Comments on: Comments, corrections, clarifications, and c*ckups

By: Robert Mutton

Robert Mutton — Thu, 01 Jan 1970 10:00:00 +0000

Michael, I was going to comment on Ross Davidson’s load of clap-trap until I read your comment. I couldn’t have said it better myself, except make a comment on Howard’s total lack of action on climate change, a lack of action that will dog this country for years to come. Your last para sums it up beautifully. Ross Davidson - get a life!!!!!!!

By: Matt

Matt — Thu, 01 Jan 1970 10:00:00 +0000

Ross Davidson states “I have no allegiance to any one party..” So that would be an allegiance to the Liberal AND National parties eh Ross…

By: Dave Liberts

Dave Liberts — Thu, 01 Jan 1970 10:00:00 +0000

Just a few more points outlining why Ross Davidson needs to learn some more about economics before making his grand pronouncements. The ‘recession we had to have’ is regarded as a politically disastrous comment as far as PJK’s career is concerned, but economists have no problem with it. The Australian economy was fundamentally reformed by Keating as Treasurer and PM. The combined effects of floating the dollar, wage restraint, trade liberalisation and the interest rate rises did indeed see Australia briefly in recession, with the accompanying social outcomes. Sure, Keating’s promised ‘soft landing’ would have been preferable, but the overall amount of pain which we experienced before the long boom we enjoyed was definitely worth it. These factors then kicked in to create an economy which was outstandingly better performing than it had ever been before. The test of this was seen most clearly in the late 90s, when our major trading partners in Asia hit the wall. Rather than follow them into recession (as we definitely would have happened at any previous point in our history), our economy (primarily through falling interest rates and dollar value) adjusted as our exporters found new markets for our goods. Howard and Costello did nothing (which was good, because it was exactly what they were meant to do). As our economy has further grown, our dollar has been restored and interest rates have crept up, giving the government (slash Reserve Bank) a lot of room to act if things go into decline again. Howard and Costello were not reformers, they sat back and did very little. Our debt situation and national savings needed their action, instead we got nothing. Ross Davidson’s analysis is grossly simplistic and basically ignorant, but we’ll see the Liberal Party trot out the same garbage come 2010. Keating will be remembered more fondly as the years pass and his vision is more fully understood. Costello has done very little to be remembered for.

By: Mick

Mick — Thu, 01 Jan 1970 10:00:00 +0000

Deary me Ross…put the nanna rug over your lap and think of Menzies….a bit of context might be important…clearly it was the economic incompetence of the ALP that caused the global recession of the early 90s…not the Tories in the UK or the Bush/Reagan Repuglicans who all went through a massive downturn after an 80s boom……or was it the brilliance of Howard that promoted the latest boom or Clinton or Blair…all countries underwent global cycles around the same time…….strange that…..just maybe it might have something to do with the commonalities of their economics and economies rather than the brilliance/incompetence leadership of 0.3% of the worlds population