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Chris Joye was calling for more interest rate rises only recently while simualtaneously arguing that residential property had good growth prospects. Now he's arguing that property will also be a relative winner if lower interest rates are brought on by an economic downturn. You'd almost think...

If you're dreaming about rate cuts you're not seeing the forest for the trees. If Europe falls over it will take a lot more than a rate cut to save the housing market.

I mean if the mining industry is sucking up labour and pushing up wages (and therefore putting upward pressure on wages) the RBA can't afford to have the retail sector and the property also putting upward pressure on inflation. Of course most of the 80000 won't find work in the mining...

Even if that's true or not raising interest rates does put retail workers and real estate agents out of a job which leaves more room for the mining boom to continue without pushing up inflation too much.

The Government did try to help the RBA out with the RSPT and look where that got them. Boganomics won that round.

The RBA has been pretty explicit that it's quite happy to see retail and the property industry contract to make way for mining. If you are a real estate agent or work in retail things aren't going to get better any time soon: RESERVE Bank boss Glenn Stevens has issued a chilling...

Yeah those dimwits clearly should hire you to run monetary policy. There's actually a large literature on how central banks have less impact then they used to due to globalisation etc. I'm sure the RBA boffins are well aware of it. After all they talk about it with regards to the banks...