Part of me isn't impressed by the rate rise during the week, although I can understand why it's happened. The other part of me is even less impressed by the Commonwealth Bank increasing its rates above the RBA's increase. I think it's purely to pay for their utterly terrible ads with what may or may not be a faux-Paul Hogan and the other with the stony-faced cricketers.

Whoever told them those ads were great was obviously insane. Or smoking crack. Or both. I think I hate them just a little for it meaning that we're inflicted with said ads during the cricket. And any other random time. Although I don't hate them as much as I hate the impotence-piano-playing ad people.

Anyway. The RBA's been warning us for quite some time to curb our spending - "put the credit card down and back away slowly with your hands in the air, don't even think about that enormous TV and your home loan won't get hurt" sort of thing.

There was a letter in one of the papers during the week that was something along the lines of "Blame Rudd! It's all his fault!" and I remember thinking, "Yes. Blame the government. The two-month-old government. Ignore what the one before it did in its years in power..." What were they expecting? Rudd to sweep to power, reduce interest rates for the first time since 2001 and then hand out ice-creams for afters?

I'm somewhat surprised by Brendon Nelson saying the government of J-Ho handed over the economy in great shape and we'll all be roon'd by reformation to the industrial relations laws. But then not. If the government and opposition didn't engage in finger-pointing, I think we'd all be deeply disappointed. Or so stunned we'd all keel over backwards.

Australia is a mid-sized economy, which makes me wonder whether the government has as much of an impact on interest rates as some may like to believe. Well, they would have some impact with such things as tax cuts, which can give people more discretionary spending money and has an effect on what gets spent and where (not just by individuals, but by the government itself). The US sub-prime crisis thing and other global market moments of instability also have an effect on what happens here.

I feel sorry for the people these rate rises are putting under mortgage stress. Although I have a relatively small loan, I'm still not overjoyed by any increase in rates, because it means it'll take longer to pay off. Hate to think what it would be like for the people who are struggling with payments and/or face losing their homes.