RBA bullhawks crash land

Friday 21 March 2025

RBA reform has failed. The only reason it was initiated was the central bank’s total failure to forecast the sun coming up for a decade.

As I have argued many times, the primary reason for the failure is the self-inflicted fatwa against mentioning immigration.

This is central to the perpetuation of the intrinsically corrupt immigration-led labour market expansion economic model.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.