Interest rates were higher at around 7% from memory and the RBA had plenty of room to move - today they are out of ammunition with regards to rates
The issues of the GFC were never resolved - "the can was just kicked down the road" as they say
Oh they have more room to move (for the immediate time being)... into the negative. Thats where the 10K cash ban, bail in laws and banks sudden "inability" to allow anyone to withdraw large sums of cash will all come quickly together in the worst possible way for the average punter.
Totally agree though - most of the general public think there is just a health crisis going on at the moment. While true - this is just most likely the catalyst that sets off total economic collapse. Either through depression, or, more likely, hyper inflation. All federal reserves that matter have the money printers going at maximum now.
We are now edging closer and closer to people realizing the total con that is going on here and losing complete confidence in Government issued fiat.