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18/06/24
22:55
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Originally posted by ezirida:
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don't worry, the RBA were telling the LNP, warning the LNP for years about the reliance on monetary policy to stimulate the economy while the LNP literally sat on their hands refusing to fiscally stimulate the LNP always has the same question to the RBA 'we needs jobs, we need growth, what are going to do about that Phil? Phil warned them about asset inflation as a result of excessive easing well we got our asset inflation and now we've got an economy so brittle and so unproductive so exposed to property and land value that the RBA is literally an almost irrelevant organisation because the levers it can pull have absolutely no effect on the assets / cost inputs / price makers that drive price inflation exit Philip Lowe, enter Ms Bullock the only thing that tightening monetary policy is guaranteed to do is pile on the misery for Australia's lower middle and from the text of her remarks the pain for ordinary Australians is only going to get worse Philip Lowe was dead right all along.. everything he predicted has come to pass and the consequences are there for all to see
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Morrison's "aspirational" voters, the first home buyers he pulled with massive grants (to cover the state stamps), now realising the consequences of believing the hype. imo much of his campaign was in making young adults feel great because they listened to him. wot a shonk. you'd recall when Frydenberg brought Lowe into Fry's office? Nov '19.