Slashing and burning housebuilding and investment today will inhibit inflation a little in the short-run at the price of diminishing long-term supply – a sure way to breed more long-term inflation.
This is not an anti-inflation policy. It is a cynical transfer of income from people who did not cause the problem to people who are, in fact, profiting handsomely from it. And it is an excuse for further acts of vandalism on some of Australia’s important institutions.
Salvo@aussie.zone 3 hours ago
“You plebeians are borrowing too much money”. “We are not getting paid enough and need to borrow money to survive”. “Our solution is to make your repayments higher so you need to borrow even more money to survive!” “…” “Why are you borrowing even more money to survive!?”
Cherry@piefed.social 3 hours ago
Those who took on too much debt shouldn’t hold the rest of the nation to ransoms.
Aus is an affluent country used to having a high disposable income. They will likely all keep spending.
They need to start taking the medicine. The ironic lucky country is being realised here
bignose@aussie.zone 1 hour ago
There is also significant wealth inequality in Australia. Many, many people do not have a high disposable income. Should they “take the medicine” of unemployment and price hikes?
ryannathans@aussie.zone 2 hours ago
I’m too high for this, which direction are you supporting?