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The RBA is coming under increasing pressure to ease rates, not because inflation has been tamed, but because people are hurting.Sally McManus who is I gather, an expert on employment, has joined a throng of unionists outside the RBA headquarters protesting about the RBA not reducing interest rates.From Evil Murdoch Press[ATTACH=full]189148[/ATTACH]Its the first time I have heard that the RBA's job is to ensure full employment.Melbourne University professor of Economics , Jeff Borland agrees with the ACTU head, though I find his logic somewhat puzzling.[ATTACH=full]189151[/ATTACH][ATTACH=full]189152[/ATTACH]its the first time I have heard that government aligned jobs have a built in protection that stopped them from generating inflation.Unfortunately the good professor did not go on to elaborate.ut if the various levels of government are increasing the money supply by paying many more workers, its going to lead to more and more people chasing a finite supply of goods, which is the classic method of generating inflation.Both professor Borland and the ACTU will be right royally pi$$ed off as the RBA has just announced it is keeping rates on hold.Mick
The RBA is coming under increasing pressure to ease rates, not because inflation has been tamed, but because people are hurting.
Sally McManus who is I gather, an expert on employment, has joined a throng of unionists outside the RBA headquarters protesting about the RBA not reducing interest rates.
From Evil Murdoch Press
[ATTACH=full]189148[/ATTACH]
Its the first time I have heard that the RBA's job is to ensure full employment.
Melbourne University professor of Economics , Jeff Borland agrees with the ACTU head, though I find his logic somewhat puzzling.
[ATTACH=full]189151[/ATTACH]
[ATTACH=full]189152[/ATTACH]
its the first time I have heard that government aligned jobs have a built in protection that stopped them from generating inflation.
Unfortunately the good professor did not go on to elaborate.
ut if the various levels of government are increasing the money supply by paying many more workers, its going to lead to more and more people chasing a finite supply of goods, which is the classic method of generating inflation.
Both professor Borland and the ACTU will be right royally pi$$ed off as the RBA has just announced it is keeping rates on hold.
Mick
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