Mr Lowe this morning said the Reserve Bank board began its meeting yesterday by reading letters it had received from families who were struggling."It's a difficult message but it's the truth: if inflation stays high it will lead to higher interest rates, people losing jobs and more pain."
The Treasurer acknowledged current forecasts still expected inflation not to have settled by that date, but he said the stage three tax cuts would have to be assessed in the context of the economy in mid-2024, and not now. "Inflation will moderate over the next 12 to 18 months, we would like it to moderate as quickly as possible … it has been stubborn.
We get it but we are still going to push the economy to its death along with most other western “democracies” to usher in the new digital economy.
Politicians should be on the average wage with no expenses then they might actually get it.
I thought they were going to save us from the evil LNP…. Now they have to move on from the election fantasy they wrote. There’s a real world out here.
It’s all by design people
You're looking at the wrong people to blame for this. Blame corporate mega-profit-driven inflation and price gouging, and blame the LNP crony running the reserve bank for letting it happen.
Yeah you know n yet doing nothing about it 👎
Let's be clear. The government want to hurt us by taking money away. They use the RBA as a tool to manage inflation and blame the RBA when it is not popular.
No shit Sherlock !
Voted for Labor? Enjoy the consequences
They get it? How? These people are wealthy, get paid a lot and get tax exemptions. They know nothing about how Australian workers feel!
Coles and woolworths play a significant role in this whilst the acccgovau sits on it's hands ignoring the blatant and illegal price gouging! Profit over lives 😠
Hurting who? That interest in the bank is finally worth something, happy days
Thank the biden regime for cheating the elections starting a war & doubling the cost of living & spending all the money.
The issue is governments, employees and employers continue to spend money. Stop spending and interest rate increases will end and could start to come off. Alas, stop spending is not part of the ALP's DNA.
Tim Geithner vibes.
Sack Chalmers and Lowe .
'we get it' but tough luck. no they don't care.
Amateur hour in Canberra Snake Chalmers is a passenger. No idea what to do so he just commentates as it all happens around him.
🤡show
'We get it'... NO POLITICIAN, ever gets it. None. Your pays are unaffected, you make everyone so divided while you double dip in everything and fail at funding necessities for nonsense things that do not benefit EVERYONE. The whole system needs a clean up of career politicians.
Trickle up economics
You build a Country from the Bottom-up it does not work from the Top-down, what they got on top, they will not even let it triple down, Money only flows Up !!!
We get it but will continue to focus on issues affecting a minimal amount of Australians!
Record Corporate profits because they have jacked prices under the guise of increased costs. Proven to be bullshit by the shareholder returns. Freeze their prices, and stop them gouging the population. Corporate greed is driving this inflation rise, not poor workers 😕
'We get it, but I'm okay so tough luck.' ~ Jim Chalmers
But they're ok, so they aren't bothered at all
Notably comments from a Fake Treasurer who is totally lost now that he has to do the job. Chalmers is finding out the difference from Rhetoric and actually doing something. And we are paying for this empty space.
In my experience anything before the word 'but' is BS
They don’t get any of it Their net zero crap will keep inflation high for decades
You are doing nothing, and people KNOW that!
Not here
We get, we just don’t care. - Chalmers 2023, probably.
well, get it more, or lose an election & give us the coalition again :(
How can u have sympathy for struggling families when u created this economic disaster? Labour hasn’t ever run a successful economy , ultimately destroying what been left to them as we witnessed by other labour administrations, got no idea what they are doing
Just keep spending those tens of billions each year on not needed renewables. That should help inflation
They always knew. It is their doomed economic master plan. Energy and fuel rises with wage, rates and GST rises. Everyone's happy and feel good, they look good. Easy-peasy and why Labor governments stumble.
They know but are not impacted so they dont care
On top of the record migrant intake, most of which aren't workers Giles is fast tracking 100's of 1,000's of temp visas to permanent residency granting access to Medicare, NDIS, Centrelink & family reunions with no additional revenue to cover the liabilities.
I think there’s an argument for giving money to the bottom end of town, given that it looks like 2/3 of inflation in Aus is caused by companies.
As they increase the cost of doing business w almost every decision and focus on non-essential woke issues. Yep they “get it”!! Enjoy the cricket AlboMP
They're so out of touch.
We get it but will do nothing about it because we're the shit-lite party who thinks neoliberalism still works. Austerity for the poor and tax cuts for the rich that's Labor.
You don’t have a clue as you have added to this
All talk and no action
Yeah they get it alright. They sell off property to international investment funds who'll force our kids to rent for life. By 'it' I take it he means 'his cut'🤮🤮🤮
Labor cares about working families. That's why it's allowing 300,000 more third world migrants to come into the country during the worst housing and inflation crisis in 30 years
And doing nothing about it.
Is it a coincidence that all these rate rises have been chosen to rise under a Lab govt? And they held off during a LNP govt?
Doesn’t seem to hurt the banks only ordinary everyday Aussies.
Jim knows interest rates are hurting but does that mean he cares no doesnt 300k plus a year does not impact the rich .
the talking head is getting weird
Rise them to 10% so be can stop fucking around and nuke the housing bubble and come back stronger, America had to do it and we kept inflating thinking there was always to much upward buying pressure for Australia lol. Water finds it's level, if you brought at the wrong time, to…
Just spitballin' here but can't something be done about skyrocketing corporate profits? I didn't hear Phil Lowe mention that at all in his little speech this morning...
They get it. Are they unable to afford a mortgage or food or rent? They don't get sht. They will retire with millions on the taxpayers dime. Meanwhile albo is bringing in an extra 400k of foreigners a year . That's sure to help rents go down as rich foreigners take Aussie houses.
A direct result of excessive greed.
Labor totally out of their depth. Never run a business or worked in the real world. How can we expect nongs like Albanese and Chalmers to manage the country's finances
But you don’t cover the news of why inflation is happening: bc record company profits account for 69% of inflation. Get real
I noticed you selectively edited the footage that Tucker Carlson showed of capital police escorting the insurrectionists. That's why McCarthy didn't trust you with the footage. You are lying propagandists.
Y’all bought million dollar homes knowing full well the impact it would have if rates went up. You didn’t have to do that. You could’ve lived somewhere else cheaper. Why buy a home where you will still be in debt when you die? The stress alone will make you die sooner.
The RBA is in essence creating Americas housing bubble, everyone coming for 1.5-2.5% rates will be hit with 6-9% by the time lock in contracts are finished up middle of this year/next year. meanwhile no prices will drop because inflation is all external pressures
They get it! Maybe, but it doesn't affect them, so they don't care.
It's a crash and a Depression Meanwhile Aussies suffer and have to go to Charities just to survive
Just have the Mint work overtime and give $100,000 to every family with combined income under $100,000! Simples!
kate_eviva There are winners and losers. Deliberate policy to hit income earners differentially. Rate rises don’t impact everyone the same. Bankers helping bankers
I'm not sure Aussies want the government's sympathy. i know i dont. They want their help. That's why we voted them in.
That's just it YOU DONT. No money for cost of living relief. BUT JEChalmers budget increased child care rebate upper income limit to $530,000 making politicians eligible for child care rebates. Add 270 billion high income tax cuts next year, it's raining cash for high incomes.
But they are not doing a damn thing about it. Useless politicians
Nosense, nothing like the 14% in the early 90s when I had my first mortgage. And Paul Keating still managed to win the 93 election.
And what will you do about it? Rents are going up 10, 20, 30, 40 percent. No relief in sight!
They’re only concerned about the property Ponzi.