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[There is] more than enough time for Krudd and his inex­per­i­enced team to slip up a dozen times. Wayne Swan will make a joke of him­self at budget time he is the biggest dunce the Labor Party has ever seen and he thinks he can run a tril­lion dol­lar economy!!

I think this pretty much sums up a broad view of the Liberal/National coali­tion and their sup­port­ers. It also indic­at­ive of major weak­nesses on that side of polit­ics: incon­sist­ency and intel­lec­tual cow­ardice. Howard, Cos­tello and co. are not the mas­ter­ful eco­nomic man­agers they they’ve fooled them­selves and their elect­or­ate into believing.

Firstly, the fact that they’d even refer to it as “run­ning an eco­nomy” and “man­aging an eco­nomy” (as Joe Hockey did on Lateline) shows just how illiberal they truly are. Demand man­age­ment is a main­stay of Keyne­sian eco­nom­ics. The great dries of the party would rather take it up the bum from crazy-haired hip­pies than have any­thing to do with Keynes. It is simply not kosher. The truth is, even in an eco­nomy as pad­ded as Australia’s, it has a tend­ency to run itself. That is as it should be. The gov­ern­ment is on auto-pilot, and makes a few changes at the mar­gin every now and then.

Instead, they’ve painted an image of Howard/Costello uni­formed up, guid­ing it, dir­ect­ing it, in a way only the the all-knowing fath­ers of the nation would. Pre­sum­ably, Labor, if given the treas­ury benches would delib­er­ately fuck up the eco­nomy out of spite.

Bey­ond their fal­la­cious grasp of the role of the fed­eral gov­ern­ment, Howard/Costello have com­mit­ted some grave sins in the name of lib­er­al­ism, most not­ably, their com­mit­ment to tax­ing and spend­ing (some­thing much to the chag­rin of Cos­tello, as revealed in July). The cur­rent gov­ern­ment is the highest tax­ing, highest spend­ing gov­ern­ment in his­tory. The size of the fed­eral gov­ern­ment, as a pro­por­tion of GDP has been higher under this admin­is­tra­tion than any that pre­ceded it. Yes even Whitlam’s! How have they done it? Not through the social­isa­tion of the means of pro­duc­tion. Mr Chif­ley tried that, but our con­sti­tu­tion doesn’t allow it. Nope. What Howard/Costello have done is become the great re-distributors

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of income. They, tax, levy, charge, fee, big busi­nesses, small busi­nesses, single-income earners, the poor, the eld­erly, the self-reliant, and plen­ti­ful sup­ply it to the one group that be bought more eas­ily than a crack­whore: Sub­urban fam­il­ies with chil­dren (and their dop­pel­gang­ers, the couple thinkingabout-notreally-maybe want­ing to have kids).

Howard is undoubtedly aware of all these weak­nesses. And he knows the attacks on Labor’s eco­nomic abil­ity are ground­less inas­much as he acknow­ledged Hawke/Keating’s role in open­ing up Australia’s eco­nomy in The Longest Dec­ade

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He again acknow­ledged struc­tural changes to the eco­nomy made by the Hawke and Keat­ing gov­ern­ments, say­ing the present strength of the eco­nomy owed much to the reforms made in the past 25 years. 

The level of eco­nomic debate and edu­ca­tion in Aus­tralia over the past dec­ade has taken a bat­ter­ing — a delib­er­ate ploy by the gov­ern­ment to enable the trivi­al­isa­tion of eco­nom­ics as noth­ing more than the price of pet­rol and the level of interest rates.The Big Lebow­ski ipod