Why can't our banks help kick start the economy by passing on the Reserve Banks cut in interest rates tomorrow?
The first reason may be that the private banking system is so unstable that they need the money coming in. This is the Kevin Rudd/Wayne Swann line, and it makes me feel very uncomfortable, for the Reserve Bank is cutting the interest rate to keep money flowing. However the banks appear to be closing down business in a big way which is not exactly the spirit being foisted on us by the Reserve.
The second reason is that they're slow on the uptake and are still looking after their investors money, not heeding the needs of the nation's economy.
Meanwhile Rudd is telling us to heed the regulators advice, as his government is doing, not understanding that they are the men who have us attached to the US economy and its antics.
Shared on
Why can't our banks help kick start the economy by passing on the Reserve Banks cut in interest rates tomorrow?
The first reason may be that the private banking system is so unstable that they need the money coming in. This is the Kevin Rudd/Wayne Swann line, and it makes me feel very uncomfortable, for the Reserve Bank is cutting the interest rate to keep money flowing. However the banks appear to be closing down business in a big way which is not exactly the spirit being foisted on us by the Reserve.
The second reason is that they're slow on the uptake and are still looking after their investors money, not heeding the needs of the nation's economy.
Meanwhile Rudd is telling us to heed the regulators advice, as his government is doing, not understanding that they are the men who have us attached to the US economy and its antics.
Shared on
Why can't our banks help kick start the economy by passing on the Reserve Banks cut in interest rates tomorrow?
The first reason may be that the private banking system is so unstable that they need the money coming in. This is the Kevin Rudd/Wayne Swann line, and it makes me feel very uncomfortable, for the Reserve Bank is cutting the interest rate to keep money flowing. However the banks appear to be closing down business in a big way which is not exactly the spirit being foisted on us by the Reserve.
The second reason is that they're slow on the uptake and are still looking after their investors money, not heeding the needs of the nation's economy.
Meanwhile Rudd is telling us to heed the regulators advice, as his government is doing, not understanding that they are the men who have us attached to the US economy and its antics.
Shared on
September 16th 2008 23:52
Kevin's political strategies are becoming soft. The latest illustration is asking Malcolm to join him in scheduling a time frame for Australia to become a republic. A quick surface look at such a proposal could indicate that he had Malcolm in a bind. Should Malcolm refuse such generosity; could it be only a disarming move?
What it does mean is that Kevin does not know Malcolm. The new man is rat cunning, knowledgeable, emotionally intelligent and something of a charmer. He instantly turned the offer into an attack on Kevin. As the convenor (or driver behind the 99 push for a republic) he has surrounded the issue. He pointed out that no one in Australia would vote for a republic while the present queen was incumbent (alive? Is she?). Hadn't Kevin researched that? So the offer substantially blew up in Kevin's face. Not that he recognised that. DIDN'T FLINCH OR HAVE A COMEBACK.
Shared on
Comment by Bill Green
on John Doe Goes Live on the Wireless
Talking Headlines