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Phil Lowe - the man who destroyed the economy, page-2

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DavoMagic

16,806 Posts.

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07/06/22

16:56

Post #: 61873367
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Originally posted by cutty: ↑

The fact that this man still heads the RBA is a disgrace. How can someone who orchestrated a debt fuelled boom of speculative junk, by lowering rates well beyond that which was necessary - still hold his position? And before the muppets quip with it was necessary to stave off recession during COVID - there is nothing to suggest the rate of cuts did anything but prop up the egregious housing bubble and spur on investments in profitless tech and crypto. The fact remains he went way too far, and now he is trying to claw it all back. Worst still, at a time when inflation is out of control and the cost of living is exploding. If he just for one second took his eyes off his ever increasing property portfolio, and actually concerned himself with the state of the economy - we wouldn't be marching towards recession. The fact every Australian will suffer for next decade because of the incompetence of one man, tells a bigger story of the ineptitude of the RBA.

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He went way to far before he started his term by with his predecessor to
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