FOOL ME TWICE, SHAME ON ME...
The last time KRudd sold himself to the electorate it was as 'John Howard-Lite’.
“I’m a fiscal conservative”, he promised.
The majority bought it.
Rudd went on to head the biggest spending government in Australia's history. He inherited a near zero net debt, a $23 billion surplus and a future fund with $60 billion in the kitty.
Wasting little time, Labor embarked on a spending spree that has plunged Australia on to a rocky road of debt and deficit. The deficit is believed to be around $20 billion but economic analysts reckon it’s double that – the same analysts who told us a year ago Labor would never deliver a surplus, while Labor was insisting a surplus would be on time, "no ifs, no buts, failure is not an option".
Debt has blown out to $300 billion with Labor fast running out of cash and pushing to raise the credit card ceiling to $350 billion.
Labor’s defence of their debt and deficit disaster is that, well, we’re not as badly off as Greece, Iceland or Portugal. It’s a bit like downgrading from a house on a large suburban lot to a tiny apartment and saying we’re not as badly off as the homeless bloke. Don’t you just feel so much better?
In his previous election campaign Kevin 07 also promised to "turn back the boats where it’s safe to do so". What we got from KRudd was a dismantling of our border protection which resulted in 45,000 boat arrivals and over 1,000 deaths at sea.
Yet when Abbott adopts a ‘turn back the boats where it’s safe to do so’ policy, Kevin runs a scare campaign threatening a war with Indonesia.
Hmmm...okay, let’s move on.
Mining was a healthy export income generator when Kevin 07 took office. Resources quarantined Australia from the global financial crisis that melted most other economies. Ever the opportunist, Kevin thought he’d milk some of that loot to plug his massive spending holes. There was no industry consultation, but Rudd and treasurer Swan did succeed in whipping up fear that generated massive investment and jobs losses as confidence was ripped from a very healthy, growing sector.
International investors looked elsewhere.
This Rudd stuff-up was the final straw that had him removed as leader. The removal emboldened his colleagues to spill the beans and tell all, labelling Rudd a ‘dysfunctional, ‘psychopathic’, ‘egomaniac’ with no Labor values.
Now he’s back. Rudd re-invented, with the incredulous sales pitch that he’s ‘only been Prime Minister for a week or so’ and that he deserves a fair go - and we should believe his new promises of fixing all our problems. The reality is, they are Kevin’s self-made problems, and he’s made them our problems.
Any analyst will tell you the best way to predict an outcome is to look at indicators. That is, past performance. Whether it’s the share market, housing market, products or services etc. Ebay even has ‘feedback’ to guide online buyers on the past performance of a seller’s product, service and conduct so they minimise the risk of getting dudded.
Given KRudd’s past performance (or indicators) on border protection, the debt, the deficit, the ill-conceived and rushed NBN, the pink batts fiasco, global warming and ETS failures at Copenhagen, the mining tax, dysfunctional internal operations which saw massive staff resignations from his office and ministerial colleagues refusing to work with him, can anybody in their right mind seriously go to the next election and give Kevin their vote?
Kevin wants us to believe that his past performances mean nothing but we’re expected to believe him on future promises.
What would your business, financial or share market adviser tell you if you said you wanted to bet your house on buying shares in a dismally failed company with a dysfunctional management, poor price-earnings ratio, horrific debt exposure and increasing borrowings, overspending, negative returns on capital and assets and speculative promises?
He’d advise you to see a therapist.
Kevin Rudd fooled the country once with false promises and left a trail of disasters in his wake. The ‘indicators’ are there for everyone to analyse.
Fool me once, shame on you.
Fool me twice, shame on me.