The Australian Monetary Policy Civil War: With Tarric Brooker
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- Опубликовано: 15 сен 2024
- In my latest Friday chat with journalist Tarric Brooker, we look back at the recent stoush between the Reserve Bank and the Government as inflation remains sticky, and the Treasurer says Government spending is helping to bring inflation down.
Plus, thanks to Tarric's excellent slides we parse the latest data and delve into the mechanics of high migration, home prices, and falling real GDP per hour worked.
You can see the slides here: www.burnouteco...
Here is the article Tarric referred to in the show: www.burnouteco...
www.martinnorth...
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Howdy Martin. Despite now residing in the UK you are still bringing the best Australian economic news on RUclips. Together with Tarric you guys are killing it.
Saw it reported on ABC News earlier this week that Perth had something like a 30% annualised increase in house prices and Adelaide is going to the moon too. How on earth can they cut interest rates in this environment?
Thanks, appreciated. I agree, the latest credit data and price data signals cuts later...
$60billion investor mortgages Jan-June 2024 (Lending data, ABS) and I'm guessing RBA can see it's going ⬆️. So they are not budging. Aside from that pretty much everyone have:-
Refinanced
Gone interest only
Riding the arrears
Sold a car
Used hardship to crack super
Renting house, living with family
Lots of other ways
We haven't gone high enough because Investors aren't scared at 7% or are getting 5% with equity or other broker deals.
Agedcare becoming uncapped lifetime contribution +$40k and threats of private hospital funding regressing = public waitlist isn't impacting in consumer psyche yet. Let's see what other trapdoors they pull next.Taxing Trusts as Companies. Land Tax rollout nationally. GST up to 15%. Consumption taxes. Remove the 6 Year Rule. 🤫
But home prices have not increased equally across the various states - and you cant have different interest rates for different states. Perth did NOTHING in terms of house prices between 2010 and 2022. Over the last 10 years (even at a 20% annualised growth rate in 2024) the average annual growth rate is only 2.8% which is the WORST of all capital cities. so is just playing catch up and it has further to go IMO. Nothing will improve unless supply is fixed via building applications/approvals and that wont happen unless the cash rate is eased.
"Master Builders Australia has cut 53,000 homes from its pipeline forecast, warning long-standing problems such as slow planning and approval processes, rising materials costs and labour shortages have been exacerbated by persistently high interest rates that are stopping people from buying homes".
so RBA = doomed if you cut and doomed if you dont.
Michelle says sell Ur house
@@leonie563😮 what is 6 year rule?
The only answer both major parties have is excessive population growth via immigration intake at the expense of the standard of living!
That horse is already being flogged to death,
Decline in living standards not because of immigration but Centeal bankers policies and laziness that dont manufacture much of anything. The policians and central bankers policies have been inflating the bubbles.
The only answer for who exactly, government milking the economy, even investors are at the mercy of their solution, it’s incredibly simple, talk to teachers that actually tech building houses, then a developer that creates housing estates, peal away the layers of profit and tax, drill down into who is raking in all the bites out of the market, money isn’t everything nor is global trade, there only concern is staying in government and will do anything to obtain it, anything, believe a.b.c, the book sellers and people will believe anything
All that does is temporarily hide the GDP figures. But it has created our housing and cost of living crisis which has escalated further since they last upped the numbers.
People should join Senator Rennick's party and take the power back from the major 4 parties who have almost destroyed Australia.
I remember thinking back in the very early 2000s when the house next door to my parents in Leichhardt NSW sold for what seemed like an incredible price, something is wrong. I was 18 or so. Now at 40, living in Germany (partly because I want a life that isn't dictated by a preposterous mortgage and all the choices that takes from you) it is great to cook at home and listen to two honest sharp guys tell us very clearly what's is going on. I have been telling my dad (he is in his mid 70s and has at least 3 empty properties in the Inner West) that there is a Ponzi scheme in Australian property that is transferring wealth from young to old. He laughs and says nothing beats inflation like land banking Sydney property. And after being gaslit by government and the media, I'm very thankful for your channel and to have my own thoughts illustrated with such detail and insight!
Thanks, really appreciated...
My divorcing brother in law just sold a tarted up property in Leichhardt for $2.7 million nothing special at all average cottage no parking with difficulty finding street parking too ,bought a really nice house at the foot of the Blue Mountains for $1.3 million big house especially for one
do hope you get to return one day. I see myself exiling myself from this country soon. It's unsustainable.
Why are they empty?
@@nicolle_2944 He says tenants are too much hassle. I know our family home cost (without exaggeration) no more than $35k and he bought the rest for around the same price or less, negative gearing everything. So $35k x 10,000% is $3.5mil which it would very easily sell for as it's a double block. That's insane. He is still earning well above annual inflation even after interest rates have risen recently on every property. So you see there is no financial pressure to rent them out and no pressure from government. They're all in on the con and you can see this in graphs that show the rising number of politicians owning multiple properties overtime as the overall ownership rate falls.There would be thousands of empty houses around Sydney, but you wouldn't know most from just looking at them on the street. They don't want people squatting them. I have argued with him my dad my whole life about it. What is staggering to me is how passive or maybe just clueless young(ish) people in Australia are. They are being absolutely exploited and drawn into (in my opinion) a situation that will soon be financial ruin when the Ponzi property economy falls apart. It's fascinating with my friends. They have actually spoken with my dad asking for advice. My dad believes he's some financial wizard. Meanwhile one of my mates with his wife has a $600k mortgage to still pay off on a two bedroom, awfully built apartment significantly futher out from center of Sydney. I calculated that they are probably paying around $36k/year just in interest if their rate is now 6%. It's crazy. Why are people not out on the street. It's like the whole of Australia has drunk this Kool-Aid and big ups people like my dad when politicians should be legislating that houses must be lived in. Everyone goes on about building more houses, but there are so many just sitting empty. My honest opinion is that deep down everyone knows exactly that it is a Ponzi scheme and those that buy now are just white knuckling it like they've put a bet on a horse, and of course we need somewhere to live. I know how awful the Sydney rental market is. I lived for years in rentals where you could hear the cockroaches scuttle at night when you walked into a room. There are many many landlords who don't keep their properties empty but treat their tenants like surfs. Why are people not up in arms!? Convict mentality? One of the biggest gambling addicted populations in the world? For reference, I live in a city of around 200,000 people in Germany and we pay $1,080 month for renting an apartment of around 75m2. A little smaller than my mates mortgaged place which he must pay around $3000 month JUST IN INTEREST. What are people doing?! I know they feel like they have no choice and many maybe don't. Anyway, long rant. I love Biko Konstantinos (www.youtube.com/@bikokonstantinos8230) he rants on the same thing week after week and I deeply respect him for trying to wake people up out of their slumber. Houses are for living in, the process of financialising them was a major mistake for the vast majority of people and families.
High house prices are not wealth, they are a wealth transfer mechanism from the younger to the older generations.
Absolutely. And a massive anchor on the rest of the economy that produces actual things
If you don't want to physicaly build your own home yep😂😂
The early warning signs are in full sight for the Perth property market. Arcadium Lithium announced it will close down the Mt Cattlin lithium mine resulting in 300 jobs to be lost. This takes the tally to 8000 jobs lost in the WA mining sector since last year after redundancy announcements from BHP, Rio, Mineral Resources and FMG. This will eventually dampen demand in the Perth market. Also with iron ore projected to hit $80/tonne, further job cuts in the iron ore sector could still arise.
Very true Sir, but imo Iron Ore sector will permanently cut thousands of jobs most likely starting now but get way worse 2025/26 and permanently lost in 2027/28 as China/Rio mine ramps up in Africa plus China/Algeria massive mine ramps up Iron Ore price will imo be brought back to averages 60usd big changed ahead. Plus China is building massive Copper mines in Afghanistan and Chilli involvement. People often say oh its ok India will import well no not much as they are self reliant in that matter. Enjoy and Martin thankyou keep safe over there in Eskimo land 😊
The redundancy have started redeployment structure changes role reclassification. Gees I was hoping 2 more years.
@johnsudholz3445 yes the redeployments have started but only if you tick the the DEI boxes, if not cash out and move onto the next place.
Great Talk Gentleman, and speaking such Truth...
Love Tarric
Great chat fellas, storm clouds gathering.
Glad you enjoyed it
Jim Chalmers trying to separate RBA from the Australian Parliament, RBA Reforms Bill, section 11, from 1959 Act & placing a Public Interest Clause (so Parliament can gaol people for speaking out), cited The Citizens Report, 5.9.24, WEF, 'Build to Rent Scheme', Labor, Globalists
Everyone needs to hound Federal MP’s “do NOT remove section 11 from the 1959 banking act as doing so will remove the parliament having the final say on monetary policy within Australia and handing it over to foreign bankers. Whoever controls the money controls the country.
@@agdv62 at last somebody who understands, 'hound' fed MP's
NZ housing prices becoming more affordable is good news.
Hopefully we will get this good news here, after 4 to 5 years of very bad news.
Tarric is back!
So long and thanks for all the fish! I'm selling my house in Perth and quitting the mining industry where I have worked for nearly 20yrs now. Australia is cooked. I'm going where I am treated best.
Which is where?
Yes! This is what I want to do. Agreed this country is cooked.
You might find that Nomad Capitalist is almost landing on one if those atolls in the South China Sea shortly to become a defence base....but ya know it's tax free....anyway, try Europe it's selling pretty cheap and Russia is preoccupied on beating Turkey rebuilding the Ottoman Empire vs China claiming the bits Than this Khan wanted! How's that for esoteric. Catch you up there in a few years for a croissant
1:16: The difference between the share market and the property market is stark.
Property prices have absolutely wiped the floor with equities.
No wonder Aussies are going 'all in' on property investing.
Seems to be so many, who think this thing is just getting started. And the horrifying part is, they may be right.
It is all smoke and mirrors, just like the parliament where it is all pretent, like professional wrestling a sham act.
the term is kayfabe
Iv said it 1000 times- the Greatest Threat by FAR that Australians face are the country’s politicians & central bank. No other threat comes close.
Nothing wrong with a central bank.... 😅 I'm sorry I can't keep a straight face writing that.
Wrong. AUD is not the reserve currency.
@@Discovery2024-rn8kn did I mention the reserve currency…..NO.
@@Discovery2024-rn8knreserve currency is USD. AUD is the Aussie dollar. Nothing to do with the statement.
Great talk Martin and Tarric thanks 👍
Our pleasure!
The public service employee's are spending.
Recycled tax money artificially propping up the economy, the private sector is being smashed to oblivion.
They won't be soon when they realise their superannuation is 30% unfunded liability (ANAO, 2022).
@@remotecontrol9489 yes public servants ( self servants) and job seeker recipients after 6 months should not be allowed to vote
Australians are addicted to spending, over a decade of boom has resulted in loss of the idea of financial responsibility.
No, the 65+ age group are the ones with all the disposable income to spend, they are ones whose spending is pumping the persistent inflation figures.
@@kyliepechleri know many people in that age group. They live in moderate homes, do not have the excess funds that people like yourself imply, and are living very frugally. It's the government that is sending wildly causing inflation. And those with huge mortgages.
The productivity of government workers is often very difficult to determine. Also government worker activity often cause there to be a need for increased number of workers in the private sector who are not contributing to the production of goods and services.
Many workers in semi government sectors such as teachers, are also in areas where there is very little in the way of increased productivity.
The recent decline in Australian productivity could continue for longer than people may expect.
You are probably the most decent Australian I (an immigrant) have come across.
The government is fundamentally broken in so many areas with various powerful
Lobbying groups having completely captured our bureaucratic power system. Created through special
Advisory Committees (all overpaid) local councils and state governments which have a myriad of
Boards and ceos and sub ceos on fantastic wages spending untold billions literally in “infrastructure “ that is not required and leaving that which is required to be found in a state of deterioration.
hit the nail on the nail
The correct answer is: Because Money is created as privately controlled interestbearing debt it is destined arrive at a point in time when credit can no longer be created ex nihilo sufficintly enough to service the outstanding debt. It is known as debtsaturation. Increaseing property prices is one way of making sure that more credit can be created. Which leads to an even bigger debt that has to be serviced and so on...... Please wake up.
Been looking forward to this
6th September 2024, and I did a couple of drives across Brisbane. The economy looks like it absolutely booming. The traffic! Flipping heck, what do good times look like?
Not to mention 16% annualized house price growth.
I feel like the only one who's not rich.
When everyone works for the government where do they get the money from?
Bond?
Ask Venezuelans
When everything is financialised , where is the productivity
@@theskeptic2798 nowhere to be seen, productivity is becoming a distant memory in Australia.
@@itsonlyafl3shwound with the modern computer technology the need and demand for public servants should be declining, apparently current whipping boy country New Zealand is swinging the axe to thousands of BS PS Jobs, it'll be interesting to see how that goes.
A blackboard on the main street of a small NSW town today says:
" We are NOT all in the same boat
We are in the same storm
Some have yachts
Some have canoes
And some are drowning
So just be kind and help when you can"
Nice!
half the country is on the hamster wheel the other half is slowly burning money on the inflation bond fire , Albo’s migration
exactly, government milking the economy, even investors are at the mercy of their solution, it’s incredibly simple, talk to trade teachers that actually tech building houses, then a developer that creates housing estates, peal away the layers of profit and tax, drill down into who is raking in all the bites out of the market, money isn’t everything nor is global trade, there only concern is staying in government and will do anything to obtain it, anything, believe a.b.c, the book sellers and people will believe anything
I wouldn't say Australians work that hard compared to other countries and inaction and corruption from politicians has been evident for the last 25 years.
Migration doesn't cause inflation 😂 demand for property yes but not money supply
@@Discovery2024-rn8kneven if so, the demand increases for shelter, products and services so that pushes prices up. You could think of it as inflation too when foreigners bring money in.
Democracy does not contain any force which will check the constant tendency to put more and more on the public payroll. The state is like a hive of bees in which the drones display, multiply and starve the workers so the idlers will consume the food and the workers will perish. --Plato
The New Zealanders are moving to Australia for jobs, the Australians are moving to NZ for houses 🏘️
No Australians are moving to New Zealand, never have. Houses over there are more expensive than Australia
As a fairly new arrival to Australia, Kiwi and Oz people look and sound the same. You're basically the same people from recent arrivals pov.
@@Discovery2024-rn8kn completely different country with a different government. But New Zealand has the beneficial right to come to Australia like it’s their own country which should not be happening. Including undesirables and homeless ppl
Tons of younger Ozzies are becoming digital nomads and living in Bali or Thailand and working in a place they can love and afford 😮😮😮🎉
Until there is military coup or some wars they come back screaming
Matt Barrie's talk on RUclips this week, "Put another Aussie on the Barbie" is a very sobering picture of where Australia is currently at and it looks like it will continue to decline unless someone with some balls puts the brakes on.
Yes, he brought the data together - including from Martin and Tarric - to paint a devastating picture
The fall in NZ property market, is that due to interest rate hike or abolishing negative gearing?
both and slowing migration...
It's the RBA's job to bring down Labor's inflation with higher interest rates.
Bit hard to bring down Labor's inflation while they have their foot on the gas pedal, and the RBA have their foot on the brake!! Inflation is also being caused by corporate greed!!
@@Misslastcentury Corporations have always been greedy, nothing has changed, just like everyone else is greedy.
no government can fix this , because any thing they do , will hit the rich hardest . which will see any government that try's to fix this mess , out on there ear right quick
People have become pain-averse. That's why we have primarily Labour Gov'ts. Unfortunately we have avoided the pain for so long it is now catching up with us and will be with us for a long time.
Great show guys. So many vital observations. An old favouite quote came to mind about the 'non-productive' industry of government'.
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship." Alexis de Tocqueville
Good one, thanks...
@@WalkTheWorldDFA Yes and the new problem we have which Tocquerville did not comprehend back then - is the sheer number of 'voters' who are now 'being directly paid' by the govt = Welfare, public servants, institutions, and upwards to the tip of the stinking mess.
How many people in Australia are on 'welfare'? 23% (there seems to be an argument about this)
There were 2,430,400 public sector employees in the month of June 2023 comprising:
350,300 employees in Commonwealth government (including defence force personnel);
1,871,900 in state government, and
208,200 in local government.
a 1% transaction tax , with no tax deductions , tax advantage or laws changed to bail out failed business men . will fix every thing ,
the rich are rich because of the uneven tax system , not because they worked hard
What do you refer to as a tax deduction?
Those missing royalties from gas and minerals should make LPG free is they collected a decent cut.
Martin and Tarric are talking about Australia but honestly this could be anywhere in the Western world really.
Good point.... I fear...
Great work guys.
Thank you so much 😀
The RBA is right. The truth hurts the government's glass jaw.
Australia's economy is 8th or less on the world scale so this needs to be taken into account.
all the governemnt elites, politicians, corporate executives, property developers and real estate agents got plenty of excess cash flow to invest in more rent seeking
I’m mad as hell!!!
Watching from Canada. We've had three .25 cuts from the BoC , now at 4.25. The market here is pricing in rate cuts down to 3% by July 2025. Yet our economy is similar to yours. Time will tell all 😊 Love your show.
Oh wow!
Excellent thank you compulsory listening to
Thanks for listening
Add in car price inflation and it’s far from surprising
When bitcoin standard?
I noticed that the price of petrol has come down, petrol companies must be less greedy now, funny that.
So business's subsiding the government
What is happening to all that GST
So many analysts have been predicting this for the past few years. Still no one in Australia talks about dedollarisation and its effects on fiat currencies
exactly, government milking the economy, even investors are at the mercy of their solution, it’s incredibly simple, talk to trade teachers that actually tech building houses, then a developer that creates housing estates, peal away the layers of profit and tax, drill down into who is raking in all the bites out of the market, money isn’t everything nor is global trade, there only concern is staying in government and will do anything to obtain it, anything, believe a.b.c, the book sellers and people will believe anything
11:55 Bury it in the back yard”😂😂😂
The family home has to be classed as an asset for pension eligibility. How can you justify giving someone on the pension over $26,000 a year when they own a 2 or 3 million dollar house.
Pension should be given to everyone regardless of their assets. That's why we pay so much tax in the first place. Highest tax in the world.
Martin, I've got a question for you. Why doesn't the government temporarily increase the GST to bring inflation under control? This is a fairer way instead of only mortgage holders bearing the burden.
Because GST is a tax, does not impact money supply in circulation and credit expansion
Both these two haven’t grasped that interest rate rises increase income for the private sector
Chalmers and Swan, two hapless incompetents who only know how to scapegoat for their own shortfalls.
Never thought I would say it. But I do hope the WEF do a great reset.
Martin, you may want to consider an Australian address as things heat up in England.
' .. did migration so well in the 50s...' I think it had more to do with stimulus ( snowy scheme etc ) and the much smaller car dependent, suburban sprawl problem. We also had a real manufacturing industry with lots of productive jobs, before the invention of BS jobs.
Enjoyed your discussion. Lots of great topics! New subscriber here😊Mainstream media is so overrated!
Don’t you think it’s difficult to put Australia into the same boat as NZ? The NZ economy is a fraction of the size of Australia. Surely the drivers of immigration are also quite disparate? I don’t think Australia’s housing trend will necessarily follow a NZ trend.
Thanks for subbing!
Yeah blow some of your wealth to get s stupid pension card. Scrap pension cards and have a higher pension instead, then there will be no incentive to blow some of your wealth to sponge off tax payers.
Scrap pension card entitlements and increase the pension instead to encourage people to invest instead of blowing their money to bludge off pension card entitlements.
Mortgagees can still:-
1. Sell a car
2. Take $10k out of Super (hardship)
3. Refinance
4. Move in family 12 months, rent house
5. Take kids out of private school
6. Holiday at home
7. 2nd jobs
8. Move interstate
9. Early inheritance
10. Sell, move overseas
Your list assumes way too much.
@@heartthehorse yeah was trying to be generic, but even those with no parents can hit super, potentially move overseas or sell the car. It can be done. Only bit not done yet is moving overseas and it's a project under progress. Someone once said, "Live like you are on holiday overseas". Works to a point. But it is fun exploring that theory. Example, best Moscato $4. Icecream by the ocean via bus/train $10. Cheap movie ticket day. Friends sisters hairdresser. Car Show. Winery. Strawberry farm. Sunset markets wander. Yeah mortgage and rent is high but a good financial planner at local Council, reading what the tax avoiders read and keeping ahead of trends means you won't be completely crushed. Fed/RBA is hunting Trust funds with opaque members. If that's not you, relax. This brutality was always coming after 2 years of no financial.activity. once everyone have taken their pound of flesh, system will reset and we are off into what the next calamity looks like 10 years down the road. Go research what's going to weather that.
Consumer-led economy in China potentially benefits NZ with its farms.
So what is wrong with interest rate at 20%? I would like to see that. What is the matter " strong and Capitalist developed economies" lol. What is the matter ? Been living in credits and drowning in debt? Time to pay.
Post WW2, which people group came in to help australia. Was it the world wide population? Or was it a very specific group of people with the same ethnic background and culture?
Melbourne has turned into a zoo in the last 5 years.
More like a sewer!! I left 10 years ago and won't be returning!
I can tell you as an expat Australian living in the US, Australia is a prison colony still to this day. Especially Victoria. The US has its issues but you can buy an acre of buildable land outside most southern cities for 20k and be built in 3 months depending on your budget. Rates are locked in for 30 years and you can refinance anytime. The never ending Roman pile of of fees, taxes and sinister statutory fines for non criminal acts is plain theft for the governmental class. In prior years government employees where paid lower than private. We now have theives in government paying themselves exorbitant amounts of money to steal from us and make our lives less liveable. Australia is not the best place, far from it
100% and You realise this when you travel overseas and see the difference for yourself.
Feral kids and adults stealing cars and invading homes doesnt resemble a prison. Australia is a nanny state with too much freedom. You only lived in two countries. Your silly fixed 30 years mortgage screams one sided ignorance on underlying banking risks held by mid tier banks reminiscent 2008. Yeah America is so free people infringe on each other's freedom daily.
Some car manufacturers are moving to sodium iron batteries this will reduce demand for lithium. It's a race to the bottom no one is accounting for global recession, tech downturn, AI automation and energy shortages. Not to mention more dependance on foreign manufacturing as we cripple private companies to pay taxes to support growing government services. Our dependence on government as employer of last resort. 40% of Australia's are employed directly or indirectly by the government I expect this to grow over the years. Which will mean more of the voter base demanding more taxes to support constant public sector pay increases while private sector is performance based. For the first time in history public sector employees on average make more than private sector.
And this is truly scary
I Don't know anyone in my Age group that works. 18-40 year old males don't care about work because you can't get ahead, we worked this out in 2016 so we have been exiting society and finding ways to spend no money and just game 24/7. They consume a fraction of anyone else. What you find as a throw away is a luxury to them.
We live in shared houses of 3-6 males at a time. The dining room and lounge room is office space now. Some of us work part time jobs but that won't last because people are miserable outside the house. Some of us go to degree to degree. My friend's get degrees and then never get a job because the career is in a toxic work environments. So they give up play age of empires 2 all day instead of being a doctor or a teacher.
Not everyone is like you and your mates. I know many in that age group that do work hard. You and your mates are just lazy.
@@nicolle_2944 how are we lazy? There are no opportunities or jobs. What money are we going to be productive with. None of us have money. 90% of my friends in my age gap don't even drink or smoke or do drugs. Just waiting with mates for a better day.
You resemble the same people you associate with
@@Discovery2024-rn8kn I don't go outside. So I must look like a turtle, by that logic
Imo Australia going to get much worse,I'm definitely looking to get out in next 5 years
Do it sooner as AUD is collapsing under poor RBA and fiscal policies
@InfinityIsland2203 going to be lots of reasons to get out of Australia, but got parents to look after for a few years yet
@@jamesguy4688 I hope your parents have a property you can inherit.
@@InfinityIsland2203 got my own property
Why are people so desperate to get money from the government. I'm looking at totally getting away from the government in every way. I hate Australia as a society and nation. It's not the Australia or used to be. If you have money don't try to get the pension. Stupid and entitled.
that is the problem , the government made this mess with uneven tax . yet people think the government is going to fix it
The idea of wasting a massive chunk of your money to get a measly pension each fortnight shows the type of thinking that the average person in that age bracket has. Agree with you, get as far away from the government as you can as that’s less control they have over your life.
Totally agree bud, I don't have any directors ID my gov bla bla and never will, cash when I can , they can't even find me on the electoral roll. It's great, about to build a house in the bush and done
And haven't done super contributions for 15 years
People are not too bright, if everyone thought the same way and stopped buying houses at ridiculous prices, prices would crash tomorrow. Wait until it is back to eighties prices before buying.
1980s prices are long gone and will never return!!
Lol... you think it is Australians buying the houses?
Go to the new suburbs of Sydney and see who is buying them. Overpriced, poor quality on a 230 sq metre block with no room for a tree in the heat bowl of Sydney.
@@nicolle_2944 HA HA They can have those ones.
@@InfinityIsland2203 you know why? because the Govt knows if you stop those people ... collapse tomorrow.
It's not an issue of brightness, but the government has incentivised speculators to buy property for tax benefits
We cannot, nor should we take 400,000 immigrants per year. That infrastructure that would need to be built is still going to be on top of our farmland in outer Sydney and our homes. We do not need to ruin our lifestyles and sustainable farming for mass immigration.
Tell this to prime minister. No point ranting here anymore.
Thanks guys great content :)
Our pleasure!
Phone plan and dentist are non discretionary.
Relax peeps, all by design...
Inflation is running over 20% , when will the people wake up ?, keep voting for Labour and the Greens 🤣🤣🤣.
I was standing behind an old lady at the Coles checkout a few days ago. She had one of the brown paper bags of groceries and one other item. The woman at the checkout said "that'll be $93; I said, "you're kidding right"?. We used to feed our family of 6 and fill the whole shopping trolley for $100.
Don't vote it's giving them consent to screw us more . I would like to see what would happen if less than 50% of people voted . Would the government then have their hands tied , metaphorically speaking . They need our consent , it's supernatural that even Satan needs our consent .
Australia's flipping has already began. Australia is dependant on China (resources, wine, property, education). China is pivoting to Africa for resources SA, Simandou iron ore project in Guinea, the largest untapped reserve of highgrade iron ore in the world.
Green, WEF agenda is crippling or economy. The big housing flip has begun, supply increasing while demand has stabilised, without immigration house prices would be contacting. If/when housing contracts, will negatively impact local/state/Federally. This will then hurt equities (banking) which will cripple super funds. Potentially further crippling Government - increased taxes and reduced services.
Those that can will take their wealth to where it is treated best.
Who is John Galt !
Well if Australia becomes openly hostile against largest customer, makes sense for that customer to diversify supply elsewhere. Better to have paying customer than no customer at all, basic business sense
Any super that you get from your employer should only be available as a monthiy pension payment to avoid people blowing it all and then putting their hand out for the pension.
And if they own their own home, that should be counted in the assets test for the pension
You speak like a communist forgetting the fact that super is OUR money
@@InfinityIsland2203 Money that we pay to pensioners is our money too, super is supposed to be to help you pay for your retirement instead of blowing it and then putting your hand out for the pension, I want to self fund my retirement not sponge off the Government like a Communist.
@@actualfacts1055 in that case pensioners should sell their home to fund themselves since we financialized houses in Australia
@@InfinityIsland2203 They are doing that with reverse mortgages anyway if they didn't save for their retirement. Money that you put into superannuation is yours to spend how you like in retirement, money that your employer puts in is to reduce your dependence on the Government in retirement, that's why the Government introduced compulsory employer superannuation.
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I loved the old Australia, but these days unless you make big bucks, you're just a peasant. The egalitarianism is gone.
It does feel like we are slipping into serfdom in this country.
I can't get a head no matter what I do and I've lived debt free life style.
Hello Martin and Tarric 🙂
HI
The solution is to elect our new "queen" of Australia... the one with the answers, Pauline Hanson.
Maybe she can serve you fish and chips.
At 56 I'm glad I only started paying super.
Plenty of people are getting their inheritance early from their parents to buy a home.
Australia used to be a great country but capitalism has killed it. What we need is democratic socialism to save the day.
We definitely don’t have capitalism, we have cronyism and that’s the problem.
Governments need to take ownership over its resources. Gas, electricity, oil, banks need to be government owned. Profit going to buisness that has no responsibility over infrastructure, health, the people has no use for us
Gee... China... an economy that holds decision makers accountable long term....How can we get some of that, thank you very much.
1:12:12 nailed it
Rates are still to low. Becareful what you wish for.
I still prefer higher rates, reward savers rather than speculators, more affordable housing and responsibly business management
Yes Australia is slowing down but the rest of the world is much worse. Also China will not save us this time and WA is also going to feel some pain. The East though will be worse…
Interest rates are going to rise just as I said they would.