Interest rates rises are good for you

Interest rates rose today, by 0.25%. And since this is an election campaign, Peter Costello has to jump in and tell us this is a good thing. Or, ate least, that rising interest rates are a sign of good economic management.


Well, if everything is so good (as the Labor party ads keep reminding us, according to John Howard we've never had it so good) then maybe Peter Costello and John Howard can pay my mortgage for me. That'd be nice!

And anyway, if rising interest rates are a sign of good economic management, what did they mean when they promised to keep rates at record lows during the last election? Does that mean Howard and Costello were promising to give us bad economic management?

These guys really need to pick a line and stick to it. At the rate they're backflipping at the moment they'd outperform most circus acrobats!

Thanks, John Howard!

(Of course, I know the government doesn't directly control interest rates. But when they claim low rates as their responsibility but try to dodge the blame for higher rates, then they deserve everything they get! I really really hope they get voted out)