The aftermath of the latest crisis of Capitalism labeled the GFC has seen a dramatic polarisation of politics in the West. France, Australia, and The USA have gone down the left road, characterised by NeoKeynesian economic policies focussed on government intervention in the market to stimulate the economy and create jobs, while Europe has veered to the right, inflicting Hayeckian austerity policies which have produced a triple dip recession in Britain, a generation of uderperforming economies, and a mass of unemployed.
Obama's re-ellection reignited the light on the hill in that country while the socialist regime in France is on a five year term. Here in Australia the light is threatened by the implosion of the ALP. None-the-less, if the Gillard government were judged on the number of progressive initiatives it has been able to push through, they would win easily in September. The fact that the opinion polls point to a rout, and they can't be that far off, has been generated by a dishonest spin campaign, and the electorate has swallowed it. A miracle could still happen. Media reports during the US election insisted on suggesting that the GOP had a good chance right up to the end.
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