Australian Politics Forum - Labor Letting The RBA Crash The Economy

freediver

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Re: Labor Letting The RBA Crash The Economy
Reply #15 - Sep 7^th, 2024 at 9:07pm

Bobby. wrote on Sep 7^th, 2024 at 2:47pm:

freediver wrote on Sep 7^th, 2024 at 1:01pm:

Quote:

But it was the RBA that printed all the money that caused high inflation.

No it wasn't.

Who did then?

https://www.rba.gov.au/publications/annual-reports/rba/2006/note-printing.html

Note Printing Australia

Note Printing Australia Limited (NPA), based at Craigieburn in Victoria,
is a wholly owned subsidiary of the Reserve Bank, which produces currency notes for Australia.
Securency is currently more than doubling its manufacturing capacity at Craigieburn

People did, by being overconfident.

The reserve bank goes a long way to reducing macroeconomic cycles. That is what it is there for. Since the reserve bank became independent, our highest inflation rates always coincided with the reserve bank doing the opposite of "printing money".

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Bobby.

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Re: Labor Letting The RBA Crash The Economy
Reply #16 - Sep 7^th, 2024 at 11:56pm

freediver wrote on Sep 7^th, 2024 at 9:07pm:

People did, by being overconfident.

The reserve bank goes a long way to reducing macroeconomic cycles. That is what it is there for. Since the reserve bank became independent, our highest inflation rates always coincided with the reserve bank doing the opposite of "printing money".

I still say:

But it was the RBA that printed all the money that caused high inflation.

They should have said NO to the Govt. when Govt bonds were issued -
and not printed money to pay for them.
We are still going into more National Govt. debt.
It's now $1.2 trillion as we live way beyond our means:

Australian Debt Clock
http://australiandebtclock.com.au/

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freediver Gold Member Offline www.ozpolitic.com Posts: 48833 At my desk.	Re: Labor Letting The RBA Crash The Economy Reply #17 - Sep 8^th, 2024 at 8:33am I know you say it Bobby. But why do you say it? Is someone telling you to?
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Bobby. Gold Member Online Australian Politics Posts: 103034 Melbourne Gender:	Re: Labor Letting The RBA Crash The Economy Reply #18 - Sep 8^th, 2024 at 8:56am freediver wrote on Sep 8^th, 2024 at 8:33am: I know you say it Bobby. But why do you say it? Is someone telling you to? No one - tell me - how do you think all that extra money is created?
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freediver

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Re: Labor Letting The RBA Crash The Economy
Reply #19 - Sep 8^th, 2024 at 9:06am

Bobby. wrote on Sep 8^th, 2024 at 8:56am:

freediver wrote on Sep 8^th, 2024 at 8:33am:

I know you say it Bobby. But why do you say it? Is someone telling you to?

No one - tell me - how do you think all that extra money is created?

How about we jump straight to the end Bobby, rather than me trying to figure out why you think the things you do from the inane questions you ask. Would you mind pointing out which high inflation you are accusing the reserve bank of causing? Then tell us what the RBA was doing in terms of "printing money" prior to the high inflation? Or is the extent of your argument based on the theoretical possibility that the reserve bank could do what you accuse it of, if it did the opposite of what it has been doing for the last three decades?

https://www.rba.gov.au/inflation/measures-cpi.html

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inflation.png (38 KB | 3 )

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Bobby.

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Re: Labor Letting The RBA Crash The Economy
Reply #20 - Sep 8^th, 2024 at 9:19am

Dear FD,
check how property prices have exploded in the last 10 years and tell
me where all that extra money came from?
The prices went up a lot more than 3% per annum.
They went up 27% last year in one suburb near me.

If the Govt wants money they create Govt Bonds and the RBA prints money to buy them.
That's how the Govt can spend way beyond what they receive in taxes.
That's why we're in $1.2 trillion of National Govt. debt.

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freediver Gold Member Offline www.ozpolitic.com Posts: 48833 At my desk.	Re: Labor Letting The RBA Crash The Economy Reply #21 - Sep 8^th, 2024 at 9:22am I am talking about the facts Bobby. Not the spin doctoring from journalists desperate for something worth reporting on. I cannot explain why you get so scared every time you read a newspaper, so there is no point asking me to.
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Bobby.

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Re: Labor Letting The RBA Crash The Economy
Reply #22 - Sep 8^th, 2024 at 1:35pm

freediver wrote on Sep 8^th, 2024 at 9:22am:

I am talking about the facts Bobby. Not the spin doctoring from journalists desperate for something worth reporting on. I cannot explain why you get so scared every time you read a newspaper, so there is no point asking me to.

Here is a fact FD about house prices.

https://www.domain.com.au/59-rowntree-street-birchgrove-nsw-2041-2019401686

SOLD - $1,370,000

59 Rowntree Street, Birchgrove NSW 2041

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freediver Gold Member Offline www.ozpolitic.com Posts: 48833 At my desk.	Re: Labor Letting The RBA Crash The Economy Reply #23 - Sep 8^th, 2024 at 1:37pm I have no idea why that scares you Bobby. Like I said, there is no point asking me for an explanation.
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Bobby.

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Re: Labor Letting The RBA Crash The Economy
Reply #24 - Sep 8^th, 2024 at 1:41pm

freediver wrote on Sep 8^th, 2024 at 1:37pm:

I have no idea why that scares you Bobby. Like I said, there is no point asking me for an explanation.

Of course it's scary FD.

Some poor devil has just paid $1,370,000 to live in a horrible little old dump.
Did you check out the pictures?
Could you live in that?
Doesn't it scare you too?

That's what happens when the RBA prints money day and night -
it makes our savings worthless.

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freediver Gold Member Offline www.ozpolitic.com Posts: 48833 At my desk.	Re: Labor Letting The RBA Crash The Economy Reply #25 - Sep 8^th, 2024 at 1:43pm Quote: Of course it's scary FD. Only to you Bobby. No-one else cares.
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Sir lastnail

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Re: Labor Letting The RBA Crash The Economy
Reply #26 - Sep 8^th, 2024 at 1:45pm

Bobby. wrote on Sep 8^th, 2024 at 1:41pm:

freediver wrote on Sep 8^th, 2024 at 1:37pm:

I have no idea why that scares you Bobby. Like I said, there is no point asking me for an explanation.

Of course it's scary FD.

Some poor devil has just paid $1,370,000 to live in a horrible little old dump.
Did you check out the pictures?
Could you live in that?
Doesn't it scare you too?

That's what happens when the RBA prints money day and night -
it makes our savings worthless.

I bet you the old outhouse shitehouse has the original cobwebs and wooden seat from the 1920's Cheesy

LOL

This is what aussies are working 3 jobs to own Cheesy

LOL

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« Last Edit: Sep 8^th, 2024 at 2:04pm by Sir lastnail »

In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Bobby.

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Re: Labor Letting The RBA Crash The Economy
Reply #27 - Sep 8^th, 2024 at 1:48pm

Sir lastnail wrote on Sep 8^th, 2024 at 1:45pm:

Bobby. wrote on Sep 8^th, 2024 at 1:41pm:

freediver wrote on Sep 8^th, 2024 at 1:37pm:

I have no idea why that scares you Bobby. Like I said, there is no point asking me for an explanation.

Of course it's scary FD.

Some poor devil has just paid $1,370,000 to live in a horrible little old dump.
Did you check out the pictures?
Could you live in that?
Doesn't it scare you too?

That's what happens when the RBA prints money day and night -
it makes our savings worthless.

I bet you the old outhouse shitehouse has the original cobwebs from the 1920's Cheesy

LOL

This is what aussies are working 3 jobs to own Cheesy

LOL

How depressing to pay $1.37 million and to work all your life for a dump like that. WTF?

The pictures look like a nightmare.

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Sir lastnail

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Re: Labor Letting The RBA Crash The Economy
Reply #28 - Sep 8^th, 2024 at 1:50pm

Bobby. wrote on Sep 8^th, 2024 at 1:48pm:

Sir lastnail wrote on Sep 8^th, 2024 at 1:45pm:

Bobby. wrote on Sep 8^th, 2024 at 1:41pm:

freediver wrote on Sep 8^th, 2024 at 1:37pm:

I have no idea why that scares you Bobby. Like I said, there is no point asking me for an explanation.

Of course it's scary FD.

Some poor devil has just paid $1,370,000 to live in a horrible little old dump.
Did you check out the pictures?
Could you live in that?
Doesn't it scare you too?

That's what happens when the RBA prints money day and night -
it makes our savings worthless.

I bet you the old outhouse shitehouse has the original cobwebs from the 1920's Cheesy

LOL

This is what aussies are working 3 jobs to own Cheesy

LOL

How depressing to pay $1.37 million and to work all your life for a dump like that. WTF?

The pictures look like a nightmare.

Add another 500k for renos to make it livable Sad

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Bobby.

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Re: Labor Letting The RBA Crash The Economy
Reply #29 - Sep 8^th, 2024 at 1:52pm

Sir lastnail wrote on Sep 8^th, 2024 at 1:50pm:

Bobby. wrote on Sep 8^th, 2024 at 1:48pm:

Sir lastnail wrote on Sep 8^th, 2024 at 1:45pm:

Bobby. wrote on Sep 8^th, 2024 at 1:41pm:

freediver wrote on Sep 8^th, 2024 at 1:37pm:

I have no idea why that scares you Bobby. Like I said, there is no point asking me for an explanation.

Of course it's scary FD.

Some poor devil has just paid $1,370,000 to live in a horrible little old dump.
Did you check out the pictures?
Could you live in that?
Doesn't it scare you too?

That's what happens when the RBA prints money day and night -
it makes our savings worthless.

I bet you the old outhouse shitehouse has the original cobwebs from the 1920's Cheesy

LOL

This is what aussies are working 3 jobs to own Cheesy

LOL

How depressing to pay $1.37 million and to work all your life for a dump like that. WTF?

The pictures look like a nightmare.

Add another 500k for renos to make it livable Sad

Look out the back - it's full of asbestos.
That can't be renovated.

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