As far as rallying cries go, Michele Bullock’s “we are poorer, and there is no way out of that” leaves a lot to be desired. It’s not going to win you any applause, particularly when you’re the governor of a central bank that has just announced a third rate hike. But as a blunt way to describe what the US-Israel war on Iran means for everyday households, it’s hard to fault. “Australians are poorer because of this shock to oil prices and energy prices and all the other commodity prices that are being impacted,” Bullock told journalists. “So yes, we are all feeling poorer. That’s what this has done, this war on the other side of the world.” The RBA’s latest forecasts confirm this: higher prices and lower growth. Pay packets that can’t keep pace with inflation. An economy that grows at an “anaemic” rate of 1.3% in 2026, or half the pace of the year before.…