Last Post, February 8
Economics is a fine profession but only for economists.
The speech by Reserve Bank governor Philip Lowe (“Bank boss a master at saying very little”, 7/2), compounded by his two-handed assessments, confirms John Kenneth Galbraith’s observation that economics is extremely useful as a form of employment for economists.
So Kenneth Hayne recommends that the government establish a regulator to make sure the present regulators, ASIC and APRA, do the regulating. Who is going to make sure the regulator regulating the regulators does any regulating?
It is a pounds-to-pennies bet that not one bank chief or chairman will face criminal charges of any consequence in the next two years and their photographs will continue to be plastered all over the social and finance pages of the press during that time.
Honesty, integrity and trust are at the core of the wellbeing both of individuals and of society; without them we are lost (“They took more than cash — they stole our trust,” 6/2). John Anderson’s article should be required reading for all in the banking industry.
Cameron Stewart’s comment that Donald Trump “is not a natural unifier-in-chief” should go down as the understatement of the century (“President hoping to become the unifier-in-chief”, 7/2).
Managing your personal finances used to be a task akin to driving a car, something you could expect to do yourself — given training, a working knowledge of the road rules and some practical experience. The banking royal commission could have inquired into why so many people have been driven into the clutches of the financial services industry in the first place.
Australia Post is the latest organisation to seek praise for what they’re paid to do. I can’t get a parcel delivered without finding an email: “We’d love to have your feedback.” This misplaced idea of better customer service is irritating. Do your job. I’ll tell you if I’m not happy.
True lovers of literature will continue to think for themselves (“Teachers push for same-sex reading”, 7/2). When the cynics have done their worst, those who love true art and its expressions of human experience will still be there, brushing off the dust.
Are Noddy and Big Ears coming out of the closet then?
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