lee wrote on Jul 12^th, 2022 at 2:24pm:


A particularly slow learner. It seems I must add the implied  words which I assumed you would know by now.

So to repeat:

"That's  because you don't understand inflation is a problem of  excess demand ON  available productive or produced resources ; or lack of supply OF desired resources.

Can you forget money for a moment, to let the above statement sink in?

lee wrote on Jul 12^th, 2022 at 9:38pm:


No, I said "for a moment", because you have shown  I must lead you one tiny step at a time, for you to understand money is a convenience, not a resource.

"The process by which banks create money is so simple that the mind is repelled. When something so important is involved, a deeper mystery seems only decent.”....

https://neweconomics.org/2012/12/where-does-money-come-from

I wouldn't trust the Greens to run a chook raffle.

We need the Teal independants to form a reliable right-leaning environmentally reponsible party, like there is in Canada.

lee wrote on Jul 13^th, 2022 at 4:32pm:
 

You are now on the right track.   

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Oops.. veered off badly....

I'll try another tack.

Philip Lowe insisted (and lied) that he had to borrow the $20 billion/month he needed at the start of the pandemic, to ensure locked-down workers could afford to buy food and pay their housing/utility bills. 

Why on earth did he need to borrow money "which must be repaid" (which is the reason why Chalmers is now claiming he can't afford to hand out free RATS tests anymore), when Lowe has the ability to change the digits in the bank accounts of laid off workers, without any risk of inflation, because the locked-down workers purchasing power would not increase?

Note: Lowe made 2 mistakes: he borrowed money which "must be repaid"; and instead of simply paying essential bills of laid-off workers, he threw the borrowed money "which must be repaid" around like confetti, including to millionaires.

And now he shouting "inflation", even though the confetti money he threw around which has resulted in increased purchasing-power/demand in the economy, will run out quickly enough, and the real problem behind current fuel, food and housing price rises is supply blockages, which will also subside soon enough (though the Oz  housing Ponzi has other problems than mere supply).   

His solution: raise interest rates and crash the economy, that'll cure "inflation".   

He should be sacked immediately.

thegreatdivide wrote on Jul 14^th, 2022 at 3:11pm:

.
You mean unlike the LW'ers who don't want the poor countries to have cheap reliable fossil fuel?

lee wrote on Jul 14^th, 2022 at 4:02pm:


LW'ers want cheap reliable renewable energy for everyone , paid for by the rich world as necessary.

(Meantime Philip Lowe's "money printer"  which he refuses to use other than by sheeting  the bill to the public, is sitting there, see  #231....which you have obviously already looked at but are unable to refute or critique at all....

lee wrote on Jul 14^th, 2022 at 4:12pm:


Contradicting yourself? If the IMF (Instant Misery Fund) and WB are falling over themselves to fund renewable energy, why aren't they doing it?

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Regardless, the IMF and WB apparently have some knowledge re AGW climate change, because they "refuse to have anything to do with fossils"  ...according to you.... oops.

And as for IMF and WB funding, #231 is still sitting there; can't get your brain into gear? 

lee wrote on Jul 14^th, 2022 at 7:23pm:


ROTFL.  Haiti, a failed state (pop. half Oz)  with communal rioting like an increasing number of failed states, gets $7 million from the Instant Misery Fund, when it needs at least $10 billion   to transition to renewables, forget another $20 billion to  bring housing and (non-energy) infrastructure  up to standard.

"Additional financing" indeed, via loans which have to be repaid to the Instant Misery Fund.

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Meaningless waffle, typical of the Instant Misery Fund.

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Certainly the Instant Misery Fund  doesn't a clue  other than how to enrich itself, as any nation unfortunate to fall into its grubby hands knows: higher taxes, privatize everything that moves, slash pensions and benefits, to "restore government finances"...

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That's right, because  the profit-gouging fossil industry doesn't need them; so they can pretend to be useful by lending pennies to fund some solar panels in poor nations. 

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Because they are evil interest-seeking loan sharks, unlike you (hopefully) who doesn't know any better (but the defense of ignorance will only last so long).

Stop finding excuses not to address the substantive point, ie the "(govt.) borrowed money which must be repaid" central bank myth.   

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He doesn't, but that doesn't mean you do.....#231 is still waiting for you to at least try to exonerate yourself somewhat...