Can someone explain to me how someone with supposed expertise in World Financial Markets and Management, being paid over one million dollars per annum, who informed the Australian public that interest rates would not rise until at least 2024 and has since hiked them several times with more to come, still has a job?
Wouldn't you think when he was asked about the possibility of a cash rate rise he would have had the nous to just give a non committal answer and say something along the lines of "it's all up to the markets blah blah" instead of telling the public that they would remain historically low?
What do these people have to do to get the boot?
Leave the politics out or it will soon be shut down.
rgren2 said
07:40 PM Feb 9, 2023
DMaxer wrote:
Can someone explain to me how someone with supposed expertise in World Financial Markets and Management, being paid over one million dollars per annum, who informed the Australian public that interest rates would not rise until at least 2024 and has since hiked them several times with more to come, still has a job?
Wouldn't you think when he was asked about the possibility of a cash rate rise he would have had the nous to just give a non committal answer and say something along the lines of "it's all up to the markets blah blah" instead of telling the public that they would remain historically low?
What do these people have to do to get the boot?
Leave the politics out or it will soon be shut down.
In a previous life I worked for a very large company. The people in management who made the biggest stuff-ups got the biggest promotions.
It's a house of cards, you just need to know when to get out in time. That company no longer exists in Australia.
Unfortunately I missed out on worthwhile promotions, I didn't make any epic stuff-ups!
Noted person will be on >$2m next year.
STRETCH ARMSTRONG said
10:37 PM Feb 9, 2023
To make mistakes is just being human.
dorian said
04:49 AM Feb 10, 2023
Economics is a single-digit "science".
Someone once said, if you line up all the world's economists, arms outstretched, you still wouldn't have enough to reach a conclusion. I think it was my economics teacher who said that there was an economics professor who set the same exam every year, but every year the answers were different.
-- Edited by dorian on Friday 10th of February 2023 06:04:43 AM
smwhiskey said
08:48 AM Feb 10, 2023
DMaxer wrote:
Can someone explain to me how someone with supposed expertise in World Financial Markets and Management, being paid over one million dollars per annum, who informed the Australian public that interest rates would not rise until at least 2024 and has since hiked them several times with more to come, still has a job?
Lets be brutally honest here. He's not on his Pat Malone when it comes to predicting the financial future and getting it seriously wrong. Even with absolutely no Financial market expertise and a distinct lack of psychic ability, I'd suggest that my predictions around the share market, interest rates and housing prices have been as accurate as anybody elses.
In my opinion, Its not his job to predict the future, its his job to make sure there is a future. Something that would be a hell of a lot easier if there wasn't numptys like Karl Steffonovic looking for ratings by pretending to be the champion of the people
Simon
Aussie1 said
09:33 AM Feb 10, 2023
Who is Karl Steffonovic? Is he so important that I should be aware of him?
Nevd said
09:47 AM Feb 10, 2023
Did you hear about the successful economist? Predicted 8 of the last 2 recessions!
smwhiskey said
10:44 AM Feb 10, 2023
Aussie1 wrote:
Who is Karl Steffonovic? Is he so important that I should be aware of him?
He thinks so.
Cuppa said
11:15 AM Feb 10, 2023
dorian wrote:
Economics is a single-digit "science". -----------------------------------------------
Mini rant follows: A science? Hmmmm. Whether a science, art or something else it has probably become the most significant thing which impacts our lives over my lifetime. Economists are the interpreters & voices of The Economy, that thing which today is God. They like to call economics a science to give it some legitimacy. Economics seems more akin to a religion to me.Economists have become the high priests of modern capitalism - that thing where success equates to growth, which brings profits to a minority in our finite world. Like all religions faith & belief are prominent as is proselytising. Economics on the whole is blind to many factors which inevitably affect the markets it claims to understand, particularly anything which cannot fit into economic models of life. Things such as happiness, contentment & compassion, belonging etc. Arguably the most important things in our lives are assigned no value by economics, & yet economics has a place of supreme importance. It is of little surprise therefore that the natural world around us continues to be degraded whilst the acolytes of The Economy continue to preach it's importance. This has become so ingrained in western cultures that it is difficult to see the world from any other perspective. It's why extinctions across the entire natural world continue to accelerate, & natural things which are viewed only as economic resources continue to dwindle at the expense of us all. We all have our faith placed in this 'religion' masquerading as a science which is effectively only there to support our ongoing destruction in the name of profits for a few. It's all powerful nature has left us with no alternatives. Economics -pah! Mini rant ends.
-- Edited by Cuppa on Friday 10th of February 2023 11:28:13 AM
86GTS said
11:37 AM Feb 10, 2023
Aussie1 wrote:
Who is Karl Steffonovic? Is he so important that I should be aware of him?
One of Australia's leading authorities on how to make a total goose of yourself.
Apparently mates with Michael Clark who seems intent on pursuing the same pathway.
Aussie1 said
12:46 PM Feb 10, 2023
86GTS wrote:
Aussie1 wrote:
Who is Karl Steffonovic? Is he so important that I should be aware of him?
One of Australia's leading authorities on how to make a total goose of yourself.
Apparently mates with Michael Clark who seems intent on pursuing the same pathway.
Your doing my head in by just adding another name of someone I am totally unaware of
Cuppa said
01:36 PM Feb 10, 2023
Aussie1 wrote:
86GTS wrote:
Aussie1 wrote:
Who is Karl Steffonovic? Is he so important that I should be aware of him?
One of Australia's leading authorities on how to make a total goose of yourself.
Apparently mates with Michael Clark who seems intent on pursuing the same pathway.
Your doing my head in by just adding another name of someone I am totally unaware of
I have no idea who either of them are either.
smwhiskey said
03:09 PM Feb 10, 2023
Cuppa wrote:
I have no idea who either of them are either.
Something for which you should be eternally grateful for
peter67 said
10:55 AM Feb 11, 2023
86GTS wrote:
Aussie1 wrote:
Who is Karl Steffonovic? Is he so important that I should be aware of him?
One of Australia's leading authorities on how to make a total goose of yourself.
Apparently mates with Michael Clark who seems intent on pursuing the same pathway.
Can someone explain to me how someone with supposed expertise in World Financial Markets and Management, being paid over one million dollars per annum, who informed the Australian public that interest rates would not rise until at least 2024 and has since hiked them several times with more to come, still has a job?
Wouldn't you think when he was asked about the possibility of a cash rate rise he would have had the nous to just give a non committal answer and say something along the lines of "it's all up to the markets blah blah" instead of telling the public that they would remain historically low?
What do these people have to do to get the boot?
Leave the politics out or it will soon be shut down.
In a previous life I worked for a very large company. The people in management who made the biggest stuff-ups got the biggest promotions.
It's a house of cards, you just need to know when to get out in time. That company no longer exists in Australia.
Unfortunately I missed out on worthwhile promotions, I didn't make any epic stuff-ups!
Noted person will be on >$2m next year.
Economics is a single-digit "science".
Someone once said, if you line up all the world's economists, arms outstretched, you still wouldn't have enough to reach a conclusion. I think it was my economics teacher who said that there was an economics professor who set the same exam every year, but every year the answers were different.
-- Edited by dorian on Friday 10th of February 2023 06:04:43 AM
Lets be brutally honest here. He's not on his Pat Malone when it comes to predicting the financial future and getting it seriously wrong. Even with absolutely no Financial market expertise and a distinct lack of psychic ability, I'd suggest that my predictions around the share market, interest rates and housing prices have been as accurate as anybody elses.
In my opinion, Its not his job to predict the future, its his job to make sure there is a future. Something that would be a hell of a lot easier if there wasn't numptys like Karl Steffonovic looking for ratings by pretending to be the champion of the people
Simon
He thinks so.
Mini rant follows: A science? Hmmmm. Whether a science, art or something else it has probably become the most significant thing which impacts our lives over my lifetime. Economists are the interpreters & voices of The Economy, that thing which today is God. They like to call economics a science to give it some legitimacy. Economics seems more akin to a religion to me.Economists have become the high priests of modern capitalism - that thing where success equates to growth, which brings profits to a minority in our finite world. Like all religions faith & belief are prominent as is proselytising. Economics on the whole is blind to many factors which inevitably affect the markets it claims to understand, particularly anything which cannot fit into economic models of life. Things such as happiness, contentment & compassion, belonging etc. Arguably the most important things in our lives are assigned no value by economics, & yet economics has a place of supreme importance. It is of little surprise therefore that the natural world around us continues to be degraded whilst the acolytes of The Economy continue to preach it's importance. This has become so ingrained in western cultures that it is difficult to see the world from any other perspective. It's why extinctions across the entire natural world continue to accelerate, & natural things which are viewed only as economic resources continue to dwindle at the expense of us all. We all have our faith placed in this 'religion' masquerading as a science which is effectively only there to support our ongoing destruction in the name of profits for a few. It's all powerful nature has left us with no alternatives. Economics -pah! Mini rant ends.
-- Edited by Cuppa on Friday 10th of February 2023 11:28:13 AM
One of Australia's leading authorities on how to make a total goose of yourself.
Apparently mates with Michael Clark who seems intent on pursuing the same pathway.
Your doing my head in by just adding another name of someone I am totally unaware of
I have no idea who either of them are either.
Something for which you should be eternally grateful for
Spot on mate.