Since the election in May, the Morrison government, Reserve Bank and Australian Prudential Regulation Authority have thrown everything and the kitchen sink at reversing the fall in house prices.
While the major banks, regulators and government have done everything in their power to block any moves towards bank separation, they have ignored one important point: separation would be good for the banks as businesses.
With the election charade out of the way, we can now see the truth about the economy in the actions of the economic authorities—it’s a full-blown emergency!
There are numerous reasons Bill Shorten’s Labor failed to convince Australians to elect them to solve their problems, but there is one obvious reason. Inexplicably, Labor let Scott Morrison off the hook on the banks.
