I just want to add that the economic malaise Oz is facing isn't unique in the general scheme of things.
The whole world bar China has very weak GDP growth and even China cannot sustain an increase in their numbers although the current numbers would be considered a massive BOOM in the developed economies! The debate/discussions about how do we in the Capitalist system comes out of this low bond yield environment for perhaps a decade. We can only look at the inventors of 'money printing' QE through the eyes of the Japanese. Zombie economy neither collapsing nor growing and Govt participation in the bond market/stockmarket to give it a "helping hand".
A goldbug will tell you that it is a matter of time US with their equally zombie economy looking through bond yields will follow suit or go into meltdown. You are either a believer of classic, Keynesian or MMT economics for the day. Sustainable debt regardless of the size or a breaking point and it all falls apart. I tend to see it as the the former as we continue to provide cheap money going nowhere before they need to invent new tools to fight deflation. Helicopter money was utilized by KRUDD and it worked! Maybe this is where we are heading but who is running a budget surplus or has a surplus? Catch 22 this time?
