IMO if the RBA does not lift interest rates soon, then the property bubble will over-inflate & burst and we'll have another 1989-92 recession with a 6 year recovery period afterwards.(virtually a lost decade)
And will Iron Ore exports or Coal exports to China save us. IMO no. If the housing bubble bursts, then our big 4 Banks are in more strife than Ned Kelly and with $1.5 Trillion of combined Governments debt we have nothing in the reserve tank with which to prop up the banks.
