First, just in case you notice some changes in format here. I am now posting via Chrome, as Microsoft Edge in my Windows 10 no longer displays the log-on box from WordPress.com. There are also issues, I suspect, with Facebook chat — where a cousin of mine noted that Edge is only good for downloading a better browser!
OK, last night on 7.30 we were reminded that it is ten years since the Global Financial Crisis, to which our then Labor government responded — comparatively — quite brilliantly. See Inside Australia’s GFC response: Government wargamed financial disaster scenarios.
So I looked back to my blog for September 2008.
Self-portrait?22 SEPT 2008
Interpret this as you will! 🙂
Strange things in the boot of Malcolm Turnbull’s limo…28 SEPT 2008
Consider Eric Abetz. Now here is a man who knows left-wing bias when he sees it: any lack of resemblance to Quadrant or deviation from the Australian Christian Lobby is clearly a Communist Plot. Now he wants Q&A “regulated” — not just the show, but the audience — despite the good showing his new leader made there last week, and despite the fact that, much as I hate to admit it, Q&A actually made me warm a little towards Julie Bishop!
SENIOR Liberal Eric Abetz believes the ABC TV political talk show Q&A has failed in its attempt to provide a representative cross-section of the community because the audience was overwhelmingly made up of Labor and Greens voters.
The figures, provided to a Senate committee, show that for seven episodes there were on average double the number of Labor and Greens supporters in the audience as Coalition supporters.
In some episodes, Coalition supporters made up as little as 10 per cent of the audience, with an average of 20 per cent. Labor and the Greens accounted for as much as 54 per cent of the audience, which participates, with an average of 50 per cent.
Senator Abetz said: “The ABC has to immediately rectify these figures for the remaining episodes of Q&A this season.”…
Just when some were thinking, or Malcolm Turnbull was having us believe, that this creepy Howardism was dying Eric lands feet first with his hobnailed boots firmly on our faces. Thanks for reminding us why we wanted the Howard government to go, Eric! Well done. We will be very careful to scrutinise the blandishments of Malcolm Turnbull from this moment on…
Turnbull triumphans, Wall Street requiem17 SEPT 2008
To take the parochial first, Malcolm Turnbull is now the Leader of the Opposition here in Oz, around three months later than I expected he would be. As the Sydney Morning Herald notes, Now Rudd has a contest. Sure, Turnbull has an ego the size of Jessie the elephant — who lived incidentally in the old Sydney Zoo where Sydney Girls High now is. But then, Disraeli was hardly a shrinking violet, to cite a 19th century English Conservative in comparison. The Rudd government had better perform now, difficult as that will be with an Opposition scenting blood and still playing spoiler. I know that’s politics, but I really wish they could do better than that. One of the best things that could happen for the sake of the country would be for people like Nick Minchin and Tony Abbott to go completely out of fashion. Their approach to politics damages the rest of us. They think it is about winning a game; I think it should be about winning respect and caring for the country. However, the rise of Turnbull does put an intelligent, capable person in the position of alternative Prime Minister, and that has to be an advance. One hopes the Liberal Party moves right away from the narrow, anal, and even at times quite evil, legacy of John Howard.
Annabel Crabb in the Herald this morning did amuse me with this though:
Accounts of the Turnbull ego do differ across the broad church of the Liberal Party.
Some argue it is Milky Way-sized, while his intimate admirers and defenders (whose ranks are fast swelling with opportunists) argue it could probably be squeezed into Wembley Stadium.
The chances of him finding anything about yesterday genuinely humbling, however, are about as good as Zimbabwe’s new power-sharing agreement panning out well.
Now for Wall Street. I could go into cliche mode about the wickedness of capitalism and the sin of greed, but while I may have such thoughts anything I would have to offer would be utterly banal. So I turn to a couple of people much better informed than I am. First, here in Oz, there is Ross Gittins: Worrying only makes things worse.
One good thing about our modern problem of information overload is that, no matter how bad the news, we never focus on it for long. Another day, another crisis. The end of the world is so last week.
I came to that conclusion in the aftermath of the great Wall Street sharemarket crash of October 1987. It was hugely dramatic and quite frightening. And just because most people don’t know what these things prove, doesn’t stop them concluding they must be Very Bad. Sometimes I think the less you understand, the more dire the conclusions you draw. Just to help things along, the media carried pundits predicting that, as in 1929, the great crash would precipitate another great depression (thereby revealing their towering ignorance of the true causes of the Great Depression).
Always one to react against predictions of death and destruction, I limited myself to saying it made a world recession likely. Wrong. In the end it had hardly any noticeable effect on any economy. I had figured that the scare it gave would prompt people around the world to pull in their heads and thereby bring on a downturn. But I reckoned without the media’s ever-shrinking attention span. After a week or so the crash that was going to end it all hardly rated another mention. The punters soon forgot about it…
Second, in the USA I suggest John Taplin. That links to his September 2008 entries….