It's Your Fault!

Image: Unsplash

Apparently. 

"You need to earn less money."

"You need to potentially lose your job."

"Your housing payment needs to be driven out of reach for you to pay it." 

"You need to spend less, stop buying stuff, its your fault."

They may not be saying it in exactly these words, but the RBA policy has basically these underlying messages. Australians must earn less, spend less and have less, or they will seek to take it off you, so you can't spend it. 

Think I'm being a bit over the top? Read this: 

"Reserve Bank boss Philip Lowe has called on Australians to 'ride out' the period of rising inflation by not issuing pay increases despite cost of living concerns.

Dr Lowe, who earns more than $1million a year, explained in a speech on November 22 that wages needed to remain steady if Australians wanted to avoid another rate hike.

The RBA Governor wants any wage gains to be kept below 4 per cent, which means workers will effectively be taking pay cuts as the price of food, fuel and household bills rise.

'I know it's very difficult for people to accept the idea that wages don't rise with inflation and people are experiencing declines in real wages. That's tough. The alternative, though, is more difficult,' he said.

His comments have gained traction again on social media this week as Australians increasingly struggle with the cost of living crisis...

...Dr Lowe said that there was a 'natural appeal' to lifting wages to match inflation but stressed that it was the wrong move as it could force the central bank to issue more rate rises."

They are acting as if it is your fault. Our fault. But you are not the cause of inflation, not directly anyway. The more than 300 billion dollars in stimulus given out by the previous government is. Sure many of you were happy for it. Many of us accepted some of it. Add to this the super that was allowed to be taken out, and the previous Liberal government flooded the economy with an instant money supply not before seen in this country. This was always going to cause inflation. 

Add to this that the outgoing borders were locked, and people could only spend that money here. And add on top again that the RBA told you that interest rates would remain low till at least 2024, and government and para-governmemt organizations, created a perfect storm for escalating inflation. But the government always takes back what it gives. And that is happening now. 

Most of that excess cash flow is now being consumed with increased prices. And now its your fault. First they wanted you to spend. Now not to spend, and they are unhappy you haven't listened quick enough. 

Who does this all serve anyway? Aussies are poorer now in real terms than they were in 2019. Our money is worth less, because it doesn't go as far. But you need to suffer to save the country from their policies. 

Who does this all serve? Not us, not Aussies, that's for sure.