Bob Brown wants to regulate banks so that mortgage rates track the cash rate. Meanwhile Richard Denniss from the Australia institute is quoted in today’s Age newspaper as saying that “It’s [banking] like making hamburgers. If meat accounts for a third of your costs and the price of meat goes up 10 percent, you shouldn’t be expected to put up the price of the hamburgers by 10 percent.” Now I had thought that all this fuss about mortgage rates was due to the fact that Australian households (read the median voter) is way overgeared. But now I’m thinking otherwise. I like this hamburger logic. I think we should apply this to all goods. Take wine. Grange Hermitage has been increasing in price by double digits for decades. The price of grapes has not. Penfolds are clearly scumbags. The price of Grange and all other wines should be a simple markup on table grape prices. Say $3/bottle. And what about petrol? Buggar petrol watch, just a straight 5% over Singapore crude ought to do it. Ferraris surely can’t cost that much to build? By year end everyone in Australia can be drinking Grange and driving a Ferrari – and we can all afford the petrol. All courtesy of the Greens.