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That's because the debate and popular press around all this discussion in Australia (and elsewhere) is a populist/political cluster fuck and has almost nothing
by ACow_Adonis 3y ago
That's because the debate and popular press around all this discussion in Australia (and elsewhere) is a populist/political cluster fuck and has almost nothing to do with economics.
Reserve bank doesn't want to talk about its roll in credit/ monetary expansion during the pandemic, gov doesn't want to talk about its policies to do the same and not wanting to address inflation through taxation or fiscal policy, business wants to pretend its not self interested and profit seeking, consumers don't want to admit that they might actually have to make some price-elastic decisions or change behaviours based on how much things cost, and everyone wants to pretend that we weren't responsible for fucking up housing over the last 20 years of policy or that there will be real repercussions from the boomers aging out.
So instead we get economic discussion that looks more like the multiple spider-man pointing meme.