How Australia squandered the mining boom, page-19

rubbish...govt sets the policy that the montary policy is based.

The rba and treasury only do what they need to follow policy set by the govt .



Also how many of us went Overseas on holidays during that period becasue it was so cheap to travel OS compared to holiday in Australia.So as a result we spent all our money OS instead of here.

The boom in internet sales also meant many bought goods online because of the favourable exchange rate and no GST things were cheap in comparison.Again outflow of $ from aust businesses.

Just dumb policies .