Indy,

You can see the great results on Covid from the majority of Labor states. Then there was the vaccine stuff up by Morrison, and all that dosh given out to their undeserving 'fat cats' mates. AND, just for YOU, great work from the Palaszczuk Labor government here in Queensland that kept a little old fella like you safe and well from the bugs. Even today Albo has you on free health care, low cost prescriptions, give Mr Potato Head, half a chance, and he'll scrap Medicare, hike your prescriptions and cut your crappy pension, just for starters!

Hi Paul
That’s what she meant I think, but all the media sources I’ve seen report her saying “next year”, e.g.
http://www.abc.net.au/news/2025-02-19/federal-politics-live-blog-feburary-19/104951990

Yes, inflation was high under the previous government, as it was in every developed country in the aftermath of the Ukraine invasion. But even though our inflation peaked lower than the OECD average, it has come down more slowly, and the effect on real living standards has been severe. Growth in real wages and disposable incomes slowed dramatically under the previous government (and the one before that). But at least they didn’t go backwards.

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Hi Rhian,

There are basically two ways government can tackle economic downturns, the hard way, favoured by conservatives of "battening down the hatches", through tight fiscal policy, mainly involving the cutting of government spending and waiting for the free market to right itself. This was the policy adopted by most developed countries at the start of the Great Depression of the 1930's, and it was favoured by leading economists and business at that time. The problem with that approach is rising unemployment, slowing of general economic activity, lowering of living standards and a uncontrolled downward economic spiral, which brings an economic disaster to millions.

The second approach involves government intervention, generally with increased government spending, and more interventionist policies to keep the economy moving, well at least not going backwards. Economic intervention is the general policy most developed countries, including Australia, adopt today. This gives economic protection to millions, mainly through low unemployment and monitory stimulus. Referring to the Great Depression, this intervention was basically the Roosevelt New Deal policy, which helped to kick start the American economy which then flowed trough to the world economy. WWII then provided another form of economic stimulus, but with devastating consequences.

oops... It seems that when Paul decided to regurgitate ALP talking points he went off a day early. Missed it by that much! http://tiny.cc/1una001

Because the very next day we get the news that wages growth is declining to levels last seen in 2022!!

The fact is that this government has not really done anything to cause inflation to fall except sit tight, chuck some money around every now and then to keep a lid on things, and wait for the fall in the world's inflation rate to fed into the Australian economy. In terms of inflation, Australia has been a follower, not a leader.

While headline inflation has been falling, this is partially due to the government splashing money around on things like electricity rebates. BTW, does anyone recall the promises made by Albanese before the last election that electricity prices would fall by $300pa under his policies. Even with the government hand-outs it didn't happen but don't expect the stenographers in the media to remind the plebs of that.

So called trimmed inflation is still way to high and the government hasn't got a clue as to what to do about it.

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As to the RBA governors comments about the potential to cut rates next year, I think she probably meant next financial year - ie after July 2025. These people don't live on the same planet as the rest of us and not even in the same time scale!

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Speaking of the stenographers in the legacy media, remember when Tony Abbott said Whyalla would collapse due to the ALP's green policies? Well that won't be mentioned except by those with a long memory like me.

The worst outcome for the ALP would be the collapse of Whyalla during an election campaign. Consequently they are throwing $2.4 Billion at protecting their phoney-baloney jobs by claiming they are protecting the jobs of the Whyalla workers. As we all know $2.4billion will quickly become $3...$4...$5B. This apparently is prudent economic management!!

" Referring to the Great Depression, this intervention was basically the Roosevelt New Deal policy, which helped to kick start the American economy which then flowed trough to the world economy."

Well if you look at the numbers, Roosevelt's polices didn't help the US economy at all. By 1940 the US economy was in hardly any better shape than 1929. Indeed there was recession in 1938. It was the advent of war production in and after 1940 that caused the economy to explode. Nowt to do with Roosevelt's policies. The notion of using government spending in a counter-cyclical manner really didn't gain traction until the very late 1930's following Keynes's book 'The General Theory of Employment, Interest and Money' which came out in late 1936.