The $AUS is not a bubble it is a SkyWhale!

This comment was made at Macrobusiness  (link may be locked – but there is a free trial available)

It is becoming clear that the $AUS is not a bubble.

Clearly it is the Skywhale.

That multiple mammary floating bizarro ( it is growing on me) is the only explanation as to why the Fed Govt and the RBA have stood by like slack jawed yokels as the $AUS floated ever upwards.

Robyn Archer has a lot to answer for

…and this

Mav

“…Come on, it’s the perfect symbol for our political economy. One teat each for our political class, bureaucracy and the various vested interest business class….”

Mav, You are definitely onto something.

The plaque might read

“The Skywhale is a playful emblem of Canberra consisting of a large whale (looks like a fish head if you ask me) gliding over the landscape, full of ‘krill’ taxpayer dollars that it has gathered silently using its giant never satisfied mouth, to be dispensed to the well connected or political significant via a range of large teats”.

 

 

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