Recession strikes fear into many and pain isn’t evenly shared | Stock Take: Is the Economic Model…

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Recession strikes fear into many and pain isn't evenly shared

Unemployment soared above 11pc during the 1980s recession. (ABC News: Alistair Kroie)

Remember the good old days? The time when life was simple and opportunities endless?

Last week, Reserve Bank governor Michele Bullock batted away the idea that a recession was inevitable but finally conceded that unless inflation was brought to heel in a timely manner, it was a possibility.

"So, it's not our base case, I don't want it, but if inflation expectations get away, that's the sort of scenario you might be looking at."

Michele Bullock concedes there is a risk of recession. (AAP: Dan Himbrechts)

Pandemic aside, we haven't experienced a recession — one where the catalyst was rising interest rates — since the early 1990s.

Is Australia facing a real recession?

Dale Gillham is the chief analyst at Wealth Within and the international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of the award-winning book Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in all good bookstores and online at www.wealthwithin.com.au.
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