Brian Parker
speaker
1,041 appearances
2 recordings
2 series
first heard Apr 2026
last heard 16 Apr
Brian Parker’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Apr 2026 with 2.
Appearances
cost of living shock.
And so their disposable income has probably gone down as a result of this.
Or their ability to spend money on a whole range of other things because so much of their, I'll call it non-discretionary spending, you know, that I've got to get around, I've got to pay for petrol, I've got to pay for energy, I've got to pay for food.
if the price of a whole range of things goes up, it means you're just going to spend less on other things.
Oh, well done.
Yeah, I think that's true and that's inevitable.
And the key thing really from a policy perspective, if these flow-on impacts are going to persist for some time and, okay, if the – as I said, if peace breaks out tomorrow or next week or whatever, those flow-on impacts will continue but they'll stop at some point.
okay, which means at some point, maybe not in 12 months, but the annual rate of inflation will come down.
But the trouble is the longer it stays elevated and the longer prices stay elevated, the greater the risk that you lose control of inflation, the greater the risk that people start to say this is normal.
you basically end up with a situation where inflation is uncomfortably high, but also because you've restricted the output of a whole range of things because of this shock to supply globally, that means it's bad for growth as well.
It's bad for economic output.
That's a stagflationary environment.
A recession we had to have, yeah.
Back then, we had very, very strong demand.
The late 80s economy, not just here in Australia, but a lot of countries around the world, you had very rapid growth in spending and in borrowing.
You had very strong growth in asset prices.
in property markets, and you ended up with an almighty... And in order to try and rein in demand, central banks around the world raised interest rates quite aggressively.
The RBA probably raised rates more aggressively than most because our inflation was already higher than most other places.
See, a lot of countries in the late 70s, early 80s, when there was another oil price and inflation shock, a lot of countries back then took their medicine and drove inflation down.
Australia didn't really do that.
Showing 801–820 of 1,041 · page 41 of 53
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