Remember. Anything posted here by outsiders is pure opinion, not Holy Writ. This contributor understands economics no better than the rest of us do. Badmouthing a public servant who has been left in the job long enough to indicate that he knows what he is doing is cowardly and takes the heat off the the real problem - elected politicians.

#elected politicians#.

And who are the cowardly over pampered in society that cast a vote for them: As a consequence, your a major part of the problem.

Meanwhile, the ever growing tent city in the grounds of the lurnea Public School at last count numbered eighteen families with children.

#Lurnea is a suburb of Sydney, in the state of New South Wales, Australia. It is 35 kilometres south-west of the Sydney central business district, in the local government area of the City of Liverpool#

Observed from over a back fence of a local resident, the police harassment increases with the addition of the Sheriff to serve notices of eviction from the site, which are immediately acted on by a police contingent.

This is your Country!

DD,

Why would anyone take any notice of you: a person who continually trumpets his own foolishness in not availing himself of the only contribution to democracy most people have - voting.

You can't even come up with the "other ways" you claim exist.

What is the story about the "tent city" drongos? They probably don't vote either, stupidly thinking that demonstrations and civil disobedience work against the state, which has all the power.

The only way to change anything is to VOTE - not for Liberals, Labor or the Greens, who just continue to be fascistic no-hopers, but the people that the fascistic no-hopers don't like, and know that if enough people voted with their brains instead of being bribed, those people would take over and straighten out this rapidly failing country.

Of course, people who don't vote deserve what they get, and have no business pontificating on what those who do exercise their rights and obligations should think.

Disagree, our inflation issues have been caused by Putin and his entirely unwarranted attack on the sovereign of Ukraine and the consequent rise in energy costs. Short memory Binroy?

We for our part are exporting energy products to the world as much as we're able. Coal, gas, sweet light crude and uranium.

The government has put Philip Lowe in his position by simply taking some energy choices off the table. And staying with a mad hatter's energy policy.

It's not good enough and it's too easy to blame the governor. WE need to allow nuclear power to be back on the table and that has to include home grown MSR thorium, if only to lever energy supply from the cold dead hands of the energy barons.
Alan B.

So both government and corporations created inflation (and as Alan just added, Putin too) - and this poor Philip is being blamed for using the only tool he has in his disposal to stop it.

Blaming the firemen for the fire?

I’ve seen some outrageous pot-calling-kettle-black on these pages, but Binoy accusing anyone of “pontificating” takes the biscuit.

The OECD report does not corroborate the Australia Institute’s. The Australia Institute’s analysis is wrong, but the OECD’s is right. The difference lies in the measure used to gauge inflation. The massive growth in profits in Australia in recent years is almost entirely confined to the mining sector, which has benefitted from record-high prices in sectors such as energy and iron ore. Because these prices are charged mainly to overseas corporations not domestic consumers, they have little or no effect on Australian consumer prices, which is the most common measure of “inflation”, and the one that matters to the RBA and Australians generally. The Australia Institute is wrong to claim this inflation measure has been boosted by profits.

The OECD’s analysis uses a much broader price measure – the Gross Domestic Product deflator – which measures the prices of all goods and services produced in the economy including not just consumer goods but also capital goods, government spending and – most importantly – exports. This has indeed been boosted by record prices for mining exports that are reflected in record profits. As the OECD report explains:

“ … for oil and gas exporters, the prices of goods produced domestically and then exported rose rapidly, pushing GDP inflation above headline consumer price inflation.”

https://www.oecd-ilibrary.org/sites/ce188438-en/1/3/1/index.html?itemId=/content/publication/ce188438-en&_csp_=f8e326092da6dbbbef8fbfa1b8ad3d52&itemIGO=oecd&itemContentType=book

This effect is even more marked for Australia as its other mineral exports also attracted high prices.

The OECD analysis covers the period from 2019 to 2022. For the Stats nerds, here is the growth in some key measures between the March quarters of 2019 and December 2022:

Implicit price deflators:
11.4% Private consumption
53.5% Exports
25.6% Imports
18.1% GDP

Other price measures:
14.6% Consumer Price Index
9.3% Wage Price Index

Gross operating surplus:
103.8% Mining
18.9% Other
35.0% Total

Another good article from Binoy Kampmark, hitting the nail on the head with inflation being fuelled by a greedy corporate profit push. Government needs to intervene in the so called "free market" economy and rein in excessive corporate profits. The bankers and billy goats on the reserve bank board need to be shown the door forthwith, bring in economic controls that fix, prices, profits and incomes.

If you earned forty thousand British pounds a year since the birth of Christ, you would not have made as much money as Shell did last year.
Alan B.

.. inflation being fuelled by a greedy corporate profit push.
Paul1405,
How much profit do you think these corporates would make if the just as greedy consumers didn't waste their funds on things they don't need ?
Or bureaucrats paying each other huge salaries which causes the imbalance in the economy !