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Location: Rant & Rave
Discussion: The government is too big
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Anonymous |
The government is too big
Feb 27 2008, 4:23 AM EST Stop government interfering in the economy. 20 out of 33 found this valuable. Do you? |
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Anonymous |
RE: The government is too big
Feb 27 2008, 4:31 AM EST Ah, a fellow libertarian. Yeah, I agree, although a mininum wage should be kept, but the said wage should be not too high, and the power of the trade unions should drop down. 2 out of 3 found this valuable. Do you? |
 trgh |
RE: The government is too big
Feb 27 2008, 5:37 PM EST Are you refering here to the RBA? If so, I agree - The greatest and most pernicious sabotage of the economy is the work of the RBA and their usurious loan practices which demand more money back in repayments than the amount of money issued. This is the main CAUSE of INFLATION. However, before you blame the government, remember that the RBA IS NOT A GOVERNMENT DEPARTMENT as everyone seems to think. It is a private organization with profits as its greatest motive (at the expense of the welfare of Australian citizens). The Government do not run the RBA, the RBA dictates financial and economic policy to the Government! What we really need is government inteference / intervention into the monopolistic and corrupt practices of the RBA. Our government is not even allowed to audit the RBA, yet the RBA is given the reigns over economic & financial policy of the country. The government should take back their responsibility in financial matters. Perhaps they can relieve the resources of the ATO (about as big as our Military) by charging a 1% transaction tax across the board (huge revenues for a tiny bit of administration) and divert their efforts into developing a National Credit Authority to keep National accounts and to supply dividends to all citizens so that all the goods and services available can flow freely to the consumers - irrespective of their employment status. This can be introduced gradually and pragmatically, but to even start to loosen the hold that the RBA has over our economy is a move in the right direction. The fist step is the hardest but it needs to be done. It was Lord Acton who once said that the one fight which will have to be fought sooner or later is that between the people and the banks. 0 out of 3 found this valuable. Do you? |
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Anonymous |
RE: The government is too big
Feb 29 2008, 1:02 AM EST "It is a private organization with profits as its greatest motive" Perhaps you are thinking about the US federal reserve. Your rhetoric is not backed up by any significant understanding of economics or Australian structures. The RBA is not a private organisation. I don't personally think we should have a central bank. However your arguments are based on fallacies and misunderstandings. Don't stop trying but you are a long way off the mark at the moment. 0 out of 1 found this valuable. Do you? |
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trgh |
RE: The government is too big
Mar 2 2008, 6:01 PM EST If the RBA is a govt department as you suggest, then how come on the one hand Rudd says "Sorry about the hike, but we are doing the best that we can" and then does nothing about interest rates? Its either because he can't or he won't. Do you find this valuable? |
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Anonymous |
RE: The government is too big
Mar 2 2008, 7:56 PM EST "If the RBA is a govt department as you suggest, then how come on the one hand Rudd says "Sorry about the hike, but we are doing the best that we can" and then does nothing about interest rates?BEcause it's independent. It's still government owned, but they try to keep politics out of decision making. If they didn't, then politicians would have never raised interest rates last year for example... and like it or not, the rate rises are necessary.. 0 out of 1 found this valuable. Do you? |
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trgh |
RE: The government is too big
Mar 2 2008, 9:51 PM EST "they try to keep politics out of decision making ... and like it or not, the rate rises are necessary.. "And what do you suppose "politics" is, if it's not decision making? The last monetary policy made by the government was to absolve the government of all responsibility in the area of monetary decisions - handing it over firstly to the CBA, now RBA. Now what if the RBA makes bad decisions? Does the government have the ability to override? Yes - its in the Constitution. But they will not do it because that would be cutting off the hand that feeds them - AMPUTATE NOW! It is better to survive with one hand, than die with a complete body. Rate rises are necessary you say. Necessary yes - for our continued slavery to the banks! Do you find this valuable? |
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Anonymous |
RE: The government is too big
Mar 4 2008, 9:52 AM EST If the government could control interest rates (and the supply of money) than interest rates would always be too low and the money supply would grow too quickly. That's because interest rate rises are unpopular, and the government can artificially create employment by printing more money. But over time people realize what is happeningand unemployment will increase with a higher level of inflation. See this lecture: http://nobelprize.org/nobel_prizes/economics/laureates/1976/friedman-lecture.html Evidently, the general public has very little understanding of economics, let alone monetary economics. Placing monetary policy in the hands of the government (ie. voters) is a recipe for disaster. Do you find this valuable? |
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trgh |
RE: The government is too big
Mar 4 2008, 6:51 PM EST " interest rates would always be too low and the money supply would grow too quickly. See this lecture:How would money supply 'grow too quickly' if interest rates were low? I am not proposing here, that money be printed without bounds. It needs to be adjusted and controlled. But whoever does it (RBA or Gov't), needs to do it based upon the available wealth that it represents - and not to try to exercise control over production (or consumption) by adjusting its affordability! And if they don't do a good job of it, we the people need the sanction of being able to vote them out. That is why monetary policy, in my opinion, should be the responsibility of government (which is, in fact, written into our constituiton). By the way, aren't you also a member of the public? Wouldn't you like the sanction of veto or is Totalitarianism ok for you? Do you find this valuable? |