Is the road to recession paved with $7 lettuce?
7am
00:00
Did the Reserve Bank Fail?
The chair of the reserve bank, philip low, says that interest rate hights are necessary to prevent seven % inflation. He says it was required because there's too much spending pressure compared to the economy's capacity to produce goods and services. The only real solution is to raise the cash rate, which might actually make things more difficult for people. I cannot overstate the impact for planning and insufficient fiscal stimulus has had on inflation. What we should have been doing this whole time, for decades, is taxing the wealthy,. taxing multi nationals, scrapping things like negative gearing.
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