Sunday, November 25, 2007

The fallout

I can’t stray too far from economics, especially since the now former treasurer, anointed next Liberal leader, has stepped away from the opportunity to lead a dead party.

Peter Costello says he ''would not seek nor accept'' a nomination to be the new opposition leader and instead would step away from politics for a business career.

I don’t blame him, only his timing. I said some months ago that if he was smart Costello would leave parliament and take up a plumb posting. Among those mentioned was an appointment to the board of the Bank of England. That is a plumb.

But like Howard he hung in. Plumb appointments now depend on how far the real economists spread their message: Rubbish leaders spread

“If John Howard and Peter Costello lose today's election, let's hope we see an end to the economic half-truths and illiteracies they've been spreading for the past decade.”

The article is worth a read, even if you don’t really understand economics. I’ve talked many of these issues before, albeit as a virtual economic illiterate. I guess I’m pleased some of the things I’ve raised are being confirmed.

As for Peter, well I didn’t believe he would become Prime Minister, but I hope he finds a niche in the corporate world. Unfortunately the next in line for leader of the Libs is a former merchant banker who wants to sell the country wholesale.

Again I am pleased that the Greens will hold the balance in the Senate. There is a slim margin between disaster and disaster without that.


Praguetwin said...

Great article. I'm afraid the U.S. is on the other side of that coin. Still running $250B annual deficits despite 5 years of strong growth.

enigma4ever said...

US is on the other side of that argument and not admitting it....that is the worse part....Cart- congratulations on your elections...wonderful...that you all booted Howard...excellent...

D.K. Raed said...

off-topic: husband just exclaimed, so Australia gets Rudd the Pud?!? ... well, maybe you gotta be from brooklyn to get it ...

Cartledge said...

PT, Gittins is really starting to pump out some instructive articles of late. Perhaps not needing to suck up to the conservatives has free his ability to comment.

enigma Thanks, seems like its been a long battle. Now we start on the new bloke and try and get some honesty into the system. (dream on...)

d.k. We've had Ruddbot - Ruddslide among others. Rudd the pud works for me.