Ummm…. inflation is happening worldwide…. Zimbabwe here we come!
Well… its looking more and more like the whole world is going down the tubes economically:
March 4 (Bloomberg) — Australia’s central bank increased its benchmark interest rate for the second time in four weeks and said there are signs the highest borrowing costs in 12 years are prompting consumers and businesses to temper spending.Governor Glenn Stevens and his board raised the overnight cash rate target by a quarter point to 7.25 percent in Sydney today, following adjustments in February, November and August to stem the fastest inflation since 1991.