The Manning Communuty News
I have listened to our economic narrative with interest and sometimes alarm over the last 30 or so years. I have no economic credentials, so like our climate denying shock jocks, I thought I’d call out the proponents of the market forces philosophy as BS spruikers!
Bankers cannot do their jobs well without a bonus. The CEOs of our major 4 have generously declared that they and their staff will forgo their bonuses in the light of 23 million or more incidences of breaking the law. They are probably lucky that those whom market forces have left behind are filling the gaol cells and there is no more room for the illustrious.
The million dollar wage recipients of the RBA have used trial and error for more than 6 years now to see if they can solve an economic problem. Failed miserably! Sent house prices sky high, having a serious impact on our youth being ever able to purchase a home. Yet now we turn our backs on market forces and refuse to take any other course of action which may jeopardise the house prices. People will lose confidence and will not spend (consume).
Guess what? The consensus from our financial geniuses, The RBA will cut rates again in February.
Are they on holidays in January?
Now let’s see the other side of the world.
Doctors and nurses do their jobs on salary or part time wages, help save a life no bonuses!
Teachers do their jobs on salary or casual wages, help a kid to read or get a student to uni, no bonuses.
Firefighters have sacrificed their lives and worked their butts off in the most extreme of adverse conditions, no pay (unless they have generous employers) and certainly no bonuses.
Where are these brilliant market forces when we need them.
I hope most of us still believe that doing something worthwhile is its own reward.
PS to the RBA chiefs, have you ever thought that most of us are tired of consumerism, it has brought us much grief and little pleasure.
Those who are unable to progress from failed paradigms are likely to jeopardise future prosperity.