#gregjericho — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #gregjericho, aggregated by home.social.
-
@gusseting
You might well be. You don’t have to defend yourself, It’s no my wish to put you in that position. I merely pointed out that useful discussions are those where there is a single and clear topic and that divergences are distracting and can be misconstrued, that’s all.
And yes, you were alleging @johnquiggin is bought by the #FossilFuelLobby. He is an academic of good reputation and does have #economic insights that are worth considering no matter which side of politics one supports IMHO. As for the #AustralianInstitute, I like what #RichardDenniss and #GregJericho have to say almost without excception (Neither of them are bought by #Fortesque or the fossil lobby BTW).I don’t really want to argue with you. Thruth be known I abhor confrontations, physical or otherwise. Let there be peace between us dear tooter.
#AusPol -
As expected, #GregJericho does not mince his words in his latest criticism of the #RBA. In fact, he shows the RBA for what it truly is, a proxy for the #BCA (Business Council of Australia), the all powerful #NeoLiberal #Lobby.
“the RBA really does not give one damn about inflation or even “inflationary expectations”. Truly – Michele Bullock has belled the cat on this now that she has admitted raising interest rates has nothing to do with inflation.
All the RBA cares about is wages growth – they do not, under any circumstances, want workers to think they should be getting a decent wage rise.
Company profits? Oh gosh, well, those need to remain strong. Bullock told reporters that companies should raise their prices to cover costs, because otherwise, in her words, “they would go bust”.
Read more: https://thepoint.com.au/opinions/260506-rbas-decision-to-raise-rates-hurts-australians-for-no-reason
#TaxTheRich #AusPol #JoinYourUnion #WorkersUnite #NoMoreBillionaires #RegulateTheMarkets #DisempowerTheBanks #ProgressiveLegislationNow #TaxReformNow
-
It sounds like #GregJericho is about to throw in the towel and give up any hope that the #RBA will mend its ways and hence forecasts a #Recession… eventually.
“At least the impact is not as large as it was in 2022 and 2023 when profits soared after Russia invaded Ukraine, causing oil, gas and fertiliser prices to spike.
Good thing nothing like that has happened recently … oh wait, I am being handed a note.
And so, we wait to see the damage in the March figures and know that, regardless of the cause of inflation, the RBA is likely to blame workers – and they will hold to that view even if it means a recession.”
Read the article here:
https://www.theguardian.com/business/grogonomics/2026/mar/26/australia-inflation-profit-margins-fuel-crisis-supply-chain-shock
#AusPol #Economy #Inflation #NeoClassicalEconomics -
[edited for typos]
#GregJericho lays into the #RBA ‘s latest gaffe.[The RBA said] “in addition, the conflict in the Middle East has resulted in sharply higher fuel prices, which, if sustained, will add to inflation. Short-term measures of inflation expectations have already risen. As a result, the Board judged that there is a material risk that inflation will remain above target for longer than previously anticipated.” This is a total failure of basic economics, and suggestive of a panicked RBA board.
The impact on oil prices is due to the attacks on Iran and the blockage of cargo through the Strait of Hormuz. Nothing the RBA does will affect that.”
Read that again: “NOTHING the RBA does” will mitigate fuel cost increases due to the crisis in the MIddel East.
It couldn’t be clearer. An Economics 101 student would not even need the clarification. What is the RBA doing FFS? It seems clueless at times.
-
I never get tired of tooting #GregJericho ‘s articles, because what he says, most of the time, is not just informative, it’s a booster shot against the #FakeNews and #EconomicMisInformation the #msm spews out — unfortunately with that much misinformation being the main narrative of all but a few news outlets and the #FifthEstate, a lot of it is bound to be believed as truth: like the furphy about increasing wages driving up inflation — everyone should know by now the inflationary dragon is #GreedFlation.
“There hasn’t been a wage breakout since I was in primary school but do not worry – the RBA is still on the watch, ever on alert to raise interest rates in an effort to increase unemployment and lower wage growth.”
Read more:
https://www.theguardian.com/business/grogonomics/2026/feb/18/real-wages-fall-australia-workers-economyBut the RBA is not about to let a debuked economic theory go to waste. So Greg is warning us of another rate rise likely to come if the RBA stays true to form — and why shouldn’t it?
Read more:
https://thepoint.com.au/opinions/260220-dont-panic-rba-low-unemployment-is-a-good-thing#RBA #NeoClassicalEconomics #NeoLiberalEconomics #AusPol #CashRate #Inflation #WageGrowth
-
Are we starting to see some sort of pushback against the neoliberal thinking of the majority of economists who harp on about the wage-inflation spiral — or to put it another way the need for some workers to live on the dole so that the rest of us can have a more confortable life free of inflationary pressures.
Here is someone other than #GregJericho of The Australian Institute that also thinks this #RBA mantra is utter bull dust.
“…[economists] obsess about an oft talked about, but mysterious concept called the NAIRU, the non-accelerating inflation rate of unemployment.
The theory goes that, if you have just the right amount of workers on the unemployment scrap heap, you can keep inflation in check.
The problem is that no-one knows exactly what the magic unemployment rate is. Even more confusing, it seems to change and, on occasions, such as the past few years, not hold true at all.”
Read more
https://www.abc.net.au/news/2026-02-21/why-economists-hate-low-unemployment-for-inflation/106367852#unemployment #WageInflationSpiral #NAIRU #Economy #AusPol #NeoClassicalEconomics #NeoLiberalEconomicTheory
#CapoitalismUnbound