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.