Expert Economist: Inflation, HECs, buying a property & recessions
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What is the main topic discussed in this episode?
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This podcast contains general financial advice only. That means it's not specific to you, your needs, goals or objectives so don't act on the information until you've spoken with your financial advisor. You'll find our full disclosure, disclaimer and link to our financial services guide in the show notes. Welcome to this episode of the Australian Finance Podcast. It's my pleasure to have you with me. It is good to be back, Owen. Today, we're talking economics. We're talking all things economy. This is a topic that we've broached once before, and we should have done it sooner again because there is so much interest in things like interest rates, if Even during COVID, we heard this scary term called a recession.
And a lot of people were pretty scared about that. So maybe I'll let you introduce our guest, given that you spoke to him previously. And then we can just jump into some questions from them. We've got some listener questions to fire away as well.
Yeah, so listeners might remember about six months ago, we had Dr. Sam Wiley from Melbourne Business School on the podcast, and we talked a bit of a basic crash course on economics, interest rates, all of that stuff. And I remember we were talking about fixed mortgage rates and all that sort of stuff back then. And there's been definitely a lot of developments in the last six months, and we had some great audience feedback from having Sam on the show. So, Sam, welcome back onto the podcast today.
Thanks, Kate. Thanks for inviting me. Hi, Owen.
Fantastic to have you with us, Sam. The topic at the tip of everyone's tongue right now is inflation. What does that mean? And then the idea that interest rates have to go up to protect us against that. And I know we've talked about this previously, but... I guess maybe we can start off with a very kind of simple question, Sam, that is kind of narrow. Are you surprised that we are talking about inflation in 2022 as much as we are?
It's not surprised. It was inevitable to a certain extent, Owen, that inflation would become the big question after COVID-19 because inflation, as you know, means the prices in the economy going up, prices of cars, of houses, of restaurant meals, of clothing, of everything, of all the goods and services, goods like, as I said, cars and computers and phones and services like Uber rides and restaurant meals and and holidays and the like, and education and the like. So the price of goods and services going up in general across the economy, that's what inflation means. It's just like blowing up a balloon. There's some pressure that's forcing everything up, everything out.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–14:06
2
What is inflation and why is it a hot topic in 2022?
14:06–16:08
3
How does inflation affect living costs and mortgages?
16:08–20:49
4
What is the Consumer Price Index (CPI) and why is it important?
20:49–30:55
5
What causes inflation to rise after COVID-19?
30:55–48:51
Speakers
3 identifiedMore from Australian Finance Podcast
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