You’ve got to be kidding me, right? Right?! Didn’t they just turn bullish?!
Nah, this is serious – completely serious, though eastrordinary. Just when you thought he was acclimatising to the light of day and the fresh air, bloke’s dashed back into the Deflation Imaginarium, slammed the door and feverishly typed out another dispatch, oriented approximately 180 degrees from the last one.
DaVo’s opinions are wobbling and spinning like a compass needle sitting on the side of a mine road with heavily laden iron ore trucks passing by.
Nonetheless, he’s done the maths right:
(Early 2021 + 18 months) = 2022!
By refusing to tighten macroprudential policy now to slow house prices and push more of the RBA easing into a lower Australian dollar, APRA is setting us up for a pro-cyclical accident in 2022. How does that serve the cause of “financial stability”?https://www.macrobusiness.com.au/2021/03/corrupt-apra-sets-course-for-2022-economic-accident/
Such are the contradictions at the heart of Australia’s broken monetary regime.
I don’t know what to say. Maybe he is doing this on purpose, to give EZFKA some fun material to riff on? Maybe he’s misread the calendar and thought it’s 1 April already? Maybe it’s just clickbait, as housing gloom is about the only thing that tends to generate clicks?
anyone out there got a better theory?