http://www.news.com.au/business/story/0,23636,22717344-462,00.html
for a rise in interest rates.
Quite a wonderful man, apologising for something he didn't do. Pity it wasn't for the stolen generation. Whilst it would be untrue to say the government does not have some influence on the interest rates...the Reserve Bank decides the rates based on the economy. The idea of lowering and rising interest rates is to stabilise the economy - if there is too much consumption the rates rise - thus making borrowing less affordable, and cooling the economy. This is done so that there will not be a situation again of the great depression era where unsustainable growth reaches a massive peak followed by a massive depression.
I get sick of Howard trying to make it like it seems he controls the interest rates. It would be true I think to say he has stabilised government impact on the interest rates by getting rid of most of the government debt. Which makes it even more absurd for him to make claims on his influence on the interest rates because it actually means his government by borrowing less...has less impact on it!
I guess that if Labor does go an do lots of borrowing yes that would increase pressure on the interest rates...but as can be seen, there are a lot of forces outside of Howard's control that influence rates. The whole idea of a reserve bank is because of the need to separate direct control of the economy from the government to protect the interests of the people.
It is quite pathetic to continue in this deception through an apology.
That being said, I guess in a Labor government you will see more pressure on rates...but you'll also see "hopefully" more investment into the community by government.
I guess you have to decide on Howard's belief in the economy or you have to believe in a more social democrat point of view of rudd's. The belief that somehow just because the economy grows, it will "trickle" down to the populace is flawed - big business looks after itself and it's stakeholders - and if it looks good, it'll do somethings to improve public image. But those things are only ever done if it is worth it. It is the responsibility of the government to look after the interests of the people. Unfortunately Labor doesn't really hold onto these ideals either...just look at the "me too" policy.
I did only want to point out the interest rate thing...but I guess it turned into a bit of a rant sorry!
for a rise in interest rates.
Quite a wonderful man, apologising for something he didn't do. Pity it wasn't for the stolen generation. Whilst it would be untrue to say the government does not have some influence on the interest rates...the Reserve Bank decides the rates based on the economy. The idea of lowering and rising interest rates is to stabilise the economy - if there is too much consumption the rates rise - thus making borrowing less affordable, and cooling the economy. This is done so that there will not be a situation again of the great depression era where unsustainable growth reaches a massive peak followed by a massive depression.
I get sick of Howard trying to make it like it seems he controls the interest rates. It would be true I think to say he has stabilised government impact on the interest rates by getting rid of most of the government debt. Which makes it even more absurd for him to make claims on his influence on the interest rates because it actually means his government by borrowing less...has less impact on it!
I guess that if Labor does go an do lots of borrowing yes that would increase pressure on the interest rates...but as can be seen, there are a lot of forces outside of Howard's control that influence rates. The whole idea of a reserve bank is because of the need to separate direct control of the economy from the government to protect the interests of the people.
It is quite pathetic to continue in this deception through an apology.
That being said, I guess in a Labor government you will see more pressure on rates...but you'll also see "hopefully" more investment into the community by government.
I guess you have to decide on Howard's belief in the economy or you have to believe in a more social democrat point of view of rudd's. The belief that somehow just because the economy grows, it will "trickle" down to the populace is flawed - big business looks after itself and it's stakeholders - and if it looks good, it'll do somethings to improve public image. But those things are only ever done if it is worth it. It is the responsibility of the government to look after the interests of the people. Unfortunately Labor doesn't really hold onto these ideals either...just look at the "me too" policy.
I did only want to point out the interest rate thing...but I guess it turned into a bit of a rant sorry!
