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Applying Hanlon's Razor here: I do not believe the Australian government wants inflation. I believe they are generally incompetent, not malevolent. They are to
by trog 3y ago
Applying Hanlon's Razor here: I do not believe the Australian government wants inflation. I believe they are generally incompetent, not malevolent.
They are too scared to do anything and risk losing the next election, despite the fact that they literally just won one, and they are too uncoordinated to do anything useful. It's easier to literally sit there and do nothing and put all the blame on the RBA and hope that it magically fixes itself somehow.
- CTDOCodebases 3y agoIt’s not malevolence though. It’s incentives. Therefore Hanlon’s Razor does not apply. The debt has to get paid somehow in order for the government to meet its ongoing financial obligations.
- juve1996 3y agoIs Australia currently not meeting their debts or at risk in the short term future of not?
- CTDOCodebases 3y agoYou haven’t defined short term but I will say no. When I say ongoing obligations I am referring to welfare and Medicare. EDIT: Australian debt to GDP: https://tradingeconomics.com/australia/government-debt-to-gdp#:~:text=Government%20Debt%20to%20GDP%20in,percent%20of%20GDP%20in%202008 https://tradingeconomics.com/australia/government-debt-to-gd.... For a US perspective see below: https://uscmarshallweb.s3-us-west-2.amazonaws.com/assets/uploads/s1/files/keynote_speech_of_stan_druckenmiller_at_the_37th_usc_marshall_center_for_investment_studies_annual_meeting_may_1_2023_hdmqn6eb4m.pdf https://uscmarshallweb.s3-us-west-2.amazonaws.com/assets/upl...