Brad3d ago
lucie digitální

It seems self-evident to me that a sharp increase in petrol prices will be almost immediately effective in reducing 'excess demand' in the economy.

But I'm not a sociopath commited to a discredited economic orthodoxy, unlike five members of the RBA's Monetary Policy Committee.

#AusPol

Mar 17 at 8:40amWeb
Show threadstib3d ago
@luciedigitalni I heard a comment, I think it was on Greg Jericho's podcast, that that lives rent-fee in my head. It was about how you could achieve the same demand-reducing effect as yoiking up the interest rates by just increasing the percentage of workers wages that go into compulsory super. This would slow down demand, but by deferring the pay to the future and taking pressure off the pension, instead of just handing a bunch of worker's money to the banks.
https://australiainstitute.org.au/news/category/podcasts/dollars-sense/
Dollars & Sense

The Australia Institute
Show threadlucie digitální3d ago
@stib yes, a much better approach.
Show threadrainynight653d ago

@luciedigitalni As @thejuicemedia postulated in one of their 'Honest Government Ads', if more people knew what the RBA really does, that joint would probably be on fire.

For reference: https://youtu.be/DNxXRigHri4 (sweary)

Honest Government Ad | the Reserve Bank of Australia

YouTube