It is all cyclical
the banks know this, and really it was them who had to fail, but just showed how many strings they can pull.
The world economy over reached, and Australia did the right things, so they showed growth and defied the recession. Labour did the wrong things, well there is a surprise; too busy living the high life off the excessive taxation, to even see the sensible moves.
Australia gave cash to the people and asked them to spend, and that is Economics 101. Any money given to Government counts as ZERO in an economy, but if you give it to consumers it creates a virtuous circle.
Labour along with a whole slew of other ills are mentally retarded, they deserve our pity, but they don't deserve to make policy or look after the Nation's interests, Labour is a liability to everyone in this country.