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.
I’m making literally twice as many dollars as I was in 2021, and I’m the poorest I’ve ever been in my life. I won’t make it to 2044 (not that I have any hope things are ever going to recover on any timeline).