SH> what say you cyberspace pundits, i've definitely given
SH> up on the worlds greatest treasurer et al ....

RS> The bulk of those making choices which are reflected in
RS> the economy taking off tho clearly havent.

GC> Gee Rod, at a wild guess I'd just about have to say that
GC> you must be one of the true believers.......you must be
GC> have such faith in the master of porkies.

You have got your brain completely scrambled there. I wasnt saying that
Keating has got it right, I was saying that those who delivered a growth
in business investment of 24%, which is twice what Treasury predicted in
the last budget of 14%, clearly havent 'given up on the worlds greatest
treasurer' or they wouldnt have produced that growth in business investment.

If thats giving up, I dont want to see the economy in a situation where
they havent given up thanks, it will go bang in the most spectacular fashion.

And while I dont think Keating is any great shakes, I think Costello
is quite pathetic, he obviously knows SFA about economics and just
looks a complete fool whenever he opens his mouth on economic stuff.

And its all very well for Howard to howl, the record HE delivered on
the economy when he was running it isnt anything to get too excited
about either. With Hewson as his advisor too.

The fundamental thing that I think most of the voters really cant quite
grasp is that NO ONE really knows very much about controlling the countrys
economy very well. Its quite silly and superficial to be just blaming it
all on Keating. Utterly superficial.

Whats currently being attempted is to dampen down demand BEFORE the
economy goes out of control. The last time around everyone did nothing
for far too long, the economy was totally out of control and had to be
bludgeoned with very extreme interest rates which had the inevitable
result of ruining perfectly good businesses coz there are hardly any
businesses which can be viable if you have significant borrowings at
25% class rates. The current approach is to increase the interest rates
much earlier so you dont get the blowout which will ruin the very good
achievement on low inflation. That hasnt been seen for decades.

Whether it will work or not is another matter entirely. The short story
is that no one knows coz its not been attempted before. But IMO its well
worth attempting. Because low inflation is a very very desirable thing
to have in the economy over decent periods.

--- PQWK202