#cashrate — Public Fediverse posts

#BernardKeane writes for Crickey News, and in this article on the #RBA cash rate rise, he acknowledges the #tRUmp factor on our inflation headline but at the same time Keane underplays its importance and the fact that no amount of raising the #CashRate will do jackshit to curb the global pressures on the supply side of our economy.

So what’s left you might ask. Well, we could bash the govt for high spending (fiscal policy), its budget magic tricks to understate the bad shape it’s in and castigate the #Treasurer and the #FinanceMinister urging them to do better before the end of this FY. Yes, well thank you Mr Keane for backing up your argument with some budget spend growth figures, it’s not like national economies grow over time, right?

There are three things here, too important to leave out of any commentary on govt budgets and RBA decisions:

1) The inflation target range is totally pulled out of someone’s arse without any solid economic arguments backing that rate setting.
2) A govt budget **is not a household budget**. It is the govt that issues and withdraws currency from the economy not the banks, not the creditors. Budget deficits/surpluses are simply *indicators* of currency flux.
3) The elephant in the room is our **Tax Regime** which is in dire need of rebalancing to improve *our society* and not to kowtow to #StateCapture vultures or the #Grifters causing #Greedflation which are deserving tighter regulations of the #Markets.

None of these are addressed by #BernardKeane in his tirade reflecting an angry electorate. I’m not linking to the article because it is a substandard *opinion piece* (go to crickey website if you wish to read it, though imo you’re better off reading Greg Jericho or Prof Richard Murphy if you want economic commentary that makes sense and provides answers)

Happy to be corrected, as always.

#AusPol #Economomy #RBA #NeoLiberalism #MMT #EconomicRationalism #FiscalPolicy #MonetaryPolicy

#BernardKeane writes for Crickey News, and in this article on the #RBA cash rate rise, he acknowledges the #tRUmp factor on our inflation headline but at the same time Keane underplays its importance and the fact that no amount of raising the #CashRate will do jackshit to curb the global pressures on the supply side of our economy.

So what’s left you might ask. Well, we could bash the govt for high spending (fiscal policy), its budget magic tricks to understate the bad shape it’s in and castigate the #Treasurer and the #FinanceMinister urging them to do better before the end of this FY. Yes, well thank you Mr Keane for backing up your argument with some budget spend growth figures, it’s not like national economies grow over time, right?

There are three things here, too important to leave out of any commentary on govt budgets and RBA decisions:

1) The inflation target range is totally pulled out of someone’s arse without any solid economic arguments backing that rate setting.
2) A govt budget **is not a household budget**. It is the govt that issues and withdraws currency from the economy not the banks, not the creditors. Budget deficits/surpluses are simply *indicators* of currency flux.
3) The elephant in the room is our **Tax Regime** which is in dire need of rebalancing to improve *our society* and not to kowtow to #StateCapture vultures or the #Grifters causing #Greedflation which are deserving tighter regulations of the #Markets.

None of these are addressed by #BernardKeane in his tirade reflecting an angry electorate. I’m not linking to the article because it is a substandard *opinion piece* (go to crickey website if you wish to read it, though imo you’re better off reading Greg Jericho or Prof Richard Murphy if you want economic commentary that makes sense and provides answers)

Happy to be corrected, as always.

#AusPol #Economomy #RBA #NeoLiberalism #MMT #EconomicRationalism #FiscalPolicy #MonetaryPolicy

#BernardKeane writes for Crickey News, and in this article on the #RBA cash rate rise, he acknowledges the #tRUmp factor on our inflation headline but at the same time Keane underplays its importance and the fact that no amount of raising the #CashRate will do jackshit to curb the global pressures on the supply side of our economy.

So what’s left you might ask. Well, we could bash the govt for high spending (fiscal policy), its budget magic tricks to understate the bad shape it’s in and castigate the #Treasurer and the #FinanceMinister urging them to do better before the end of this FY. Yes, well thank you Mr Keane for backing up your argument with some budget spend growth figures, it’s not like national economies grow over time, right?

There are three things here, too important to leave out of any commentary on govt budgets and RBA decisions:

1) The inflation target range is totally pulled out of someone’s arse without any solid economic arguments backing that rate setting.
2) A govt budget **is not a household budget**. It is the govt that issues and withdraws currency from the economy not the banks, not the creditors. Budget deficits/surpluses are simply *indicators* of currency flux.
3) The elephant in the room is our **Tax Regime** which is in dire need of rebalancing to improve *our society* and not to kowtow to #StateCapture vultures or the #Grifters causing #Greedflation which are deserving tighter regulations of the #Markets.

None of these are addressed by #BernardKeane in his tirade reflecting an angry electorate. I’m not linking to the article because it is a substandard *opinion piece* (go to crickey website if you wish to read it, though imo you’re better off reading Greg Jericho or Prof Richard Murphy if you want economic commentary that makes sense and provides answers)

Happy to be corrected, as always.

#AusPol #Economomy #RBA #NeoLiberalism #MMT #EconomicRationalism #FiscalPolicy #MonetaryPolicy

#BernardKeane writes for Crickey News, and in this article on the #RBA cash rate rise, he acknowledges the #tRUmp factor on our inflation headline but at the same time Keane underplays its importance and the fact that no amount of raising the #CashRate will do jackshit to curb the global pressures on the supply side of our economy.

So what’s left you might ask. Well, we could bash the govt for high spending (fiscal policy), its budget magic tricks to understate the bad shape it’s in and castigate the #Treasurer and the #FinanceMinister urging them to do better before the end of this FY. Yes, well thank you Mr Keane for backing up your argument with some budget spend growth figures, it’s not like national economies grow over time, right?

There are three things here, too important to leave out of any commentary on govt budgets and RBA decisions:

1) The inflation target range is totally pulled out of someone’s arse without any solid economic arguments backing that rate setting.
2) A govt budget **is not a household budget**. It is the govt that issues and withdraws currency from the economy not the banks, not the creditors. Budget deficits/surpluses are simply *indicators* of currency flux.
3) The elephant in the room is our **Tax Regime** which is in dire need of rebalancing to improve *our society* and not to kowtow to #StateCapture vultures or the #Grifters causing #Greedflation which are deserving tighter regulations of the #Markets.

None of these are addressed by #BernardKeane in his tirade reflecting an angry electorate. I’m not linking to the article because it is a substandard *opinion piece* (go to crickey website if you wish to read it, though imo you’re better off reading Greg Jericho or Prof Richard Murphy if you want economic commentary that makes sense and provides answers)

Happy to be corrected, as always.

#AusPol #Economomy #RBA #NeoLiberalism #MMT #EconomicRationalism #FiscalPolicy #MonetaryPolicy

#BernardKeane writes for Crickey News, and in this article on the #RBA cash rate rise, he acknowledges the #tRUmp factor on our inflation headline but at the same time Keane underplays its importance and the fact that no amount of raising the #CashRate will do jackshit to curb the global pressures on the supply side of our economy.

So what’s left you might ask. Well, we could bash the govt for high spending (fiscal policy), its budget magic tricks to understate the bad shape it’s in and castigate the #Treasurer and the #FinanceMinister urging them to do better before the end of this FY. Yes, well thank you Mr Keane for backing up your argument with some budget spend growth figures, it’s not like national economies grow over time, right?

There are three things here, too important to leave out of any commentary on govt budgets and RBA decisions:

1) The inflation target range is totally pulled out of someone’s arse without any solid economic arguments backing that rate setting.
2) A govt budget **is not a household budget**. It is the govt that issues and withdraws currency from the economy not the banks, not the creditors. Budget deficits/surpluses are simply *indicators* of currency flux.
3) The elephant in the room is our **Tax Regime** which is in dire need of rebalancing to improve *our society* and not to kowtow to #StateCapture vultures or the #Grifters causing #Greedflation which are deserving tighter regulations of the #Markets.

None of these are addressed by #BernardKeane in his tirade reflecting an angry electorate. I’m not linking to the article because it is a substandard *opinion piece* (go to crickey website if you wish to read it, though imo you’re better off reading Greg Jericho or Prof Richard Murphy if you want economic commentary that makes sense and provides answers)

Happy to be corrected, as always.

#AusPol #Economomy #RBA #NeoLiberalism #MMT #EconomicRationalism #FiscalPolicy #MonetaryPolicy

RBA’s fourth rate hike has borrowers feeling the squeeze

Natasha Luscri-Miller and her partner moved house multiple times in five years and at one point lived in…
#NewsBeep #News #Economy #5percentdepositscheme #anglicaresydney #AU #Australia #Business #cashrate #interestratesaustralia #MicheleBullock #mortgagerepayments #RBA #ReserveBank #robstokes
https://www.newsbeep.com/au/910303/

RBA’s fourth rate hike has borrowers feeling the squeeze

Natasha Luscri-Miller and her partner moved house multiple times in five years and at one point lived in…
#NewsBeep #News #Economy #5percentdepositscheme #anglicaresydney #AU #Australia #Business #cashrate #interestratesaustralia #MicheleBullock #mortgagerepayments #RBA #ReserveBank #robstokes
https://www.newsbeep.com/au/910303/

I am starting to fall out with the Guardian, and if it keeps this sort of shit up, it won't see me reading it for much longer. Patrick Commins reports on the #RBA #CashRate hike decision as **palming off blame somewhere else**. That, in itself, is a journalistic error. The RBA and the Treasurer are bang on about putting the blame for inflationary pressures on #tRump 's desastrous war for which we are paying in price increases (and stagnant wages).but if that wasn't enough #Commins then quote the hopelessly self-contradictory #TimWilson blaming govt spending for the inflation figures, a cause specifically rejected by #Bullock during her presser. And then Commins leaves it hangin there, without so much as a retort -- parroting #LNP nonsense as if there's nothing to dispute.

--Quote
Already grumpy with the state of the economy and high living costs, a rate rise is the latest blow to household finances and to the popularity of a Labor government that is increasingly on the nose with voters.

Tim Wilson, the shadow treasurer, has no doubt what drove today’s rate hike.

“The key thing we need to do to address the problem of inflation is to get government spending down,” Wilson said.

It wasn’t helpful that Monday’s final budget outcome showed federal spending as a share of the economy has reached its highest since the mid-1980s, leaving out the pandemic.
--Unquote

That Mr Commins **is not journalism** go back to school, do not pass go, do not collect....

PS. I'm not linking because it's shite.

#TheGuardian #Inflation #AusPol

I am starting to fall out with the Guardian, and if it keeps this sort of shit up, it won't see me reading it for much longer. Patrick Commins reports on the #RBA #CashRate hike decision as **palming off blame somewhere else**. That, in itself, is a journalistic error. The RBA and the Treasurer are bang on about putting the blame for inflationary pressures on #tRump 's desastrous war for which we are paying in price increases (and stagnant wages).but if that wasn't enough #Commins then quote the hopelessly self-contradictory #TimWilson blaming govt spending for the inflation figures, a cause specifically rejected by #Bullock during her presser. And then Commins leaves it hangin there, without so much as a retort -- parroting #LNP nonsense as if there's nothing to dispute.

--Quote
Already grumpy with the state of the economy and high living costs, a rate rise is the latest blow to household finances and to the popularity of a Labor government that is increasingly on the nose with voters.

Tim Wilson, the shadow treasurer, has no doubt what drove today’s rate hike.

“The key thing we need to do to address the problem of inflation is to get government spending down,” Wilson said.

It wasn’t helpful that Monday’s final budget outcome showed federal spending as a share of the economy has reached its highest since the mid-1980s, leaving out the pandemic.
--Unquote

That Mr Commins **is not journalism** go back to school, do not pass go, do not collect....

PS. I'm not linking because it's shite.

#TheGuardian #Inflation #AusPol

I am starting to fall out with the Guardian, and if it keeps this sort of shit up, it won't see me reading it for much longer. Patrick Commins reports on the #RBA #CashRate hike decision as **palming off blame somewhere else**. That, in itself, is a journalistic error. The RBA and the Treasurer are bang on about putting the blame for inflationary pressures on #tRump 's desastrous war for which we are paying in price increases (and stagnant wages).but if that wasn't enough #Commins then quote the hopelessly self-contradictory #TimWilson blaming govt spending for the inflation figures, a cause specifically rejected by #Bullock during her presser. And then Commins leaves it hangin there, without so much as a retort -- parroting #LNP nonsense as if there's nothing to dispute.

--Quote
Already grumpy with the state of the economy and high living costs, a rate rise is the latest blow to household finances and to the popularity of a Labor government that is increasingly on the nose with voters.

Tim Wilson, the shadow treasurer, has no doubt what drove today’s rate hike.

“The key thing we need to do to address the problem of inflation is to get government spending down,” Wilson said.

It wasn’t helpful that Monday’s final budget outcome showed federal spending as a share of the economy has reached its highest since the mid-1980s, leaving out the pandemic.
--Unquote

That Mr Commins **is not journalism** go back to school, do not pass go, do not collect....

PS. I'm not linking because it's shite.

#TheGuardian #Inflation #AusPol

I am starting to fall out with the Guardian, and if it keeps this sort of shit up, it won't see me reading it for much longer. Patrick Commins reports on the #RBA #CashRate hike decision as **palming off blame somewhere else**. That, in itself, is a journalistic error. The RBA and the Treasurer are bang on about putting the blame for inflationary pressures on #tRump 's desastrous war for which we are paying in price increases (and stagnant wages).but if that wasn't enough #Commins then quote the hopelessly self-contradictory #TimWilson blaming govt spending for the inflation figures, a cause specifically rejected by #Bullock during her presser. And then Commins leaves it hangin there, without so much as a retort -- parroting #LNP nonsense as if there's nothing to dispute.

--Quote
Already grumpy with the state of the economy and high living costs, a rate rise is the latest blow to household finances and to the popularity of a Labor government that is increasingly on the nose with voters.

Tim Wilson, the shadow treasurer, has no doubt what drove today’s rate hike.

“The key thing we need to do to address the problem of inflation is to get government spending down,” Wilson said.

It wasn’t helpful that Monday’s final budget outcome showed federal spending as a share of the economy has reached its highest since the mid-1980s, leaving out the pandemic.
--Unquote

That Mr Commins **is not journalism** go back to school, do not pass go, do not collect....

PS. I'm not linking because it's shite.

#TheGuardian #Inflation #AusPol

I am starting to fall out with the Guardian, and if it keeps this sort of shit up, it won't see me reading it for much longer. Patrick Commins reports on the #RBA #CashRate hike decision as **palming off blame somewhere else**. That, in itself, is a journalistic error. The RBA and the Treasurer are bang on about putting the blame for inflationary pressures on #tRump 's desastrous war for which we are paying in price increases (and stagnant wages).but if that wasn't enough #Commins then quote the hopelessly self-contradictory #TimWilson blaming govt spending for the inflation figures, a cause specifically rejected by #Bullock during her presser. And then Commins leaves it hangin there, without so much as a retort -- parroting #LNP nonsense as if there's nothing to dispute.

--Quote
Already grumpy with the state of the economy and high living costs, a rate rise is the latest blow to household finances and to the popularity of a Labor government that is increasingly on the nose with voters.

Tim Wilson, the shadow treasurer, has no doubt what drove today’s rate hike.

“The key thing we need to do to address the problem of inflation is to get government spending down,” Wilson said.

It wasn’t helpful that Monday’s final budget outcome showed federal spending as a share of the economy has reached its highest since the mid-1980s, leaving out the pandemic.
--Unquote

That Mr Commins **is not journalism** go back to school, do not pass go, do not collect....

PS. I'm not linking because it's shite.

#TheGuardian #Inflation #AusPol

Australia’s central bank raises cash rate to 15-year peak

SYDNEY, Sept 29 (Reuters) – Australia’s central bank raised its cash rate ‌to a 15-year high ‌of 4.60%…
#Economy #australia #cashrate #centralbank #CentralBanks #coreinflation #ReserveBankofAustralia
https://www.europesays.com/3278552/

The RBA has no choice but to hike rates as US currency crown slips

It is a phrase synonymous with American dominance, especially when it came to matters financial. In God We…
#NewsBeep #News #Headlines #bondmarket #cashrate #Debt #donaldtrump #Finance #interestrates #lenders #RBA #ReserveBankofAustralia #TopNews #TopStories #USDollar
https://www.newsbeep.com/au/909153/

The RBA has no choice but to hike rates as US currency crown slips

It is a phrase synonymous with American dominance, especially when it came to matters financial. In God We…
#NewsBeep #News #Headlines #bondmarket #cashrate #Debt #donaldtrump #Finance #interestrates #lenders #RBA #ReserveBankofAustralia #TopNews #TopStories #USDollar
https://www.newsbeep.com/au/909153/

https://www.europesays.com/conflicts/13483/ The RBA has no choice but to hike rates as US currency crown slips #BondMarket #CashRate #debt #DonaldTrump #Finance #InterestRates #lenders #rba #ReserveBankOfAustralia #USWarNews #USDollar

The RBA has no choice but to hike rates as US currency crown slips

It is a phrase synonymous with American dominance, especially when it came to matters financial. In God We…
#Economy #bondmarket #cashrate #centralbank #CentralBanks #debt #DonaldTrump #Finance #interestrates #lenders #RBA #ReserveBankofAustralia #usdollar
https://www.europesays.com/3277799/