up friday??, page-109

Just viewed that video, RegularASX. Was it done some time last year? Really wish web sites would put dates on their information.

I agree with Bennett's point that Australia does have an aversion for low interest rates.

Probably, I guess, as a result of the 1970's when it really got out of hand. I still remember the heated arguments about what caused it: demand-pull? Vietnam war? These were bandied about then.

Australia's obsession to avoid high inflation, mainly by increasing interest rates, does lead to destructive overkill in my view.

The recession we had to have in the early 1990's--- sending companies to the wall because they could not meet ever increasing and riduculously high interest repayments designed to cool an overheated economy.

Perhaps it's a cultural thing we should come to grips with.

After all, we did abolish the definition of full employment as one per cent unemployment. Now we are happy to have it institutionalised as around 4-5 per cent.

Why not interest rates around the same level?