This might not be everybody’s cup of tea, but there was some fascinating reading on economics and politics in last week’s media, and since I have nothing else for you, here it is in my blog:
Then there was Access’s early 2009 warning that it would be “impossible to avoid a recession“. The Rudd government promptly did exactly that.
The immediate test of whether a party is fit to govern is the minerals resources rent tax (MRRT). In economic terms, it’s a no-brainer, which is why the opposition’s stance is such a worry. Either there are no brains, or the leadership is so pathetically shallow that they are prepared to damage the country to get the keys to the Lodge.
Pointing to Australia’s Budget deficit, the Opposition Leader thundered: “Why is the Government planning to provide money it does not have to prop up the eurozone, which is the world’s biggest economy?”
ABBOTT knew – or should have known – that Australia’s contribution to the IMF would be in the form of a loan, with no impact on the Budget bottom line. In fact, it will earn interest.