Glenn Stevens has just cut rates by 1%. The biggest cut since 1992, the Keating horror years.
Why the drastic reversal now? It's almost like the present economic difficulty was unforseen by him. Sorta took him by suprise. That's bad for a econobrainic isn't it? hmm
But hang on. This crisis started in August last year.
Stevens increased interest rates FOUR TIMES since August last year!!
Sep 2 2008 25bps down 7.00pc
Mar 4 2008 25bps up 7.25pc
Feb 5 2008 25bps up 7.00pc
Nov 7 2007 25bps up 6.75pc
Aug 8 2007 25bps up 6.50pc
As i recall the first one just before the crisis hit, at that point Stevens failed to foresee it.
Since then he's failed to see whats right in front of his goddam eyes!
There was never any need to increase interests rates since August last because this danger was always coming our way, and our economy was never expanding out of control, except in ALP propaganda.
Showing posts with label interest rates. Show all posts
Showing posts with label interest rates. Show all posts
Tuesday, October 7, 2008
Friday, January 4, 2008
You can plead all you want, Swan
Swan 'pleads for families' according to The Age. He is begging commercial banks not to increase home loan interest rates.
You can plead all you want, Swan, but this is a capitalist country, and businesses have to make money. This in turn gives people jobs and feeds families. Go read some Adam Smith you commie twat.
Costello did this before, I know, but Costello knew it was a gesture. Swan probably believes in his socialist heart that the banks give a shit. With his economic training Swan should know that for the sake of the greater good it's better they DON'T give a shit.
I guess politically you have to be seen to do everything in your power to keep rates down. But the fact is that the federal govt is totally powerless in this regard, at least in the short term.
Labour knew this, and still blamed Howard for interest rate rises.
Howard had done more than any Labour govt would dare to free up labour markets and contain inflation by building workforce capacity. It was and still is a miricle that we have growth to the extent that we do, and interest rates are as low as they are.
This is all about to change, and it gives me no small degree of personal satisfaction to know that Labour will be in charge when it does.
As Kevvy wanted, this is another case of the buck stopping with Labour. Well done Rudd, take responsibility for everything just before it fucks up.
He's not a poltical genius any more than Athur Daley is a business guru. The two of them are simply liars that exploit people's gullibity. He has found no secret to pleasing everyone, he just says he can.
Instead of encouraging people to be independent and look out for themselves he encourages them to complain and expect a world where the government will take all their problems away.
When the problems remain who do you think they will blame?
These tax-cuts better be coming in full. If Labour use inflation as an excuse to keep more of our money they know what to expect.
That' right. A big fucking whinge from coast to coast they they cant ignore.
You can plead all you want, Swan, but this is a capitalist country, and businesses have to make money. This in turn gives people jobs and feeds families. Go read some Adam Smith you commie twat.
Costello did this before, I know, but Costello knew it was a gesture. Swan probably believes in his socialist heart that the banks give a shit. With his economic training Swan should know that for the sake of the greater good it's better they DON'T give a shit.
I guess politically you have to be seen to do everything in your power to keep rates down. But the fact is that the federal govt is totally powerless in this regard, at least in the short term.
Labour knew this, and still blamed Howard for interest rate rises.
Howard had done more than any Labour govt would dare to free up labour markets and contain inflation by building workforce capacity. It was and still is a miricle that we have growth to the extent that we do, and interest rates are as low as they are.
This is all about to change, and it gives me no small degree of personal satisfaction to know that Labour will be in charge when it does.
As Kevvy wanted, this is another case of the buck stopping with Labour. Well done Rudd, take responsibility for everything just before it fucks up.
He's not a poltical genius any more than Athur Daley is a business guru. The two of them are simply liars that exploit people's gullibity. He has found no secret to pleasing everyone, he just says he can.
Instead of encouraging people to be independent and look out for themselves he encourages them to complain and expect a world where the government will take all their problems away.
When the problems remain who do you think they will blame?
These tax-cuts better be coming in full. If Labour use inflation as an excuse to keep more of our money they know what to expect.
That' right. A big fucking whinge from coast to coast they they cant ignore.
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