Friday 29th of March 2024

coyote clangers .....

 

coyote clangers ..... 

Howard denying all responsibility for inflation: Rudd 

Labor leader Kevin Rudd says he is stunned that Prime Minister John Howard can say he believes inflation is unavoidable. 

The Reserve Bank of Australia (RBA) is widely tipped to lift interest rates when it meets on Tuesday. 

Mr Howard says the strong economy, rising world oil prices and the drought are all external factors that may influence the RBA's decision. 

Mr Rudd says Mr Howard knows that Government policy also drives inflation. 

"What I'm stunned by with Mr Howard today is him hauling up the white flag in the fight against inflation by saying it's unavoidable," he said. 

"And what I'm stunned by today is Mr Howard owning no responsibility for his Government's policy when it comes to the five interest rate rises that we've seen." 

Howard Denying All Responsibility For Inflation: Rudd

caught between two lovers...

The Reserve Bank of Australia is caught between a rock and a hard place... If it does not raise the interest rates on Wednesday by whatever percent, the Bank will be seen as politically motivated... if it raises the interest rates it will be annoying a lot of people. According to its criteria, the bank has no choice but to raise the rates. In fact if the people of the Bank looks a bit further like at the month of October, just finished, they would have noticed people spending money as if credit was water, they would have noticed prices rising as if inflation was hitting double digits and election promises that would bring tears to the eyes of the most serious sadistic budgetor...

See what happens...

up up and away up the gurgler down under

As the Aussie dollar fills the pockets of traders till the cows come home, the tourism industry is taking a battering as more "tourists" fly overseas than coming in... What's won on the merry-go-round, etc... Meanwhile less and less is manufactured... more holes in the ground are exported, so cheap they dig a trade deficit the size of China...

kick Howard out.