Walk The World
More from the Senate as they probed the RBA Governor, this time the discussion related to the cause of inflation. Governor Lowe conceded they had stoked inflation by monetary stimulus and low rates (and over did it). But then tried to defend the decision.
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They are dragging their feet on increasing the rates to stamp out inflation yet other countries foresee this and are increasing rates. Lowe is still behind the ball and is more about his image rather than doing any decent forecasting. He "thinks" he can be trusted, inspires confidence this bloke.
So basically.
1. We dont know anything.
2. It is what it is.
3. Anything we do makes things worse.
4. Its not our fault.
5. Pay me more money for a luxury retirement.
Nope, the RBA are the problem! (and their central banking friends)
Of course. That's what Central banks do
And governments are there to fix the problem to make things worse
Ukraine, blame Ukraine – what the fuck has a country like Ukraine got to do with Australia….the fuel price rise is not due to Ukraine; check the WEF policy on abandoning fossil fuels for the green agenda….get the picture
Lowe just said before that their goal was achieving a 2.5% 'inflation problem'
So they decide on monetary policy based off emotion? I thought it was based off models….
What a Piss Take
> I was really scared of lockdowns @6:22
Lol
Oh Philip you are so cringy.
Phil Lowe follows his orders from Big Klaus Lowe is just a useful idiot
Well … People's greed added to the fuel … People equal everyone …. Including politicians
👆 – BEAUTIFUL GIRLS HERE 🥰💑l🔥
Oh please! We're not all Muppets! Help cause inflation? Central Banks are the sole cause of inflation.
Truth in a central bank, that's an oxymoron if I ever heard one.
The RBA printed $ out of thin air. Money printing is always wrong
This is what happen when you have zero "skin in the game." These words mean zero in day to day life. FYI trends prior to covId blah blah blah was heading to depression!
RBNZ also admitted it printed to much
capital into the economy and now has to call a recession with a 75 BP rise on top of existing rises with a possible 75bps in Feb 2023.
Governor Orr has said it would be prudent to spend thrifty at Xmas.
Interesting that the price of money issue is seen to relate to the recent past, but arguably has been too cheap for too long.
Im really annoyed with the lack of memory from a lot of people of what happened in the first part of 2020. There was intense pressure from the media and the general population to print money. There are several articles with discussions of "saving lifes vs the economy", and "saving lifes" won. If you dared mention that economy should be taken care of, you would be called selfish, that you only cared about money, you would be asociated with alt right elements, etc. They would get really violent and it was impossible to speak freely. Then who is responsible? The many people that strongly supported eternal lockdowns, there is plenty of evidence on social media of their nasty comments against anyone disagreeing.
😆 🤣 😂… all the talks on negative cash rates and rates won't change till 2024 couldn't have caused inflation…
1930s, inflation was underestimated and central bank rate increases slowed, and that triggered the great recession.
I remember reading in the book by John Howard “Lazarus rising “ how the liberal coalition was against floating the dollar and selling off the banks and went against Treasury advice to do so and were promptly voted out of office with the new Hawke and Keating administration promptly bringing it in
Makes you wonder who is running the country it certainly isn’t going to be canavan and Rinnekcs even though they seem to express a lot of the common sense we seem to all agree is good information.
“Caveats “ I hate that word I remember many people in the banking industry use this as a “get of jail “ free card
This guy very much like Putin, trying to talk himself out of the shit hole every time, blame the entire world but RBA & himself, I THINK the name should be his IQ- " LOW "
If only the senator got straight to the point and asked "Is the RBA's polices for the past 60 years responsible for bankrupting Australia? – Yes or No", the audience can see the RBA's true colors.
Covid and the Russian invasion aside rates should never have been so low to begin with. That just gave inflation the perfect grounds to grow wildly out of control.
“It was dire…it was scary” ….ah ok, then let’s print up some cash. Everything going to be ok, Santa is here
Criminals he should be sacked immediately. John Adams would do a better job
Yes and any politician of head of a Government Department F××ks up nothing happens . Still get their golden Handshake 🤝 for a job well done , Maybe like a business that makes a bad investment and goes belly up, they loss everything as well.
Looking forward to similar honesty from a few other bureaucrats, particular in regard to how no- liability/experimental transitioned to sudden/unexpected
Phil’s exit strategy is in motion.
Dr low is not stupid. It would be difficult stairing Dow economic impacts never seen before and making big decisions that impact everyone.
Martin North Said the market would collapse but it boomed. Both Martin and Phillip were correct in their modelling however they can't predict future variables. Massive stimulus, a quick recovery, vaccines etc.
They got it wrong. No one can predict the future.
It's was never going to be transitory and they have always known it.
Canavan the climate change denier.
“It was really really scary”
Not nearly as scary as losing your home, not being able to pay bills
Wish I could blame the phantom for my mistakes
END THE RBA !
It was a political decision to leave interest rates so low when it was obvious all the stimulus money would raise inflation. They didnt want the then Liberal government to look bad with mortgage holders. How many of the RBA team vote labor , zero. they didnt want murdochs cronies to look bad with an election coming up.
Lowe looks like a kid who got caught smoking at school. Who knows how much Morrison presured him to keep lighting up when he worked out it was bad for him and everyone.
When the wheels eventually fall off. And they will eventually. Just remember the bankers and politicians that made it happen. They shouldn't be given the opportunity to even offer CBDCs as a solution.