Greg Jericho on the economic forces pushing Australia towards populism
6/21/202617 min
Last week, the Reserve Bank kept interest rates on hold, but the decision was followed by a warning that a future rate rise was on the table because prices are still rising too fast. It came as the US and Iran signed an initial agreement to end more than three months of war, which has sent global supply chains into chaos. Meanwhile, Australians are feeling the pinch, and deepening economic disaffection has coincided with rising support for Pauline Hanson’s rightwing One Nation party. Nour Haydar speaks with Greg Jericho about why so many Australians are feeling pessimistic about the economy
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First 90 secondsNoor Haidar· Host0:00
[gentle music] This is The Guardian. I'm Noor Haydar, coming to you from Gadigal Land, and this is The Full Story. [gentle music] Australians are feeling worse and worse about their own economic security and wellbeing. This deepening disaffection has coincided with rising support for Pauline Hanson's One Nation party.
Greg Jericho· Guest0:38
When we look at what's happening with One Nation, and when you look at how the economy is talked about, how it's reported on, feels very disconnected from people's lives.
Noor Haidar· Host0:49
Last week, the Reserve Bank kept interest rates on hold, but the decision came with a warning that as inflation continues to rise, future rate hikes are still on the cards.
Greg Jericho· Guest1:03
The workers are the ones who have to shoulder the burden. Workers are the ones who are not being thought of when the elite institutions, whether it be the Reserve Bank or even governments, are talking about the economy.
Noor Haidar· Host1:22
And now, with the US and Iran having signed a deal to end more than three months of war,