JohnV wrote:Thanks all , I have spent quite a bit of time as a victim of the system and seen first hand the corruption in Politics , We were once dubbed the Smart Country , The Lucky Country and The Wonder Down under . Not feeling it so much anymore .
Just recently head of the Reserve bank pushed out because he would not bow down to the Government ethos of keeping interest rates low when we are fighting real inflation . I see 100% rise in many food products . I know it hurts a lot of people but if you don't control inflation quickly , then it can spiral out of control and food prices will escalate accordingly and get right out of control due to the fear factor and business gouging . Then no matter how high you rise the rates the inflation continues like what happened in Pakistan , Sri Lanka , Zimbabwe and Venezuela . People have to have affordable food or you will get anarchy . The Labour Government is taking economic risks that could backfire on all of us with high mortgages , high food prices and a recession on top of that . Firing public servants just because they don't agree with the Governments actions is how Russia and China runs things . Keeping interest rates ridiculously low for too long is what is sending some Banks in the World broke and heated the economies too much . Having a basic fair interest rate for all is a stabilizing effect on the economy . When I worked in the bush I met an old cattle drover and we had a long talk about life around the camp fire . He said to me , " It's not how much money you ear son , it's how much money you hang onto " . Truer words never spoken .
Now the young ones are blaming the Boomers for having some savings and making a bit of interest money . When they had nearly zero interest rates on their mortgages and saving heaps the boomers got NOTHING , but that was quite ok .
I have fought for this country , I have bled for this country and I have suffered for this country but frankly if I was a young single man again I would go some place else with more freedoms even if it meant less affluence .
Unfortunately John it is probably going to take a generation to clear all the ripple effect from what they did during Covid.
They killed supply and disrupted the supply chain by saying some were essential and some were not and shutting down whole industries, many businesses never able to reopen again. Then they printed tons of money to try to paper over all the damage they did. As a result we ended up with too many dollars chasing too few goods and that equals inflation.
Add in that government has a policy of suppressing efficiency with things like climate change hysteria which imposes all sorts of extra costs on everyone while a few people get rich off of it.
The only way to fix it is to get back to letting money and efficiency flow without disruption and manipulation by government bureaucrats and to increase supply of goods and services.