Who is fixing their interest rate?, page-76

That's my point ..... everyone else is coming out of the greatest financial crisis the world has ever seen .... except us. We are going backwards.

We went into the GFC with a strong surplus thanks to Costello/Howard, backed by a mining boom riding the emergence of China as a financial super power, and with interest rates that had plenty of wiggle room to pull the lever should the RBA need it. Those three factors alone got us through it.

We no longer have any of that to rely on and whilst the rest of the developed economies power on we are now lagging behind. I have said it on here before, we never had our GFC, its yet to come and increasingly the numbers coming through reaffirm that view.

As for gold, I have played the low cost miners on and off for years and can't believe how easy it is to make money there trading sentiment alone.

End of the day, low interest rates are like powerful painkillers ..... just be careful you don't get addicted to it because its hard to get off it.