My question is - I'm seeing severe inflation here in Oz that is not being captured by the RBA. Labour costs for anything are outright lunacy - is Australia on the verge of hyperinflation where everything goes up - including wages? Either the sub average interest rates are responsible or there's excessive levels of quantitative easing that is not disclosed to the public. There is a big squeeze going on, there's many winners and some losers.
Will our dollar become of less value as the developing countries gain strength? Is it paying off our personal debt by stealth? I wouldn't be surprised if it is, especially as the majority of Australians are over leveraged into housing - removing the burden of debt via high inflation could be a winner for the party in power.
The RBA must act in good faith to maintain the honour and value in the Australian dollar.
