The Reserve Bank is blaming our soaring inflation on wage pressure, whereas economists argue the real reason is excess corporate profits. Dr Evan Jones reports.
Source: Reserve Bank ignorant to truth behind Australia’s inflation
Tag: Reserve Bank
Despite the grilling he got in two separate parliamentary hearings last week, Reserve Bank governor Dr Philip Lowe’s explanation of why he was preparing mortgage borrowers for yet further interest rate increases didn’t quite add up. There seemed to be something he wasn’t telling us – and I think I know what it was.
Source: Lowe’s secret inflation fear: big companies’ price-setting power – Pearls and Irritations
I’m no economist but neither am I a fool. When somebody tells me that inflation has taken off in Australia and that the cause is largely due to an escalation in the prices of goods and services driven by wage and salary increases and the costs of production I start to take interest.
For a start it can’t be spiralling wages as they have been stuck in the doldrums for years while corporate profits have surged and executive bonuses have ballooned. So we need to look elsewhere.
Inflation! Or is somebody having a lend of us? – » The Australian Independent Media Network
Why Today’s Decision by the Fed Is Dead Wrong | The Smirking Chimp
Why Today’s Decision by the Fed Is Dead Wrong | The Smirking Chimp
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