Policy failure is behind Australia's shock inflation

[@WillyWanka]

East coast of Australia is the ONLY PLACE IN THE WORLD that exports gas and does not have a reservation policy. Drop the mic and walk off

[@rohanhall-dq9ij]

Policy failure is behind alot of Australia woes, the biggest failure being related to property and property investments.. Houses are to live in, and not a means to get rich quick, and speculate on.. We are reaping exactly what we sown, unaffordable houses.. Well done to all you politician on creating the housing crisis, and feathering you own nests at the expense of the now homeless..

[@ianthompson44]

Er, people voted for this. Again and again and again. What's behind Australia's woes is Australians. It's not popular to say it out loud, but there it is.

[@igorcicimov6234]

@@ianthompson44 who else to wote for when both sides of the politics represented by Labor and LPN have done nothing to change this??? Please enlighten us.

[@ianthompson44]

@@igorcicimov6234 Don't vote for anyone. Turn up, get your name signed off and drop the empty ballot in the box.

[@igorcicimov6234]

That's not going to help one of those two will still win. Maybe vote for something diff like one nation or someone else. We need people that really have the people's interest in hearth not just in words. Look at the current idiot we pay $600K for, total disaster.

[@ianthompson44]

@@igorcicimov6234 You can't vote for anyone who will change things now. It's too late for that. The whole system is endemically corrupt. It's going to take a crisis to change anything.

[@slug.racing]

Standard Labor government. Dumb and dumber

[@Elemenopi205]

Liberal = Dumb. Labor = Dumber

[@dagwould]

You can't just blame Labor (as big a target as it is), but Treasury with its Keynesian madness that equates government spending with true investment in productive enterprise. It ain't and it never has.

[@slug.racing]

@@dagwould Labor is in charge so yes I'm blaming them.

[@MrBucksutube]

9 years of LNP had nothing to do with this ?? Their ridiculous response to Covid ? This is also a world wide issue .... get a grip on reality

[@slug.racing]

@@MrBucksutube not interested in yesterday Labor are in charge they are at fault..

[@Elemenopi205]

Things are not going to get better for the second quarter. Food, rent, petrol are going to go up. Brace yourselves people.

[@williamcrossan9333]

Don't be surprised if the ABS massages the figures, so interest rates stay too low, which makes the already wealthy even richer.

[@veijotirronen2010]

BS , Australian inflation is running higher than 20%.

[@pistolpete8539]

Leith is full of BS. Inflation is north of 10% thanks to the government printing press and fractional reserve banking.

[@seppDietrich-ys9jq]

100%

[@igorcicimov6234]

The fact about the domestic gas price is just disgraceful

[@honestpat7789]

Federal election can’t come soon enough. Question is, what will be the outcome if Mr Potato Head wins 🤷‍♂️ In Queensland, LNP just needs to keep its duck in a row, but their candidate is far more left than Ana Bjielke Palachook ever was 😏

[@dagwould]

I'm glad to see that you have a close to Polish pronunciation of her name, instead of the fake Francophile pronunciation.

[@pistolpete8539]

@@dagwould Polishchook. Polish Chook is both Polish and White Russian (Belarus)

[@downtoearth1950]

All housholds are under pressure, any financing and purchasing, most businesses rent property or lease all affectedly under pressure

[@simonc6328]

And there you have it. RBA can either achieve half of its goal to bring inflation down or the other half to maintain employment, but not BOTH because of current policy settings. Tell me there is a Govt policy problem without telling me there is a Govt policy problem.

[@chopperking007]

When fuel and power goes up so does everything else but no ones told labor

[@anomadhunter]

The hopeless journo just skated over the huge issue of a lack of an East coast gas reservation policy. Nobody wants to shine the light on the rank stupidity of the eastern state governments. If WA can do it, why can’t the other states ??

[@dean19641000]

Aba didn't rise rates quick enough and didn't rise interest rates high enough know its going to take inflation longer 😮 large imagination didn't help 😑

[@jonahtwhale1779]

Why not before? Interest rates have been the main tool for the RBA for decades. Only now is it a problem for the 1/3rd of the population with a mortgage or loan? Why has it not been an equal problem for all those decades? Interest rates are lower now than they were throughout 1990s x and most of the 2000s. Or is it now only a problem because people have taken on loans that are unaffordable when rates are not at emergency low levels?

[@hrausss]

Every EBA has got the highest pay rise in over a decade . The agreements are for the next 3 years so inflation has to stay high due to this. The inflation rates are always lower than reality so interest rate rise I think will happen Policy change from the federal government is the only thing that can change the future of inflation not the RBA.

[@prancer4743]

Yes all true but we are well over 1.5% below the rest of the world as far as interest rates go and we where told 6 months ago to catch up put we decided to stop and not listen and now here we are 🤔🤔🤔🤔😳👀🫣zero choices 😉

[@MS-ll9qb]

I feel a recession coming on

it's called a DEPRESSION !! This time......long term!!

[@lloydsingline340]

It has been here for 18 months !

[@jamesm2099]

It's all engineered and being done on purpose!

[@clazz555]

Rates are far too low right now. You have to be living under a rock (quite literally) to believe inflation is 4%. They can’t raise rates because the property market would tank and that is what really drives RBA decisions, let’s be honest! Real interest rates are effectively negative for holding cash. Anyone with money saved has to gamble in the stock market just to break even and retain their purchasing power.

[@pistolpete8539]

Best honest comment written. Spot on. The RBA and government created this residential housing and inflation mess. The RBA's primary role is to look after the Bankster Cartel's best interest (and politicians) at the expense of the sheeple slaves.

[@ponzitizen]

It's funny how the $ame/$imilar important policy failures are also seen in the USA, UK, Canada, NZ...

[@pistolpete8539]

The English speaking western nations.

[@ponzitizen]

​@@pistolpete8539Not necessarily... "investors" are also in the pockets of public officials in non-English speaking nations... Just sad to see Australia following suit and democracy going to the highest bidder...

[@dagwould]

Inflation is driven by growth in money supply that outstrips economic supply. The simple thing is for the government to maintain a balanced budget! It is helped by its non-productive expenditure subsidizing energy generation that cannot survive without subsidies; that is, uneconomical.

[@ianthompson44]

Nation of savers: Interest rates going up. Yay! Nation of deadbeats: Interest rates going up. Boo!

[@pistolpete8539]

Ha! If your in debt - your f**ked!

[@mellowman1020]

You’re not very bright

[@ianthompson44]

@@mellowman1020 You're extremely erudite.

[@wayneharrison]

Pfff, 13 X = 4 %? As Crocodile Dundee would say... 10% now, that's a rate rise.🤠👍👍

[@honestpat7789]

Back in the 80s 😂

[@AA-gu1vv]

Interest rates should have never gone lower than 5% and should be moving between 5 and 10 %.

Exactly what I said when it started to follow the zero interest rate being implemented by the rest.......we were for a considerable time travelling at 3.3 - 3.5% higher prior which is an Intrinsic sustainable practical number AND it would't have driven our inflation, house bubble and more so!! ridiculous lack of what we see now with uaffordable rent's. Essentially the poor young families have been duped, especially those that bought their dream house over the past 4 years up until early last year are suffering the more than 1005 increases in their now mortgage repayments of which is unsustainable for their wellbeing, both financially and emotionally. CPI/Inflation is probably realistically running at 10-15% in real terms but with cash injections continuously kicking the can down the road..........It's gonna be very ugly at some point for a long time!!

[@mrwolsy3696]

Says the boomer who smugly paid his house 20 years ago.

[@tomagoredo]

its called debasing the currency, the only way any gov deals with insane levels of debt

[@roberttoynton9781]

Australia should be the wealthiest country in the world because of our large range of minerals and especially natural gas reserves… we should be following other countries especially Norway who is similar to us… they are a very wealthy country…

[@siegfriedsassoon5071]

Leith yesterday: No need to panic about interest rate hikes Leith today: Maybe you can start panicking a little bit 👀👀 🤣🤣

[@Leithvo]

Okay buddy. Whatever you say.

[@chrisbremner8992]

Cause of inflation is excessive immigration.

[@RobbieK10]

Keep it up, Leith!

[@scottclark1634]

Its no shock it was completely expected due to policies of this govt

[@williamcrossan9333]

I guess so many interviewers talk about reining in costs and spending, and people are not spending as much. But what seems to have been lost, is the devaluation of the worth of the Aussie currency. It takes 70% more of the folding stuff to buy the same Brisbane house, compared to 2018. Brisbane house prices are up 16.1% over the last year. It's a bit of a miracle that the inflation rate is only about 4%.

[@BillRen-nl5mx]

Inflation here is 100% due to Government obscene spending and mis management and the RBA expects home owners to carry the country

[@SamLukie]

Welfare for the wealthy and breadcrumbs for the ordinary wage earner ( and it got worse under labor.)

[@basilio5150]

The Inflation comes from the massive profits these Big Corporations are making not the man on the street Tax Payer

[@mellowman1020]

I’ll definitely lose my house if they hike it again. I can only work 6-7 days a week for so long.

[@littereverywhere]

It's not a policy failure, its a rather indifferent approach by policy makers/government, peopled by the demographic that owns the most investment property. An approach designed to steal/gleam as much money from the less fortunate/capable as possible. The demographic does not deserve your respect or empathy, it in fact preys on your virtues.

[@alexscriven8960]

How about we actually TAX the companies taking all our Gas and give it to the public in rebates. Problem solved. But it requires someone, anyone really, to have a backbone in parliament!

[@pistolpete8539]

All good out west in WA. Cheaper LNG. None of that BS woke eastern states policies here.

[@Leithvo]

The gas cartel are trying to get WA's gas reservation policy thrown out. Hopefully your government doesn't cave in.