Lunatic RBA spins jobs hopium

Chief Lunatic, Philip Lowe, says he is in full agreement with Treasurer Josh Frydenberg’s view that the Australian economy remains sound. Lowe and Frydenberg met for two hours in Melbourne on 11 July. Lowe said after the meeting that it was a “remarkable achievement” that more Australians have a job now than at any previous time in the country’s history. From The Australian:

Reserve Bank governor Philip Lowe has delivered a sweeping endorsement of the federal government’s economic plan, declaring the economy is growing and the fundamentals “are strong… more Australians have jobs today than ever before in Australian history. That’s a remarkable achievement”.

Yeah, the economy is so strong that the RBA has been forced to slash rates to record lows, with more to come.

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