by Boo_Randy
Central bank engineered boom/bust cycles are the most efficacious means to transfer the wealth and property of the soon-to-be-extinct middle class to the central bankers’ oligarch accomplices. Looks like the RBA just broke it off in the asses of the housing speculators – setting the stage for “private equity” vulture funds to hoover up tens of thousands of foreclosures at firesale prices. Wash, rinse, repeat.
www.macrobusiness.com.au/2022/07/rba-steers-australia-recession-50-hike/
As expected, the Reserve Bank of Australia (RBA) has just dealt a big blow to mortgage holders, hiking the official cash rate (OCR) by 0.5%, taking it to 1.3%
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