Quote Originally Posted by phamxuantungkth View Post
Actually, the economies in other countries are in recession as well. It's global effect and it is one of the reason of the current flood of J girls because the economy in Japan is shrinking as well. Same for China, Singapore, Malaysia, Philipines, Indonesia, etc. The three biggest consuming markets are US, China and Europe are in recession which consequently resulted in decrease of income from the countries exporting products to these three markets. No disposal income as usual as before.
The one big thing that caused the inflation here in Australia is the previous government's excessive money printing to provide Centrelink payments during the COVID-19 lockdowns. Many international students were also recipients of disaster payments as the government knew if they send them all back in droves they'd be in trouble to fill the job market with cheap labour.

And because of that we're also losing our $1080 middle income tax offsets in the coming financial year.

The only good thing about some recessions is that it benefits those with investments in certain commodities. Some of my investments has gone up but I'm still trying to practice discretionary spending, especially in this situation where most services are LEMON.