"I was prompted to write after reading the Email of the day on Australian Elections.

"The writer has already forgotten that the previous Liberal Government set up a Future Fund with an initial $11bill. After 12 months Labor spent 94% of it and added so much new debt that The Federal Government will pay $48 billion in interest over the next four years. It's an alarming turnaround considering that when Labor took power the Federal Government had no debt.

"The present government says the debt was necessary to save us from recession when in fact the recession in Australia was over before Labor began their big spending spree which has caused the Reserve Bank to increase rates four times.

"I make the following points -
1 Australia was saved by our trade with Asia and a plunging Australian dollar during the crisis.
2 Labor have increased taxes on alcohol, motor vehicles and some miners
3 Labor proposed a ridiculous tax on our entire mining industry that would have been devastating
4 Labor tried very, very hard to have Australians pay a Carbon Tax prior to Copenhagen (We will get this if they win)

"David, I don't want to go on too long but in my opinion this may be the worst government Australia has ever had to suffer.

"Unfortunately they will probably scrape in for another term with the help of the Greens. The Greens are committed to a big Mining Tax covering all miners and a Carbon Tax. I will have to reshape my portfolio of resource stocks if that comes to pass."

David Fuller's view Many thanks for this informative, detailed and concise email. I could not agree more although I did not previously have all the facts that you have provided.

Thanks also for the article from The Australian: Labor raids deplete Future Fund. Anyone sensible knows that these funds need to be managed wisely, so that they increase and generate profits which help secure the nations future. Tragically for Australia, the Labor government has raided the Future Fund like a spendthrift turned lucky pools winner.

In the UK, every Socialist government that I have witnessed ends up bankrupting the economy, which the Conservatives then salvage in a manner of speaking, only to have it bankrupted again during the next change of government. In the US, Bush 2's Missions did a good job of bankrupting the economy and the Democrats are piling on the problems with as much pork as they can legislate.

Doesn't this repetition fit Einstein's definition of insanity, or is it more cynical than that?