Post #4004380
2026-07-21 23:09 UTC
The price of war is always paid by ordinary people.
As Trump's conflict with Iran pushes up global oil prices, Australians could soon be hit with higher petrol prices and another RBA interest rate rise. Working families cop the cost, while oil companies and arms manufacturers cash in.
Yet another reminder that foreign wars don't stay overseas—they end up in our wallets.
#auspol #rba #costofliving
https://www.theguardian.com/australia-news/2026/jul/22/rba-interest-rate-rise-likely-us-iran-war-markets-forecast
Replies (1)
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@stephengentle@ioc.exchange 2026-07-22 13:22
@mojo@aus.social And the best part? According to IMF research tat studied policies of hundreds of countries policies and the results over the last inflationary episode, it turns out trying to control inflation with interest rates doesn’t actually work when it’s caused by external factors (which it is clearly here, and I reckon is actually the case most of the time…). So they’re hurting Aussie families for no reason! https://www.imf.org/en/publications/wp/issues/2025/10/24/navigating-the-2022-inflation-surge-571068