Mood:
incredulousTopic: aust govt
"George Megalogenis is The Australian's resident nit-picker."
Here is the article link:
We’re not in Kansas any moreMeganomics Blog | February 16, 2008 | 43 Comments
Here is "whitey" no. 2 comment with bold added, which shows Big Mal Turnbubll or similar is foraging the press for question time tactics - like everyone else. We couldn't resist tipping off Wayne Swan's office now the milk is spilt, and Mal Turnbull has the equally high standard to meet:
whitey
Sat 16 Feb 08 (07:56am)Indeed so, George, I believe it’s known as NAIRU, the non accelerating inflation rate of unemployment. It does throw into relief the promises made by the Libs during the election to bring unemployment rates down to “a figure with a 3 in front”. It’s clear they didn’t do anything to expand capacity during those wasted years, so by definition this would have increased inflation, which by definition would have increased interest rates, since it’s part of the independent Reserve Bank’s charter to keep inflation under control. So all those whinging Liberal nellies saying higher inflation is the inflation we had to have don’t get it—there’s a unemployment figure below which inflation and interest rates will rise, and we are currently below that point. Cutting wages through Work Choices for the low paid, as it’s now clear was the Liberal plan, will not and has not stopped inflation and interest rates from rising. It would smashing for unemployment to be zero, just as it would be smashing for me to be given long service leave eight years early from my current job so I could head off to WA and see some prolonged sunshine for the first time in about 2 rainy Sydney months. Neither is going to happen any time soon.
I reckon Rudd’s wages call is an attempt to erect some early political insulation from when things get tougher. But you’re right, both Swan and Turnbull are pretty rubbish. The only good sign is that the ALP recognises there’s a problem. If the other side was still in power they’d be going full steam ahead for the rocks with their eyes closed
