For a “non economist” you did very well. Our whole economy is debt and consumption based. IF? we have a recession, due to the level of both Government and Personal debt, it will be very difficult for us to recover (by taking on MORE debt OR MORE consumption. Nobody wants to hear negativity but it’s good that you warn people (just in case) you’ve done well👍
Thanks Peter, I beleive it a generation will have to take most of the brunt and then it could take a generation to get the economy where it should be. I saw a graph (I'll post it) which was all the new job creation - none of it is being created in the private sector.
@@willbellmortgagebroker You are again correct - they are Government jobs - mainly NDIS, some nursing/aged care. Together with immigration/mass peopling it is the Government’s last gasp attempt at keeping us out of recession/depression. Similar in UK, NZ and Canada - it’s as if they all received the same memo. Good younger people need to be running the country as the oldies have obviously run out of ideas and are only catering to their self interest. Good young people like you, Will and I am sure there are many others. Good Luck👍
This is a great opinion piece. Great insights based on logical arguments. I really appreciate you sharing this, thanks so much! I don’t come across this sort of stuff often, I don’t think there’s much out there. I recently did a podcast with Tim lawless on property prices in each capital market of Australia. Would love to hear your thoughts!
RBA haven't done the job, we still have elevated inflation... if they don't raise rates at the next meeting we know they will choose inflation over recession, recession means correcting their errors inflation means currency devaluation and digging the stimulus hole deeper.
Did people think we would return to the old days of negligible interest? Don't be absurd! Australia has run out of European migration, which has kept the country afloat by supporting existing infrastructure. The introduction of immigration from desperate and disadvantaged people, changed the paradigm.
yes, the new immigrants seem to be lower quality... where i live there are many new arrival immigrants that don't work and just hang around the street, collecting gov benefits... very bad sign for the future.
For a “non economist” you did very well. Our whole economy is debt and consumption based. IF? we have a recession, due to the level of both Government and Personal debt, it will be very difficult for us to recover (by taking on MORE debt OR MORE consumption. Nobody wants to hear negativity but it’s good that you warn people (just in case) you’ve done well👍
Thanks Peter, I beleive it a generation will have to take most of the brunt and then it could take a generation to get the economy where it should be.
I saw a graph (I'll post it) which was all the new job creation - none of it is being created in the private sector.
@@willbellmortgagebroker You are again correct - they are Government jobs - mainly NDIS, some nursing/aged care. Together with immigration/mass peopling it is the Government’s last gasp attempt at keeping us out of recession/depression. Similar in UK, NZ and Canada - it’s as if they all received the same memo. Good younger people need to be running the country as the oldies have obviously run out of ideas and are only catering to their self interest. Good young people like you, Will and I am sure there are many others. Good Luck👍
Forcing digital economies? IDKS.
This is a great opinion piece. Great insights based on logical arguments.
I really appreciate you sharing this, thanks so much! I don’t come across this sort of stuff often, I don’t think there’s much out there.
I recently did a podcast with Tim lawless on property prices in each capital market of Australia. Would love to hear your thoughts!
Hey Jack,
I'd be happy to. You got the link?
RBA haven't done the job, we still have elevated inflation... if they don't raise rates at the next meeting we know they will choose inflation over recession, recession means correcting their errors inflation means currency devaluation and digging the stimulus hole deeper.
What impact will a lower Aussie dollar have though?
Did people think we would return to the old days of negligible interest? Don't be absurd! Australia has run out of European migration, which has kept the country afloat by supporting existing infrastructure. The introduction of immigration from desperate and disadvantaged people, changed the paradigm.
yes, the new immigrants seem to be lower quality... where i live there are many new arrival immigrants that don't work and just hang around the street, collecting gov benefits... very bad sign for the future.
Im sorry but paying America for subs at 360 Billion and now it could possibly double.
50,000 government jobs created lol 👌🏻