Nassim Khadem

Exactly.

A lot of the conversation is, oh, but the inflation's going higher.

You know, you always hear the RBI saying, so inflation's going higher, we really have to deal with inflation.

But every time they hike interest rates, you know, you and I, Dan, talk to Australians about the effect this has on them when they're

mortgage repayments go up, they look at ways of cutting back.

So they might, you know, not go for that extra dinner.

Now they're looking at cutting back on things for their kids' school education, you know, all this sort of thing.

But once they lose their jobs, that's when it becomes problematic because that's when you start to see foreclosures go up.

You know, people have to sell their homes.

And, you know, when I did, I did a piece about stagflation.

So that's when you've got a slowing economy and rising inflation at the same time and spoke to some notable economists like Nick Gruen and Bob Gregory.

And they were talking about unemployment rates.

If the war drags on, they were talking about unemployment rates.

hitting it potentially 6%, 7%.

You know, that's a scary thing.

And the fact that Treasury's already forecast that it would rise, you know, I think this is an area that we really need to kind of keep a focus on what happens to jobs over the coming months.

So seasonally adjusted takes out, you know, the erratic movements in the numbers.

So it would take out the oil price shock impact of these numbers.

Long term, that's really the figure they look at, the seasonally adjusted figure.

So, you know, as I said, going forward, you know, the impact of the oil price shock on the numbers, if the Reserve Bank keeps hiking interest rates, which is what most economists are now expecting, you know, what happens if people start losing jobs and can't pay their mortgage?