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The Forum > Article Comments > Canberra must make the hard decisions now to control inflation > Comments

Canberra must make the hard decisions now to control inflation : Comments

By Graham Young, published 8/5/2023

RBA governor, Philip Lowe, has fired a warning shot over the bow of the federal treasurer by raising official interest rates another quarter of a percent this week.

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I agree, Lowe will repetitively pull the interest trigger. But that's partly because his million-bucks salary says he can't directly criticise, Chalmers repetitively pulling the immigration trigger.

Ever since Albanese and Chalmers took the helm in 2019, they have been hellbent on taking immigration to levels never before seen. Even when Chalmers pulls back from 400K to 315K in tomorrow's budget, that is still an all-time level. And 50% above Frydenberg's number, for 2022-23.

In part, this is just lazy economics. Who needs productivity, when population is so much easier? But it is also rank ideology. Albanese, Chalmers, O'Neil, Giles and Leigh, they are all United Nations open-borders nutters. They're totally fine, if that inflicts per-capita recession.
Posted by Steve S, Monday, 8 May 2023 8:15:07 AM
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The 'shock-horror' that comes with every rate rise would be better directed at the inflation rate, Labor’s traditional inability with money, and at the the Treasurer, as per Pauline Hanson's latest cartoon depiction of the fool.

Prices will continue to rise; homelessness will continue to rise; immigration will continue to rise; government spending and waste will continue to rise.

Worst of all, Australians will continue to keep their heads firmly up their bums, oblivious of the fact that they deserve the governments they get as long as they keep voting the thoughtless way that they do
Posted by ttbn, Monday, 8 May 2023 9:11:42 AM
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As I have stated several times, Australia’s worst enemy are Australians !
Posted by Indyvidual, Monday, 8 May 2023 9:54:05 AM
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Yes, they should Graham.

Tired of them telling us what they cannot do and will not do. All our inflation is related to the cost of energy!

No ifs, buts or maybes. And we are not assisted by foreigners deciding what we will pay for OUR GAS and OUR COAL!

When we develop these resources, we use Aussie knowhow, Aussie labour and pay for the development with Australian money!

We need to re-establish control over what we pay for OUR GAS and OUR COAL. We do this by firing a warning shot over the bow of these foreign speculator by lifting the self-imposed moratorium on nuclear power. And starting ASAP to build MSR thorium power plants as mass produced and ready to operate once installed and fuelled.

As we do this with power plants and fuel, we still own and control, we will serve notice on the foreign price gouging, tax avoiding, profit repatriating R soles, that they need to lift their game or F off.

We can do it with the assistance of cooperative capitalism and a number of funded and facilitated Aussie co-ops, all competing fiercely for the energy dollar.

Co-ops were the only free market, private enterprise business model that survived the Great Depression largely intact.

And if you do not see another one coming, then my friend, you are wilfully blind. And economic charts just muddy the water and solve nothing.
Alan B.
Posted by Alan B., Monday, 8 May 2023 11:33:01 AM
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Indyvidual

Too right they are! They think that politics and what happens to them is entirely the business of politicians. And the politicians are quite happy to dictate to such stupid people. Politics just means the tedium of compulsory voting to most ot them: and even then then they just follow how-to-vote cards, like sheep, at the very last minute.
Posted by ttbn, Monday, 8 May 2023 12:27:18 PM
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The IPA has forecast that the Albanese government's spending will drive inflation even higher, and add $3,000 per annum, for the next three years" to the average mortgage.

The Albanese gang's spending is estimated to rise by at least 4.6%, pushing up inflation a further 1.6% over that time. "“Reckless levels of government spending are the root cause of Australia’s current high inflation…".
Posted by ttbn, Monday, 8 May 2023 1:20:10 PM
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