There is nothing a central banker likes more than to waste money while forcing everybody else into austerity.
The cost of renovating the RBA’s asbestos-ridden head office in Sydney’s Martin Place has risen to $1.2 billion, prompting the newly installed governance board to consider selling the building and walking away from the troubled project.
The Australian Financial Review first revealed in June 2023 that the $260 million renovation of the 22-storey, international-style office building had blown out to $500 million due to the discovery of significant quantities of asbestos, four times worse than a typical building of its age.
I am sorry. The asbestos excuse is about as convincing as RBA forecasting. Did nobody look at the walls and ceilings and say, “hey, that’s made of asbestos”?
This is just another round of arse-covering for the world’s most corrupt central bank.
Who can forget its efforts to bribe central banks of the world to use its banknotes? Or, the Supreme Court injunction that prevented the media from discussing it or mentioning the injunction!
While we’re on topic, why are we paying $500 million a year for a loser institution that does nothing?
Since the arrival of Ditherer Bullock, the bank has abandoned forward-looking policy, which is its only reason for being.
A spreadsheet can do monetary policy in the rearview mirror.
Why are we paying $1 million-plus for a failed governor?
For that matter, what kind of sagging sack of graft cancels the use of the word “immigration” when it is the only input into its modelling that matters?
The RBA and its building should be razed, and in its place should be erected a 22-story obsidian phallus.
Give the money to the poor.
