Australia’s very own Delphic Oracle

The new chief of the Reserve bank of Australia, Glenn Stevens, taking a leaf out of Alan Greenspan’s habits, seems to be setting himself up as Australias’ Delphic Oracle. His latest pronouncement was on housing loans.

Nothing wrong in his statements:

States’ Governments have forced house prices up.

States’ Governments are contracting debt of high magnitudes.

Both comments, however, were delivered in relation to housing prices and, interest rates.

I would have said, he was economical with the truth, but a pal mused, “he can’t be accused of that because he’s just another ignoramus who believes he ‘knows’ about money”.

For while what the States’ Governments are culpable of, taken to perfection in Brackistaniland, is disgusting, nothing less than extortion, that doesn’t explain all that is a deep pronblem about consumption of housing: Debt.

Pundits paid small fortunes to ‘anaylse’ economic affairs in the mainstream media have been banging on about the $9billlion consumer debt, the banks exposure to what could show out, most of it is bad debt, but, as Stevens and his predecessor Ian Macfarlane, can’t explain why. If both Macfarlane and the new Oz oracle could, the first thing they would do is order an end to fiat money and then oversee the slaughter of the RBA.

Coerced high pricing of housing by commie politicians doesn’t explain the mounting credit card funding of consumption. The RBA forging money hand over fist does.

Bank balances are sinking deeper into the red. It is due to forger’s money and the RBA, instead of printing more of the crap paper, is hard at it still forging more.

The threat to the banks, or rather consumer’s of all types, businesses, and not just spenders on consumer goods, has been all along funny money, the stuff the RBA ships out through fractional bankers by the truck loads.

Brookesnews has been yelling this out for years. The Coalition, with over 6 years in office, more than enough time to take good advice and convince the public of sound economic principles, has sat in office self-satisfied, trusting Costello, Macfarlane, and Stevens are literate in economics. Now, many things are blowing up in their faces:

-consumer debt

-Recession, and manufacturing is, after a brief spike in employment in July, contracting, and contraction is turning exponential. Come August, when the next report on manufacturing is due, Costello might hide, and the rest of the Cabinet drink some fortified stuff, for it will make for nasty reading. To put it into perspective, it has been trending for a couple of years now; it is just that it is now spiralling down.

More-over, it’s not the RBA which will wear the ire of the public, it will be the Cabinet. Stevens is already ensuring the shit will fly not to where it belongs, but onto the Cabinet.That is precisely the real force of his Delphic declarations.

As with so many superannuants who stuff the parties and the ‘public service’, Stevens sneers at the real taxpaying vassal serfs of Australia and consumers generally: ” they’ll just have to go without other things” is Stevens’ pronouncement.  That’s right, Stevens, many Australians will have to go without many things, including jobs, not just because of tax and squander politicians but also money forging criminals of the RBA.

Federal Liberal Party M.P.s should pay attention to the editor of the Brookesnews and stiff Costello with some hard questions, and thus find out what a spiffingly good Treasurer he is. Actually, a fish out of water would cope just as well.


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