TOPIC:

Inflation is still rising , people are getting smashed at the check out , and now they are tipping two more interest rate rises this year instead of cuts as Albo predicted, Chalmers pumping cash and spending is making things worse, two more interest rate rises heading into an election year and we could seriously be looking at a one term wonder...

Not to worry is dud mate pick as GG got a 240,000 instant pay rise.

I don't get it either Baz. During Covid we had supply side inflation due to supply chain disruptions and manufacturing businesses impacted by the virus. Now we have demand inflation so what does snake and Elbows do? Pump more disposable income into the economy with hand outs and legislated wage rises.

You can put Cooked and Spendalotti in that little cohort as well who give $400 electricity credits in one hand, then raise the tariff in the other.

No wonder we're in a technical recession.

These pricks at the Reserve Bank need to tell us, and I’m sure they have the data, who the fuck is spending their discretionary income? It’s obviously the ones who can afford to and I don’t have a problem with that and nor should the RBA.

Does this silly bitch just turn a blind eye to the majority who are struggling and not just struggling but losing their homes due to foreclosure and those who can’t afford their rent or starving and going without heating and air conditioning to pay their rent? Never seen more people living on the streets than ever before in this country it’s a national shame yet this bitch says the economy is going too well so we might need to punish you further. FMD.

Geezus I might have to hand back my new Samsung phone I need for work so I can do my bit to help bring down inflation.

BC wrote:

I don't get it either Baz. During Covid we had supply side inflation due to supply chain disruptions and manufacturing businesses impacted by the virus. Now we have demand inflation so what does snake and Elbows do? Pump more disposable income into the economy with hand outs and legislated wage rises.

You can put Cooked and Spendalotti in that little cohort as well who give $400 electricity credits in one hand, then raise the tariff in the other.

No wonder we're in a technical recession.

Spendalotti and Metromess has had a cost blow out for the ages, no stopping the billions on it though.

Then there are a massive wage claims ahead, Public Sector unions EBAs are all up for renewal soon , looking at up to 15% for Police and others - yes the wage price spiral is well and truly on.

And yep economic growth has pretty much ground to a halt, another two interest rate hikes and we could be in big strife.

 

We're already in big strife, and sadly not getting better any time soon. Why a highly paid person needs a 240 thousand $ salary increase is puzzling. Not forgetting already highly paid senior beauracrats have had a 20% salary increase the past 24 months. I hear on the grapevine there is another credit on electricity bills  but not sure what help that will be? This country is in a bad space.

Bazza wrote:

BC wrote:

I don't get it either Baz. During Covid we had supply side inflation due to supply chain disruptions and manufacturing businesses impacted by the virus. Now we have demand inflation so what does snake and Elbows do? Pump more disposable income into the economy with hand outs and legislated wage rises.

You can put Cooked and Spendalotti in that little cohort as well who give $400 electricity credits in one hand, then raise the tariff in the other.

No wonder we're in a technical recession.

Spendalotti and Metromess has had a cost blow out for the ages, no stopping the billions on it though.

Then there are a massive wage claims ahead, Public Sector unions EBAs are all up for renewal soon , looking at up to 15% for Police and others - yes the wage price spiral is well and truly on.

And yep economic growth has pretty much ground to a halt, another two interest rate hikes and we could be in big strife.




 

I live in North Coogee Baz and was just down at our local shopping centre where the state government set up a stall to provide information on the Westport project.  Financial investment decision is due at the end of this month apparently which means another huge taxpayer funded project is about to tee off.  

No wonder we're forecast to be $41b in debt by 2028 which is about $5b more than when this mob came to power in 2017 on a platform of the Barnett government being financially irresponsible.

Project are blowing out cost wise but I guess we are well off compared to Vic, They are up to $128 Billion, are smashing land owners with new taxes to try to pay it off, a few more interest rate rises and the place will be like Argentina.

Burney got the flick.

Been an absolute dud.

Labor make good State Governments.
Since the Hawk+Keating era.Labor have struggled in Federal Government.
If the Sky News analyst is correct.3more interest rate rises before xmas.Total meltdown of the Australian Economy.
Talk of the Treasurer's having a crack at Albos job,getting stronger now.

Does that mean we'll be seeing prime minister chalmers soon? Bloody hell - more nonsense because he's insulated from the real world too.