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From: Borax Man <rotflol2@hotmail.com>
Newsgroups: talk.politics.misc
Subject: Re: Corporate Overlords Are Laughing At You
Date: Sun, 28 Apr 2024 10:35:51 +1000
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On Sat, 27 Apr 2024 14:53:19 -0400
Governor Swill <governor.swill@gmail.com> wrote:

> On Sat, 27 Apr 2024 10:32:42 -0000 (UTC), Borax Man <rotflol2@hotmail.com> wrote:
> 
> >["Followup-To:" header set to talk.politics.misc.]
> >On 2024-04-27, Governor Swill <governor.swill@gmail.com> wrote:  
> >> On Sat, 27 Apr 2024 12:00:10 +1000, Borax Man <rotflol2@hotmail.com> wrote:
> >>  
>  [...]  
>  [...]  
>  [...]  
> >>
> >> The biggest reason for inflation was the government dumping trillions into the economy in
> >> 2020 trying to prevent it from completely collapsing.  Another factor is that having gone
> >> much of a year without going out to eat or be entertained, folks found lots of extra cash
> >> in their accounts at the end of the month.  As the economy re-opened and expanded, that
> >> extra cash got spent lavishly on things that, often, had been out of stock due to supply
> >> chain interruptions.
> >>
> >> Blaming it on "administration policies" is a crutch for those who don't want to think.  
> >
> >Indeed, nevertheless the rhetoric blames us.  Interest rates go up to
> >curb our spending, because, well, we're spending too much, despite the
> >increase in the cost of living.  
> 
> Interest rates are controlled by a politically independent financial regulator.  Trump
> wants to bring under the direct control of the Executive.  Unlikely he could get it
> through Congress, but it demonstrates that being President isn't enough for him.  He would
> be King.
> 

In Australia, the Reserve Bank Governor is appointed by the Treasury,
not exactly independent.

And the Reserve Bank operate according to mainstream economic theory
and values.  The theory is that putting up interest rates curbs
inflation, but there are valid reasons to object to this.  Firstly,
punishing me for government policy, secondly that its just silly to
think that INCREASING THE COST OF LIVING will put downward pressure on
price rises.

The system is screwed.

--