"Well how about that? Life may be grim in the industrialised welfare state for most people, at least in terms of real income growth. But according to new data, Australia is the happiest industrial country in the world! Take that, Sweden and Canada!
The study ranked 34 countries in 11 categories like health, environment, jobs and income. The data in the report, called ‘The Better Life Index’, comes from Organisation for Economic Cooperation and Development (OECD). The only real blip in the news is that Australians rank their quality of life at 7.2 on a scale of 10. The Norwegians, Mexicans, and the Kiwis all reckon they are happier.
So come on Australia. Cheer up. You haven’t had a recession in 22 years. Yesterday, in case you missed it, we reported that the mining boom may not even be halfway over, according to our friend Phil Anderson. Phil’s work on long-term cycles (especially Kondratiev cycles) ought to be welcome news for beleaguered resource investors. And wait until you hear what he has to say about property."
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