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[SG]

"It's the (world) economy, stupid"

Or not.

All teh lefties used to complain how Howard lucked out with Chinese resource boom, funnily enough Rio and BHP got about a 90% increase in the price of their raw material this year so I'd say that's pretty much a double boom.

RBA can affect only what is local and it has been evident for some time there is a 2 speed economy (refer any number of articles).  Instead of focussing on a targetted approach they went the broad brush and hammered teh entire economy.

Fuckwits.

SG for head of RBA and hookers for all*!

SG

* Policy aimed at keeping Vis off the streets

[Nev Bartos]

Or not.

All teh lefties used to complain how Howard lucked out with Chinese resource boom, funnily enough Rio and BHP got about a 90% increase in the price of their raw material this year so I'd say that's pretty much a double boom.

Huh?  The costs of running their worldwide mining operations?
Or the prices that they charge on the world market?
Which one has nothing to do with the world economy?

RBA can affect only what is local and it has been evident for some time there is a 2 speed economy (refer any number of articles).  Instead of focussing on a targetted approach they went the broad brush and hammered teh entire economy.

Ummm... the RBA only has 1 brush: interest rates.  Thry don't get to allocate rates by state or postcode.
Commercial banks do the dirty day to day stuff in between juggling foreign exchange rates & trying to gouge as much profit as they can.

If there's a world recession & nobody wants our exports, things will stop humming along the way they have for the last 15? years.
Rudd/Swan/Costello/Turnbull won't be able change that.  Not even your beloved JHo could help.

SG, I'm indicting you on a charge of starting a stupid thread to bait lefties.

[SG]

Huh?  The costs of running their worldwide mining operations?
Or the prices that they charge on the world market?
Which one has nothing to do with the world economy?

They got a 90% price rise for iron ore.  That feeds everywhere.  The point however was that the dangerously stupid and economically illiterate left used to bang on about how JHo only made it work because of the mining boom.  Given the mining boom is continuing why have they all shut up now? 

Oh, because Ruddley Do-Nothing has no idea how to manage the economy.

Ummm... the RBA only has 1 brush: interest rates.  Thry don't get to allocate rates by state or postcode.
Commercial banks do the dirty day to day stuff in between juggling foreign exchange rates & trying to gouge as much profit as they can.

Your point caller?

My point was that the brush was applying way too much paint and they were ruining a good underlying paintjob so they should have been wiping offexcess paint months ago.

If there's a world recession & nobody wants our exports, things will stop humming along the way they have for the last 15? years.
Rudd/Swan/Costello/Turnbull won't be able change that.  Not even your beloved JHo could help.

Which is why a plan B is always useful.

For example - look at Ireland.  No real mining boom there, they did it via technology and high end manufacturing.

SG, I'm indicting you on a charge of starting a stupid thread to bait lefties.

Well shit, I'm glad to see this thread is the one you consider stupid given teh competition for that title on this forum....

SG

[Lord Biscuit©]

Let's hope Turnbull is less of a failure than Nelson.

Rudd didn't waste any time in bringing up the republic issue. Those guys are always good for a laugh! 

[Nev Bartos]

They got a 90% price rise for iron ore.  That feeds everywhere.  The point however was that the dangerously stupid and economically illiterate left used to bang on about how JHo only made it work because of the mining boom.  Given the mining boom is continuing why have they all shut up now? 

Oh, because Ruddley Do-Nothing has no idea how to manage the economy.

Your point caller?

My point was that the brush was applying way too much paint and they were ruining a good underlying paintjob so they should have been wiping offexcess paint months ago.

Which is why a plan B is always useful.

For example - look at Ireland.  No real mining boom there, they did it via technology and high end manufacturing.

Well shit, I'm glad to see this thread is the one you consider stupid given teh competition for that title on this forum....

SG

Remember the recession we had to have?  After the mullet inflated boom of the 80's?
Interest rates got up near 20%.  Inflation & unemployment were double digit.
Lots of businesses went bust & lots of people lost houses.

Inflation hasn't gone above 5% for the last 15 years or so.
And interst rates have only moved between about 4 to 7 % during the same period, regardless of who was in govt.
I'd call that pretty stable... hence the boom that we've all enjoyed.

Aus has been lucky enough to sell lots of exports for more than a decade.
And probably will for a while yet unless there is a world recession.

[SG]

Remember the recession we had to have?  After the mullet inflated boom of the 80's?
Interest rates got up near 20%.  Inflation & unemployment were double digit.
Lots of businesses went bust & lots of people lost houses.

Inflation hasn't gone above 5% for the last 15 years or so.
And interst rates have only moved between about 4 to 7 % during the same period, regardless of who was in govt.
I'd call that pretty stable... hence the boom that we've all enjoyed.

Aus has been lucky enough to sell lots of exports for more than a decade.
And probably will for a while yet unless there is a world recession.

Do you have a point or is this some form of memory regurgitation practice for you?

Ruddley Do-Nothing figured he could score cheap political points by driving up interest rates before they came down around the time of the next election.  Problem is he got caught out by the global thing and now we're in a much worse place than we should be.

And he's still at it, his BS about giving compelte and unquestioning support to Stevens (Head of RBA) is a sad indictment of his complete lack of understanding of economic matters.

SG

[Mez]

You're sounding a little like a conspiracy theorist here, SG.

[SG]

You're sounding a little like a conspiracy theorist here, SG.

Detail.

SG

[Mez]

Can't. I don't understand how money works.  I failed Neoliberalism, remember.

You're simply sounding a little like a conspiracy theorist.

[Lord Biscuit©]

Do you have a point or is this some form of memory regurgitation practice for you?

Ruddley Do-Nothing figured he could score cheap political points by driving up interest rates before they came down around the time of the next election.  Problem is he got caught out by the global thing and now we're in a much worse place than we should be.

And he's still at it, his BS about giving compelte and unquestioning support to Stevens (Head of RBA) is a sad indictment of his complete lack of understanding of economic matters.

SG

short memory there. I believe tthe vast majority of interest rate rises in the last 10 years were under JHo. Yet, you will claim these were 'necessary', but under Labor they are 'for cheap political points'.  Then of course, you've got the RBA contradicting you SG. I assume yu will be launching into some offesive against thnem?

[SG]

short memory there. I believe tthe vast majority of interest rate rises in the last 10 years were under JHo. Yet, you will claim these were 'necessary', but under Labor they are 'for cheap political points'.  Then of course, you've got the RBA contradicting you SG. I assume yu will be launching into some offesive against thnem?

You clearly haven't read what I have written.

Or if you have you haven't understood it.

Nor do you bother to look beyond the media reports by semi informed journalists who are focussed on the screaming headline.

1.  I accept the RBA is independent.
2.  That does not allow politicians to abrogate their responsibilities to manage the economy
3.  The RBA came out and said Costello had "his foot to their throat" over interest rate rises whereas Rudd and Swan do not.  Regardless of political motivations (Costello obviously wanted them down to make his team look better, Rudd aand Co wanted them up to make the Libs look bad) Costello was calling it correctly.
4.  Given 3 it is clear the RBA decided to act independently of the Government of the day
5.  That is what independence is for.
6.  Along with independence comes responsibility and accountability.
7.  Ruddley Do-Nothing talked up the inflation genie
8.  Ruddley Do-Nothing did not manage the RBA
9.  Ruddley Do-Nothing positively encouraged the RBA to put rates up at teh start of his Goverment so he could blame the Libs, build that story for the next election when he hoped the rates would be comiung down again
10. The RBA have held rates too high for too long, have had no real impact on inflation and have put many thousands of people out of work in the process.
11. This was all absolutely encouraged by Ruddley Do-Nothing and his crew
12. This was clearly the wrong thing to do and represented the worst of unelected bureaucrats failing to understand what was occurring and failing to change their straegy to deal with teh situation
13. As part of being responsible and accountable Stevens should either resign or be sacked.
14.  Swan should be sacked as Treasurer

Hopefully that is clear enough for you.

SG

[Nev Bartos]

Nor do you bother to look beyond the media reports by semi informed journalists who are focussed on the screaming headline.

   I prefer to get my facts from you, SG.

1.  I accept the RBA is independent.

OK

2.  That does not allow politicians to abrogate their responsibilities to manage the economy

They collect taxes & then spend the money. It's called Fiscal Policy. BTW, I'm now indicting you for overuse of a wanky word like 'abrogate' in this thread.

3.  The RBA came out and said Costello had "his foot to their throat" over interest rate rises whereas Rudd and Swan do not.  Regardless of political motivations (Costello obviously wanted them down to make his team look better, Rudd aand Co wanted them up to make the Libs look bad) Costello was calling it correctly.

Refer to point 1. Costello mustve only been wearing his fluffy bunny slippers because they raised rates regardless of what he wanted.

4.  Given 3 it is clear the RBA decided to act independently of the Government of the day

Refer to point 1

5.  That is what independence is for.

Umm ... Refer to point 1?

6.  Along with independence comes responsibility and accountability.

Fair enough

7.  Ruddley Do-Nothing talked up the inflation genie

He's a politician. But his sound bites probably had little effect on inflation.

8.  Ruddley Do-Nothing did not manage the RBA

Refer to point 1

9.  Ruddley Do-Nothing positively encouraged the RBA to put rates up at teh start of his Goverment so he could blame the Libs, build that story for the next election when he hoped the rates would be comiung down again

Refer to point 1.  Unless it's all a conspiracy...  *cue Twilight Zone theme music*

10. The RBA have held rates too high for too long, have had no real impact on inflation and have put many thousands of people out of work in the process.

Maybe the 'real impact' was preventing further increases in inflation. Hard to prove either way but they've managed to keep a lid on inflation for 15 years.
As for jobs, the world economy giveth for over a decade but now is starting to taketh away. Let's hope there isn't a worldwide rethession.

11. This was all absolutely encouraged by Ruddley Do-Nothing and his crew

Politicians. Refer to point 7.

12. This was clearly the wrong thing to do and represented the worst of unelected bureaucrats failing to understand what was occurring and failing to change their straegy to deal with teh situation

Your opinion. Refer to point 10

13. As part of being responsible and accountable Stevens should either resign or be sacked.

YES! Right after we sack the world economy.

14.  Swan should be sacked as Treasurer

Enrol to vote. If you can't wait until the next election, join the ALP & try yourhand at branch stacking.

[SG]

  I prefer to get my facts from you, SG.

The only sensible part of your post.

OKThey collect taxes & then spend the money. It's called Fiscal Policy. BTW, I'm now indicting you for overuse of a wanky word like 'abrogate' in this thread.Refer to point 1. Costello mustve only been wearing his fluffy bunny slippers because they raised rates regardless of what he wanted.Refer to point 1Umm ... Refer to point 1?Fair enoughHe's a politician. But his sound bites probably had little effect on inflation.Refer to point 1Refer to point 1.  Unless it's all a conspiracy...  *cue Twilight Zone theme music*Maybe the 'real impact' was preventing further increases in inflation. Hard to prove either way but they've managed to keep a lid on inflation for 15 years.
As for jobs, the world economy giveth for over a decade but now is starting to taketh away. Let's hope there isn't a worldwide rethession.Politicians. Refer to point 7.Your opinion. Refer to point 10YES! Right after we sack the world economy.Enrol to vote. If you can't wait until the next election, join the ALP & try yourhand at branch stacking.

Bunch of dross which indicates you are the cow willingly led to slaughter.

Good luck NB, hope the public service doesn't downsize you or you'll be in real trouble finding another employer.

SG

[.]

I think you'll find I was on this before they got hold of it.

SG is just SO cutting edge! *swoon*