I agree with your regard for the RBA. but Chalmers? I've avoided giving my opinion on his latest whinge because I think he's being taken out of context. "smashing the economy" is what the interest rate is supposed to do. just like giving a person with a bacterial infection a course of antibiotics, the drug smashes most bacteria, including the ones that are causing the problem. getting rid of the bad bacteria using particularly broad spectrum antibiotics is a harmful means of fixing the problem.
perhaps some day the economists, like the Pharma companies, will invent a new, small spectrum means of smashing the particular problem without harming the rest of the ecology involved.
Chalmers, as you describe in the last para, is a party politician. so of course he's after votes. this is the problem of parties that idiots get put in charge of important matters of the economy. imagine if Taylor becomes Treasurer. . ---==> would things be better with such a total ignoramus in charge?
. ---==> would things be better with such a total ignoramus in charge?
