Swan implements Turnbulls's policy. Yes, the Australian government will buy home mortgages - an amazing backflip involving $4b. OK, so no-one really knows what they are doing in the current volatile situation but sometimes the low-brows in the government's benches might consider opposition suggestions.
Anyway imitation is the sincerest form of flattery. After criticising Turnbull's pronouncements Swan is doing exactly what Turnbull suggested - to buy mortgages in order to increase competition in the mortgage market.
Friday, September 26, 2008
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6 comments:
Harry, you don't really think that Swan is copying Turnbull, do you? This thing would have been in train long before Turnbull said anything. All sorts of people would have had to be lined up.
And did see the reaction from the Australian Bankers' Association, representing the big banks? "The government is taking a big risk, they said". There's nothing quite like an industry association defending their member's interests! (Meanwhile, the public interest can go to buggery.)
Thee plan was already under discussion when Turnbull raised it. Why not discuss it? Why ridicule Turnbull for raising it - 'undermining the Australian economy', 'not the same sub-prime debt here' etc etc? Or is the truth that the Treasurer didn't understand what was going on.
The trenchant criticisms by Rudd and Swan of Turnbull were made only a few days ago.
"Why ridicule Turnbull for raising it"
Is the answer to this, because they can and 99% of the population won't know any better? It's good politics from Krudd & co.
This is in response to this post and the previous one, "Malcolm Turnbull".
There is a complete disconnection between what politicians say in public and how the policy is actually enacted.
I think, essentially, the policy and its implementation, which is often fluid and reactive to circumstances, and can often run counter to policy pronouncements or promises made beforehand, is decided by "experts" in the bureaucracy. Then, the policy and actions are digested by the political staff spin doctors who extract any political advantage, or minimise damage, as the case may be, write the script and brief the figurehead, and you then have a "leader" in action. In the case of Ronald Reagan and GW Bush, they would have had to bring in experts in early childhood education as well.
These talkfests are just so moronic. I just watched the "debate" between Obama and McCain. Purleeze...
I think the last leaders to make policy and strategy decisions themselves and on the fly were Comrade Stalin (though he took a a back seat from 1942 to 1945), Adolf Hitler, and Chairman Mao, with his Great Leap Forward.
So, perhaps this modus operandi is not such a bad thing. But let us not jerk off thinking these guys are making policy. They just sell it to us.
Ultimately, if you are looking for people to blame, blame Harry Clarke. He supervises the PhD theses of future economic policy bureaucrats. And that is why we are in such poop now.
You have a lot to answer for, Harry. What? You didn't know it was loaded?
Sir Henry, Don't point that thing at me.
Debate can be tough in the Parliament but this was an opportunity lost.
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