Kent Parkstreet

The multimillionaires who staff the Reserve Bank of Australia have decided more unemployment is a good idea.

They all have enough money to ensure their children won’t have to work, probably their grandchildren.

They can’t imagine what it is to have to choose between heat and healthy food, having already lost all the things that provide status and comfort in our society.

#AusPol

Mar 17 at 8:11amWeb
Show threadOld_IT_geek I voted YesMar 17
@kentparkstreet1 It’s the model !!
Show threadlucie digitálníMar 17
@Old_IT_geek @kentparkstreet1 All models are wrong. Some models are useful.
Show threadOld_IT_geek I voted YesMar 17
@luciedigitalni @kentparkstreet1 We need an independent commission to review and correct Australia’s current economic modelling. I suspect many of the underlying Excel formulas are unchanged from Howard’s days as PM.
My experience working for a software company a long time ago receiving a panicked phone call from Treasury. They had linked 256 Excel spreadsheets That culminated into a single sheet which was the entire Australian economy. And it wasn’t working, I had to refer to the devs in the USA.
Show threadNuwagaba GiftMar 17
@kentparkstreet1
How will more unemployment benefit them?
Show threadKent ParkstreetMar 17

@nuwagaba2

They claim it will benefit the economy. I’m saying that’s easy to say if it won’t affect them or their family.

Show threadNuwagaba GiftMar 17
@kentparkstreet1
That's how they want their system to work because they care about nothing but their profits. Can I share with you about my project?
Show threadStephen GentleMar 17
@kentparkstreet1 I have a friend who hates that I refuse to call economics an actual science. Because it’s not - just look at how economists still believe that interest rates work to control inflation, but during the biggest inflationary episode in decades, countries that didn’t try to control it did better than those (like Australia) who tried. The control group did better than the intervention, but economists still blindly said that the RBA was “forced” to raise rates! It’s just unnecessary pain that makes things *worse*.
Show threadKent Parkstreet6d ago

@stephengentle

Just one lever to control a complex financial system seems poor planning.

For me it’s the way they treat unemployment as a statistic, not people, that’s irksome.

Show threadSu_G5h ago

RE: https://ioc.exchange/@stephengentle/116244601601041239

@stephengentle
Astonishing & counter intuitive: “during the biggest inflationary episode in decades [~2022], countries that didn’t try to control [inflation] did better than those (like Australia) who tried. The control group did better than the intervention…” 🤔
🙏🏻 for sharing the #IMF (International Monetary Fund) finding.👍

#AusPol #ReserveBank #inflation #IMF #economics

@kentparkstreet1

Show threadBot4Sale5h ago

@Su_G @stephengentle @[email protected] Economics is closer to Soothsaying than Science.

The muppets in the RBA demonstrate this on a regular basis.

#auspol

Show threadMatt Godden4h ago
@stephengentle @kentparkstreet1 It more resembles a theology, like Astrology.