The Melbourne Age used to be called the old thunderer. By contrast, the Sydney Morning Herald was known as Granny Herald. I fear Granny felt obliged today to give young Tony Abbott an editorial lecture: Abbott is failing to live up to his promises - or his purpose. Tsk. Meantime, the latest polls show Labor close to pulling ahead if not ahead.
I make no detailed comment, beyond noting that that the government's problems are self-inflicted, something that I alluded to in Mr Abbott's rabbit trap. Now I'm thinking in terms of Mr Abbott's rubber bands, pulled so tight that they have lost all elasticity. All they can do is break. This won't be aided by the likely half senate election in WA.
Meantime, the economic commentary across the media has become, if not confused, at least confusing. Or so I find it. This one is really important. The Australian Government will muddle through, However, what happens to the economy sets the tone.
Back in May I said in a very short post on quantitative easing (The world is awash with money) I said:
The thing that is making me increasingly uneasy is the feeling that the pre-conditions are being set for an economic crash. What makes perfect sense for one country, becomes a mess when multiple countries do it. What I'm trying to work out in my mind is a scenario that would allow multiple quantitative easing to be unwound without tipping the wheelbarrow over and us all onto the ground.
That remains my position. I still don't have an answer. However, in a long piece I wrote for a national business magazine at the start of November (it's not yet on-line), I took a more positive view, arguing that Australian economic conditions would be better in 2014 than they were in 2013. That, too, remains my view.
Am I conflicted? Perhaps. Certainly I am a little confused. If you are going to make judgements about the future, as opposed to writing about current events, you have to specify your assumptions. Then you must judge what happens in terms of those assumptions, modifying as required.