GrodsCorp

Does not compute

Wednesday 7 November 2007, 3:14 pm

The Editor

Categories: Australia Decides '07

Tags: advertising, employment, inflation, InterestRates, PeterCostello

The government has spent all of today prosecuting the implausible argument that high interest rates are a sign of good economic management. Of course, it’s all the more audacious given the government’s pledge in 2004 to keep interest rates at “record lows.”

In fact, they promised the following:

And here is treasurer Peter Costello today:

Mr Costello says [the interest rates rise] is proof of good economic management, which voters should ensure continues.

“When you have low unemployment there will always be more pressure on inflation,” he said.

“You would always expect interest rates to be higher during a period of low unemployment than a recession.

So why did the government promise to increase employment, keep inflation under control and interest rates at record lows, when they now reckon that more jobs causes higher inflation which, in turn, causes higher interest rates?

They’re just making this up as they go along, aren’t they?

8 Comments

QuietStorm (Wednesday 7 November 2007, 3:34 pm) #

They’re just making this up as they go along, aren’t they?

That should have been made screamingly apparent already, what with Howard’s deathbed conversions to:
- climate change action
- reconciliation
- health care funding increases
- higher education funding increases
- reducing tax for middle income earners and not just the top end of town
- addressing the skills gap between unskilled workers and university graduates

Et cetera, et cetera, et cetera…
Jimmy Scullin (Wednesday 7 November 2007, 4:00 pm) #

Someone needs to wipe Costello’s smirk of his face with a SMACKDOWN! But who will it be?

http://www.youtube.com/watch?v=aaLLP4sc_6Q

C’mon, Costello is easy pickings.
gandhi (Wednesday 7 November 2007, 4:33 pm) #

Dont forget the smackdown that Liberal MP Cameron Thompson copped yesterday for suggesting that a rate rise would be good news for the gummint!

Howard, Downer and Thompson himself all denied that he even said such a thing - but today they are all saying the same thing!

What a miserable pack of wankers.
Bruce (Wednesday 7 November 2007, 7:21 pm) #

Slight point of clarification to make.

There is a difference between saying higher interest rates will be good for the Government(’s re-election prospects) and saying that it signifies good economic management.

They are two stupid things, Thompson saying the former but not the latter yesterday, and Costello saying the latter but not the former today.

They are both crap, so when you conflate them, you give up getting two stupid gaffes for the price of one.
Bruce (Wednesday 7 November 2007, 7:22 pm) #

Although, Costello is of course playing to Thompson’s game plan.
Mikey (Wednesday 7 November 2007, 7:40 pm) #

Well I’m willing to pay an extra $50 a month if it means these fuckers are gone.
Thompson said it, then Costello does it: “Higher interest rates a sign of good economic management” « The Thinkers’ Podium (Wednesday 7 November 2007, 7:49 pm) #

[…] for the Youtube link again go to Jimmy Scullin, the man apparently secretly pulling the strings in my faction. I’d better put a lid on him […]
Jimmy Scullin (Wednesday 7 November 2007, 9:53 pm) #

Ahh the old good cop bad cop routine then? Except for the fact that the Oz public are not all criminals and can see through it.

Incidentally, if anyone watched the youtubelink now posted at TTP the look on Costello’s face at the end is priceless. GOLD!