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Greens demand hostile takeover of RBA in exchange for passing board reforms in likely death knell to treasurer's bill (www.abc.net.au)

submitted 5 months ago by [email protected] to c/[email protected]

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This seems pretty wtf.

What sort of precedent do they want to set? Whether or not you embrace neoliberal ideology political interference with monetary policy has not typically gone well, no matter what or whom you want to blame for that.

Am I missing something, or are they just going off the rails here?

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[–] [email protected] 9 points 5 months ago (1 children)

If politicians can dictate to the RBA idiots like Morrison would have dropped the rate just to win an election and what do you think the chances of the new government raising them?

It would be a disaster and we would be running at Argentinian levels of inflation very quickly

Is the RBA perfect with 20/20 foresite? No

Is it better than having politicians running the levers to suit their short term agendas? Fuck yes

This is Pauline Hanson levels of stupidity from the Greens. I had hoped they would be much better than this.

[–] [email protected] 3 points 5 months ago (1 children)

Politicians apparently can, like there are supposedly legal powers to do so which is what this is about.

However they don't. Although Keating came close to doing it once.

[–] [email protected] 2 points 5 months ago

That’s right I think, which goes to show the Greens want to do something that even Paul Keating baulked at. A very bad precedent to start.