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).
it is kindof hilarious that anyone at this point think living standards are ever going to get better for any except the 1%, and even they won’t see this continue for long as we come to the carbon pulse down slope and run out of key minerals, water, and climate change really starts to bite hard.
I see you are familiar with the more than human predicament. 😉
Luckily, I keep getting told that AI will replace my job by 2030, so that won’t be a problem.
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.
extrapolating that far from a graph is pretty unsound.
Realistically the RBA has no idea when but probably never is realistic given that we are entering the exciting part of climate change.
the exciting part of climate change.
The atmosphere may be excited, but I am not 😥
You don’t enjoy living in the cool zone?
Personally, as someone that never got the chance to sow I’m absurdly upset at how the reaping is going.
