It is said that ‘Dog bites Man’ is not an effective newspaper headline but ‘Man bites Dog’ is. Well, I was reminded today of that, possibly apocryphal, tale from the inky dungeons of old style newspapers sub editors’ offices. ‘Australian Actuary finds himself agreeing with statements from the Greens and then the Labor party.’ Really?
The story begins with yesterday’s announcement by the Governor of the Reserve Bank that monetary policy was to be tightened again and interest rates pushed up further.
So out pops a spokesman for the Greens demanding that the Government immediately sack the RBA Governor and then reverse the decision to increase interest rates.
The Labor PM, Anthony Albanese, responded with the memorable line that ‘the Greens sometimes do not know how the economy works.’
Where do I stand on this and why am I agreeing with the pollies? Firstly, I agree that the Governor of the RBA should have been sacked. I have been saying that for years because the Bank sowed the seeds of the current inflationary mess by so called quantitative easing, which is a term used to disguise the true policy – deliberate inflation. The Governor has been a catastrophic disaster. Of course he should be put out to pasture, preferably in a field home to a disgruntled bull with a peptic ulcer. The Greens have arrived late at that realisation and for totally the wrong reasons. They as a group are like fairies at the bottom of the garden, chattering away among themselves in an ignorant fantasy land.
As to Albo’s statement – I like it. He could have made it more accurate by saying the Greens never understand the economy rather than sometimes don’t understand it, but let’s not quibble with what is a fairly adroit dismissal of the fairies’ chief spokesman on economic affairs.