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Breaking: Major banks respond following RBA decision to cut interest rates (www.abc.net.au)

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

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[–] [email protected] 1 points 4 days ago (1 children)

less goods would be produced as there is less demand So that's a bad thing?

From a capitalist/profit point of view I can see it is, but isn't it good for everyone?

Like having less cars on the streets. That's probably bad for profits, but good for everyone. Though I guess humanity is still very far from a point where people in power would be able to see it that way.

[–] [email protected] 2 points 4 days ago

Yes, in reality, less consumption is a very good thing.

In capitalism less consumption is an existential threat and cannot be tolerated.