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The Forum > Article Comments > Wanted: some out of the box thinking at the RBA > Comments

Wanted: some out of the box thinking at the RBA : Comments

By Jonathan J. Ariel, published 12/9/2019

The RBA has pushed interest rates down about as far as they can go and needs to look at other remedies to make the economy grow.

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ALTRAV

You wrote;
No I believe that the thieves we voted in over the years have had an evil and self serving agenda, and completely free hand to do what they wanted and say what we wanted to hear.

My comment:

I am not sure "evil" is the correct adjective. I tend to go with "self serving" or "self interested" behaviour is the prime motivator of most politicians.

You wrote:
A major problem being that govt ministers are just people with no experience at running a country, let alone running a business.
They are in the job, only for what they can get out of it.

My comment:

Spot on, when you all out their woeful lack of experience. I recall (then) Sen Sam Dastayari "grilling" bankers in the lead up to the Royal Commission. He thought much of his skill, but given the lack of insight in his questions, the bankers thought xmas came early as they need not have bothered to prepare the Senator tickling their proverbial tummies.

You wrote;
... because Aussies, like some other countries, are too well off and too slack to give a sh!t.

My comment:

I agree. We are mostly apathetic and accepting of what Canberra tells us. Few of us question.

You wrote;
So the prognosis is bad, we are heading into a very gloomy future...,

My comment:
So you'd prefer a Lee Kwan Yew kind of PM? Someone who we'd vote in to do what needs to be done without the chronic debates, environmental impact statements and an assortment of First World BS that magically has escaped politicians in economic powerhouses like the PRC, The Republic of Korea and Vietnam?
Posted by Jonathan J. Ariel, Sunday, 15 September 2019 10:17:08 PM
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Aidan, you wrote:

For the past third of a century, Australia's decision to be a high wage country has served us well. So why do you want to revert to third world conditions?

I disagree. High wages has not served us well. The high minimum wage (and assorted penalty rates) are the reasons small businesses do not operate 7 days a week. They are forced to pay rent 7 days a week but it is not economic for them to open their doors and engage staff on Sat/Sun given the pay rates. Surely there are unemployed or underemployed folk who'd be happy to work on the w/ends at regular rates of pay? That would allow many businesses to open 7 days and employ those who would otherwise be unemployed.

Also, our high wages is why we're a manufacturing pygmy when compared to others. We are not globally competitive in much other than what we mine or drill for.
Our raw material wealth is what has stifled our ability to becoming a world leader in any manufactured product. When we do make things, it's often subsidised by the taxpayer in order to keep paying some folk wages a free market would be unable to pay.

Think of the auto industry where many were well paid. Of course they were, because taxes on foreign made cars was used to prop up an industry making cars the Australian consumer did not believe in.
Posted by Jonathan J. Ariel, Sunday, 15 September 2019 10:30:23 PM
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JJA,

here's a fact/truth, I'm sure you will find both humorous and disgusting.
Some years ago it was discovered or announced, that the govt paid GMH approx three hundred million dollars in grants/subsidies.
That same year GMH declared a profit of, you guessed it, three hundred million dollars.
Because one of my life interests and career was in the automotive industry, you can imagine my anger, and still today, at the cost and restrictions on imports, both new and second hand.
We have been taken advantage of for as long as I can remember, and it's no wonder I have this utter disdain for this country and its people.
Pathetic lot, arrogant, uninformed, mis-informed, naive, mindless neanderthals.
And these are the people who are entrusted with the responsibility of choosing who will run this country and ultimately, our lives.
I can't help but wonder, at times, how much better off and more disciplined these morons would be had we lost the war.
I have experienced countries like Japan and Germany, and felt them to be outstanding examples of success stories, especially when you consider Germany has been financing half of Europe.
Can you imagine an Aussie worker having to wait for the "boss" to leave before he can knock off, as is the case in Japan?
As for penalty rates, and the idea of working 7 days a week, these people would scoff at the idea.
They are so mentally deficient as to argue the value of spending time with the family over work, when in fact they would be down the pub with their mates or at the footy or some other pointless, mindless, useless endeavor, which ultimately involves spending/wasting money.
With their stupid mantra of, "I work to live, and not I live to work".
It's a shame they don't live by the latter, they would all be so much better off in retirement.
But no it's so much better to carry on like ferrel pigs, treat work like a disease and harbour the responsibility of a three year old spoilt brat.
Posted by ALTRAV, Monday, 16 September 2019 12:28:59 AM
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