07/11/2023
The reserve bank has absolutely no idea about what is happening at the frontline. With inflation being driven by fuel prices, prices that are being controlled by oil producers and oil companies, we the people on the street have to take the economic hit. Banks profits are at the obscene level because of this ridiculous and clumsy tool of interest control.
Increasing rates curtails spending by just one section of the population … people in debt .. this is just so wrong.
I’m sad, sad for the young people that have sacrificed to save deposits, borrowed and are now being hammered, I’m sad for the businesses that for no fault of their own are failing, I’m sad that in a country as rich and proud of its equity that we have arrived at a point where equality is further away than I’ve seen in my lifetime.
There is so much more to say…..
