Crikey Calling

Sep 12, 2013

Crikey Calling: the Australians-don’t-understand-the-economy edition

Crikey Canberra correspondent Bernard Keane and writer-at-large Guy Rundle talk the Australian economy, the Labor leadership and Bob Katter's drongo appeal.

Why do Australians keep throwing out governments that make a good fist of the economy? If Labor is leaderless for a few weeks, what will happen? And how in the hell did Clive Palmer get candidates elected to Parliament -- maybe even the man himself? Crikey  Canberra correspondent Bernard Keane and writer-at-large Guy Rundle tackle these questions and more in this week's podcast. Crikey Calling is independent media for independent minds -- in handy podcast form! Join the Crikey crew for a lively (if somewhat wonky) look behind the scenes of politics and power in Australia. Learn about what's really happening in Canberra and around the country as we chew on the biggest national affairs issues of the week, dissecting the politics, policy and players as only the Crikey newsroom can. [podcast][/podcast]

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7 thoughts on “Crikey Calling: the Australians-don’t-understand-the-economy edition

  1. the duke

    Bernard, did you get a chance to see this weeks NAB Business Sentiment Survey? the business community gave the ALP a firm thumbs down. Also, is it purely a coincidence that the ASX has had a bumper week?

  2. cyberfysh

    Perhaps the ASX has had a bumper week because other economies have had a good week, regardless of who’s in government in Australia?

  3. the duke

    you are right cyberfish, that was certainly a large factor however, a fair portion was driven by positive sentiment on the domestic front.

  4. Suzanne Blake

    “Why do Australians keep throwing out governments that make a good fist of the economy? ”

    Bernard – what Government are you talking about? have you spoken to anyone in small business?

  5. Suzanne Blake

    In fact Bernard, run a poll on small business and you will be amazed

  6. Hamis Hill

    So how does a positive sentiment throw out a positively good government Il Duce?
    And to Suzanne, the interest bill on 1.75 Trillion dollars worth of mortgage debt, let’s estimate it at 2 Billion dollars each and every week, is going to bank shareholders instead of to small businesses.
    Yes small businesses have a right to complain about their penniless customers about such economic nunberdunce idiocy but since Howard caused this problem how is the financial sorcerer’s apprentice going to fix it?
    Hockey foreshadowed extending the period of government bonds to forty years in order to facilitate the repayment of that Howard era morgtgage debt time bomb by extending mortgage repayments beyond the present twenty five year now in place.
    But somehow, to the incorrigible nunberdunces of the coalition cheer squad, such arguments are unintelligible.
    It must all be Labor’s fault then?
    Coalition clowns, economic idiocy made manifest.
    The GFC is still coming!
    Austerity is in the Coalition DNA!

  7. Mossie

    No one has ever been able to understand the economy. It’s too complex. A friend of mine spent years in Canberra trying to build an econometric model so you would be able to predict what effect various policy options would create and what the performance indicators would be.

    He went back to building betting systems.

    It’s one of the greatest lies by any government that they can influence the economy. Bullshit.

    Little Johnny Howard dudded the electorate on interest rates big time and now along came smokin’ Joe.

    He was sweating like a porker presenting the coatings. Why ?

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