Issue 204, 24 September 2008

Issue of the week:

Labor may regret creating the brand it used to such great effect during last years election campaign. Kevin07 has been quickly adapted and the result far less flattering to the PM. After a time as Kevin24x7 - Kevin07 has this week become Kevin747 as the Opposition launched an attack on the amount of overseas travel undertaken by the Prime Minister this year.

Like other populist attacks on MP allowances or salary, criticising travel on official business is always risky. There comes a point where these arguments demean the standing of the office of Prime Minister and that's not good for anyone, including the Opposition Leader, who ultimately wants to occupy that position.

Respected figures such as Rev Tim Costello have defended Rudd's attendance at the UN this week as "absolutely important" and the PM is also expected to score points by announcing that he has secured international heavy-hitters Henry Kissinger and George Schultz to work with the International Commission on Nuclear Non-Proliferation and Disarmament.

What's to come:

The collapse of the wall-to-wall Labor Governments has already started with the formation of the Minority Liberal Government in WA. Newspoll figures this week seem to indicate that this trend will continue with Labor's primary vote slumping in both Queensland and South Australia.

New Premier Colin Barnett will host COAG in Perth next week where he has said he will be urging the Federal Government to make greater use of Western Australia's natural gas resources to meet our future energy needs.

Something you didn't know:

Harry Evans, Clerk of the Senate and Ian Harris, Clerk of the House of Representatives, find themselves in the unique position of directly contradicting one another in their interpretations of the constitutionality of the Opposition bill to increase payments for some single pensioners.

Unsurprisingly, it was Ian Harris' advice the Government accepted and Speaker Harry Jenkins closed down debate on the bill yesterday, declaring it unconstitutional.

ICU:

When Sydney ad agency The Works developed the controversial "The Stalker" ad for Jim Beam bourbon they would have had a fair idea groups such as the Alcohol Policy Coalition were going to be outraged by it. A complaint against the ad - which features a woman talking about stalking her ex-boyfriend and breaching an AVO - has been upheld by the Advertising Standards Board yesterday. Jim Beam had already pulled the ad, and the linked website which enabled people to send "stalker SMS messages" is also closed.

Such notoriety and would generally be a problem for brands eager to protect their image and be seen to be responsible - think airlines, cereal, household products - but part of the challenge in these cases for the Standards Board is that stirring up controversy will often work to the advantage of more irreverent brands and create cult support.

The ad has probably already served its purpose and can still be found on countless websites. Because of this, creative agencies will continue to find new ways to shock and engage audiences.

Personality of the week:

US Federal Reserve Bank Chairman Ben S. Bernanke has found himself in the spotlight this week as the world anxiously watches the US markets. He strongly supports the controversial $700 billion rescue plan proposed by Treasury Secretary Henry Paulson. Concerns have been rife that the plan will force the Treasury to pay over the market value for the mortgage assets, although Bernanke refutes these claims. He argues that banks would be paralysed if they sold at the current market value fire-sale price. Instead, the Treasury will pay the current hold-to-maturity price and over time most, if not all, of the value will be recovered.

Having written extensively on The Depression, Bernanke's opinions are widely valued, particularly in the light of the current turbulent markets. Throughout his academic and federal career, he has intentionally remained distanced from fiscal policy, preferring to concentrate solely on monetary issues.

Bernanke joined the Federal Reserve Bank in 2002 and was appointed to Chairman in early 2006. He holds a BA and PhD in Economics from Harvard and Massachusetts Institute of Technology respectively and lectured at Stanford Graduate School of Business and at New York and Princeton Universities.

"Oh say can you see" - US election tracker:

For something a little more light-hearted this week, New York Times columnist, Maureen Dowd, recently asked Aaron Sorkin (creater of political drama, "the West Wing") to conjure up a meeting between Senator Barack Obama and (fictional) President Jed Bartlet. This was composed in response to Obama's problematic poll numbers of late. For anyone who is an avid follower of US politics and The West Wing, you will surely appreciate this. Read it here.

Political quote of the week:

"There are no roosters in the AFL Grand Final - there have been plenty of swans and there have been plenty of hawks, but there are no roosters. I would not be surprised if he was out there next congratulating Ricky Ponting on winning the Brownlow Medal."

- Wayne Swan in Question Time, 23 September 2008

Media quote of the week:

"Government suits Ms Gillard. Her appearance has acquired an increasingly healthy glow since the election - a happy knack her more haggard colleagues would love."

- Michael Harvey on Ms Gillard's Question Time Performance, Herald Sun, 24 September 2008.

ICU quote of the week:

"No one can talk about the 'caipirinha crisis' or the 'tequila crisis' or the 'rice crisis' or whatever name that always denoted the crisis was coming from emerging markets"

- Argentine President Cristina Fernandez de Kirchner, talking about the global credit crisis at the United Nations Credit-crisis Summit, 23 September 2008.