i guess i just don't understand!

Hello,

I keep reading references to the interest rate rise to 18% under Keating's Labour government with the implication (and in many cases the claim) being that Labour mismanaged the economy then .... that Howard's Liberal government has resurrected it ... and that Labour if elected would wreck it again - just like Keating did!

I'm obviously stupid. I've always thought it was Paul Volker who did what had to be done by raising US rates in 1980/1. And since then, as now, America was the main driver of the world economy, others were forced to follow.

In my addled mind, I'm not suggesting that the Keating gov raised the rates only because they were forced to follow the American's move.

Stupidly, I 've believed for many years that it was the sensible (and necessary) course to take to prevent complete financial disaster.

Mistakenly, I hold the view that Ruben/Carter, Greenspan/Carter and Greenspan/Bush have taken the USA and therefore the whole world into the realms of financial hell.

Again, to my poor mind, Australia is going to be in big trouble in the years to come irrespective of who is 'in charge' here. But we won't be alone - I think all but the poorest nations will be in the same boat.

BWDIK.

I guess I just don't understand.

bye.dub

....and the spelling of Labour is for Ridge.