We’re F*cked

November 4, 2008 — 5 Comments

So on Melbourne Cup day, the Reserve Bank of Australia cut interest rates by 75 basis points, or 0.75%, on top of the 100 basis points, or 1% cut last month.

We’re f*cked. Nearly 2% in 2 months….nothing I can remember in my life time. Massive economic stimulus attempt that could have only been based on figures that showed Ausrtalia sliding to a halt, or going backwards. It was nice to grow up through a recession, then beyond that. Gen Y and Z, welcome to my youth!!!!!!! 😉