Fed speak lift-off – Fast hikes coming fast

We need to act now. The sooner we raise interest rates the more gentle the coming economic roller-coaster.

Australians, economists to families, have no idea how bad it may get.

This "we are best in world" at everything is utter nonsense and is our un-doing.

The rest of the world has become super-productive while we increase regulations to an absurd degree choking off entrepreneurial spirit and creating a strict class society of who can afford compliance, financial and tax advice.

Even to open a cafe?

The loss of talent and potential from the national resource pool is mind-blowing.

We really do need to wake up. It is no accident our share market started falling first and our currency has lost 10% in just the past six months.

Hello Media/Reporters. It is up to you to start to stir things up and start to ask the hard questions again. I really think you have dropped the ball in not calling out the RBA to start with, and also letting government in many cases have an easy ride.

The RBA is of the utmost importance to the successful operation of our economy that we all cherish.

By enjoying the easy ride for our personal mortgages and investments we have all allowed excesses to develop that will come back to bite us hard.

It might be nice to have the bigger home closer to the shore line, but it will not be so nice when our economy enters a roller-coaster period for many years to come as overheated property and stock markets inevitably unwind, as they always do.

And at a time when inflation is rising and the central bank having been so inept, seriously incompetent at its job, will be having to chase inflation with ever larger rate hikes. Large hikes that never needed to happen. We should have begun gently unwinding stimulus and crisis monetary policy settings at least six months ago. The opportunity to do so gently, is now gone.

Everyone has been so comfortable with the short term benefit of low interest rates, that we have lost sight of the long term damage, inflation escaping and the volatility in the economy that will absolutely follow.

This is the incompetence of the RBA. Even when the OECD recommends an urgent review of the Reserve Bank Charter and the Reserve Bank Board itself, it gets a one day mention in the financial media and nothing anywhere else. This is the most immediate most frightening economic weakness we have as a nation.

Our central bank is a dismal affair.

The pointless platitudes of the Reserve Bank are completely inappropriate, and to be frank, a dis-service to the Australian people.

We have gone soft and assume on almost any subject we are the best in the world and the envy of the world.

How did our proudly egalitarian society become so dangerously arrogant.

The biggest lessons in life come from the point of greatest confidence. Australia just passed that tipping point.

We have to do better.

We are facing a prolonged economic crisis due to the bringing forward effect of economic activity out of the future, as a result of too much government stimulus and ridiculous interest rate settings for far too long.

We are headed into a valley, just when, because they are so unaware and slow, our central bank will be belatedly raising interest rates to chase inflation. This is not a good situation.