Thursday, August 03, 2006

Interest-ing

Hey, he does know that word!

Except, he only uses it when he doesn’t think it’s anything to do with him. Howard, after running an election campaign based nearly entirely on the fear of high interest rates under Labor, is now washing his hands of the present interest rate increase. Wait, but I thought that it was under Labor that we’d see interest rates go up. Oh, he only meant that under Labor they’d go up more. Silly me.

If you look over Howard’s government you can quickly see a pattern. Every positive change in the past decade is the direct result of Liberal government, but if anything bad happens, it was somebody else’s fault. I thought Keating’s infamous ‘banana republic’ comment was ancient history, but it appears the humble banana is now in no small way responsible for controlling the reserve bank! Personal debt is increasing, and I think it should be abundantly clear that this is happening because individuals are taking out bank loans to afford modern bananas.

While Howard is busy blaming the situation rather than his party’s decisions, he is happy to blame politicians when they aren’t on his side. Indeed, it is very difficult to mention interest rates around Howard without causing him to parrot that they were at 17% under the Labor government that preceded his. This is completely true, but Mr Howard, didn’t you just spend the past week explaining how your government has absolutely no control over the current rise? Let me put it another way: Am I the only one who finds it slightly strange that high Liberal interest rates are not Howard’s fault but high Labor interest rates are Labor’s fault?

It might be just me, but I could swear there was some sort of large event that affected the whole world during the last Labor government’s time in office, the sort of large event that might drive interest rates up. I would also like to know why, a decade after the coalition gained power, Howard is still trying to associate financial problems with Labor. Johnnie boy, eventually you have to grow up and admit that it's you making the problems now. Not that I am suggesting that Labor is any sort of credible alternative at present, an idea I will only entertain when Labor stops trying to mimic the coalition’s hybrid of conservatism and populism.

Howard is eager to take credit for global upswings and very quick to distance himself from negative changes. In fact this is really a pattern through his entire leadership. In the magical wonderland Howard inhabits, the Liberal party is prancing along to victory, and up to the present, the public has been happy to prance along. Maybe reality will intervene in time for the next election. The reserve bank has indicated that another rate rise is possible, but that will probably be because of strawberries.

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