What staggers me is that our economy thanks largely to the...

What staggers me is that our economy thanks largely to the resources boom of late has weathered the storm wonderfully thus far.

All the rhetoric - both sides of the equation on this site - has seen property hold up well. Today we may begin to see the change to all that based not on what has happened here, but in the USA. The NABs exposure was large - but what irks me the most is that these guys at the top are earning squillions to run these cos. Yet it is becoming apparent that they DON'T UNDERSTAND half the stuff they have bought. Have worked in these instos and we put so much faith in these fellas and the average bank johnny went there not by choice but because he / she was unemployable elsewhere - rises up the ranks and hey presto they define our lives.

RBA is no different - fancy seeing what is unfolding elsewhere and raising rates , then being able to wash their hands and say we only did what we were told. Inflation is not our main problem - demand has declined - it would have anyway you idiots - you just accelerated it all. Pity the genuine battlers as things are not looking rosy for them!