Saturday 27th of April 2024
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the smell of burning bacon ....

the smell of burning bacon ....

from Crikey ….. 

Reality check: Honey, I doomed the universe 

Richard Farmer writes: 

A casual reader might think this story which heads the most read list on the website of The West Australian this morning was a confession to Janette by John for the Prime Minister does seem to have the kiss of death about him.  

Everything that can go wrong with the John Howard election campaign is going wrong so it would not be surprising to learn that the astronomers who may have unwittingly hastened the end of the universe by simply looking at it were using a Liberal Party telescope. Public interest in the federal election continues to grow as polling day approaches but that interest has coincided with a rash of bad news stories for the Coalition. 

In the Crikey Daily Reality Check of what is being read on internet news sites, 19 of the top 50 stories were about the election. Of that 19 only two were in any way favourable to the Government's re-election bid. Topping the list with seven appearances was the Liberal Party embarrassment over one of its campaign teams being caught delivering fake letters linking Labor with the Bali bombers. The story fitted in nicely with all the references to dirty tricks campaigns that Labor Leader Kevin Rudd has made in recent weeks.  

So too did the three stories about the rescue of the latest load of boat people. Children overboard might have worked at the time but reviving memories of that great lie from the past was not what Mr Howard wanted as he set about telling people that changing the government would change the country.  

Changing the country might just be what people want as they contemplate Paul Keating's advice in the Sydney Morning Herald this morning that: 

... the principal reason the public should take the opportunity to kill off the Howard Government has less to do with broken promises on interest rates or even its draconian WorkChoices industrial laws, and everything to do with restoring a moral basis to our public life." 

That Keating article also made the best read list along with another article criticising the Howard record.

Stone upturned...

Step-in Stone takes aim at Rudd

Former Chief Minister and Liberal Party heavyweight Shane Stone has issued an open letter in the final days of the election campaign arguing that Labor is too big a risk to the economy.

In the letter, sent to the media today, Mr Stone warns voters that there's a one in three chance of a global growth recession next year. He says he takes such warnings seriously, and that a vote for Labor would be a threat to a strong economy.

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Gus: "Very rude of Mr Shane Stone to step on Mr Rudd's toes..." Try saying this, while sober!...  Thanks, Mr Stone, for your biased advice, but no.

Now is the time more than ever for Labor to step in, and manage with greater people care and vision what Australian richness the Liberal Howard Government has squandered and blown into the private wind. It's not going to be easy, sure. Global growth will take a little plunge, next years? Most likely... And who would be better managers when the going gets tough? The Labor Party!... The Liberal Party is the party of fair-weather sailing and dirty tricks around the racing buoys... Big L Liberals tend to blame everyone else but themselves for a sinking ship. They're so good... especially in the clubhouse!...

The US has been fiddling with its d..ollar. Long history of wars, deficit, etc...

But also far too many shonks have been allowed to operate without any control, and to top it off, they have operated with the blessing of the banks that were hopeful to make a motza — on risks beyond their small brains. Typical of Liberal laisser-faire free market — gluttons as long as the US Fed Bank gives more to gorge on, when the weather becomes a bit stormy or the trough becomes a bit empty.

Now the banks, writing off big losses left right and centre, worldwide, have to rescue their profits by raising the income from their other average lendings... Some of the most exposed banks need to be rescued by other banks, or the Bank of England....

As our Lame Primus ask them for restraint and "leniency" (as if he thought a light recommendation would do), the banks are soon (if not yesterday) going to hit us with mortgage rate increases higher than the Reserve Bank increase of interest rate... That's what usury/lending is... When people are in debt to the eyeballs, hit them with a kick in the gut to make sure they work harder for you... All you have to do is shake them upside down from time time and the left over cash falls out of their pocket. Collect.

No, thanks, Mr Stone... We can do better than that. For many, the nightmare of a "strong economy" while being kicked in the guts has to stop. As Ms Crabb says in the SMH, the wheel is turning, but the hamster is dead..."

Not quite yet... A miracle could still occur and save Howard's skin. Let's pray a miracle does not happen... Still, there are some cheeky people out there, already selling the bear skin (or its abode) while the bear has not been shot yet...

Get rid of Howard and his sad band of non-merry men...

A rattus record?

Home loan affordability hits 20-year low

By finance reporter Adrian Thirsk
ABC


The REIA says a further negative impact is likely in the December quarter

The Real Estate Institute of Australia (REIA) says home loan affordability is the lowest it has been in more than 20 years.

Its September quarter measure of affordability shows that 36.6 per cent of family income is needed to meet average home loan repayments.

That is the worst outcome since the REIA started publishing affordability figures 22 years ago.

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Gus: not good.

Banish Howard into retirement.