When something I say causes a wave of moral indignation — which seems to occur fairly regularly — I have been known to post a ‘Hurt Feelings Complaint Form’ on my social media.
The Reserve Bank’s ability to create inflation is akin to a power to tax. After all, inflation reduces our purchasing power just like tax. The Reserve Bank’s legislation should be updated to set out how much inflation the government and parliament expects.
When you’re told you’ve got a spending problem, and you respond by spending more, it’s pretty serious.