Aussie

The Australian economy sleepwalking into debt monetization

not great

Solidity Engineer | Researcher | Onchain Degen | DMs Open | https://github.com/0xCooki

yeah i really don't see anyone suggesting a path forward. no one wants to wrestle the elephant in the room which is the real estate market

This

How can they though? Like, even if I was made dictator of Australia the only real solution is to force a housing crash, a real one, not a 20% dip, a +70% correction to historically normal levels of avg income/mortgage. But if you do that, all the banks fail, all the retirees lose their nest eggs, etc. And so everything would collapse, which means you'd need to print a fuck load of money to bail folks out anyway.

They're trapped.

Something I've noticed which most don't seem to understand is that the Labour gov has essentially seized control of the RBA! Central banks were never really independent in the first place but in theory they're meant to be. Well now they're not even pretending anymore. This is what the early stages of debt monetization look like

it's all a fat joke

hot take: if we were able to have guns it wouldn't be like this

This

How can they though? Like, even if I was made dictator of Australia the only real solution is to force a housing crash, a real one, not a 20% dip, a +70% correction to historically normal levels of avg income/mortgage. But if you do that, all the banks fail, all the retirees lose their nest eggs, etc. And so everything would collapse, which means you'd need to print a fuck load of money to bail folks out anyway.

They're trapped.

Something I've noticed which most don't seem to understand is that the Labour gov has essentially seized control of the RBA! Central banks were never really independent in the first place but in theory they're meant to be. Well now they're not even pretending anymore. This is what the early stages of debt monetization look like

https://www.9news.com.au/national/reserve-bank-two-boards-appointments-treasurer-jim-chalmers/2a8a1a26-922c-4bee-97ee-a060ca595ed8