People who’ve held still in front of me long enough, will have heard my idea that, although individual persons can be quite clever, people tend to be stupid. The larger the group, the stupider they act.
This principle seems to have elected John Howard as Prime Minister of Australia again. He managed to claim during the election campaign that Peter Costello was responsible for Australia’s good economic position, but that Mark Latham would single-handedly drive Australia into the ground financially, and at the same time insult the intelligence of every Australian who can do simple arithmatic.
For those whose arithmatic isn’t so good, 12 is less than 17, so the last labout Prime Minister reduced interest rates by 5% in one term. In three successive terms, John Howard’s governments were only able to drop it 6%. This last point isn’t really comparable, I expect, since a drop from 17% to 12% while the whole world is recovering from a recession isn’t hard, while 12% to 6% over three years while other economies are suffering is not easy. But hey, if everyone else can insult the intelligence of the public, why can’t I?