Malcolm Turnbull has taken exception to Kevin Rudd describing the current financial crisis as a "national security emergency" http://www.abc.net.au/news/stories/2008/10/19/2395100.htm?section=justin?

Is the government using the language of fear too much? Should they be using more measured tones? Or would this in effect understate the crisis and lead to citizens making bad decisions as a result?

Graham, I read the article you linked to quite differently to the way I've interpreted you comment.

I got the impression that Turnbull was objecting to the lack of debate of the measures rather than the severity of the issues.

Apart from that picking up on the questions in your post.

I get the impression that we are facing a very real risk of a major financial crisis and I'd prefer to see honest acknowledgement of that by political leaders

There is a risk that doing so will talk down the economy - a "60 minutes" segment last night with an economist talking of a 40% drop in house values won't do much to help house prices in the short term but I doubt overall that reporting on risks will create long term harm.

Rudd's package seems to be mostly targetted at those who will be hardest hit by a slowdown but will we need that 10 billion later to fix much bigger problems.

I'm guessing that for many (not all) at this stage of the crisis it will be a nice freeby rather than a make or break help package. Have we really hit the rainy day yet and will the money help stop it raining next year?

Is an extra $1000 in someones pocket just before christmas this year a more caring or helpful move than setting up a scheme which might lessen the chances of the loss of the family home when things get really tough?

TBC

R0bert

Part 2

Are there things we could do better? I doubt that there is one single answer and certainly some people really need the money now so the following are brainstorming ideas rather than realistic solutions.

- $10 billion towards low cost but functional emergency housing so that if we are caught in a global recession/depression beyond our control we lessen the numbers on the streets and if not we never have someone living on the streets because there is no alternative.
- $10 billion to kick start a publically owned bank which does not need to return a profit to shareholders during tough times and which is willing to find ways to help people keep their family home if things go bad. Not one to lend to those unwilling to help themselves but one supportive of those caught up in global events beyond their control.
- $10 billion to find ways of getting our manufacturing sectors going again or doing more onshore processing of what we export.

R0bert

Hi Robert, I grabbed the only quote from Turnbull I could easily find, but I based a lot of my post on what he said to Fran Kelly on Radio National this morning. http://www.abc.net.au/rn/breakfast/stories/2008/2395498.htm.

The “economic stimulus package” is aimed at indiscriminate spenders just before Christmas. After Christmas, the beneficiaries of Government ‘largesse’ will be broke and whining again.

Rudd has cynically handed out money to people who will blow it, stimulating the economy for a short time to make the Government look good.

Today’s cartoon of paramilitary looking police arresting a couple of oldies with Rudd proclaiming: “We have reason to believe you intend saving your bonus…” sums it all up!

Rudd the Dud is treating not only Parliament with contempt; he is treating all Australians with contempt

Graham, thanks. That gives a better coverage of his position. Turnbull seems to be criticising "sound byte" language rather whilst supporting truthful disclosure (if only I believed that any pollies really believed that). What I heard on the interview I liked.

R0bert