#cashrate — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #cashrate, aggregated by home.social.
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It will sound repetitive, but while what #AmyRemeikis writes here has been written before it doesn’t mean its superfluous because it hasn’t penetrated the electorate’s collective minds deep enough to make change happen, hence it needs to be said, again and again.
The #EconomicRationalists on the #RBA board spruking their madcap #NeoLiberal mantras are a bunch of absolute *Cultists* , unswayed in their *Monetary Crusade* to impose **austerity** on innocent *punters* come what may.
The RBA #CashRate hike is the predictable act of an economist wedded to a debunked economic system and incapable of understanding how a *Society* behaves beyond their simplistic *economic behaviour* theory, inthralled by their blind faith in the *Markets* self-balancing powers. All of this was debunked decades ago of course.
“Domestic data does not support the decision to raise interest rates. Being wrong in the right company (the market and conservative economists) might make for easier dinner parties and congratulatory op-eds in the financial pages, but it does nothing to look after the welfare – economic and otherwise – of the Australian people.
The RBA board would refute that of course, and trot out the same arguments that the pain is necessary to stop worse down the road. Which would be true, of course, if individual households had any control over the spending that is driving inflation”
Meanwhile, the independence of the RBA board, its decisions and its set inflation range make govt intervention in the markets all the more difficult if not impossible. The economic system is rigged and not to our greater social benefit.
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It will sound repetitive, but while what #AmyRemeikis writes here has been written before it doesn’t mean its superfluous because it hasn’t penetrated the electorate’s collective minds deep enough to make change happen, hence it needs to be said, again and again.
The #EconomicRationalists on the #RBA board spruking their madcap #NeoLiberal mantras are a bunch of absolute *Cultists* , unswayed in their *Monetary Crusade* to impose **austerity** on innocent *punters* come what may.
The RBA #CashRate hike is the predictable act of an economist wedded to a debunked economic system and incapable of understanding how a *Society* behaves beyond their simplistic *economic behaviour* theory, inthralled by their blind faith in the *Markets* self-balancing powers. All of this was debunked decades ago of course.
“Domestic data does not support the decision to raise interest rates. Being wrong in the right company (the market and conservative economists) might make for easier dinner parties and congratulatory op-eds in the financial pages, but it does nothing to look after the welfare – economic and otherwise – of the Australian people.
The RBA board would refute that of course, and trot out the same arguments that the pain is necessary to stop worse down the road. Which would be true, of course, if individual households had any control over the spending that is driving inflation”
Meanwhile, the independence of the RBA board, its decisions and its set inflation range make govt intervention in the markets all the more difficult if not impossible. The economic system is rigged and not to our greater social benefit.
-
It will sound repetitive, but while what #AmyRemeikis writes here has been written before it doesn’t mean its superfluous because it hasn’t penetrated the electorate’s collective minds deep enough to make change happen, hence it needs to be said, again and again.
The #EconomicRationalists on the #RBA board spruking their madcap #NeoLiberal mantras are a bunch of absolute *Cultists* , unswayed in their *Monetary Crusade* to impose **austerity** on innocent *punters* come what may.
The RBA #CashRate hike is the predictable act of an economist wedded to a debunked economic system and incapable of understanding how a *Society* behaves beyond their simplistic *economic behaviour* theory, inthralled by their blind faith in the *Markets* self-balancing powers. All of this was debunked decades ago of course.
“Domestic data does not support the decision to raise interest rates. Being wrong in the right company (the market and conservative economists) might make for easier dinner parties and congratulatory op-eds in the financial pages, but it does nothing to look after the welfare – economic and otherwise – of the Australian people.
The RBA board would refute that of course, and trot out the same arguments that the pain is necessary to stop worse down the road. Which would be true, of course, if individual households had any control over the spending that is driving inflation”
Meanwhile, the independence of the RBA board, its decisions and its set inflation range make govt intervention in the markets all the more difficult if not impossible. The economic system is rigged and not to our greater social benefit.
-
It will sound repetitive, but while what #AmyRemeikis writes here has been written before it doesn’t mean its superfluous because it hasn’t penetrated the electorate’s collective minds deep enough to make change happen, hence it needs to be said, again and again.
The #EconomicRationalists on the #RBA board spruking their madcap #NeoLiberal mantras are a bunch of absolute *Cultists* , unswayed in their *Monetary Crusade* to impose **austerity** on innocent *punters* come what may.
The RBA #CashRate hike is the predictable act of an economist wedded to a debunked economic system and incapable of understanding how a *Society* behaves beyond their simplistic *economic behaviour* theory, inthralled by their blind faith in the *Markets* self-balancing powers. All of this was debunked decades ago of course.
“Domestic data does not support the decision to raise interest rates. Being wrong in the right company (the market and conservative economists) might make for easier dinner parties and congratulatory op-eds in the financial pages, but it does nothing to look after the welfare – economic and otherwise – of the Australian people.
The RBA board would refute that of course, and trot out the same arguments that the pain is necessary to stop worse down the road. Which would be true, of course, if individual households had any control over the spending that is driving inflation”
Meanwhile, the independence of the RBA board, its decisions and its set inflation range make govt intervention in the markets all the more difficult if not impossible. The economic system is rigged and not to our greater social benefit.
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#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
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#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
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#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
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#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