In one way, nothing has 
happened. Everything still rests on the three independents Katter, 
Oakshot and Windsor. From another point of view a lot has happened in 
Australian pollitics. Some is old stuff I haven't touched on yet, and 
some is new. Here is a summary of the issues I think may have a bearing 
on the final outcome:
I) SHOWDOWN: Warren "foot-in-it" Truss V. Bob "big-hat" Katter
National's
 leader Truss and former National Katter have not exactly seen eye to 
eye for a while. It all started with the deregulation of the dairy 
industry, and has continued on. Normally this would be a slight 
hinderance to the Coalition snagging Katter and (with just 73 seats) 
this posses a concern. Still, Abbott could work around that and ignore 
the conflict.
It did not help, however, that according to 
Katter on the 7:30 report Truss raked up the animostiy again. On the 
very same night it became obvious Katter may hold the power to make or 
break a Coalition government.
"[H]e attacked me personally
 last night" Katter reported, and we can only assume that this was a 
verbal assault rather than a failed assasination attempt.
  | 
| [Editor: Or was it? Is Truss the mysterious Bubble-O-Bill hat-hole shooter?] | 
To
 make matters worse for Abbott and the Coalition, Barnaby Joyce - the 
human punchline - did exactly the same thing, which Katter tamely 
described as "a similar piece of incredible unfortunateness".
While
 this has done nothing to ingratiate the Nationals with Katter, this is 
not the disaster it could have been for the Coalition. Firstly, Katter 
alone cannot descide the parliament. Secondly, Katter is more 
likely to be swayed by rational argument, not emotional tomfoolery. 
Thirdly, it has been suggested Katter might make a deal with the 
Coalition that then costs Truss his position. This third option is, 
however, as likely as a Liberal-Labor coalition. Speaking of which:
II) HEY! NOT COOL MAN. - Liberal backbencher cries.
After
 Adam Bandt sided with Labor to give them 74-seats, they were criticised
 for forming a coalition. Which would be a minor note except that the 
criticism came from the Coalition parties. Without wanting to recap all 
of Australian politics since 1922, I should point out that the Coalition
 is (and the name really should be a hint here) a coalition. So when 
they yell that Labor and Greens formed a coalition and compromised on 
all their policies, you think someone might take them aside and remind 
them that so did they - and they've been doing it for 88 years.
The
 real concern for Abbott is his claim that there was a secret deal 
before the election, because the Greens did not seriously talk to the 
Coalition. But given a choice between a left-wing party that wants, 
among other things, to price Carbon and a right-wing party that still 
harbours climate skeptics and whose leader once described climate-change
 as "bull$#!+", what was the point. They would have had to make massive 
concesions to bring the Liberals anywhere near the point that Labor was 
already at.
And environmental policies are not the only 
point of contest between the Greens and the Coalition. To quote the 
Wikipedia page on the Australian Greens:
Relations
 between the Greens and conservative parties are almost uniformly poor. 
During the 2004 federal election the Australian Greens were branded as 
"environmental extremists" and even "fascists" by members of the 
Liberal-National Coalition Government. Fred Nile and John Anderson 
described the Greens as 'watermelons', being "green on the outside and 
red on the inside". John Howard,  while Australian Prime Minister and 
leader of the Liberal Party, stated  that "The Greens are not just about
 the environment. They have a whole  lot of other very, very kooky 
policies in relation to things like drugs  and all of that sort of 
stuff".
While the debate will continue to 
have no significance on the outcome, the coalition has now ruined any 
chance they might have had of winning Bandt back by claiming they acted 
as underhanded minions of the Gillard Overlorddom (Overladydom 
perhaps?).
III) I'M NOT A 
NATIONAL NATIONAL. - Tony Crook
While
 the Labor Party has been busy plotting this totally unexpected unison 
of Left-wing parties which no one could have predicted (See: [
Editor: a link to a former PsephologyKid statement has been lost. This statement specifically predicted Labor-Greens cooperation.] see also: 
http://en.wikipedia.org/wiki/Sarcasm) the coalition has been facing the exact opposite. Nationals' Tony 
Crook has expressed his desire to be considered a crossbencher. 
Apparently the WA nationals are not part of the coalition (which was 
news to the Liberals, AEC and Nationals in other states).
There
 is a very real risk that Crook may cross the floor and side with the 
Labor party. Assuming the Labor party backtrack on absolutely everything
 and become a second Liberal party, that is.
The biggest 
impact I can see this having would be when Crook announces that he 
cannot negotiate with those Leftists and backs Abbott, and the national 
media print every paper with the headline "CROSSBENCHER TO SUPPORT 
ABBOTT", scaring the daylights out of Labor supporters for two whole 
seconds.
IV) WHAT ELEVEN BILLION? OH, 
THAT ELEVEN BILLION. - Abbott
The
 indepenents asked Abbott to submit his election promises to the 
treasury to check the costs, and Abbott refused. Which is perfectly 
understandable, because it is the treasury's job to check the costs of 
election promises, and not waste time checking the costs of election 
promises.
Abbott was afraid that some of the information 
might be leaked to the Labor party. You know, all that top secret stuff 
they were broadcasting nationally for five weeks. So the indepenents 
asked Abbott to submit his election promises to the treasury. And he 
refused again. And this went on until someone reminded Abbott that the 
independents held the ballance of power.
Then the treasury
 looked at the figures and discovered that the Coalition had promissed $
 11,000,000,000 more than they admitted. But as Abbot pointed out, the 
coalition hadn't been trying to cover this up. It was a "difference of 
opinion".
And after all, whose estimate are you going to 
trust? A group of honest polliticians, or that bunch of 
economically-literate men and women running the national finances?
V) LOVING AND HATING IN TASMANIA.
A
 fourth independent was elected in Denison, a seat in Tasmania including
 Hobart. The fight was close with Labor and the independent Andrew 
Wilkie, and eventually Labor had to give up. Before they could work up a
 bitter campaign of statistics and emotional blackmail to win his heart,
 though, Andrew Wilkie joined the Labor party, making my detailed 
examination of the seat moot. As a former Green, one might have expected
 this, and his support for a National Broadband Network and opposition 
to Work Choices would have been big hints too.
This is probably the most significant move since the election, earning Labor 74 to 73.
VI) THE FALL OF HASLUCK.
For
 a while I was predicting that the winning of Hasluck would play a key 
role in winning a majority of seats. While it turned out to be less 
significant than expected there is no doubt the Coalition would be 
almost out of the running completely had the Liberals not won it.
With
 all 73 seats, including Hasluck and the WA Nationals' seat of O'Connor,
 the Coalition could just reach 76 with the aid of Katter, Oakeshot and 
Windsor. Although this is far from stable government, we can see that 
Labor's 74 is only one seat stronger, and relies the Greens' Adam Bandt 
and Denison independent Andrew Wilkie. If either of these should oppose 
Labor on any point, they will fall to 73 seats - and raise the coalition
 to 74.
Had Hasluck fallen the other way we would almost certaily have a Labor minority government already.
VII) LET THE PEOPLE DESCIDE THEIR LEADERS? DON'T BE REDICULOUS. - A statement agreed upon by all sides of politics.
Everyone
 is saying the people of Australia do not want a second election. Well, I
 can more or less guarentee the half who voted for the loosing side will
 once things settle out. [
Editor: see also: everything Abbott said between 2010 and 2013, especially relating to motions of no confidence and blocking supply] The fact is, the politicians don't want a 
second election. Here's why:
Labor doesn't want a  new election, because they will need to fight hard to keep their seats and win more.
The Liberals and their coalition buddies are in the same position, but now need to worry also about WA Nationals.
The
 Greens have their first seat in the lower house. Ever. [
Editor: Actually, they won Cunningham in a 2002 by-election. This was their first general election win, though.] In a 
re-election, with voters flooding back to Labor or Liberal in droves to
 break the stalemate in favor of their prefered side, the Greens will 
almost certainly loose this.
Andrew Wilkie has contested several 
elections in NSW and Tasmania, and only just got in this time. For a 
simmilar reason to the Greens, he does not want to risk another 
election.
The three independents Katter, Oakeshot and Windsor now 
hold all the power, because the Coalition-Labor split is so close. With a
 re-election they can once more be thrust aside and ignored.
VIII) SO HOW WILL IT END PSEPHOLOGYKID?
Look, if 
I knew, someone better informed than me would have published it by now.
Labor
 has the best promise of stable government. On the other hand, I think 
the Coalition is slightly closer policy-wise to winning the Independents. At a guess I would say the three amigos could easily split
 it 75-75 if they don't hold things together. But there will be so much 
pressure to decide that they now have to move as a block, or at leat 
give two to Labor. I think this will be the easiest solution for them, 
rather than maintaining their co-operation. After all, they aren't a 
party - they are three people with different views forced together by 
circumstance.
Possible outcomes:
Liberal 76:74
No Leader 75:75
Labor 76:74
Labor 77:73
If
 they must split but form a government, then Labor is the only option 
mathematically. If they reamin united, Labor offers the best prospect of
 a full three-year term for them to influence.
For this reason I am backing a Labor win if - and only if - I am forced to bet at gun-point.