The shocking warning that already-sky high energy prices in Australia could soar by as much as 50 per cent in the next year has nothing to do with the conflict in Ukraine.
Thirty-one years after Australia embarked on electricity ‘reform’—corporatisation, privatisation, deregulation, national electricity market, and the renewable energy target—the experiment has been a massive failure.
The RBA is recklessly ignoring the mortgage stress of households that were lured into mortgages to prop up the bubble; Australia needs a foreclosure moratorium now!
Since the election in May, the Morrison government, Reserve Bank and Australian Prudential Regulation Authority have thrown everything and the kitchen sink at reversing the fall in house prices.
