The Reserve Bank lifted rates this morning. This was not entirely unexpected. OK, so the PM’s pitch is this: things are going gangbusters (we’re going for growth after all), but at least you can trust us to hold your wages down. Don’t expect Kevin to do that, he’ll give you more money.
Election tracker
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So far this week we have seen three surveys of primary support for the Coalition and ALP. Neilsen has it at 48 to 41. Newspoll says 48 to 42. Roy Morgan’s estimate today is 49 to 39, giving a two-party preferred figure of 57.5 to 42.5.
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Who or what should sign Kyoto? And when should they do it? And should they if China doesn’t? And will it cost jobs? Watch this video and wonder why it is that politics — never mind the planet — is so plagued by hot air.
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Whatever will happen next?
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”You would release such inflationary pressures in society as would end in recession.” Treasurer Peter Costello is setting out on a tough political sell.
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So let’s see, two-party preferred spending running at a daily rate of about $3.68 billion … 31 days left … that’s $114.2 billion by November 24. Which is just over a tenth of a trillion, or put another way, roughly one tenth of Peter Costello’s estimate of the entire annual value of the economy. Guys, are you sure we can afford this?
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Today’s headlines: Union dominance a danger: PM
