Claims that Wayne Swan could hurt the banks by pressuring them to pass on rate cuts are rubbish.
Wayne Swan
Follow Crikey’s latest coverage of Wayne Swan. Crikey’s Wayne Swan coverage includes independent news, blogs and commentary.
Crikey Says: Misogyny isn’t why Gillard is in trouble
Is criticism of Julia Gillard’s performance as prime minister sexist, as Bob Brown suggests? Is the current bout of leadership rumbling reflective of the febrile, misogynist minds of male media commentators?
Political snippets: The Muppets attack Fox News
Miss Piggy did not pull any punches with her judgment on Fox News at a London press conference this week.
Political snippets: Who put the fun police in charge of racing?
From the end of this month there will be new forms to fill in if you want to avoid the risk of someone else legally grabbing your horse.
Keane’s 2011: year of the flake
Politics in 2011 was characterised by an intense dislike of Julia Gillard and Tony Abbott, and rampant denialism.
The year of the non-lessons of fiscal stimulus
In 2011 we all became monetarists again, despite the lessons of the GFC.
Asylum seekers: finding a Political Solution
Crikey media wrap: The Gillard government appeared willing to negotiate its Malaysia Solution even before the latest boat tragedy but the Opposition refuses to compromise on its asylum seeker policy, according to private letters released yesterday.
Your Say: Daily Mail readers' feedback: Black Swans and Christmas turkeys
Black Swans and Christmas turkeys: Niall Clugston writes: Re. “Power Shots: can Swan beat the banks? … biggest Power fails of 2011 …“ (yesterday, item 14). Well, in fact, Australian parliaments have all the power that previously resided with absolute monarchs. The only real restriction is the federal constitution, but that doesn’t mention interest rates. […]
Interest rate rituals and Christmas
pantomimes
Here we go again. A year on, we’re having the same debate about banking regulation.
Bank stand-off over interest rate cut
Crikey media wrap: The Reserve Bank’s decision to cut interest rates by 0.25% earlier this week has turned into a stand-off with ANZ the only one of the Big Four banks to pass the cuts on to customers.
Bonhomie thick at ALP conference as the deal-making begins
Prime Minister Gillard kicked off ALP National conference proceedings at the Sydney Convention Centre this morning by adopting Obama’s/Optus’ “yes” refrain, presumably to distinguish Labor from Tony Abbott’s negativity.
MYEFO and the twisted politics of illusion
There are illusions everywhere in Wayne Swan’s MYEFO documents. In effect, the budget will still be in deficit in 2012-13, it’s just that enough of it has been tacked onto this year’s deficit to get it out of the red.
Tiny budget surplus causes big fuss
Crikey media wrap: The Gillard government will achieve its election promise of a budget surplus by 2012-13, even if the wafer-thin $1.5 billion surplus is achieved for mainly political rather than economic reasons.
MYEFO: Swan cuts to save the thinnest of surpluses
The government has unveiled a range of spending cuts but they won’t stop a big blowout in this year’s budget deficit.
Political snippets: The magic 2.5% in Swan’s Fiscal Outlook
When in doubt just wave the magic wand and declare across the board savings of whatever amount you need to make a promise sound plausible.
Swan’s mini budget challenge
Whether things in Europe are catastrophic or merely disastrous has major implications for the coming mini-budget.
podcast Canberra Calling: The get your shit together Europe podcast
World markets continue their volatility, so Canberra correspondent Bernard Keane joins Crikey editor Sophie Black to analyse the financial instability in Europe and how it it is and will effect Australia.
Political snippets: Things can only get better
The labour force figures out from the Australian Bureau of Statistics this morning at least tell us that things are not getting worse.
Locking in a surplus with the carbon price pea-and-thimble trick
Forgetting cutting emissions - the carbon price package has a shorter term benefit for the government. There’s one minister relieved that the carbon pricing package is locked in, and not for anything to do with emissions abatement.
Political snippets: Improved consumer sentiment is good news for Gilllard
The Westpac/Melbourne Institute Index of Consumer Sentiment perhaps provides a clue as to why Labor has been improving its standings in the recent opinion polls.
Millions of taxpayers’ dollars propping up non-bank mortgages
The Australian Office of Financial Management, under the auspices of the world’s greatest Treasurer, Wayne Swan, has been spending billions of dollars of taxpayer money propping up the non-bank mortgage sector.
Swan croaks his way to success, but how long until Labor ruins it?
Labor is happier fighting on IR and Tony Abbott has come off the boil. But how long until Labor stuffs it up again?
Bartholomeusz: NAB keeps five to stay alive
Wayne Swan’s attack on National Australia Bank, labelling it “greedy” for “only” passing onto home loan borrowers 20 basis points of the Reserve Bank’s 25 basis point reduction in official interest rates, is churlish and betrays a poor memory.
Inflation: ‘skyrocketing’ versus ‘softening’ — you be the judge
Life’s hard for an Opposition when a government gets good economic news.
