‘Warning’: Australia’s economy facing ‘exactly the same problems’ as the US
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- Опубліковано 30 кві 2024
- Australia is facing “exactly the same problems” as the US, says Sky News Business Reporter Edward Boyd.
His remarks come after the US Federal Reserve held interest rates steady at 5.25 to 5.50 per cent.
RBA Governor Michele Bullock is expected to cover “virtually the same topics” in her press conference, which is scheduled for next week, according to Mr Boyd.
“This is just a warning sign for us of what to expect next week,” he said.
Economists have tipped the RBA to start making rate cuts in November.
What did people expect to happen after the covid debacle.
I told all the branch covidians major problems ahead. They laughed with their masks on
A mainstream news tv station reported that Covid numbers where faked in one major hospital yesterday, lol probably own up in a decade!
We are the United States of Australia, does not surprise me one bit... Australia was sold out years ago unfortunately 😢..
amen
My cash profit fell by 92.6% which means i can only afford to eat carrots.
Vote One Nation
its too late
Makes no difference. Like any party, the collect the money from the votes cast into their party, and disappear into the sunset.
Vote Two Nations
Vote anyone, pushing communist bs out of our country!
You think Kim jong Biden would be an upgrade from democracy do ya?
Vote for any party prepared to redact the previous governments policies. Except the big 2.
Depends on timeframe reference. Australia is DEFINITELY in the pre-GFC phase as for the US in 2006-7. In mortgage debt at extremely dangerous levels that you've been warned about for at LEAST 5-10 years. But, kept going! Your economy is now so completely reliant on residential property retaining (and/or increasing) its value, BOTH your political parties are desperately pumping the demand gas pedal via mind-bogglingly ridiculous levels of net in-migration. Exacerbating an already insane housing crisis. "Lucky Country" yeah right.
For sure, Australia has a lot of mortgage debt and an unhealthy reliance on property wealth. But unlike the US pre GFC, Australia has pretty stringent mortgage lending criteria, its banks are well funded, and most importantly it has not turned its mortgage debt into a huge pile of leveraged speculative investments.
Luck left many years ago just pathetic and woke now !
It seems like Australia doesn't have much hope, does it? Besides real estate, what else can it rely on? The entire country lacks any internationally competitive industries.
After a hundred years of reserve banking the inflation target has always been under 1%...
something i expected no surprise
It’s worse here we have variable rates
Warning ⚠️
Warning ⚠️
Danger ⚡ Danger ⚡
Be full of Fear people
Well we've all seen how well being full of ignorant complacency has worked out over the last 50 or so years... I'm not saying be afraid of the flu, but it is reasonable to have concerns about the systematic destruction of the western world that we are all witnessing in real time.
Learn to survive without money....
People been doing it since the dawn of man.
Welcome to unservicable debt, lowbeams
Funny you should say that 2nd in charge of Reserve Bank of Australia, she is in charge now, told senate estimates, reserve bank was 'broke' but no problem they could reverse the problem by printing more money. That was last August 2023.
Lets put ours higher than the US for one quater
Our rates need to go up! Or inflation will continue to throw aussies under the bus
Stop printing money
While you at it clear out anyone handing down generation upon generation of wealth.......
😂😂😂
Whats the bet even you wouldn't like that idea!
Give me half your sht!
I don't deserve it, but neither do you...
See the stupidity in your comment?
Did u know bringing foreign money into Australia thru immigration has exactly the same effect as printing?
Same Banksters.
We are stuffed! Thank the Coalition for leaving interest rates far too low for too long! The Aussie romance with housing took over! Where is Frydenberg now? Now, we just have to pay up and smile. Pensioners were being deemed more by Centrelink than they received in bank interest. No wonder they lost!!!
TERRIBLE TO LIVE IN TENTS DURING WINTER. SO COLD DAMP AND DISEASES. SO SORRY NO CHINESE MONEY
Interest rates are on the low side of normal.If people think mortgage rates of 2/3% are going to come back they need to face reality.The rate is normal about 5/8%
They can fool u with the bait of a low rate. Just include loan application fees and compulsory insurance which the banks also provide.
Us problem is it will soon be using 6% of gdp to service its loans according to other sources. What exactly is ours to theirs ratio.
Because our dollar is backed by the U.S. dollar
Jimmy came back to Australia a changed boy. Most Aussies were looking forward to reduced interest rates. It is not going to happen. Pay more you bastards!
Doesn't take rocket scientist to figure out why?
Bidenomics and Albonomics is one and the same thing.
Yayy more interest for my savings.
Hang on- not exactly the same
The USD is the world reserve currency
AUD will fall further in value as our rates are 1% lower than USA and also lower than many inOECD
RBA has to up the rates to at least 5%
Yup! 51st State.
Both Labor and coalition have fueled the property bubble. Going to be a massive financial crisis- the one we should have had in the GFC but no China now. Will be worse
In country Victoria where there are no jobs you have had people from Melbourne city coming out and buying up to half a dozen properties each for investments and also moving down here themselves its actually made things a lot worse because there were no jobs out here to begin with but now you have all the indian & Asian migrants buying up all the local businesses and they are imploying only their own race (most likely because they pay cash & below the minimum wage) and the house prices & rental prices are almost the same as Melbourne city now when these areas have been the highest unimployment areas for decades it just doesn't make sense whatsoever. Iv been out of work for almost 4 years now after multiple back surgeries & i can't even find a couple of days a week work let alone full-time so im having to spend quite literally over 90% of my unimployment payments on my rent & can't even afford to pay my bills. The homelessness numbers in this country are nothing right now compared to what its going to be in the coming months & years its going to get absolutely out of control. Im in the cheapest place i could find & its still costing me over 90% of my unimployment. The government should be prioritising jobs in these type areas we have all the coal fired power stations here that we were promised would employ us for our entire lives & most of us have done apprenticeships for the mining & power industry because thats what we were told our area needed when we were in school yet the government has let foreign owned companies shut down our power assets and put thousands of people out of work and the remaining power stations already have their closure dates set for the not too distant future. What are people supposed to do when even the unimployment isnt even enough to pay their rent & bills let alone food and there is no jobs & your already living in the cheapest place in the country. This government is so far out of whack its not funny.
You had economists like Shane Oliver from amp predicting 3/4 rate cuts at the start of the year now one lol how about none till 26 suckers
Usa rate will not fall in Nov-
Wonder why?!! [sarcasm/'OFF'!]
😂😂
Because we have the exact far left Albo government similar to US
Foe everyone blaming Labor for inflation, itsis a world wide problem, not local. It has been coming down per the latest figures, so you can credit Labor for this fall.
Nice try but Labor are finished. We've had enough of the lies and broken promises
@@Father-Grandfather What broken promises and lies exactly? Before you say $275, this was promised BEFORE the Ukraine war and due by 2025. Labor aren't responsible for world oil prices.
@@Dont_Gnaw_on_the_Kitty Don't you watch the news, oh silly me, you live here?
You’re absolutely dreaming, if there wasn’t a ridiculous immigration policy then there would have been deflation. Assets wouldn’t be artificially high and inefficiencies would be addressed.
GOLD = OLD / GOD / GOD'S MONEY!!!
US DOLLAR = MICKEY MOUSE / PLAY MONEY!!!
DEBT = DEATH!!!
Bless the God of Shem and cursed are children of japeth the king of global North
Not exactly the same problems at all. The US economy is still running hot thanks to the massive fiscal stimulus from the Inflation Reduction Act, whilst the predominance of fixed-price mortgages there means that consumer spending has been little affected by higher interest rates. Here, fiscal policy has been neutral, mortgaged households have been hit hard, and consumer spending is the weakest it's been in decades.
**WARNING WARNING DANGER DANGER MAGA** 🤡's
Inflation has been going down for 6 MONTHS NOW in both US & AUS 😂😊
As debt continues to go up