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Ryan Bridge: Don't expect a lolly scramble from the Government · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Anyone expecting a lolly scramble from the government today is
• 0:03
  Speaker 1: going to be disappointed. At best, you might get one
• 0:06
  Speaker 1: or two Old Worther's originals, and they don't taste very nice.
• 0:10
  Speaker 1: As we've been talking about for the last few weeks,
• 0:12
  Speaker 1: this government can't politically splash cash when oils forcing inflation up.
• 0:18
  Speaker 1: The sixty billion borrowed and spent during the pandemic, half
• 0:22
  Speaker 1: by the way, not actually on COVID expenses, was fuel
• 0:25
  Speaker 1: on the fire to an already raging inflation inferno. The
• 0:29
  Speaker 1: Reserve Bank and government were both blowing into the same sale.
• 0:33
  Speaker 1: That was the problem. It got us up on the
• 0:34
  Speaker 1: foils for a while, ultimately just delayed the pain when
• 0:38
  Speaker 1: now still feeling. The new governor, import from Sweden, will
• 0:42
  Speaker 1: give a key speech later today, published online after markets
• 0:45
  Speaker 1: open nine am, with a hint of how they'll react
• 0:48
  Speaker 1: to the latest international catastrophe that's come to reach our shores.
• 0:52
  Speaker 1: Any width of central government planning to borrow and spend
• 0:57
  Speaker 1: to cushion the blow would complicate her job quite markedly.
• 1:01
  Speaker 1: The reality is, when the shite hits the fan, things
• 1:04
  Speaker 1: get messy. Somebody has to pay. There is no free ride,
• 1:08
  Speaker 1: no free bus, no free train, no free lunch. If
• 1:11
  Speaker 1: we don't pay today, we will pay tomorrow. And let's
• 1:15
  Speaker 1: not forget we're now officially on notice from at least
• 1:18
  Speaker 1: one of the big rating agencies. We need to be cutting,
• 1:22
  Speaker 1: not borrowing more, balancing the books, not setting them on
• 1:26
  Speaker 1: fire again. For more from Early Edition with Ryan Bridge,
• 1:31
  Speaker 1: listen live to News Talks at B from five am weekdays,
• 1:34
  Speaker 1: or follow the podcast on iHeartRadio.