Unions are financial experts?????

news article here


Righto, so apparently the CFMEU are now economic experts.  Please, they wouldn't know their arsehole from a budget ballsup. I mean it, clearly from this article they don't.  Experts from Deloitte access have already gone on record stating this budget will have very little direct influence on the RBA. There are many factors that the RBA look at when deciding how the rates should move and politics is not one of them. Although many politicians will argue they are the cause of interest rate drops or their opponents cause rates to go up, the fact of the matter is that the governments overall running of the country is only one component in the causalities of rate changes, Large companies and international markets play a larger role.

To see a union (who's leading expertise is in striking) making public statements like this is hilarious. If Ronald Mc Donald  started commenting about the implications of foreign policy we'd all have fits, we'd all be crying. No one would  credit him with a single ounce of knowledge on the subject. The same goes with this Union, they have entered into a commentary that is clearly outside their scope of works/education. There can only be one reason for these comments, They want to bolster the labour governments standing in the polls before the next election. Remember the unions are the ALP.

Apart from publicly making comments that are not exactly true, they show us they have no concept of how the RBA works or what influences it.

Please people, keep within your professional limitations. I am not Stupid.