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.
housing isn’t unaffordable because of rate hikes, its unaffordable because of cheap money and constrained supply, it’s what “we” voted for.
this is a 50 year slow moving shit storm, tweaking rates 50bpd here or there matters nought when you have nothing to begin with but inflation matters a lot.
these many many have fucked around and now they’re finding out, they’re adults, with agency… this can only get worse for them because nearly everything we do in terms of neo liberal economic policy takes us this way, and they vote for it they’re accompolocies not victims… we literally eat the future and how they vote will make it even worse for themselves, we see the same shit in the US.
As to the many many… new car sales are at a record, 75% of them are ICE ffs, over seas travel is at a record, inflation adjusted spending keeps increasing. I go out anywhere and observe cafes and restaurants over flowing (I don’t eat out because i cant afford it) i live near a tourist town that drowns in tourists that require vast amounts of energy to get there, fuck any Hormuz crisis it seems. We’ve just seen record numbers of people pay ridiculous amounts of money to watch strangers run around in shorts chasing a ball (bread 'n circuses)