" ... the cost of living is going to keep rising the more we the people keep spending as if there is no tomorrow, and don't save a cent..."
people's spend (i.e., demand) is not the sole contirbutor to the rising cost of living. In Australia at the present time, it is the shortages of skilled labour, capacity constrains in our ports, roads, etc. that are driving up the cost of production which in turn are passed on to the consumers as increased prices in the products we buy and services we utilise.
