Nerfonomics

fjohn860

fjohn860

Alice in diaperland
steve jobs' pancreas said:
Anyone care for a kick in the nuts

www.abc.net.au

The Reserve Bank has pointed directly to the elephant in the room

The stock market is a few percentage points away from an all-time high because some of Australia's biggest corporations are making record profits. But Australian households are under pressure, writes David Taylor.
www.abc.net.au www.abc.net.au
Click to expand...
"the stock market is a few percentage points away from an all-time high..."

Does this mean my lithium mine shares are going to start performing?!
 
Flow-Rider

Flow-Rider

Burner
Phillip Lowe Is gone and dusted.

RBA boss Philip Lowe replacement announced in historic decision: 'Right call'

Deputy RBA governor Michele Bullock will be the next governor of the Reserve Bank of Australia (RBA), making her the first female head of the central bank. Bullock has a distinguished career at the RBA, after joining in 1985 as an analyst, and has been the deputy RBA governor since April 2022. “Michele will be the first female governor since the independent RBA was founded in 1959. After close to four decades of service to the RBA, most recently as the deputy governor, Ms Bullock is eminently qualified to lead this national institution,” Prime Minister Anthony Albanese said.
 
caad9

caad9

Likes Bikes and Dirt
Flow-Rider said:
Phillip Lowe Is gone and dusted.

RBA boss Philip Lowe replacement announced in historic decision: 'Right call'

Deputy RBA governor Michele Bullock will be the next governor of the Reserve Bank of Australia (RBA), making her the first female head of the central bank. Bullock has a distinguished career at the RBA, after joining in 1985 as an analyst, and has been the deputy RBA governor since April 2022. “Michele will be the first female governor since the independent RBA was founded in 1959. After close to four decades of service to the RBA, most recently as the deputy governor, Ms Bullock is eminently qualified to lead this national institution,” Prime Minister Anthony Albanese said.
Click to expand...
Hopefully the deputy is a little more forgiving than Lowe was, I won't hold my breath
 
pink poodle

pink poodle

気が狂っている男
LOL...so a position that is supposed to be relatively independent of government interference is being manipulated to achieve a political agenda because the uninformed masses didn't like their efforts to prevent economic disaster?
 
Flow-Rider

Flow-Rider

Burner
mike14 said:
His current term was up in mid-Sept (which is when he's leaving).
Rightly or wrongly he's now the 'face' of the interest rate rises, inflation and cost-of-living issues so it would have been politically foolhardy for Labour to extend his contract
Click to expand...
He could have got an extension to stay, Chalmers basically sent him on his way.
pink poodle said:
LOL...so a position that is supposed to be relatively independent of government interference is being manipulated to achieve a political agenda because the uninformed masses didn't like their efforts to prevent economic disaster?
Click to expand...
How many complained when he dropped the rate down to almost zero and then delayed the increases? The same people buying Gucci handbags and HSV bogan mobiles with the covid payments.
Now imagine this, the new RBA governor panders to the populace of no to little rate risers, and then inflation creeps up again over a number of years.
 
mike14

mike14

Likes Bikes and Dirt
pink poodle said:
LOL...so a position that is supposed to be relatively independent of government interference is being manipulated to achieve a political agenda because the uninformed masses didn't like their efforts to prevent economic disaster?
Click to expand...
I think the answer to that depends on where your political and financial thoughts and interests lie.
The governor is always appointed by the Treasurer though, so I'm not sure how independent any pick for the role ever is.

Edit to add: since the RBA was formed in 1960, only 2 of the 8 (including Lowe) governors have served more than 7 years, with both of them doing 10, so this doesn't really seem out of the ordinary
 
indica

indica

Serial flasher

Funny how little idea people have.
I paid a fair bit of tax - so what? Pays for the nice life we have.

Helps pay for the Bushmasters going to Ukraine.
Helps my old man have a support worker for a day a week to give his wife a break.

Oh, didn't get my tax return - you shouldn't really get much if you are paying the right tax rate.

Dunno why the ATO doesn't want my HECS though
 
pink poodle

pink poodle

気が狂っている男
indica said:

Funny how little idea people have.
I paid a fair bit of tax - so what? Pays for the nice life we have.

Helps pay for the Bushmasters going to Ukraine.
Helps my old man have a support worker for a day a week to give his wife a break.

Oh, didn't get my tax return - you shouldn't really get much if you are paying the right tax rate.

Dunno why the ATO doesn't want my HECS though
Click to expand...

Imagine if the media regularly reminded people of how good things like public education, health care, roads, NDIS, age pensions, and even things like unemployment support is rather than constantly vilifying such things as outrageous government overreach!

mike14 said:
I think the answer to that depends on where your political and financial thoughts and interests lie.
The governor is always appointed by the Treasurer though, so I'm not sure how independent any pick for the role ever is.

Edit to add: since the RBA was formed in 1960, only 2 of the 8 (including Lowe) governors have served more than 7 years, with both of them doing 10, so this doesn't really seem out of the ordinary
Click to expand...

I've no problem with him leaving, whether on his terms or not. It's the outcry of the uninformed and fuelling by conservative media that amuses me. Those interest rates were at all time lows for all time longs...everyone should have been well informed that wouldn't last forever.

Something something...the interest rate hikes we had to have.
 
You must log in or register to reply here.
Top