rba should put a sock in its mouth, page-49

Collectively, we live well beyond our means....it's that simple.

We spend too much, and we save too little.

Per capita our debt somewhat resembles that of the yanks.

It's only a matter, and has only ever been a matter, of time, before the chickens come home to roost.

Raising interest rates is but one simple method to cut spending on our extravagant lifelstyles....I am all for it, and much more needs to be done.

It certainly wouldn't hurt to increase tariffs and taxes on non-essential imported luxury items, such as plasma TV's and the like, keeping our money right here, and if people are smart enough, in their own pockets.

Australia, the lucky country???

It still is....but far less than it once was.

In time, the huge gulf between our lavish lifestyles and the lifestyles that most of the world endure, will narrow.

I would suggest that people starting becoming accustomed to it.