Tuesday, January 15, 2008

Regulation increases competition : Swan

Treasurer Wayne Swan is not thinking of outlawing exit fees from mortguages to allow people to switch banks more easily. (can't find the link to this story but it was in the OZ)

Labor's answer is always ONE MORE LAW.

It's called a FREE market for a reason you moron, Swan.

What is this guy on? The is a dead set socialist and he's in charge of the economy.

As it happens fees to transfer mortguages are pretty low, compared to the the interest bill, and mortguages can be transferred pretty easily already. This is just another pointless noise and goes further to revealing how powerless Rudd and swan are to do anything about interest rates in the short term (as was Howard).

In the long term they have the power to increase it hugely, by elevating the power of the unions and increasing wage demands and inflation.

As any idiot knows, the biggest capacity constraing in the unemployment rate. Infrastructure spending will never offset this.