"In reality CBs gloves aren't really off as economies slow and although we are the economic pinup boy the RBA is keeping its ammo dry knowing that fiscal policy is coming to the end of its tether. "
How can Oz be the economic pin up boy with the largest personal debt on planet earth????
I've got the biggest credit card debt - so, I win???????
huh?
oh, wait - we are talking about CB's and government
like it's completely divorced from the actual reality of people????????
"One more economic, financial or geopolitical shock could have a dramatic effect, destabilising major economic equilibrium as fear replaces despair."
it isn't actually the shocks that are the concern IMO --
it's actually the unrelenting, unstoppable constant and growing pressure of change
automation, computerisation, AI, casualisation, women working (yes, women working), the home (or other houses) being the place where the financial world of people revolves around,
these things all have pressure - and, they are huge pressures - they develop over time - in our attention span - long times
my guess is that the effects have been really building from about 1960 ish -
that's only 60 years ago - but, it's been accelerating lately so much that it's more visible
that was when we had the end of part of the post WW2 boom and also when the pill was invented - entire human body shapes changed - bit of a give away.
The 70's brought inflation - and that brought run away housing - that was 50 years ago -------------- half a century - might be a psychological figure we don't realise
IMO ------------ it's the ground that's shifted that we don't understand - we are standing on it - and, it seems like the same old ground
it isn't
it's why economic triggers and levers aren't working now like they used to - they are close to if not ineffective now - and, they will be totally ineffective in years to come
the evidence is all around us if we care to look
massive underemployment and unemployment - might be called by different names - but, it's real
homelessness - to large and a gathering scale
DEBT ----------- there's just no way to say 'world's largest personal debt' - without an audible gasp ----------------- that's a HUGE deal
we live in the evidence ---------------------- economy (whatever it is) - has changed --------- and, we - haven't changed with it - we still think it's 1950
