We know inflation is coming under control, but it’s happening much more slowly than the Reserve Bank would like.
And part of the reason for this is that it’s fighting an uphill battle with demographics according to leading demographer Simon Kuestenmacher.
Today I’m going to chat with Simon and ask him to shed light on the Reserve Bank's challenge and more importantly, what it means for all of us.
Listen as Simon unravels the intricacies of economics, demographics, and inflation, providing a fresh understanding of these complex topics.
From the impact of Millennials and Baby Boomers on Australia's economy to the effects of interest rates on business decisions, this conversation is a deep dive into economic trends and their implications for different sectors of society.
Demographer Simon Kuestenmacher on Economics, Inflation and the Power of Demographics
During my chat with Simon, we explore the challenges faced by the Reserve Bank in controlling inflation and promoting full employment, the influence of Millennials and Baby Boomers on Australia's economy, and the impact of demographic trends on economic strategies.
- A detailed look into the Reserve Bank's mission to control inflation and stimulate full employment.
- The tools the RBA has to carry out its
- How Millennials and Baby Boomers are triggering an unprecedented spending surge.
- The difficulties the Reserve Bank faces due to demographic trends and high consumer spending.
- The RBA’s role in innovation
- How lowering interest rates can incentivize businesses to invest in automation.
- How a stable and predictable economic climate can attract global wealth.
- Examination of the shocking inflation rate in Argentina and the challenges businesses face in such a scenario.
Whether you are a homeowner, investor, or simply interested in Australia's economic dynamics, a fresh understanding of the intricacies of how demographic trends are impacting the strategies of the Reserve Bank and affecting various sectors of the economy may change your perspective on economics.
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Simon Kuestenmacher - Director of The Demographics Group
Some of our favorite quotes from the show:
“When there's a level of stability and people have more certainty I think it's going to be positive for businesses.” – Michael Yardney
“With ultra high inflation what you do is when you go to the shops you buy your coffees for the day. You don't want to buy one in the morning because in the afternoon, the coffee's going to cost more at the restaurant.” – Michael Yardney
“When you come up against a problem, to turn off the negativity bias in your brain, say to yourself: hey, it's just a problem, it's a problem I need to solve.” – Michael Yardney
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