Lee's fedora
Well-known member
Low income earners are: retail workers, aged care and support workers
Politics Super Thread - keep it all in here
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I think he also claimed Uber drivers are "running a business"?
Lee's fedora
Well-known member
He needs to go its simple as that if you are having books written about how poor you are as a PM being called "The accidental pm" you gotta go
earl
Well-known member
Can you explain this to me. So the RBA just cancels the bonds and therefore we don't have any debt ?
If this is true why do we have such a massive debt ?
G'day @formerguest ...Thanks 🙂 for your Very Kind thoughts.
My father was a gutless piece of crap who didnt have the inner strength to stick around when things got a bit tough, walking out on my Mother and my 2 elder brothers soon after I was born 75 years ago.
He had a good job that payed well, but on many occasions just happened to 'forget' to pay his maintenance leaving us to basically go hungry and just forgot we ever existed while he went on to have a very cosy life.
The kindness of my Mothers relatives got us thru.
I wont go into any further details, but life has had it's challenges from not having a true caring 'father figure' at home.
I try very hard to be positive and generally find it easier [and seem to get into less trouble] 🙁 in expressing my feelings in writing rather than actually speaking about my feelings.
Thanks to You 👍for giving me the opportunity to do just that.
Enjoy the rest of the day FG.
earl
Well-known member
How the Reserve Bank Implements Monetary Policy | Explainer | Education
This series provides short, concise explanations for various economics topics.
I think this explains monetary policy and in particular the bond issuing via repurchase agreements (repos).
It doesn't sound like that guy in that video understands the issue.
It's a good criticism of Frydenburg trying to get a budget surplus when he probably shouldn't be doing that but it's not a good explanation of how you don't have to pay back the debt.
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pawsandclaws1
Well-known member
Josh is in a lot of trouble in his electorate. 53 to 47 against right now.How the Reserve Bank Implements Monetary Policy | Explainer | Education
This series provides short, concise explanations for various economics topics.www.rba.gov.au
I think this explains monetary policy and in particular the bond issuing via repurchase agreements (repos).
It doesn't sound like that guy in video understands the issue.
It's a good criticism of Frydenburg trying to get a budget surplus when he probably shouldn't be doing that but it's not a good explanation of how you don't have to pay back the debt.
If Frydenberg loses his seat and government....and Dutton becomes leader of the coalition (likely) they will be in opposition until Dutton is rolled. Just a guess 🙂
earl
Well-known member
Just quoting myself but that video is really really wrong.
The RBA is printing money and that has raised a lot of questions
Yes, Australia's central bank is now plugging in extra digits on its computer trading screens to artificially pump-up how much cash it has. Here are some answers to your most common questions.
www.abc.net.au
I'll try and explain it. If I get it wrong please inform me accurately via facts.
Basically the RBA during COVID decided to pump money into the economy. They did this via purchasing bonds but then cancelling those bonds so they didn't have to be repaid. It sort of makes sense in this context because it increases the money supply. If you have low inflation you can get away with this because you aren't worried about inflation. They probably also couldn't move on interest rates because they were so low.
The problem is now we are worried about inflation and the RBA won't continue to increase the money supply.
The government budget is a completely different kettle of fish. The government has had a massive deficit (maybe it was required) and now we have historically extremely large debt.
That debt has to be repaid. There is an argument that debt is different for a government compared to a household because a household has a lifecycle where you want to retire at some point whereas the government doesn't.
Even government debt though needs to be serviced. When you have a large debt more resources (which means tax dollars or less spending on other stuff) have to go to service that debt.
There is no free lunch.
InBenjiWeTrust
Well-known member
correct, because you end that you have to satisfy everybody,
the old "you paid him, why not me?" - in the other words a corrupt government that picks up "winners"!
earl
Well-known member
Exactly. This is also why I much prefer blanket payments or blanket decisions rather than the government trying to pick winners.
I had a free lunch down the Bowlo my last Dine Voucher covered the Chicken Parmi..
Except between 2013 and just BEFORE the pandemic became a thing - our debt basically doubled?
No extrinsic factors: no headwinds, no war, no pandemic, no GFC? What was Josh's excuse?
Which seat Earl? No decent independent 🙂
earl
Well-known member
I thought I was in a Liberal seat but apparently I'm in a key seat. I'm in Reid. I actually feel a little bad because the local member didn't vote for Morrison's religious discrimination laws.
The Labor candidate knocked on my door to get me to vote for her and I told her to go elsewhere because I was voting for her.
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