That’s partly because it does a pretty good job of actually reporting stuff, and partly because – as the old union movement saw has it – it’s the “Bosses’ Bible” and you’ve got to know what you’re up against.
No one can mistake, for instance, the consistent and never-ending drumbeat of “unions = poor productivity” stories – here editorial and reportage definitely intertwine into a three word slogan Tony Abbott never wanted to utter – “Bring Back Workchoices!”…
The Fin, to its discredit, has sometimes fallen victim to the “magic wand” theory of the economy – the election of a Coalition government is in itself sufficient to restore business confidence (and necessary, because that pesky ALP was a “shambles” or something). Thus, in a virtuous circle, exogenous variables are wished away, biz feels better, and rather too Keynesian, lots of money starts washing around and making everyone happier. (Coalition supporters have just discovered they now like the economy, by the way).
Of course, this is true to a degree.
Stock markets rise, perhaps some more is invested (though one hopes listed companies make more rational decisions about where and when to dispose their capital on the whole). But sooner or later, everyone will discover that when you change the government, you don’t automatically change the economy. You certainly don’t change global or Asian demand, or a whole lot of other things, just by letting that nice Mr Hockey into the big office in Treasury.
Just as with Boats, the Coalition now apparently wants to delay the necessary confrontation with reality:
The incoming Abbott government is considering delaying until late January the mid-year budget update to avoid hurting confidence over the Christmas shopping season.
Good luck with that.
We’ve elected another mob who think they make reality – this time not by saying stuff, but by not telling people stuff.