RBA Announcement: The Significant Thing About Nothing At All!
Well, in the most exciting news since Josh Frydenberg announced that he wasn’t going to push that Hamer woman aside just because he couldn’t, the Reserve Bank announced that it wasn’t raising interest rates today… However, it also announced that it wasn’t ruling out that it wouldn’t raise them at some time in the future if it was felt to be necessary. In other words, even though nothing is happening today, they won’t rule out something happening at some unspecified point in the future if circumstances change!
The significance of this is easy to overlook, so the various media outlets deemed it necessary to point out that Michelle Bullock said this and so we can infer that she isn’t doing a Phil Lowe and telling us that rates won’t be going up any time soon. No, she said that if things are different in the future, then the RBA isn’t ruling out the possibility that they won’t do the same thing as they did today.
This is quite a significant thing because there are so many people who are quite prepared to demonstrate that they won’t do anything different no matter what happens.
For example, I read an article from Phil Coorey about how the Coalition’s nuclear policy might be released “in days”…
I could infer that the source for the article may have meant that it would be released during the daytime, as opposed to releasing it “in nights”, when the sun doesn’t shine and the wind doesn’t blow, but that might sound like I’m being deliberately obtuse.
This is an amazing development. We are told that they might release a policy which was to be released “in due course” like all their policies… Or should that be “Indue Course”?
Whatever, Phil seems to think that he got a scoop because someone told him that a policy that is forever being promised but never delivered will be delivered within days. Unlike Bullock, he might as well announce that he’s prepared to his same old thing of just reproducing whatever his Liberal source told him whatever happens and no matter how silly he’ll seem if it’s wrong.
Of course, the man is very likely right this time. After all, how many times can they leak to the media that an announcement is imminent and not look like they have no idea what they’re going to say without announcing that they had something but the dog ate our homework?
Still, it’s good to know that David Littleproud is such a believer in the free market that he’s suggesting that a future Coalition government will put a cap on renewables. You know what they say: If the cap fits… Although in this case, they’ll make it fit because who wants to be forced to have an unsightly wind farm when you could have a gleaming nuclear reactor using all that excess water that farmers just waste by pouring it into the ground?
But I digress. Let’s get back to the significant announcement by the RBA that they’re not ruling out a future interest rate rise if inflation isn’t in control. That is quite a surprise because most thinking people would expect them to say: “Look, if the past rate rises aren’t enough, I think we should just give up and accept the fact that we don’t have any answers and so we’ll just go to lunch and hope that something happens to bring down inflation but it clearly won’t be anything we do…”
In a similar vein, I expect to hear the following stories in tomorrow’s news:
- PUTIN REFUSES TO RULE OUT FUTURE ATTACKS ON UKRAINE
- TRUMP ANNOUNCES THAT HE MAY RUN FOR PRESIDENT IN 2025 EVEN THOUGH THERE’S NO PRESIDENTIAL ELECTION THAT YEAR BECAUSE OF A RIGGED SYSTEM
- GREG SHERIDAN REFUSES TO ACCEPT THAT CARDIGANS WON’T GET HIM NOMINATED AS A FASHION ICON
- BIDEN IS CONCERNED THAT HE MAY NEED A DIFFERENT STRATEGY FOR THE MIDDLE EAST
- JOHN HOWARD ACCEPTS THAT HIS TIME AS PM IS OVER
Some things are just obvious and don’t need to be said…
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10 comments
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Harry Lime -
Patricia -
Wam -
GL -
Phil Pryor -
Bert -
Canguro -
GL -
Pete Petrass -
Clakka
Return to home pageAlice isn’t the only one living in wonderland,and mad hatters are breeding out of control,mostly in Dutton’s feral party and Murdoch’s rabid media.I doubt that Phil Coorey knows his arse from his elbow.He and his fellow travellers have been confined to a bubble of stupidity for far too many years.The shit being perpetrated in this country regarding information and outright lies defies belief.
Well said Harry Lime.
And Rossleigh, brilliant as always.
Hard to disagree, Rossleigh because I think the CEOs have agreed not to rule out a pay rise even if their company makes a loss.
I see P Duddy is about to make “Significant Thing About Nothing At All!” pledge (and as we know anything that comes from the mouth of Dunceolini has an extremely high bullshit warning label attached to it) about building two, yes TWO, nuclear plants in 13 years. Mind you he makes no mention of whether they’d be fully functioning plants, that I expect will be a further pledge that another 13 years (at the very least) down the track power will be generated.
“Dutton said a Coalition government would start by building either small modular reactors, which is nascent technology not yet in commercial production, or a large scale reactor, like the AP1000 or APR1400. He said the small reactors could be operating by 2035, while the larger ones would produce electricity by 2037.”
It’s obvious that Denseman doesn’t seem to have any bloody idea what “nascent” means. This isn’t a policy it’s a Defcon 2 Brain Fart so keep your gas masks and hazmat suits handy folks.
https://www.smh.com.au/politics/federal/dutton-reveals-locations-for-seven-nuclear-power-plants-under-coalition-plan-20240619-p5jmyp.html
Wed. morning, and Peter Duckwit -Futton, an un-Australian intellectual wart, has announced a series of sites for a program he seems to have been organised to spruik, about the farcical idea that Australia can build and maintain and afford nucear power generation. This reeking brown dropping has all the skills of a bumkicker and bully, so professional. Dutton has declared he will not support civilised logical reasoning in matters of climate and the amelioration of future problems leading to death and destruction. How can we Australians tolerate an idiot leading a charge to doom? Yet the closed tiny minds of many conservative faithful will swallow guff and go along, as did followers of Adolf, Josel. Pol Pot and many other bowel projections of history. Only nations with long histories of nuclear warfare commitment have done this and it costs.., nobody today wants to finance nuclear, to insure nuclear, to house nuclear. To be a bumboy for foreign interests and pressures is sickening, treacherous, futile, unaffordable, unmanageable. We have a naval ship stuck in Darwin, unable to move. We are unable to guarantee the crewing and activity of any naval vessel, conventional subs especially. We have few skills left, no history or experience, in fact, we can hardly do a bloody thing except lie down and be exploited, quarried, swindled and fooled. Read the Yobstralian for news on this farce, coated in lying terms, for the loyal followers of Merde Dog filth and misleading policy. Do NOT listen to dopey Dutton.
Oh joy! We now know where the nuclear power plants will go, just don’t know how much we are going to be up for, but you know, we ALL know that we can trust a coalition government to be responsible with taxpayer’s money and are dedicated to lower power prices no matter what the so called ‘experts’ know about the costs of these things. I do wonder, with Dutton cozying up to Gina whether there is an investment opportunity there for Hancock Resources…. and knowing how Gina hates profitability how that will impact on the average consumer’s power bill.
Food for thought;
Oh shit, forgot, not allowed to think, it’s dangerous.
Let’s say, for argument’s sake, that the cost of a single nooklea power plant is in the order of 10-15 billion dollars; and let’s also assume, the Australian industrial landscape being what it is, that costs will blow out extraordinarily, adding somewhere in the vicinity of an additional 30-50% to the initial estimate… each plant now in the rarefied cost strata or ~15-22 billion dollars at completion.
Ten of these fantasies would thus be expected to cost the Australian taxpayer something like ~150-220 billion dollars. Where would this money come from, given government revenue is generally allocated across many sectors with little to spare for hugely expensive capital works programs?
Secondly, where’s the necessary expertise needed to build these fantasies? Luigi the local Italian concreter doesn’t quite fit the bill for the required skill set, as do neither the local sparky, chippy, plumber and so on. AFAIK, (I could be wrong about this), Australia has exactly zero skilled personnel with experience in nooklea power plant construction. I guess we could invite the Russians or Chinese to contribute their expertise & labour.
Thirdly… siting? Has Chrome Dome commissioned or canvassed the prospective communities to see whether they support his hare-brained back of the drink’s coaster sketch for future power sourcing?
Fourth; waste management. It’s guaranteed that no-one, no-where in this country is going to put their hand up and say yea to being the geographic locale for a nooklea waste facility.
I do hope that today’s announcement has the best outcome; that of consigning Chrome Dome to political oblivion for eternity. It’s only fair & proper that he gets his just deserts.
Canguro,
I think calling him Chrome Dome is a bit of an insult, chrome has a shiny look to it, on the other hand a better nickname for Puerile Dorkendope would be Lead Head or even Plutonium Pate.
Anything that involves the LNP spending public money with abandon means the true costs of building nuclear reactors (and anything else for that matter) will be doubled at the very least.
Bullock is nothing more than a Lowe clone, looking for any and every opportunity or excuse to raise interest rates. The end game is that it will make Labor look bad and get the LNP back into power. This was well known before Lowe retired and I still wonder at the stupidity of Labor for selecting her to take over. WTF Labor???
What an as yet unmitigated designer shit show. Everyone wants to be a millionaire (or per chance billionaire) – who to blame? Well, its seems to be in the hands of those that control the flow of money – governments, whether democratically elected or authoritarian, along with their bureaucratic flunkies. After all, they tell us they’ve got to set the bounds within the ‘free’ world. The bounds of endeavor, competition, safety, security and in the shaping of paradise.
Ha ha ha haaar. What a bunch of cheap-talk wankers that have demonstrably failed to be determined in pursuit of universal equity and balance. Instead, habituated by hubris, driving bias and supremacy via endless iterations of corruption, and in that doing, not achieving a paradise, but a competitive ecological wreckage, and an almost universal coward’s predation upon, and disenfranchisement of, the young and the lower and middle classes.
Such a sticky web of dysfunction they have woven, that it has entrapped everyone. They just carry on, in a mangled foxtrot passing their poisoned sceptre to other aspirant pretenders, and in a tango under the veil of feckless corporate dominion fashioned via their own stupidity.
They are deserving of all the mistrust being heaped upon them by ordinary folk. So woven into place are the dysfunctional buttons of their corruption, that the whole world is being smothered by a plethora of extremes grasping at apparently immovable threads of control, with the so-called ‘independent’ experts blindsided by the darkness. Even those demonstrating some pursuit of necessary reform, especially in the face of crisis, are bound into small iterative steps, twists and turns in trying to extricate us from the sticky mess. But there is no will for endurance, like for a doctor having to clean a wound rather than amputate, there is no thanks for the further pain, we just want it over and done with, so we can resume bathing in bling.
Just like the Duttonate’s nuclear fiction, as we stand near the black hole at the edge of the event horizon, the only thing apparently growing now is desperate absurdity and confused hostility, a multi-dimensional game of snakes and ladders and loaded dice within dark matter. It seems that the quest for clarity has brought many, in the face of the busted time lords, to a nihilistic plunge into a wormhole, hoping for a better universe at the other end.
How many will be sucked in or spat out?
We’ll see. Whatever.