Australian Politics Forum - Bank Announces It Will Cut 2500 Jobs Next Year

Bobby.

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Re: Bank Announces It Will Cut 2500 Jobs Next Year
Reply #30 - Oct 23^rd, 2026 at 7:37pm

thegreatdivide wrote on Oct 23^rd, 2026 at 4:46pm:

Bobby. wrote on Oct 23^rd, 2026 at 4:19pm:

TGD never watched the video but criticised it anyway.

What is the point of arguing with such a dickwad?

I already pointed out the title tells the video is merely delusional mainstream nonsense about govt. debt - the title says it all.

Fact: a c-i govt, by definition, is constrained by the ability to purchase resources, and goods and services, not money - which a c-i can create out of thin air, unlike you and me....

The real issue for c-i govts. is not money but inflation control, via balancing demand for goods and servces with supply.

Meanwhile, Bobby wants govt. to reduce spending, ignoring the evidence of what happens when govt spending fails to deliver essential services for low income groups.

...while ignoring corrections (by AI) of his ideological nonsense ... eg "RBA funny-money printing causes inflation"- refuted by AI.

Google AI gives the view of the RBA itself -
that's like the fox in charge of the hen house - you fool.
In any case they still admitted that it caused some inflation.

The RBA's View on Causation

• Supply-Side Drivers: Former RBA Governor Philip Lowe noted during Senate testimony that roughly 50% to 75% of Australia's inflationary spike was driven by global factors—such as post-pandemic supply-chain disruptions and international energy shocks out of Europe.

• Domestic Contribution: The RBA conceded that low interest rates and pandemic-era fiscal/monetary expansion contributed to roughly 25% to 50% of the pressure on domestic demand, though it rejects the idea that QE was a simple or primary engine of inflation.

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Grappler Racist Filth Gold Member Offline Australian Politics Posts: 90948 Proud Old White Australian Man Gender:	Re: Bank Announces It Will Cut 2500 Jobs Next Year Reply #31 - Oct 23^rd, 2026 at 8:21pm Well - when your entire economy relies on shuffling money around and patching up the casualties - there's no real need to be having people depositing money in banks - they don't need people when they just play the markets all the time.
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thegreatdivide

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Re: Bank Announces It Will Cut 2500 Jobs Next Year
Reply #32 - Oct 26^th, 2026 at 12:08pm

Bobby. wrote on Oct 23^rd, 2026 at 7:37pm:

thegreatdivide wrote on Oct 23^rd, 2026 at 4:46pm:

Bobby. wrote on Oct 23^rd, 2026 at 4:19pm:

TGD never watched the video but criticised it anyway.

What is the point of arguing with such a dickwad?

I already pointed out the title tells the video is merely delusional mainstream nonsense about govt. debt - the title says it all.

Fact: a c-i govt, by definition, is constrained by the ability to purchase resources, and goods and services, not money - which a c-i can create out of thin air, unlike you and me....

The real issue for c-i govts. is not money but inflation control, via balancing demand for goods and servces with supply.

Meanwhile, Bobby wants govt. to reduce spending, ignoring the evidence of what happens when govt spending fails to deliver essential services for low income groups.

...while ignoring corrections (by AI) of his ideological nonsense ... eg "RBA funny-money printing causes inflation"- refuted by AI.

Google AI gives the view of the RBA itself -

Who said this is the view of the RBA?

namely

Inflation and interest rate rises are not caused by the Reserve Bank of Australia (RBA) printing "funny money."
Recent inflation is driven by a mix of global supply chain shocks, rising global energy costs, and strong domestic demand.

How on earth did you ascertain this was "the view of the RBA", and not Google AI's conclusion?

Quote:

TGD (quoting AI) While the central bank did expand the money supply via emergency bond-buying during the pandemic, this liquidity remained inside institutional banking channels rather than directly financing everyday consumer spending.

...that's like the fox in charge of the hen house - you fool.

In any case they still admitted that it caused some inflation.

They did NOT admit "the RBA printing funny money caused inflation" - which is your ideologial rewording of Friedman's monetarist dogma and Thatcher's "other peoples' money" b, implying only taxpayer money is 'real' money.

Quote:

The RBA's View on Causation

• Supply-Side Drivers: Former RBA Governor Philip Lowe noted during Senate testimony that roughly 50% to 75% of Australia's inflationary spike was driven by global factors—such as post-pandemic supply-chain disruptions and international energy shocks out of Europe.

• Domestic Contribution: The RBA conceded that low interest rates and pandemic-era fiscal/monetary expansion contributed to roughly 25% to 50% of the pressure on domestic demand, though it rejects the idea that QE was a simple or primary engine of inflation.

Is that the RBA's view or an AI agent's summation?

in any case the RBA are neoclassical 'austerity' economists to a man (and woman)...though note the underlined, which is a rejection of your absurd assertion "RBA funny money causes inflation".

And the pandemic (with QE) was a factor in inflation via emergency funds creation....no kidding, given the related supply chain shocks.

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Dnarever Gold Member Offline Australian Politics Posts: 62414 Here Gender:	Re: Bank Announces It Will Cut 2500 Jobs Next Year Reply #33 - Oct 26^th, 2026 at 5:53pm NAB have always been the worst bank - It's a miricle that they still exist.
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Bobby. Gold Member Offline Australian Politics Posts: 123017 Melbourne Gender:	Re: Bank Announces It Will Cut 2500 Jobs Next Year Reply #34 - Oct 26^th, 2026 at 6:08pm TGD - I didn't include the links that came straight from the RBA. You'll lose this one and have to apologise if I go and find them. ( but I know you never apologise so I can't be bothered )
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