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rba should put a sock in its mouth, page-8

  1. 3,134 Posts.
    RT,
    I have to disagree with RBA raising interest rate again. This inflation is a cost-push inflation as oppose to a demand-pull inflation.
    Prices of basic stuff have gone up due to the drought and now the flood. Petrol prices are higher, public transport fares have gone up (in Sydney )because of gross incompetency and inefficiencies in the public transport system. Inefficiencies in a scale I have never witness before. Then there are the ever increasing fees and charges to make up for losses elsewhere. Not to mention price collusion which is not suppose to happen. Non-productive expenditure has increased.
    The average bloke is getting hammered because of rising cost and to make ends meet has to borrow more, which compounds his problem.
    Sure there are more Maserati and million$ home sold because a few groups are doing very well in this commodity boom and open trade bringing in cheap imports.
    All this talk about more job advertisements that justify a shortage of labour (and stats use to justify rate increase) is something I find it hard to believe. In the past, a company say NAB would have its HR advertise a position. Now with outsourcing, maybe 3 to 4 companies are advertising the same position. Also, Johnny H uses those figures to justify more 475 visas to push through his IR reforms. Hope Kevin Rudd does something about this quickly. Replace - self censored - that panders to JH agenda should be a priority.
    But, IMO another rate rise would not happen within the next two months. Kevin should not allow it to happen. Leadership is required here.
 
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