Weeoo, weeoo, weeoo.
Well, it’s confirmed now, interest rates aren’t going to get anywhere near 4% in this cycle. The Pascometer today quotes Shane Oliver to argue that that’s where they’re headed:
As you watch you may wish to recall Shane Oliver’s strange bubble two-step. In 2011, we had the same dance, with Dr Oliver describing a bubble beautifully yet unable to use the term. In 2008, Dr Oliver reckoned it was a bubble, and the valuation is much the same today.
When rates hit 3% and it starts to come apart it will no doubt be a bubble again!
But enough truth. Let’s just be grateful that Australia’s prime contrary counter-contrarian signal generator is intact. I was becoming concerned that its frail circuits had shorted-out on some bilious power surge.
Weeoo, weeoo, weeoo.
