Thursday, October 8, 2009

Economists have conned us all - they really do rule the world

Apart form the absolute lunacy that the Reserve Bank of Australia has shown in increasing rates to early, based on the findings of the same economist who got us into this mess in the first place we see an equally uninformed and selfish approach from the economists of the major financial institutions aggressively lobbying for a change in rates. There lobbying has absolutely nothing to do with anything other than more profits for the organisations who employ them.

Clearly these "people" have no concern for the people who are now out of work in the huge number of small businesses that are now insolvent and because of the waiting periods at "Centrelink" and other Unemployment benefit organistaions have not yet hit the stats.

I am sorry but you guys are just using muscle to meet your own selfish ends. Uncontrolled markets globally are still exactly uncontrolled because how can the Australian Dollar the flagship of one of the smallest economy's globally become one of the strongest and most heavily traded currencies in the world.

Talk about saying whatever we need to say to suit our own need is the statement from Choice re the inconsistency of rates amongst the Banks. Because they have not moved in consort they question the motives. If the had moved in unison they would have cried collusion.

Sorry guys I have absolutely no faith in your so called profession - frankly as a profession I have more respect for the oldest profession in the world.

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