This comment was made this week at http://www.macrobusiness.com.au (link may be locked)
The half life of the current extend and pretend policies;
Bait rates to ZIRP and NIRP
is being shortened daily by the ongoing LNP Clown Show that seems designed to penetrate the skulls of even the most oblivious and deliver a message
“OMG – they don’t know what they are doing”
Normally one might hope in a time of national need, that the opposition would creep out from their small rock and enjoyment of the show and lead the country from opposition, but recent public statements by many senior ALP pollies suggest they are an ideas free zone as well as to how to managed the end of household debt and mining boom.
What happens next – soon or soonish?
Take your pick
1. Debt deflation recession with the banks and FIRE vultures acquiring assets at knock down prices.
2. Frankenstein Banker friendly QE for Wall Street where the vultures acquire assets at knock down prices.
3. QE for the people as part of a controlled burn of debt accounting entries and extracting the banking system from money creation process
No 3 is very long odds.