Inflation is creating inflation. Unlike previous episodes where higher prices sparked wage breakouts, a large portion of our inflation is being driven by interest rate hikes, writes Ian Verrender.
As the privatisation craze swept the developed world in the 1990s, governments looked around to sell almost anything that wasn’t bolted down, until they discovered the bolted-down stuff was worth even more.
But to extract the best sale price for the assets, governments began including clauses that effectively guaranteed a decent annual return, regardless of how the economy was performing.
Australian media saying the quiet part out loud.