Find above Roy Morgan’s latest two-party preferred Federal opinion poll.
As you can see, and as has been reported more widely in other polls, Labor is surging. Regular readers will remember that I’ve discussed before the roll of interest rate cuts in the popularity of the incumbent (you can see it on the chart) and with a string of cuts in the offing, it seems to me a pretty obvious conclusion to draw that the Labor government looks about to hit the front.
Moreover, the fortunes of Labor may well be about to change for the medium term. It is completely perverse of course, but because of the leverage of households, economic weakness is greeted with tremendously broad smiles as rates fall. And that’s what’s coming down the pipe.
Add in that the Opposition that has hung itself entirely upon three ill-timed issues: boats, carbon and surpluses. The first two have been rendered moot and the last is going to be very unpopular as unemployment rises. We may well have the settings for a sustained Labor lead.
Whocouldanode?
