Do captains of industry know the pain they bring?

Credit:Illustration: Cathy Wilcox

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Rate rises
While economic theory may espouse the need to raise interest rates to curb inflation, I suspect many of those who make such decisions have never experienced or felt the impact their policies have on those who are already struggling (“Mortgage woes deepen as rates hit 10-year high”, 7/12). On low incomes and without an increase in salaries or benefits for years, many of these Australians are now facing homelessness, marriage and relationship breakdowns or serious mental health issues.

Likewise, I doubt whether the captains of industry will change their views about opposing any form of industrial relations that may raise wages and limit shareholders’ growth. Instead, the pressure will be on governments to fix the problems while there appears little enthusiasm for the raising of taxes as a means to address inflation by limiting spending and to provide better health, education and housing for the battlers in our community.
Ray Cleary, Camberwell

Buyers rushed in
People go to extraordinary lengths in their quest to buy their own homes. They pay extortionate amounts and take out eye-watering mortgages. They need to demonstrate to their lenders they can afford to make repayments with interest rates not just at today’s levels, but at levels several points higher.

A year ago, even had the Reserve Bank said rates would rise, very few people would have stood back. They were far more likely to complain that their lenders were too harsh in assessing their
(in)ability to make higher payments. People wanted to get into the housing market before prices rose. They would have ignored the Reserve Bank guidance, whatever it was.

I feel genuinely sorry for people caught in a now difficult situation, but as Jessica Irvine writes (“Reserve should take a COVID bow”, 6/12), we should be praising the Reserve Bank, not blaming it for borrowers’ remorse.
Louise Kloot, Doncaster

Faith in Reserve is fading
In “Another Tuesday, another interest rate rise” (7/11), economist Steven Hamilton says the Reserve Bank is “insular, anti-intellectual … and economic research is ignored”. Hamilton’s views echo many financial experts while the RBA governor raises interest rates again – to a 10 year high. Why has Philip Lowe previously resisted an independent review of the RBA? How else can Australians be assured the RBA board – appointed by the treasurer of the day – is competent? How fortunate that a newly elected treasurer called for a wide-ranging review, due to be released in March 2023. The RBA insists the rate rises are necessary to counter inflation, but why do so many of us wonder if the RBA knows what it’s doing?
Sally Davis, Malvern East

One-trick pony
What was that definition of insanity? Something like “doing the same thing over and over again and expecting a different result”. We now have the highest mortgage rates in 10 years and inflation is still high. It would suggest the RBA is a one-trick pony – so it stays in its inflation-busting insanity loop of hurting the vulnerable and making bankers rich.

As a retiree with no mortgage, my thanks go to the RBA as my fully franked dividends from my banking shareholdings will do quite nicely. I am expecting super profits and super dividends thanks to their insanity loop policy. We might be a lucky country for some, but we are dumb when it comes to protecting our most vulnerable.
Keith Hawkins, Point Lonsdale

Tap into equity
It was heartbreaking to read the effect interest rate rises have had on 76-year-old retiree Maurice Eagle (“I can’t afford to buy food, sometimes I go without”, 7/12). I would suggest that Maurice investigate the home equity schemes offered by banks and reputable financial institutions. This would provide the funds he needs while allowing him to live in the home he loves.
Name withheld on request

THE FORUM

Control the cats
The issue of wandering domestic cats and curfews always causes strong feelings among cat owners, with most feeling attached to the “suffering” of the confined cat, and very little to the suffering of native fauna killed by roaming predatory animals (“Claws and effect”, The Age, 7/12).

One study estimated that “domestic cats take between 10 and 20 birds per hectare per year”, so in a city of a million cats, that’s 10 million to 20 million birds killed by roaming cats, quite apart from lizards and frogs. It’s the main reason for curfews.

Dawn-to-dusk curfews shift the killing to night-time. Dusk-to-dawn curfews shift it to daytime. The only real solution is 24-hour curfews.

Dogs are not allowed to wander freely, and the same should apply to cats – for their own protection when crossing roads, and more importantly for protecting our declining urban wildlife.
Robert Bender, Ivanhoe

Peaceful solution
We have kept our successive cats indoors for nearly 40 years. Our present feline, Tilly, loves to sit on windowsills, gazing at the ravens and the magpies, uttering her fearsome hunting squeak. This arrangement ensures that both Tilly and the local wildlife should live long lives. For exercise, she plays chasey with our dog.
Margaret Ady, Avondale Heights

Albanese’s agenda
Shaun Carney is right in arguing that the Albanese Labor government must begin implementing policy for the benefit of the country and not rely on the voters’ memory of the execrable Morrison government (“Cautious Labor’s long-term dilemma”, 7/12). That government was so on the nose that virtually anyone – including the drover’s dog – who led a new government would be evaluated positively, irrespective of the fulfilment of more long-term concerns on the basis of which any new governments must be judged. Such concerns relate to the progress in mitigating the effects of climate change, of reducing economic inequity, of co-ordinating the national health system, and a whole range of other problems.

However, these are not accessible to the kind of sensationalism embodied in reporting on a past prime-minister whose record of ongoing behaviour still continues to help the new government retain its popularity.

Ultimately, the Albanese government must be judged on its own progress and not through the fading mist of Scott Morrison’s government.
Greg Bailey, St Andrews

Out of line
The legal team representing Scott Morrison at the robo-debt royal commission next week has stated that “his reputation is on the line …” (“Morrison in fight over secret papers”, 7/12). Really? I would respectfully suggest to the learned friends, that from what we know hitherto, Morrison’s reputation has well and truly already crossed the line.
George Greenberg, Malvern

Meaning of Christmas
A lovely article by Kelly Eng (“Toughest question for any parent at Christmas”, 7/12). I recall my own son asking me the same question when he was a little boy, and like Kelly I told him about St Nicholas and put the idea of gift giving in the context of helping all children and especially those who are less fortunate.

We live in a consumer society and Christmas advertisements bombard our children. How important it is to keep the magic alive for our young ones, as they look to us as parents to tell them the truth. The truth is that Christmas is a time to think about others, and in the tradition of St Nicholas to especially think of those less fortunate.
Julie Ottobre, Sorrento

Secret Santa
When I was nine, many years ago, I still believed in Santa. My friends at school tried to reason with me but I didn’t believe them. One Christmas night, I stayed awake until Father Christmas came to my bedroom and put a pile of presents by my bed. I thought he was wearing Dad’s dressing gown but I pretended to be asleep.

Next morning when I told my family I saw Father Christmas wearing Dad’s dressing gown, it was hard for them to contain their laughter. I think I realised then. Next year, all presents were left under the Christmas tree.
Susan Munday, Bentleigh East

Easily informed
Your correspondent states that it wouldn’t be wise to let 16-year-olds vote because they haven’t had enough life experience to make an informed decision (Letters, 7/12). How then does he explain those with life experience who still choose to vote based on falsehoods, (anti-vax, anti-climate change etc), discrimination (anti-gay, anti-trans, anti-refugees etc) and other fact-free views, because there are many. I would suggest the average 16-year-old would be better informed than the lot of them.
Samantha Keir, East Brighton

Nourished by delays
At the age of 16, I regularly sat at the dinner table with my father. He would expound at length and in detail his thoughts on a plethora of issues of the day. I took it all in with little reason to doubt the “facts” he presented.

I still find myself in agreement with some of his opinions. But not most. Decades later, I am grateful for the time I spent playing ball and away from the polling booth.
Ken Feldman, Sandringham

Intervention needed
Victoria is seeing close to 5000 new COVID-19 cases a day, and the number of daily deaths has hit 20. Hospitals and ambulance services are overwhelmed, and still the government does nothing.
Of course, new hospitals and incentives to undertake nursing courses are great long-term solutions, but short-term intervention is needed.

It is not enough to pop out a couple of ads encouraging mask wearing, distancing and vaccination. Now the election is behind us, we need the Andrews government to again put health first, stop pretending this is over, and intervene to slow the spread.
Claire Merry, Wantirna

Let us test
Inflexible restrictions on eligibility for PCR tests to those with symptoms overlooks old peoples’ need for care by others. I am over 80, and can barely move due to arthritis. My grandson had offered to come help clean my home this week, between finishing school and starting a job, but then a mate with whom he spent the previous 48 hours, watching the World Cup, tested positive.

RATs of asymptomatic subjects cannot be trusted. After hours on the VicGov website and on the phone explaining my situation, my grandson was vouchsafed an appointment at his local clinic, only to be dismissed by the doctor parroting the inconsistent website spiel.

A sympathetic employee – too late – suggested a distant clinic, one of the few in Melbourne offering asymptomatic testing. Is it not enough that our government kicked its elders to the curb with the wholesale abolition of most COVID-19 mitigations?
Dale Kent, East Melbourne

Escalating alliance
The AUSMIN meeting being held in the United States should be of concern to all Australians. Mathew Knott (“US, Australia move to strengthen ‘unbreakable’ military alliance”, 7/12) reports an expectation to discuss ways to “expand Australia’s role in repairing and maintaining US military equipment and help Australia to secure long-range strike weapons”.

The 2021 AUSMIN discussions resulted in an increased presence of US military personnel in Northern Territory and elsewhere in Australia, In October, it was reported that works were under way at the Tindal air base to accommodate B-52 bombers under US command.

The alignment of Australia as a junior partner with the aspirations of the US for our region sets Australia up for a future from which there will be no plan B.
Roger Hannaker, Docklands

Pointless posture
Australia, it seems, is putting all of its money and diplomatic eggs in an “unbreakable” military alliance with the US in response to China and to defend the old world order. American, Australian and AUKUS sabre-rattling is futile, dangerous and distracting. It is futile because Australia’s military capabilities will always be dwarfed by that of China. It is dangerous because it exposes Australia as a potential second-tier target in a worst-case war scenario.

Above all, it is a distraction from the positive role that Australia could play to encourage the US to focus on creating a new and better world order with the Chinese and others that is more sustainable, democratic and inclusive rather than muscling up to try to defend the old and no longer fit-for-purpose world order.
Stewart Sweeney, Adelaide

It’s about time
Re “Mums tell of abuse during childbirth” (The Age, 6/12): As a retired midwife, I find this report unbelievable, and missing the element of time. Often, decisions need to be made quickly to prevent inadvertent outcomes. The most important concern is that mothers and their babies are safe and alive.
Maria Liew, Woodend

Rich rewards
So the AFL has determined that North Melbourne won’t play the Western Bulldogs on Good Friday this year. The problem with the Bulldogs was they kept winning the Good Friday games. Instead, let’s go with North Melbourne and Carlton, who already have blockbuster games (the Bulldogs have none). The rich get richer.
Scott McKenzie, Assisi, Italy

Switch it up
Your correspondent (Letters, 7/12) opens the proverbial can of worms about the need for more domestic solar. Saul Griffith (The Big Switch) advocates Australia install solar to the maximum that a rooftop can handle, selling to the community any power in excess of the owner’s needs – it being the cheapest, cleanest and most localised energy source. The first step is to set a feed-in tariff that triggers the revolution, not the pittance mandated currently.
Bruce Hawken, Glen Iris

And another thing

Politics
More than half of the Victorian cabinet are women as the ALP fielded more than 50 per cent female candidates in the recent election, thanks to Joan Kirner and EMILY’s List. Quotas work.
Linelle Gibson, Williamstown

Credit:Illustration: Matt Golding

Well said, Shaun Carney (Comment, 7/2), Anthony Albanese and Labor will only ever get one Scott Morrison card, and yes, it was played very smartly.
Sarath Goonawardhana, Chadstone

Shaun Carney opines that Labor will only get one Scott Morrison – but has he forgotten that they still have Peter Dutton up their sleeves?
Ian Maddison, Parkdale

Indonesian laws
An internationally organised boycott of Bali might force the Indonesian government to rethink its draconian new laws (“Concerns on sex outside marriage ban”, 7/12).
Tony Delaney, Warrnambool

Indonesia is being brave with its tourist economy by attempting to put the genie back in the bottle.
Joan Segrave, Healesville

Furthermore
At last, something has been made to stick to “Teflon Trump” or at least to the Trump Organisation – tax fraud (“Trump Organisation found guilty in tax dodging scheme”, 7/12).
Reg Murray, Glen Iris

Harry speaks of a “dirty game” against him and Meghan. My mother used to speak of “airing one’s dirty linen in public”.
Richard Opat, Elsternwick

Re “naive” 16 and 17-year-old voters (Letters, 7/12), I am 68 and my vote is still “wishful thinking” for a better world I hope to pass onto future generations.
Ruth Brown, Mentone

Anyone driving a car like the RBA is driving monetary policy, would be pulled over by the police and breathalysed (“Mortgage woes deepen as rates hit 10-year high”, 7/12).
Lawrie Bradly, Surrey Hills

I’ve decided I’m going to put a price cap on the fuel I buy. What are my chances?
Craig Tucker, Newport

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