I don't think we are far away from that.
The RBA governor can't be seen to be negative but people like him live in ivory towers anyway so I doubt they have much of an idea. Can't seem him getting all depressed about his power bill when it arrives.
I think the first rate rise will not surprise people but spook them at the same time. As Alan Kolar said last night, the worst affected will be retailers as people further close their wallets to pay down debts.
The only money I spend these days is to save money (solar, downgrade from a 6 to 4cyl car etc)
Business are doing ok...they just don't want to part with their money for the workers.
