australia’s economy is going, compared to the rest of the world?
Sir Roger wonders because some rainbow-lovers say it’s magnificent and some shrill hurricane chasers say we’re going to hell in a handbasket and doom is upon us.

Sir Roger had his servan staff do some forensic research. They discovered that only the following 11 countries (i.e. the top roughly 6%) have AAA ratings with stable or positive outlooks with all three “big” ratings agencies (Fitch, Moody’s, Standard and Poors):

Australia
Canada
Denmark
Finland
Norway
Singapore
Sweden
Switzerland
Germany
Luxembourg
Netherlands

This is nice…isn’t it? That’s an elite group! Even the UK and US aren’t in it.

Shouldn’t we be grateful and count our blessings, even celebrate?

So if we are doing so well, if the economy is so excellent and apparently we’ve really “never had it so good”, why are so many people (all right I mean Jolly Joe and Tony the Tool and all the Liberal Premiers) trying to convince us how badly the economy is being managed, how tough life is, how bad we feel, and how much we’re all struggling?

Remember it’s been 5 years now and they can no longer lay the wreaths at Costello’s door. Maybe they hope no-one will actually look at the facts.

Or did Sir Roger miss something?

You’re aware that a AAA rating is only about the money and in a “two-tiered economy” that may not mean a lot to the people on the lower tier (not being Andrew, Gina or Clive). But there is another list called the UN Human Development Index. It rates countries for Life Expectancy/Health, Education and Standard of Living.

Here are the top few countries (corrected for “inequality”):

Norway
Australia
Sweden
Netherlands
Iceland
Ireland
Germany
Denmark
Switzerland
Slovenia
Finland
Canada
New Zealand would be in the top ten (it is #5 in the uncorrected index)

So surely it can’t get much better than this? I mean, if we’re miserable and pessimistic and afraid of the future in this environment, when would we EVER be happy and appreciative and optimistic?

Sir Roger thinks it’s not the facts that are at play but the clash of perceptual “frames” being manufactured by each side, the optimists and pessimists, that is directing the narrative and the perception of how well we’re doing.

What do you think?