RaymondPierreL3And finally (well, maybe not, let’s see how the evening will pan out) here is #GregJericho going hoarse for having to repeat himself so often before peeps (including politicians and #NeoLiberal economists) finally get the message.
“It’s quite incredible just how consistently wrong the Reserve Bank has been about the economy this year. And today’s unemployment figures for April reveal once again how utterly detached from the reality of the economy those running our central bank are.”
I’m not convinced the #RBA ‘s functions need to be brought back under govt control, but I am convinced that the present composition of the #RBABoard needs another sweep of the broom and more changes in the appointment process.
I make no appologies for quoting so much of what is produced by the #AustraliaInstitute and its usual contributors. After all, they are a lone voice of rationality in our chaotic neoliberal economic fiasco and one of the few think tanks concerned with every day Australian’s welfare.
RBA misreads the economy again as unemployment climbs to 4.5%
The Reserve Bank of Australia (RBA) have long complained that too few people are unemployed. They will no doubt be happy then that unemployment in April rose to 4.5% - the highest level since 2021 – and before the full impact of the rates rises this year take effect.