‘Government action’? Hah! There is nothing the government can do. This is bigger than any government. We have been building up to this race to the bottom for a long, long time. I think that is fear I see in the eyes of the Reserve Bank governor.
Australia joins the rest of the Western world by stepping down onto one of the few remaining rungs on the economic ladder. The ladder which reaches nowhere, but stands suspended, presumably from sky hooks, an unknown distance above the dark abyss of chaos.
The phantasm of the glimmer of additional rungs labelled ‘negative interest’ below the final rung, is merely chimerical, and will crumble beneath our feet if we ever step down onto them – which appears to be somewhat inevitable.
Don’t look down. Whatever you do, don’t look down.
The bony fingers on the scrawny hands of ‘The End Of Life As We Know It’ are beckoning us as, with sweat laced brows, we see no other way out but to hover for as long as we can at the end of the ladder.