Maybe you two should both be happy you live in the one fully developed major nation that barely blinked at the global financial crisis, and that your worst worry is a few fractions of an interest rate percentage rise that overburdened urbanites might not like. Lucky buggers.*
As for Western Australian independence... it would certainly be a bit of a bummer for Australian development. Indeed, the industries of the five eastern states would be in competition with the Westralian Dominion, rather than sometimes co-operating with it.
I wonder what the independent country would have been called? Dominion of Western Australia? Westralian Republic? Cygnia? And if the butterflies weren't strong enough to avert or completely change the nature of its occurrence, how deeply would an independent *WA have been involved in *WW2?
Australia's cricket team is slightly weakened overall - perhaps in the information age we would get an Oceanic league (Westralia, Australian states and New Zealand all taking part), as opposed to the state system currently in place. This applies to rugby union, league (?) and soccer already.
Also, visa headaches for the modern multitudes of backpackers if Westralia and Australia don't establish a customs union. Ah well.
* OFF-TOPIC DISCLAIMER: This is all intended in good jest, I'm not intending a flame war by any means and apologise for any offence if somehow caused - I'm highly jealous of you Aussies, and well aware of the deep-seated differences between the miners and the overall urban population - you have a (relatively) well-managed economy, barely any foreign debt, low tax levels and a massive export surplus. Compared to, say, the Old Country. As a backpacking Welshman, I've got to leave your wonderful, overheated, sandy nation and go back to Blighty's charlie foxtrot of a job market in two months, and I'm not happy about it. No sir.