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Labor Must Not Leave Inflation Fight To RBA (Read 1659 times)
lee
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Re: Labor Must Not Leave Inflation Fight To RBA
Reply #75 - Feb 8th, 2026 at 9:24pm
 
thegreatdivide wrote on Feb 8th, 2026 at 6:48pm:
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.


So government shouldn't even try? Roll Eyes

thegreatdivide wrote on Feb 8th, 2026 at 6:48pm:
Your error:  govts, indulge in "off budget" spending to 'cook the books'. ....


Not my error, simple fact. Roll Eyes

thegreatdivide wrote on Feb 8th, 2026 at 6:48pm:
Your error: households and companies are USERS of the currency, national govts. are ISSUERS of the currency.



Ah, So governments cannot never be in debt? Grin Grin Grin Grin Grin

thegreatdivide wrote on Feb 8th, 2026 at 6:48pm:
And  those who can't afford it? 


Those who can't afford it won't get it. Subsidies just mask unaffordability. They still have to pay the cost minus the subsidy. Roll Eyes

thegreatdivide wrote on Feb 8th, 2026 at 6:48pm:
Hence Labor is fundng free TAFE...


But the tradesmen won't work for free. A scarce resource is a sure fire way to increase costs. Roll Eyes

thegreatdivide wrote on Feb 8th, 2026 at 6:48pm:
Private housing is a choice for those who can afford it.


So then it is not unproductive. Roll Eyes

thegreatdivide wrote on Feb 8th, 2026 at 6:48pm:
Already addressed above: the benefits are McMansions for those who can afford them.


Three and four bedroom homes are not McMansions. Roll Eyes

Your thinking is so skewed.
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thegreatdivide
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Re: Labor Must Not Leave Inflation Fight To RBA
Reply #76 - Feb 9th, 2026 at 3:17pm
 
lee wrote on Feb 8th, 2026 at 9:24pm:
thegreatdivide wrote on Feb 8th, 2026 at 6:48pm:
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.


So government shouldn't even try?


Govts,  ARE trying - by trying to reducing taxes (to get elected) and ignoring government debt (which greedy conservatives always  scream about) -  and faling all around the world. Do try to keep up.

Quote:
Not my error, simple fact. Roll Eyes


Yes, so why did you raise "off budget" funding (which is a fraud)) the question is how to fund the budget.

Quote:
Ah, So governments cannot never be in debt?
 

The point is a currency-issuing government's debt is profoundly different to YOUR debt., for the reasons given. Your incapacited brain apparently  can't even consider the difference between a currency-issuer and a currency-user, in relation to debt.

Note:  a currency-issuing government can always  issue debt denominated in its own currency, (provided the economy remains productive).   

Quote:
Those who can't afford it won't get it. Subsidies just mask unaffordability.


No it doesn't: your brain - incapacited by Neoclassical "scarcity economics" -  can't begin to understand the capacity ofa currency issuer to subsidize consumption (when the rresources are available). 

Quote:
But the tradesmen won't work for free. A scarce resource is a sure fire way to increase costs. Roll Eyes


Education isn't "scarce" (there's that word again) , and the TAFE trained builders will be paid by the government.

Every point you make is based on the "taxpayer money" myth.


Quote:
So then it is not unproductive. Roll Eyes


Your error: (blind ideology or low IQ). Private housing is attractive/desirable for those who can afford it , they get to choose features and localities they like, not necessarily available with public housing.   

Quote:
Three and four bedroom homes are not McMansions. Roll Eyes


Low IQ, apparently I need to define McMansions for you.

Meanwhile, everyone needs a house. Explain how the private sector, alone, can achieve this necessary outcome, when average wages can no longer buy an afforabl;ee house, and lower income groups can't even rent.

You already rejected free training and employment of home builders employed by the government.

Quote:
Your thinking is so skewed.


The debate certainly highlights the paucity of your Neoclassical "scarcity economics" ; there is no scarcity of resources in Oz  (including TAFE colleges)  which prevents the Oz government from delivering secure housing for all, ASAP.   
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lee
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Re: Labor Must Not Leave Inflation Fight To RBA
Reply #77 - Feb 9th, 2026 at 3:47pm
 
thegreatdivide wrote on Feb 9th, 2026 at 3:17pm:
Govts,  ARE trying - by trying to reducing taxes (to get elected) and ignoring government debt (which greedy conservatives always  scream about) -  and faling all around the world.


So not really trying. Wink

thegreatdivide wrote on Feb 9th, 2026 at 3:17pm:
Yes, so why did you raise "off budget" funding (which is a fraud))


so who is the fraud perpetrated against?

thegreatdivide wrote on Feb 9th, 2026 at 3:17pm:
The point is a currency-issuing government's debt is profoundly different to YOUR debt., for the reasons given.


Debt needs to be repaid. How is that different?

thegreatdivide wrote on Feb 9th, 2026 at 3:17pm:
Note:  a currency-issuing government can always  issue debt denominated in its own currency, (provided the economy remains productive).   


Ah, only as long as the economy remains productive. And government debt is above all that? Right. Grin Grin Grin Grin

thegreatdivide wrote on Feb 9th, 2026 at 3:17pm:
No it doesn't: your brain - incapacited by Neoclassical "scarcity economics" -  can't begin to understand the capacity ofa currency issuer to subsidize consumption (when the rresources are available). 


So only when the resources are available? nothing about resources being available and not able to be mined. Not able to be refined because of a faltering power grid. Tell us when the competitive price of hydrogen reaches parity or batteries etc. Wink

thegreatdivide wrote on Feb 9th, 2026 at 3:17pm:
Education isn't "scarce" (there's that word again) , and the TAFE trained builders will be paid by the government.


Ah more people on the government tit, raise taxes again. Grin Grin Grin Grin

thegreatdivide wrote on Feb 9th, 2026 at 3:17pm:
Every point you make is based on the "taxpayer money" myth.


So what's mythical about taxpayer money? Taxpayers pay it, it goes to general revenue and the government spends it. Technically it has now passed from the taxpayer, but it is still the source. Roll Eyes

Of course you could claim that as the government created the money it was always theirs and they merely playing pass the parcel. Wink
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thegreatdivide
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Re: Labor Must Not Leave Inflation Fight To RBA
Reply #78 - Feb 9th, 2026 at 5:27pm
 
lee wrote on Feb 9th, 2026 at 3:47pm:
thegreatdivide wrote on Feb 9th, 2026 at 3:17pm:
Govts,  ARE trying - by trying to reducing taxes (to get elected) and ignoring government debt (which greedy conservatives always  scream about) -  and faling all around the world.


So not really trying. Wink


Dummy, they are trying but failing, due to your blind, obsolete Neoclassical  'scarcity economics' ideology.

eg, Starmer's govt., like many,  is on the nose after a year, because Rachel Reeves can't balance the books without raising taxes or reducing spending.  See below.

Quote:
So who is the fraud perpetrated against


The public - because pollies want to conceal debt numbers - owing to YOUR obsolete "scarcity economics" trumpeted by ignorant mainmstream media and economists who are screaming  "balance the budget" - by reducing spending, of course. 


Quote:
Debt needs to be repaid. How is that different?


Your errors:

1. a currency-issuer doesn't NEED to borrow, being an obsolete convention of obsolete Neoclassical "scarcity economics'.

2. Even so, Japan and the US prove massive borrowing and debt can stand without crashing the economy, bond vigilantes can't touch productive economies.    

Quote:
Ah, only as long as the economy remains productive. And government debt is above all that? Right.


Correct, at last  .....(but why do I suspect you aren't using your brain to arrive at that correct statement....)

Quote:
So only when the resources are available? nothing about resources being available and not able to be mined. Not able to be refined because of a faltering power grid. Tell us when the competitive price of hydrogen reaches parity or batteries etc. Wink


Your errors: "available" means available for the government to purchase (including by nationalization), if the private sector can't mobilize the nation's resources to achieve  government goals eg net zero. Even Dutton wanted a government-owned nuclear industry in Oz.   

Quote:
Ah more people on the government tit, raise taxes again.


More of your  obsolete "scarcity" economics....

Quote:
So what's mythical about taxpayer money?


The myth is c-i government needs taxpayer money. Fact is a currency-issuing government ...oh, never mind...

Quote:
Taxpayers pay it, it goes to general revenue and the government spends it. Technically it has now passed from the taxpayer, but it is still the source. Roll Eyes


That's the mainstream's "scarcity economics"  mythology. Govt. only needs to levy taxes to incentivize consumption (eg raise fuel taxes to promote adoption of EVS) or discourage consumption (eg to reduce tobacco consumption)

Quote:
Of course you could claim that as the government created the money it was always theirs and they merely playing pass the parcel. Wink


You could claim that,  if you don't understand HOW money is created, to whom is granted  the privilege of creating it, and why it is granted to that privileged group.   
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lee
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Re: Labor Must Not Leave Inflation Fight To RBA
Reply #79 - Feb 9th, 2026 at 6:00pm
 
thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
they are trying but failing,



So not really trying, as I said. Scared of backlash.

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
The public - because pollies want to conceal debt numbers -


Yep.

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
1. a currency-issuer doesn't NEED to borrow, being an obsolete convention of obsolete Neoclassical "scarcity economics'.


Ah just keep on debting. It will all come out in the wash. Grin Grin Grin Grin Grin

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
2. Even so, Japan and the US prove massive borrowing and debt can stand without crashing the economy, bond vigilantes can't touch productive economies.   


Ah so USA is productive? So many saying it isn't these days. Wink

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
Correct, at last  .



Fallacy. It just hasn't failed...yet. Roll Eyes

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
"available" means available for the government to purchase (including by nationalization),


Ah the government owns all and you will be happy. Grin Grin Grin Grin Grin

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
if the private sector can't mobilize the nation's resources to achieve  government goals eg net zero


So tell us when the first manufacturing country gets to "net zero". Roll Eyes

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
More of your  obsolete "scarcity" economics....


So you say. You haven't provided the base from which it springs. Roll Eyes

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
The myth is c-i government needs taxpayer money.


Then we don't need to pay taxes. I will tell the ATO I have received advice that it is not necessary. Grin Grin Grin

thegreatdivide wrote on Feb 9th, 2026 at 5:27pm:
Govt. only needs to levy taxes to incentivize consumption (eg raise fuel taxes to promote adoption of EVS) or discourage consumption (eg to reduce tobacco consumption)


Well vaping seems to be rising again, EV's are not really going anywhere. So this "incentivisation" seems to be a flop. Wink

EV's, 13% of new car sales. BYD are going broke, as are others. so much for the Chinese brands. Also Honda, Jeep, Porsche either scaling back or closing. Without mandates it is a bridge too far.
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