What economy is RBA Deputy Governor Andrew Hauser talking about?

If those running the country – especially officials of “independent” bodies like the RBA – cannot acknowledge the obvious and correct course, Australia will remain trapped.

The real lesson from horse racing isn’t that some horses get boxed in; it’s that winning jockeys learn from their mistakes.

Our RBA jockey, however, shows no sign of reflection. He seems to believe that if he just applies the whip harder, the economy will surge forward.

That isn’t good economics. It’s cruelty – and futility.