China’s real issue, he argued, was not divergence between a rising line and a falling one but a whole economy that had been running cold for three years. The
#RichardDenniss from the #AustralianInstitute talks about the RBA and its role in our economy in plain language that everyone will understand. It cannot be said often enough that the RBA’s obsession with controling inflation is a two-edged sword which, if you listen to Denniss, hurts the most vulnerable in our society and about a third of Australians who rent (because landlords put up their rents when mortgage rates go up) and another third of Australians because their own morgage rates also go up. On top of that, fighting inflation also causes higher unemployment. Denniss does a good job explaining all of that here, have a listen:
Another conversation could be had about whether the RBA should be independent of govt (Finance and Treasu
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#RichardDenniss from the #AustralianInstitute talks about the RBA and its role in our economy in plain language that everyone will understand. It cannot be said often enough that the RBA’s obsession with controling inflation is a two-edged sword which, if you listen to Denniss, hurts the most vulnerable in our society and about a third of Australians who rent (because landlords put up their rents when mortgage rates go up) and another third of Australians because their own morgage rates also go up. On top of that, fighting inflation also causes higher unemployment. Denniss does a good job explaining all of that here, have a listen:
Another conversation could be had about whether the RBA should be independent of govt (Finance and Treasury) given that the govt is the only authority for issueing and removing currency.
@n_dimension 100% and it’s not buried that deep either, it’s RBA policy to keep unemployment close to 5%. I forget where I saw this, but it is a regularly divulged in papers, Analysis and Comments from The Australian Institute (by Greg Jericho and Richard Dennis especially)
I REMIND YOU that three months ago he fired the head of the #BLS (Bureau of Labor Statistics) b/c he refused to believe the bad #jobs numbers were real.
So, if THESE are the numbers the new head is reporting, one can't help but wonder if the "real" numbers are even worse. 🤔
The U.S. economy lost 23,000 jobs in July, taking an unexpected downturn as employers signaled caution in the face of uncertainty of tariffs and the war in
"A surprisingly🚨BAD JOB REPORT. The US #economy LOST -23,000 jobs in July (way below expectations of +80k). May and June were🚨revised DOWN by a combined -103,000.
Unemployment rate: 4.1% ->This went down for the WRONG reasons.🚨Over 260,000 left the labor force
#US #JobMarket Shows Unexpected Loss Businesses shed 23,000 #jobs in July in the face of renewed #tariffs & higher #costs driven by Trump’s #war in the #MiddleEast & numbers from previous months were revised down sharply.
