Comments on: Whose interest rate record is worse?

By: Peter

Peter — Thu, 25 Oct 2007 12:31:30 +0000

You dimwits that swallow everything the media and people like howard tell you are pathetic!
Can anybody exlain to me how “EXACTLY” John Howard has kept interest rates low. The surplas? I think not. Thats just our money that should have been spemt on the supply side to reduce pressures on interest rates. Anything else???
Dont be a sheep.If you dont know economics dont pretend that you do and dont take a politicians word for it ,especially Howard the biggest liar this country has ever seen. Trust me he would sell his own mother for a win.

By: Ingrid Hindell

Ingrid Hindell — Sun, 21 Oct 2007 13:45:56 +0000

I don’t really understand the arguments about the economy.
All I know is that there are people with disabilities living on under $300.00 a week, paying at least a quarter of their income on rent – IF they are lucky enough to live in a office of housing unit, paying $120.00 for a set of wheelchair tyres every three to six months, waiting up to FIVE hours!!! for a wheelchair taxi – IF they can afford one, even at 1/2 price,
not included in the community SOCIALLY because we can’t into our neighbours houses AND we need encourangement to talk to our neighbours, etc. etc.
Me, I’m lucky; I have a husband who earns a little money from home while looking after me. I work too – but it’s unpaid work in the community.
It’s single women with disabilites who are most disadvantaged – we are also 3 times more likely to be physically molested and raped – often by our family “friends”. That’s why we prefer to live isolated, lonely lives sometimes.
We would like a two-tierd pension system.
Surely with the average wage now on about $850.00 a week, and the economy supposedly running so well, this is not too much to ask.

By: peter hindrup

peter hindrup — Tue, 16 Oct 2007 10:14:26 +0000

Governments control interest rates?
Those who believe that ought to have seen Jim Lehrerâ€™s of News hour, SBS, interviewing Alan Greenspan, former Chairman of the US Federal Reserve Board. Greenspan who said that in 2004 they had tried to raise interest rates and the market overrode them, forcing rates even lower.
That is from the man who was in control of the worldâ€™s largest economy!
And Howard and Costello control Australian interest rates?
Dream on.

By: Derek Sheppard

Derek Sheppard — Tue, 16 Oct 2007 10:04:05 +0000

I remember and was affected by almost all the changes in interest rates from 1975 when we purchased our first house in Brisbane at Kelvin Grove until our last house when we last left the property ownership scene in 1999 (mostly because local, State and Federal governments could not understand the benefits of, much less approve, a highly advanced, sustainable, eco-village development, causing it to fall over with a few of us losing out).
I remember the awful interest rates on housing loans, even as a then bank employee, and on credit cards. When we came to sell our first house after making significant and aesthetically sympathetic renovations and improvements to our workers cottage, interest rates were so high, it forced buyers out of the market, and we accepted a low price as a consequence.
I remain completely unconvinced that Labor has the ability to manage the economy. I don’t believe that Swan has the ability or the credentials. I do believe, and it’s borne out by the interest rates analysis that Labor is less interested in interest rates, and more in expensive collective social planning and programs.
I’m unsure about Emmerson. He spruiks theory, and ideology and some of it sounds actually sensible but has hardly the opportunity to put either into practice. He or Tanner would have made better choices as Shadow Treasurer, but perhaps old antipathies or allegiances led to Swan’s appointment.
I think that Labor Leader Rudd has announced so many inquiries and Commissions (a Labor tactic to divert public attention away from the workings and decisions of Labor in Government, despite Commissions and Inquiries, even so called “independent” bodies stacked with Labor friends and allies) because he does not trust or have faith in the experience, knowledge or abilities of his own front bench.
It is far better for people to have their own earned money in their hands to spend as they see fit, rather than in government hands. Governments have far too much cash at their disposal, and in the hands of Labor, as can be seen in Queensland under Labor, money is spent in the wrong areas, especially in burgeoning public services employees. This has an effect on inflationary pressures and interest rates.
With Mr Rudd and family reported to be prepared to pay $5m for a holiday house, he has no idea of issues of housing affordability, interest rates or other cost pressures.

By: Graham Young

Graham Young — Tue, 16 Oct 2007 09:53:02 +0000

Dear JM,
You were asked to put up some facts and the best you can do is say you don’t have to because your comments were “qualitative”. So if there are no facts underlying your post, then there is nothing that can be argued about.
One would have thought your whole contention that governments have no effect on interest rates was blown out the window by all the economists worrying today about whether the federal government’s tax cuts will be inflationary or not.
And as a measure of your transparency I might point out that a set of initials does not constitute a name, and that’s all I have access to, apart from your hotmail address.
You’re just trying to waste time, and that’s what trolls do. But I’m sure readers can work out what’s going on, so it’s not much of a tactic.

By: JM

JM — Tue, 16 Oct 2007 02:25:47 +0000

> A Labor troll
No. I made substantive comments on your post which haven’t responded to. Free speech is a right, but it carries a responsibility with it – to defend your opinion or withdraw it. You haven’t defended, can I assume you withdraw it?
>how droll.
Ahh, patronization, the absolute last refuge of the unthinking.
> put some figures up
Why? My argument is qualitative. Why does it need figures.
> put your real name to the post!
As opposed to what? My real name? You have that, you run your site, read your logs.
Look all BS aside, I expected better of you – an honest argument would be more interesting. If you can’t defend your own statements don’t resort to meaningless insults.

By: Graham

Graham — Mon, 15 Oct 2007 22:15:43 +0000

Benno, I’m not making a comment on Wayne Swan. While he’s the ALP treasury spokesman I don’t have a good idea what he stand for, but I do know what Tanner and Emmerson stand for, and I generally approve.
I’ll be interested to see where our trolls head now that the government is promising tax cuts and being criticised because these are supposed to be inflationary, which of course means higher interest rates. Will they still say that governments have no effect on interest rates?

By: Benno

Benno — Mon, 15 Oct 2007 12:57:25 +0000

quote: “He has some able lieutenants in Tanner and Emmerson…”
Wayne Swan is noticably absent. Graham, please take this opportunity to criticise his economic understanding.

By: Matt

Matt — Mon, 15 Oct 2007 11:33:47 +0000

Graham, it would be nice if commentators such as JM had some type of grasp of basic economics beyond Labor HQ talking points.
The reality is that on any measure the Australian economy’s performance has been extraordinary…u/e at record lows, 16 years of economic growth etc etc etc.
Given the dominance of the Labor Party by former union officials with no understanding of the mechanics of global financial markets and who will invariably put Australia on the path to an outbreak of wage-push inflation the logic of interest-rates being higher under the Labor Party is a legitimate argument to make.

By: Dave Lee

Dave Lee — Mon, 15 Oct 2007 09:41:29 +0000

Ah Graham! Complaining about a supposed Labor troll is a good one when it comes from someone who makes no secret about their membership of the Liberal Party. Try to remember that you’re a pot when describing a kettle.