Plenty Of Snakes: Not Many Ladders: With Tarric Brooker...
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- Опубліковано 2 жов 2024
- Another Friday chat with Tarric Brooker, as we look at the latest finance and property news, and the political context, as housing becomes more unaffordable, even as inflation remains untamed. What's going on and is the Lucky Country running out of runway?
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I would not have a problem with the boomers that are receiving here in NZ $1600 a fortnight as a couple or $1050 a fortnight as a single person in the hand at the age of 65 (was not long ago 60 years of age) if they had left the country/economy in the very least as they found it however as now the younger cohort now support this through their tax’s while as Martin suggests the drawbridge has been pulled closed I have lost all respect and I am Gen X imagine how younger generations feel once they wake up as Tarric correctly states that we have been sold a lie. Great chat as always thanks guys.
If U understand how a debt-based banking system works, this is how it always ends, in a disaster or a war.
@@gore1089 unfortunately you are 100% correct I pray it is more of a financial realignment to give the younger generations hope of owning their own shelter and building strong families.
Largest coal, lng, uranium exporter, we should hav lowest cost electricity in the world!!!
Indeed. And Aussies should be wealthy. If you looked at the living standard and lifestyle of the average Aussie, you would think they were poor!
It's only when you find out the price of the house they live in, so you realize how rich they are!
The price of the house being about 3 times higher than it should be, comparing to global standards.
After all in this "Comonwealth" of Australia shouldn't all of us share in it's natural resources. Especially energy, we should all be driving gas @cost+10% powered cars.
Australia is doomed.
I totally agree !!.
That depends on how Australia is defined. And who is doomed, and who wins.
Aussies are working harder and longer than ever, with more education than ever, and getting less than they've ever gotten.
However, it doesn't take too much driving around Brisbane, Gold Coast, Noosa etc. to see who's benefiting from this.
I suspect the whole thing is working better than expected. Far better actually.
Australia is a disaster in the making. You only need to scratch the surface to find the horrors and believe me they are there.
Lots of engineers coming in but they seem to not have a clue. They all going onto government projects and now it’s hard to get quality engineers as the 547 are keeping wages low.
Australia: credit ponzi into mortgages go burrrrrr...
No child will live in poverty? 30 years on, Bob Hawke's failure!
Labour party ?.
AI being developed in the 3 letter acronym organisations is the problem, not ChatGPT! Where do you think all the Nvidia chips are being used, certainly not in robot vacuum cleaners … think robot killing machines, and you will be on the right track.
I’m a builder and only doing renovations to my own house and no more work for customer service work , so you guys are 💯 % on the money with all your points you bring up 🙏🙏
Good move many sub trades in construction who are unaware will be left unpaid happened to me in the 06 to 08 meltdown. It was a terrible time as I was totally unaware of what was occuring except I had 3 clients into me for over 120 days!
In a sense, I don't know if will ever get a traditional recession again. That's very different to the enormous slide in living standards for a significant number of Australians. But not the majority of course. This 'cost of living crisis' is probably only acute for around 30% of Aussies.
When the demand for Australian resources falls (chinese recession/stagnation) the Aud will fall significantly, price rises and recession will follow
Just print the money !!.
@@stpOwner If, rather than when, may be more accurate. I suspect a world population which is growing, Aussie resource demand will be around for quite some time yet.
Mortgagees are struggling a lot, so for sure at least 60% are struggling.
Thanksyou so mich for talking the truth, fir years people have said this is stupidity , that migration actually costs us, as we gave to build new infrastructure. The issue is that politicians are in charge and they are told how to think by lobbyists that want cheap labour. I mean for god dm
lobbyists = WEF !
@@jimmyhvy2277 you are spot on and Albo is balls deep in as we are here in NZ with our globalists. We are fighting though we got rid of Ardern and Luxon is on close watch as he is a climate zealot part of the WEF extortion of our countries revenue. We will defeat the evil as we are many. The ant people will never wake up so I don’t waste my time with them. Once the WEF know the public unrest is high they pull them out of office ie John Key and then Ardern both back to back and supposed complete opposition - yeah right!
Clearly this can't continue, to my mind the interesting question is how it comes to and end (and how much of mess that makes)
we will be offered a UBI paid as CBDC , as long as we give up every thing we own
@@grizzz6884 Perhaps. Will that be a stable "solution"? I've no idea...
It will. The gap between the number of houses and number of people will keep increasing. The people in the gap will just have to sleep in tents and cars, I might end up being one of them. Even if I somehow avoid that gap, someone else will just take my place instead. I dont see things changing in this country. Not until the economy completely collapses.
Just looking around the 60+ people in my prestart meeting this morning.
The only people there with more than 1 child are from Africa and the Philippines, their families in their home country.
Australia has become no more than an economic unit
You’re an essential worker but we don’t want to pay you adequately for the essential work you do. This sentiment was writ large, just recently when the Fed govt in the budget announced a “necessary delay” for another 18 months to 3 years in paying aged care and child care workers the legislated pay rise they promised these sectors last year. Smoke and mirrors, same old BS.
Want to know what happens to all the people whose jobs are displaced by AI, just look to the MAID program in Canada
Supply will meet the demand that has the ability to pay. Who has or will have the ability to pay?
I'm seeing so much buying pressure at the moment. There just seems to be a wall of money, chasing far too little supply. No wonder prices are rising, despite current interest rates.
90% of Australians going backwards. More hrs working earning less. Everything is going up and still rising. We will become a country where everyone is a Doctor, Mechanic, Electrician, Plumber, Builder, Chef etc cos nobody can afford those services and everyone will end up doing it themselves.
Interesting discussion around AI. My son who worked in IT for years says AI is a misnomer. It is an algorithim which fallible/biased humans feed with data. Think Google maps.
You are not quite right with the "running after the train" analogy.
My lil sister is 31 yo. She has a casualised work history and a masters in psychology dgree she has never used.
She is spending 6 months working in London, but frankly, still lives at home with our boomer parents, who took the down size bonus and live in a high rise apartment, tiny, but still holding its price ok.
So i see the movie....
"Throw Mumma from the train"
As a much better analogy.
A masters in psychology 😂🤣😂🤣🤣
Thanks guys, great ep again, fantastic info.
Glad you enjoyed it
Tarric you said it , we are on a knife edge in more ways than people know ,this is going to get really bad
The wheels will fall off when Australian realize it will cost them there entire life if not 50 yrs to pay off a 2 bedroom Unit in a housing commission complex.
I heard people with solar pay more than those without!
CP Lie is just that..
The Higher for Longer drums are beating louder. Can you hear them?
A static population requires 2.5% of GDP, just to maintain infrastructure. A growing population needs the population growth rate in addition to the maintenence for new infrastructure.
Yayy Tarricks back!!
Does not matter because the average Australian will put their money into a POKIE !!.
It is not the house that appreciate but the land. That excellent houses are slod to demolish and rebuild supports this.
52:50: I can answer that and I'm not involved in construction at all.
I've seen this play out across Australia many times. It's so simple. When housing prices boom, the Aussie economy booms.
That's why politicians ALWAYS push house prices.
That's the worst type of economy. Think Ireland 2008
@@InfinityIsland2203 Indeed it is. We have the harrowing situation in Australia, in which extreme immigration is used to both push house prices, and suppress wages.
It's just about the worst fiscal tool imaginable.
The lucky country has ran out of luck
Got nothing to do with luck, been getting handouts from China and bailed out in the aftermath of 2008.
No, that luck is still going. Who could have imagined that a pandemic (or something else) would lift Brisbane house prices by 70% since 2018.
That then feeds into an economic boom.
Yes Tarric the economy in Australia has "been performing shit". Labor market reform has been non existent for over a decade. Attitudes to work are terrible, people have become self centered and lazy. Focusing on stuff that doesnt matter and will not productively grow wealth - Expecting the government to sort out everything. There has been an effective recession since the 2008 GFC - that's 15 years now. As in subpar growth. What we have had is government step in - hiring and trying to boost the economy with migration and ballooning government spending. Now more than ever, government and contractors dependant on government, *is* the economy. This squeues the GDP and growth figures. Reality is lost in a sea of government fiscal carelessness and currency debasement .You didn't put up the most important graph of all. The % of GDP and the economy that is government vs non government (private). This has been increasing for decades. We need less government not more. We need less investment in housing and more in business and productive enterprise. We need government to slash regulations and get out of the way of business. Yet we have the opposite. I don't know how we turn this depressing trend around? What do we need to happen? For a reality check and everyone to "get real" and dump the government dependency that has infiltrated Western society? They keep voting in socialist governments! What do we need to happen? A depression? A banking collapse? Geez heaven forbid an internal conflict?
Get rid of the socialists. Unfortunately you are balls deep in with Albo. Once his tenure is over (like Ardern here in NZ) you’re standard of living will have decreased and you’re recovery will take 10 years like it will here. NZ has gone so far backwards and our debt to GDP in 3 years increase by 60% with no accountability- books are being opened and frankly bit is horrifying what has occurred!
10:15: Indeed, it's almost like some consumers will be surplus to requirements. No wonder Henry Kissinger referred to some as 'useless eaters'.
we helped them developed the tec , to displace us
Great job guys, appreciate having these updates from people who are looking for the truth, and independent.
Australia has plenty of people with nursing qualifications. Many of them work in better paid and less stressful conditions at other jobs. It's the same for teachers. It's poor work conditions that allow claims of insufficient skilled workers to continue. It's just not true, it's convenient.
I am an RN Mental Health and Drug Treatment Services I could work anywhere in Australia for very high salary.I chose to not work in Acute MH mainly to discharge into homelessness defeats the purpose.
Back in 1987, when govt superannuation laws began to be passed, one of the major rationales was that both the aged pension levels and costs would greatly decline over time. This hasn't happened, resulting in much higher wealth of the aged per person than was projected.
martins humor is rapidly turning into the british expats you seen in pattaya...
I wish i never realised how often Tarric says "in that regard" can't stop noticing now.
AI direct democracy such as the AGI-Civitas DD model framework by Edmonds, offers improved governance, provides more informed policy making, increased transparency, greatly reduced corruption, and allowing far more equitable resource allocation/distribution and unparalleled efficiencies. This type of system can provide a fare better future aimed at a post scarcity economy... AI direct democracy can pave the way for a future where resources are abundant, and scarcity becomes a thing of the past.
Zuckerberg his project is currently AI call centres, and is making great inroads
Not just migration is keeping Aus wages lower, outsourcing as well!
AI, like bitcoin, needs massive amounts of power.
Wait for the Damascus moment that will sweep away squeaky pure objections to nuclear, if a huge bag of money for the power base is at stake.
The unlucky country now
"Elite libreal consensus from the top;for the top"is a good listen.Great show Gentlemen from New Zealand
Welcome back fellas!
Great title. Just what i found many snakes.
I have canceled a 6 unit social housing development due to excessive local and state government imposed costs. Home owners warranty is now 7.1% of the build cost for small apartment developments
amazing title
39:35: A remarkable chart. However also remarkable, is the age demographics who are worst off, are currently pouring into Australia at record numbers. Strange that.
Its time for young bright Australians to look overseas and thats counter productive
..
Yeah and then what: watch indian logistics workers work 3 jobs to rent off a retired pensioner landlord and pay for the other 2 aged pensioners with term deposits at 5% under the deeming rate with under the $1m threshold? Ross Garnaut and Ken Henry are killing it jawboning the Parliament to slap pensioners across the face right now ...Meanwhile 80 year olds are off overseas on holidays....
@@leonie563 well said you are 100% onto it.
@@mackakiwinz4353 thanks mate. Whitelining this stuff. As GenX we owe the kids behind us to yell at Govts now to stop goldplatting well off seniors via tax breaks and incentives many already had in working life. ABC news just put out story on how many jobs GenZ are working to keep renting or a mortgage. Welcome comments by COTA or National Seniors...
Well, your options are only really 3rd world countries. 1st world countries are just as expensive, if not more. If you have some good ideas let me know cause I would be keen to move to.
🇦🇺🙏👍
The 'Comparing Revisions' graph is very unclear. What is being graphed? Is it backward revisions of ABS data? Is it just a sequence of surveys - if so what are the horizontal dotted lines labelled with months?
It's the house prices!
Downsize 😂 same price + add stamp duty , I’m staying put till I meet my maker
Home is almost 100 yo lived here 55y roof don’t leak , no Reno’s , a simple house 9km from CBD, ain’t no silver tail
OMG Someone who has Worked for 50 Years has MORE Money than Someone who has worked for one year !
HOW UNFAIR ! Hate the Boomers !
Don’t worry I assure you we do and the young are waking up the very reason many are turning to crime as they have been left with far less offerings on the table and until they are given opportunities like we had ie free tertiary education, house prices 2 or 3 times to median income, rents at 20 % of income etc even if it doesn’t get to that level they have to be given opportunities otherwise the social unrest increases and as we are seeing here in NZ the weak become victims which is many older generations.
Build big infrastructure
Bradfield scheme
Reid scheme
Iron Boomerang
Fast trains
Seal all roads
National peoples bank foraffordable housing
Nuclear power station farmers,S.M businesses &
Thanks
Thank you!
should we be listening to financial commentary from a guy that lives in his mums basement?
You need 1 Acute hospital bed per 1000 people and all specialist medical extra do the maths
Hello guys 🥰
Hello 😊
Great talk , thanks Martin and Tarric. 👍
Our pleasure!
AI is a murderer!
When will Albo call election??
Delivery of tax cuts in July could be favorable for the government, potentially providing an incentive to call an early election. With leaked internal messages and recent political maneuvers, appears that the government is shifting into campaign mode... but who knows with commie albo...
First
First
Interest rates lead inflation
We need more stimulus
Which comes first.?
Incorrect it is the money supply. Inflation is the result of a expanding money supply creating demand. The inflation is the lag effect of stimulated expanded money supply.
@@mackakiwinz4353
Cost push inflation differs from demand pull inflation