Opinion AUSTRALIAN Politics: Adelaide Board Discussion Part 5

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Slippery Pete said:
If 1)not all the surgeries were counted because it relied on you volunteering to count yourself and 2) an air conditioner fell on some of those patients and it was marked as a death from surgery, I’d just be staying away from the data on that surgery altogether.

But I digress…

Where’d you get your original data from? This says as at December 31, 2021, there had been 395,504 cases and 2239 deaths.

Much lower pre-vaccine case-fatality rate than you originally quoted.

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The figures I used were both for cases and deaths until the end of November 2021 which was just before the massive spike started where the infections started getting completely out of control from December onwards.

Death from COVID is not instanteous, it's not like you contract COVID and instantly die. There's a lag effect of around 4-6 weeks. You can see that the death figures remain linear until the end of January before they dramatically increase which coincides with the spike in infections that started from December.

Including the massive spike in December would serve nothing other than trying to disingenuously dilute the numbers. The end of November is the logical cut off point in terms of a reference point.

At the end of the day the maths clearly supports the fact that COVID post vaccine and Omicron has been a different beast.
 
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relapse said:
Here are some basic numbers for Australia from Worldometer

As of December 2021 there had been around 100k COVID cases in total and approx 2000 recorded deaths from those 100k cases = approximately a 2% fatality rate.

During 2022 there was approx 10 million COVID cases in Australia and approx 16k recorded COVID deaths in that year = .16% fatality rate

If you were to use that 2021 fatally rate and apply that across the 10 million cases we'd be looking at 200k deaths instead of 16k.

Whether you agree or not, the numbers check out in relation to the increase in deaths in 2022 and they also suggest that there could have potentially been 150k+ lives saved through a combination of vaccination and omicron.
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Slippery never lets proper analysis of data get in the way of his made-up narrative.

The simplest of correlations and he draws what he considers to be infallible conclusions supporting his drivel.
 
Hey grim Jim remember this.....how about you start taking responsibility for the shambles that is the cost of living crisis and the 13 interest rate rises on your watch. Stop blaming everything else but your own incompetence.. Talk about getting bitten on the arse by his own words.


 

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www.dailymail.co.uk

PVO: Jim Chalmers plays the blame game as Australia's economy slumps

The late American political satirist PJ O'Rourke once said that blaming central banks for high interest rates is like blaming your bathroom scales for putting on weight.
www.dailymail.co.uk www.dailymail.co.uk

PETER VAN ONSELEN: Australia's economy is far from flourishing. So what does Jim Chalmers do? Blame someone else much more qualified than himself, of course​


The late American political satirist PJ O'Rourke once said that blaming central banks for high interest rates is like blaming your bathroom scales for putting on weight.

That's exactly what Treasurer Jim Chalmers did last night when he accused the Reserve Bank of Australia of 'smashing' the economy with its interest rates strategy.

Never mind that the RBA has repeatedly pointed out that it's had little choice but to put rates up because of out of control inflation. Why is inflation too high? Because of the fiscal recklessness of government spending.

While inflation continues to drop around the world, allowing overseas central banks to bring rates back down, that hasn't been the case here in Australia.

Why? Because of home grown inflationary pressures. State and federal governments spending beyond their means, stoking inflation and worsening the cost of living crisis with their economic incompetence.

Yet Chalmers chooses to attack RBA Governor Michele Bullock for simply doing her job.

It's unedifying, ignorant and out of line.

Readers can decide for themselves who they trust more when it comes to managing the monetary and fiscal policy settings of the economy.

A Treasurer (unqualified in economics) whose PhD in politics looked at Paul Keating's political communication. Or Bullock whose postgraduate study in economics from the London School of Economics, no less, examined the ins and outs of interest rate policy design.

89172289-13803103-image-a-16_1725236711422.jpg


Treasurer Jim Chalmers (pictured) attacks the RBA for rate rises even though the central back has said they are staying high because of too much government spending
RBA Governor Michele Bullock (pictured) is prepared to walk the walk on rates, despite criticisms by the Treasurer



Bullock is a career expert at the RBA, the first female deputy governor before becoming the first female governor. She's spent the last 15 years at the apex of the organisation. Chalmers appointed her as Governor, so he can't even whinge that her accession happened on the Coalition's watch.

Apart from anything else, attacking the RBA for its decision making on rates, rather than heeding its warnings about fiscal profligacy, is a clear indication that the two important institutions of the Treasury (under Chalmers leadership) and the RBA (under Bullock's) are grinding the gears of the economy in different directions.

This is dangerous, the same way it would be to drive a car while applying the brakes and the accelerator at the same time.

Chalmers attack on the RBA is politically motivated, it's that simple. With an election on the horizon he doesn't want to agree with its assessment that to fight inflation the government must rein in spending.

How would Labor buy votes if it followed such advice? Accepting the RBA's assessment would also be an admission by the government that it is responsible for the difficulties people are facing in these tough economic times.

So instead the unqualified Treasurer has wheeled himself out to try and deflect blame for the economic crisis he's presiding over to the RBA.

It reflects adversely on Chalmers in more ways than one.
The growing unpopularity of Anthony Albanese (pictured) could derail Labor's election campaign, as a new poll has the major parties evenly matched
Meanwhile, an opinion poll released today shows that voters aren't necessarily convinced that the Coalition would do a better job managing inflation.
While more voters believe a Coalition government would bring inflation down (25 per cent) rather than send it north (18 per cent), 41 per cent of those polls think it wouldn't make any difference who was in office.
The Newspoll for the second time in a row has the major parties tracking at 50 per cent two party support a piece, suggesting a hung parliament is in the offing.
The most worrying aspect of the poll for the Labor government would be the decline in Prime Minister Anthony Albanese's support.
The once popular PM is now registering a dissatisfaction rating of 54 per cent in the community, suggesting he's become a drag on the Labor vote. However, with the next election due by May next year, Labor will 'ride or die' with Albo as leader, as one MP told Daily Mail Australia.

​

 
relapse said:
Including the massive spike in December would serve nothing other than trying to disingenuously dilute the numbers. The end of November is the logical cut off point in terms of a reference point.
Click to expand...

All of the numbers are bullshit. They counted people with all sorts of ailments as Covid deaths. They counted people in palliative care who had days to live.

The “case-fatality” statistics were all complete bullshit all over the world.

If you chose to use any critical thinking skills whatsoever you would’ve seen that they were very clear about those stats being completely manipulated.

You chose not to hear it.

relapse said:
At the end of the day the maths clearly supports the fact that COVID post vaccine and Omicron has been a different beast.
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Why did the excess death continue beyond 2022?

Was that the super deadly Omicron strain too?
 
Maddogmetro said:
Slippery never lets proper analysis of data get in the way of his made-up narrative.

The simplest of correlations and he draws what he considers to be infallible conclusions supporting his drivel.
Click to expand...

I’ve never seen a poster worse than you at completely ignoring medical data and the opinions of medical people, in favour of the nonsense you were politically brainwashed with in 2020 and 2021.

It’s not too late to admit you got it wrong, Mad Dog.


Slippery Pete said:
ADL9798

From the Senate hearing on excess deaths:

“It would be fair enough if everybody in the community was equally at risk…. unfortunately that was not the case. Yet we treated everybody as though they were. And that sacrificed one group of people for the potential, or the puported benefit of another.

“But complicating that strategy in addition was the fact these vaccines did barely nothing to prevent transmission anyway.

“The younger people getting vaccinated to protect more vulnerable people… they weren’t actually protecting those more vulnerable people. From our patient perspective, we just see so many people, who were living full, active, very vibrant lives, and that’s been destroyed now.

“People who didn’t need to have the vaccine, but felt compelled to, or they were coerced to, in order to ‘protect’ their community or family… or even if they thought Covid was a big risk for themselves…but actually it wasn’t.”


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Slippery Pete said:
“Recipients of two or more injections of the mRNA vaccines display a class switch to IgG4 antibodies. Abnormally high levels of IgG4 might cause autoimmune diseases, promote cancer growth, autoimmune myocarditis and other IgG 4-related diseases.
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Victoria's compo payout for cancelling the Com Games will literally pay all Glasgow's cost for staging the games.

Glasgow Commonwealth Games would cost tiny fraction of Victoria’s​

Cost blowouts on the $6.9 billion cancelled Commonwealth Games in regional Victoria were not overstated despite Victoria’s Games plan being 31 times more expensive than a “compact” replacement pitched for Glasgow, the state government has insisted.

Commonwealth Games Scotland said it had an “innovative, cost-effective and sustainable” proposal that would not require any government funding, at a total estimated cost of £114 million ($222 million). Most of the cash would come from compensation the Victorian government paid for tearing up its contract for the 2026 event.
The Glasgow event would host only 10 sports, compared with the 21 Victoria had been preparing for. There would be just four venues no more than 13 kilometres apart. Existing stadiums, accommodation and transport connections would be relied on to avoid the need for building major infrastructure.
Victoria abandoned the Games in July last year when the estimated cost soared from $2.6 billion to almost $7 billion. But in March the Victorian Auditor-General’s Office found this updated cost was “overstated and not transparent”.

Then-premier Daniel Andrews said last year that the cost would still have been well over $4 billion had the Games been cut back to a Melbourne-only event.
Cabinet minister Mary-Anne Thomas rejected suggestions that Victoria’s cancelled Games were badly organised or that the cost had been overstated.

“We were wanting to do something unique. We wanted to ensure that the benefits of the Comm Games flowed directly to the regions,” Thomas said. “At the end of the day, the money just did not stack up.”
The report from the Auditor-General’s Office said the flawed business case should have looked into the cost of hosting events in Melbourne or just one regional city.
Federal Nationals leader David Littleproud told Nine’s Weekend Today program that Australia could have used existing infrastructure to keep the 2026 event.

“But unfortunately, we’ve forked out $600 million, and it only took the Scots $200 million to run a Games.”
Victoria paid the Commonwealth Games Federation and Commonwealth Games Australia a combined $380 million in compensation. The state spent at least $589 million not to host the Games.
Under the Commonwealth Games Scotland proposal, £100 million (AUD$194 million) of the compensation would go towards a Glasgow event. The rest would be funded through “commercial opportunities”, without the need for any government funding.
“Unique to this opportunity, the Games will be funded by private income rather than the public purse, with the majority of costs covered by the [Commonwealth Games Federation], using money secured in a compensation negotiation with the Victorian government following their withdrawal as hosts in July 2023,” Commonwealth Games Scotland said.
“Unlike other major multi-sport events, the concept has been specifically designed to ensure that there is no requirement from the public purse to deliver the Games.”

The estimated total cost included a budget contingency of 24 per cent.


 
Not telling us anything that we didn't already know....except those lefties that walk around with their fingers in their ears oblivious to the obvious...


Screwing up the country’ JP Drake blames rush to renewables for power hikes crippling businesses​

A prominent supermarket boss has taken aim at the country’s “rush to renewables”, saying the rapid shift was to blame for power price hikes.
Drakes Supermarkets boss John-Paul Drake has blasted the “rush to renewables” for soaring power bills which threaten the company’s growth.
Drakes, which employs more than 6000 people, has seen energy costs rocket from $10m in 2023 to an estimated $14.5m this year and issued a grim warning about renewables “screwing up the country.”

Drakes was among iconic South Australian companies surveyed by The Advertiser to find the impact of crippling power bills — it revealed they are grappling with mammoth increases of up to 60 per cent, with one saying it has been forced to pass on costs to customers.
Mr Drake said the business needed to remain in competition with supermarket giants Coles and Woolworths which meant they could not increase the cost of goods to offset their rising power bills costs.

He believes part of the reason for spiralling bills is Australia’s “rush” to shift to renewables.

“I think this is the reason we are paying so much more for electricity, because we are trying to go all to renewables,” he said.

“I think we have got to be very cautious about trying to be green and realise how much it has screwed up the whole of the country.”
The supermarket chain has opened three new sites across the state in the past year but Mr Drake said without the burden of hefty power bills, they would be able to do more.

“It means we don’t grow as much, which means we can’t employ more people, which means we can’t buy more sites,” he said.

“It causes us to be very cautious about how we move forward, it makes us not as optimistic about what we can do.”

Businesses have told The Advertiser they are seeing significant jumps in their power prices when their contracts wrap up and they go to market for a new agreement.
Seeley International, which produces airconditioning and gas heaters, also saw an almost 60 per cent increase in their power bills.

Group managing director Jon Seeley said their electricity use has remained fairly steady but their bills have soared.

Mr Seeley said the company has had to increase prices to make up for the growing power costs.

“We have to regularly review our cost base, including power prices and wages and all other costs and we do have to pass on price increases through to our customers,” he said.
But he added they try to do this “as little as possible” and typically follow broad inflation.

To mitigate growing power costs, Mr Seeley said the business has sought to modify its electricity use which includes investing in new, more efficient equipment.

He added they were looking at including solar in their factory extension works at Lonsdale but as a company with a “relatively energy intensive manufacturing process, even if we cover our roof with solar panels, it doesn’t make a huge difference.”

According to an SA Business Chamber report, South Australia has experienced the biggest increase in electricity bills in Australia.
Angove Family Winemakers joint managing director Richard Angove said they have seen around a 45 per cent increase in their power bills after they went to market for a new energy contract last November.

In recent years the company has approximately halved its grape intake which has significantly reduced the company’s energy use. However Mr Angove said that has not been reflected in their growing power bills.

He said energy prices were an economy-wide problem leading to inflationary pressures for businesses across the board.
 
Finally worked out that Albo's far left buddies will see to it he never was going to get the numbers for the PM job he so much coveted.Albo saw to that when he handed him the poisoned chalice that is the NDIS portfolio.



Former Labor leader Bill Shorten to leave politics, takes up University of Canberra role​

Former Labor leader and NDIS Minister Bill Shorten, who twice bid to become the nation’s prime minister, has announced his retirement from politics to take up a new university role.


Don't miss out on the headlines from Victoria. Followed categories will be added to My News.
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Former Labor leader and NDIS Minister Bill Shorten has sensationally announced his retirement from politics.
Mr Shorten announced he is stepping down from parliament at a press conference at Parliament House in Canberra alongside Prime Minister Anthony Albanese on Thursday morning.
He has served as the member for Maribyrnong in Melbourne since 2007.
Mr Shorten will continue to serve as NDIS Minister until February next year.
He will take on a new role as Vice Chancellor of the University of Canberra.
 
Slippery Pete said:
I’ve never seen a poster worse than you at completely ignoring medical data and the opinions of medical people, in favour of the nonsense you were politically brainwashed with in 2020 and 2021.

It’s not too late to admit you got it wrong, Mad Dog.
Click to expand...

Years down the track, and you still just do not understand simple concepts about this.

You keep posting the same shit over and over, and people keep explaining the same thing to you over and over.

You are a lost cause and a waste of time.

And then you, somehow, are on your high horse thinking that you were right and all the other people were wrong. The delusions of grandeur that you exhibit do not assist you.
 
Mutineer said:
Finally worked out that Albo's far left buddies will see to it he never was going to get the numbers for the PM job he so much coveted.Albo saw to that when he handed him the poisoned chalice that is the NDIS portfolio.



Former Labor leader Bill Shorten to leave politics, takes up University of Canberra role​

Former Labor leader and NDIS Minister Bill Shorten, who twice bid to become the nation’s prime minister, has announced his retirement from politics to take up a new university role.


Don't miss out on the headlines from Victoria. Followed categories will be added to My News.
unfollow
Former Labor leader and NDIS Minister Bill Shorten has sensationally announced his retirement from politics.
Mr Shorten announced he is stepping down from parliament at a press conference at Parliament House in Canberra alongside Prime Minister Anthony Albanese on Thursday morning.
He has served as the member for Maribyrnong in Melbourne since 2007.
Mr Shorten will continue to serve as NDIS Minister until February next year.
He will take on a new role as Vice Chancellor of the University of Canberra.
Click to expand...
This is an absolute disgrace, and the UC (a Dawkins "university") should fold.
Political appointments to the board, and even as a ribbon-cutting Chancellor, are normal and fine.
However, appointing someone like this with zero qualiifications as VC, i.e., the boss, responsible for all academic standards, is ludicrous. :mad:
 
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Out of control under this big spending incompetent Albanese Labor Government with grim Jim Chalmers hopelessly out of his depth...and getting worse by the day!!! The usual suspects gone very very very quiet on here I see.


RBA governor Michele Bullock says high interests rates will remain elevated, cuts ‘premature’​

The RBA boss has acknowledged the harsh realities of high interest rates on Aussie households, however she said it was required to quell inflation.

Reserve Bank governor Michele Bullock has acknowledged the bleak reality of households struggling with high interest rates, and conceded some may “make the difficult decision to sell their homes”.
In a speech to the Anika Foundation fundraising lunch in Sydney on Thursday, Ms Bullock said the board was “very conscious” of how interest rates, currently at 13-year-high of 4.35 per cent, were affecting households and business.

She said about 5 per cent of borrowers were struggling with a “cash flow shortfall,” where essential spending and mortgage repayments were in excess of their income, with Ms Bullock admitting this group would need to make “quite painful adjustments”.

“This includes things like cutting back on their spending to the more essential items, trading down to lower quality goods and services, dipping into their savings or working extra hours.

Some may ultimately make the difficult decision to sell their homes,” she said.

“A really important point to note here, is that lower income borrowers are over-represented in the group of people who are really struggling.”
However, she said “inflation causes hardship too,” especially for vulnerable Australians.

“Our experience of how costly inflation can be is the reason that getting inflation back to the target range is our priority,” she said.

Inflation is currently 3.8 per cent, above the RBA’s target range of 2-3 per cent.

However Ms Bullock doubled down on her warning that Australians should not expect a rate cut in the near term, saying inflation is the number one risk to the household economy.

She said that was why the RBA expected the cash rate would remain elevated for some time and that it was “premature” to be talking about rate cuts.

At the earliest, most economists have tipped a February rate cut, with others saying it could be delayed until the second quarter of the year, after March.

“Circumstances may change, of course, and if economic conditions don’t evolve as expected, the Board will respond accordingly,” said Ms Bullock.

“But if the economy evolves broadly as anticipated, the board does not expect that it will be in a position to cut rates in the near term.”
 
Yep them windmills and suncatchers in South Australia sure do make a difference....mostly bad!!


Rising power bills hit SA hospitality operators, electricity costs up 30 per cent​

South Australian hospitality operators are struggling under the weight of skyrocketing power bills which have shrunk profits and left some cutting their own superannuation just to survive.

South Australian hospitality operators are struggling under the weight of skyrocketing power bills which have shrunk profits and left some cutting their own superannuation just to survive.
Business owners both big and small have told The Advertiser how electricity bills have risen “exponentially” in recent years – and up to 30 per cent in some cases – leaving operators under pressure to keep their doors open.

Many have resorted to changing their energy providers regularly or entering into payment plans just to make sure they can pay their growing bills.

Josh Rivers, who owns four hospitality businesses around Adelaide, including popular Brighton Rd cafe CREAM, said electricity prices have “gone through the roof” in recent years – with no explanation.

Mr Rivers said his power bills jumped 30 per cent from 2022 to 2023, up to a mammoth $20,000 a quarter, before he switched to a subscription-based energy provider this year, saving about $7,000. But he said it’s not enough with further increases on the horizon.
“It’s still huge. Power bills have exponentially risen each year and there’s no reason for it, there’s no clarity,” said Mr Rivers.

“What’s changed? Is there a shortage? Power companies are doing it because they can abuse people and we have no choice (but to pay).”

Mr Rivers said profit margins have shrunk across the industry, especially among smaller operators, claiming that up to 80 per cent of business owners were no longer paying themselves superannuation to cut costs.

“Everything is going through the roof and we can’t jack our prices up because people can’t afford to buy an $8 coffee,” he said.

“Profits are almost non-existent given the state of the economy. We’re just working to stay alive.”
It’s a similar story for Adelaide hotelier Greg Maitland, who estimated his energy bills had risen by about 30 per cent, or “hundreds of thousands of dollars” across his six venues over the past three years.

The GM Hotels Group owner said the “substantial” increase had stunted business growth as he battled additional costs passed on by suppliers.

“We’re working very hard just to hold the same spot, basically. There’s enormous pressure on hospitality businesses,” he said.

“For a smaller business, a family operation, it would be incredibly hard. You’re just working to employ everyone.
Mr Maitland said the group – which includes the Pier Hotel, The Paradise Hotel and The Whitehorse Inn – had tried solar panels and LED lighting across their hotels but saw little bill relief.

“A lot of our pubs are big venues catering for small windows of full capacity... and you can’t turn off the fridges or the airconditioners. We’ve got to keep it all running,” he said.

So far, they haven’t passed the increase to the consumer but Mr Maitland said inevitably, the price of food, drink and accommodation will have to rise in line with the growing cost of doing business.
Some of the state’s most well-known businesses revealed this week how power hikes are crippling their companies. Drakes, Seeley International and Angove Family Winemakers are among the businesses that are grappling with increases of up to 60 per cent.

Little Juniper Distilling Co owner and distiller Stuart Mackenzie said power prices were the biggest increases to hit his business over the past 4.5 years – rising more than a quarter in 2024.

“It has definitely increased, probably by a third, but we’ve had increases across the board,” he said.

“Opening during Covid was tough but it’s about as tough now. We’re spending more to make less.”

Mr Mackenzie said the business would be expanding to Nairne soon to make rum and whisky, and would operate with other distillers and brewers.

“Obviously electricity is a big factor for us and when we’re looking at making new products, our electricity prices are going to skyrocket,” he said.
 

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Maddogmetro said:
Years down the track, and you still just do not understand simple concepts about this.

You keep posting the same shit over and over, and people keep explaining the same thing to you over and over.

You are a lost cause and a waste of time.

And then you, somehow, are on your high horse thinking that you were right and all the other people were wrong. The delusions of grandeur that you exhibit do not assist you.
Click to expand...

If you think they’re so safe go and have a bunch more of them.

Secondly if you’re going to rant on and on about not understanding “simple concepts” then you must surely be able to comprehend and/or explain the concepts the medical experts highlight in the post of mine you quoted.
 
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Mutineer said:
Finally worked out that Albo's far left buddies will see to it he never was going to get the numbers for the PM job he so much coveted.Albo saw to that when he handed him the poisoned chalice that is the NDIS portfolio.



Former Labor leader Bill Shorten to leave politics, takes up University of Canberra role​

Former Labor leader and NDIS Minister Bill Shorten, who twice bid to become the nation’s prime minister, has announced his retirement from politics to take up a new university role.


Don't miss out on the headlines from Victoria. Followed categories will be added to My News.
unfollow
Former Labor leader and NDIS Minister Bill Shorten has sensationally announced his retirement from politics.
Mr Shorten announced he is stepping down from parliament at a press conference at Parliament House in Canberra alongside Prime Minister Anthony Albanese on Thursday morning.
He has served as the member for Maribyrnong in Melbourne since 2007.
Mr Shorten will continue to serve as NDIS Minister until February next year.
He will take on a new role as Vice Chancellor of the University of Canberra.
Click to expand...

Will pop up on the Collingwood Board very soon.
 
StonesThrow said:
Rapid interest rate hikes are supposed to slow spending fast. That's literally the only thing they can do.

I'm not sure why this is even a discussion. They've been operating the same way for decades.
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Well you best pass that on to Albo and grim Jim Chalmers because they sure as hell aren't heeding your advice with their spending ....far from it. Government spending is out of control.
 
Mutineer said:
Well you best pass that on to Albo and grim Jim Chalmers because they sure as hell aren't heeding your advice with their spending ....far from it. Government spending is out of control.
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Part of my point was that I don't understand why people are saying chalmers is wrong to say hiking rates damages the economy. Everyone knows that's exactly what they're supposed to do.

Regarding spending, I agree governments are spending too much. It's called pork barrelling to win elections and is a big problem and a trap for political parties. You can't win an election unless you promise 'jobs and growth' and back it up with large $$ regardless if that spending is prudent.

Labor is trapped with high inflation but also wanting to spend (adding to inflation) so it can win another election. LNP will be no different and you'll find that the situation was the same before albo came in. Pork barrelling and lobbying ****s over everyone. This is our system.
 
StonesThrow said:
It wasn't even that long ago that interest rates were higher than they are now. There wasn't much scrutiny on the RBA back then
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See above and hear it in grim Jim Chalmers own words where he blames the then Morrison Government for an interest rate/cost of living...tell grim Jim Chalmers you can't run with the fox and hunt with the hounds in that regard. At least the Morrison Government's rise was during the pandemic....Grim Jim has no excuse at all.

This from the Guardian back then..

If it was a full-blown cost of living crisis then according to Grim Jim Chalmers, it's now an atomic full-blown cost of living crisis on steroids under Albo and Grim Jim Chalmers.

www.theguardian.com

Labor says rate rise highlights PM’s shredded credentials but Morrison insists it’s part of pandemic journey

Scott Morrison says Reserve Bank has ‘made a very important statement about where we are now in our journey out of this pandemic’
www.theguardian.com www.theguardian.com

Labor says rate rise highlights PM’s shredded credentials but Morrison insists it’s part of pandemic journey​


Scott Morrison says Reserve Bank has ‘made a very important statement about where we are now in our journey out of this pandemic’

Labor has seized on the Reserve Bank’s decision to lift the cash rate by 25 basis points to argue the prime minister’s economic credentials are “shredded”, while Scott Morrison says the hike reflects Australia’s “journey out of the pandemic”.

Following the bank’s decision to lift the official rate from a record low 0.1% to 0.35%, the opposition treasury spokesman, Jim Chalmers, said on Tuesday afternoon that Morrison had overseen a “triple whammy” of cost of living pressures: higher interest rates, soaring inflation and stagnant wage growth.


“This is a full-blown cost of living crisis on Scott Morrison’s watch and now interest rate rises are about to be part of the pain,” Chalmers said. “This is a crisis. Families who were already finding it hard enough to get ahead – now they are finding it that much harder.”

The Reserve Bank governor, Phillip Lowe, said the rate hike was needed to address rising inflation. He said it was “the right time to begin withdrawing some of the extraordinary monetary support that was put in place to help the Australian economy during the pandemic”.
 
Mutineer said:
See above and hear it in grim Jim Chalmers own words where he blames the then Morrison Government for an interest rate/cost of living...tell grim Jim Chalmers you can't run with the fox and hunt with the hounds in that regard. At least the Morrison Government's rise was during the pandemic....Grim Jim has no excuse at all.

This from the Guardian back then..

If it was a full-blown cost of living crisis then according to Grim Jim Chalmers, it's now an atomic full-blown cost of living crisis on steroids under Albo and Grim Jim Chalmers.

www.theguardian.com

Labor says rate rise highlights PM’s shredded credentials but Morrison insists it’s part of pandemic journey

Scott Morrison says Reserve Bank has ‘made a very important statement about where we are now in our journey out of this pandemic’
www.theguardian.com www.theguardian.com

Labor says rate rise highlights PM’s shredded credentials but Morrison insists it’s part of pandemic journey​


Scott Morrison says Reserve Bank has ‘made a very important statement about where we are now in our journey out of this pandemic’

Labor has seized on the Reserve Bank’s decision to lift the cash rate by 25 basis points to argue the prime minister’s economic credentials are “shredded”, while Scott Morrison says the hike reflects Australia’s “journey out of the pandemic”.

Following the bank’s decision to lift the official rate from a record low 0.1% to 0.35%, the opposition treasury spokesman, Jim Chalmers, said on Tuesday afternoon that Morrison had overseen a “triple whammy” of cost of living pressures: higher interest rates, soaring inflation and stagnant wage growth.


“This is a full-blown cost of living crisis on Scott Morrison’s watch and now interest rate rises are about to be part of the pain,” Chalmers said. “This is a crisis. Families who were already finding it hard enough to get ahead – now they are finding it that much harder.”

The Reserve Bank governor, Phillip Lowe, said the rate hike was needed to address rising inflation. He said it was “the right time to begin withdrawing some of the extraordinary monetary support that was put in place to help the Australian economy during the pandemic”.
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Libs/Labor had little control over inflation since the pandemic. Same economic conditions have plagued most countries.

The only real strategy the governments have had would be to wind back some large infrastructure projects to free up labour and push down wages a bit. It's debatable how much impact this would have had given how many factors have driven up prices.

I don't think you realise how similar Labor and Liberals are with economic policy. How do you think Morrison's 'jobs and growth' slogan manifests? Spend lots of money on big projects. Labor does the same.

Homebuilder increased construction costs by >20% (costs are up over 40% now sive 2020) and the effects are still being felt. I was forced to abandon building and sell my plot of land. I bet you anything Labor would have also done something just as stupid.
 
I haven't actually liked Labor this term. Same with state gov. Just trying to hang onto another term and not following through with their policies.

Would consider voting LNP if it wasn't for their energy policy. If you think the energy market is struggling now through the transition (and it is), what LNP are proposing will make the next 20 years 10 times worse. They've already put us 10 years behind the 8 ball. It's beyond comprehension what they want to do.
 
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