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Freddy

I previously mentioned that I can’t see sustained inflation without corresponding wage inflation, and that government employees will not even be getting a 2% wage rise this year because “2% is much higher than the private sector”.

Along similar lines, if the government is continuing to throw the kitchen sink at stimulus then do we really have a sustained recovery? what are they trying to stimulate? what are they afraid of?

Freddy

Yes. It does seem to be a resumption of focusing on increasing GDP and House prices.

It is the continued stimulus though. The 2% deposits when house prices are rising fast, more helicopter money when the economy is supposedly booming. Something is not right. They are still very afraid of the economy turning to shit in quick time.

DjenkA

Have you contemplated a possibility is that Politico-Financial Complex is actually achieving a goal of perpetual endebtment?
Paying off debt is opposite goal, it is serviceability of it that they want.
Lower teh rates until everyone has debt to choke and then adjust the interest rates to maximum serviceable by average plebs for the length of their lives.
Banks will end up owning most assets, become landlords and new feudal class.
Owning assets in 100% will become unaustralian activity and this will becone mainstream etiquette.

Sacha

A warning from 200 years ago:
“I believe that banking institutions are more dangerous to our liberties than standing armies.
If the American people ever allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.
The issuing power should be taken from the banks and restored to the people, to whom it properly belongs” — Thomas Jefferson

The90kwbeast

Smart bloke it seems. Too late it’s already happening/happened.

Stewie

The purpose isn’t to grow wages so that these life long enslaving debts can be paid off in the fashion of the boomers, nay, the purpose of growing wages is that wages grow sufficiently so as to NOT threaten the ability of the debts to continue to be serviced.

Last edited 2 months ago by Stewie
DjenkA

Agree, see my comment above.

Winning@Failing

Verrender on point (He’s just stating the obvious)

https://www.abc.net.au/news/2021-05-11/budget-cash-splash-comes-from-good-luck-and-good-management/100131302

Keen to see how the holes in the ground tax gets pork barrelled.

Gouda

Adams is definitely better when he sticks to economics, although it was amusing when he went troppo over US election conspiracy theories.

DictatorDavid

I got a good lol when I saw it

LSWCHP

I’m betting that mass immigration will be reintroduced as soon as they can do so while still having a chance of being re-elected. Some major distractions will come down the pipeline…,”look.. a squirrel”…to take the eyes off the immigration floodgate.

All they have is mass immigration by third world savages. Nothing else. They care not a jot for the organic production units of the EZFKA.

The90kwbeast

Absolutely. Frydenburg couldn’t have been clearer, refer the post from a few days back on this site.

robert2013

Yeah and squirrels are a foreign pest too.

harry

On a lighter yet somewhat depressing note,

https://mobile.twitter.com/oldroadside

pfh 007

A massive pre-election vote buying exercise at the expense of future generations.

One of the greatest failings of the ALP and the Greens is their inability to comprehend why public debt matters.

As a consequence they rightly get flogged if they incurr public debt and yet seem unable to understand why they should be flogging conservatives when they incurr mountains of public debt…on pork and mates.

Until the ALP and Green understand the difference between interest bearing public debt and a larger interest free central bank balance sheet they will continue to get flogged by conservatives and be left looking slackjawed and paralysed and stuck in opposition.

But of course if they wanted to do something about the problem they would have to end the monopoly and hijacking of the central bank by the bankers and they lack the wit and spine to launch reform on that farce. Until they allow non-banks and the general public to operate accounts at the RBA the central bank balance sheet will remain a puny joke with little to do beyond facilitate the business model of our hopelessly incompetent, dysfunctional and bloated banks.

Not that they get much support from the progressive chattering classes / chattering press who care so much but not enough to call out the banker centric public monetary model that fluffs the prices of their assets