LNP Grills Bullock, page-84

don't worry, the RBA were telling the LNP, warning the LNP for years about the reliance on monetary policy to stimulate the economy while the LNP literally sat on their hands refusing to fiscally stimulate

the LNP always has the same question to the RBA

'we needs jobs, we need growth, what are going to do about that Phil?

Phil warned them about asset inflation as a result of excessive easing

well we got our asset inflation and now we've got an economy so brittle and so unproductive so exposed to property and land value that the RBA is literally an almost irrelevant organisation because the levers it can pull have absolutely no effect on the assets / cost inputs / price makers that drive price inflation

exit Philip Lowe, enter Ms Bullock

the only thing that tightening monetary policy is guaranteed to do is pile on the misery for Australia's lower middle

and from the text of her remarks the pain for ordinary Australians is only going to get worse

Philip Lowe was dead right all along.. everything he predicted has come to pass and the consequences are there for all to see