Scott Phillips

Investor. Business person. CIO @themotleyfoolau. Director @cityrecitalhall

I wrote a book! The One Page Investing Plan. Link below.

Opinions mine.

[Scott Phillips @TMFScottP]

Tweeting about a range of stuff - and not following an arbitrary 'party line' on anything - means I end up with followers who might be disappointed that I'm not a cheerleader for 'their team' (regardless of the topic).

So, thanks for following, but consider yourselves warned :)

[Scott Phillips @TMFScottP]

@RemingtonS49278 @1RossGittins What is he wrong about here?

[Scott Phillips @TMFScottP]

Some truth-bombs from @1RossGittins on the government's role dealing with inflation.

(And for those who dismiss Gittins as pro-Labor, a reminder that he's not.)

[Scott Phillips @TMFScottP]

@Battysgambit @strewthminister @1RossGittins Nice work.

What assumptions/inputs/data?

[Scott Phillips @TMFScottP]

@no1historychick @1RossGittins Gotcha, thanks.

I guess we have to compare that with improved (economic) living standards, since, though?

Overall, I suspect we're better off, though we've done an imperfect job of supporting those who've lost to progress.

[Scott Phillips @TMFScottP]

@scottjla It's getting closer!

[Scott Phillips @TMFScottP]

Something cool.

I just noticed ChatGPT suggesting a next step in its input box.

Very simple, but cool, improvement.

[Scott Phillips @TMFScottP]

@BruceJHenderson @DaVinciCapital @1RossGittins The *level* of government spending is irrelevant to inflation.

Otherwise the Nordic countries would always have stratospheric inflation and the US would always be tiny.

[Scott Phillips @TMFScottP]

@funfernickle Thanks mate!

[Scott Phillips @TMFScottP]

If you're interested, I've just made today's inflation data live at The Economic Picture.

You can explore basket weights and contributions, see inflation over time, and lots more!

https://t.co/tLijfUDcEo

[Scott Phillips @TMFScottP]

@contrary_owen @1RossGittins Except this one?

[Scott Phillips @TMFScottP]

@no1historychick @1RossGittins Interesting. What, in particular, do you reckon?

[Scott Phillips @TMFScottP]

@strewthminister @1RossGittins Dunno.

But the whole quantum isn't a waste unless we think people with disability should be left to their own devices.

Some, almost certainly, is.

And I'd change the entire structure.

[Scott Phillips @TMFScottP]

@russellwadey @1RossGittins By which I mean government stimulating while the RBA is trying to remove demand.

[Scott Phillips @TMFScottP]

@Bondiward Agreed.

Which is why government/s need to act.

[Scott Phillips @TMFScottP]

Inflation has risen again, according to today’s ABS figures.

Headline inflation reached 4.3% over the year to September, up from 4.0%. The monthly-series trimmed mean was 3.6%, up from a revised 3.5% in August.

1/4

[Scott Phillips @TMFScottP]

@OneTheRed @Duranozfan We don't.

We lower *aggregate* demand. But lowering fuel excise would just *shift* demand, not lower it.

[Scott Phillips @TMFScottP]

@thesheriff_9 It would be broader, but tougher on low(er) income earners.

[Scott Phillips @TMFScottP]

@Bondiward So you're suggesting poor people should just suck it up and cop 5% inflation on non-discretionary spending?

Because that's the impact of the government not being disciplined and realistic enough to find cuts.

[Scott Phillips @TMFScottP]

@AndyJay16634390 @1RossGittins I don't think that's likely. The dole is pretty tough going, especially with inflation this high.

[Scott Phillips @TMFScottP]

@Bondiward It's all here:

https://t.co/XSFOhzCpg3

[Scott Phillips @TMFScottP]

@russellwadey @1RossGittins It's not perfect, and when other things are at cross-purposes, it's harder.

But reding aggregate demand will put downward pressure on inflation.

[Scott Phillips @TMFScottP]

@AmarJasikaBTC (and thanks!)

[Scott Phillips @TMFScottP]

@AmarJasikaBTC I'm not familiar with the US one, tbh.

Depends what historical information we have.

[Scott Phillips @TMFScottP]

@Greatest_Fails That'd be a question for the government, not me.

We could do that. Or reduce government spending (Federal *and* State). Or both.