Covid really did bring trust in Government to new all time low. Amongst many other things, the massive wealth transfer to big corporations and the wealthy was sicking.
That’s concise AF. That runaway train will not be caught. According to the RBA calculator, total inflation over the 5 years from 2018 to 2023, was at 20%. In FIVE years! The shopping trolley disagrees…. It’s much much higher.
I did not received any free money so as many Australian who worked through Covid and did not receive any government's handouts but copping inflation today.
It doesn't take an Economics graduate to understand that if you put money into an economy that isn't producing anything, you get inflation. If so many people aren't working and producing any output, what on earth could you possibly thought will have happened when you hand them cash?
But it wasn’t the stimulus, the stimulus only increased new cash by 14%, the problem was too much money chasing too few goods, so you can produce stimulus without inflation as long as supply os fine and there’s plenty of goods. So Your answer is too simplistic. Like they said “like everything in economics it’s never usually one thing”.
@@Vgallo It was the fact that people were forced to sit at home and not work and given money to spend. What you describe is a symptom of what happens of when production stops because people stop working. It's exactly the same thing. Sure the amount of new money into the economy may have been small, but you miss the fact that productivity didn't increase to match.
@@mintoxmike It wasn't an 'experiment' as they suggest. It was a business party concerned about losing money so they splashed the cash. Notice how there's no disputes when the money goes to businesses but given it straight to the people, then there's an uproar (Remember the $900 stimulus payment?)!
@robertlayton7004 So you would've been happy to have millions of ppl die to save economic figures. An economy can recover. Life can't once its dead.I worked in an ED during that time, shut downs were implemented to give the hospitals a chance to get ppl recovered and discharged to allow the next person to be saved. Look at countries where loved ones were being ventilated by their families in the passage ways, just to give them time to be able to get a bed in a hospital. We knew ppl would get sick, it was about reducing the number that would get sick all at one time. Hence the opening and closure cycles. The economy is about human life not just numbers on a spreadsheet too.
Heard the numbers and sorry no one is going to believe this inflation . Bread and milk are up . Tell an Aussie on the street we beat inflation and you will need medical attention
If you want prices to actually drop you are looking for price deflation. They want to avoid that even more than they want to avoid overheated inflation. Basically it's not going to happen. You will have to earn more money instead as most things won't be getting cheaper (there are some outliers like fuel)
lol you totally misunderstand what inflation is, 2% means prices only increase by 2%, and beating inflation doesn’t mean we go back to what prices were before, it means we’ve reduced prices increases to 1% less than wage increases ie it’s growing at an acceptable rate. Did you guys even listen?
QLD gave $1000 subsidy and $0.50c public transport fares that's going to make inflation down. When they go they will go up and fuel has gone up 20c recently and you have automatic index rises on excise taxes on fuel, booze and smokes.
Gov has the worst policies for long term growth too. Birth rate? No worries just import population. House prices? Push them up who cares. Want to start a business? Makes lending hard and prohibitive rules. Employment issues? No worries just pump a whole heap of non productive jobs like ndis at expense of taxpayer.
Sorry guys … mortgage holders are not paying the price for inflation - we all are. Also they are victims of interest rates artificially low for too long. The rates are still too low, the whole nation is broke and over leveraged
The residential property market is valued at circa $11 trillion, and the total debt against that is circa $2.3 trillion. Sorry, but that’s not over leveraged.
You dont factor in the 1/3 of homes owned outright.. no mortgage $$$$ So even if your figures are accurate the ratio of leverage is approximate 8 trillion value to approximate 3 trillion debt. What happens when coming economy correction ARRIVES??🧨🧨🧨🧨🧨🧨🏘🏘🏘🏘🏘🏘🏘🏘🏘🎉🎉🎉🎉🎉🧨
Inflation does not affect everyone. Your kidding yourself. The rich are living very comfortably at the moment. The lower incomes and mortgage holders are suffering the most.
Unemployment numbers are BS. Lots of unemployment. IT Job ads getting 100+ applicants on the first day. Redundancies still happening, many companies doing it by stealth, no comms. Many IT people been looking for work for over 12 months.
Thanks for the update, keep up the good work.< Learned a lot from my market journey, especially the importance of living within one's means. With Loraine Souvenir’s guidance, my nest egg has grown to a 7-figure sum. My advice - get an analyst for better financial trade decisions and peace of mind
Surprised to see her mentioned here! She tailors trading courses to suit beginners’ needs and really knows her stuff. Her advice has been invaluable to my trading journey-definitely worth it!
Wealth building and financial freedom are attainable with the right knowledge and tools. Using proper financial strategies and products is essential to growing and sustaining long-term wealth.. glad to know you want others to succeed
It's truly refreshing to see a comment about Loraine Souvenir. I've also had the pleasure of working with her for several months after discovering more about her online. She has a knack for simplifying complex issues, whether it's a market surge or decline. Her approach consistently keeps you ahead of the curve. I'd call her a guru, for sure
Thank you for sharing your experience. She’s helped grow my reserve, despite inflation, from $87k to $246k as of today..Her insights and daily siignals are worth following.
He’s way too excited about his property portfolio booming again. Acting like everything is back to normal 😑 2.8% on prices that have tripled doesn’t get me that excited. We need years of deflation to return to pre covid numbers
I'm still worried about inflation. I'm an importer and the price to import a 20' container has jumped up to $US2000 just the shipping charge, this is like covid levels. Importers will have to increase price's.
Australia needs to have a proper recession. Immigration, stimulus and keeping interest rates low is just prolonging this mess. Our economy will not start again with housing sucking up most of people’s wages. House prices and rents are out of control. It’s the result of low low low interest rates for way too long. The RBA needs to hike rates to stop fuelling the housing market.
They were too low for a long time. But now they have been too high for a long time. The rates in this country compared to the average loan are insane. It's actually the worst place in the world right now to be paying a mortgage. Rates are now going to lower to a reasonable level. The supply of housing is still too low in this country. Prices will never fall untill that is addressed and I hope it is for the sake of the younger generation. I mean those that are about to enter the workforce.
RBA doesn’t not control the mortgage rates. RBA controls the short term bonds and fund rate. Mortgage rate is market based and mostly tracks the 10Y bond.
Personally I lost two businesses within the fitness space due to lock downs. On the other side I returned to the work force in a previous role within the building industry where companies not only profited from government payments but also had record high margins due to shortages. The government should claw back from companies who had taken advantage. The criteria of showing a 2 week downturn in revenue was not the correct approach.
Thanks gents, good to hear the playback of the stimulus. Was too generous and now we are paying the price, however I agree was better than all those job loses and more importantly all the small business closing and never to reopen. Would have been horrific. Funning though a lot of people look back and criticise the government of the day, but at the time the same people were pushing for more government given more support. Can't win. Time to start paying back this debt Albo and Charmers.
Kouka was on the right track. Need some other measure of inflation that adjusts for items that interest rate hikes have no effect on.( He mentioned insurance and dwelling rents as an example.) There was some side tracking in the discussion and he did not finalized his comments. I would be interested to see him discuss this matter further as this would be the key to future setting of interest rates.
So RBA doesn't want unemployment to be low( so i am jobless now) and i reduce my repayment as I cannot afford to pay my EMI anymore( which is already double ) the bank says what is the plan to get a job and pay the arrears.Now what should i do? If i work RBA does not reduce rate and if i dont work and pay my arrears i might lose my house.what am I supposed to do?
CPI is not inflation, its a consumer index of prices- highly manipulate. Purest measure of inflation is monetary inflation, which has been running long term over 8% annually. If your wealth is not hurdling 8% you're going backwards #cantilon affect is grinding most into the ground.
22:57 😂 Bullslop. “It’s not over but it’s no longer a squeeze on my finances”. wtf? Of course it is. Nothings getting cheaper. It’s still the same price. And increasing. This is propaganda to “proppa uppa the market”
The blame on interest rates is miss guided. Many took up unrealistic and obscenely low interest rates which were never going to be sustainable at 0.1%. The rates now are about normal and reflect the fact that those who had taken out mortgages when the rates were at around they are now are not going through mortgage stress. Only those that took large loans bases on 2-3% are in stress now……the inflation rate resulting in high cost of living is the pain point. Expecting rates to come down to offset high inflation is not realistic. The government is the cause and making of the current situation and high inflation. Stupidly high house prices driven by supply and demand from unrealistic immigration is the one of the main problem right there. 550,000 immigration and irresponsible government spending, 7 quarters of negative growth putting us in a technical recession…..game over.
Was this podcast filmed before the IMF World Economic Outlook was released last week when they said our inflation is forecasted to be the 2nd highest in the global advanced economies?
What if how the RBA are collecting unemployment and inflation data is wrong like it is in the US? The RBA are making major decisions on data that’s potentially not accurate..
Inflation has creeped up and not coming back down . Covid was a test for an upcoming global reset . The solution to the debt crises is to hyperinflate until you can't anymore hence why we are going to see a global economic reset. The encroachment of the central banking system upon the world economy was the biggest demise of mankind The key is to own assets that will beat inflation. Saving fiat money for your retirement is the most futile thing to do.
Don't forget we had record low interests rates before the pandemic. The last government were completely economic and financially inept. The RBA was desperately trying to stimulate spending in the economy, at a time we had record high levels of government spending (before the pandemic), it just wasn't going to the right areas. Then when the pandemic hit, interest rates were already at record lows and the RBA couldn't use their blunt instrument.
Jobseeker/keeper was the best policy that saved alot of jobs and the best welfare policy ever that saved the country and it came from a Liberal Government. Josh Frydenberg was a hero that was never validated for that immense policy. Victoria was the longest lockdown anywhere in the world causing unnecessary suffering to so many but no enquiries there and Dan Andrews hailed as hero & possibly a statue built for him for keeping Victoria is such great economic shape that everyone wants to stay there and not to migrate to Queensland!
Yes in the beginning all the stimulus and all the hard lockdowns were necessary until we figured out what this virus was. When we found out what this virus was, who it was killing, percentages of deaths etc...we still did the same thing for the next 2 years.
I’m so glad I read the comments after watching this guests response to the first question . Nothing to learn here . I feel he’s bought or compromised in some way, making excuses for the govt.
If the RBA drop interest rates it’s game over for Australia. We produce nothing, nearly everyone is working for the government in service industries. Oh and wow public transport is down🤣 forgets about state government subsidising public transport.
Prices go up & stay up GREED is the foundation of Australia why would corporations lower fees & prices if they can they will they’re making hand over fist…
We basically got stuffed by the government by taking our incomes and giving it to companies that profited. How many politicians will see lucrative jobs after this?
@19:44 "Breaking news, the CPI numbers have just come out, bare with me, just refresh my page.""My God, quarterly, 2.8" .oh, please, you fake bureaucrat try hard. Stephen Koukoulas still on the payroll. Properganda think tank. Everyone knows CPI (Consumer Price Index) figures can be manipulated due to Weighting adjustments Changing the importance of certain items in the basket. Or substitution bias Replacing expensive items with cheaper alternatives. Hedonic adjustments, accounting for quality improvements, reducing inflation. Also, seasonal adjustment, smoothing out price fluctuations. ....and what abot omitting sensitive items, excluding volatile or sensitive prices (e.g., food, energy). These adjustments can lead to - Understated inflation - Overstated economic growth - Artificially low interest rates - Misinformed policy decisions Critics argue that CPI manipulation benefits governments by, Reducing inflation-indexed payments (e.g., social security) Maintaining low interest rates. Masking economic stagnation, etc etc .. Please Mark, choose more wisely
But stimulus only increases new cash by 14%, what caused inflation was too much money chasing too few goods, the stimulus saved us from much much much worse situations
Economists are like philosophers. Lots of theories and ideals but when it comes to implementing them in the real world, they usually do more harm than good.
Look a .25 reduction to say .5 decreases in rates by end of next year wouldn’t really be a significant enough cut to be meaningful especially since most banks won’t pass it on
I normally love these podcasts. Very disappointed in this. Most govts including ours had pandemic plans to initially shut borders to prepare the medical system and protect the elderly. Instead the govts were the ones who caused the fear, experts talking sense were censored, actually anyone with a critically thinking brain who tried to speak out was censored, and the govt, instead of following its own plan, followed the policies of a communist country instead. And all these govts destroyed their own economies for no reason. What a joke to say it was warranted.
Did Mark just say that Sydney Real Estate is a 'buyers' market. Do these guys not know there's a whole world of globally diversified investments out there? The GROSS before cost rental yield on Sydney houses is below 3% (SQM Research). Even if you bought the investment property with 100% cash, what's your net rental yield after paying the stamp duty, council rates, maintenance cost and tax on the rental income? Probably still close to 0%. The mathematics makes no sense. Even if you have to be in real estate, don't these guys know you can buy globally diversified real estate ETF's or REIT's that pay positive NET 4.5% cash flow and many of them can be bought at significant price discounts to their pre covid highs. This is full derp de derp. If you're buying Sydney real estate as an investment, I'd like to try some of what you've been smoking. You're not an investor, you are a speculator.
News flash...around 80% of job growth is Government 'public service ' and allied services connected to N.D.I.S. and aged care!!!! Private Sector job creation is going backwards at a Gold Medal rate???? Tread warily....it will likely get tougher before getting better.😂😂😂😂😂😂😂😂😂😂😂🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘
Covid really did bring trust in Government to new all time low. Amongst many other things, the massive wealth transfer to big corporations and the wealthy was sicking.
Both Government and media got exposed during the pandemic. Both are not coming back from it. #itsover
I’m hooked on this series. Mark Bouris and Koukie make a great team
Wages will never increase enough to claw back the extreme spikes in cost of living.
That’s concise AF. That runaway train will not be caught. According to the RBA calculator, total inflation over the 5 years from 2018 to 2023, was at 20%. In FIVE years! The shopping trolley disagrees…. It’s much much higher.
HANDS UP IF YOU DIDN'T TAKE A CENT FROMM THE GOVERNMENT COVID CASH GIVE AWAY, BUT NOW PAY DOUBLE INTEREST RATES
.....so glad teenagers and social security recipients were were given more money than they'd ever had in their lives....
I did not received any free money so as many Australian who worked through Covid and did not receive any government's handouts but copping inflation today.
no money and not a single paid day off
It doesn't take an Economics graduate to understand that if you put money into an economy that isn't producing anything, you get inflation. If so many people aren't working and producing any output, what on earth could you possibly thought will have happened when you hand them cash?
But it wasn’t the stimulus, the stimulus only increased new cash by 14%, the problem was too much money chasing too few goods, so you can produce stimulus without inflation as long as supply os fine and there’s plenty of goods.
So Your answer is too simplistic.
Like they said “like everything in economics it’s never usually one thing”.
@@Vgallo It was the fact that people were forced to sit at home and not work and given money to spend. What you describe is a symptom of what happens of when production stops because people stop working. It's exactly the same thing. Sure the amount of new money into the economy may have been small, but you miss the fact that productivity didn't increase to match.
Only 14% 😂
Exactly remember even discussing at the time saying we will be paying for this for the next few years
@@mintoxmike It wasn't an 'experiment' as they suggest. It was a business party concerned about losing money so they splashed the cash. Notice how there's no disputes when the money goes to businesses but given it straight to the people, then there's an uproar (Remember the $900 stimulus payment?)!
Mark, stop bending the knee to your guests. Changing your stance depending on who's on the podcast. Stay on track Mark....
Shouldn’t of shut down period. Both parties are to blame!
@robertlayton7004 So you would've been happy to have millions of ppl die to save economic figures. An economy can recover. Life can't once its dead.I worked in an ED during that time, shut downs were implemented to give the hospitals a chance to get ppl recovered and discharged to allow the next person to be saved. Look at countries where loved ones were being ventilated by their families in the passage ways, just to give them time to be able to get a bed in a hospital. We knew ppl would get sick, it was about reducing the number that would get sick all at one time. Hence the opening and closure cycles. The economy is about human life not just numbers on a spreadsheet too.
Bouris is the only one in this conversation that sounds like an economist.
Heard the numbers and sorry no one is going to believe this inflation . Bread and milk are up . Tell an Aussie on the street we beat inflation and you will need medical attention
Don’t think they said prices had gone backwards. Just that the rate of increase (the inflation rate) had slowed.
Certainly so, i must live in a different reality when going to coles/woolies
If you want prices to actually drop you are looking for price deflation. They want to avoid that even more than they want to avoid overheated inflation. Basically it's not going to happen. You will have to earn more money instead as most things won't be getting cheaper (there are some outliers like fuel)
Newsflash. Need to earn more money
lol you totally misunderstand what inflation is, 2% means prices only increase by 2%, and beating inflation doesn’t mean we go back to what prices were before, it means we’ve reduced prices increases to 1% less than wage increases ie it’s growing at an acceptable rate.
Did you guys even listen?
QLD gave $1000 subsidy and $0.50c public transport fares that's going to make inflation down. When they go they will go up and fuel has gone up 20c recently and you have automatic index rises on excise taxes on fuel, booze and smokes.
Inflation is a rate of change. Even if the subsidies stay CPI will spike.
This bloke is a paid actor, brought to you by the federal government. One job they created last quarter
Guess what, the entire government is comprised of paid actors. The world looks different when you understand that.
Gov has the worst policies for long term growth too. Birth rate? No worries just import population. House prices? Push them up who cares. Want to start a business? Makes lending hard and prohibitive rules. Employment issues? No worries just pump a whole heap of non productive jobs like ndis at expense of taxpayer.
Nailed it! Non productive Ndis
Sorry guys … mortgage holders are not paying the price for inflation - we all are. Also they are victims of interest rates artificially low for too long. The rates are still too low, the whole nation is broke and over leveraged
Exactly right. Inflation affects every single person that spends money in the economy. What a silly comment Mark B.
The residential property market is valued at circa $11 trillion, and the total debt against that is circa $2.3 trillion. Sorry, but that’s not over leveraged.
You dont factor in the 1/3 of homes owned outright.. no mortgage $$$$ So even if your figures are accurate the ratio of leverage is approximate 8 trillion value to approximate 3 trillion debt. What happens when coming economy correction ARRIVES??🧨🧨🧨🧨🧨🧨🏘🏘🏘🏘🏘🏘🏘🏘🏘🎉🎉🎉🎉🎉🧨
Home loan interest rates should never have gone below 10% p.a.
Inflation does not affect everyone. Your kidding yourself. The rich are living very comfortably at the moment. The lower incomes and mortgage holders are suffering the most.
Unemployment numbers are BS. Lots of unemployment. IT Job ads getting 100+ applicants on the first day. Redundancies still happening, many companies doing it by stealth, no comms. Many IT people been looking for work for over 12 months.
Intrest rates are gonna be alot higher down the track than they are today.
Thanks for the update, keep up the good work.< Learned a lot from my market journey, especially the importance of living within one's means. With Loraine Souvenir’s guidance, my nest egg has grown to a 7-figure sum. My advice - get an analyst for better financial trade decisions and peace of mind
Surprised to see her mentioned here! She tailors trading courses to suit beginners’ needs and really knows her stuff. Her advice has been invaluable to my trading journey-definitely worth it!
Wealth building and financial freedom are attainable with the right knowledge and tools. Using proper financial strategies and products is essential to growing and sustaining long-term wealth.. glad to know you want others to succeed
It's truly refreshing to see a comment about Loraine Souvenir. I've also had the pleasure of working with her for several months after discovering more about her online. She has a knack for simplifying complex issues, whether it's a market surge or decline. Her approach consistently keeps you ahead of the curve. I'd call her a guru, for sure
Thank you for sharing your experience. She’s helped grow my reserve, despite inflation, from $87k to $246k as of today..Her insights and daily siignals are worth following.
I just did a web check with her full names mentioned
Great Australian perspective for updates, keep going with the podcast and insights Mark!
Koukoulas is a cheerleader for insanity
Top ranked 'CLOWN ' ...self serving positive spin to pump 'PROPERTY PONZI!!!'🎉🎉🎉🎉🎉
Wouldn’t be surprised if he was loaded up on boosters
Snake Oil sales man
He’s way too excited about his property portfolio booming again. Acting like everything is back to normal 😑 2.8% on prices that have tripled doesn’t get me that excited. We need years of deflation to return to pre covid numbers
I'm still worried about inflation. I'm an importer and the price to import a 20' container has jumped up to $US2000 just the shipping charge, this is like covid levels. Importers will have to increase price's.
Australia needs to have a proper recession. Immigration, stimulus and keeping interest rates low is just prolonging this mess. Our economy will not start again with housing sucking up most of people’s wages. House prices and rents are out of control. It’s the result of low low low interest rates for way too long. The RBA needs to hike rates to stop fuelling the housing market.
Spot on🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🎉🎉🎉🎉🎉
They were too low for a long time. But now they have been too high for a long time. The rates in this country compared to the average loan are insane. It's actually the worst place in the world right now to be paying a mortgage. Rates are now going to lower to a reasonable level. The supply of housing is still too low in this country. Prices will never fall untill that is addressed and I hope it is for the sake of the younger generation. I mean those that are about to enter the workforce.
Lol rates aint going down. They need to go up@@Nick-mq9vz
RBA doesn’t not control the mortgage rates. RBA controls the short term bonds and fund rate. Mortgage rate is market based and mostly tracks the 10Y bond.
Who controls the 10 year bonds?
@@Halflionhalffox The market.
Personally I lost two businesses within the fitness space due to lock downs. On the other side I returned to the work force in a previous role within the building industry where companies not only profited from government payments but also had record high margins due to shortages.
The government should claw back from companies who had taken advantage.
The criteria of showing a 2 week downturn in revenue was not the correct approach.
There was some big names on that list as well.
Thanks gents, good to hear the playback of the stimulus. Was too generous and now we are paying the price, however I agree was better than all those job loses and more importantly all the small business closing and never to reopen. Would have been horrific. Funning though a lot of people look back and criticise the government of the day, but at the time the same people were pushing for more government given more support. Can't win. Time to start paying back this debt Albo and Charmers.
Our employment number is low but also more ppl now have second casual jobs
Kouka was on the right track. Need some other measure of inflation that adjusts for items that interest rate hikes have no effect on.( He mentioned insurance and dwelling rents as an example.) There was some side tracking in the discussion and he did not finalized his comments. I would be interested to see him discuss this matter further as this would be the key to future setting of interest rates.
So RBA doesn't want unemployment to be low( so i am jobless now) and i reduce my repayment as I cannot afford to pay my EMI anymore( which is already double ) the bank says what is the plan to get a job and pay the arrears.Now what should i do? If i work RBA does not reduce rate and if i dont work and pay my arrears i might lose my house.what am I supposed to do?
Talk to your bank, is what you do. Payment holiday can be arranged until you’re back on your feet
CPI is not inflation, its a consumer index of prices- highly manipulate. Purest measure of inflation is monetary inflation, which has been running long term over 8% annually. If your wealth is not hurdling 8% you're going backwards #cantilon affect is grinding most into the ground.
Uhhh yeah they are paying a high interest rate while also getting massive house growth from the stimulus and low interest rates 😂😂
22:57 😂 Bullslop. “It’s not over but it’s no longer a squeeze on my finances”. wtf? Of course it is. Nothings getting cheaper. It’s still the same price. And increasing. This is propaganda to “proppa uppa the market”
The blame on interest rates is miss guided. Many took up unrealistic and obscenely low interest rates which were never going to be sustainable at 0.1%. The rates now are about normal and reflect the fact that those who had taken out mortgages when the rates were at around they are now are not going through mortgage stress. Only those that took large loans bases on 2-3% are in stress now……the inflation rate resulting in high cost of living is the pain point.
Expecting rates to come down to offset high inflation is not realistic. The government is the cause and making of the current situation and high inflation. Stupidly high house prices driven by supply and demand from unrealistic immigration is the one of the main problem right there. 550,000 immigration and irresponsible government spending, 7 quarters of negative growth putting us in a technical recession…..game over.
Was this podcast filmed before the IMF World Economic Outlook was released last week when they said our inflation is forecasted to be the 2nd highest in the global advanced economies?
What if how the RBA are collecting unemployment and inflation data is wrong like it is in the US? The RBA are making major decisions on data that’s potentially not accurate..
Why is our Productivity poor compared to the US and others, don’t understand why, can anyone enlighten me please?
Love M & K together and the content & Ks shirt
Inflation has creeped up and not coming back down . Covid was a test for an upcoming global reset . The solution to the debt crises is to hyperinflate until you can't anymore hence why we are going to see a global economic reset. The encroachment of the central banking system upon the world economy was the biggest demise of mankind
The key is to own assets that will beat inflation. Saving fiat money for your retirement is the most futile thing to do.
Don't forget we had record low interests rates before the pandemic. The last government were completely economic and financially inept. The RBA was desperately trying to stimulate spending in the economy, at a time we had record high levels of government spending (before the pandemic), it just wasn't going to the right areas. Then when the pandemic hit, interest rates were already at record lows and the RBA couldn't use their blunt instrument.
The government should not have interfered in the market.
the issue is most of the money was given to already affluent people to make their net worth go up and the average person that is struggling is fucked
Maybe the could do a Inside Business panel (Alan Kohler, ABC) on ch9 or something on a Sunday morning or in here with some guests?
within 10 minutes, sounded like a politician, tuned out.
Jobseeker/keeper was the best policy that saved alot of jobs and the best welfare policy ever that saved the country and it came from a Liberal Government. Josh Frydenberg was a hero that was never validated for that immense policy. Victoria was the longest lockdown anywhere in the world causing unnecessary suffering to so many but no enquiries there and Dan Andrews hailed as hero & possibly a statue built for him for keeping Victoria is such great economic shape that everyone wants to stay there and not to migrate to Queensland!
Yes in the beginning all the stimulus and all the hard lockdowns were necessary until we figured out what this virus was. When we found out what this virus was, who it was killing, percentages of deaths etc...we still did the same thing for the next 2 years.
Work more,eat less
Life is not cheaper.
We been inflated as ecspected😊
I’m so glad I read the comments after watching this guests response to the first question . Nothing to learn here . I feel he’s bought or compromised in some way, making excuses for the govt.
If the RBA drop interest rates it’s game over for Australia. We produce nothing, nearly everyone is working for the government in service industries. Oh and wow public transport is down🤣 forgets about state government subsidising public transport.
Prices go up & stay up GREED is the foundation of Australia why would corporations lower fees & prices if they can they will they’re making hand over fist…
The inflation figures are way under-reported. If you are suffering because you are in too much debt, please don't expect any sympathy from me.
We basically got stuffed by the government by taking our incomes and giving it to companies that profited. How many politicians will see lucrative jobs after this?
@19:44
"Breaking news, the CPI numbers have just come out, bare with me, just refresh my page.""My God, quarterly, 2.8"
.oh, please, you fake bureaucrat try hard.
Stephen Koukoulas still on the payroll. Properganda think tank.
Everyone knows CPI (Consumer Price Index) figures can be manipulated due to
Weighting adjustments Changing the importance of certain items in the basket.
Or substitution bias Replacing expensive items with cheaper alternatives.
Hedonic adjustments, accounting for quality improvements, reducing inflation.
Also, seasonal adjustment, smoothing out price fluctuations.
....and what abot omitting sensitive items, excluding volatile or sensitive prices (e.g., food, energy).
These adjustments can lead to
- Understated inflation
- Overstated economic growth
- Artificially low interest rates
- Misinformed policy decisions
Critics argue that CPI manipulation benefits governments by,
Reducing inflation-indexed payments (e.g., social security)
Maintaining low interest rates.
Masking economic stagnation, etc etc ..
Please Mark, choose more wisely
Get Matt Barrie in the room
But stimulus only increases new cash by 14%, what caused inflation was too much money chasing too few goods, the stimulus saved us from much much much worse situations
Enough of the excuses, the data was out there, but people fell for the propaganda.
Economists are like philosophers. Lots of theories and ideals but when it comes to implementing them in the real world, they usually do more harm than good.
expected crayons from kouk. sigh
It's playtime. Humour him.
Like many, I didn't see a single cent of covid money yet am paying for it big time with interest rates. Simply a money transfer to the rich
ROFL 34:57 look at marks face
Look a .25 reduction to say .5 decreases in rates by end of next year wouldn’t really be a significant enough cut to be meaningful especially since most banks won’t pass it on
I normally love these podcasts. Very disappointed in this. Most govts including ours had pandemic plans to initially shut borders to prepare the medical system and protect the elderly. Instead the govts were the ones who caused the fear, experts talking sense were censored, actually anyone with a critically thinking brain who tried to speak out was censored, and the govt, instead of following its own plan, followed the policies of a communist country instead. And all these govts destroyed their own economies for no reason. What a joke to say it was warranted.
Down Down "interest rates" (will be coming) down....
The RBA is pig headed…
Did Mark just say that Sydney Real Estate is a 'buyers' market. Do these guys not know there's a whole world of globally diversified investments out there? The GROSS before cost rental yield on Sydney houses is below 3% (SQM Research). Even if you bought the investment property with 100% cash, what's your net rental yield after paying the stamp duty, council rates, maintenance cost and tax on the rental income? Probably still close to 0%. The mathematics makes no sense. Even if you have to be in real estate, don't these guys know you can buy globally diversified real estate ETF's or REIT's that pay positive NET 4.5% cash flow and many of them can be bought at significant price discounts to their pre covid highs.
This is full derp de derp. If you're buying Sydney real estate as an investment, I'd like to try some of what you've been smoking. You're not an investor, you are a speculator.
It wasn’t necessary, it was overblown and lasted too long. I’m sick of these clowns justifying “dumb”
Albanese spreading dis and misinformation
Stephen has ZERO shame being wrong time after time and still comes on this podcast or morning shows.
all the fat old people were scared, young people were not
BS - my brother was in Europe and just made it back in time. He's a chemist and he was terrified with what he saw in Italy, you have no idea.
Tell that to the fit young people that died.
Oh and to not quote the mean and to quote the distorted figure is fkd . Your podcast is like cnn
News flash...around 80% of job growth is Government 'public service ' and allied services connected to N.D.I.S. and aged care!!!! Private Sector job creation is going backwards at a Gold Medal rate???? Tread warily....it will likely get tougher before getting better.😂😂😂😂😂😂😂😂😂😂😂🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘🏘