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…
[textblock style=”7″]
Like what we do at The AIMN?
You’ll like it even more knowing that your donation will help us to keep up the good fight.
Chuck in a few bucks and see just how far it goes!
Your contribution to help with the running costs of this site will be gratefully accepted.
You can donate through PayPal or credit card via the button below, or donate via bank transfer: BSB: 062500; A/c no: 10495969
[/textblock]
