Is devaluing the dollar the best way to stimulate the economy? Some of the most influential economists in this country seem to think so, but we disagree. Devaluing the dollar would simply transfer wealth away from anyone who has Australian dollars. This is obviously an unfair solution which benefits those who create our money - primarily the big 4 banks (whose opinions feature heavily in the article). A far better way to stimulate trade and job creation would be to spend money into the productive economy. There is plenty of work that needs to be done and 775,400 unemployed people who can do it, but the money that would put the two together has instead been directed towards inflating the property bubble and other speculative investments.
Posted on: Thu, 25 Dec 2014 01:22:24 +0000
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