The Greens

[Gralin]

Right now we 100% know that the next RBA move is a rate cut. The only decision they need to make is the timing.

Regarding the RBA being held accountable for their performance - what are their performance objectives?

They have one performance objective with regard to how the system currently works - to control inflation. That is it.

This sums up my view on finance people - they are nothing more than bog average administrators who make obscene money by skimming margins. There is nothing special about what they do.

That's incorrect they also have a mandate to maintain full employment but they're ignoring that one

 

[Johnny Bananas]

No
I don't trust them

Well, can't blame you. At the end of the day they won't upend the system, just make it less intolerable.

 

[Rotayjay]

Attention-seeker or renters’ champion? The Greens MP driving pollies up the wall

Max Chandler-Mather is shaking up federal politics with his uncompromising take on the housing crisis.

www.brisbanetimes.com.au

The conduct of the major parties, and especially Labor, towards this man is pretty appalling.

People (read: most MPs who are property investors) really go off when you (read: Max Chandler-Maher) touch a raw nerve (read: their increasing riches from property investment is contributing to a crisis).

 

[Gralin]

Well, can't blame you. At the end of the day they won't upend the system, just make it less intolerable.

They're the best chance of that we've got currently

 

[Aristotle Pickett]

Greens bashing seems to be quite the fashion these days even though they have superior policy and no ties to corporate lobby groups.

 

[Gralin]

Greens bashing seems to be quite the fashion these days even though they have superior policy and no ties to corporate lobby groups.

I'm quite happy to criticise the party I voted for

The alternative is barracking like Labor stans

 

[Johnny Bananas]

People (read: most MPs who are property investors) really go off when you (read: Max Chandler-Maher) touch a raw nerve (read: their increasing riches from property investment is contributing to a crisis).

I don't really like that there are still Greens MPs that are property investors too, but at least that doesn't stop them advocating the same things Chandler-Mather is.

 

[Johnny Bananas]

Right now we 100% know that the next RBA move is a rate cut. The only decision they need to make is the timing.

No, we know the trend is leaning that way. But what if the CPI has a big spike in the next two quarters?

Regarding the RBA being held accountable for their performance - what are their performance objectives?

"It is the duty of the Reserve Bank Board, within the limits of its powers, to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia and that the powers of the Bank ... are exercised in such a manner as, in the opinion of the Reserve Bank Board, will best contribute to:

1. the stability of the currency of Australia;
2. the maintenance of full employment in Australia; and
3. the economic prosperity and welfare of the people of Australia."

- Reserve Bank Act 1959, Section 10(2)

I think that third one in particular is being neglected.

They have one performance objective with regard to how the system currently works - to control inflation. That is it.

Incorrect, see above.

This sums up my view on finance people - they are nothing more than bog average administrators who make obscene money by skimming margins. There is nothing special about what they do.

I agree fully.

 

[Gralin]

Ah yes the RBA


We're not planning for a recession but we're not ruling it out either

 

[QuietB]

That's incorrect they also have a mandate to maintain full employment but they're ignoring that one

Full employment to the elites means 5% unemployment or something. They need a few spares on standby.

Unemployment figures are a total farce though. It is barely even a relevant figure.

 

[Gralin]

Full employment to the elites means 5% unemployment or something. They need a few spares on standby.

Unemployment figures are a total farce though. It is barely even a relevant figure.

Underemployment is a better figure yes

My point is the elites are running the RBA and they're policy is largely designed to suppress wages not inflation

 

[Seeds]

Greens bashing seems to be quite the fashion these days even though they have superior policy and no ties to corporate lobby groups.

They dont have superior policy.

What they do well is identify the biggest problems and aim to go bigger then the other parties in fixing them. Eg. They rightly point out that labors policy solutions to the housing crisis are tokenistically small to being almost pointless.

What they dont do well is get the right policies to fix the problems. Their policy solutions often either dont fix the problem like they think it will or will create new problems.

 

[Aristotle Pickett]

They dont have superior policy.

What they do well is identify the biggest problems and aim to go bigger then the other parties in fixing them. Eg. They rightly point out that labors policy solutions to the housing crisis are tokenistically small to being almost pointless.

What they dont do well is get the right policies to fix the problems. Their policy solutions often either dont fix the problem like they think it will or will create new problems.

Disagree , that's the cliched narrative.

 

[Seeds]

Underemployment is a better figure yes

My point is the elites are running the RBA and they're policy is largely designed to suppress wages not inflation

And how exactly do they do that when the only policy lever they use at the moment is interest rates?

Wages growth in developed economies has been weaker relative to capital rent growth over the past 30 years due to reduced union power, the opening up of global capital markets, increased participation rates of female workers and increased immigration. The first two being the main drivers. This has nothing to do with central banks.

 

[Seeds]

Disagree , that's the cliched narrative.

Sometimes cliches are true.

Rather then advocate for good policies to fix inequality like wealth taxes and inheritance tax the greens have been advocating for higher income tax (which simply punishers hard working young people from lower classes) and minimum universal wages.

Rather than advocate for policies to boost housing supply the greens advocate for rent caps and forcing the rba to lower rates. Short term populist fixes with terrible medium to long term ramifications.

Some of the greens policies are good. My post was a bit simplistic to get a message across. But there is a lot of terrible policies even though the initial intent was right. The greens need to spend more time getting help from experts to devise their solutions. If they do that they might start getting votes from more than just young people.

 

[Aristotle Pickett]

Sometimes cliches are true.

Rather then advocate for good policies to fix inequality like wealth taxes and inheritance tax the greens have been advocating for higher income tax (which simply punishers hard working young people from lower classes) and minimum universal wages.

Rather than advocate for policies to boost housing supply the greens advocate for rent caps and forcing the rba to lower rates. Short term populist fixes with terrible medium to long term ramifications.

Some of the greens policies are good. My post was a bit simplistic to get a message across. But there is a lot of terrible policies even though the initial intent was right. The greens need to spend more time getting help from experts to devise their solutions. If they do that they might start getting votes from more than just young people.

They do have their policies vetted. Income tax for the wealthy is a very reasonable and overdue policy. A mining tax is a very reasonable policy.
Putting dental care on Medicare is very reasonable and saves money in the long run.
It costs $2 billion a year yet we want to spend $80 on nuclear subs which Paul Keating rightly calls an ineffective joke.