Instead we're now lumbered with an armada of online pundits for 'got interested' in finance in the last year or two are somehow more familiar with the intricacies of how a Central Bank should operate than our own RBA's Board. Incredible! Personally I reckon the old dog Stevens has learned a thing or two in his dozen years as Guv and Assistant Guv, so I'll probably listen to him, if it's all the same.
Meanwhile unemployment continues to fall in the US towards its target and the housing market is rising in 87% of cities. As the US stock valuations have more than doubled in just a few years, our own share markets have been on a tremendous run, adding around 20% in value in just one year, increasing Australian household wealth to all-time record highs - the highest level of personal wealth in the world!
As for China, well the predictions of growth falling away were thrown into disarray this week when a stonking set of trade figures was reported, suggesting that the targeted 7.5% growth might yet be achieved. Meanwhile the July data from ANZ was just mind-boggling reading: industrial production growth and retail sales are just flying, right across the board. Great news for Australia, being ideally positioned to capitalise on this once-in-a-generation boom with its mineral exports.