Joe Hockey has spent the week dispensing wisdom from the Book of Hock-onomics, which is an unconventional text of mysterious provenance. It is part economics, part philosophy and, as the government would have it, mostly ''ill-considered rubbish''.

But the latter is too harsh a characterisation. It's simply that, like the Tao or a cup of tea-leaves, the Book requires divination rather than straight reading.

Under the laws of Hock-onomics, governments have levers that they can pull, much like crane drivers.

It is difficult to say what those levers are, or where they are located, but Hock-onomists are working on that as we speak.

''This is what the member for North Sydney said: 'Well, look, I'm not going to be specific, because I'm not fully aware of exactly what the banks are asking for,''' Swan crowed. ''These people have lost the plot.''

Which was cruel. Some people just don't understand that Hock-onomics is more of an art than a science.

Joe Hockey Says Government Should Regulate Interest Rates