What if soaring rates don't kill inflation? Central banks may be about to blow up the economy
What if soaring rates don't kill inflation? Central banks may be about to blow up the economy
www.abc.net.au What if soaring rates don't kill inflation? Central banks may be about to blow up the economy
We could be wreaking havoc trying to reach the 2 to 3 per cent inflation target, writes business editor Ian Verrender. What if it's a goal that is unattainable?
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that's how they control inflation - by killing the economy, increasing unemployment, thus disciplining labour and suppressing wage increases and consumer demand. Instead of govt spending on programs, it gives money to bondholders, who hoard it until interest rates come down.
Australia has leading scholars on MMT, which explains exactly what is going on, a very different story than you'll hear in the Murdoch media.
1I'd be really interested to see policies based on MMT in practice.
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