Thread by @anthonypesec

@RBAInfo Governor Philip Lowe is presenting his inflation and other economic metric forecasts at #NPC.

On Australia's first ever dabble with QE "We did it because other governments did. Otherwise our bond yields would be high translating to higher interest rates".

So much for capitalism and the laws of supply and demand. Does this fool wonder why property jumped 30% in a year?

@RBAInfo policy has created asset bubbles everywhere and, having lost grip of rising interest rates from now on, I wonder if these incompetents will take responsibility for the hard deleveraging that will imminently happen next. Their economic pain relief covers terminal illness.

The brilliant @latingle follows, as always, with the polite but tough questions. To paraphrase "how do you can be certain about what comes next given that you've been wrong on everything so far".

Lowe: "bUt wE wERe sUrPrISeD by tHinGS aND dON't oWN A crYStAL bALL. sORRy".

Dear @RBAInfo, if you're trying to jawbone an economy whose economic levers you've completely lost control of then get a more compelling liar to spin your propaganda.

Lowe, on inflation: "A lot of it is due to supply side issues. Consider the computer chip shortage and how that increases the costs of electronics*.

OK then, now do housing costs.

Next: "I'm not worried about inflation".

Oh dear. He's probably already looking for a new job.

Lowe getting hammered now by some Sky journalist for creating policies that have led to an over-leveraged housing bubble in light of no longer being able to promise low interest rates.

Lowe, in efforts to distract from risks of a housing market crash: "bUt peOpLe hAVe jObS nOW".

Lowe just reveals that he doesn't have a mortgage on his own home.

Bad luck to the poors out there who will be getting screwed due to @RBAInfo policy failure!

Literally everybody that has asked a question of the @RBAInfo Governor seems to have a better grip on the economic realities of Australia's surroundings. Lowe is damned lucky that he doesn't have a PVO moment like @ScottMorrisonMP did in this same room yesterday.