"When the central banks are afraid or raising rates for fear of hurting the housing industry instead of doing what is needed I also think they are acting stupidly."
I don't think that it is stupid if a central bank resists to call to blow up the economy for the benefit of a few rentiers.
In AUD, EUR. GBP or USD, you will never see interest rates at 10% again in your life time. The economic structures that existed to produce high interest rates in the 1980's no longer exist.