#YanisVaroufakis screams the *Obvious* in this Guardian Article. The #RBA decision to hike up the #CashRate ‘is not an anti-inflation policy. It is a cynical transfer of income from people who did not cause the problem to people who are, in fact, profiting handsomely from it.’ (Souce: https://www.theguardian.com/commentisfree/2026/oct/04/yanis-varoufakis-australia-interest-rate-rise )
Not only are the #Oil importers fleecing all and sundry while the #US-Israeli war on #Iran and the #Russian war on #Ukraine provide the excuses to raise the price of a barrel, but the #GasExporters are racking it in because of increased demand worldwide. And in Australia, these gas #Grifters are profiting from minimal tax to no export tax whatsoever allowing #Japan to buy the Gas more cheaply and onsell it (some of back to Australia now and again) for a #profit (another cause of inflation). Meanwhile, every Australian #mortgagee is paying for it. Hence Varoufakis’s righteous indignation:
“No plausible rise in the cash rate will open up the strait of Hormuz, or convince Gulf insurers to lower their premiums, or compel a barrel of Brent crude priced in a global market to come down because a Melbourne mortgage holder is stressed. What it will do is suppress Australians’ spending, wages, their ability to keep a roof over their heads, ultimately their economy’s capacity to invest and to produce. It is a little like treating a broken leg by amputating the healthy one.”
No *wage earner* should put up with this vile economic trickery or the politicians who complicitely enable the #plunder of our #resources and our meagre, hard-earned income. It’s time to put **real representatives** in Parliament and not *stooges* for the #RentierClass
Is it any wonder that #PHON appeals to the *Plebs* when #Poorlean taps into this kind of #Injustice ?
#AusPol #EconomicRationalism #WealthTransfers #UnDemocracy #RapingTheEconomy #ScroogesGalore #TaxGas #TaxTheRich #TaxReform #RBAreform #NeoLiberalism #NoMoreWars #Rentiers #StateCapture #EconomicTheft #NoMoreBillionaires #ClassWar #FossilFuelScam #GreedFlation #2028FederalElections #JoinYourUnion #inUnity
