Much has been written about how, with the passing of the Queen, we have lost one of our last continuing links to the second world war.
We have, but we have also lost something even more profound – the link she gave us back to when the kind of world we know began.
On Tuesday last week Queen Elizabeth appointed a new prime minister of Britain, Liz Truss, who was born in 1975.
Australians on our humiliatingly-low unemployment benefit are about to get their biggest payday ever.
On September 20, the single rate of JobSeeker will climb A$25.70 per fortnight from $642.70 to $668.40. That’s the biggest automatic increase since the payment began at the turn of the 1990s, and twice as big as the next-biggest.
Wes Mountain/The Conversation, CC BY-ND
Homeowners will face mortgage rates near 5.5% in a little over a year, according to a survey of 22 leading Australian economists.
The Conversation’s 2022-23 forecasting survey predicts an increase in the Reserve Bank’s cash rate from its present 0.85% to a peak of 3.1% by next August.
Census data to be released Tuesday shows Australia changing rapidly before COVID, gaining an extra one million residents from overseas in the past five years, almost all of them in the three years before borders were closed.
The really bizarre thing about calls for a UK-style windfall profits tax on gas is that Australia’s already got one.
By lifting its cash rate by 0.5 points, from 0.35% to 0.85%, the Reserve Bank has added about another $120 per month in payments for a A$500,000 mortgage.
If financial markets are to be believed, by the end of this year it will have added a total of $800 per month – and, by the end of next year, a total approaching $1,000 per month.
A recession in the US usually brings on a recession in the rest of the world, although not always in Australia.
Australia has escaped such a recession twice in the past 50 years.
Stand by for something “reckless and dangerous”.
