We have watched in horror since the election as the Property Council Government has set about a single-minded agenda to re-inflate the property bubble, which has included:
- driving for stimulus despite collapsing domestic demand to force interest rates lower;
- tax cuts and deposit insurance for principle to leverage;
- winding back Hayne Royal Commission changes at astonishing pace and co-opting APRA chairman Wayne Byers;
- force feeding mass immigration to pump prime demand.
In its own way, the Lunatic RBA has been resisting these pressures, insisting instead that the Government invest productively, sensibly enough. This week it refused to cut interest rates in part owing to a house price rebound.
