Get a Flat Mate – RBA Says
The following was published 1st June, 2023 in the Newcastle Morning Herald
Our Response to the Published Article
The Reserve Bank has lost the plot as they seem powerless to control inflation. They say rents will rise which will lift the inflation rates higher; and their solution is to tell people to get flatmates or don’t leave home. Sorry about those fleeing domestic abuse, the RBA just threw you under the bus! The policies of the RBA are causing price increases in housing and in turn this will cause rent increases and so the vicious circle continues. They say to lift productivity as wages are increasing without any productivity. Most of our jobs growth are service industry if we consider training, NDIS and age care services in all that band of service industries and these do not produce value added productivity. They produce a lot of activity but virtually no productivity. It is the manufacturing industries that produce the measurable productivity; but we sent most of our manufacturing jobs overseas. Successive governments have ‘decided’, by their actions, that we should exploit the third world nations and let them produce the things we need and we will have unproductive work here while we can give lip service to anti-slavery laws. (We would not want to apply that to our imported products.
The Governor of the RBA should tell the government the truth! If you want a flourishing economy then get the manufacturing sector on the move and growing in Australia, cut down on the dependence on imported products, cut back on immigration until the housing shortage is resolved, manage the laws governing the building industries to stop the rate of bankruptcies in the industry, and get Australia working again in real jobs. The laws governing the building industries must stop the principal contractor diverting funds from one project to others without paying the subcontractors and completing the homes, then filing for bankruptcy. We at C4C are disgusted that we see the continual march to bankruptcy in the building industry, while no action comes from the government.