Kent ParkstreetMar 17

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

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 threadSu_G

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

8:03amWeb
Show threadBot4Sale4h 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