rba drops rate by 1 per cent, page-22

Great, the armchair economists come out and tell us how good this is,forgive me for not cheering. Tell me this, what are they going to do to kick start the economy when times are really tough eh? I mean compared to the rest of the world look at our retail, export, services and employment sectors, nothing that warrants a 1.00% cut. Look at the U.S all they have left is stimulus / bailout packages to try and help them out they have no ammo in the IR gun, why follow them down the same path? If they think times are tough at the momment wait till the job cuts and major asset deflation hits the fan, Then those same “armchair economists” who demanded large rate cuts will be asking for even more.

It doesn't take guts to cut rates by large ammounts to please the masses, it takes guts to be fiscally responsible.

Shame on you RBA.