Why this is a bad time to win an election

Since the 1970s, it’s almost always been global debt – not any government’s policies – that determines Australia's performance. And as the Liberal Party takes the reins, luck’s not on Australia’s side.

Kevin Rudd came to power for the first time on December 3rd 2007, just a few months after the global financial crisis commenced, and some time before its severity was truly appreciated by the political classes of any nation. On September 7, he lost office for the last time.

The first election he won was a bad one to win, not because he was blamed for the calamity of the GFC itself of course, but because his entire term was dominated by reacting to it.

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