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The RBA Says They Helped Create The Inflation Problem…

More from the Senate as they probed the RBA Governor, this time the discussion related to the cause of inflation. Governor Lowe conceded they had stoked inflation by monetary stimulus and low rates (and over did it). But then tried to defend the decision.

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  1. It was a political decision to leave interest rates so low when it was obvious all the stimulus money would raise inflation. They didnt want the then Liberal government to look bad with mortgage holders. How many of the RBA team vote labor , zero. they didnt want murdochs cronies to look bad with an election coming up.

  2. When the wheels eventually fall off. And they will eventually. Just remember the bankers and politicians that made it happen. They shouldn't be given the opportunity to even offer CBDCs as a solution.

  3. Central banks for fifteen years have been the bartender of the economic party, pouring drinks until closing time. Now they have to suddenly be the bouncer and cut off the angry drunks, and tell them the party is over – oh, and remember those free shots from last night? Yeah, sorry – your tab is actually 300 bucks. Moral of the story – Once you intervene, you become the hero and villain. And the longer you pretend to be the hero, the worse the fall from grace will be. Kinda works when the system is managed by individuals with short stints, at least until things get bad. When that happens, you need a beaurocrat with a spine. The NZCB governor seems to have one, even Powell. Lowe…not so much.

  4. Caring for the planet. Forget the planet what about the peoples lives you have destroyed by feeding them up on cheap money taking it away and making them pay more. Absolute 100 % the plan from day one Orr had links to the WEF global agenda council from 2014 when he was CEO of the NZ superannuation fund clearly listed on their website. Plan now is buy all the distressed assess at cents in the dollar. It is a disgrace Lowe sits their smirking.

  5. Classic case of Long Covid. Looks confused, doesn't know where he is and looks like a captain scarlet extra. Even Orr is better than this clown, and Orr is a very good clown.

  6. If RBA knew about the Ukraine conflict in advance, then would their hyper stimulating response to covid been different.
    If yes how would they had responded?

    They should stop giving Ukraine as an excuse.

  7. Milton Friedman famously said: “Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”

  8. BS Phillip Lowbreed. You monetised a massive amount Government iou's and handed them out. What did you think would happen. Seriously what a joke!

  9. Yeah nah, she was a bit of a hairy year so we hit the QE button 650 billion times.
    Turns out that causes inflation, who'd a guessed it?
    But nah I reckon we can pull her back to 2.5% no worries, hold my beer.

  10. This 1970s brain dead view that increasing interest rates to flatten supply driven inflation on essentials has proven to date with the highest increase in rates in 40 years, both hear and overseas, that its failed. Will continue to fail, only causing misery on those with mortgages. The RBA provided financial advice when it suggest no increase in rates for 2 years, doesnt matter whats happened since, they should have never provided the advice and those involved need the responsibility of this outcome.

  11. the three most regressive taxes (or way to reclaim money from the public)

    1. GST
    2. Carbon Tax or panama carbon accounting
    3. Inflation.

    Thanks labor government.

    I dont want a pay rise.

    Just dont make things cost more.

    Milk is too expensive.

  12. The rba didn't create money out of nowhere that's what pushing up house prices was used for. That lending money gets created out of nowhere you can thank Morrison and his tax payer funding of the housing market for it . Low rates was just the iceing on the cake.

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