Last week, when the Reserve Bank announced it had raised the cash rate to 4.85%, it also released its latest forecasts for the economy in its Statement on Monetary Policy. For those hoping for a recovery in lost living standards, the news was very grim.
Kinda salt in the wound of the fact that a non-zero amount if the inflation that’s led us here is based on major constructions either underway or planned for AI data centers. They disrupt the economy while trying to steal the jobs that underpin that economy.
Of course if the AI industry keeps hemorrhaging out the arse then maybe we as a society will just leave them bleeding out and move on with our lives.