gold, page-81437

The politicians might be idiots, but I don't see anyone marching in the streets to change the way things are.

The US runs our antipodean nations. After 9/11 and the Dotcom Bubble bursting Alan Greenspan at The Fed slashed interest rates to 1%, IMO sowing the seeds for the later GFC.
Yet we must have been doing things differently here because in NZ the Reserve Bank had plenty of room to cut rates when the GFC came along.

The issue is the 'lost and lazy' decade between the end of the GFC and the start of the next global crisis. Interest rates have stayed low to prop up bubbles. A total disgrace that it happened. And the populace - looked in their tribal political bubbles - have stood by while the 'US disease' of QE and interest rate suppression has been adopted without a whimper or a murmur of protest.

We know the policy of pursuing QE is a total disaster because there is no way to unwind the balance sheet once you go down that round. The Fed tried in 2018 and the US stock market immediately started tanking. Why have we willingly taken on this poison even when we know there is no exit once you start? We are supposed to care about the environment and furture generations, and we yet we stand-by and watch the wholesale looting and destruction of our financial system. What is left when it collapses except anarchy and a bloody takeover by the forces of the Left.