Post by Faulty Memory on Sept 14, 2022 10:36:35 GMT 8
Inflation cannot be "controlled" after the fact. It is the direct result of increasing the money supply. Nothing more, nothing less.
From early 2020 until now the RBA has been adding around $2 BILLION + a week to the money supply. Or a total of over $300 BILLION. All created out of thin air but will have to be paid back by our grandchildren's grandchildren. With interest. Consequently, the value of the AUD has dropped from around 78 cents USD to about 67 cents USD now.
As a result prices have skyrocketed. Forget the BS figures spruiked by our lying politicians. Rents have gone 30% +. The price of red meat has doubled. Chicken is about to follow. In a couple of weeks petrol will once again be over $2.00 a litre, despite falling international oil prices. Electricity and gas have gone up 40% in a little over 12 months. In the same period biscuits have gone from $2.00 to $3.50, and in six months a can Whiskas cat food has gone from $1.75 to $2.60.
The RBA can increase interest rates as high as it likes. it will do nothing to improve the above situation for the average family. Quite the opposite in fact. Meanwhile the grubbymint is planning to bring in an additional 195,000 "workers" - plus families - THIS YEAR, to alleviate the equally phony "worker shortage". The ABC informs us that these additional "workers" - plus families - will increase productivity AND wages, plus alleviate the housing shortage.