Out with the new and in with the newer at the Lunatic RBA. Somebody has to be sacked.
The Lunatic RBA has starved the pig for market day. There is no excuse for it. It’s been obvious for six months that inflation is beaten, yet it refused to budge.
Now, we have a private-sector economy on its knees, entering the largest shock since the Global Financial Crisis.
It’s not like we didn’t know it was coming. Tariff Man told us again and again. MB has been warning of it for a year.
But the Lunatic RBA knows no other way.
It has chosen to lie about the nature of the mass immigration-led labour market expansion economic model.
Constantly whining about the symptoms of capital shallowing, collapsing productivity while telling us all that a wages breakout is imminent into the teeth of a permanent and massive Third World cheap foreign labour supply shock.
This brainwashing always leads the bank into the same stupid corner of being too tight for too long, meaning we end up with lower rates for longer, which are dead ahead.
In a few decades, if there are any history books left not written by the Chinese Communist Party or Trump’s minions, this period of monetary stewardship by the Lunatic RBA is going to headline the chapter labelled “The rise and rise of central bank corruption”.
