people dont believe the price surge will last, page-25

Upside figure dependent on level of inflation we face. It is lunacy for the Reserve Bank bank to raise interest rates to keep inflation 2-3% with the level of inflation in the cost of depleting fossil fuels. Whilst oil appreciates, to keep inflation 2-3% need to deflate rest of economy ie destroy consumer via higher interest rates. Old economic models have to go out the window, my impression is mainstream economists do not get this. Aim should be gor inflation around 5%.