We had a friend who travels extensively overseas,visit this week. He says that our housing prices and our bubble economy are the laughing stock of Asia.
I can't see how we have no inflation when the price of an average house has doubled in the last couple of years. If it takes twice as much money to buy the same item, then the purchasing power of our currency has collapsed.
This is rampant inflation.
And the Reserve Bank is supposed to control this. Not rig the figures and say it's not happening.
The parties over. The hangover will be long and painfull.
