I can’t help but feel sorry for Wayne Swan today. He is the one Labor politician who couldn’t avoid the limelight and had to try to explain away another interest rate rise…he did not look in the least bit comfortable.
Perhaps now I understand federal Labor’s obsession with the emissions trading scheme. Wayne Swan is on-record as saying that traffic jams cause inflation, so perhaps he is hoping that an ETS will reduce the number of cars on the road, thereby reducing the number and severity of traffic jams, thereby cutting back on inflation and, as a result, interest rate rises and his subsequent uncomfortable press conferences.
It’s an interesting, albeit flawed, theory Wayne.
Samuel