A 25bp rate cut by the RBA has INSTANTLY put a stop to recessionary fears and GDP came in more than twice as expected. Well, I can say that according to what I am reading on this thread that it is presumed that Glenn Stevens is our saviour and the exponential rise in property prices WILL resume SHORTLY..... High fives all round. Yeah Baby! That’s what I am taking about! You are the MAAAN! Now let’s take a deep breath and enjoy our KOOL AID.
Now that we are all calm and refreshed, can I quietly ‘whisper’ that Europe is in recession, Moody's cut German Bank rating as the likelihood of Spain leaving the Eurozone has increased (thus defaulting on their loans), near 0% interest rates haven’t helped our friends in USA, UK (including Ireland) or Japan and China’s economy is slowing.
Ahhhh. It’s time to have another Kool Aid! She’ll be right Maaaaate!
