The RBA's operating manual comes with instructions for one lever. Raise or lower interest rates. Australia's central bank, the Reserve Bank of Australia (RBA) can raise and lower the interest rate it announces to the commercial banks, and the commercial banks pass that onto its borrowers. Most borrowers are people with mortgages. MMT economist, Professor Bill Mitchell, explains how raising interest rates helps to widen the ever-increasing wealth divide in Australia. A pretty good trick if you want to undermine your middle class and pound on your working classes.
Pleading Ignorance, by Ed Kuepper, from the album Starstruck.
Too Many Things, by Ed Kuepper, from the album Starstruck
Balrog Boogie, by Diablo Swing Orchestra
(I Can't Get No) Satisfaction, by Devo
Anne Maxwell & Kevin Gaynor
