There is, of course, much more that I should/could write about this subject but, as usual, time and effort.
Have noted that "tintin" Rudd has been doing quite well in Parliament question time. I may be wrong but "teflon" John has lost his smug grin, and is beginning to look somewhat uncomfortable... almost as if he is looking into the mirror, and seeing a younger, smarter version of himself.
Ruddy has been pestering the PM about "the economy" and Howard and his team keep repeating the tired and stale old mantra in reply. "The economy is strong." "Unemployment at all time low." "Interest rates are low." ... etc. etc. ad infinitum.
There is one question that really should be asked.
IF "Workchoices" is as successful as they say,IF everybody has a job, IF wages are as high as they say they are, IF the economy is as strong as they claim ..
Households raised a net $34.4b during the June quarter 2006, up from the $22.9b raised during the March quarter 2006. Households borrowed $21.4b from banks (of which $10.0b was for owner-occupied housing and $5.2b for investment housing) and $13.3b from Financial intermediaries n.e.c., (up $3.4b).
Australians have an insatiable appetite for debt which makes them vulnerable to economic shock. In January, consumers held a record 12.6 million credit cards - almost a million more than a year earlier - with an average debt of $2656 a card.
Worryingly, the age of card holders is getting younger. Cultural monitor AustraliaSCAN reports that 46 per cent of 18- to 25-year-olds have a credit card.
The Financial Counsellors Association of NSW reported in 2003 that more than half of 18- to 24-year-olds interviewed had debts of more than $14,000, with a quarter having debts of more than $20,000.
SMH June 2006
Australians have been living in a Fools Fantasyland if they truly believe that Howard and his team of vapid, vacuous branch managers of "GlobalCorp" have the best interests of Australians at heart.
PS. Have just noticed that Guambat Stew has a better, and wider, post on this issue.