Bobadah agree with you on many points, but I know people who...

Bobadah agree with you on many points, but I know people who suffered
from Paul Keating's recession "we had to have"

Interest Rates rose to around 17 % in his period.

The following from the Australia Institute indicates that price and profit gouging
are real and present dangers, both here and overseas.

Quote
“Australia isn’t experiencing a wage-price spiral, it’s at the beginning of a price-profit spiral,”
said Dr. Richard Denniss, chief economist at the Australia Institute.
“The national accounts show it is rising profits, not rising costs, that are driving Australia’s inflation.
While workers are being asked to make sacrifices in the name of controlling inflation,
the data makes clear that it is the corporate sector that needs to tighten its belt.
“While companies are arguing that they have ‘no choice’ but to increase their prices,
the fact that they are making record and rising profits is proof of how many choices they really have.
“It’s a shortage of competition, not a shortage of skilled labour, that is driving up the cost of living in Australia.

“Wages made no contribution to Australian inflation in 2019-2020, or 2020-2021, and accounted for only 0.6 percentage points of the 4.1 percent increase in prices so fat this financial year.“The European Central Bank recently analysed European price and wage data and concluded that ‘profits have recently been a key contributor to total domestic inflation,’” Dr Denniss said.The ECB report continues:“To put it more provocatively, many euro area firms, though by no means all, have gained from the recent surge in inflation. The fortunes of businesses and households have diverged outside of the euro area, too, with corporate profits in many advanced economies surging over the past few quarters. End of Quote

Are any top executive salaries under threat, while honest smaller businesses suffer?

One area that needed a cap on prices is property which could have been
controlled by stricter bank lending regulation, rather than the blunt
instrument of interest rate hikes. Some modest increases yes.
But not savage hikes that reduce spending power.
Price extortions reduce money value greatly.

Property price and rental increases do nothing for individual economic
well-being unless people sell for a profit and live on a beach
which is hardly a desirable outcome.

Banks making irresponsible loans are a clear example of greed.
Low interest rates assist lower end businesses and encourage productivity.

Wage increases would help the economy more than interest paid to banks
and would do a lot more to curb corporate greed, while adding
to honestly priced profits. Is honesty unfashionable?

Regards, Recherche