What worries me TCI, is that in life, if you have a close look, there is a price to any indulgence.
Too much of these and you will lose:
Smoking - your health and maybe your life
Drinking - maybe the same, loss of family
Gambling - Loss of your money, wife, kids, self respect
Eating - Health, maybe die 20 years earlier
Working - Workaholics can cause marriage breakdowns etc, cause problems for your children
Being unfaithful - Lose your wife and kids and the house etc
Recreational Drugs - health, death, family etc
All accompanied by misery, depression, unhappiness, suicidal thoughts or actual suicide.
Some of these in moderation are just fine. But binge, gorge, overuse, too much and you have a problem.
There has been a credit orgy of large proportions, not just in Australia. It continues to some extent. Half the work is paying for theirs now.
The rules of life do not mean Australia will escape. We are not in Nirvana, we are on the same planet as the USA, the UK, Europe etc. The mess might just be delayed a bit here and it must come.
For this reason I see no reason why interest rates could go up instead of down as you predict. Why is that? Because we are not in Nirvana.
