Great find Zac, thanks for sharing.In the context of the current...

Great find Zac, thanks for sharing.

In the context of the current discussion the recession analysis is very well reasoned & positive.

In the context of the interest rate debate, I had a mortgage at the start of the graph. That was when we had problems, the interest rates now are still small in historical context!

That said, the Reserve Bank governor deserves a full size 15 up his backside as he crashes out the door never to return.

What mainly gets me about the RB policy, which follows economic theory, is that it is based on a US strategy. In the US mortgages are fixed so the rising interest rates effect business not mortgage holders. Not here is OZ where the weight of the rise falls directly on the mortgage holder, a very tough way of correcting a problem which they had nothing to do with.