you left out covid related supply disruptions, which was cited as the primary cause of inflation.
I agree with the post though.... all those factors played a part, as well as Morrison's delay in allowing RBA to act by raising interest rates as other nations did.
as for lifestyle expectations, yes expectations of a smooth ride through life create serious problems. spending is dependent on expectations of more income to pay for desirable goods/services. it was often noted that discretionary spending was a constant, rather than a variable, as many didn't recognise their money was running out. I would add the wealthy to the young people in this matter.
