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The Forum > General Discussion > Interest rate to reduce inflation, banks to profits, and low wages. The only formula?

Interest rate to reduce inflation, banks to profits, and low wages. The only formula?

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There are several parameters that rule life. Isn't time the whole process is reviewed? Is it acceptable that the Reserve bank must reduce inflation to the extent that it affect the battlers while we see banks make huge profits for their shareholders. Wages have increased at the rate of 4%. Now it is predicted that an increase in wages of 1.2% would trigger inflation and the obvious reaction of the Reseve Bank.

Why the burden is on wage earners to fix the problems of the nation while ther is a minig boom, property values are sky high and wages do not reflect the wealth of the nation? Isn't another formula available to make the situation more equitable. Is it in the future of the nation to work this out?

What the labor is going tp do about this? Was a mistake to sell the Commonwealth Bank when the government of the day could have had an imput on regulation?
Posted by gianni, Tuesday, 13 November 2007 9:55:03 AM
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there are other ways to run society, gianni, but it doesn't matter what you think, you're not master here. parliament is. they are power brokers, for rent to any one who can deliver votes, or money to buy votes. it is a fundamentally corrupt society, which must hide itself from public view, as even ozzie sheep would become restive if they saw how things are done here.

democracy is the cure, but it needs citizen quality people. ozzies aren't up to it.
Posted by DEMOS, Wednesday, 14 November 2007 7:57:50 AM
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