AusFinance

Can anyone explain what the nation's economic plan is? I know why individuals are champing at the bit for lower rates, but how does it benefit Australia? The low rates--free money for a special, protected class of citizens--has seen a ballooning of asset valuations. How does Australia benefit from having her citizens unable to afford basic commodities like shelter? It spills over into everything. I assume the goal is to have wages rise to match the asset inflation, but that's generous. That would be the sensible thing to do. But rates going nearly negative was not the sensible thing in the past, so good governance isn't a motivator in these decisions. What does Australia want? How will it get there?

As an aside: ditch the big banks and join a credit union. Make the financial sector more democratic. Participate and prosper together.