Although the eyes of the world are on Greece with its potential to undermine confidence in the eurozone, the unravelling of the Chinese sharemarket could have far greater implications for our economy.
Rates have been too high for too long and the RBA move has awoken us to the possibility that our cash and bond rates should be zero to 1% too - and are on their way there.
While a constant concern since the GFC has been that easy monetary policies would cause surging inflation, it hasn't occurred. But what if we end up with sustained deflation instead?
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