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clock Created with Sketch. 15/11/20
09:31
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Originally posted by dolcevita:
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Government response is very difficult to predict. That's why Keen got it so wrong. He didn't think the RBA would continually bail out the property market, but it did. That's meant to be arm's length from government but basically government let the RBA stimulate with interest rates cuts even though the RBA itself was pleading with the government to use fiscal policy. So here we are.
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Yep it is difficult to predict but we can look at how govts have responded to other crises for guidance. To assume no response makes the preduction useless
