THANKS. Just what I needed to watch. My wife and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 56, my Wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Recession? How about depression. If mining isn't keeping our economy and house prices stagnate (which is necessary) there is nothing else. We don't export anything else.
House prices will not stagnate. Canberra has now opened flood gates to foreign property buyers who compete at auctions. Also, Canberra will continue printing and borrowing money so the only thing that will happen is ongoing inflation, skyrocketing prices and further depreciation of AUD until we get to where Venezuela is
@andrewwotherspoona5722 You're underestimating the politicons they can keep houses at a constant growth just by importing more people to keep pressure on demand and also more stimulus. Now I know it's asurd but that is the system we have. Digging holes and selling inflated houses. 🙄 and china seems to not need iron ore for a while to come.
@@InfinityIsland2203 And or 'economic and political stability', you know, the thing that has attracted all the investment will go to the dogs. Funny though with all these booms, "housing boom" and "migration boom", the economy is tanking badly. Maybe something isn't adding up?
The global economy is so interconnected now that even small changes elsewhere can have ripple effects in Australia. And I’ve noticed that household debt here is one of the highest in the world. That’s got to have an impact at some point, right
It’s not just household debt, though. There’s talk about potential downturns in sectors like real estate and even resources. People have been saying the mining boom is cooling down. If that happens, it could really hurt the economy.
True, but you know, Australia has always been resilient. I remember after the GFC in 2008, we recovered faster than a lot of other countries. But this time feels different. The uncertainty makes it hard to know how to protect what you’ve built
My financial advisor, Joseph Nick Cahill, has really helped me understand the broader trends and what’s coming down the line. He’s been in the game for over 20 years, and his insights are always practical.
The problem is not just interest rates. It is also an increase in the insurance, council, and water rate, petrol ++++. Look at the whole picture, not just one piece.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in Australia.
Inflation can have a significant impact on individuals and their cost of living. As a result, it can cause negative market sentiment. It is important for individuals and businesses to find ways to navigate and potentially mitigate the effects of inflation on their finances. The current economic climate, including underperformance of financial markets due to fear of inflation, has led to a decrease in the value of my portfolio. I would appreciate any recommendations on how to potentially increase returns during this market downturn.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $100k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up $450k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
The economy has stalled. we've been in recession since the lockdowns, and the money printing has both created the inflation but is also disguising the recession.
We’ve unofficially been in recession for a while - it’s just that for a long time we’ve been changing the goal posts …very Australian 🇦🇺 China now has its own mines in Africa and international students are leaving Australia faster these days …right now even Mississippi has a better economy in terms of GDP growth (1.3%) than either the UK or Australia
Thank you for this video. I've watched a lot of Australian economics videos and Nicki Hutley's take and explanation is the most balanced and concise summary thus far. She leaves most other Aussie economists in rhe dust. Kudos tp her! She should be on every mainstream press channel explaining this to the Australian public.
RBA sat on the fence for too long. They should have gone harder quicker. Now rather than a Band-Aid being ripped off people are going to be slowly cooked from rates they clearly could not service and inflation eating every spare $1.
@Inspireworkshop it's an absolute joke at this stage. That's why I'll vote independents ar next election. Labour and Liberals are an absolute joke. In bed with the lobbyists.
@evildead9708They didn't raise rates high enough quickly enough. Inflation is still with us because of that. Inflation is the second worst problem that people can suffer. The worst is deflation. Inflation causes all sorts of problems which will begin to manifest in the next 6 to 9 months.
I did agree with the deflation as a bad thing a healthy market should always be able to correct itself if inflation continues we become like lebanon or argentina eventually @manflynil9751
We are definitely having a crash landing. The RBA should have been a bit quicker off the mark like NZ, who in someways had to tackle housing issues a year or so earlier. I believed they cooled their economy a little more successfully. (Have property in NZ and Australia). Australia has done nothing to curb immigration or housing as a 'sink hole' for spending. In fact it has fueled it. Unless I am really, really missing something. The band-aid has to be yanked off at some point. Even in the governments own trajectories their is pain to be had in 2025-26 anyways regardless. I also think those with large mortgages will be the ones that ultimately have to pay this price. Myself included.
True, we are a service based economy. Nothing innovative coming out of the country. We need to have policies in place so that people should be able to afford a roof over thier head with the aveage pay in service based industries
Well, your economist friend is a great headline economist isn't she.?! She failed to outline the fact that GDP calculations and inflation numbers are constantly being manipulated in an effort to make the headlines look good for the masses. Until they are so bad they can no longer. The RBA is well aware of this. If you make use of the GDP and inflation calculations from the 1970's you will see inflation running right now at about 8.7% and GDP puts Australia well in recession. Government is making zero effort to re-establish manufacturing in Australia and the small industries which do exist are being taxed to oblivion. Interest rates need to be above 6% at least. Lowering interest rates is a signal to markets of recession. As a business owner, I have no choice but to move back to California. Now that says it all when California has better business growth opportunities than Australia.
@kurjan1 Australia loves to cover up its weaknesses. Too proud to admit that thete is something wrong. The amount of businesses gone under in the last few years is never talked about. Always covered up within the daily news cycle pitting people against each other.
We are already in a recession. Take out the unproductive government jobs, NDIS, mass immigration and reckless fiscal spending and we are well and truly in a recession. What comes next is a depression. It’s time to reset the debt based Western economies…
And not once mentioned was the price of housing. If they cut the rates the house prices will get worse than they are already. Too many idiots willing to pay ridiculous amounts of money for overpriced cardboard boxes.This country needs a crash to fix house prices to make them more affordable.
@InfinityIsland2203 I've been waiting for years for a crash that hasn't happened because of inept politicians keeping the housing market growing to ridiculous prices. I immigrated from Ireland 15 years ago just after the GFC and I saw first hand the dangers of a bad housing market. A lot of people are going to get hurt pretty bad when it happens here. There's no way the house prices can sustain this type of growth. Who the hell can afford them?
@@DISCO_DUCK. A very accurate assessment,. Australian have their wealth locked up in those inflated house prices. Continually fuelled by immigration. You ask how can people afford servicing the debt . The truth is they can't the stats show the growth in late payments continues to grow, external personal loans and loans from family members is the support system
@@DISCO_DUCK. Do you reckon it will happen here? Did Ireland prop up their housing market with mass immigration like our government has been? It seems like no matter what the government is willing to import more and more [wealthy] people to try and prop up housing even though it is going to be absolutely devastating once we reach the end of the road. That's why they allow foreign investors. They'd seriously rather sell the property here to overseas investors rather than let it crash. That's why so many Australian companies have been sold to overseas companies. Government after government would rather sell out the entire country rather than give Aussies a good life, I don't think any other government on this planet is as dumb as ours, and our government are doing it on purpose.
@@DISCO_DUCK. But do you reckon a crash could happen here? I don't think Ireland turned on the mass immigration tap during their crash right? Everyone seems to want to move here even though every added person just makes things worse overall. I'm sick of immigration and immigrants honestly. 10 years ago watching Dash Cams Australia you would never see someone driving on the wrong side of the road, these days there's always a clip of someone doing that and I have a strong feeling it's because they're from overseas and had a brain fart moment.
Just regurgitating all the standard media tripe about the economy. GDP should not include government spending, because it is a burden on society. Interest rates should never have dropped as low as they did. If you can't afford 7% interest on your home loan, you have borrowed too much.
Geez, why blame the workers for low productivity? Workers' share of GDP has been on a steady decline since 1971 while executive remuneration has been on a meteoric rise. Australia needs to address issues of inequality first. We need some progressive policy not tinkering around the edges to suit media and election cycles.
Whilst those with mortgages will decry any rate rise, inflation is hurting all Australians. Go back a few decades and interest rates were triple what they are today, people have never had it so good. Many will agree the reserve bank sat on it's hands for far too long, causing pain to every Australian in the high prices of everyday essentials. The housing crisis caused by previous governments not planning for Australian population growth and defunding trades colleges is the other crisis for the economy.
It doesn't matter if interest rates were triple what they are today, that is a pointless comparison because house prices back then were 1/12th of what they are today. What matters is debt to income ratio and Aussies have one of the highest debt to income ratios on the planet. You don't understand that these days it takes around 8-11x income to buy a house whereas a few decades ago it only required 2-4x income to buy a house.
Australia’s economy is weak because the govts destroyed business and overspent during the China flu farce, and now labor is grossly overspending on u productive renewables while destroying wealth generating business e.g. gold mine in nsw, and importing millions of unwanted low skilled foreigners who go onto welfare. If labor get back into power you will suffer greatly and your standard of living drop drastically. Probably a deep recession if the country survives.
What else would happen after so many people saved money through the pandemic? Business greed had to take all the money. Plus external factors because the world is going to heck.
I just feel I don’t have money -after I pay all my automatic bills that have gone up in price . Barely enough for food - it was not like this pre Covid
Why do businesses not build more houses if house prices are high and rising? (Genuine question. Isn't that the basic assumption about the free market? Why isn't it happening?)
Individual aka per capita productivity increases have essentially reached their upper limit. You cant cut more hair, you cant paint more nails, you cant cook more breakfasts. The excavators have already been bought... we may trade out some minor QOL tool improvements but the plumber is still servicing the same number of houses...
The economy is actually really simple. Its made complicated on purpose so punters don't understand how their money is being stolen straight out of their wallet.
keep increasing the mortgage rate ...as if money grows on trees .. 3 years ago we paid 500 for our first mortgage, now becomes more than $3000/ month .. go figure!!!
I heard Japan did not put up interest rates like we have, inflation went up and came down. I know, it is not what the economic textbook says should happen.
In my opinion govt should not increase wages for couple of years, should not provide incentives, that will people stop spending and inflation will come down and eventually you can cut the interest rates.
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
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 2.1BTC to a decent 15B TC in the space of a few weeks... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Linda’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
The same high-yield potential exists in both bullish and bearish situations; what matters is how information and technique are used. Not neglecting professional advice.
China is an unreliable economic power. Australia is getting too close to China. In order to diversify risks, Australia has to increase the number of export destination countries, mainly Western developed countries. Australia has to choose countries for its exports which each emphasizes stability in its own economic policy.
You need to look at the business closures. If business can’t operate we are hurting. There’s no wage growth yet increasing house prices, increasing insurance costs and increasing materials. Talk about things out of balance. All we hear is everyone trying to find a fix to housing. How about help businesses move forward again, that means better wages which naturally helps everything come back into balance.
The prerequisite for a recession is negative psychology. Who is creating that? We need to set our goals, and work towards them ethically, while minimising the risks to a tolerable level. - IT IS NOT ROCKET SCIENCE !
Why do we equate GDP with economic growth? Wouldn't it be more accurate to equate it with economic activity as money spend unproductively increases GDP?
We need to find a different measure for defining our wellbeing than Economic Growth. If I require clothes to wear and transport to get around (which I do), and I buy them on the second hand market, those sales contribute nothing to GDP (2nd hand goods aren’t counted), yet my life is improved, and items that would otherwise been made useless continue to be useful and our environment is better off because fewer resources have been used. If I become more aware of my energy usage around the home: turn off lights, close curtains to keep in heat in winter and the sun’s heat out in summer, then my power consumption goes down- reducing GDP, yet I am better off, and again fewer resources have been consumed.
Really tired of hearing about the economy when every day Australians cost of living has doubled in 4 years. Trebled in 10. Wages have barely risen 20% in that time. The working class is being absolutely strangled right now and Business profits continue to break records year on year. Something has to break!
Follow what Singapore did, high density government housing. That will increase supply exponentially and reduce overall cost of housing. But are aussies willing to give up the 4 by 2 with a backyard?
A lot of Aussies are easily swayed by the media. But numbers don't lie. If you're curious whether immigration has really increased, just look at the stats. From 2016 to 2019, there were about 250,000 immigrants each year. During the two years of COVID, there were basically none. Then in 2022, there was a big jump to 400,000, but in 2023, it dropped back down to 260,000. Even though construction was halted during the COVID period in 2022, the government still brought in people without much planning. However, it’s hard to say this is the main cause of Australia's inflation and recession. More than anything, I'd point to Australia's economic dependence on China, especially considering China's construction slowdown and broader economic slump. External factors like the U.S.'s reckless money printing also play a significant role. So, if you look at the data, there wasn't dramatic increase in immigration. I live in Perth, and although house prices here have skyrocketed recently, it’s not just because more immigrants or students have come to Perth. The real reason prices are going up is that people from bigger cities are buying houses in Perth as investments. This happened because the government didn't raise interest rates enough, spent too much money during COVID, and allowed people to keep buying and renting homes as investments. Blaming someone else is always the easiest option, and that’s exactly what politicians and the establishment want. Just look at the economic situation in the UK after Brexit, where they pushed out European workers. The UK is now facing one of its worst economic crises ever. Australia needs immigrants, and this requires a long-term vision, not the chaotic, short-sighted changes we see year after year.
LoL.. saving my tax cut, all my bills went up with the tax cuts, I'm probably worse off because every greedy company saw that extra money on the table and decided it was there's and raised there prices more then the tax cut.
Rate rises are not the only way to keep prices down Nikki Huntly. Government money printing during the panademic played a huge role in high CPI numbers which we qre still living with. You can bet your bottom dollar that as we go into recession later this year and into 2025 the printing press will get spinning again. Stop the money printer please.
You have to look at GPD per capita. Australian economy is cooked. Little manufacturing . No value adding or refinement of abundant resources. Add in a social bloated government and we are on an express train to being Venezuela.
I think few mistakes happened such as increase in wages substantially, not controlling suppliers to increase their price rise beyond actual impact and off course interest rate raises many times beyond necessary rises.
You have no idea what you are talking about. Wages have hardly grown and interest rates had to go up to get inflation down. Your third world policies don't work here.
Under the new misinformation bill, you will probably be sent to jail for making these videos. Not allowed to predict recessions or criticize any banking system or company etc.
We need less growth in population worldwide. resources get too much use which will effect the population in a major way in the long run, with mass poverty and probably mass starvation and homelessness or war. And both at the same time are very likely. We need to ease up on every thing dramatically, wealth should not prosper over longevity on earth and culture of different country's. We all will be lost and Doomed if this keeps happening.
THANKS. Just what I needed to watch. My wife and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 56, my Wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Recession? How about depression. If mining isn't keeping our economy and house prices stagnate (which is necessary) there is nothing else. We don't export anything else.
Don't we sell overly inflated housing to each other?
@@adiintel1 Yes, but for how much longer?
House prices will not stagnate. Canberra has now opened flood gates to foreign property buyers who compete at auctions. Also, Canberra will continue printing and borrowing money so the only thing that will happen is ongoing inflation, skyrocketing prices and further depreciation of AUD until we get to where Venezuela is
@andrewwotherspoona5722 You're underestimating the politicons they can keep houses at a constant growth just by importing more people to keep pressure on demand and also more stimulus.
Now I know it's asurd but that is the system we have.
Digging holes and selling inflated houses. 🙄 and china seems to not need iron ore for a while to come.
@@InfinityIsland2203 And or 'economic and political stability', you know, the thing that has attracted all the investment will go to the dogs. Funny though with all these booms, "housing boom" and "migration boom", the economy is tanking badly. Maybe something isn't adding up?
The cost of living keeps going up, and wages just aren’t keeping pace
The global economy is so interconnected now that even small changes elsewhere can have ripple effects in Australia. And I’ve noticed that household debt here is one of the highest in the world. That’s got to have an impact at some point, right
It’s not just household debt, though. There’s talk about potential downturns in sectors like real estate and even resources. People have been saying the mining boom is cooling down. If that happens, it could really hurt the economy.
True, but you know, Australia has always been resilient. I remember after the GFC in 2008, we recovered faster than a lot of other countries. But this time feels different. The uncertainty makes it hard to know how to protect what you’ve built
Yeah, and that’s why I’ve been thinking more about long-term planning.
My financial advisor, Joseph Nick Cahill, has really helped me understand the broader trends and what’s coming down the line. He’s been in the game for over 20 years, and his insights are always practical.
The problem is not just interest rates.
It is also an increase in the insurance, council, and water rate, petrol ++++.
Look at the whole picture, not just one piece.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in Australia.
Inflation can have a significant impact on individuals and their cost of living. As a result, it can cause negative market sentiment. It is important for individuals and businesses to find ways to navigate and potentially mitigate the effects of inflation on their finances. The current economic climate, including underperformance of financial markets due to fear of inflation, has led to a decrease in the value of my portfolio. I would appreciate any recommendations on how to potentially increase returns during this market downturn.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $100k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up $450k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
@@williamDonaldson432 This is huge! would you mind revealing info of your advisor here please? in dire need of portfolio rebalancing
This is huge! would you mind revealing info of your advisor here please? in dire need of portfolio rebalancing
we are already in a recesion wake up and smell the roses
A recession is only ever called that after it happened. The politicians won't call this a recession until we are out of it.
@@renemacarthur2410 politicians will declare/call recession during election campaign or before next next election 😊
Is the definition or a recession 2x quarters of gdp dropping?
The economy has stalled. we've been in recession since the lockdowns, and the money printing has both created the inflation but is also disguising the recession.
We’ve unofficially been in recession for a while - it’s just that for a long time we’ve been changing the goal posts …very Australian 🇦🇺 China now has its own mines in Africa and international students are leaving Australia faster these days …right now even Mississippi has a better economy in terms of GDP growth (1.3%) than either the UK or Australia
Thank you for this video. I've watched a lot of Australian economics videos and Nicki Hutley's take and explanation is the most balanced and concise summary thus far. She leaves most other Aussie economists in rhe dust. Kudos tp her! She should be on every mainstream press channel explaining this to the Australian public.
It’s all by design. Don’t forget the w. e. f. Twenty thirty target.
RBA sat on the fence for too long. They should have gone harder quicker. Now rather than a Band-Aid being ripped off people are going to be slowly cooked from rates they clearly could not service and inflation eating every spare $1.
True.
@Inspireworkshop true
@Inspireworkshop it's an absolute joke at this stage. That's why I'll vote independents ar next election. Labour and Liberals are an absolute joke. In bed with the lobbyists.
@evildead9708They didn't raise rates high enough quickly enough. Inflation is still with us because of that. Inflation is the second worst problem that people can suffer. The worst is deflation.
Inflation causes all sorts of problems which will begin to manifest in the next 6 to 9 months.
I did agree with the deflation as a bad thing a healthy market should always be able to correct itself if inflation continues we become like lebanon or argentina eventually @manflynil9751
The reserve bank has made it clear they’d rather see people thrown out onto the streets than the value of wealthy people’s money losing value.
Capitalism baby!
But that breaks one of their rules for wealthfare and safety of the people.
@@SxyRikkuwhat drugs are you on? Understand how things work.
We are definitely having a crash landing. The RBA should have been a bit quicker off the mark like NZ, who in someways had to tackle housing issues a year or so earlier. I believed they cooled their economy a little more successfully. (Have property in NZ and Australia). Australia has done nothing to curb immigration or housing as a 'sink hole' for spending. In fact it has fueled it. Unless I am really, really missing something. The band-aid has to be yanked off at some point. Even in the governments own trajectories their is pain to be had in 2025-26 anyways regardless. I also think those with large mortgages will be the ones that ultimately have to pay this price. Myself included.
We are in a recession!
No were not we can always bring in more people to push up the gdp. 😅
@@adiintel1 we will end up like Russia a nation of peasants while the 1% continue to cook the books
@@downtoearth1950 you mean serfdom?
House price is keep sky-rocketing and it seems it will continue! Recession?! Where?!
True, we are a service based economy. Nothing innovative coming out of the country. We need to have policies in place so that people should be able to afford a roof over thier head with the aveage pay in service based industries
Well, your economist friend is a great headline economist isn't she.?! She failed to outline the fact that GDP calculations and inflation numbers are constantly being manipulated in an effort to make the headlines look good for the masses. Until they are so bad they can no longer. The RBA is well aware of this. If you make use of the GDP and inflation calculations from the 1970's you will see inflation running right now at about 8.7% and GDP puts Australia well in recession. Government is making zero effort to re-establish manufacturing in Australia and the small industries which do exist are being taxed to oblivion. Interest rates need to be above 6% at least. Lowering interest rates is a signal to markets of recession. As a business owner, I have no choice but to move back to California. Now that says it all when California has better business growth opportunities than Australia.
Good on you for playing it smart 🇺🇸 …right now even Mississippi has a better economy in terms of GDP growth (1.3%) than either the UK or Australia
@kurjan1 Australia loves to cover up its weaknesses. Too proud to admit that thete is something wrong. The amount of businesses gone under in the last few years is never talked about. Always covered up within the daily news cycle pitting people against each other.
@@DISCO_DUCK.😂😂😂 sure it's because nobody talked about it all those companies went under come on pull the other one
😂Albo govt will bring solar panel manufacture back to Australia
@@grantourismo0109 this decade or next? How many billions will go to government mates in the back end of the deals?
Aren’t we on it already? If not, I don’t know how worst it can be! So many shops are closed and it’s like a guost town in some places, it’s scary.
We are already in a recession. Take out the unproductive government jobs, NDIS, mass immigration and reckless fiscal spending and we are well and truly in a recession. What comes next is a depression. It’s time to reset the debt based Western economies…
But what about the overleverged and in debted people 🤔
@@adiintel1too bad
And not once mentioned was the price of housing. If they cut the rates the house prices will get worse than they are already. Too many idiots willing to pay ridiculous amounts of money for overpriced cardboard boxes.This country needs a crash to fix house prices to make them more affordable.
@InfinityIsland2203 I've been waiting for years for a crash that hasn't happened because of inept politicians keeping the housing market growing to ridiculous prices. I immigrated from Ireland 15 years ago just after the GFC and I saw first hand the dangers of a bad housing market. A lot of people are going to get hurt pretty bad when it happens here. There's no way the house prices can sustain this type of growth. Who the hell can afford them?
@@DISCO_DUCK. A very accurate assessment,. Australian have their wealth locked up in those inflated house prices. Continually fuelled by immigration. You ask how can people afford servicing the debt . The truth is they can't the stats show the growth in late payments continues to grow, external personal loans and loans from family members is the support system
@@DISCO_DUCK. Do you reckon it will happen here? Did Ireland prop up their housing market with mass immigration like our government has been? It seems like no matter what the government is willing to import more and more [wealthy] people to try and prop up housing even though it is going to be absolutely devastating once we reach the end of the road. That's why they allow foreign investors. They'd seriously rather sell the property here to overseas investors rather than let it crash. That's why so many Australian companies have been sold to overseas companies. Government after government would rather sell out the entire country rather than give Aussies a good life, I don't think any other government on this planet is as dumb as ours, and our government are doing it on purpose.
@Spacemonkeymojo I agree with you.
Australia suffers from lobbyists in a bad way. The property lobbyists are very powerful.
@@DISCO_DUCK. But do you reckon a crash could happen here? I don't think Ireland turned on the mass immigration tap during their crash right? Everyone seems to want to move here even though every added person just makes things worse overall. I'm sick of immigration and immigrants honestly. 10 years ago watching Dash Cams Australia you would never see someone driving on the wrong side of the road, these days there's always a clip of someone doing that and I have a strong feeling it's because they're from overseas and had a brain fart moment.
Just regurgitating all the standard media tripe about the economy. GDP should not include government spending, because it is a burden on society. Interest rates should never have dropped as low as they did. If you can't afford 7% interest on your home loan, you have borrowed too much.
Geez, why blame the workers for low productivity? Workers' share of GDP has been on a steady decline since 1971 while executive remuneration has been on a meteoric rise. Australia needs to address issues of inequality first. We need some progressive policy not tinkering around the edges to suit media and election cycles.
Yes Menzies taxed wealth and that bought inflation down why not now
Australia does as told by US. Australia’s Economy has been in real difficulties over the last five years - No Surprise There!
Rubbish
Whilst those with mortgages will decry any rate rise, inflation is hurting all Australians. Go back a few decades and interest rates were triple what they are today, people have never had it so good. Many will agree the reserve bank sat on it's hands for far too long, causing pain to every Australian in the high prices of everyday essentials. The housing crisis caused by previous governments not planning for Australian population growth and defunding trades colleges is the other crisis for the economy.
It doesn't matter if interest rates were triple what they are today, that is a pointless comparison because house prices back then were 1/12th of what they are today. What matters is debt to income ratio and Aussies have one of the highest debt to income ratios on the planet. You don't understand that these days it takes around 8-11x income to buy a house whereas a few decades ago it only required 2-4x income to buy a house.
Sounds like a dumb boomer@@Spacemonkeymojo
No mention of our crazy overvalued housing!
Housing prices arnt calculated in the CPI...
I know it's a complete fucking joke and a massive lie.
Australia’s economy is weak because the govts destroyed business and overspent during the China flu farce, and now labor is grossly overspending on u productive renewables while destroying wealth generating business e.g. gold mine in nsw, and importing millions of unwanted low skilled foreigners who go onto welfare. If labor get back into power you will suffer greatly and your standard of living drop drastically. Probably a deep recession if the country survives.
@@paddlesmcbean2366 please stop. Bot
Show me evidence of overspending on renewables, I’ll be waiting.
What else would happen after so many people saved money through the pandemic? Business greed had to take all the money. Plus external factors because the world is going to heck.
I work in retail and people are spending money like there's no tomorrow, mostly on frivolous sh!t they don't need.
not really people cut straight away on me for my cleaning service.
Population growth is dreadful for Australia
I just feel I don’t have money -after I pay all my automatic bills that have gone up in price . Barely enough for food - it was not like this pre Covid
GDP is the worst measurement for how a country's economy is fairing.
There is no recession if house prices keep rising! Until the housing market implodes, there wont be any recession.
Absolutely that adds to growth and inflation
Why do businesses not build more houses if house prices are high and rising? (Genuine question. Isn't that the basic assumption about the free market? Why isn't it happening?)
No cuts
Individual aka per capita productivity increases have essentially reached their upper limit. You cant cut more hair, you cant paint more nails, you cant cook more breakfasts. The excavators have already been bought... we may trade out some minor QOL tool improvements but the plumber is still servicing the same number of houses...
The economy is actually really simple. Its made complicated on purpose so punters don't understand how their money is being stolen straight out of their wallet.
keep increasing the mortgage rate ...as if money grows on trees .. 3 years ago we paid 500 for our first mortgage, now becomes more than $3000/ month .. go figure!!!
I'd gladly take a hit to GFP if it meant bigger housing allotments, less people, and generally a return to quality of life of about 20 years ago.
It's GDP not GFP. Maybe the alphabet no longer matters because 1 in 3 of us were born overseas.
@@Spacemonkeymojo Or it could be due to tiny screen keyboards on smart phones which lead to typos
I heard Japan did not put up interest rates like we have, inflation went up and came down. I know, it is not what the economic textbook says should happen.
In my opinion govt should not increase wages for couple of years, should not provide incentives, that will people stop spending and inflation will come down and eventually you can cut the interest rates.
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
You can't turn shit into toothpaste but you can turn toilet paper into gold.
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@Lindawilburn
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The same high-yield potential exists in both bullish and bearish situations; what matters is how information and technique are used. Not neglecting professional advice.
China is an unreliable economic power. Australia is getting too close to China.
In order to diversify risks, Australia has to increase the number of export destination countries, mainly Western developed countries. Australia has to choose countries for its exports which each emphasizes stability in its own economic policy.
You need to look at the business closures.
If business can’t operate we are hurting. There’s no wage growth yet increasing house prices, increasing insurance costs and increasing materials.
Talk about things out of balance.
All we hear is everyone trying to find a fix to housing. How about help businesses move forward again, that means better wages which naturally helps everything come back into balance.
Politicians are great at covering up 😅 We are already in a recession 😅
The prerequisite for a recession is negative psychology. Who is creating that? We need to set our goals, and work towards them ethically, while minimising the risks to a tolerable level. - IT IS NOT ROCKET SCIENCE !
Why do we equate GDP with economic growth? Wouldn't it be more accurate to equate it with economic activity as money spend unproductively increases GDP?
We need to find a different measure for defining our wellbeing than Economic Growth.
If I require clothes to wear and transport to get around (which I do), and I buy them on the second hand market, those sales contribute nothing to GDP (2nd hand goods aren’t counted), yet my life is improved, and items that would otherwise been made useless continue to be useful and our environment is better off because fewer resources have been used.
If I become more aware of my energy usage around the home: turn off lights, close curtains to keep in heat in winter and the sun’s heat out in summer, then my power consumption goes down- reducing GDP, yet I am better off, and again fewer resources have been consumed.
We are there already!!
Great work
To many taxes and burocrats spends All the money until there's non left🤔
but all conventional metrics, we are already in one. 9 consecutive quater of red. we only need 6 to meet the criteria of recession.
Really tired of hearing about the economy when every day Australians cost of living has doubled in 4 years. Trebled in 10. Wages have barely risen 20% in that time.
The working class is being absolutely strangled right now and Business profits continue to break records year on year.
Something has to break!
We’re already in one and have been for a while, they just haven’t officially announced it yet
I have been in a personal recession sense I started working 😢
Follow what Singapore did, high density government housing. That will increase supply exponentially and reduce overall cost of housing. But are aussies willing to give up the 4 by 2 with a backyard?
I really hope the RBA increases interest rates *fingers crossed*
Headed? Lol
You are in one and have been for a st least a year
A lot of Aussies are easily swayed by the media. But numbers don't lie. If you're curious whether immigration has really increased, just look at the stats. From 2016 to 2019, there were about 250,000 immigrants each year. During the two years of COVID, there were basically none. Then in 2022, there was a big jump to 400,000, but in 2023, it dropped back down to 260,000. Even though construction was halted during the COVID period in 2022, the government still brought in people without much planning. However, it’s hard to say this is the main cause of Australia's inflation and recession. More than anything, I'd point to Australia's economic dependence on China, especially considering China's construction slowdown and broader economic slump. External factors like the U.S.'s reckless money printing also play a significant role. So, if you look at the data, there wasn't dramatic increase in immigration.
I live in Perth, and although house prices here have skyrocketed recently, it’s not just because more immigrants or students have come to Perth. The real reason prices are going up is that people from bigger cities are buying houses in Perth as investments. This happened because the government didn't raise interest rates enough, spent too much money during COVID, and allowed people to keep buying and renting homes as investments.
Blaming someone else is always the easiest option, and that’s exactly what politicians and the establishment want. Just look at the economic situation in the UK after Brexit, where they pushed out European workers. The UK is now facing one of its worst economic crises ever. Australia needs immigrants, and this requires a long-term vision, not the chaotic, short-sighted changes we see year after year.
Your immigration figures are wrong, go check the ABS figures for 2023, 520,000 net
LoL.. saving my tax cut, all my bills went up with the tax cuts, I'm probably worse off because every greedy company saw that extra money on the table and decided it was there's and raised there prices more then the tax cut.
I didn't know BHP and Rio Tinto were service based companies...
We are already in one and have been for 2 years
Gov is cutting back on education sector.
Bullshit, there is only one problem, central banking.
No, the problem is labor/greens/teals.
@@paddlesmcbean2366nope
Australia is already in recession what part of recession you don't understand
Apparently thanks to Government spending Helping the inflation
Rate rises are not the only way to keep prices down Nikki Huntly. Government money printing during the panademic played a huge role in high CPI numbers which we qre still living with. You can bet your bottom dollar that as we go into recession later this year and into 2025 the printing press will get spinning again. Stop the money printer please.
No recession. People have heaps of money.
I thought we were already in a recession and have been for over a year now.
Its already here
Just say we are in resection
How aren’t we in one already 😂
KAMA … meaning bad reaction for wrong actions.
Why? Labor
You have to look at GPD per capita. Australian economy is cooked. Little manufacturing . No value adding or refinement of abundant resources. Add in a social bloated government and we are on an express train to being Venezuela.
So the reserve bank doesn't look in the review mirror hey, I thought that's all they did and why they're always late to the party.
We don't actually produce much do we other than more people that can't produce much
Good view
We already ARE in a recession right now. We're heading towards a depression.
Yes
We’ve been in recession for years
GDP per capita is already in recession
YOU ROOTED SINCE CHINESE LEFT
Thought u meant porn lol
I think few mistakes happened such as increase in wages substantially, not controlling suppliers to increase their price rise beyond actual impact and off course interest rate raises many times beyond necessary rises.
You have no idea what you are talking about. Wages have hardly grown and interest rates had to go up to get inflation down. Your third world policies don't work here.
Australia is already in a terrible recession
All this hardship has been deliberately engineered.
I swear to fuck if I hear the words build back better one more fucking time…
Take out labor over the top immigration we would be in a recession we in now per capita recession NOW
Under the new misinformation bill, you will probably be sent to jail for making these videos. Not allowed to predict recessions or criticize any banking system or company etc.
If leftys spend everything then a depression is coming
Even in the 1990s a minimum wage job worker had a low quality of life. That's why many opt for Centrelink.
GDP yeah .. look at global commodity pice and demand . Global manufacturing ! All down all facing a down turn may well be a total collapse
NO CHINESE MONEY
We need less growth in population worldwide. resources get too much use which will effect the population in a major way in the long run, with mass poverty and probably mass starvation and homelessness or war. And both at the same time are very likely. We need to ease up on every thing dramatically, wealth should not prosper over longevity on earth and culture of different country's. We all will be lost and Doomed if this keeps happening.
Headed for recession? For real?
Economists are like psychologists , useful at basic levels, useless thereafter.
Rates are negative they have to go higher
Inflation is a lot higher to what is reported
Yet boomers keep booming.
This lady is good.
She speaks a lot of shit mate…
Yeah I’m not to take financial advice from a couple of kids doing their economics analysis with alphabetti spaghetti