example of damage which rba can cause, page-23

The clowns at the reserve bank, following from america, have been pursuing an inflationist policy for a long time. The root cause of the current problems lie back in 2001 and 2002. Greenspan used to report to congress, his fears about "deflation" which was a problem that only he could see, apparently, there was never any real evidence of it. So interest rates were cut to ridiculous levels and you started to read about taxi drivers becoming multimillionaires and owning 50 houses in western sydney. Forward to 2004 and Greenspan started raising rates about 9 months too late - and well after Macfarlane raised them a little which was one of his few wise decisions ?
Why did this happen ? To finance the stoopid war apparently.