-=> Rod Speed wrote to Graham Comitti <=- 
-=> On 02-14-95 about dow V all ords <=-

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

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

I think the records show that real interest rates were much lower when 
Howard was treasurer.

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

Paul has been telling us for years he controls the leavers and the RBA, 
and he's been treasurer or PM for most the past 13 years....so who else 
should we blame for the mess.....the Deficit dialeks?.......

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

Ok I agree, but why is this so,......part of the problem is Pauls big 
spending (give-a-ways etc to buy votes/popularity?) since hes been PM 
has only worsened our problems, he can't go on spending money like he 
has and must CUT his spending.... like a household that spends too much 
on bankcard, spending has to be cut and the overdraft repaid until its 
under control.   

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

Lets hope it does help, but its only band aid treatment.......Paul stop 
spending our money that you (we) haven't got, and make sure the money 
you do spend is spend on real jobs etc...not given to arty trendies to 
do a bit of painting etc...



Regards, Graham from Sunbury

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