Australia's ageing population and high immigration are having a huge impact on the economy | 7.30
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- Опубликовано: 19 ноя 2019
- In the third part of 7.30's economy special, Alan Kohler looks at demographics. Australia's ageing population and high immigration are having a huge impact on the economy.
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This is what happens when your entire economy consists of exporting minerals, selling properties, and tertiary education to foreign investors.
Judas-Priest just saw wendover productions?
That just about sums up our lot. Years of little to no forward thinking and countless apathetic governments and the future couldn't be more muddled if they tried.
@@ianscott9596 not everyone gets their education from youtube
Not just property, land. Our economy is sustained by literally selling our country away. Meanwhile stable and full time employment is rock bottom, our farmers and their farms are dying, innovations dried up, other countries are dumping our gov bonds, China's come knocking and everyone's got their head up their arse pretending everything is alright.
@@CN-wt2bj Immigration is literally the only thing holding our economy up. Import old rich foreigners and their assets/ Every one of our industries are either unsustainable or dying. We are literally selling land, selling our country to China to keep this economy going.
The old couple just does not understand that times have indeed changed. You can not support a family on one income today. In pretty much any country in the world. You can also not get a job having left school at the age of 15 - there aren't neighbours offering a job down the road with no skill set anymore. In their case, lack of education really does show. They would not stand a chance in today's economy.
Wrong . Depends of where you
Iive and your lifestyle .
Also leaving school at 15 made some guys millionaires ...if you like baking you leave school at 15 then 3 years of apprenticeship then ...
Up to you .
NB : I know a baker who drives a Urus .
We are a single income family who have owned a home for 8yrs have 4 used cars, motorcycle, larger than average property, large sheds etc etc nothing flash but sufficient. We are also about to do some renovations. Saying it can't be done is obviously false. I'm not going to argue with people but a blanket it can't be done is false.
PS I'm Mr Mum. The Mrs was the sole earner until now & I took on the traditional "mothers roll" and absolutely loved it! It is/was the best job I've ever had or ever will have.
The people complaining are young people living in major cities mostly on the east coast. Where only the best of everything is enough and less than average is disgusting.
That's my unasked for unqualified 2c
@@kingk2405 You know someone who bought a car that's not even a real Lambo.
@@change_your_oil_regularly4287 Is this another "Just move to a location where you don't have a job, friends, or family so you an buy a house" argument?
@@Dylang01 Well that is your view but for him I think it is not a Toyota .
The old man at the end is in fantasy land. Its way harder now. I paid 42,000 for my 1st house in 1982,that was 2/half times my income ,now that same house has just sold for 780,OOo. That's 11 or 12 times my income. Young people now are slaves to the banks for life. I paid mine off in just over 10 years.
I would take living today over living in the 70s any day. Most people would.
@@tinytownsoftware7989 that’s not the point. The point is it’s harder to survive in today’s date than back then. These boomers need to realize that.
@@FukaiKokoro Prove it.
@@tinytownsoftware7989 well for one back then you could go to college and pay for it with ONE part time job. Now some people work three FULL time jobs trying to pay for it. And go into major debt trying.
Back then you could afford a home with a basic but nice office job. Now you basically need a college degree to work at McDonald’s.
When I turned 18 I put in at least 150 applications to basic jobs all over where I live. I didn’t get a SINGLE call back. Not even a call to say they aren’t interested at the moment, it felt like I was handing them my application / résumé and they took it and shredded it.
In my area a new casino opened up and had 16 openings. About 1,000 people applied.
To put it lightly we’re screwed. It’s all thanks to the 0.01%. They influence laws around the world to benefit themselves and screw everyone else.
@@FukaiKokoro the person above is clearly a troll or just ignorant. You explained yourself very well 👏🙏🏻
Back in my day I worked 35 hours a day
Wow! even thought there was 24 hours in a day mate thats jesus christ shit!
Genealogy Matters ha ha. I had a full time job from age 5.
lolol
😂😂😂
A prouder slave?@Genealogy Matters
Exact same shit in Canada minus the warm weather.
blessed be!
@Azz Lazz I yearn for that day.
@Azz Lazz be careful for what you wish for
@Azz Lazz you will be disappointed. Why wish bad for others?
Golden Retriever Actually Canada is doing way better
Looks like extremely high house prices and selling the country to foreign investors was not as that great for economy as the government thought.
It was never for the economy p, it was done for the property investor aka boomer to line their pockets by constraining rental availability thus squeezing prices.
The politicians are corrupt, teaming up with their banking and property developing mates to line their pockets. I haven't even bothered to buy a house!
Australia has low information voters who have been misinformed by the media and education providers, and now we suffer the consequences of poor quality government.
Agree in principle, but you have a system that gives you a choice between Laurel or Hardy.
we've been sold out.
gcsurfer100 Thanks to the greedy Australian Government. Hip, Hip.
Stop whinging? Australians live in the luckiest country on the planet and yet they still whinge.
@@sandponics because it could be, and used to be significantly better
@@sandponics another one stuck in 1975.
@@sandponics What are you basing that on, David?
Why did you let it end on that old guy? That comment was so ignorant. Clearly, wages & salaries are lower for younger cohorts than older cohorts at the same stage in their lives and the housing market is higher in Australian than ever before.
I do agree houses are more expensive especially through mass immigration,but 35000 in the early seventies was an enormous amount of money at 21-24percent interest when the take home pay for a single worker with the wife at home was 120 dollars clear, different times same problem.there was no credit cards ,loans were very hard to acquire,no take away meals no Uber eats etc ,your wage was basically what you had.there was no superannuation ,so these people did it tough to pay their homes off but then had the fortune of the housing boom in the mid eighties then the absolute surge in prices from 2004-5
why end with old guy? Because the ABC's audience's average age is 66. They are pandering to their boomer viewers. We are right, the young are wrong.
@@darrencottam1146 21-24% in the 70's? never went above 10% in the 70's and did not break 15% to the mid 80's
Young people spend their money on shit though. Can’t argue with that.
@@barbellsamurai8014 and your facts are based on fake history or what your grand parents went through,dude we lived through it,don't tell us we had a sugar coated ride.youe views have been manipulated.wake up do your research , don't rely on Google they are changing history.the interest rate under the he Fraser. government was 21 percent and peaked at 24 percent when John Howard was treasurer.your history is being manipulated,so you think everyone had a free ride before you were born .god sakes don't believe anything that the internet tells you research ,and learn ,your generation is being hoodwinked.and you accept it as gospel..
That old guy at the end🤦🏼♂️ he’s obviously going blind if he can’t see the changes that have taken place.
Yep. And when every young person stops spending, businesses close down and economy collapses, it is not their problem anymore.
yeah and the funny thing is which I am surprised as to why no one has even mentioned so far is that the old fella isn't even a boomer... he is the silent gen towards the end of.
so yeah, no disrespect at all but these people of that age group are dinosaurs (as I say all the time to myself) especially now more than ever before in regards to modern society with the vast differentiating differences between younger people and older people due to the vast technological progresses in the last what 20- 30 years. a lot haven't caught up and don't even want to (know about modern stuff), after all just ask my stiffy 80 year old neighbour...
so yes people of that age usually are very delusional and out of touch not that I can blame them in ways being who would want to know about the mess of modern society... if you are this cashed up and that old just live in your own little world as they do and not care...
I know, right - he’s just having a dig at the “Avo on toast, can’t get into the market” popular phrase. He’s only had super for 18 years whereas we’ll all have super for our entire working lives. That is our discretionary money there, it’s just held in investment until we get to his age - chances are it’ll be worth a lot more then too!
Wow, your pretty ignorant Deano dumping all older people into one category base on 1 old chap. I guess that’s why your called the clever generation..........I guess.
The older generation have done well purely from being in the right place at the right time. Being able to capitalise on the changes made during the 70s to the monetary system put them in a position to take benefit from inflation. Its not through wise saving and cleverness, simple maths says if you cant earn more than it costs you to live how can you save or invest... u cant.
Cramming more migrants into our cities which favours old asset owners over young wage earners. Debt growth faster than GDP. Tax system that favours old people who no longer contribute to the economy over young workers. UNSUSTAINABLE.
I notice Sydney is introducing water restrictions because 1M people have been crammed in but no increase in dam capacity over the last decade.
This will end in an epic recession/crash.
@Evan sadly the old that will starve are the ones who missed the property and superannuation bonanza of the last 30 years - usually mothers who divorced in the late 80s/early 90s. Not the entitled multi-property owning scum.
No, the real cohort who will starve are those in their 30s and 40s who have monster debts and lose their jobs, and those in their 20s who remain unemployed for long periods.
Immigration doesn't take into account limited resources or climate change. We are big dry country that is only getting drier. Government wants unlimited economic grow and immigration seems their only path
Bizarre human hamster wheel game being played out....buckle up.
Anyone that uses the ageing population to justify more immigration is a globalist who hates Australia.
Do boomers like Alan Coler really think that all these different ethnicities and religions will get along and live happily ever after? Look at parts of Europe now with Sharia no go zones and different groups on the brink of war with each other.
Australia's biggest problem lies in the saying and attitude, 'She'll be right mate.'
Better understood as apathy!
SHE WILL NOT BE RIGHT M8
yes will only be ok if we the people do it ourselves. Other problem is us trusting these strange people from the roman death cult pretending to be politicians as to be actually looking after us and most peoples complete lack of awareness of the system. being too honest and always willing to help refugees before ourselves and others is another failing of australians
That carefree statement was once used by a relaxed and easy going population. A generation who applied it, and it was almost gospel. Come forward 30-40 years and it's a bygone call that many today wouldn't even understand the principle behind it. An Australianism.....barely lost.
@@sonofagreatsouthernland and enter our friend in the video that is giving dated advice to a world he doesn't understand. and why would he want to... one on one he would happily tell you this as well...
Over 50 and struggling for constant work and I'm not the only one. Can't get centerlink even though I'm looking for work, It's a bloody joke. flood the country with more migrants and temporary work visas when you have Australian's trying to get work and can't.
tell that to old mate in the video that thinks (dreaming at least he is) that it is still 1975 lol...
Happening here in NZ too. We're being ethnically diluted. Migrants taking over everything.
The number of foreign workers in Sydney just coming over and enrolling in bogus tafe courses and language schools to get work is staggering. When you take money out of the system and send it OS the result is crippling.
@s b None of the other posts mention race/colour etc, we are outlining how employment and services are being used or abused. The other side to this story is that there are a lot of bludgers in this country that sit back and expect a free ride and the rest of the world sees this and acts on it. So we are as much to blame for it as those that abuse it.
@s b doesn't matter about race, too many Poms here too. It's strange our population is 25.1m but the workforce is only 12.9m. in the Netherlands it's 17m to 9-10m workers. The US it's around 190m. Notice other countries workforce is above half their populations, (so around 60%). Compared to ours only around 51%?? Not enough jobs for everyone.....
The Aussie economy is dying as soon as the government allowed companies to offshore jobs and replacing full time jobs to contractors. It is the government that has no strategy to save our economy by creating job opprtunities in the sectors such as manufacturing or agriculture industries or even tourism. What has Australia gotta offer to the world now after covid?
The Queen: “How did the little interview go old boy?”
Andrew: “No sweat my lady!”
BRILLIANT
Working 23 hour days, of course he did. “Back in the olden days”
He had it easy. I had to pay to work 40 hours at mill, and live in a hole in the road.
Because back then after me walk through the snow, the boss said "there's no one else to do the work and I dont have any other options because the population is healthy and allows for wage growth and more hours and or promotions to you blokes that have worked hard"
@@MG-xy9rn back in these older peoples days, they got rewarded for their efforts... people do not more times than not now as I probably don't need to tell you that of course.
that is the major issue these older people don't understand today with younger people and they wonder why most are opting out (of society) etc.
They all say that. They are full of sht
@@sanctuaryism not true. This generation of millennials is much more entitled because of social media. They need to lower their expectations and move to more affordable suburbs. There are plenty out there. There is no housing crisis.
Ok..
I am 62.
Started work at 12yoa.
Paid tax at 13yoa.
Paid my own way and tax all my life.
Retirement age was 60yoa then.
As a Tradesman, then teacher and then Government employee....
Worked up to 80hrs per week, 364 day a year for 12 years.
Worked up to 3 jobs at at a time.
Built my own house.
Never claimed c/link... till now.
Raised my 4 children and helped raise 2 step children.
Now tired, worn out, and ill, so I used what is left of my super to buy a house to die in.
Yep, being used by 2 previous wives/ partners leaves nothing for men.
Dr's won't clear me to work.... ever... due to permanent health conditions (I have been pushing on for the last 20 to 25 years and I can't do it any more)
C/link says 'bad luck Chuck' we say you are ok to go back to work... that's it!
I want to know....
What the f... did you do with my 7.7% that was taken out of my payroll tax that was allocated for sickness and retirement!!!!
Oh... sorry scomo. Did I disturb you free $180.00 per day lunch???
Give me a break.
You lot suck.
Sad. Being in the US, I thought Australia and Canada are doing better. I was mistaken.
@@abdulvahid93 It has all changed over the last 50 years, done by both parties and they have gradually taken everything.
We are now up 💩 creek unfortunately.
And we were too busy working hard to have time to see what they were secretly doing to us.
@@tazzygeoff621 exactly and you aren't even a millennial so about time a lot of people get with the program.
The generation before you as I understand copped it also.
Paid tax for pension all their working life, for it to be stolen by the Howard government.
Easy pickings for governments as the people affected don’t have it together enough to put up a fight. Then the bonus of won’t be around long enough to make a change.
@Joel stfu?
So because they lived a good life.. also didn’t save their money.. makes it ok for government to piss the pension pool away because of poor management?
It really makes me angry when the ABC gives air time to property developers to spout their own interests as if they were good for Australia as a whole. The property developers want Australians to 'get used to' a lower living standard, so that more foreigners can be stuffed into our cities.
The excuse for giving away our heritage to people from foreign cultures, is that we need them to form a tax base to support our retirees. What gives anyone the idea that the newly arrived foreigners will be interested in supporting native born elderly? They will vote for politicians who will promise them that they can bring their own parents to Australia. And what is our superannuation for, if we have to give away our inheritance to the Johnny-Come-Latelies.
Because the ABC is full of smug elitists.
Immigrants are already asking to bring their parents here. It going to be a big vote bank for any politician.
Basically they want slaves to work for them to make their retirement easier. What they don't count on is that these slaves have the opportunity to work up and make something of themselves, shifting the balance of power. I say you get what you deserve.
Chris Watson, from your name I can see that you are not an Aborigen native, so you are an immigrant in Australia, only because your family arrive the what 1/2/3 generation before it does not give you the right to complain about the new arrival, and you don't pay extra tax to support the only one that as the right to ask for hit the ABBORIGEN population that you have treated like slave on the past years, but I, not aspect you to agreed on this, like usual easy talk, have a nice day
@@mauromorganti2563 Aborigines were immigrants to Australia too. There was no Aboriginal nation, just lots of different groups speaking different languages, and in perpetual low-level war.
Like the Aboriginals, I am the descendant of immigrants, but I am a descendant of the migrants who didn't sail into a rich country. I am a descendant of the migrants who actually built Australia's wealth. Migrants aren't coming to Australia to get anything that Aborigines worked to create.
The first British settlers had to start from scratch. They are entitled to have what they have left behind, go to their own descendants, not to foreigners from alien cultures.
Actually, it's not those groups of people - it's the destructive, human-rights-violating policies we have in place to support those groups when they should support themselves
1:35 Working 23 hours a day...impressive work ethic.
They all say that.
It's obviously BS lol nobody works that many hours a day. People need sleep.
drew sale Apparently so lol
Why? (blank stare from Francis).
In my day i worked 28 hours a day
Th only people who want more people are the landed wealthy, the developers, international stores, banks and investors.. Countries grew with fewer people than of today ! so how did they manage ?
Captain Morgan perhaps they hadn’t acquired legacy costs or stolen future growth through the use of debt instruments.
Exactly. Forget all this multicultural, diversity is great left wing crap. The government backers are big business etc and they are the ones wanting more consumers. The right fooled the left in relation to mass immigration.
Sadly, for Australia, the only people who will be able to afford to live here will be the wealthy, the rest will have to go elsewhere to find a better lifestyle for themselves.
And then the poor wealthy won't have anyone to do their chores for them...how sad...!!!!!
@@jimmychoi7862 sadly, you won't get consumers if you don't have jobs for them...if you don't have a balance, the whole shebang implodes.
There was something cringey and boastful about that lady saying they have never argued. I sense a self righteousness and smugness. They have no idea what it’s like in the real world of today.
She said nothing about herself working. Being a housefrau isn’t like getting up and going to work every single day rain or shine
I think HE doesn't argue.
The first generations immigrant kids are complaining about other immigrants coming to Australia . .
Lol
Fken convicts
its true, solution is stop complaining
@Azz Lazz lol . . So where did the first immigrants come from? They were apparently the prisoners in england that were shipped to Australia to get rid of them . .Generations later these immigrants had the last laugh when there kids build Australia what it is today . .
Issue with Australia is they have a large country full of natural resources but they are not developing new cities and there is no political will . . In return the people of Australia suffer with a housing crisis . . But it's easier to always blame immigrants for all the country's problems . .
@Azz Lazz Immigratarion does effect the housing bubble in the main cities . . But there is a shortage of housing like the south of England . . I moved to the united states and what I saw here when it came to building new cities and homes is truly remarkable.
I Used to think the same but there is really to much beuaracracy in England and Australia and not the political will to build outside suburbs and new cities like it is in the united states . .
Where I live they build a new home in 4 to 5 months and that's a large Texas home .
If Australia has all the land they need to make it attractive and build amazing new cities in Australia that offer amazing quality of living . . People will sell there overpriced homes in the cities and start to relocate. . .
The reason I'm saying this is I left an overpriced city in the united kingdom and moved where I got the best bang for your buck and better quality of living .
It's easier to bash the immigrants and all the political class is just trying to work within there set boundaries of squeezing more homes in Melbourne and Sydney which isn't going to solve the problem . .
They need to have the vision to go out and and develop the country with the amount of potential and infrastructure it already has
You are unfamiliar with the geography of Australia. 60% of the land is classified as arid. We cannot afford to cover over any more of our arable land with roofs and asphalt.
If the land isn't arable, then it is habitat for our rare and precious wildlife and should be preserved in its natural state, not destroyed and replaced with a few exotic species and still more humans. We have enough humans in Australia already.
THANKS, for not turning off the comments!
And yet the average age in Australia is just 36, 11 years younger than Japan or Germany and several years younger than most of Europe. The US and NZ are about the same as Australia. It's amazing what a difference statistics make.
That last comment...
ok boomer.
Honestly if they had the financial pressures that those of us now they would understand but clearly old mate is stuck in the 70s.
What disposable income, the majority of my income goes to necessities and that’s with extremely tight budgeting
Thank high immigration for your wages being stuck. Even white collar jobs are getting the 457 visa sponsorship treatment. Don't think that if you work white collar that you aren't replaceable by some "qualified" migrant.
@Bobby, exactly. The average income atm is $950, most rentable places are around $400 a week. So 42% of weekly income is going on rent alone....
Bobby : It's a reference to those who buy coffee every morning and lunch from a cafe every weekday and who use Uber instead of public transport and Uber Eats instead of cooking.
C N to be honest for many it’s not a case of wages being stuck. It’s a case of necessary life expenses being extremely disproportionate to what is being earned. I wouldn’t care if my pay stayed the same as long as the outgoing expenses were within reason allowing enough money to save for all these things.
At the end of the day I work in a specialised field that unless the migrant is a native English speaker they won’t be in a position to replace me.
blue heeler ??? Ok... sure , not sure where you’re going with that but ok
Which Uni student told the government that the only way to sustain our economy is let huge numbers of immigrants into the country?
Kevin Bough Properly a Liberal student. The Morrison dictators want 457 increased.
Guys... It's sold out and called globalization / capitalism and happens now everywhere. Which can be good and bad. Left wing /right wing not relevant anymore. "Immigrants" to blame as main problem / reason or excuse? Lol what a lazy argument again.
P. S. Neoliberal / Neocons.. What ever all same bulls****. It's a sell out of governments, paid by us all as people.
Now you funny commenter go all ahead and blame immigrants / refugees.. Idiots..!
Don't forget we SELL our University places with the promise of Permanent Residency, followed by citizenship. Add the 5,000 people PER WEEK that are imported, any wonder we have crowded schools, hospitals, roads, high housing costs, 100,000 homeless Australian citizens. The "Ponzi" immigration scheme assumes immigrants will never age and add to the problem, so much for our idiotic politicians and bureaucrats who continue to enlarge the problems to be faced "down the road".
Anis Khayati it’s the muslims
@@wyattfamily8997 Leftist universities are immigration breeding places.
That retirement neighborhood, 4:48, reminds me of Black Mirror.
When I retire I just want the fastest internet possible and copious amounts of legal intoxicants. Baked beans for breakfast to dinner.
I work in the transport industry. My employers are crying because its so quiet leading up to christmas this year. Mid this year they restructured our employment arrangements so that none of the employees can earn any overtime, also making any expensive employee's redundant in favor of cheaper migrant workers. This extra income people used near Christmas to buy gifts/holidays.. So basically shooting them selves in the feet as a transport industry. Its a big vicious cycle. Its happening Aus wide.
"work to live, not live to work"
I just watched 3 ABC News videos in a row and they all have this Joel Uber guy in it.
MajorDistraction he’s the abc private driver
@@chalermako Prolly, judging by his username. lol
Thanks abc for brining more content like this to youtube.
The biggest impact on the economy has been the rental industry. In the forties when I was in primary school in Vancouver, we were all British subjects then, the average working man would be making a hundred and fifty dollars a month. If he was renting the rent would be twenty dollars. Groceries for the month would be another twenty. You could buy a city lot, fully serviced with paved road, sidewalk, free water for a hundred dollars. A prebuilt house might set you back five thousand dollars.
After the war they brought in CMHC. Central Mortgage and Housing Corporation. The people guaranteed the banks for housing loans. Today the same small house in Vancouver would cost a million dollars. Rent is two thousand a month. Whether your renting or have a mortgage you’re just thirty days away from being on the street with your suitcase. Very stressful for young couples today. That’s why there’s no more children. Why marriages can’t last. Purchasing power of the working man has been destroyed by the major banks issuing loans to the people; guaranteed by the people.
Vancouver is aging
The grandchildren of these Boomers will probably never be able to afford to buy their own house unless they inherit. Well done Boomers.
Keep everyone out of your safe, gated communities.
How is that the boomers fault?
day of the pillow when?
You don't have any answers??? How about immigration for house prices rising?? How about immigration to why our cities are ruined due to growth??? How about immigration as to why our universities are so expensive???
@@alidarke3132 look at the percentage of homes owned by boomers. Boomers used the wealth they accumulated to buy multiple investment properties, never sell them and stay in huge family sized homes in the city because they like the lifestyle. Immigration is the only thing keeping the economy alive. Boomers are lucky immigrants exist or they wouldn’t have anyone willing to live in their expensive suburbs to serve them coffee and food.
@@jake567100 haha it's immigration that has driven up housing prices. Only 30% of our population has been born here.
Chinese are buying up Australian lands, as Australian real estate has priced Australians out of being able to buy real estate. We have been doing it hard for so long and all that hard working equity, thanks to the government politicians, keep giving it away and selling us out and putting Australians out on the streets.
The Australian government brings in more immigrants to further buy and occupy Australian real estate.
Australians are lucky to retire with a campervan and a car to pull it, to live the rest of their days on the roads, as they cannot afford housing, ongoing servicing and maintenance of a house.
gotta keep that boomer gen pyramid scheme going as long as possible.
so are the buyers to be blamed? or are the sellers to be blamed?
@@krisschmidt5693 sellers really
Edgebotv4 I would really love to sell my home, because the council puts the rates up every year and i have to pay a paper bill fee for the power. As i don't have a computer. $1.20
Each boomer owns five houses. Immigrants can go back home. But native Australians would have no where to go.
Old fella with his comment towards the end is dreaming.
I love how he is talking about unnecessary items with his caravan rig in the background
P W well to be fair, he probably lived within his means to afford that for the retirement.
Anyone who leaves school at 15 like he did hasn't got a hope in hell of ever being able to afford a caravan unless it was him primary residence.
I'm not a boomer but am sick of hearing whinging millennials complain about so called 'housing unafordability' when they all only want to live in plush suburbs with the Cosmopolitan life. Lower your expectations millennials there are plenty of good affordable houses and suburbs out there.
Baby boomers didn't all move to the plush neighbourhoods when they started out.
Audi e-tron Big assumption but he got his own dream retirement.
High debt no disposable income and low wage growth equals small families.
@drew sale then the government opens the immigration flood gates to boost your GDP.
There are several fairly recent government policies, including high immigration, that discourage Australians from having larger families or having children at all:
1. No-fault, on demand, divorce allows men to use women to care for the children, and then, after the children are grown, abandon the mothers and team up with younger women with careers. It is highly dangerous for people of either gender to have children while there is no binding marriage contract.
2. The area of land around a CBD is fixed, so to increase the number of homes, it is necessary to build up or out. Both options represent a drop in living standard. Who wants to have 3 kids, living in a little flat with no backyard? And if you have to spend 2 hours of the day on the road every day, you would never see your kids if you did have them.
3. Compulsory superannuation is a case of forcing people to pay for their retirement, instead of providing for their children's needs.
Exactly
Hell yea. Who can afford big families anymore, except immigrants of course.
It's genocide of a certain group....
According to the old guy if I cut out spending a little bit I can afford a house 12 times my salary no problems just like that!
Please google Australian debt clock......all the so called rich folks will know you are already drowning in debt.........the banks and the crony politicians will fool you that U r rich contrary to the truth....
Young woman at the end said, more than 1 kid is a hand full ..... right, especially when you have kid in one hand and cellphone in the other.
haha that is gold. well you do know lol that Instagram is their other beloved child???
gotta show him off to the world...
The Zombie Squad That is all these egos live off.
And a coffee cup in the hand too,
Spot the Aussie
I am an older Australian who had to leave to live in northern Spain, where I make a small income running B&B. I left because I looked at our future and saw only penury. Living in an overcrowded hell-hole is not my idea of a "lucky country" Before the "but you're an immigrant" crap starts: I learned the language and I support myself.
yep.
In what universe can Australia be described as "ovetcrowded"??? Take a look at Europe.
@@jamesprivet The centre is uninhabitable. The cities are overcrowded. Presumably you have been there? Every suburb in Sydney has been re-zoned for high-density building. Where houses had a quarter acre of garden, they are building ten apartments on the site.
Whats wrong with crowds? Look at New York, Japanese cities.
@@heathsavage4852 exactly... ruined.
This video is insanely underrated, you see when i was a wee little kid i wanted to learn about the economical point of view and this has been a fantastic help. 0/10 thank you
One opportunity opens and it closes for another usually a local and immigrants wonder why westerners hate globalization
That’s because the movement of people is all one way. You won’t find floods of white people trying to get into black, brown, or yellow nations. What is that do we think?
@@braxxian but we have magic dirt in the west.. didn't you know?
Intro is a clone of my baby boomer parents
When I was at high school, one Australian girl out of 300 students received a scholarship. Yibidee yibidah! and that was all folks for Australian children of that time in the 70's and 80's there was no concern nor encouragement for Aussie children who also often came from poor, broken homes and domestic abuse homes and families.
Interesting what the avaracious pursuit of money leaves people with.
Avarice.. Which race has that built in DNA.. In every corner of the world..
"If young people didn't spend their disposable income they could retire as comfortably as me."
Cute. He thinks the bulk of young people with family commitments and responsibilities have disposable income :-)
back in his day, his wife could afford to stay home and he worked as the cost of living was cheap as chips...silly old farts
@Dan theman - Couldn't put my finger on why I regretted making that comment... In all fairness he's _not_ _wrong_ - those with so-called disposable income _do_ spend it unwisely in many cases...
But yeah - he probably benefited from the Boomer post-war economy in ways he's underselling, as well as amassing wealth via the equity of a once highly affordable property...
I hope I don't sound envious - I'm _happy_ for the old sods... I'd not take away a penny from them but I'd be _more_ _happy_ if they merely acknowledged the relative economic / financial difficulty for younger generations today instead of brushing it off so casually and arrogantly.
@@edwardcatt2399 Yes mate they are what I call intergenerational Australians like you said passed down wealth, eg the so-called super fund he talks about he started when he was 58 was more than likely the sale of his parent's house.
As a 50-year-old and worked since i was 14 yo I'm not going to be living off any super fund and buying my self an 80k caravan and have the money to travel around oz, EG you see my wife has a relative that got the family farm and the rest of the family got nothing he sounds off just like the old fart in the clip look what hard work gets you.
Do you know why youth spend money on plastic nice to haves? its due to the fact youth of today will never have the money to buy a house and its why you see them driving around in new cars as the banks are only too happy to get them into a different kind of long term debt, this started from when John Howard was in power and Wayne swan was treasurer, cash up the baby boomers and get the kids into a materialistic consumer economy (buying cheap Chinese made landfill junk) which is now called the automotive sub-prime market.
personally, i don't have any respect for those two old farts after he made that statement in the end, not every boomer is cashed up.
you're born poor you stay poor.
SCAPEGOATING IS THE EASIEST THING TO DO WHEN SOMETHING GOES WRONG
4:39 House is the most important thing. No house no family.
Leon Degrelle Who wants a family? MGTOW
So when they tell a truthful story the comments aren't disabled
steven vanderwoude so so so true . They are very selective
2:51 so ive been told ever since i was young to save and save and save, so wheres that gonna get me today?
nowhere apparently
The youngest Boomers turn 55 this year; the oldest are 73.
finally someone who can get their ages right. thank you. last time I pointed out old bud's age and generation in the video I got called ignorant hahaha.
Traditional Food what percentage of them are still working full time,I wonder?
Newlinjim :
Also whether it's out of interest or necessity ?
60% of Aussies didn't need to go beyond primary school education.
I was the only child, that was bad! Kids don’t need much stuff and private school doesn’t make much difference.
7.30 report on Byron bay backpackers?
Back in the day, we retired, lived our three-score years and ten, and dropped off the perch. Now we insist on keeping everyone alive and supported by government (at both ends of the life spectrum), including the increased number of single-parent families. We have generations of people alive now (not just boomers) who depend on government support. Is it right? Is it wrong? What's the solution? Who knows? We've made our choices and now we must figure out how to make it work.
Exhibit A-Japan
Exhibit B-Basically all of Western Europe/UK
Exhibit C-South Korea
Thanks for playing Australia.
CORRECTION Those Over 50 can't get Employment !!!!!!
AND CAN'T AFFORD TO LIVE ON NEWSTART EITHER.
He worked 23/24 hours a day. Sure mate.
Joel the part time Uber driver doesn;t know the half of it.
Baby Boomers had it MUCH easier. How much did their house cost, compared to the income they were earning ? Did they ever pay for their education ? Did they pay for healthcare ?
sifiska they had interest rates at 15%
@@xkimopye Yes. I lived through those periods. I'm a Gen-Xer. Compare it to wages they earned, and the price they paid for their houses, compared to household income and you will see that it was still MUCH cheaper than what we have today, with low interest rates.
Don't forget they earned a good amount of interest on their deposits.
Also don;t forget that if you were a Boomer and bought your house during the 70's, which most did, economically, inflation basically paid off your house.
Boomers had it MUCH easier than their fathers generation, and their children's generation.
And don't be fooled. The constant boom-bust cycles we have had since the 2000's has benefited them more than anyone else.
sifiska me and my partner are right in the middle of gen y and we are both doing it a lot easier than our baby boomer parents did. It was surprisingly easy to buy a house and we are close to paying it off by our early to mid 30s, our parents didn’t have that luxury with 15% interest rates compared to our 3-4%. I just see so many people our age completely blow money in overseas holidays and car loans and unnecessary latest gadgets, too many gen Ys are so dumb with money so will never save up for a house.
Im guessing gen y just weren’t taught well financially
@@xkimopye they also had job security, inflation and massive wage increases too... those high interest rates didnt last for the life of their mortgage inflation/wage increases ate away at the mortgage later on anyway, in real terms.
David Chaplin not lying, actually the interest rate was 17% in 1989, the average Australian house was $132,000, so a full loan on an average house is around $22,000 in mortgage repayments per annum whilst the average Australian wage was only $27,000.
In contrast to today the average house in Melbourne is $793,000 interest rate is 3.5% so the repayments $28,000pa for the average Australian wage being $83,000.
It wasnt hard to buy a good house as a gen y, I did it as a second year apprentice on a wage of around $12 an hour. But I did what others didn’t and got a second job in a supermarket which is where I really made my money. Others wouldn’t do that. Others prefer to cry that previous generations had it easier.
They reach around 70 and not learn enough. Drinking white wine with a bbq.
More high immigration globalist bullsht from the ABC.
@Bainsworth
👍👍🍷🍷🍷❤🇦🇷
Big bold title for a report that tells us NOTHING!
11:50 why should I take life advice from some bloke who lives in a caravan lol
sick nums because you one day may find yourself living in a tent.
if this is the ABC reporting ...you can bet your life ...its 180 degrees form the truth .
A very nice documentary. I am always surprised by how sharp Adam Kohler's reports have become. I am not in Australia anymore but these videos help me stay updated with what is happening in this nice country.
Watch Heise say's, he explains everything. 👍
My response to that last bloke: "ok boomer"
honestly, he's kind of right though. We're under a lot more social pressure, but the level of convenience and lack of skills development does push us into spending more disposable income rather than a "fix or make do" mindset. Boomers experienced great policies, but younger people have had wild levels of access to cheaper, open-domain knowledge (internet, international vacation travel) and cheap small capital (tools, clothing, cloud software, online 2nd hand economy) for personal growth. Informed, frugally driven personal choices are really lacking in this media drenched age when every problem has a new product to fix it, rather than a skill you can acquire to manage it.
Mate, I'm 55 & I agree with you.
@@jo_mo_yo3726 I feel like the big issue that you're eluding to here is the fact that as the world and eventually our economy heads towards automation there is less handy-man and labour based skills available to society. Not to say that people are less skilled but skills that a generation ago were valued have become obsolete due to the fact that you can't both dedicate time to being skilled in house and item repair and lets say an IT manager for a growing company as well as the fact that an IT manager would not require these skills to achieve his job goals (therefore these skills are kept through absolute necessity or hobbies). In terms of boomer policies vs access to cheaper/open-domain knowledge the education may be cheaper but more of it and more time is required to get to the same financial position these boomers found theirselves in at our age. No wonder that stagnant population growth is a factor, if it takes +2years to finish high school and +3years to finish one bachelor/apprenticeship and wage have grown x2 in a housing market that has grown x4, people find themselves at 28yo when they are have found the housing, social and family security that boomers found at 21yo (having left prior to finishing school (grade 12) and going straight into a job). Finally the frugal issue you mention is simple psychology, if it takes the bottom 50% of earners 28years to get to the same position their parents were at 21years it makes sense that we become discouraged amidst the continuous speculation of housing price, the insecurity of jobs and failing businesses. Of course youth are going to spend it if they can because the alternative of locking yourself into debt (with little to no money for luxury items) for 30years+ seems like a disheartening and bleak existence and that's if you don't get cancer, or lose your job, or have an unplanned pregnancy, or your business goes under in a recession.
jo_mo_yo - well said.
RaFari1119 Bee - True enough. Interesting and very difficult times are coming for the average human. Enjoy what you have while you can.
But Immigration is not bringing economic growth
It is. Immigrants spend money, it's as simple as that. Immigrants buy food, clothes, homes etc. They pay taxes on all of these products. Those taxes go back into government coffers. Migrants aren't your problem. The enemy is big corporations that fail to reinvest locally and governments which fail to adequately spend tax income. It's easy to blame migrants because they seem more tangible and "accessible".
2,200,000 working visa people in Australia in 2020.
That is two million, two hundred thousand non citizen's working in this country. Easier to blame older working Australian people than risk being called a racist and discuss "THE" problem.
allow more foreign immigrants, such as from Finland, Sweden, Denmark, the UK, do not do what the current US is doing.
@@Azz Lazz : The same as what is happening across western Europe ,and the most western countries . The coudenhove - kaergi plan , the powers that be will not stop until their agenda is complete . The destruction of white peope .
Just gonna kick my feet up and watch this system fall apart with a nice cold beer.
Australia has so much potential and to see it being mismanaged is disheartening they should do something about it and in every sector.
1. For the Agriculture sector you have poor soil so start a campaign to improve soil quality among farmers, also there are certain high value crops that can tolerate and even improve poor soil.
Go for high value products like quail eggs, gourmet mushrooms etc.
2. Tourism is a great industry for Australia because of its climate, nature and wildlife. Think of starting businesses connected to that industry, hostels, restaurants, equipment rentals, tours, charters etc. You might want to look into eco tourism which combines agriculture and or ecology with tourism. Many people like to be educated on vacation rather than see sights, cause it can be more life changing.
3. Start a silicon valley there push your leaders to invest in gettting the fastest internet speeds there. It will incentivise big tech companies to relocate their firms there. What programmer wouldn't want to live there? It sure beats a factory.
These are just a few ideas please feel free to add to this. We love Australia and want it to prosper.
Name the nose or stop wasting our time.
Trouble is most of the wealth is tied up in real estate. Australians are too risk averse to invest in start ups or productive enterprises.
Economists don't seem to care about the quality of GDP. Despite all the so called growth, the per capita GDP is stagnant and many feel their quality of life is decreasing.
It is unfair to compare the number of taxpayers with the number of retirees. There are other dependents in our community apart from older people.
In the 1960s, women had more children and stayed home to care for them. in the 1970s, women started having fewer children which allowed them to get jobs and become taxpayers.
Children are extremely dependent for the first 8 years of their lives, unlike retirees, many of whom are self-sufficient.
In the 1960s it was common for families to have 3 or more children and a dependent mother looking after them. That makes a ratio of 1 taxpayer to 4 dependents.
Now that we have fewer dependent children, we ought to be able to take care of our retirees.
Judging from the comments, most Australians seem unhappy with immigrants. I've seen this sentiment in UK and US as well though both of these economies have greatly benefited from immigrant skills and work morale. And they do work harder than locals just because they're 2nd class citizens apriori.
But immigration is just an easy target for a problem which is political - ever inflating debt-based economy which needs more and more workers, "productivity" and young people to keep inflating until it can't anymore. Until you revolt against central bankers and their cronies, you shall not have sound money which you can lend to each other via the internet, avoiding the middle-man. The technology is already here but it is up to you guys to start change.
Good luck from Latvia.
Australians are experts at giving excuses.
If you chase away all immigrants, they will still complain of the economy as they are lazy to acquire the necessary skills.
Every great economy is self sufficient to some extent. But Australia can not boast of any strong technology company. They depend on China and other European countries for most solutions and trade.
You are wrong about the US: the US has never had an issue with legal immigration until it was abused by the gov't and their crony capitalist friends that abused the work visas to the detriment of US citizens. It's the massive inflow of illegal immigrants that has the US concerned! You are also wrong to generalise about immigrants willing to work harder.
@@Rockymtway98 I said I've seen, that is, talked to local people who complained about as much, not generalized about nation states anthropomorphically, lol.
And immigrants working harder is just a hard fact you're apparently ignorant of. I've been an immigrant and my family have been immigrants (some still are). They and everyone they know work harder than locals because they must. In fact, they get those jobs rather than locals because locals have higher standards in terms of pay, working hours, etc. The same happens in our countries when immigrants from states with even lower standard of life come from. It's the same no matter where you go.
Yes it’s nothing new, my family arrived here in 1969 to fill jobs that Ozzie’s didn’t want to do, we worked hard and made a good life for ourselves which only created resentment towards us.
whatsupbudbud the problem with our insane immigration growth is people do get pushed out further from their work. So I average 3 hours a day just wasted on travel to and from work, I have no problem with the immigrants themselves but damn it is just far too congested in my city and it gets worse every year. I would even support a one child policy in my city to ease this pressure, if that takes it too far then just ease up on immigration.
Immigrants generate value for Australia, without immigration we'd be like Japan, a stagnating economy slowly dying. Actually far worse since we are less advanced than Japan when it comes to Technology and production. Problem is not the wealth immigrants and trade creates, everybody knows global trade increases GDP while isolationism is doomed to fail, that's economics 101.
Problem is all the wealth generated by immigrants goes to the top 1% while majority us only get the negatives of it. That is why need higher taxes for the outsourcing corporations and the wealthy who own them. Don't forget though majority of job loss is still caused by AI and automation which is still untaxed and unregulated. This problem is global, watch Andrew yang's take on it for America.
The very wealthy and the status quo want to escape-goat immigration and play you for fools so you never know the real cause of the stagnation of the middle-class.
No they dont
@SAM ok incel
The Japanese are doing just fine. If their elderly want a job they can get one, even a part time job.
Then stop importing seniors!!!
The true problem is the world is more linked than before, by internet. Many skilled jobs can be done online, by equal-skilled people from low income countries. Yes, skilled jobs like accounting and programming! Imagine what will happen when all skilled jobs been sucked out to overseas? This country will end up without skilled professionals! Why people bother learning it when they cannot find jobs in the industry? And then, related industries move to overseas (like GM Holden, closed it’s manufacturing some years ago), and the country is dying!
Yes I am a Chinese immigrant (some people can start your bashing, but racism cannot save this country nor solve your problems), I know well how people work in China. A Chinese programmer normally working 60-80 hours every week with shitty wages. And programming jobs can be exported online! Of course some companies will move their programming departments overseas. Because businesses have their incentives to cut cost!
Right now rich people become richer, and poor people suffering more than before. How to solve out? Govt need to do more to protect the industries and the people! Helping skilled people to secure their jobs!
Genealogy Matters self-seclusion or isolation is never a solution. China is developing 6G tech now and Australia have no 5G. As a Chinese I know better of self-seclusion, which is slowing down of technology developing. Simply because you will have less tech import when you closed your door to the world.
Besides, how can you cut the internet? If people can use internet, companies can always find cheap workers online. I can pay $20 to hire a Chinese programmer to do some simple jobs online. Check “Taobao APP”. There must be other solutions rather than self-isolation. I know a lot about “walls”, it’s not working.
The better solution is to reduce the housing price, make homes affordable, and increase people’s income. People can be more creative when they have more cash in hands. More entrepreneurs, and more jobs!
Genealogy Matters of course I am not pro Chinese government, otherwise I won’t make my way here. I felt Australia was more humanity when I came here. I am only commenting with my understanding of the problems in Australia, because I hope Australia can solve out those problems. At the end of day, it’s problems everyone need to face. You talk too much about politics, but sorry I am not a big fan of politics. Yes I am focusing on economics, and technology. Those are mostly linked to normal people.
You would think no-one ever aged before. Is this a new trend or something?
Giving them free shit taken from others by force is a relatively new trend, historically speaking.
I know. The whole video I’m like, “but we all knew this was coming.” It’s not exactly a surprise that the Baby Boomers have aged 🙄 Useless governments never thinking beyond their 4-year term.
The quickest way immigrants get rich in this country is to buy a cash rich business and not declare their cash income. You have to ask for a receipt after a purchase because they sure won't offer one. The "Hard Work" label is an absolute crock of bulldust.
Here is a scary fact for you . Indians are incapable of Governing themselves , hence the appalling and Hellish condition that India is in.The Geography and Weather in India is great which reiterates the truth to my above comment . Last but not least , Aprox. 80 percent of the population in India want to immigrate to a White Settler /Anglo Saxon developed and founded Nation . How is that for a Nightmare . Sad Indeed .
Joel is always on!
Yes -future china.(melbourne almost is) no against immigration but if every immigrante is asian and buys property for 3 times higher price than market price -becomes scary.
Well I just took the plunge in the housing market and I have got tired of trying to make sense of it all. What I do feel is that ultimately it's the low interest rates and growing household double incomes that has driven the cost up the most. Whilst I think the older generations had it hard early in their day, I think they will still have benefited the most from that early investment where the first world has seen significant change, this would explain why the issue goes beyond Australia. Interest rates can't really get any lower, and dual household income is hardly going to grow much more either, there doesn't seem to be any salary increase any time soon either. What else is there left to keep fueling the price increase?
There are simply too many people on the planet with finite resources.
How ok boomer of him at the end smh.
There is so much about Australia & the global picture today that cannot be compared to say the
60s to 2000s so cannot agree with the gentleman here. I'm in my 70s and and from my teenage years
into my 40s there were many more job opportunities than today, cost of living was far less, housing
was cheaper relative to one's income etc etc. I would hate to be a late teen today trying to make sense
of how my future might look with the general costs, job options, accomm costs etc! I feel very fortunate
that the bulk of my life unfolded in the period it did and I will feel forever grateful that I actually had
the beautiful life in Aus that I did. The Aus I look at today scares me!
If only I cut back on that smashed avocado toast every day I'd be fine!
OMG, the boomers always mention the avocado and soy milk lol... like it's laced with gold...
People,DO Not go in retirement home owned by Indian's..
l o l... I don't wanna have to take my shoes off...
Don't support any of their businesses if you can because they sure as hell aren't supporting Australian businesses.
@@CN-wt2bj It's wrong, out of my expenses, 95% goes to Aussie business and less than 5% in Indian Grocery Store
Lol
"too many influences for expenditure" TRANSLATION - "these millennials and their avacado toast".but he's right. We do have expenditures like expensive housing , expensive education and living costs. I bet you he has five houses or whatever.
The scary thing is he has that line pre-prepared. This is not the first time he has used it. When he did it the first time, everyone present was agreeing so now he is repeating the argument at any opportunity, to anyone who would listen...
The old guy at the end has the typical attitude which is half the problem. Australia relies on importing young, fully skilled immigrants (so the country has no cost at all in training them) who on top of their existing debts have massive visa costs and 4+ years minimum with no access to benefits they pay taxes towards from day 1. These immigrants then go on to become Australian citizens, however their financial situation is very different to boomers who were helped by the government every step of the way and able to buy a house 30 years ago when houses cost two or three times the average yearly income. As a young immigrant myself, following the boomer's advice and cutting out 'unnecessary' expenses is hardly going to save me $1m needed to buy a house in Sydney. I highly doubt that if 30 years ago, someone told him to not have a pint down the pub he would have listened.
What about Stagnant Wages & Housing Affordability - How many years of average income it takes to buy a house? (which has gone up drasticly in the last generation).
These days you either give up on owning a home or throw everything you have at the dream and leave no money for anything else. Doesn't leave many spare $$ around to feed back into other sectors of the economy.
Wake up viewers...... most of these numbers are very inaccurate and proposed by non professionals with unproven theories. Humanity has been blessed with the ability to solve problems like this before and will continue to work it out.
Hard work and deferred gratification are just a few of the endless resources in great supply. Fear rewards no one!
This is why "OK boomer" became viral.
I wonder why less Australians are having families....??? Most expensive housing in the world? Large debt after completion of university? High state of living costs? Nobody can afford a family anymore. The Government needs wake up!
AND we didn't even mention the incel epidemic...
@@sanctuaryism In your area?
@@shanemitchell5807 WORLD WIDE. you seen any local classifieds or dating profile these days lol... lets put it this way... old bud in the video can sit back all cocky because times were a little different for him.
house prices have almost tripled in the last 20 years where i live, wages have basically not changed. How can you expect people to afford anywhere to live. I tried getting a side job delivering food and even all those jobs have too many people doing it. boomers don't understand what it's like, it's basic maths if you spend most of your life paying off a house because that have tripled in cost, then you have no savings to live off.
Well, I am living in Melbourne and the city became overcrowded, the infrastructure is old, not efficient and the job market is shrinking. Most immigrants coming from cheap labor and overpopulated countries like India, China and other Asian and Islamic countries in couple of years the country will be part of Asia. Do not expect salary rise, just only living expenses rise. No stable industry, just only services, also with this type (source) of immigration the Australian quality and productivity will decrease, I guess Australia (Melbourne) in couple of years will be not nice place to live, very expensive, overcrowded, aggressive and "black"........housing will look like shoe box for incredible price, me as an European with the skills I am considering to move back to Europe (Not to Western, but Eastern) and have much better life style there than in Australia. Those who still thinking that this country (Australia) has bright future, just look around and wake up. It can't be better, but worse.......This country must change the attitude, starts efficiently planning, organizing itself and not do just short cuts, (maybe the Australian politicians should go to Switzerland or Austria/Germany to learn about planning and efficiency) then might be a chance to get somewhere in the future, but I do not believe on miracles.
Yes please go back to Europe! We dont need your type here
@@peteroconnor1171 Yes Peter, i will go, because I have more options, your reaction to my comment doesn't surprise me at all. Typical Australian response, you do not like this "lucky" country so we do not need you here, so people who point to some things which are not good and telling the truth, because they would like to improve something for better, should leave, yes and you are right Australia doesn't need such a types of people as me, you need more Indians, Chinese and Africans on welfare, which you slowly getting. Well Australia was a colony, is a colony and stays a colony also in the future. I am not the person who are melting about how Australia is a great country, because if you look around you will see is not anymore. I am realist and can compare.
Funny watching this old guy being driven around by his replacement.
Good on them
What you get when your entire existential basis as a country is GDP.