Tuesday 25th of June 2024

modern economics explained .....

From the ABC …..

Costello plays down 'line-ball' rate hike

Federal Treasurer Peter Costello says today's interest rate hike is
a line-ball decision.

Mr Costello agrees, saying the standard variable rate is likely to be around
7.5 per cent.

"People will be paying more in relation to their mortgage and that will
have a dampening affect in relation to the economy," he said. 

But he says many Australians will
have rates lower than 7.5 per cent "because they're able to negotiate


He's kidding of course...

"Lineball is the game we (US
citizens) sometimes played as kids when we only had two players - a
pitcher and a batter. Hits were obtained by hitting the ball over lines of
varying distances drawn on the ground. Runs were scored when invisible men
were forced across the plate. And of course, little or no defense was

er... Invisible players?

Sound familiar?

Negotiate with your bank? Lovely

More flim-flam

On a day when the Tories take the fight up to the Greens -
Govt uses website to boost anti-whaling efforts

and Costello is busily talking up Jeff Kennett to run Victoria again, I think I might just exercise my option to negotiate with a bank. 

That interest rate will rise again - after Costello does his Budget stunt. 

There's a definite possibility Kim Beazley will make a solemn promise that Labor will keep the rate under 5%.

Sure... flim-flam

But the word on the street, via the common man, is that Costello does not like Jeff very much to the point that there could be unwritten instructions to departments of the government not to give any money to Jeff's baby Beyond Blue... But you know what rumours are,,, just a bag of hot air...