In analysing the Australian economy, does former Treasurer Peter Costello really think that:
- "If the journey [towards higher debt] keeps continuing at the rate in the years ahead that it did in the last three or four years it won't be too long before we start experiencing European-type problems.”
Or is it that in pretending Australia has “a mountain of debt” Mr Costello is simply playing politics?
It is fair enough if Mr Costello is simply playing politics and trying to make a few cheap points, however misplaced they were. But it should be seen for what it is. It is very difficult, if not impossible, to find anyone outside the Coalition Parties who have such a view on Australia. If anyone reading this knows of any analyst anywhere in the world who shares Mr Costello’s view that Australia is close to experiencing European-type debt problems, please let me know.
Which brings me to Mr Costello’s appearance on 730 last night.
Mr Costello suggests the search for a new Chairperson for the Future Fund was “a shemozzle” that hurt the reputation of the Future Fund, whatever that means.
Does Mr Costello really think this or is he again just playing politics as he did with his fairies-in-the-bottom-of-the-garden analysis of Australia’s debt position? Or is there an element of sour grapes from him that he was not chosen for the Future Fund role?