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Unfortunately when people stop spending, it causes job...

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Margaret63

31,538 Posts.

733

01/10/24

18:34

Post #: 75930898
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Originally posted by Justis: ↑

You are right Albo didn't get voted in, Scomo got voted out and Albo just happen to be the opposition leader

Not sure you understand that the economy slowing ATM is a good thing, if people keep spending the economy grows which means inflation increases, so does the costs of goods and interest rates which causes mortgage stress.

Post Covid inflation has been a problem right around the world, not just Australia. Inflation is now coming down in most countries, with interest rates on hold and more likely to fall than rise that is going to help people.

There are winners and loses when inflation rises and same when inflation falls and hence why the RBA aim to have inflation in the 2-3% range so it strikes a balance.

I am paying just over 11% interest at the moment, fortunately for me my loan is not that big and I can claim interest as a business expence

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Unfortunately when people stop spending, it causes job losses.

businesses closing down, more jobs lost.

retailing gets smashed.
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