True, that was a big part of the problem.

This is one of these “Doesn’t anybody see this? I feel like I’m taking crazy pills here” moments - dropping the interest rates didn’t do why we wanted (just pumps up property and equity prices with cheap money but doesn’t actually stimulate the economy), even some countries set them negative which didn’t work either, and raising interest rates has never been really shown to reduce inflation (just that you can raise them high enough to cause a crisis, which causes far more problems, and then hopefully by the time the recovery starts inflation contributors have abated…)

Their whole monetary policy seems to be bunk.

> Their whole monetary policy seems to be bunk.

It's mostly been under the management of a party who straight-out optimise for company profits and screw the little guy (who spent 10 years continually voting for them because Chairman Rupert said so).

The problem with monetary policy is that there is no way to actually decrease the money supply, other than repaying debt. If there was literally any other mechanism to get rid of excess money, then you could, for example, do helicopter money when there is a recession and do the inverse of helicopter money when there is a boom and never even touch the interest rate.

Does that mean, someone would add or take money from anyones bank account? And you can't do anything about it?

Taxes are one of these mechanisms. It’s just political suicide to vary the tax rate like this.