PKT message, The Misdemeanours of Modern Banks

Yes, a housing boom in Australia was fueled by lower interest rates - now
being raised again - and by fiscal policies, inter alia, favouring first
home buyers.
The trouble is that we try to manage everything by the simple device of
raising or lowering interest rates.
It's a sort of economic-policy primitivism - and/or what I've called
previously political infantilism.
There's an element of farce in the whole situation.
But it's not a farce that's at all funny.
It destroys the prospects of a lot of decent people.
It damages the economy as a whole.
It draws our attention away from the positive and even visionary policies
and programs we should be drawing up for the future.
Potentially a country with outstanding, perhaps unequalled prospects,
Australia is being denied its potential through this infantilism of its
political "leaders" and the primitivism of its economic managers and
economic "gurus."

James Cumes
http://VictoryOverWant.org

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>From: "William B. Ryan" <william_b_ryan@xxxxxxxxx>
>To: cresscourt@xxxxxxxxx
>Subject: Re: [gang8] The misdemeanours of modern banks
>Date: Mon, Jun 17, 2002, 10:14 pm
>

> There is a housing boom in Australia? There certainly is one here.
> --
>
> On Mon, 17 Jun 2002 21:45:28
> j.schukte.baeuminghaus wrote:
>>Chris,
>>
>>Not real bad!!
>>Your letter to The Times, I mean.
>>Why don't central banks do it?
>>We used to in Australia.
>>We gave it up.
>>Now - right now - we're raising interest rates to stop a housing boom.
>>Would you believe it?
>>How can we be so stupid?
>>
>>
>>
>>James
>>http://VictoryOverWant.org
>>
>
>
>
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