Perhaps it’s time for a reminder that correlation does not imply causation. In the time since Peter Costello ceased being Treasurer, other things that have happened include:
- Collapse of the sub-prime credit market, driving up the cost of money.
- The United States economy plunging steadily into recession.
- The slowing, if not the end, of the resources boom.
- Skyrocketing oil prices driving up the cost of living.
Perhaps someone should ask Tip what he would have done in anticipation of, or in response to, those global economic events. I would suggest that it might be a good idea to ask the question before anointing him as Saviour, but if not then perhaps he’ll have to answer it afterward.