Earlier this month, independent economist Tarric Brooker coined the term “burnout economics” to characterise what is currently happening in the Australian economy.
Brooker explained that the Albanese Government has one foot planted on the accelerator with its record immigration program, while the RBA has one foot jammed on the brake with its aggressive interest rate hikes.
In his testimony to Senate Estimates earlier this month, RBA Governor Phil Lowe alluded to this “burnout economics” in a roundabout way.
