Why do Liberal voters quote Labors 17% interest rates, but not the Liberals 22% when Howard was Treasurer?

Question

Are Liberal people that blind that they forget that under John Howard interest rates were above 22% in the early 80's. An Australian record. Yet they keep knocking Hawke/Keating's record when the Liberals is worse!!!

If he has become the good economical manager that means he has changed, then why can't Labor change? Most of Howards good (questionable) record is due to changes that Labor made under Keating. Even Howard said that in the Debate the other night.

So before you make stupid (couldn't find a more appropriate word) claims and continue to raise the past. Look at the Liberals past. It's worse.

This is an AUSTRALIAN question!

elephant.....check your history books os use your internet. Watch a replay of the debate if you still can't find it. Howard acknowledges it in the debate!
We lost our home to. Gotta get over it sometime. We got another one!
Most people probably did live within their means when they got into debt. But the cost of living is going up much faster than wages, and it is going to get worse with workchoices! Without thousands of people bargaining together, you are negotiating by yourself, you can guarantee wages increases will stop or slow right up. Meaning eventually the cost of living is going to get a lot more people. Working families are going to go the wall in record numbers if Howard gets back in. More people are loosing their homes now than at anytime in our history.

Answer 1

This is the great Liberal myth that they have repeated so endlessly that some of the voters actually believe it. Liberal economics are based on selling off public institutions (that's institutions that you and I have paid for) without public consultation, allowing public infrastructure to run down to the point of stupidity and cutting public service positions down to the bone at every opportunity. They then hide the proceeds of their unauthorized fire-sales and release them on the eve of the election to buy votes in marginal seats, saying look how well managed the economy is that we can afford to give you all this. Where do you think all the money in this surplus comes from? Look no further than the two Telstra public floats and the privatisation of Qantas.

Answer 2

Yes it looks that way even now , just imagine this , what would have happen if Howard was still the treasurer, and the Liberal Party was the only party in office since the since the Whitlam era, Intest rate's would not be the level they are now, they would be very very high, might even be higher than 80% , scary enough just to think about that, if they could they'd abolish the RESERVE BANK BOARD if they could get away with it. While they keep harping about 17% mark, they are trying to hoodwink the Australian public, since Howard has been in office from 1996. add up all the intrest rises since then, not a good picture I'm sure of that , 5 rises since the last election 2004 , rate rise are on the increase while Howard is in denile of them and so is Costello, & Minchin as well Australia needs a new direction ,and not the past

Answer 3

To answer your question, it is quite simple actually.
The 22% rate you quote, and which has been used by RUDD and other ALP clowns is totally wrong in the context implied, and a large distortion of the truth. Under the Fraser / Howard government of the day, the reserve bank was heavily regulated, and interest rates were dealt with in a totally different way to what they are now, and have been since Hawke / Keating deregulated rates and floated the AU$. If anyone is actually interested in the truth of the matter, you will find that during 1982 the economy was growing at record rates for the time, we were in the middle of what was at the time a drought that was as severe as that which we are now in, the world economy in general was a mess, AND THE MOST IMPORTANT PART OF THIS IS THE HOME LOAN MORTGAGE RATE, this benchmark got as high as 14%, a direct comparison to the 17% home loan mortgage rate acheived under Keatings "recession that we had to have". With the differential between the average mortgage in 1982 at 14% under Howard as treasurer, and the much larger average mortgage in the late 80's under the Labour government at 17% - it is quite right for the Liberal party to maintain that there record on interest rates THAT COUNT TO THE AVERAGE AUSTRALIAN is far better than the Labour Party. Current home loan rates in Australia under the Howard / Costello government are still well below what they would be under a return to a Labour / RUDD anti business investment, anti employment, higher welfare cost disaster.

Answer 4

I don't remember those interest rate figures but i do remember losing our land at over 17% under labor, there may have 5 rises in 2 years but they are still low , if you can't live to your means get a financial advisor to help

Answer 5

i would be hiding my head in the sand to nearly a 30% rise on labors worst and if you believe unemployment is just over 4% we really must have a chat about some nice land i have for sale

Answer 6

Because they can't handle the truth.
Our "great economic manager" has finally admitted that he broke his electoral promise regarding interest rates. Dur!

Answer 7

Its called short term memory loss but I remember very well and I also remember Paul Keating digging us out of the economic abyss and setting our country on the road to prosperity.

Answer 8

Ah, you've been having fun watching Keating out on the campaign trail!

I have been enjoying it, too. Now, if we can those boys on The Chaser involved...

Cheers.

Answer 9

Howard doesn't want to make his government look worse than what it already is.

Answer 10

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