Black or white or just grey?

Joe Hockey’s bizarre comments receive some sort of rebuttal from the Treasurer but it is more than a little like the pot calling the kettle black. Both men are way out of their depth and represent appalling appointments by their respective parties. Still that may just represent the quality of modern parliaments in Australia. It may be that Liberal Party research tells them that interest rates have a make or break quality.

Much more important is that they recognise the damage of persistent high borrowings by the federal government. That hundred million a day continues to pile up, remorselessly, even if no-one in Canberra shows any remorse. Thus the national disgrace deepens. And all in the service of electoral auctions and intellectual delusion per Keynes. And so it goes . . . for the time being.

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