Biggest problem is most people don't realise all money is based on debt, either private or public, if private debt is lacking then only public debt can maintain the supply otherwise we fall into what they call a recession and that just means less money/debt than before but if there was less debt/money being issued the public would then vote them out. How many will vote in a person on a platform of less money? Probably none, but if they went in on a policy of less debt people would, the biggest problem is most people don't understand money in the debt based system.
@@stevethewizard6502 I think maybe 1% realise it is all banker debt at a cost of around 4 cents per hundred dollars to create. Make people realise all money is debt and we pay with our lives would be a great start imo.
"He who doesn't deny, accepts" All the more reason forALL of us to collectively resign from corporate Australia, rebut their bs unlawful regulations and start our own assembly, under the true commonwealth of Australia. The current commo club know it, and these incompetent insects are laughing at us. The australian government is not commonwealth of Australia ! We the people are the commonwealth and even Queen Elizabeth said it is up to us. She smelled the rat when Bob Hawke developed The Australia Act 1986, which was not formally signed and agreed upon by Elizabeth; she just signed the front page, its unofficial. The commos also changed the seal of Australia in the 1960s elusively sending a letter to the Queen but she did not rebut. Her silence speaks volumes.
Problem is the whole system is built on corruption... it's grifts on top of scams on top of ponzis..... it's such a convoluted spiderweb that it's hard for the average person to see, though.
Australia is heading for a currency crisis, we still have entrenched inflation that has been allowed to remain high for 3 years now. That is quickly eating away the value of the AUD by devaluation, then we have imported inflation in the form of a weaker AUD leads to less buying power of imported goods (and Australia imports everything). I can't see anyway that the RBA can cut rates without damaging the AUD further thus leading to more imported inflation.
Deficits forcast for the foreseeable future. Debt not being dealt with. Unless there's major economic/tax/monetary reform eventually the current system will collapse. Technology allows the new system to be fully controlled from above. Get your descendants prepared for a 1984 world in the social centers or a Mad Max world in rural areas.
Love listening to these talks. Thankyou. I am a baby boomer who wants property prices to go down. I am horrified at the disaster we are doing nothing to avoid.
👏👏👏👏👏 now tell your local State and Federal Member that. Because they only hear from Boomers when they try to remove their taxpayer funded lifestyle. But we'll done for having an alternative view.
I went cycling around north.east victoria and i met 3 people who were in difficult housing situations. One said he was moving from camp site to camp site with his caravan. Another was living in his campervan and another was living in a caravan at the back of a house. All these situations werent an utter disaster but it wasnt ideal. They were all middle aged men
I've worked in mechanical/manufacturing design my whole life and although it's always been outweighed by civil work it has now gotten to the point where 99% of the jobs are infrastructure related. There is basically no manufacturing work left. Having worked in defence and civil/comms I can say those companies are so dysfunctional and inefficient it's scary. They are horrible to work for as the information flows through government channels and things end up getting done 5 times over in the worst way possible. It's just an unrelenting frustrating grind where everyone hates the work they're doing. This is the reality of employment as a government contractor that so many people now face.
so if houses go up 7.5% per year and your wage goes up 2.5% per year your going backwards already. i've been chasing the train long since it left the station can't catch it doesn't matter how fast i run.
@paulie5037 try not to give up! It may seem unlikely at the minute BUT there is a PERLITHERAH of rebel economists that say we are going into a 1929 to 1939 depression but on steroids and more prolonged. The crash will bring down houses significantly if u have money u possibly could buy a house then BUT don't trust the bank with your money either! All we are is an "unsecured creditor to the banks on their terms &conditions! When they collapse! U loose your money! 4get the government $250k insurance guarantee u still are not protected!
Unfortunately Australians have been fed this nonsense that governments are the solution to all their problems - housing costs, fall in standard of living, climate change, child care, poor wage growth, health care - you name it, if you've got a problem expect government to fix it. Trouble is this comes at a cost. Rising taxes, charges and more levies. But there is a more sinister cost they forget. The cost of unproductivity and inflation. See government’s are inherently more unproductive than the obvious other solution. Lower government involvement in our lives. Governments have a role in policing the border, sovereign protection, law and order, and the provision of basic services - sure, but they are even failing at that because they have not stuck to these fundamental roles. They have drifted into the art of telling us all what to do and how to lead our lives, instead of sticking to their knitting. It's been a slow slow drift and it's a slippery slope to more national wealth destruction. Unfortunately this won't end well until people wake up and vote for governments who promote lower laxation, less direct involvement in the economy, and a hand over of responsibility to individuals and small business. This means all government. Local, State and Federal. And from all political spectrums. The right is just as bad as the left at the moment. Socialism is a cancer that has slowly infiltrated our country and is going to be difficult to root out and remove. Australians need to ask themselves whenever they step into the ballot box, "Am I voting for more of this government creep into my life". Or am I going to make a difference and vote for whoever stands up for their individual liberty and a smaller government footprint in society. Just MO
I agree with you in principle but when it comes to housing affordability governments of both major parties are entirely responsible. The last time Australia had replacement birth rates was 1976. Housing was affordable then. With a smaller population we would still have plentiful affordable housing without even building more houses. The only reason we do not is the governments immigration policies. They could solve this with the stroke of a pen. Cheers 🥂
@tarricbrooker is right about the mental health, lots of people including myself are getting depressed as years go by while home prices move higher and higher away from reach. And after listening to Clare O'Neal on Triple J, it's clear who they're loyal to: themselves, not the nation.
Indeed, that was a very revealing interview. It was also pretty amazing for the hack presenter to suggest that cheaper housing is more affordable housing. That's crazy!! I thought to make housing more affordable, we need to move to 40 year mortgages, and allow super to be withdrawn for the deposit. And cut the APRA buffer from 3% down to 0.5%. And also increase the first home buyers grant.
I walk along the beach every night near where I live. There’s definitely a significant proliferation of vans now and as I drive during my courier job I see a lot more people fitting out vans particularly in the second half of this year. I feel like I’m working for no other reason then to give myself something to do because I can’t afford to do anything. The only thing I can do is work I’m not producing anything. I’m just taking parcels for rich people which is basically just people with a credit card and shoving in their door.
No, you are working to afford the privilege of living in Australia 😁... The country fast becoming the legacy country that charges 5 star fees for the 3 star services - Nomad Capitalist's words, I agree.
The banks (aka the Australian financial system) is the one leveraged into Australian residential property (not the Australia people). It seems that we need to call out the moral hazard of allowing banks to be underregulated when they are allowed to create money from nothing (ex-nihilo) and "lend" it to people at interest. This is not the act of a private enterprise. It is only possible because of government policy. You shouldn't deregulate the banking system as it is not a private system. Personaly, I think we'd be better off with a private system, private money, no government/fiat money, or central banks. However, if we keep the system we have, the banks must be highly regulated. We can't have them speculating on residential (and commercial) property as they are right now. The government, APRA, and the RBA are a huge let down. It seems that the deregulation of the financial system was completed in the 1980s. The credit bubble is about the same age - 30-40 years depending on who you ask. I'll add that the main reason for the "return to office" mantra here in Australia is to support both commercial and residential property values. It's got nothing to do with productivity or "working together". Unfortunately if this gigantic credit bubble bursts, it will be a financial disaster on a scale that we have never seen. A monetary crisis.
Would love to see your data on millionaires per capita in Australia apparently we have 3 cities in the top 10 . All created by banks flooding the market with printed money helping anyone with equity in a home capitalise to numerous homes. I'm 63 only have a modest house just 1. Would love the govt to force people of my gen to pay tax on that instead of delivered at the supermarket checkout which affects everyone
There are multiple issues impacting. Global supplies of both energy and commodities are challenged. Increasing spraalling suburbia is increasing the cost of providing services; transport, power, communications, water, sewerage etc. The limits are being reached. Growing population due to excessive immigration is greatly exacerbating these issues.
Gentrification has occurred in the old working-class inner and port suburbs of many of our capital cities in the 1990s and 2000s: think of Port Melbourne and St Kilda in Melbourne, and Balmain and Redfern in Sydney. A great example of a recent gentrifying suburb is Redfern in Sydney's inner city.10 Aug 2022 now it’s happening on a scale even your average Aussie will be pushed out of his own country Dec 2024
Indeed, that's the reality now for many. Of course, the horrifying part, is they are now stuck in this place, because it takes quite some money to move abroad.
Spot on Tarric! We are caught up in vicious cycle of corrupt monetary reward swappers. Gambling on the gubbermant, is like playing Russian roulette with a federal or state-issued loaded pistol.
You had two great points that you didn’t connect very well guys. We went from 18-20k public housing approvals pa to less than four. Let’s say it averaged 10k missing homes pa. Over 54 years that’s over half a million missing public houses. Financialisation/cgt/neg gearing for housing is NOT the problem. It’s massive drop in housing supply by the govt which increases the demand for rentals and reduces the total housing supply. Btw the non market jobs growth is truly terrifying esp if this number doesn’t include govt consultants.
Back in the 1960’s it took mum and dad 6 years to pay off the mortgage on the block of land they bout and built the family home on. These days you’re lucky if you pay out your mortgage in 20.
RBA is fully responsible for the high property prices. Reserve Bank number one priority mission is to maintain price stability. The last governor and the present one had allowed money to flood the system at near zero interest rates which only force up the prices of assets which include property as well as stocks. This is not sustainable and people will suffer. The incentives to own properties will drive up prices further. The winners are the banks which could lend more and more money which increase the risk of borrowers who are forced to borrow more and more. The previous RBA governors prior to the last one did their jobs well and raised interest rates to 7% or more to maintain price stability when the government of the day spent like drunken sailors.
Australian banks robbing us & government mispending and giving away our assets since the 70's is to blame for where we're at......not Trump! We will likely go as low as .50 within 2yrs and zero of that has anything to do with trump who isn't even in office yet. Australia must take responsibility for their own failures to benefit from its vast riches before it has any chance of being fixed.
We can look forward to more OS investors buying our houses which will appear cheap to them when our currency goes down. Remember our government doesn't want house prices to fall, devaluing the currency must be their solution.
@kerrimackay521 when we rely so heavily on imports, they can only let the AUD fall so far before imported inflation will ensure rates have to stay higher for even longer, which would then stop the AUD falling any further... as he said, a lot of borrowers could be hosed... then again, if Trump actually pushes tariffs and it isn't just a threat, we could be flooded with cheaper Chinese goods that are uneconomical to sell in Murica, so time will tell
32:20 indeed, being able to change a typewriter ribbon didn't require IT. Neither did changing the ink tube on a Gestetner machine. They even had sealing wax in the supplies in my first office job. Don't forget the filing systems!
8:58 the train is leaving the station. Why catch the train? There are other options. I moved to a regional town. More affordable. Got solar panels. Electricity now more affordable. Got an EV. The tyranny of distance has been reduced. Mind you I'm too lazy to run these days. But my super power was to live within my means. Even on the dole. BUT wow this year. The dole doesn't go as far as it used to. This year the dole could buy 3 TSLA. Now, it can buy 1 on a dip (and dips these days don't last long).
actually know two people who rent space in peoples back yards to put up tents in South Aus.. & there are guys living in tents in the big creek down the road. Many of the old caravans you see here and there have people in them (not the flash ones they belong to those who got well off from the boom & don't want to rent them out lol, only the old crap vans that otherwise would have gone to scrap get rented out)
Well it is, but it needs to be sustainable. We are a young country and can support a growth in population. But two things need to happen. It needs to be at an appropriate rate so services can keep up with the demand.. And those people that come here need to understand government is not the solution to whatever cultural, religious or economic woes they bring with them either. On the whole new migrants are very productive people and contribute greatly to society. But if they also slip into this socialist "my government can fix all my problems" mentality, or bring those attitudes with them, it only gets worse. See my post below. 🙂
Biggest issue (after putting 90% of the bureaucrats and parasite class into prison) , is figuring out what we are actually aiming for as a society. They will always talk about GDP and charts showing abstract numbers going up (that lie half the time anyway), but what is the actual goal for society ?
A couple of flaws in the arguments here. The US is not a free market economy. Government assistants prints the money. The private landlord / rentier class is hording the wealth, hence the power and the influence policy and legislation. Also, government need not borrow money.... They print it.
22:20: Ah yes, the lucky county. It doesn't feel lucky for me, but it does look like everyone in Brisbane has just crazy rich. Aside from myself, I actually don't know if even one other person is struggling.
Yep agree, everywhere I look in Brisbane there's houses getting significant renovations, houses still selling within days of listing for significantly more than they would have got 3-6 months ago, shops are absolutely pumping with people. Was at Chermside the other day and asked a shop assistant in Country Road how busy they'd been and she said it was mayhem with everyone spending big and buying heaps of new things. This doesn't seem at all like an economy struggling - I keep hearing people are struggling but the evidence on the ground shows the complete opposite?!
@@jezg084 Indeed, that's what annoys me with this constant cost of living crisis narrative everywhere. It just doesn't come close to what I'm seeing on the ground. Yes, I'm not doing well, and indeed I'm sure many others aren't also, but most seem to be doing exceptionally well.
@@williamcrossan9333 agree. I’m getting sick of hearing this narrative because the reality of what I see on the ground just doesn’t match. It’s frustrating as I’ve believed this narrative for a number of years now which I used to justify not getting on the property ladder and in the meantime property has virtually doubled leaving me significantly worse off financially as a result.
The housing cost maybe a failure but our education system gave my kids a good enough education that they now understand the math in not having any kids. 🎉
The truth needs to be told as it will set both RBA and the Labor government free of the continuous talking down of the economy from both media and those households wanting the easy availability of credit. Clearly interest rates need to rise when you look at the 2 year bond price and the AUD against the USA. Productivity can only get us out of this 2 income debt fuelled economy created around an ego, socially driven and emotionally charged Property Ponzi scheme. Unfortunately all roads lead back to corporate media (Real Estate).
Seems like when the markets get going the same factors like bottlenecks etc. pevent improvement causing the thing to get screwed up & hold back gains massively contributing to poverty.
Great videos very informative and you started talking about gdp, just wondering think of it as a magician trick we are watching the left hand while the right hand is doing the trick, now since 1980 the interest rates was 18% now it went down to 0% so over 40 years, and say the economy grew at 3% and inflation is at 2% every year, so minus of 0.5% for rates and 2% for inflation so the true economy only grew at 0.5% avg per year for true gdp wealth. just food for thought.
How good was a one income productive economy where one went down the pub after work but instead it's a two income debt fuelled economy where one has to pick the kids up at Day Care 🙃 progress🤦
@@Andre_XX Now that is indeed true! Print a fu#k load of money, give it to the rich to buy assets, and have the working class not get wage increases above that ABS CPI measure.
A lot of today’s problems could have been solved if the RBA had some balls and increased the rates high enough. We’re now trapped in a long-term hangover all because they wanted to avoid a (natural and healthy) recession.
Havent looked in here for a couple years , same old blah blah , Martin still wearing the exact same shirt . Tarric looks like he hasnt been out in the sun since vlad was around , Go outside and smell the roses . RU OK ? look after your mental health . Listening to this is helping no-one .
Tarric is becoming unhappier and more vocal. I guess, he is from the very generation thrown under the bus. Very sad to see all of this as the deterioration has sped up and this is the future of my kids unless it all implodes and cleanses before they have to start thinking of buying a house. Until then, I will be aiming to at least have 2 deposits worth stashed away for them if they wish to stay in this overpriced legacy country (not many other viable options though that i can see for now, admittedly).
Young people don't want to believe in the ego, socially driven emotionally charged property Ponzi scheme they prefer to pay one sticker price (no inflated insurance, council rates, water rates, maintenance) and live where they want.
@@redsed1565 I suggest not listening to every video uploaded. That's what I do. Occasionally, unsubscribe for a while. The problems stay the same. The end is nigh.🤷♂
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
Tarric, my man.
Need your steady hand on happenings in the economy.
Thank you, really, really appreciate all you do.
Biggest problem is corruption. Too many little piggies have their snouts in the trough.
Biggest problem is most people don't realise all money is based on debt, either private or public, if private debt is lacking then only public debt can maintain the supply otherwise we fall into what they call a recession and that just means less money/debt than before but if there was less debt/money being issued the public would then vote them out.
How many will vote in a person on a platform of less money? Probably none, but if they went in on a policy of less debt people would, the biggest problem is most people don't understand money in the debt based system.
@@antonyjh1234 we do seem to need less money to fix the problem. Do you agree? Is there any way to convince people to vote for less money all around?
@@stevethewizard6502 I think maybe 1% realise it is all banker debt at a cost of around 4 cents per hundred dollars to create. Make people realise all money is debt and we pay with our lives would be a great start imo.
"He who doesn't deny, accepts" All the more reason forALL of us to collectively resign from corporate Australia, rebut their bs unlawful regulations and start our own assembly, under the true commonwealth of Australia. The current commo club know it, and these incompetent insects are laughing at us. The australian government is not commonwealth of Australia ! We the people are the commonwealth and even Queen Elizabeth said it is up to us. She smelled the rat when Bob Hawke developed The Australia Act 1986, which was not formally signed and agreed upon by Elizabeth; she just signed the front page, its unofficial. The commos also changed the seal of Australia in the 1960s elusively sending a letter to the Queen but she did not rebut. Her silence speaks volumes.
Problem is the whole system is built on corruption... it's grifts on top of scams on top of ponzis..... it's such a convoluted spiderweb that it's hard for the average person to see, though.
Tarric is a superb exonomic commentator. Lets support him.
Australia? I thought it was New India.
I thought southern china , they might have to fight over it
Korea 🇰🇷
China 🇨🇳 Philippines 🇵🇭 &c. The Yugoslavs are returning to Europe. 😅
Australia is heading for a currency crisis, we still have entrenched inflation that has been allowed to remain high for 3 years now. That is quickly eating away the value of the AUD by devaluation, then we have imported inflation in the form of a weaker AUD leads to less buying power of imported goods (and Australia imports everything). I can't see anyway that the RBA can cut rates without damaging the AUD further thus leading to more imported inflation.
The inflation is primarily caused primarily by immigration......
Yeah, I'm concerned about that
Australia is heading towards 2 consecutive years of contracting per capita GDP.
Does this mean that Australia is in a per capita economic depression?
Deficits forcast for the foreseeable future. Debt not being dealt with. Unless there's major economic/tax/monetary reform eventually the current system will collapse. Technology allows the new system to be fully controlled from above. Get your descendants prepared for a 1984 world in the social centers or a Mad Max world in rural areas.
Yes
Love listening to these talks. Thankyou.
I am a baby boomer who wants property prices to go down.
I am horrified at the disaster we are doing nothing to avoid.
👏👏👏👏👏 now tell your local State and Federal Member that. Because they only hear from Boomers when they try to remove their taxpayer funded lifestyle. But we'll done for having an alternative view.
@@leonie563 You reckon we didn't pay enough tax? Go check out historical tax rates.
I went cycling around north.east victoria and i met 3 people who were in difficult housing situations. One said he was moving from camp site to camp site with his caravan. Another was living in his campervan and another was living in a caravan at the back of a house. All these situations werent an utter disaster but it wasnt ideal. They were all middle aged men
Very sad - lots of single mums doing it tough too
let me guess - they lost their house through divorce......
I believe there’s a lot more homeless than that.
If you import 1M people a flat unemployment rate actually means there is more unemployed people 🤷♂️
Not to mention those contemplating or making tangible plans to move to Australia too.
thats joining the dots.. too much common sense for straya
I've worked in mechanical/manufacturing design my whole life and although it's always been outweighed by civil work it has now gotten to the point where 99% of the jobs are infrastructure related. There is basically no manufacturing work left. Having worked in defence and civil/comms I can say those companies are so dysfunctional and inefficient it's scary. They are horrible to work for as the information flows through government channels and things end up getting done 5 times over in the worst way possible. It's just an unrelenting frustrating grind where everyone hates the work they're doing. This is the reality of employment as a government contractor that so many people now face.
When and where is the protest Tarric? Long live freedom! Maybe?
Weekends Before the election on the streets
They're normally organized by younger generations. They're not longer educated to know what anything means, including freedom, family, a woman.
Good analogy Martin chasing a train , to people trying to purchase a house .
Exactly!
so if houses go up 7.5% per year and your wage goes up 2.5% per year your going backwards already. i've been chasing the train long since it left the station can't catch it doesn't matter how fast i run.
@paulie5037 try not to give up! It may seem unlikely at the minute BUT there is a PERLITHERAH of rebel economists that say we are going into a 1929 to 1939 depression but on steroids and more prolonged. The crash will bring down houses significantly if u have money u possibly could buy a house then BUT don't trust the bank with your money either! All we are is an "unsecured creditor to the banks on their terms &conditions! When they collapse! U loose your money! 4get the government $250k insurance guarantee u still are not protected!
Unfortunately Australians have been fed this nonsense that governments are the solution to all their problems - housing costs, fall in standard of living, climate change, child care, poor wage growth, health care - you name it, if you've got a problem expect government to fix it. Trouble is this comes at a cost. Rising taxes, charges and more levies. But there is a more sinister cost they forget. The cost of unproductivity and inflation. See government’s are inherently more unproductive than the obvious other solution. Lower government involvement in our lives. Governments have a role in policing the border, sovereign protection, law and order, and the provision of basic services - sure, but they are even failing at that because they have not stuck to these fundamental roles. They have drifted into the art of telling us all what to do and how to lead our lives, instead of sticking to their knitting. It's been a slow slow drift and it's a slippery slope to more national wealth destruction. Unfortunately this won't end well until people wake up and vote for governments who promote lower laxation, less direct involvement in the economy, and a hand over of responsibility to individuals and small business. This means all government. Local, State and Federal. And from all political spectrums. The right is just as bad as the left at the moment. Socialism is a cancer that has slowly infiltrated our country and is going to be difficult to root out and remove. Australians need to ask themselves whenever they step into the ballot box, "Am I voting for more of this government creep into my life". Or am I going to make a difference and vote for whoever stands up for their individual liberty and a smaller government footprint in society. Just MO
Yep, ironically all while pointing at others, Greens? Saying socialism is terrible.
The problem is just that, voting. They're all corrupt crooks. Remember its a corporate grubberment. We need a whole new system.
I agree with you in principle but when it comes to housing affordability governments of both major parties are entirely responsible. The last time Australia had replacement birth rates was 1976. Housing was affordable then. With a smaller population we would still have plentiful affordable housing without even building more houses. The only reason we do not is the governments immigration policies. They could solve this with the stroke of a pen.
Cheers 🥂
My comment disappeared merry Christmas
@grannyannie2948 👍 it happens more than normal here. Sure it's just a coincidence 😉
Best show of the year kept to the end. Thankyou for your information, great summary, graphs on topic, courage when it's desperately needed.
@tarricbrooker is right about the mental health, lots of people including myself are getting depressed as years go by while home prices move higher and higher away from reach. And after listening to Clare O'Neal on Triple J, it's clear who they're loyal to: themselves, not the nation.
Indeed, that was a very revealing interview.
It was also pretty amazing for the hack presenter to suggest that cheaper housing is more affordable housing. That's crazy!!
I thought to make housing more affordable, we need to move to 40 year mortgages, and allow super to be withdrawn for the deposit.
And cut the APRA buffer from 3% down to 0.5%.
And also increase the first home buyers grant.
Australia, convicts running the country and modern slavery to its citizens 😂😂😂
I love your segments with Tarric. Good info, good chuckles.
I walk along the beach every night near where I live. There’s definitely a significant proliferation of vans now and as I drive during my courier job I see a lot more people fitting out vans particularly in the second half of this year. I feel like I’m working for no other reason then to give myself something to do because I can’t afford to do anything. The only thing I can do is work I’m not producing anything. I’m just taking parcels for rich people which is basically just people with a credit card and shoving in their door.
all the time that you stay treading water serving the rich the happier the rich are
No, you are working to afford the privilege of living in Australia 😁... The country fast becoming the legacy country that charges 5 star fees for the 3 star services - Nomad Capitalist's words, I agree.
I wish the politicians would start telling the truth which will never happen like inflation which is running around 20% maybe higher.
hey guys Stop making sence
Who do you guys think you are ?
😀
The banks (aka the Australian financial system) is the one leveraged into Australian residential property (not the Australia people). It seems that we need to call out the moral hazard of allowing banks to be underregulated when they are allowed to create money from nothing (ex-nihilo) and "lend" it to people at interest. This is not the act of a private enterprise. It is only possible because of government policy. You shouldn't deregulate the banking system as it is not a private system.
Personaly, I think we'd be better off with a private system, private money, no government/fiat money, or central banks. However, if we keep the system we have, the banks must be highly regulated. We can't have them speculating on residential (and commercial) property as they are right now. The government, APRA, and the RBA are a huge let down. It seems that the deregulation of the financial system was completed in the 1980s. The credit bubble is about the same age - 30-40 years depending on who you ask.
I'll add that the main reason for the "return to office" mantra here in Australia is to support both commercial and residential property values. It's got nothing to do with productivity or "working together". Unfortunately if this gigantic credit bubble bursts, it will be a financial disaster on a scale that we have never seen. A monetary crisis.
Would love to see your data on millionaires per capita in Australia apparently we have 3 cities in the top 10 . All created by banks flooding the market with printed money helping anyone with equity in a home capitalise to numerous homes. I'm 63 only have a modest house just 1. Would love the govt to force people of my gen to pay tax on that instead of delivered at the supermarket checkout which affects everyone
more tax will not fix bad laws
Merry Christmas Gents.
Happy holidays!
There are multiple issues impacting. Global supplies of both energy and commodities are challenged. Increasing spraalling suburbia is increasing the cost of providing services; transport, power, communications, water, sewerage etc. The limits are being reached. Growing population due to excessive immigration is greatly exacerbating these issues.
we need our own Dept Of Gov Efficiency
they will take that on notice
14:10: Indeed, I think Tarric has finally worked out that house prices only ever rise.
For many, it's too late. They are now locked out forever.
Yeah but that's so inflationary
Tarric on fire tn. Keep up good work and happy holidays
Happy holidays!
Dodging bullets on the firing range isn't as good as not trying to walk across the firing range in the first place. Fools rush in.
Betting on both the muppets in Canberra and their stooges in charge of the public service is betting on a sure thing. An sure loss.
A sign of how true this discussion is, the ads RUclips shows me on buying homes quote values that are now too low to be believable
Gentrification has occurred in the old working-class inner and port suburbs of many of our capital cities in the 1990s and 2000s: think of Port Melbourne and St Kilda in Melbourne, and Balmain and Redfern in Sydney. A great example of a recent gentrifying suburb is Redfern in Sydney's inner city.10 Aug 2022 now it’s happening on a scale even your average Aussie will be pushed out of his own country Dec 2024
Apparently it's not our cuntree, and we're certainly not fighting for it
Wise move. I took a retirement holiday trip to Europe and have only been back when absolutely necessary. Eg, renew passport.
Some traditionally low income suburbs in Adelaide have risen by 100%+ in the last 3 years
@danhato133 , 10 points, that’s the true data
Indeed, that's the reality now for many. Of course, the horrifying part, is they are now stuck in this place, because it takes quite some money to move abroad.
Spot on Tarric! We are caught up in vicious cycle of corrupt monetary reward swappers. Gambling on the gubbermant, is like playing Russian roulette with a federal or state-issued loaded pistol.
Talk Talk Talk but no one has a solution
The solutions are easy but willingness of the Govt is the issue
Love Tarric’s contribution - just stating facts
Yep, data driven to the core...
You had two great points that you didn’t connect very well guys. We went from 18-20k public housing approvals pa to less than four. Let’s say it averaged 10k missing homes pa. Over 54 years that’s over half a million missing public houses.
Financialisation/cgt/neg gearing for housing is NOT the problem.
It’s massive drop in housing supply by the govt which increases the demand for rentals and reduces the total housing supply.
Btw the non market jobs growth is truly terrifying esp if this number doesn’t include govt consultants.
Great job again.
Let me save you 1hour, 5 minutes.
tl;dw: It's all the Government's fault!
no its the peoples fault they keep drinking the governments cool aid
Back in the 1960’s it took mum and dad 6 years to pay off the mortgage on the block of land they bout and built the family home on. These days you’re lucky if you pay out your mortgage in 20.
RBA is fully responsible for the high property prices. Reserve Bank number one priority mission is to maintain price stability. The last governor and the present one had allowed money to flood the system at near zero interest rates which only force up the prices of assets which include property as well as stocks. This is not sustainable and people will suffer. The incentives to own properties will drive up prices further. The winners are the banks which could lend more and more money which increase the risk of borrowers who are forced to borrow more and more. The previous RBA governors prior to the last one did their jobs well and raised interest rates to 7% or more to maintain price stability when the government of the day spent like drunken sailors.
Trump causing interest rates to rise will plummet the aud unless rba increases interest rates too.
Either way, local borrowers are hosed 😅
Australian banks robbing us & government mispending and giving away our assets since the 70's is to blame for where we're at......not Trump! We will likely go as low as .50 within 2yrs and zero of that has anything to do with trump who isn't even in office yet. Australia must take responsibility for their own failures to benefit from its vast riches before it has any chance of being fixed.
We can look forward to more OS investors buying our houses which will appear cheap to them when our currency goes down. Remember our government doesn't want house prices to fall, devaluing the currency must be their solution.
@kerrimackay521 when we rely so heavily on imports, they can only let the AUD fall so far before imported inflation will ensure rates have to stay higher for even longer, which would then stop the AUD falling any further... as he said, a lot of borrowers could be hosed... then again, if Trump actually pushes tariffs and it isn't just a threat, we could be flooded with cheaper Chinese goods that are uneconomical to sell in Murica, so time will tell
trump is the great reset get ready for you will own nothing and being happy
@@Boababa-fn3mr what if the government don't want you to own any thing this would be good way to get that out come
32:20 indeed, being able to change a typewriter ribbon didn't require IT. Neither did changing the ink tube on a Gestetner machine. They even had sealing wax in the supplies in my first office job. Don't forget the filing systems!
8:58 the train is leaving the station. Why catch the train? There are other options.
I moved to a regional town. More affordable. Got solar panels. Electricity now more affordable. Got an EV. The tyranny of distance has been reduced.
Mind you I'm too lazy to run these days. But my super power was to live within my means. Even on the dole.
BUT wow this year. The dole doesn't go as far as it used to. This year the dole could buy 3 TSLA. Now, it can buy 1 on a dip (and dips these days don't last long).
Thank you both
So, what's the solution?
Vote for a competent, intelligent government, who has the best interests of the citizens at heart. (not sure where you find that).
Presuming there is a god, we only have repentence, prayer, and fasting...
@@stevethewizard6502 Been tried countless times throughout human history with zero results. Draw your own conclusion.
@@Andre_XX perhaps there's is a largely non-interventionalist god out there 🤷♂
@@stevethewizard6502 And perhaps, just perhaps, there is no god at all.
actually know two people who rent space in peoples back yards to put up tents in South Aus.. & there are guys living in tents in the big creek down the road.
Many of the old caravans you see here and there have people in them (not the flash ones they belong to those who got well off from the boom & don't want to rent them out lol, only the old crap vans that otherwise would have gone to scrap get rented out)
what if the plan is going to plan and the people can not see it when out right home owner drops to low we will start to see equity in homes get taxed
when you look at those levels of migration, it means that you need to build a major city every year to accomodate the growth,is that really happening?
Well it is, but it needs to be sustainable. We are a young country and can support a growth in population. But two things need to happen. It needs to be at an appropriate rate so services can keep up with the demand.. And those people that come here need to understand government is not the solution to whatever cultural, religious or economic woes they bring with them either. On the whole new migrants are very productive people and contribute greatly to society. But if they also slip into this socialist "my government can fix all my problems" mentality, or bring those attitudes with them, it only gets worse. See my post below. 🙂
Living in Thailand...they have rocketed past Australia in medical efficiency....infrastructure......security...
What next ? Government owning 100% of the house.
Biggest issue (after putting 90% of the bureaucrats and parasite class into prison) , is figuring out what we are actually aiming for as a society. They will always talk about GDP and charts showing abstract numbers going up (that lie half the time anyway), but what is the actual goal for society ?
A couple of flaws in the arguments here. The US is not a free market economy. Government assistants prints the money. The private landlord / rentier class is hording the wealth, hence the power and the influence policy and legislation. Also, government need not borrow money.... They print it.
Can productively superficially be made look better under a low AUD?
22:20: Ah yes, the lucky county. It doesn't feel lucky for me, but it does look like everyone in Brisbane has just crazy rich.
Aside from myself, I actually don't know if even one other person is struggling.
Yep agree, everywhere I look in Brisbane there's houses getting significant renovations, houses still selling within days of listing for significantly more than they would have got 3-6 months ago, shops are absolutely pumping with people. Was at Chermside the other day and asked a shop assistant in Country Road how busy they'd been and she said it was mayhem with everyone spending big and buying heaps of new things. This doesn't seem at all like an economy struggling - I keep hearing people are struggling but the evidence on the ground shows the complete opposite?!
@@jezg084 Indeed, that's what annoys me with this constant cost of living crisis narrative everywhere. It just doesn't come close to what I'm seeing on the ground.
Yes, I'm not doing well, and indeed I'm sure many others aren't also, but most seem to be doing exceptionally well.
@@williamcrossan9333 agree. I’m getting sick of hearing this narrative because the reality of what I see on the ground just doesn’t match. It’s frustrating as I’ve believed this narrative for a number of years now which I used to justify not getting on the property ladder and in the meantime property has virtually doubled leaving me significantly worse off financially as a result.
Drain the swamp would help.
The housing cost maybe a failure but our education system gave my kids a good enough education that they now understand the math in not having any kids. 🎉
That cough around state debt Martin… how good 😂
The truth needs to be told as it will set both RBA and the Labor government free of the continuous talking down of the economy from both media and those households wanting the easy availability of credit.
Clearly interest rates need to rise when you look at the 2 year bond price and the AUD against the USA. Productivity can only get us out of this 2 income debt fuelled economy created around an ego, socially driven and emotionally charged Property Ponzi scheme. Unfortunately all roads lead back to corporate media (Real Estate).
Seems like when the markets get going the same factors like bottlenecks etc. pevent improvement causing the thing to get screwed up & hold back gains massively contributing to poverty.
They are wrong about a very small number of home owners want rising house prices.
Everybody that jumps on the ladder immediately shift to the camp of wanting prices up. That group are still the majority vote wise.
Great videos very informative and you started talking about gdp, just wondering think of it as a magician trick we are watching the left hand while the right hand is doing the trick, now since 1980 the interest rates was 18% now it went down to 0% so over 40 years, and say the economy grew at 3% and inflation is at 2% every year, so minus of 0.5% for rates and 2% for inflation so the true economy only grew at 0.5% avg per year for true gdp wealth. just food for thought.
Way too much governing. Federal, State and local. It's an absolute joke.
Property value goes up, rates go up,. Property value goes down, rates go up. No property then strata goes up. Up up up and more up.
People won't be able to afford to live in the home they own unless there earning decent money.
How good was a one income productive economy where one went down the pub after work but instead it's a two income debt fuelled economy where one has to pick the kids up at Day Care 🙃 progress🤦
The supply issue is word salad meant to distract and sift blame and it works.
Lobbyists 1st and citizens last= Straya
Lol😂yeah and the private sector will have our backs?
Tarric, re: efficiency - en.m.wikipedia.org/wiki/Joseph_Tainter
How did Aussies become so rich? To pay what they're paying for housing today?
By making their currency worthless.
@@Andre_XX Now that is indeed true!
Print a fu#k load of money, give it to the rich to buy assets, and have the working class not get wage increases above that ABS CPI measure.
@@williamcrossan9333 Yes, you got it! That is how the game is played.
A lot of today’s problems could have been solved if the RBA had some balls and increased the rates high enough. We’re now trapped in a long-term hangover all because they wanted to avoid a (natural and healthy) recession.
Good work and Thankyou
❤️🇦🇺🇬🇧❤️🏴❤️🇺🇸❤️🇮🇱🥷🪃🏹🙏✅️
We are welfare country..a big ponzi
Havent looked in here for a couple years , same old blah blah , Martin still wearing the exact same shirt . Tarric looks like he hasnt been out in the sun since vlad was around , Go outside and smell the roses . RU OK ? look after your mental health . Listening to this is helping no-one .
Everyone needs to buy xrp and hbar...thank me later
Tarric is becoming unhappier and more vocal. I guess, he is from the very generation thrown under the bus. Very sad to see all of this as the deterioration has sped up and this is the future of my kids unless it all implodes and cleanses before they have to start thinking of buying a house. Until then, I will be aiming to at least have 2 deposits worth stashed away for them if they wish to stay in this overpriced legacy country (not many other viable options though that i can see for now, admittedly).
Young people don't want to believe in the ego, socially driven emotionally charged property Ponzi scheme they prefer to pay one sticker price (no inflated insurance, council rates, water rates, maintenance) and live where they want.
A cynic said that Elon's GOE is cover for firing Trump's enemies, not achieving efficiencies.
It was mentioned that the sackings would be based on your social security number either ending in odd or even number.
Ready everyone🏕
📖 2024 population statement (Treasury, Australian Government, 20/12/2024)
Conservative bootlicking with tarric brooker 😂
u guys been preaching the same ol BS for 3 years+ now!
Just proves it’s not getting better
And government policies have been getting worse for the past 3+ years.
Why are you troubled? It's been a problem for 30 years, so good to see someone reporting on it.
@@stevethewizard6502 Daily is a bit much. Unless u have alzheimers🙃
@@redsed1565 I suggest not listening to every video uploaded. That's what I do. Occasionally, unsubscribe for a while. The problems stay the same. The end is nigh.🤷♂