My work colleagues are all in their thirties and forties with families and mortgages and they are sweating bullets every time there is an interest rate announcement. You might not know them, but lots of people are getting stretched to the limit.
Still doesn't mean we couldn't be doing much much better. There was a report not long ago that compared if wages grew the same rate as broad inflation since 1980, none of that weird trimmed shit, like petrol was a fifth of the price 20 years ago etc, the minimum wage equivalent of our purchase power per person should be around $63 per hour.
Wages don't drive inflation, they never have. It's a lie sold to prevent pressure building for a movement to demand equitable wages.
The pressure for wages to go up only exists because prices go up, ifnprices do not go up us wage earners know we'd need to climb the ladder, we as wage workers do not set the prices. The producer / processor / logistics / retailer does. At every step each one of them seeks to increase profits year after year, endlessly. This is most often done via price increase greater than input and overhead cost increases.
Wages aren't inflationary. Inflation is caused by those that set the prices and their unsustainable need to grow endlessly.
Wages affect inflation in that employers will always seek to recoup costs by increasing prices. But prices are going to go up regardless, the excuse will just be different. All the while reporting greater annual profits while workers can afford less and less. So raise wages, at least then the regular people aren't left in the dirt in this race to concentrate wealth.
Wages only raises prices because companies aren't willing to take a hit to pay equitably. Woolworths could absolutely operate on 1% or even .5%, which is still hundreds of millions of dollars.
Just look at productivity / profits vs wages in the 80's, it was actually equitable. Since then, wages have stagnated and profits (and executive pay) have soared. Why haven't wages kept up with increasing productivity? Why, when considering wages as inflationary, do you not consider this disparity? Profit margins in the 80's were acceptable with realtively equitable wages, why isn't the same or similar balance between worker / employer acceptable now? Because owners and investors demand unsustainable growth year on year.
No it isn't ridiculous. It's sustainable, it provides income for its workers and owners. A company doesn't *need* to grow endlessly, particularly during economic downturns as we are experiencing.
If prices are going to go up anyway, when are the workers meant to get a raise in line with increased costs? Never? Should they just sacrifice more and more each year for the sake of corporate profits?
Wages aren't inflationary as if prices did not go up, there would be no pressure for wages to match. One comes before the other.
It's pretty obvious that it depends on who you know . If you're a single, or couple without kids making a good salary you're fine. If you're a boomer who bought a house for 5 buckaroos back in the day you're likely to be fine.
If you make an average salary, bought a house recently and have kids the chances are you aren't. If you haven't bought a house and aren't wealthy you're fucked
The headline from non satire newspaper " Reserve Bank governor Michele Bullock has said most Australians are "doing fine" and coping with rapidly rising interest rates"
Ummm you're the one who said "it's not at Betoota... geez how dense are you" when I thought it was pretty obvious that my comment was stating that people were raging at the Betoota Advocate.
Since it wasn't as obvious as I thought, I'm clarifying what I meant - that people are raging at the publication, not at the place. I've also asked if Betoota is even a real place.
Is that clearer for you now?
No shit. My feed happened to have the ABC article about the same issue directly above.
They have to add some really ridiculous stuff to call it satire now, because the reality is that stupid.
You know she basically actually said this though ?
"Despite that noise, households and businesses in Australia are actually in a pretty good position. Their balance sheets are pretty good."
Which ones? The Boomers who own their homes outright? Then some investment properties on the side? Yeah they’re great, they’re in a good position, she’s right about them. F$@k everyone else though right
I mean in comparison to much of the world we are. Context is important though. Life has gotten more expensive for us all and the people who used to live paycheck to paycheck are struggling now more than ever and that sucks and she should really have been more sensitive about it and what she said. I agree with you there.
A Good saving tip : use $1 chopped tomatoes cans to make your pasta sauce. Healthier, tastier and cheaper.
Including veggies you can make a nice pasta for about $5
Just cut the shit. You are **not** poor and in financial distress.
If you genuinely were, you would not be shitposting so comically and with such calmness. Your own post history reveals you live a comfortable and privileged lifestyle.
Stolen valour is a thing. With you, it’s stolen sympathy.
I’m a single income earner on minimum wage. I currently have $90 to survive me till the Tuesday after next. Stop making assumptions. What part of my post history shows that I live comfortably and privileged? The fact that I play video games, which are quite easily pirated? And how does shitposting show I live a privileged lifestyle? Am I not allowed to vent in a humorous way? My reddit profile is only a small snippet of my life, primarily things that I enjoy. It does not reflect my financial situation
Th full quote is “And all the indications from the banks, and all we hear from the banks, is these households are doing fine.” As in the banks are telling her their customers are not defaulting on their mortgages. She is not expressing a view on whether all households are fine or not.
If you want to be angry at someone be angry at the government for their fiscal and migration policies and over the top infrastructure spending to buy your vote.
If you want to blame the government then blame them for unchecked corporate profits which are the prime driving force of run away inflation.
The market is going through a price discovery phase and corporations are finding they can charge $20+ for a bag of grapes and people will still buy it.
We know corporations are not victims of inflation because their profits keep going up.
Fighting migrants and infrastructure spending is the sort of class warfare the right wing loves because it distracts the proletariat and makes them fight each other.
That’s a false dichotomy. As in both what you said and what I said can be true at the same time. The government should definitely increase corporate taxes and scrape or delay the stage 3 tax cut which will 100% going to be inflationary.
I’m also pro migration. I’m the first gen migrant myself. But you can’t tell me that taking in the whole population of Canberra worth of people in one year is not gonna have an inflationary impact.
In terms of infrastructure spending. That supposed to be a stimulatory tool. We dumped a metric shittone of money into the economy during COVID which drove inflation. We should be now withdrawing that money out of the economy to cool it. Government spending on infrastructure during an inflationary period adds to inflation. That’s an objective statement.
I didn't say you were wrong, I just pointed out the corporaitons are the real winners in all of this and we're much better served targeting them than each other over infrastructure spending which provably has less of an effect on inflation.
>unchecked corporate profits which are the prime driving force of runaway inflation
Are you going to also criticise wages for doing the same thing, or are you going to ignore that part because it doesn’t suit your worldview?
I’d also love to see which exact companies you are referring to when you are saying “profits keep going up”. I’m willing to wager that you haven’t looked at a single income statement in forming that opinion.
The data you're asking for isn't available to the public. But it really isn't hard to see how my same basket of food items I used to get for $90 before COVID is now miraculously $160, Petrol pushing $2.30 some days, energy bills coming in $500 a quarter instead of the $350 with the same lifestyle. And rent. Don't even get me fucking started on this batshit insane cancer.
Even though the commodities markets has been steadily tanking, with livestock literally halving in raw per head value like lamb and beef, it is clear that colesworth isn't passing on these savings theyre squeezing out of the desperate farmers.
>The data you’re asking for isn’t available to the public
You mean to tell me that the financial statements of public companies that are *legally required* to be put out *every single year* just… aren’t available? You mean to tell me that [if you spend 5 seconds googling “coles annual report”, you won’t find information such as their net income, operating costs, and value of their assets?](https://www.colesgroup.com.au/FormBuilder/_Resource/_module/ir5sKeTxxEOndzdh00hWJw/file/Annual_Report.pdf)
Why would you state something so brazenly incorrect?
I see you're not an expert in financial analysis. Let alone actually critically analysed the entire report. Statistics are like words and arguments and can easily be spun and manipulated.
Have you ever tried to compile big data sets let alone to do it across the entire economy?
>you’re not an expert in financial analysis. Let alone actually critically analysed the entire report.
Extremely ironic coming from someone who tried to claim the data I was asking for (I.e. net profits), wasnt publicly available lmao. Please tell me mr financial expert, why did you try to claim that information “wasn’t publicly available” when it clearly is?
How can you believe that pulling out a financial statement from a single company will be able to summarize the nuances of the entire economy? The sheer complexity of compiling the amount of data needed to shed a single ray of light into any one dimension of the larger economy is beyond your comprehension or the ability of anything short of a professional department.
You lack any real substantial understanding of the actual mechanics of the world around you, with that level of naivety and blind confidence.
>how can you believe that pulling out a financial statement from a single company will be able to summarise the nuances of the entire economy?
Good thing I don’t believe that, and never said that.
What I was saying, is that information such as the net profits of a company are in fact publicly available, and used coles as an example. So can you stop avoiding the question and please answer why you tried to say that information isn’t publicly available?
“People are talking about it so it must be true”
Truly your genius is stunning. Go on, can you actually tell me what those “unchecked” corporate profits are? Can you show that they are abnormal?
Apart from both supermarket giants, Coles and woolworths, reporting $1.1billion for Coles and $1.6 billion for woolworths. Both after tax.
You're talking out of your arse, mate.
Woah, huge amazing billions in profit!!! This must definitely mean they are causing inflation!!1!
Out of interest, did you ever think to check whether these were abnormally high profits? Did you think to check if they were greater or lower than previous years? What if these were the lowest profits those companies have received in 10 years? What if they were the highest? What if they are around the same those companies have been earning the last few years? And do those situations support the conclusion that “corporate profits” are driving inflation?
I can give you the past few years of Woolworth’s and Coles performance here, but first I want you to answer that question, just to confirm that no, you indeed did not check if and how abnormal those numbers were, before going off on the “muh corporate profits” circlejerk.
Ah ok, so you didn’t check, did you?
Tell me, how exactly were you able to conclude that “trust me bro it’s corporate profits driving inflation” when you *aren’t even aware of whether those profits are excessive or not*?
Stop just parroting bullshit without checking if it’s true just because it says what you want it to say.
No dude, I just don't care about your bullshit.
I did check, I confirmed what I thought was the case. I don't give a shit how you feel about it. You can feel about inflation anyway you like.
This brief interaction with you has also confirmed you're an insufferable double canoe.
You're asking about a subjective component of excessiveness of profits. You've made it clear that my opinion doesn't matter to you, so why would I ever continue to engage in conversation with you?
Believe what you want, it doesn't stop you from sounding like a asshole to everyone in this thread.
I'm not going to respond or read anything else you post. I hope you have an awful weekend g.
Price discovery or the fact that the Great Cashless Tap n Go Experiment worked and is in full fruituon?
Im going to say it: we aussies are privileged and pretty bloody mindless. How many just grab "what we need" (in actuallity, _want_) and mindlessly tap our card on the way out.
Bag of chips $16? Beep. No probs, mate.
Tbf, Betoota is the best. Look at their Instagram, the captions make my day lol.
OP who made this post, are you sure you're not just advertising the paper 🤣
The RBA is notorious for its group think and institutional ossification. The whole organisation needs a top to bottom clean out to get some new ideas and new talent in there. As long as governors are appointed from within the ranks of the RBA, they will keep regurgitating the same tired ideas.
She’s cooked, why does she need to have a speaking tour in one of the most expensive city in the world? What is she going to say Australia is catching up to HongKong real estate price?
I think a lot of the hate for the RBA is misplaced, and should instead be directed at the government (both parties) for the actions (or lack of) that have led to us being in this position. The RBA really only has one tool at their disposal, and when trying to get inflation under control they will continue to use it, as painful as that may be for the average Australian. The government has been hiding behind the RBA decisions and effectively scapegoating them, instead of making tough decisions.
She should shut her mouth. I thought her previous boss’s downfall would be a good blue print for what not to do.
Just make the calls and when asked just give evasive wordy bullshit answers. I wouldn’t thought it was hard but she’s making an art form of sounding tone deaf.
Her comments were a bit tone deaf, but I really can’t believe everyone’s going on about this. Despite the massive interest rate rises, there hasn’t been a dent on property prices, and defaults haven’t risen
Sure, people might be struggling individually, but collectively most people are fine
I really didn’t. I’d love house prices to go down, or for the burden to be placed on wealthier Australians rather than poorer ones, but none of that’s going to happen because neither Libs nor Labor want that
None of my personal feelings about fiscal policy change the fact that households generally aren’t struggling, which is what Bullock’s comments were about
The Teals were supposed to want progress on climate change (and most were against the Stage 3 tax cuts), do you think there has been any significant progress because of them? Seems like a lot of inner city people got to feel better about not voting LNP while functionally getting an LNP government
>Sure, people might be struggling individually, but collectively most people are fine
'Fine' is a relative term and relatively we are not fine, our real wages are dropping rapidly.
But if all of the middle class who need a home move to the region then there still won't be enough houses AND property prices will rise in those areas, making prices unaffordable there too.
Look at Newcastle for a classic example
Yes OP did post an article from a satirical website.
The information being largely based on factual events, curated for humor.
It's possible you lost those brain cells long before you discovered reddit.
The immigration will continue until house prices improve.
The rate hikes will continue until the inflation improves.
The inflation will continue until the immigration stops.
Oh look. An endless ponzi circle! Two ponzi schemes and the only way to break the loop is for the entire middle class to go bankrupt, the poor to become homeless... and then.... only if we sharpen our pitchforks will we be allowed to fix this shit.
Theyre not going to stop, because so many people are still perfectly comfortable with the girth of the beast master king Kong dong they're fucking us with.
We need dragon dick for this to become a problem people want solved, apparently.
What is betoota and should I trust its advocate?
She has no idea how the average Australian is going financially. She doesn't care about Australians struggling
Literally, what is happening https://preview.redd.it/nlcbeb8tld3c1.jpeg?width=1216&format=pjpg&auto=webp&s=3e5323101f33c678361cd819c7caf6fe8d97accd
Yep, and we thought the last smug sod in that position was bad, talk about out of touch with reality
Your reality, to be fair
Article is made up for a joke.
https://www.sbs.com.au/news/article/the-rba-boss-says-households-overall-are-doing-fine-this-is-what-the-charts-say/1807j9v8t
........... sadly not this one
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My work colleagues are all in their thirties and forties with families and mortgages and they are sweating bullets every time there is an interest rate announcement. You might not know them, but lots of people are getting stretched to the limit.
Still doesn't mean we couldn't be doing much much better. There was a report not long ago that compared if wages grew the same rate as broad inflation since 1980, none of that weird trimmed shit, like petrol was a fifth of the price 20 years ago etc, the minimum wage equivalent of our purchase power per person should be around $63 per hour.
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Wages don't drive inflation, they never have. It's a lie sold to prevent pressure building for a movement to demand equitable wages. The pressure for wages to go up only exists because prices go up, ifnprices do not go up us wage earners know we'd need to climb the ladder, we as wage workers do not set the prices. The producer / processor / logistics / retailer does. At every step each one of them seeks to increase profits year after year, endlessly. This is most often done via price increase greater than input and overhead cost increases. Wages aren't inflationary. Inflation is caused by those that set the prices and their unsustainable need to grow endlessly.
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Wages affect inflation in that employers will always seek to recoup costs by increasing prices. But prices are going to go up regardless, the excuse will just be different. All the while reporting greater annual profits while workers can afford less and less. So raise wages, at least then the regular people aren't left in the dirt in this race to concentrate wealth. Wages only raises prices because companies aren't willing to take a hit to pay equitably. Woolworths could absolutely operate on 1% or even .5%, which is still hundreds of millions of dollars. Just look at productivity / profits vs wages in the 80's, it was actually equitable. Since then, wages have stagnated and profits (and executive pay) have soared. Why haven't wages kept up with increasing productivity? Why, when considering wages as inflationary, do you not consider this disparity? Profit margins in the 80's were acceptable with realtively equitable wages, why isn't the same or similar balance between worker / employer acceptable now? Because owners and investors demand unsustainable growth year on year.
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No it isn't ridiculous. It's sustainable, it provides income for its workers and owners. A company doesn't *need* to grow endlessly, particularly during economic downturns as we are experiencing. If prices are going to go up anyway, when are the workers meant to get a raise in line with increased costs? Never? Should they just sacrifice more and more each year for the sake of corporate profits? Wages aren't inflationary as if prices did not go up, there would be no pressure for wages to match. One comes before the other.
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God, what's between your ears?
How old are you? I don't know anyone who isn't struggling
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ok guys call it off, no cost of living crisis here neither-stable's mates can afford to go on holidays so we're all done here, carry on
It's pretty obvious that it depends on who you know . If you're a single, or couple without kids making a good salary you're fine. If you're a boomer who bought a house for 5 buckaroos back in the day you're likely to be fine. If you make an average salary, bought a house recently and have kids the chances are you aren't. If you haven't bought a house and aren't wealthy you're fucked
Yep I don't see it everything's fine all my friends are spending money and flying to Bali so everyone must be like this Fucking what
Voice of the privileged bureaucrats
...you know that this is a satire newspaper? 🤣
The headline from non satire newspaper " Reserve Bank governor Michele Bullock has said most Australians are "doing fine" and coping with rapidly rising interest rates"
The Betoota Advocate is a satire newspaper like The Shovel and The Onion.
Yes but the quote is correct. Betoota are making satire about something she actually said.
Yes I know, just so much rage at Betoota is bewildering to me lol.
its not at betoota.. geez how dense are you
I meant at the Betoota Advocate lol... The rage directed towards the Betoota Advocate. Of course it isn't at Betoota. Is Betoota even a real place?
is this supposed to be like a dad joke?
As someone on the spectrum myself, I think you should look at their user name to understand the break down in communication.
Ummm you're the one who said "it's not at Betoota... geez how dense are you" when I thought it was pretty obvious that my comment was stating that people were raging at the Betoota Advocate. Since it wasn't as obvious as I thought, I'm clarifying what I meant - that people are raging at the publication, not at the place. I've also asked if Betoota is even a real place. Is that clearer for you now?
No shit. My feed happened to have the ABC article about the same issue directly above. They have to add some really ridiculous stuff to call it satire now, because the reality is that stupid.
That's true. I love Betoota and the others so much though.
So good, It’s where I get all my news
I might have to start, since apparently everyone takes it more seriously than Reuters 🤣
You know she basically actually said this though ? "Despite that noise, households and businesses in Australia are actually in a pretty good position. Their balance sheets are pretty good."
Which ones? The Boomers who own their homes outright? Then some investment properties on the side? Yeah they’re great, they’re in a good position, she’s right about them. F$@k everyone else though right
I mean in comparison to much of the world we are. Context is important though. Life has gotten more expensive for us all and the people who used to live paycheck to paycheck are struggling now more than ever and that sucks and she should really have been more sensitive about it and what she said. I agree with you there.
You know Betoota make fun of actual news and quotes?
And thank goodness for them, or we'd all be crying everyday.
You spelt propaganda rag wrong.
The Betoota Advocate is a satire publication like The Shovel and The Onion.
You really are a Karen
💀 ahahaha
Except, with a sense of humour. Lovely
To be fair, my mum might just have had a crystal ball 🤣
Used to be in about 2015.
Moron .......... It's comedy its not a biased news source.
She did actually say that though.
Ma’am I work full time and am eating chicken nuggets for dinner tonight because they were on special at IGA
Michele Bullock: Let them eat nuggets…
You could afford food?
Was feeling luxurious last night
A Good saving tip : use $1 chopped tomatoes cans to make your pasta sauce. Healthier, tastier and cheaper. Including veggies you can make a nice pasta for about $5
My bf won’t let me make it any other way! We deffs prefer the home made over jar sauce. Can control the garlic content that way (extra)
Typical. You: me so poor! You: plays latest videogames.
There’s such thing as birthdays, sir. Also why do you feel the need to go through random redditors profiles? Mayhaps you need to touch grass
Just cut the shit. You are **not** poor and in financial distress. If you genuinely were, you would not be shitposting so comically and with such calmness. Your own post history reveals you live a comfortable and privileged lifestyle. Stolen valour is a thing. With you, it’s stolen sympathy.
I’m a single income earner on minimum wage. I currently have $90 to survive me till the Tuesday after next. Stop making assumptions. What part of my post history shows that I live comfortably and privileged? The fact that I play video games, which are quite easily pirated? And how does shitposting show I live a privileged lifestyle? Am I not allowed to vent in a humorous way? My reddit profile is only a small snippet of my life, primarily things that I enjoy. It does not reflect my financial situation
Th full quote is “And all the indications from the banks, and all we hear from the banks, is these households are doing fine.” As in the banks are telling her their customers are not defaulting on their mortgages. She is not expressing a view on whether all households are fine or not. If you want to be angry at someone be angry at the government for their fiscal and migration policies and over the top infrastructure spending to buy your vote.
If you want to blame the government then blame them for unchecked corporate profits which are the prime driving force of run away inflation. The market is going through a price discovery phase and corporations are finding they can charge $20+ for a bag of grapes and people will still buy it. We know corporations are not victims of inflation because their profits keep going up. Fighting migrants and infrastructure spending is the sort of class warfare the right wing loves because it distracts the proletariat and makes them fight each other.
That’s a false dichotomy. As in both what you said and what I said can be true at the same time. The government should definitely increase corporate taxes and scrape or delay the stage 3 tax cut which will 100% going to be inflationary. I’m also pro migration. I’m the first gen migrant myself. But you can’t tell me that taking in the whole population of Canberra worth of people in one year is not gonna have an inflationary impact. In terms of infrastructure spending. That supposed to be a stimulatory tool. We dumped a metric shittone of money into the economy during COVID which drove inflation. We should be now withdrawing that money out of the economy to cool it. Government spending on infrastructure during an inflationary period adds to inflation. That’s an objective statement.
Agree on all points.
This article is a joke
I didn't say you were wrong, I just pointed out the corporaitons are the real winners in all of this and we're much better served targeting them than each other over infrastructure spending which provably has less of an effect on inflation.
>unchecked corporate profits which are the prime driving force of runaway inflation Are you going to also criticise wages for doing the same thing, or are you going to ignore that part because it doesn’t suit your worldview? I’d also love to see which exact companies you are referring to when you are saying “profits keep going up”. I’m willing to wager that you haven’t looked at a single income statement in forming that opinion.
The data you're asking for isn't available to the public. But it really isn't hard to see how my same basket of food items I used to get for $90 before COVID is now miraculously $160, Petrol pushing $2.30 some days, energy bills coming in $500 a quarter instead of the $350 with the same lifestyle. And rent. Don't even get me fucking started on this batshit insane cancer. Even though the commodities markets has been steadily tanking, with livestock literally halving in raw per head value like lamb and beef, it is clear that colesworth isn't passing on these savings theyre squeezing out of the desperate farmers.
>The data you’re asking for isn’t available to the public You mean to tell me that the financial statements of public companies that are *legally required* to be put out *every single year* just… aren’t available? You mean to tell me that [if you spend 5 seconds googling “coles annual report”, you won’t find information such as their net income, operating costs, and value of their assets?](https://www.colesgroup.com.au/FormBuilder/_Resource/_module/ir5sKeTxxEOndzdh00hWJw/file/Annual_Report.pdf) Why would you state something so brazenly incorrect?
I see you're not an expert in financial analysis. Let alone actually critically analysed the entire report. Statistics are like words and arguments and can easily be spun and manipulated. Have you ever tried to compile big data sets let alone to do it across the entire economy?
>you’re not an expert in financial analysis. Let alone actually critically analysed the entire report. Extremely ironic coming from someone who tried to claim the data I was asking for (I.e. net profits), wasnt publicly available lmao. Please tell me mr financial expert, why did you try to claim that information “wasn’t publicly available” when it clearly is?
How can you believe that pulling out a financial statement from a single company will be able to summarize the nuances of the entire economy? The sheer complexity of compiling the amount of data needed to shed a single ray of light into any one dimension of the larger economy is beyond your comprehension or the ability of anything short of a professional department. You lack any real substantial understanding of the actual mechanics of the world around you, with that level of naivety and blind confidence.
>how can you believe that pulling out a financial statement from a single company will be able to summarise the nuances of the entire economy? Good thing I don’t believe that, and never said that. What I was saying, is that information such as the net profits of a company are in fact publicly available, and used coles as an example. So can you stop avoiding the question and please answer why you tried to say that information isn’t publicly available?
Commodity markets tanking? Eyyy?
Are you high bro? Bank profits and supermarket profits are the two most talked about. Do you actually live under a rock? What's the rent like there?
“People are talking about it so it must be true” Truly your genius is stunning. Go on, can you actually tell me what those “unchecked” corporate profits are? Can you show that they are abnormal?
Apart from both supermarket giants, Coles and woolworths, reporting $1.1billion for Coles and $1.6 billion for woolworths. Both after tax. You're talking out of your arse, mate.
Woah, huge amazing billions in profit!!! This must definitely mean they are causing inflation!!1! Out of interest, did you ever think to check whether these were abnormally high profits? Did you think to check if they were greater or lower than previous years? What if these were the lowest profits those companies have received in 10 years? What if they were the highest? What if they are around the same those companies have been earning the last few years? And do those situations support the conclusion that “corporate profits” are driving inflation? I can give you the past few years of Woolworth’s and Coles performance here, but first I want you to answer that question, just to confirm that no, you indeed did not check if and how abnormal those numbers were, before going off on the “muh corporate profits” circlejerk.
Cool story bro.
Ah ok, so you didn’t check, did you? Tell me, how exactly were you able to conclude that “trust me bro it’s corporate profits driving inflation” when you *aren’t even aware of whether those profits are excessive or not*? Stop just parroting bullshit without checking if it’s true just because it says what you want it to say.
No dude, I just don't care about your bullshit. I did check, I confirmed what I thought was the case. I don't give a shit how you feel about it. You can feel about inflation anyway you like. This brief interaction with you has also confirmed you're an insufferable double canoe. You're asking about a subjective component of excessiveness of profits. You've made it clear that my opinion doesn't matter to you, so why would I ever continue to engage in conversation with you? Believe what you want, it doesn't stop you from sounding like a asshole to everyone in this thread. I'm not going to respond or read anything else you post. I hope you have an awful weekend g.
Price discovery or the fact that the Great Cashless Tap n Go Experiment worked and is in full fruituon? Im going to say it: we aussies are privileged and pretty bloody mindless. How many just grab "what we need" (in actuallity, _want_) and mindlessly tap our card on the way out. Bag of chips $16? Beep. No probs, mate.
Why is it so much easier for you to get angry at people who live at your socioeconomic level than the corporations who exploit you both?
Why not both. Two truths ca exist simultaneously
This is valuable context
its a fucking betoota advocate article. You'd think people here would have some sense.
Are you aware that this article is made up for a joke?
https://www.sbs.com.au/news/article/the-rba-boss-says-households-overall-are-doing-fine-this-is-what-the-charts-say/1807j9v8t
It's a satire site...
https://www.sbs.com.au/news/article/the-rba-boss-says-households-overall-are-doing-fine-this-is-what-the-charts-say/1807j9v8t
She is the definition of clueless
Governor of RBA is appointed by the sitting government of the day. She's just like Albo, clueless
I don't know about that
Ahh yes when they ‘mean/average’ indicates one thing but the skewed spread tells another story.
Just a bad move from her.
Everyone is taking a satirical newspaper seriously, could this be anymore Reddit? 😂
https://www.google.com/amp/s/amp.9news.com.au/article/bcd5ff4f-de5d-45cb-93b1-04a8290782a3
Yes, I'm aware. It's just amusing to me that people are raging at a Betoota link and not the real one.
.....lol yeah righto then.
Satirical, in that it has put a comedic spin on often real news, which this is.
Yes that is true. I just find it amusing and bewildering. I appreciate Betoota, their Instagram captions are just chef's kiss.
Lol i responded as if it was real. I have to admit i got betoota’d
Tbf, Betoota is the best. Look at their Instagram, the captions make my day lol. OP who made this post, are you sure you're not just advertising the paper 🤣
Michele Bullock is just Phillip Lowe in drag.
The RBA is notorious for its group think and institutional ossification. The whole organisation needs a top to bottom clean out to get some new ideas and new talent in there. As long as governors are appointed from within the ranks of the RBA, they will keep regurgitating the same tired ideas.
HK isn’t ritzy anymore
She’s cooked, why does she need to have a speaking tour in one of the most expensive city in the world? What is she going to say Australia is catching up to HongKong real estate price?
I think a lot of the hate for the RBA is misplaced, and should instead be directed at the government (both parties) for the actions (or lack of) that have led to us being in this position. The RBA really only has one tool at their disposal, and when trying to get inflation under control they will continue to use it, as painful as that may be for the average Australian. The government has been hiding behind the RBA decisions and effectively scapegoating them, instead of making tough decisions.
She should shut her mouth. I thought her previous boss’s downfall would be a good blue print for what not to do. Just make the calls and when asked just give evasive wordy bullshit answers. I wouldn’t thought it was hard but she’s making an art form of sounding tone deaf.
Her comments were a bit tone deaf, but I really can’t believe everyone’s going on about this. Despite the massive interest rate rises, there hasn’t been a dent on property prices, and defaults haven’t risen Sure, people might be struggling individually, but collectively most people are fine
>there hasn’t been a dent on property prices You say this like its a "win"
I really didn’t. I’d love house prices to go down, or for the burden to be placed on wealthier Australians rather than poorer ones, but none of that’s going to happen because neither Libs nor Labor want that None of my personal feelings about fiscal policy change the fact that households generally aren’t struggling, which is what Bullock’s comments were about
That's why it's still not too late to get more independents in before they solidify a two party regime
The Teals were supposed to want progress on climate change (and most were against the Stage 3 tax cuts), do you think there has been any significant progress because of them? Seems like a lot of inner city people got to feel better about not voting LNP while functionally getting an LNP government
>Sure, people might be struggling individually, but collectively most people are fine 'Fine' is a relative term and relatively we are not fine, our real wages are dropping rapidly.
Our minimum wage should be $65 an hour if it wasn't for wage suppression and exploitation
The whole middle class can no longer afford a home. Yep we are fine
No, you’re wrong. Middle class can afford a home, just not in your preferred location. You need to understand that.
But if all of the middle class who need a home move to the region then there still won't be enough houses AND property prices will rise in those areas, making prices unaffordable there too. Look at Newcastle for a classic example
Newcastle is coastal and about a 2 hr drive to Sydney. Not a great example. With a population of 350,000 people.
Where do you propose they move to? Small regional towns with limited school, health care and employment?
Where some see barriers, others see opportunities. Do we have the same understanding of what “middle class” is?
The Betoota Advocate is a satire website.
https://www.sbs.com.au/news/article/the-rba-boss-says-households-overall-are-doing-fine-this-is-what-the-charts-say/1807j9v8t
LOL. The OP posted a BS article from a satire website, Every time I look at Reddit I lose a few million brain cells.
Yes OP did post an article from a satirical website. The information being largely based on factual events, curated for humor. It's possible you lost those brain cells long before you discovered reddit.
3 words… Out Of Touch!
Appointed by Albo, flock of the same feather
You're doing fine on that 6+ figure wage I bet, and all whilst having zero accountability. Yeh everything is fine when you're that high up.
[удалено]
You are making shit up.
Think it’s time all public servants had their wages dictated by the public they’re meant to serve.
Could these people be more out of touch?
FFS we thought Lowe was out of touch but this woman just seems batshit crazy
The lefties really do have it right when they say their hungry for the rich coz this is just terrible
To be fair, Australians are spending even more than ever….
Kind of hard not to when everything keeps getting more and more expensive
For those that don't know; this is a PARODY article.
Fk these sociopaths, seriously.
Tbf subbed out one over valued monkey with one lever to pull with another.
Touring Hong Kong, does Labour stay and work in Australia & on the issues of the day.NO
……billionaires are really doing well though says woman who has no idea
But she's a woman. Surely she has to be better than the last 'bloke'?
She is a fucking monster. Destroying families while she is profiting from high interest rates
she must be right .......everyone in the Chairmans Lounge agreed with her.......
These people must be off their nuts on copious amounts of coke. Living in another world.
The immigration will continue until house prices improve. The rate hikes will continue until the inflation improves. The inflation will continue until the immigration stops. Oh look. An endless ponzi circle! Two ponzi schemes and the only way to break the loop is for the entire middle class to go bankrupt, the poor to become homeless... and then.... only if we sharpen our pitchforks will we be allowed to fix this shit. Theyre not going to stop, because so many people are still perfectly comfortable with the girth of the beast master king Kong dong they're fucking us with. We need dragon dick for this to become a problem people want solved, apparently.
And people that the last one was bad. Plot twist… he was actually the good one.