The demand that the treasurer intervene to cut rates unless governor Michele Bullock does so herself effectively sinks Jim Chalmers's chances of passing his reforms.

This seems pretty wtf.

What sort of precedent do they want to set? Whether or not you embrace neoliberal ideology political interference with monetary policy has not typically gone well, no matter what or whom you want to blame for that.

Am I missing something, or are they just going off the rails here?

  • Minarble
    9·
    3 months ago

    If politicians can dictate to the RBA idiots like Morrison would have dropped the rate just to win an election and what do you think the chances of the new government raising them?

    It would be a disaster and we would be running at Argentinian levels of inflation very quickly

    Is the RBA perfect with 20/20 foresite? No

    Is it better than having politicians running the levers to suit their short term agendas? Fuck yes

    This is Pauline Hanson levels of stupidity from the Greens. I had hoped they would be much better than this.

    • NaevaTheRat [she/her]@vegantheoryclub.orgOPEnglish
      3·
      3 months ago

      Politicians apparently can, like there are supposedly legal powers to do so which is what this is about.

      However they don’t. Although Keating came close to doing it once.

      • Minarble
        2·
        3 months ago

        That’s right I think, which goes to show the Greens want to do something that even Paul Keating baulked at. A very bad precedent to start.