"Australia is not an island...."ABC played it thismorning but I didn't catch where it was or where I can find it.
He's such a nong with his catchphrases and buzzwords.
Thanks to Wand:
(O'BRIEN)Kevin Rudd if we can start with the economy. There's an expectation growing that next week's national account figures will show at best an economy growing at snail's pace, at worst negative growth for the first time in eight years. Has the Reserve Bank gone too far in using high interest rates to curb inflation?
KEVIN RUDD, AUSTRALIAN PRIME MINISTER: Both through the Budget forecasts and through the RBA's forecasts we have seen projections ahead of a slowing of the economy for some time.
Australia is not an island. We are going through difficult global economic times, and six of the seven largest industrial economies around the world have now registered either zero or negative growth.
On the question you directly go to, which is the interest rates regime put in by the Reserve Bank, bottom line is this - they have responded to high inflation by Australian historical standards, the highest inflation in 16 years, which is what we inherited at the end of last year.
And what we are seeing through as the wash through of 10 interest rate rises in a row under the Liberals, and frankly you gotta have a plan to respond to this, and our practical plan of action is to see the economy through in the long term, and that means making some tough decisions to do that.
Kevin's such a waffling clichè ridden fool.
Thanks to Wand, who heard it on 7:30 Report last night.