God is supposed to be all knowing and mere humans are required to religious houses of worship in order to obtain wisdom. In today’s episode, Adams is committing blasphemy by exposing that Australia’s living God – the RBA Governor Phillip Lowe – has little idea as to what he is doing.
In the past 2 weeks, Adams has gone to the monetary house of worship, the RBA and asked them a range of detailed questions as to determine what extent do they understand the impact of their monetary policy decisions on Australian households – especially in a situation that we have the largest hyper debt bubble in Australian history.
Unfortunately, in their most recent email, the RBA has expressed dissatisfaction at the number of questions I am posing! They obviously don’t like scrutiny.
What Adams has picked up from the email correspondence is that the RBA does not have a good real-time gage over disaggregated household cash position and thus, in the view of Adams, they are largely flying blind as to the real position of households and what the impact of monetary policy will be.
This is critical to know if you are basing your financial decisions on the statements of the RBA.
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