http://www.news.com.au/business/money/story/0,28323,26275977-5016110,00.html
Never mix economy and political *******ry. Last Interest rate rise is a pure bluff.
Last rise means nothing apart that it shows that current RBA board has no concepts of decency, accountability and responsibility.
They have done 3 hikes back in 2007-2008 when in fact rates should have been cut. What it ended with - anyone home? It ended with lowest in 48 years rates.
Now when the real risk of deflation can be seen even by blind Freddy, they engage into same blunder again.
Why?
Simple.
1. Current board appointed by Howard/Costello and they know they about to expire, as an appointment was done in true Costello style - the single merit taken into account was loyalty to Libs.
2. Mr Turnbull is steering their party so well, so they are about to face early election (in other words electoral annihilation). RBA decided to come to a rescue
3. All of them have vested interest in keeping inflating sharemarket and repelling people from property.
Just take long hard look onto media. 2008 - "double digit interest rates" propaganda was still run on the day rates started crashing down. 2008-2009 - interest rates going down - but I do not remember a single day without someone barking "rates are not going to stay low forever".
I do not need even to comment on the last months - any people with brains shall smell a rat when they see such blatant , vicious and so poorly orchestrated brainwashing campaign.
Tatoo it on your forehead - there is nothing - I mean NOT A SINGLE fundamental in place that warrants even talk of rate rises.
And if you swim against fundamentals - economy will retaliate with the force which is exponential to the effort you apply to defy economic fundamentals.
Any more of that cowboy style monetary policy from RBA - and they are done. To my surprise Government demostrates balanced and economically literate approach to the issue - which is uncharacteristic for Labor.
I have sneaking suspicion that BBQ to grill Mr Stevens' testicles is already on a full heat.
Never mix economy and political *******ry. Last Interest rate rise is a pure bluff.
Last rise means nothing apart that it shows that current RBA board has no concepts of decency, accountability and responsibility.
They have done 3 hikes back in 2007-2008 when in fact rates should have been cut. What it ended with - anyone home? It ended with lowest in 48 years rates.
Now when the real risk of deflation can be seen even by blind Freddy, they engage into same blunder again.
Why?
Simple.
1. Current board appointed by Howard/Costello and they know they about to expire, as an appointment was done in true Costello style - the single merit taken into account was loyalty to Libs.
2. Mr Turnbull is steering their party so well, so they are about to face early election (in other words electoral annihilation). RBA decided to come to a rescue
3. All of them have vested interest in keeping inflating sharemarket and repelling people from property.
Just take long hard look onto media. 2008 - "double digit interest rates" propaganda was still run on the day rates started crashing down. 2008-2009 - interest rates going down - but I do not remember a single day without someone barking "rates are not going to stay low forever".
I do not need even to comment on the last months - any people with brains shall smell a rat when they see such blatant , vicious and so poorly orchestrated brainwashing campaign.
Tatoo it on your forehead - there is nothing - I mean NOT A SINGLE fundamental in place that warrants even talk of rate rises.
And if you swim against fundamentals - economy will retaliate with the force which is exponential to the effort you apply to defy economic fundamentals.
Any more of that cowboy style monetary policy from RBA - and they are done. To my surprise Government demostrates balanced and economically literate approach to the issue - which is uncharacteristic for Labor.
I have sneaking suspicion that BBQ to grill Mr Stevens' testicles is already on a full heat.
about economics), the current government has left the RBA with little option. If they wish to tame the inflation monster, wouldn't it be more worthwhile for Swan and Rudd to cut the stimulus still in place to avoid the overheating?
