Sunday, 11 December 2016

Politicalisation of the public service and a complete waste of money.

Ross Gittins has a grest article on how the Liberalas love to politicise the public service. He does not emphasize how this started with Howard. He sacked a lot of department heads. In one truly stand out case of incompetence they sacked the wrong person!

Neither Hawke nor Rudd did this.

What brought this to a head was some imbecile actually paid money to Tony Makin a fifth rate academic to write about Australia's policy in fighting the GFC.
I wrote about Makin's pathetic attempts previously.

There is no way Treasury would have authorized this given the demolition they did of Makin's Mineral council's paper. ( Another hint is where it is found as well.)

Somehow Makin did not even understand he said China's stimulus worked bit ours didn't.
He also didn't see the currency falling and then rising as commodity prices did the same thing. I am also wondering how come the MF theory only affected us and not the 18 other countries that had fiscal stimulus.

He also will probably forget the IMF and OECD have found fiscal multipliers were higher then previously assumed. Posen for example showed in Japn in the 90s when fiscal polisy was expansionary the economy rose when it was contractionary the economy fell. fiscal policy was infact quite potent.
Makin and his trumpian lot simply ignore the data and like the bourbons  learned nothing and forgotten nothing.

This was a complete and utter waste of money.