Post-Script to History Repeating but in Different Attire

The Reserve Bank of Australia raised the cash rate today, 29 September 2026, to 4.6% - the highest in 15 years.

The Board’s Governor declared that the pain felt by some people will be hard, but in time it will all be worth it.

What does a statement like that do to the “some” the governor refers to? Because it certainly won’t affect those who can well afford to bear any pain, rather it is average Australians with mortgages, and small businesses who will be looking at their books and deciding if it is still worth it to “have a go” in this country that once promised “a fair go for all.”

I’m not an economist, just a mere historian of the ancient world with a focus on how people behaved and responded to events of the time, often contrasting that to our own era. But today’s show of indifference toward ordinary Australians by those who pull all the strings, made me think of how close we are to a Fall, the kind the Roman Republic faced in the later period of the first century BC. I refer to an article I wrote earlier this year on history repeating, and it’s worth sharing again, if not for anything else than a reminder that we must always be vigilant to how the affairs of our nation are governed, and by who.

That article can be read here.