Andybroady-yes, you are right, - but for me having the sheer...

Andybroady-yes, you are right, - but for me having the sheer luck of having some of the best economics lecturers Australia has had- the problem is in the formal rules the government has laid down (Howard?) for the RBA. The RBA's sole brief is to combat inflation. Not to take any notice of social damage from crippling interest rates- eg dont have the extra child by more able parents, etc. trade damage from an overblown currency, balance of payments distortion from sucking in imports and crippling exporters (who we sorely need) - no, just inflation. And what causes inflation? Too much money creation by guess who, as well as exterior causes such as the oil price, money growth way ahead of the real growth in the economy. Starting to think both the political parties and half baked economists of the RBA should be exported to Argentina or Zimbabwe. They would be better than what both hellholes have, but they are just too silly for Australia.