
Currently the RBA can only use interest rates to try and control inflation.
This doesn’t work as:
- Inflation is caused by profit gouging by The Wealthy Elite, climate change, war and Donald Trump’s policies
- Interest rates only effect borrowers, not The Wealthy Elite
- High interest rates stifle home-building making inflation worse.
The RBA should be allowed to vary the compulsory super contribution amount up or down depending on the state of the economy. This would impact all taxpayers a little rather than just hammering the one-third with a mortgage.
Interest rates should be kept in-line with the OECD average to protect the currency.
The RBA or the ACCC should also be able to break up profit-gouging near monopolies.
See articles by Ross Gittins, Greg Jericho