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Indeed.. And we are getting the fruits of that cave in now: https://www.abc.net.au/news/2026-02-09/independent-inquiry-launched-into-nacc-chief-defence-ties/106320954 Second time he is being investigated and still there... And people wonder whty the protest parties such as One Nation and Reform in the UK are breaking ground.. And why Chump gets elected a second time after a disastrous first round.

Normally, it does. It is when, why, and the way it is used that makes the difference. In the case of the GFC, the banks were largely on their knees. They had burned through their capital ratios and hand nothing left in the banl (a capital ration is the ratio of cash and cash like securities held compared with loan and other exposures on the books - more or less). There was a cred crunch at the time, which meant the money wasn't flowing between the banks. Banks need money to survive and the money markets help the banks manage their cash flows amongst other things. So, banks were burning though their cash at an alarming rate and a few did fold. So, QE was used to purchase government debt (and some high grade commercial debt) from the banks. The money to the government had already been lent, and the money provided to the banks helped them stabilise their balance sheets not increased their lending capacity. I think the RBA went one further and slowily cancelled the federal government debt that it purchased, but don't quote me on that. Because the banks needed the cash to stabolise the system, while money was added to the money supply through quantiative easing, nothing was really done with it that created a credit multiplying effect. However, it only lasts a certain time before it does create a credit multiplier effect (a lot longer in this case than many economists projected). Part of this is because the divisions of the banks that were the beneficiaries of QE by selling their government debt in the open market were parts of the banks that don't really lend to individuals nor small/medium business enterprises. It is usually very large corporate grade stuff and mostly government lending. This meant the government had a ready supply of cash available, partly to cover the cost of the bank bailouts (I know Australia didn't have them), but also to lond to those where eother the spend budget is already known (government) or where they will invest rather than consume. But, as you could see, time eventually runs out oin that space as well, and the dollar devalued (which is what happens with inflation).

I was always under the impression, anytime you printed a lot of notes without the necessary asset or productivity backing, you would only end up with a bad dose of inflation.

QE is a monetary policy lever that is uysed by central banks. It is where the central bank authorises printing of money to purchase the government debt already issued and usually held by private institutions. It is used to, in a more controlled manner than printing money and sending it straight into the hands of people to spend, increase the money supply in a drip feed way and stabilising the financials system.. It works well when done in moderation, but the deployment post GFC was, in the end, maintained for too long; well after the financial systems stabilised and credit markets flowed nicely again. The problem was they bought the bait that the financial markets become dependent on QE and the new money should still flow. Once stabilisied, you can withdraw QE in a gradual basis and allow the system not to rely on new money after a while. But what happened is that, after a while, when it was no longer needed to stabilise the money markets and other elements of the financial system, it became just another stimulus package and it contributed to inflation. Hindsight is wonderful.

I do try..

Keep counting.. At least 6 times.

That's a low bar.

Makes me proud to live in a little inconsquential no-account place that Chump couldn't even find on a map.

Doesn't that just 'roll off the tongue!'

He is a cunning linguist.

I hope your shift key is not too sensitive. We GET enough UPPER case letters when NOT necessary.

I doubt WE really have that Luxury. Trump is NEVER WRONG. (but I think it's MARY Trump they are referring to). America has started all recessions lately and this Fool could do the really BIG one, because HE's Clueless, Vain and Greedy beyond Belief. He's only EVER been in Real Estate where his Exaggerated Reputation was used to the full .Now He uses Stand over Tactics and tears up existing agreements and Treats Former Allies Like $#!t. THIS Damage will take A LONG time to repair if Indeed It is Possible at ALL. Once Shunned, Twice SHY. Who in their right Mind would TRUST PUTIN also? Bare Faced LIES to the United Nations. Nev

Well. It used to be. Now, the world steps back to watch how it plays out.....

What ? You poor misguided man.

My NEW Keyboard is too sensitive and I always have to edit it. Funny? This time I didn't. The Bl@@dy thing started reading the Posts about 10 Minutes Back. Nev

That's how he does thIngs. . You don't need Lawyers when you can PICK the Judge. Trump IS a DICK tator. He's Made IGNORANCE an ART form.. Nev

If I post large tracts of text, it's most likely copy and paste.

Now, all we need, is to get Nomadpete to do proofreading on his posts! 😄

Jerry is either a skilled typist or he has mastered voice-to-text. Good on him!

Jerome Powell is the current Federal Reserve president, but Trump has been calling for his head for some time. His term will expire in May, and Trump has his replacement lined up.

The Orange U Tan will Bugger it UP of Course. He's been Bankrupt at Least 2 times. Nev

Washington is the backer of the $US, but the Federal Reserve is charged with keeping the U.S. monetary system stable and functioning properly. The Federal Reserve is independent of any political demands and consists of 12 Reserve Banks and a committee that sets U.S. monetary policy, with particular emphasis on interest rates, which are a key monetary driver of any economy. The overwhelming belief amongst U.S. politicians is that the Federal Reserve must operate completely independently of any political interference and be allowed to make monetary policy corrections that it believes are needed to keep the U.S. economy and the $US on an even keel. However, the Tangerine Toddler believes he alone has to totally control the monetary policy of the U.S., and I reckon a lot of financiers and economists lose a lot of sleep over what would happen if the Tangerine Toddler got his way, and took control of the levers of the money machine. https://www.clevelandfed.org/about-us/understanding-the-federal-reserve

We have a cyclone following our NW coast around from Broome, past Port Hedland, Karratha, Dampier, Onslow, Exmouth and Coral Bay, and it's still coming South. The Pilbara Coast has had a fair amount of rain, 20mm to 120mm, and the forecast is nearly all the lower part of W.A. is going to get some rain over the next 2-3 days. That will be good, it's been a consistently hot December and January, especially in the wheatbelt, and the rain will cool things down a bit for a while. According to the 4 day outlook, most of Australia is forecast to get some rain over the next week, from a big trough lying NNW-SSE across the country. https://reg.bom.gov.au/products/IDW60281.shtml

Watch Prime Mover races and smoking ceremonies. Love the Turbo Noise. Nev

Finally! Afer a bit of rain on Satruday, which resulted in the cancellatoion of teh local jockey club meeting, the rain started to fall just before dawn this morning. It is the type of rain you raelly want after months of dry. It is gentle, soaking rain that does not result in rushing torrents across bare ground. After only a few hours I see that my drinking water tanks are replenished. Now I will wait to see if any seed that has been in the soil will germinate to give some late summer feed, or at least hold the topsoil together.