Lol your economic boom for the last several decades has been entirely dependent on China's voracious demand for raw material from Oz. All those mines in Western Australia are fueling a single country.
Riding of the resources boom Coat tails for too long. For six months, I’ve dealt with the same traffic lights having issues. Main arterial roads barely patched with dirt let alone bitumen. Australia is broke! Matt Shervington just hasn’t let you know in the morning while you eat your toast and sip your Coffee.
Its funny how the RBA is looking for higher unemployment at a time where things are so expensive people are working 2-3 jobs just to maintain what they have while the government keeps creating government jobs and the private sector is flat.. Maybe they should be discussing that with the government before saying the Australian economy is "resilient"
They aren't looking for higher unemployment that isn't their mandate, they also dgaf about the interest rate. They only care about controlling inflation, they set the rates to try to control inflation. It's easy to think that their function is to look after landlords and home owners, because that's the only thing that the news seem focuses on.
I will believe there is a problem with the Australian economy when we stop having record new vehicle sales and restaurants and cafes stop being so full you can't get a seat.
both of those metrics are old people, old people buy nice cars to peacock, old people fill cafe's because they love a coffee, but young people? they're stuck on unemployment living in sharehouses waiting for opportunities that don't exist, and young people are the future of the country not the living fossils
@@jimbothegymbro7086 disagree..but let me ask my best mate who is a DP at a Mazda dealer here in Sydney. But let me get this right, you're saying no young people buy cars anymore, it's only really old people. Just as a side note, you realise that "old people" sales are still going into the dealership and therefore money going into the economy, right? And that record sales are still record sales. When everybody wasn't complaining about the "cost of living" we were using that metric to measure the general health of the economy. I'll do some research, but starting at August 2024, the second highest number of car sales during an August on record. Not exactly the sign of an economy going down the drain for the past 18 months or more, is it?
@@noelvalenti8677 longest per capita recession on record and we haven't even seen the music stop yet. You're seeing the false pump of record imigration numbers barely keeping GDP crawling while productivity is at record lows. In the meantime housing/health/infra is groaning under the weight of the ponzi scheme. It's ok, you'll see it come home to roost as living standards continue to plunge over the next decade, just look at the UK for an example.
@@noelvalenti8677interest rates don’t affect people who have paid off mortgages as much as they do people with mortgage > majority of fully owned homes are owned by old people > old people continue to stimulate demand leading to inflation. RBA can’t target people with out mortgages effectively to reduce demand. Govt needs to step in and increase taxes on old people via estate tax as an example. Of course politically impossible so down the drain we go
@@arjundilip1543 government basically threw money at the NDIS for both training and wage subsidies, mainly to appeal to old people at the expense of the young, which not only wasted money that should be going somewhere else, but also took workers and expertise
@@jimbothegymbro7086 if I understand correctly, wage subsidy is when the government subsidizes the cost to companies in hiring people with a disability, am I right? I think it's capped at $10,000. Surely that's not why all of Australia's economy is slumping? Also, how does that appeal to older people? I'd like to understand. Totally not picking an argument :)
With labour inflation in Australia on the rise because every single union is going on strike for higher wages, no wonder our productivity is in the gutter.
@@theBeat2 functionally wages could increase or the price of things could decrease, they really should be focusing on housing as it's easily one of the biggest expenses people have
Only houses and holes doesn't make for a resilient economy.
As long as the average house price is close to 1.5million most home owners are happy.
@@timothydevries383 plus nursing homes and new migrants.
If we’re waiting on China to help we’re in major trouble.
Lol your economic boom for the last several decades has been entirely dependent on China's voracious demand for raw material from Oz. All those mines in Western Australia are fueling a single country.
Riding of the resources boom
Coat tails for too long.
For six months, I’ve dealt with the same traffic lights having issues.
Main arterial roads barely patched with dirt let alone bitumen.
Australia is broke!
Matt Shervington just hasn’t let you know in the morning while you eat your toast and sip your Coffee.
Heard a burrito in Sydney is 30+ kangaroo bucks. Printer go brrrrrrrrrr.
Heard a simple pack of smokes is 60+ kangaroo bucks….lucky I don’t eat, drink or smoke 🙈
unironically it's cheaper to buy a pizza and eat it over a couple of days than cook spaghetti Bolognese
Your videos are always so entertaining and entertaining! Thank you for this! 😛🍑
The monetarist mechanisms used by the RBA is so flawed.
Its funny how the RBA is looking for higher unemployment at a time where things are so expensive people are working 2-3 jobs just to maintain what they have while the government keeps creating government jobs and the private sector is flat..
Maybe they should be discussing that with the government before saying the Australian economy is "resilient"
They aren't looking for higher unemployment that isn't their mandate, they also dgaf about the interest rate.
They only care about controlling inflation, they set the rates to try to control inflation. It's easy to think that their function is to look after landlords and home owners, because that's the only thing that the news seem focuses on.
Ouch 😮
Nothing is easy under freebie giving Albasleazy
I'm a leftie but jesus christ has he been a disappointment
@ can’t give entitlements out like that. Will destroy the economy and the people. Look at the UK - becoming third worldia very quick
Both sides are terrible.
These structural issues been going on for much longer than albos term
@@FinanceStoryTime It’s literally the same two parties that got us here. Time to vote for someone else. The main two only serve themselves.
RBA is FULL of MORONS! Hight Interst Rates are NOT needed when Inflation is Already 2.8 (RBA target is between 2-3)! WHY!??
It's because of fighting with their largest trading partner in the past. China is doing more business with other countries.
Money money money.
Its ok, kangaroos will work with us.
I will believe there is a problem with the Australian economy when we stop having record new vehicle sales and restaurants and cafes stop being so full you can't get a seat.
Buy now pay later is off the roof, Australians are addicted to debt mate
both of those metrics are old people, old people buy nice cars to peacock, old people fill cafe's because they love a coffee, but young people? they're stuck on unemployment living in sharehouses waiting for opportunities that don't exist, and young people are the future of the country not the living fossils
@@jimbothegymbro7086 disagree..but let me ask my best mate who is a DP at a Mazda dealer here in Sydney. But let me get this right, you're saying no young people buy cars anymore, it's only really old people. Just as a side note, you realise that "old people" sales are still going into the dealership and therefore money going into the economy, right? And that record sales are still record sales. When everybody wasn't complaining about the "cost of living" we were using that metric to measure the general health of the economy.
I'll do some research, but starting at August 2024, the second highest number of car sales during an August on record. Not exactly the sign of an economy going down the drain for the past 18 months or more, is it?
@@noelvalenti8677 longest per capita recession on record and we haven't even seen the music stop yet. You're seeing the false pump of record imigration numbers barely keeping GDP crawling while productivity is at record lows. In the meantime housing/health/infra is groaning under the weight of the ponzi scheme. It's ok, you'll see it come home to roost as living standards continue to plunge over the next decade, just look at the UK for an example.
@@noelvalenti8677interest rates don’t affect people who have paid off mortgages as much as they do people with mortgage > majority of fully owned homes are owned by old people > old people continue to stimulate demand leading to inflation. RBA can’t target people with out mortgages effectively to reduce demand. Govt needs to step in and increase taxes on old people via estate tax as an example. Of course politically impossible so down the drain we go
Productivity is bad because of the NDIS black hole, worst Labor initiative ever.
@@Starcraftmazter sorry mate, can you expand what you mean by the NDIS blackhole?
@@arjundilip1543 government basically threw money at the NDIS for both training and wage subsidies, mainly to appeal to old people at the expense of the young, which not only wasted money that should be going somewhere else, but also took workers and expertise
@@jimbothegymbro7086 if I understand correctly, wage subsidy is when the government subsidizes the cost to companies in hiring people with a disability, am I right? I think it's capped at $10,000. Surely that's not why all of Australia's economy is slumping? Also, how does that appeal to older people?
I'd like to understand. Totally not picking an argument :)
Yes the NDIS money pit has blown out government spending
NDIS has helped my sick mum and I pay a lot of taxes. There is waste no doubt but there is also value.
With labour inflation in Australia on the rise because every single union is going on strike for higher wages, no wonder our productivity is in the gutter.
Nah moite.
Strikes are not the source productivity nosedive.
Nah bro, it's reduction in immigration numbers, corruption and mismanagement.
About time that our wages increase.
@@theBeat2 functionally wages could increase or the price of things could decrease, they really should be focusing on housing as it's easily one of the biggest expenses people have
Dont theh want house to go up though they already brought in over million people to keep the illusion all is well.@jimbothegymbro7086
Trmp effect
Omg 🫣🤔🥹🥲😱👀🏃♂️➡️🏃➡️🏃♂️➡️change of government coming next year a real possibility and positive 👍😉😀
Hello, I want to start investing, but l'm unsure where to start. Do you have any advice or contacts for assistance?
@@magnuslucky8053 It's prudent to seek expert advice when creating a solid financial portfolio due to its complexities.
It's prudent to seek expert advice when creating a solid financial portfolio due to its complexities.
Aussies just invest in properties and think they are savvy investors.
Working from home has fucked this country