Gosh Golly Gee. . .

That was quick! A bit of huffing and a bit of puffing and. . .presto:
THE Reserve Bank believes inflation may almost be under control and that yesterday's interest rate rise could be the final blow in a series of 12 consecutive increases that have pushed rates to their highest level in 12 years.
Ta da! Just in the nick of time, too! So what’s all the screaming been about, I wonder?
Announcing the fourth rate rise in seven months, bank governor Glenn Stevens yesterday cited a slowing in consumer spending and lower household borrowing as evidence that the previous rate hikes may have eased inflation.
Great – terrific. Can everyone please shut the hell up now? No? I didn’t think so. . .
Kevin Rudd has identified inflation as the "core economic problem" facing the nation. He has promised to slash government spending in the short term and fix infrastructure constraints on the economy in the longer term.
Seems the Kruddite is behind the eight-ball on this one (and Swanny is missing in action, thank God). No sweat, Monsieur Le Krudd. The RBA says that all is now fixed. I guess you’ll need to find some other cause for the ‘black hole’ myth you’ve been desperately trying to create.

But lo, what’s this we read?

But Opposition Treasury spokesman Malcolm Turnbull warned yesterday that the Prime Minister's plan for sharp budget cuts could spark a downturn in non-resource-rich states such as NSW and South Australia, which are not driving the high inflation targeted by the Reserve Bank's rate rises.
And there was I, thinking we’d get some peace and quiet, at least for a little while. . .

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