The latest weekly Essential Research poll has Labor’s lead steady at 62-38. Also included are an interesting question on what Peter Costello should do (34 per cent quit, 46 per stay in various possible capacities), along with very detailed material on economic management. Not only but also:
• A comprehensively briefed Andrew Landeryou at VexNews explains the background to the Victorian Liberal Senate preselection vote to be held this Friday. Michael Ronaldson seems assured of retaining his top position, but Julian McGauran faces an uphill battle for third place against Ross Fox, a Peter Costello backer. The second place is reserved for the Nationals.
• Phillip Coorey of the Sydney Morning Herald reports on a NSW Liberal state executive ruling that new members in Bradfield will not be eligible to vote in the preselection to replace Brendan Nelson, to be held in nine months. Normally party rules require membership for six months for eligibility, but that would be an invitation to mass branch stacking in the current circumstances. Coorey also weighs in on recent shenanigans in the Perth seat of Tangney.
• Tasmanian LHMWU secretary David O’Byrne has confirmed he will seek preselection as a candidate for Franklin at next year’s state election. O’Byrne is a former state party president and brother of Bass MP Michelle O’Byrne. Among the Liberal candidates will be Vanessa Goodwin, who narrowly failed to defeat the now-departed Paula Wreidt at the 2006 election.
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AHHH HEAVEN
Bank of England cuts rates by 50 basis points to 0.5%.
Would it encourage spending if they paid people interest to borrow, and charge interest on savings?
I’m aware of that. There’s another round next year as well. That’s a legacy of the Howard vote buying strategy and Rudd had little option but to sign on.
I respect the fact that Rudd will honor the tax cut commitment but I’d like to see an end to tax cuts being used as the panacea to all of the financial ills in business and society.
beep, beep, beep…. meanwhile back at the ranch…… GM is on the brink
http://www.reuters.com/article/marketsNews/idUSN0531966920090305
Check these two spivs on Lateline
Me too. That’s one of my major reasons why I can’t stand the Liberals, whatever the circumstance is they think you can sold problems by cutting taxes and cutting the pay and conditions of low skilled workers. It’s the Republican Party policy imported to Australia.
Spiv #2…”the banks probably lent too much”
Just let it collapse I say. The U.S. government may be able to save 2 car markers, but 3, I doubt it.
Are these 2 Malcolm’s mates
Turnbull knows zilch about the economy without Costello giving him advice.
Costello knows zilch about the economy without Treasury giving him advice.
He demonstrated this tonight on Q&A when he didn’t understand that savings is simply deferred spending.
Oh really? The Costello Memoirs has sold over 40,000 copies, making it one of the all-time best sellers for political books.
Unfortunately it is boring as hell to read. He blames all the mistakes of the Howard government on John Howard, and takes credit for anything that was popular.
Did anyone read Mark Latham’s article in the AFR yesterday? It was excellent. It was about Rudd using media spin to show off economic credentials he doesn’t have.
Look who it is! Keating thinks stimulus is not effective:
http://abc.com.au/news/stories/2009/03/05/2508723.htm
Is Keating still Rudd’s secret economic adviser?
Latham probably has better numbers to take the Lib leadership at the moment
the numbers to take the Lib leadership
No 1414
I found it interesting. I thought Van Onselen’s biography of John Howard was better written, however.
What, like Costello declaring last year that we had reached the bottom of the GFC? He’s an economic dunce.
Not to mention Hawke/Keating have a long list of economic reforms, during global recessions (again, not to mention, having guided us out of the late 70s/early 80s one). What do Howard/Costello have? NoChoices and a consumption tax. Whoop de doo.
Glen, that’s one of the smartest observations you’ve ever made. Costello is all about ego. For 11 years he couldn’t have the top job despite agreements by Howard to hand it over to him, and now that Howard is gone, Costello would rather have everyone lavish praise on him like they used to do to Howard. He doesn’t want the leadership and the realities to sink in like they did/have for Brenda and Turnbull. His ego is too big for that. He’d much rather remain where he is, seen by all in his party as the messiah.
I no I shouldn’t read horror stories before bed…but the 4th horseman of the apocalypse Roubini always tells a good story.
SNIP: See article 2 of comment moderation guidelines – The Management.
Abandon hope, all ye who enter here -
http://www.forbes.com/2009/03/04/global-recession-insolvent-opinions-columnists-roubini-economy.html
Paul Keating article makes RealClearMarkets list of stories today.
Via the Financial Times
http://www.ft.com/cms/s/0/e9184e8c-08ef-11de-b8b0-0000779fd2ac.html?nclick_check=1
http://www.realclearmarkets.com/
Media still might want to ask the Liberal party where is the $392 billion it had come through its hands gone.
Better balance the horror story with some hope stories.
The Recession Will End…
http://www.fundmasteryblog.com/2009/03/04/the-recession-will-end/
NY Fed’s Model Predicts End of Recession in 2009
http://mjperry.blogspot.com/2009/03/ny-feds-model-predicts-end-of-recession.html
cossie’s not going to retire at the next election, he’s got his baton half out of his backpack, i guess we’ll be seeing him as the ABC’s poster boy on their front page instead of Turnbull in the future.
http://abc.com.au/news/stories/2009/03/06/2508812.htm
Immature spoilt brat was Costello’s Q and A persona, they are not the qualities of a leader. I think Costello’s baton is still firmly in his backpack, he is enjoying Turnbulls destruction yet has no intention of being leader.
I was left with the impression that Tanner was the only person on the panel with more than two brain cells to rub together, I admired the guy, surrounded by morons and he kept his cool.
As for the show itself, it was serious issue and it was turned into a farce.
did you see the part where Cossie snarled when he was cut off from his rant?
Bree mumbled
Keating actually thinks all the stimulus’s, including the one being handed out by the USA will not be effective. He is suggesting a much stronger role for the G20. It was not an attack on Rudd.
Judith I used to respect the guy, I didn’t watch the destruction of his credibility too closely, to think I once argued with my wife that he was ok, she could never stand him and she was right.
fredn, i think we all go through times when we take our pollies on face value and see them as we want them to be, i had a time when i thought Latham was the answer to labor’s probs and where i was wary of Gillard, it was only when Gillard came into her responsabilitys and grew with it all that i changed my mind, she’s proved her mettle over and over and yet Latham proved to be a clay idol.
I think I’ve worked it out! Bree writes the headlines for ABC News Online.
Wall St drops another 4% to a new 12 year low. Citibank and GM look in awful trouble.
http://www.theaustralian.news.com.au/business/story/0,28124,25146520-643,00.html
Why is there a picture of Costello on the front page of the ABC news site shoing us the length of his ‘manhood’?
Tom
showing, not shoing
Rann has worked out that the Rudd-Wong deal on the MDB is a piece of junk cobbled together to keep everyone happy and deliver nothing, which seems to be a trademark of Wong’s policies. I don’t often agree with Rann but I think he’s got it right this time. The fact that it’s got up the noses of eastern state pundits so much shows it was the right thing to do.
http://www.theaustralian.news.com.au/story/0,25197,25145767-601,00.html
Sorry William, I could not help myself, the opportunity was a begging
ABC bias: yesterday Fran Kelly had Swan on, today she had Hockey. Hockey got less time, and was given a much rougher ride. She was deferential to Swan, but talked over the top of Hockey. The 8am news which followed led with a negative story about Costello destabilising Turnbull, based on his Q&A appearance last night – ie, on speculation. Sounds like the same old ABC to me, bless ‘em.
Do you have a link?
http://blogs.smh.com.au/entertainment/archives/undercover/020279.html
1440, ‘Keating: The Inside Story’ was up until about 2 weeks ago, the only Aussie political bio I’ve ever purchased. A few weeks ago, I purchased a Curtin biography. When someone turns up better than those two men, I will purchase their bio
Adam
I still feel dirty after watching last night’s QANDA Cossie LoveFest. I’m more convinced than ever that Cossie will end up leading the Libs. The speculation is fair enough as he keeps feeding it. Turnbull must be really pissed off.
At least Tony Jones’ dislike of Cossie was palpable. He really hates him.
Grog 1440,
Well exposed. Spot the Fiberal.
Nevertheless, a pro-Liberal broadcaster would not have led with that story.
I am disappointed in myself. I actually felt sorry for Malcolm this am – he looked awful in the piccies we saw on telly this am. Costello must be getting to him.
Speaking of which, he was awful last night. How sick are we of hearing he was Treasurer for 12 years and that he singlehandedly saved Australia, yakkety yak, yak, yak. Seems the old fella is mightily jealous of Ruddie, too.
He didn’t like it when Sally from The Monthly said that he benefitted from good things done by Hawke and Keating. The mouth set hard into his forced smile and the coldness oozed from the eyes.
For goodness put up or shut up, Costello.
How good is Lindsay Tanner with the quick quip – left Costello for dead.
I agree Adam – a big change this morning with Fran Kelly. She must be sick of hearing Hockey’s ridiculous spiel.
Craig Emerson was excellent and seems to be a good Minister for Small Business – we need that badly at the moment.
BH @ 1446,
50 lashes with a wet noodle and into the corner with you
……. don’t get sucked in by any of them 
I missed QandA but I think Costello was foolish debating tanner – all the times I have heard Tanner speak on economics he obviously is intelligent and convincing on the topic in a way that Costello will never be without treasury speaking notes.
As for the economy, I don’t doubt TP and others concerns about Citibank (dead) GM (dying) and a few others. However, at this point I wish they woudl just bite the bullet and nationalise or kill them. They can’t recover so its better to get it over with and start trying to find new jobs for the people concerned.
I am also more optimistic in the medium term for some recovery. Economists always project the future based on the past. When the past is good they are over optimistic. When the past is bad (recent past terrible) theya re over pessimistic.
That being said, I hope someone in Canberra is working out what to do with Holden if GM go under. When Lehamns collapsed they ransacked their British subsidiary of cash just before hand. I fear GM could be tempted to do the same.
Banks failing is one thing – no-one likes banks. But no US government could let GM go broke, it’s a national icon. It’s hard to conceive of nationalisation in the US, but if the alternative is GM going bust that’s what they’ll do. More likely though is some fudge involving mergers, rationalisation, more government handouts and maybe foreign equity.
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