this post was submitted on 27 Mar 2026
28 points (88.9% liked)
Australia
4983 readers
15 users here now
A place to discuss Australia and important Australian issues.
Before you post:
If you're posting anything related to:
- The Environment, post it to Aussie Environment
- Politics, post it to Australian Politics
- World News/Events, post it to World News
- A question to Australians (from outside) post it to Ask an Australian
If you're posting Australian News (not opinion or discussion pieces) post it to Australian News
Rules
This community is run under the rules of aussie.zone. In addition to those rules:
- When posting news articles use the source headline and place your commentary in a separate comment
Banner Photo
Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition
Recommended and Related Communities
Be sure to check out and subscribe to our related communities on aussie.zone:
- Australian News
- World News (from an Australian Perspective)
- Australian Politics
- Aussie Environment
- Ask an Australian
- AusFinance
- Pictures
- AusLegal
- Aussie Frugal Living
- Cars (Australia)
- Coffee
- Chat
- Aussie Zone Meta
- bapcsalesaustralia
- Food Australia
- Aussie Memes
Plus other communities for sport and major cities.
https://aussie.zone/communities
Moderation
Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.
Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The biggest similarity for me is that the govt will wait and wait, too scared to do anything that might "harm the economy". Until it's too late.
And when anyone says "harms the economy" they of course mean "harms profits".
You can rephrase it how you like but ultimately it harms everyone.
We haven't had a recession in decades, but it gets pretty brutal.
Yes some rich people's yacht money gets deferred, but also young single parents lose their jobs and can't find somewhere to live.
The poorest among us always bear the brunt of an economic downturn.
At the moment no one can afford a house because of 50%+ inflation since the last crisis. The poorest are the ones who have felt this the most. We NEED a recession, realistically one where prices of everything halve to get back to where they should be.
Would it be terrible for a lot of people? Absolutely - but the alternative is absolutely destroying the economy and affordability already.
Recessions don't tend to work that way. Like I said the poorest always shoulder the burden.
Its not like kinda turning it off and on again to have a do-over with more reasonable prices.
The poorest always shoulder the burden - of everything - because they’re the ones where even the smallest change affects them the most. They’re the ones most affected by unchecked inflation like we’ve had the last 6 years.
A recession does lead to a “reset” in prices via deflation. Prices go down when spending and earning goes down. That’s literally what happens. Buying power per dollar increases because money is harder to come by, so prices drop to accommodate the drop in spending and earning.
Sure but a "reset" implies everyone starts over.
In a recession people lose all their money. Thats literally why things might get cheaper, because no one can afford them.
As we have both said - the poorest are hardest hit, being the most insecure with employment. Consuming their savings degrading professional networks and connections, even falling into poverty.
In short, if you cant afford to buy a house now, it will be much more difficult to during or following a recession.
Buying power per dollar may increase, but only wealthy people have any dollars. Thats why this type of financial downturn is when wealthy people consolidate their positions and buy more houses et cetera.
As an aside, if property in Australia reduced in value by half, we would probably be a failed state. I dont think our various institutions both public and private could navigate those kinds of catastrophic losses.
I never implied everyone starts over.
No, not everyone loses all of their money during a recession. The end result of a much needed recession would be prices across the board being much more affordable again. It wouldn’t be painless, but without a recession there’s literally no end in sight to the pain. The poorest will keep getting worse and worse off, but so will the people above them, and above them. The only ones who don’t notice are the 1%. Even those on 200k are hurting with prices where they are now. $100k 5 years ago was a great wage. Now it’s pretty much the bare minimum to not be living in poverty.