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Canberra must make the hard decisions now to control inflation : Comments
By Graham Young, published 8/5/2023RBA 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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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.