#economomy — 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