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susan-p-t.bsky.social
@susan-p-t.bsky.social
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grogsgamut.bsky.social
Embarrassing

Actually inflation *has* moderated,

Govt spending is inflationary... actually it is stabilising the weak private sector. (Some economists really want a recession (their jobs are safe))

Large wage increases? lulz. Real wages are still about 5% below 2021 levels.
Idiotic economics from an AFR op-ed: "The treasurer made a bet as soon as this government was elected that – faced with high inflation – he could spend expansively but still see multiple interest-rate cuts from the Reserve Bank before the next election. The logic went like this. First, inflation was the product of global factors like supply chain disruptions stemming from the pandemic, and so inflation would moderate all by itself. Second, government spending – even at scale – isn’t particularly inflationary. And third, the large wage increases that cabinet and the union movement demanded also wouldn’t be inflationary because wages are just a way of carving up the economic pie between capital and labour. Wrong. Wrong. Wrong."
January 2, 2025 at 4:45 AM
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maplepoutine.bsky.social
A fake reality TV star as President picking fake experts from Fox TV to fill his cabinet is the stuff of an SNL sketch, except we don’t get to turn the channel
November 13, 2024 at 12:40 AM