Australian Politics Forum - Labor Must Not Leave Inflation Fight To RBA

thegreatdivide

Gold Member

Offline

Australian Politics 

Posts: 15231
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #60 - Feb 8^th, 2026 at 3:53pm

lee wrote on Feb 8^th, 2026 at 12:58pm:

thegreatdivide wrote on Feb 8^th, 2026 at 12:14pm:

Now of course governments everywhere are failing because their budgets are being sgeeezed by Trump

Really?
https://www.worldometers.info/gdp/australia-gdp/

https://www.abs.gov.au/articles/australias-trade-united-states-america

Imports have only grown 3% over exports.

Nope.

The global economy affects national economies, in a globalized economy.

And the Oz electorate is apparently hoping Pauline will fix the Oz economy.

The Neoclassical WTO has created the 1st world rust belt - which Oz largely avoided, because Oz could cope with loss of manufacturing while living off exports to China, which most developed countries couldn't do.

But now Chinese growth has slowed, in a US-initiated trade war, and the Oz budget is faced with increasing deficits.

So the question remains : explain to us how Pauline can get manufacturing going again in Oz, without reducing workers' wages and conditions (the Conservatives' wet dream).
while increasing the supply of private sector housing**, and funding the NDIS, childcare and hospitals as the population ages.

**Your "small government" ideology is responsible for the loss of public housing in Oz during the last several decades, as the private sector chases unproductive 'housing as investment' which - in the absence of stabilizing public housing, has pushed up prices which are now among the highest in the world.

Back to top

IP Logged

thegreatdivide

Gold Member

Offline

Australian Politics 

Posts: 15231
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #61 - Feb 8^th, 2026 at 3:57pm

Captain Nemo wrote on Feb 8^th, 2026 at 1:58pm:

thegreatdivide wrote on Feb 8^th, 2026 at 11:38am:

...

Sure; and the value of Oz ore exports could be quadrupled by value-adding at home.
...a potential $700 billion or more, cf a piddling $5 billion for value-added manufactured textiles.

...

That can't happen with the fantasy of Net Zero being pushed by Chris Bowen et al.

You too are infected with the dreaded 'government debt' delusion.

Note: the Oz treasury can create Oz dollars for free...

(google}

"As an issuer of its own free-floating currency, Australia has the ability to finance its debt", ie without borrowing.

The current convention requiring the govt to borrow its own currency is obsolete in the post gold-standard fiat currency era; government can ensure - via judicious central planning, aggregate supply balances aggregate demand, to avoid inflation.

Back to top

« Last Edit: Feb 8^th, 2026 at 4:12pm by thegreatdivide »

IP Logged

Bobby.

Gold Member

Offline

Australian Politics

Posts: 117926
Melbourne
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #62 - Feb 8^th, 2026 at 4:10pm

thegreatdivide wrote on Feb 8^th, 2026 at 12:52pm:

So...you don't mind government debt provided it increases the nation's wealth.

Congratulations; that's the MMT stance.

You (the govt) need to fund development of the clever tech required for sustainable ecological extraction and conversion of raw materials, in a 'circular economy.'

(google)

A circular economy is an industrial system designed to minimize waste and resource consumption by keeping materials in continuous circulation. Shifting from a linear "take-make-dispose" model, it prioritizes repairing, reusing, recycling, and remanufacturing products to maintain their value.

The private sector can't and won't do it, because the private sector wants increased consumption.....while competing with overseas value-adders.

Our Govt should be investing in rare earths.
They borrow money for nonsense instead of business.
Look at what the Chinese are doing:

https://www.gtreview.com/news/asia/chinas-metals-financing-soars-in-record-year-...

China’s metals financing soars in record year for Belt and Road program

21 January 2026 15:16 GMT

By John Basquill

Chinese overseas investment in metals and mining through its Belt and Road Initiative (BRI) hit record heights last year, amid calls from western governments to reduce reliance on the country’s supply of critical minerals.

Investment and construction deals under the BRI programme totalled nearly US$215bn in 2025, the highest annual figure to date, according to a report published on January 19 by the Green Finance and Development Center, a think tank based at Shanghai’s Fudan University.

China’s engagement in metals and mining totalled US$32.6bn, of which 61% was directed to processing facilities such as smelters, said the report, co-authored by Australia’s Griffith University. The figure surpasses the previous record, set in 2024.

It described metals as an “important growth sector of strategic importance to China”, supporting the three key industries of electric vehicles, batteries and renewable energy.

Back to top

IP Logged

Sir Grappler Truth Teller OAM

Gold Member

Offline

Australian Politics

Posts: 89989
Proud Old White Australian Man
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #63 - Feb 8^th, 2026 at 4:20pm

Don't leave us, Labor ... don't leave us!

The RBA and our politics need a total overhaul. Just a continuation of the old feudal manner in the manor - with the better-ups telling the peasants what's good for them...

Every time I think of these activities it reminds me of (think it was) Pride and Prejudice - in which the brother, upon inheriting, is sitting in his carriage with his wife and steadily cutting back how much he will 'give' to his sisters ... I think perhap ten thousand a year will suffice... perhaps split between the two... my needs are far greater to run this family ... sounds an awful lot like our governments and their bully boy, the RBA, dictating to us how much tax and how much profit to shareholders we will all tithe...

Power always thinks it has a great soul and vast views beyond the comprehension of the weak, and that it is doing God's service when it is violating all His laws.

John Adams.

Back to top

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

IP Logged

thegreatdivide

Gold Member

Offline

Australian Politics 

Posts: 15231
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #64 - Feb 8^th, 2026 at 4:21pm

Bobby. wrote on Feb 8^th, 2026 at 4:10pm:

thegreatdivide wrote on Feb 8^th, 2026 at 12:52pm:

So...you don't mind government debt provided it increases the nation's wealth.

Congratulations; that's the MMT stance.

You (the govt) need to fund development of the clever tech required for sustainable ecological extraction and conversion of raw materials, in a 'circular economy.'

(google)

A circular economy is an industrial system designed to minimize waste and resource consumption by keeping materials in continuous circulation. Shifting from a linear "take-make-dispose" model, it prioritizes repairing, reusing, recycling, and remanufacturing products to maintain their value.

The private sector can't and won't do it, because the private sector wants increased consumption.....while competing with overseas value-adders.

Our Govt should be investing in rare earths.

Yes.

Quote:

They borrow money for nonsense instead of business.

Child care, education, hospitals, NDIS and essential infrastructure are not nonsense ... but the subs to fight China in the Taiwan straits ARE "nonsense"..

Quote:

Look at what the Chinese are doing:

https://www.gtreview.com/news/asia/chinas-metals-financing-soars-in-record-year-...

China’s metals financing soars in record year for Belt and Road program

21 January 2026 15:16 GMT

By John Basquill

Chinese overseas investment in metals and mining through its Belt and Road Initiative (BRI) hit record heights last year, amid calls from western governments to reduce reliance on the country’s supply of critical minerals.

Investment and construction deals under the BRI programme totalled nearly US$215bn in 2025, the highest annual figure to date, according to a report published on January 19 by the Green Finance and Development Center, a think tank based at Shanghai’s Fudan University.

China’s engagement in metals and mining totalled US$32.6bn, of which 61% was directed to processing facilities such as smelters, said the report, co-authored by Australia’s Griffith University. The figure surpasses the previous record, set in 2024.

It described metals as an “important growth sector of strategic importance to China”, supporting the three key industries of electric vehicles, batteries and renewable energy.

Yes, it's called investing in the real, productive economy, not the fake Wall Street casino. economy.

Hence Trump is now trying to do it in the US, funded by tariffs on everyone else to avoid raising taxes......

Back to top

IP Logged

Sir Grappler Truth Teller OAM Gold Member Offline Australian Politics Posts: 89989 Proud Old White Australian Man Gender:	Re: Labor Must Not Leave Inflation Fight To RBA Reply #65 - Feb 8^th, 2026 at 4:24pm My god TGD - sometimes when you leave your fanciful theories behind, you are nearly right, and even right in some things!! You'll need to watch that because if you keep it up people might start to believe in you.
Back to top	“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.” ― John Adams IP Logged

Bobby.

Gold Member

Offline

Australian Politics

Posts: 117926
Melbourne
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #66 - Feb 8^th, 2026 at 4:26pm

TGD,
Quote:

Child care, education, hospitals, NDIS and essential infrastructure are not nonsense ...
but the subs to fight China in the Taiwan straits ARE "nonsense"..

That's true but I bet we could find plenty of waste in all the public service jobs that were created?
We need a DOGE office - get Elon to run it for 3 months.

TGD,
Quote:

Yes, it's called investing in the real, productive economy, not the fake Wall Street casino. economy.

Hence Trump is now trying to do it in the US, funded by tariffs on everyone else to avoid raising taxes......

Trump and the Chinese have business minds.
Albo couldn't run a chook raffle in a pub.

Back to top

IP Logged

thegreatdivide

Gold Member

Offline

Australian Politics 

Posts: 15231
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #67 - Feb 8^th, 2026 at 4:29pm

Sir Grappler Truth Teller OAM wrote on Feb 8^th, 2026 at 4:24pm:

My god TGD - sometimes when you leave your fanciful theories behind, you are nearly right, and even right in some things!!

You'll need to watch that because if you keep it up people might start to believe in you.

Well, I'm hesitating to accept your (faint ....or is it 'feint') praise...

You said "The RBA and our politics need a total overhaul."

We agree.

Imagine you are PM of Oz.

How would you bring about this urgently required "total overhaul"?

You know my solution:

https://publicmoneypublicgood.net/

Note public money , not "taxpayer money".

The floor is yours....

Back to top

« Last Edit: Feb 8^th, 2026 at 4:39pm by thegreatdivide »

IP Logged

lee

Gold Member

Offline

Australian Politics

Posts: 20171
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #68 - Feb 8^th, 2026 at 4:54pm

thegreatdivide wrote on Feb 8^th, 2026 at 3:53pm:

But now Chinese growth has slowed, in a US-initiated trade war, and the Oz budget is faced with increasing deficits.

And that is because of overspending, not reduced government income.

thegreatdivide wrote on Feb 8^th, 2026 at 3:53pm:

explain to us how Pauline can get manufacturing going again in Oz, without reducing workers' wages and conditions (the Conservatives' wet dream).

You keep coming back to that like a dog returning to its vomit. You have no knowledge. You believe MMT would fix it. But you have no proof of that. So until it is proven, it s merely supposition. Roll Eyes

thegreatdivide wrote on Feb 8^th, 2026 at 3:53pm:

**Your "small government" ideology is responsible for the loss of public housing in Oz during the last several decades, as the private sector chases unproductive 'housing as investment' which - in the absence of stabilizing public housing, has pushed up prices which are now among the highest in the world.

Ah - So public housing is now purely a large government domain?

The private sector chases unproductive housing? That would mean that there are large numbers of unsold private houses, being "unproductive", and that is demonstrably not true. Roll Eyes

Back to top

IP Logged

Sir Grappler Truth Teller OAM

Gold Member

Offline

Australian Politics

Posts: 89989
Proud Old White Australian Man
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #69 - Feb 8^th, 2026 at 5:34pm

I can promise you nothing but sweat, tears and maybe a little blood.... and massive investment and long term money actually flowing to workers engaged in the creation of the GAIAs - the Great Australian Infrastructure Advances - and actually being taxed here for a change!!!

Win-win-win there!!

The vision splendid is those sunlit plains extended joined across the nation by rail and road, initially to carry ores to coal or coal to ores - with either end being potentially the manufacturing base. I like the west coast due to the closeness of gas for power ... there is no tyranny of distance defence in these days of fast and long range aircraft and missiles, so what it comes down to is where a deep water port giving access to world markets for our NOW finished products can be built and maintained, along with ample water for cooling the nuke station reactors.... the backup to a solar and wind city, with water tanks on every home etc planned wide boulevards and such all designed to allow for expansion in the future.

To attain this investment money I suggest a one-stop one set of rules for all superannuation platform which, under a truly independent body, can dispense loans to governments and perhaps individual companies to secure infrastruture for the future while being a true future fund for all Australians ... this of course after Australia takes back Howard's Grand Theft Canberra money and the farm of its own resources and develops extraction itself rather than handing it out to Offshore robber barons who make billions out of it without paying tax here while employing very few.

Australia wins!!

Now which will it be - the Pilbara for the manufacturing - steel to finished products including ship building or Townsville near the rocket port up north there?

Then of course there is the final solution for the Nabos (Native Borns) who want to do things their way with the creation of The Homeland, in the middle of which will be Crocodile Colditz for troublemakers and those who will not get their act right - recalcitrants - all guarded by the Homelanders for which the Homeland will receive negotiated payment to help its economy along a bit. All other Nabos who remain in Australia Proper must assimilate and play the game or see the door of Homeland opening wide for them ... that'll soon sort 'em all out.

Back to top

« Last Edit: Feb 8^th, 2026 at 5:42pm by Sir Grappler Truth Teller OAM »

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

IP Logged

thegreatdivide

Gold Member

Offline

Australian Politics 

Posts: 15231
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #70 - Feb 8^th, 2026 at 5:56pm

lee wrote on Feb 8^th, 2026 at 4:54pm:

thegreatdivide wrote on Feb 8^th, 2026 at 3:53pm:

But now Chinese growth has slowed, in a US-initiated trade war, and the Oz budget is faced with increasing deficits.

And that is because of overspending, not reduced government income.

Please show us where the government is "overspending"; note: we are told the OZ debt is "approaching $ 1 trllion", you need to show us some hefty savings, rather than employing the opposition's trick ie, saying "we will show you before the election. not know, it's the government's job"...(because if we reveal it now, you will have time to work out we are frauds....).

Quote:

You keep coming back to that like a dog returning to its vomit. You have no knowledge. You believe MMT would fix it. But you have no proof of that. So until it is proven, it s merely supposition. Roll Eyes

Hey - I asked for your policies - other than reducing government spending which hurts those who depend on it.

Please tell us how YOU would advise Pauline (just in case she DOES bcome PM....)..

Quote:

Ah - So public housing is now purely a large government domain?

By definition: a decent public housing portfolio (say one million houses for starters) would amount to at least a $500 billion public housing portfolio...big government (around the estimated size/cost of the Coal-ition's govt. funded nuclear plan....)

Quote:

The private sector chases unproductive housing? That would mean that there are large numbers of unsold private houses, being "unproductive", and that is demonstrably not true. Roll Eyes

Your error: housing is for living in; it's an essential good for all, as opposed to FOR PROFIT private sector investment in factories etc. which actually grow the economy.

The public sector's job to invest in not for profit essential public goods (public infrastructure, hospitals, schools etc etc. AND public housing, which assist the private sector to make profit (when everyone is decently housed).

Back to top

« Last Edit: Feb 8^th, 2026 at 6:03pm by thegreatdivide »

IP Logged

thegreatdivide

Gold Member

Offline

Australian Politics 

Posts: 15231
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #71 - Feb 8^th, 2026 at 6:24pm

Sir Grappler Truth Teller OAM wrote on Feb 8^th, 2026 at 5:34pm:

I can promise you nothing but sweat, tears and maybe a little blood.... and massive investment and long term money actually flowing to workers engaged in the creation of the GAIAs - the Great Australian Infrastructure Advances - and actually being taxed here for a change!!!

Win-win-win there!!

Doesn't sound like an election winning policy....those in poverty are already doing it tough, and average wage workers trying to afford a house to live in (rent or buy) dont want to be told "nothing but sweat, tears ..and maybe some socila violence ("blood").

Quote:

The vision splendid is those sunlit plains extended joined across the nation by rail and road, initially to carry ores to coal or coal to ores - with either end being potentially the manufacturing base. I like the west coast due to the closeness of gas for power ... there is no tyranny of distance defence in these days of fast and long range aircraft and missiles, so what it comes down to is where a deep water port giving access to world markets for our NOW finished products can be built and maintained, along with ample water for cooling the nuke station reactors.... the backup to a solar and wind city, with water tanks on every home etc planned wide boulevards and such all designed to allow for expansion in the future.

The vision is always splendid, the problem it how to get there.

Dummy lee promises the "blood " bit (cutting essential public services, forcing people to engage in crime to survive).

Quote:

To attain this investment money I suggest a one-stop one set of rules for all superannuation platform which, under a truly independent body, can dispense loans to governments and perhaps individual companies to secure infrastruture for the future while being a true future fund for all Australians ... this of course after Australia takes back Howard's Grand Theft Canberra money and the farm of its own resources and develops extraction itself rather than handing it out to Offshore robber barons who make billions out of it without paying tax here while employing very few.

Australia wins!!

Not a bad proposal; but I think a decent enough super investment pool would require hefty contributions from workers who are already burdened by c-o-l pressures.

Quote:

[Now which will it be - the Pilbara for the manufacturing - steel to finished products including ship building or Townsville near the rocket port up north there?

Then of course there is the final solution for the Nabos (Native Borns) who want to do things their way with the creation of The Homeland, in the middle of which will be Crocodile Colditz for troublemakers and those who will not get their act right - recalcitrants - all guarded by the Homelanders for which the Homeland will receive negotiated payment to help its economy along a bit. All other Nabos who remain in Australia Proper must assimilate and play the game or see the door of Homeland opening wide for them ... that'll soon sort 'em all out.

No argument from me, except assimilation will have to happen eventually... as black kids tune in to the excitement of space exploration...

So the figures re funding government via super contributions needs further examination.

Back to top

IP Logged

lee

Gold Member

Offline

Australian Politics

Posts: 20171
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #72 - Feb 8^th, 2026 at 6:28pm

thegreatdivide wrote on Feb 8^th, 2026 at 5:56pm:

Please show us where the government is "overspending"; note: we are told the OZ debt is "approaching $ 1 trllion", you need to show us some hefty savings

Nope. Overspending is case of not balancing the books. Off-budget items are not counted, therefore it spending more than it is taking in. That is exactly what debt is. It doesn't matter whether it is household debt, company debt or Governmental debt, it is simply spending more money than is earned.

thegreatdivide wrote on Feb 8^th, 2026 at 5:56pm:

I asked for your policies - other than reducing government spending which hurts those who depend on it.

.

And yet there is far more expenditure on projects where it is not dependent. Solar panels, wind turbines, batteries. Those things go to those that can afford it.

thegreatdivide wrote on Feb 8^th, 2026 at 5:56pm:

By definition: a decent public housing portfolio (say one million houses for starters) would amount to at least a $500 billion public housing portfolio...big government (around the estimated size/cost of the Coal-ition's govt. funded nuclear plan....)

And of course you would have to pay tradesmen. Something that is in short supply in Australia, because we now have the University educated unemployables.

thegreatdivide wrote on Feb 8^th, 2026 at 5:56pm:

Your error: housing is for living in; it's an essential good for all

You were the ones saying it was unproductive. So then all we would have is public housing.

thegreatdivide wrote on Feb 8^th, 2026 at 5:56pm:

The public sector's job to invest in not for profit essential public goods (public infrastructure, hospitals, schools etc etc. AND public housing, which assist the private sector to make profit (when everyone is decently housed).

But if private housing is unproductive, as claimed, where are the benefits? Roll Eyes

Back to top

IP Logged

thegreatdivide

Gold Member

Offline

Australian Politics 

Posts: 15231
Gender: male

Re: Labor Must Not Leave Inflation Fight To RBA
Reply #73 - Feb 8^th, 2026 at 6:48pm

lee wrote on Feb 8^th, 2026 at 6:28pm:

thegreatdivide wrote on Feb 8^th, 2026 at 5:56pm:

Please show us where the government is "overspending"; note: we are told the OZ debt is "approaching $ 1 trllion", you need to show us some hefty savings

Nope. Overspending is case of not balancing the books.

Your error: the gov. "balances the books" by either (or both) lifting taxes or reducing spending - either course makes govt. unelectable, hence the current global political/ economic malaise. We know your preferenceL "let them eat cake"....

Quote:

Off-budget items are not counted, therefore it spending more than it is taking in.

Your error: govts, indulge in "off budget" spending to 'cook the books'. ....

Quote:

That is exactly what debt is. It doesn't matter whether it is household debt, company debt or Governmental debt, it is simply spending more money than is earned.

Your error: households and companies are USERS of the currency, national govts. are ISSUERS of the currency. Their relationship with debt is profoudly different.

Quote:

And yet there is far more expenditure on projects where it is not dependent. Solar panels, wind turbines, batteries. Those things go to those that can afford it.

And those who can't afford it?

Quote:

And of course you would have to pay tradesmen. Something that is in short supply in Australia, because we now have the University educated unemployables.

Hence Labor is fundng free TAFE...

Quote:

You were the ones saying it was unproductive. So then all we would have is public housing.

Private housing is a choice for those who can afford it. Rent-seeking for unearned income is a moral crime.

Quote:

But if private housing is unproductive, as claimed, where are the benefits? Roll Eyes

Already addressed above: the benefits are McMansions for those who can afford them.

Back to top

IP Logged

Bobby. Gold Member Offline Australian Politics Posts: 117926 Melbourne Gender:	Re: Labor Must Not Leave Inflation Fight To RBA Reply #74 - Feb 8^th, 2026 at 6:53pm flip page
Back to top	IP Logged