Crony capitalism, US-style
“[T]he US air Force has devised an ambitious plan to help Boeing, the world's biggest commercial jet producer, sell a version of its latest jumbo military transport to private cargo companies... the C-17 Globemaster... including guaranteed government transport business, a Pentagon promise to buy back C-17s from firms that go bankrupt, and even subsidies up front.” — New York Times, March 22.
Imaginary recession
“I knew that by introducing tax reform we were running the risk that people would opportunistically attack us for every imagined ill.” — Prime Menzies John Howard complaining that the GST is being used as a “convenient whipping boy” for the deteriorating Australian economy.
Nothing to with construction slump
“Competition in the banking sector has resulted in lower housing interest rates than we would otherwise have.” — more drivel from the Prime Menzies.
Praise
A Business Review Weekly survey taken on March 16 showed that most corporate CEOs rated the Coalition as “the best economic manager in a downturn”.
Whereas in the Great Depression...
“During the past 30 years poverty has moved to become a problem for the unemployed rather than the aged, a report has found.” — Daily Telegraph introduction to a report on an Anglicare study showing that 800,000 children are growing up in households in which is no employed person.
