Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
Interesting, Mind if I ask you recommend this particular professional you use their service? honestly right now i have quite a lot of marketing problems.
“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Australian here, small correction. It should be noted that the term "the lucky country" didn't originally refer to our vast resource wealth. The term comes from a book by Australian political commentator Donald Horne, who released a book of the same name in the sixties. The book was a commentary on how he thought Australia was the "lucky country" due to the fact that Australia gained its economic prosperity by chance, rather than by good government.
@@nomoreheroes93 That's why we got comments like OP's to add a little more perspective or adjustments to the video's content. TH-cam would be garbage without these inputs imo.
@@nomoreheroes93 minor slip-up. They usually cover the general topic well. People often BS nitpick in reality. Live in Australia here and know the underlying issues very well from a detailed perspective. Another Brit, called 'Econ', covers it even better, and in reality, covers it better than a lot of Australians understand it.
I'm eagerly looking forward to a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also considering investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen significant trading profits, but there are concerns about the market's instability and the chance of a dead cat bounce. Could you explain why this market phenomenon occurs?
Investing in both real estate and stocks could indeed be a wise choice, particularly when accompanied by a carefully crafted trading plan to maneuver through profitable prospects.
In challenging market conditions, it's not about mistakes; it's more about lacking the expertise to thrive. During such times, seasoned individuals who weathered the 2008 financial crisis are best positioned to foresee substantial gains.
Contemplating the idea of consulting advisors for guidance has been occupying my thoughts lately. I'm at a point where seeking counsel could be beneficial, but I'm uncertain about the tangible advantages their services could provide.
‘Grace Adams Cook’ , my CFA, boasts a stellar reputation in her field. I suggest delving deeper into her qualifications. With her extensive experience, she serves as an invaluable asset for those seeking financial market advice.
Thank you for sharing, I must say, She appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
Not really as much as you believe it is. Our politics is quite alright from that point because largely both sides know they need good revenue coming through (Labor to budget their expansionary policy and liberals to control spending from the expansionary policies expanding quicker).
@@Whoisthis1111 “Expansionary policies” Remember how the liberal party spent 4 years in opposition scaremongering about growing deficits under labor only to triple it a few years into gaining power? The idea that labor governments spend more than liberal ones is just simply not true
Another Aussie here. The galling thing is that Australia has an abundance of raw resources that everyone needs, like lithium, uranium and other rare earths but simply exports the raw minerals as is. If we invested more on processing and value add processes like manufacturing batteries, uranium enrichment, and other clean energy products, our GDP would skyrocket.
The government is doing that with its (yet to pass) Made in Australia legislation. It's seeking to build the manufacturing back up in the areas we will need like mineral refinement and battery making.
Yeah the problem with that is location of the resources and population centres, it's a LOT cheaper to export then to refine domestically even when we basically gain nothing in taxes. There's simply no commercial benifits for a private company to do that here vs elsewhere considering there's established chains and hubs which lead to greater markets.
Australia, Canada, China, Japan, South Korea, Germany, Italy, Spain, UK and France, they all have one common for their current economic crisis: housing. This is the crisis Australia is facing, and they are not alone.
@@PwerRanger01Those Too many Are Human Sirrr , Get out Hatred for other humans , Life is a Gift of god and are all their children ,,,,,,,,Not trying to degrade you but have some empathy when You talk about other humans…….❤❤❤
@@OP4Kthey have a population decline crisis and a lot of towns are becoming empty and derelict because of it. North Japan is becoming very deprived because of the population decline and it is a new crisis not many people know about it
Not really European countries biggest problem is they are dependent on energy imports from Russia and other regions they are now forced to buy expensive lng gas that makes industries less competitive than China that has cheap Russian gas
Correction, Australians with homes are some of the wealthiest in the world. The rest of us will rent forever as it is now almost impossible to enter the housing market.
your in the housing market if your renting, a good long term renter has as much chance of buying there own home as someone who has savings and a steady job; but having a little savings helps as well!
@@myleswhite2100 If you have not made decent, and I mean decent, amounts of money over the past 20 years or so I do understand, this answer comes from your reply. The making of money has always been available it just requires education, effort and some applied intelligence. This letter is not meant to be hurtful it is just trying to advise you to get a different mindset. I made it, and I am nothing special, you can make it if you really want to.
Missed an important factor... we don't charge royalties on around half the gas we export. We give it away to mostly foreign owned multinationals! And like most multinationals, they don't pay (much) tax either. 😞 Can anyone say 'state capture'?
I was trying to explain this in another channel but can't make this simple statement without someone trying to blow up an argument. It's amazing how many huge companies are paying no tax and it's all information available wit a simple goggle search. No matter how bad the shafting some bonehead wants to defend it and be proud of themselves. @ozzybloke4830
There was a report recently showing that we actually give 90% of it away for free now. Apparently we need to "listen to the needs of the industry." Which translates to let the industry make billions for free and at average Australians expense.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
The saying " The Lucky country " doesn't mean what you think it means. " Australia is a lucky country run mainly by second rate people who share its luck. It lives on other people's ideas, and, although its ordinary people are adaptable, most of its leaders (in all fields) so lack curiosity about the events that surround them that they are often taken by surprise " - Donald Horne. It's very accurate lmfao We rely so much on dirt and immigration to keep the numbers afloat, and i'll add selling over-inflated house prices to that list too because Horne would've done so too
There have been so many third-world countries with skilled and motivated leaders, that are still trying to claw their way up towards development and wealth Meanwhile we've had prime ministers soil their pants in Macca's and we are still one of the best economies in the world
@@socialistrepublicofvietnam1500 On the one hand Aus is a big beneficiary of its western ties, on the other hand it's such a puppet state that just the hint of a mining tax got Obama panicking and replacing Rudd (We have the Wikileaks audio).
"The Lucky Country" originated in Donald Horne's 1964 observation that 'Australia is a lucky country, run mainly by second-rate people who share its luck.' In other words, Australia was 'lucky' despite the mediocrity of its political and business classes.
Hard to attribute luck to Keating's floating the dollar before the 90s recession, and Swan's implementing the bold Keynesian stimulus during the financial crisis. Not to mention the relationships built between Australia and the major Asian countries. All these are examples of extremely informed foresight. Unfortunately we've also had the opposite with other governments such as JH's terrible understanding of long-term prosperity by allowing all of the 90s mining boom go into the pockets of private companies (on and offshore) and his insane changes to the capital gains taxes (not understanding that interest rates change). The lost goes on. But the main point is, Australians are lucky, but their resistance to major global financial stressors have not been all luck.
It's a true however we have very few outstanding politicians but a considerable number of genuine business entrepreneurs. Not flashie but solid and certainly not media driven 😅
Man, I’ve been stacking up $21k in my emergency fund, ready to dive into investing, but with the way Australia's economy is tanking, I’m just sitting here wondering if I should wait it out. Anyone else thinking of just stuffing cash under the mattress at this point?
Hey, I get where you’re coming from, but if you wait for the “perfect” time, you might never start. Sometimes, it’s better to get your feet wet, even if it’s just a little at a time. An investment advisor could help you get a head start, even in a rocky market.
I’ve been thinking the same thing. I want to get into investing, but I’m a bit lost on where to start or who to trust. Do you know where I could find a solid investment advisor?
There are a handful of CFAs. I've tried a few over the years, but 'Linda Aretha Reeves' has been my go-to. Her performance has been consistently impressive, and she’s well-known in the field. Might be worth looking her up!
I caught Linda Aretha Reeves at the Bloomberg Finance Summit about four years ago, and her presentation was terrific! Definitely someone who knows her stuff.
It's far worse than that. There has been a huge wealth transfer that has doubled in the last 20 years from the average person. "The result is that the wealth of the richest 200 Australians has risen from the equivalent of 8.4% of the nation’s GDP in 2004 to 23.7% of GDP in 2024."
@@lores996 The middleclass (which is stupid regardless of country) does not understand it itself is taxed by inflation. Yeah the richest few should be taxed, I agree, in Australia, in my country, in all countries. But I beleive there is one tax possible only - deflation. And the middle class does not request it so, dream on! There will be no taxes on the richest few / Sweden
Australian here. Our economy feels pretty fucking shit if your on the bottom of the pile. Can't afford to buy a house and getting fucked by inflation on food prices....I feel so "lucky".
@@vtgaming9204 in almost every OECD country housing is a major issue along with a huge wealth divide. This is very common knowledge. I recommend reading the news or even just Wikipedia articles to help :)
Mass migration through international students. That’s another mean of cheap but unsustainable method of economic growth that the government loves to engage in.
@@enticingmay435 They just cut it drastically due to public pressure. Not sure its a good thing to have our universities decline, especially when more kids are abandoning universities and advance studies.
You barely touched on negative gearing, which is perhaps the worst system in existence. Essentially, you can borrow money to buy an investment property, and write the interest losses off of your normal income. This essentially blows up house prices, while making the rich richer
The Greens are the only party taking it seriously. If voters take them seriously, then the next election will produce an interesting result and may finally see some sanity put in and ideology taken out of the investment property policy.
@@engrumarkhan Labor went to the polls in 2019 with a plan to address it, basically returning it to what it was originally meant to be for (to encourage new housing developement), but Libs and Media called it a Tax on Housing and they lost the election - lumping us with Morrison...
Negative gearing itself isn't a problem as it is implemented in other countries. There you can negatively gear one investment and deduct its losses from your other investment income. The problem is that Australia allows negative gearing to be applied to wages income. That's where it gets used as a tax minimization system. It's not about "making the rich richer" directly, but it does indeed drive up property prices to do that indirectly by increasing the amount of the population who are happy to invest in housing at a loss for tax minimization purposes. That is what causes all the issues associated wtih shortages of housing supply and inflated property prices.
Saved up $88k in an emergency fund, thinking I'm all set to dive into investments, but now this video has me second-guessing everything! Australia’s economy tanking wasn't exactly in my 'How to Start Investing' guidebook. Guess I should be looking at safer options? Any tips from seasoned pros here?
Yeah, I get the panic-had the same jitters when I first started. But here’s the deal: this might be a good time to diversify, even in a shaky economy. Don’t forget, a good financial advisor can give you the clarity you need. Mine did wonders for me, so maybe look into that before making any big moves.
I’m in a similar boat, trying to figure out my next steps. I know I need a financial advisor but have no clue where to find a reliable one. Any suggestions on how to go about this? I don’t want to mess up my first big investment
"There are a handful of CFAs out there. I've experimented with a few over the past years, but I’ve stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field, look her up."
Watched Linda Aretha at the Bloomberg Finance Summit a few years back, and her presentation was terrific! Definitely worth considering her for financial advice.
A bit of additional context for non-Aussies. Most mortgages are on variable rates or are fixed for short periods only, 15 or 30 year fixed rate mortgages don't exist. Hence, those higher interest rates apply more broadly. The median house price in Australian cities is close to A$1M and 'starter' homes are A$500-600K. My mortgage is now $900 per month more than it was three years ago.
Thank you for adding that detail. Interest rates, most likely, come down in the future which will help you. Like a lot of Americans, we refinanced our mortgage a few years ago when rates fell to 3%. So, now we have 30-year fixed rate mortgage at 3%, which means we aren’t moving until interest rates fall again to about 3%, which is unlikely, which means our house will not be on the market until we die. Since a lot of other Americans have very low, fixed mortgages, the supply of available houses will remain tight until a lot more new houses are built, I suppose.
Long term rates like 40 year mortgages do exist, (you have to ask the right loans agent), but they are at such insane interest rates over the life of a mortgage that it isn't generally viable. They also require houses with at least 20% paid off, and incredibly stable employment (such as government staff) so new home owners don't apply.
Only $900 a month? Mine is $3000 a month more… have also had to invest about $300k making a $million home comfortable, but that is nothing compared to what you pay in London on generally lower wages.
Seems like if you just build more houses, stop promoting housing as an investment, and stop reducing student visa's, then the the economy would work it self out with some time.
@@coolbanana165 "Build more houses" is wrong, our cities are sprawling enough to begin with. What we need is more apartments. However, easier said than done, building is Aus is a nightmare rn
Another Australian here. with all the interest rate rises, our mortgage repayments have gone up $1000 per month since the lows of covid. As interest rates go up, investors increase rent prices making just having a roof over your head incredibly expensive. The other drivers of inflation have also been our of the average person's control: petrol prices, groceries, energy prices, so people are paying a lot more just to drive to work (don't ask about public transport. It effectively doesn't exist), put food on the table and keep the house warm and the lights on. All this means there isn't much left for luxuries like takeaway on friday night, going to the movies or eating out. Meanwhile, self-funded retirees and rich people with investments have these increased expenses subsidised by the higher interest rates increasing returns of their investments. The wealth inequality gap is widening, but the liberal party pretend it's not happening, and labor seem powerless to stop it. It all seems pretty bleak right now.
Labor has to fight the senate for everything to past, Greens, liberals and nationals are being obstructionist as fuck. we need to vote all the liberal nationals out and have every voter agree to get rid of Capital gains discount and franking credits.
This Labor Party is acting like how the Liberals did 10 years ago. Incredibly spineless. We need more Independents in government to get rid of this duopoly.
We've abandoned the family. So instead of houses costing what 1.5 incomes can afford (assuming the wife counts as 0.5) they now cost what two incomes with no kids can afford. And furthermore with our immigration, they cost what a bunch of people who only want a room each can afford. Investors don't make as much money as you might think. You buy a house for $500k sell it for $1M a few years later Gov takes 25% of $500k profit. Now you can't buy the same house back because you're short $125k. You might have made money, but you made no wealth. We've got a housing ponzi scheme that the government is addicted to....
Honestly, saying you are guaranteed to earn more than a 4 year degree is pretty misleading. I have no doubt that it can work out, thats why people like him exist, but there are so many people who couldn't do ut his way, I just started an econometrics study and if you are somewhat good with it you can expect to earn around 200-300k as an employee, I know this because I've spoken with people who have done exactly that. So the best career path really depends on what someone is good at. The things Alex preaches might be true, but certaintly aren't meant for everyone.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm new to this and have heard that now is an excellent time to buy. However, I currently have cash sitting in my bank account that I would really like to put to good use because inflation is at an all-time high. Who is this coach that you mention, and how do i reach her
Another Aussie here. To put the housing situation in perspective, my wife and I managed to buy a duplex last March for the atrocious price of 820k in a suburb 65 km from Sydney CBD. Now it has been 6 months and our little property is valued 30 k more than what we spent 6 months ago, without taking in account all the renovations we carried out. How is that even possible, how did it get so twisted ?! Nothing can possibly go up in value so quickly
The stock market is a complex system that is influenced by a variety of factors, including economic indicators, political events, and global trends. The relationship between policies and the stock market can be complex and multifaceted, and it can take time for the full effects of policies to be reflected in market trends. Therefore, it is possible that policies implemented in the past may have a "lagged effect" on the stock market, as their full impact may not be felt until later on
I've purchased numerous stocks in individual firms. Because there are so many stocks that will skyrocket in the long run, it is currently safe to buy in on ETF and ride it out. Due to fud, I sold out early, but then retraced my ways and re-invested $350,000 with a financial advisor who manages my account. I received an 82% return last year and will see where it goes this year.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.. ..
As an Australian, this is a really good overview of the issues! Would love to see more videos on Australia going forward, especially approaching the election next year. It's such a shame the current government is so incapable of fixing these issues when the opposition is so scarily worse 😔
Another Brit, called 'Econ' on TH-cam, covers it even better, and in reality, covers it better than a lot of Australians understand it. See the Aussies in the comment section of the video essentially being in denial LOL. Live in Aus here.
Current government has achieved lots it just no one's perfection. On-top of that they don't have the numbers in the senate so you have obstructionist Greens, Liberals, Nationals as well as independents that are trying to play the centre. You can't get massive change done with that. Give them the house and senate and you can see a lot done.
You can't expect magic solutions from government for problems that have been building for decades. Australians have been obsessed with housing and ignored the warnings. But everyone thought you could get rich from inflating assets. Bernie Madoff and Australia have much in common. Enjoy your laying in your well made beds.
It's a global problem. The world's capitalist economic system is slowly collapsing. Marx's detailed analytical critique on capitalism showed how flawed capitalism is. Marx predicted that the world's capitalist system would eventually collapse.
Note: The Australian Labor Party has zero intention of reforming the tax system favors real estate speculation, largely because making any changes to the tax system has become politically toxic. The Liberal Party might, it wouldn't be political suicide for them, but they also definitely won't because they're the party of the rich. Also, Australia's high median wealth is largely due to mandatory retirement plans (and lavish ones at that).
Yup, the Labor party campaigned on real estate tax reform two elections ago and lost when they definitely should have won. Now neither major party will address the issue adequately and the voters only have themselves to blame.
Both major parties have their front benches stacked with people who own 50+ investment properties each. If you think any of them are going to reform the tax system I have a bridge to sell you.
The Liberal party will absolutely not do this. They have also manufactured the situation in the first place. They have been the majority ruling party for the last 20 years at the federal level. They are far more to blame than Labor. Labor are by no means doing a great job but they've been given absolute shit tip to fix. It is also worth noting the Liberal party are climate change deniers and basically owned by the Minerals Council.
@@marcdigiambattista751 You can find all of this data as they have to declare assets. I would note that Labor have significantly less property ownership among their members.
@@marcdigiambattista751 I don't believe we have a chance, I also like to believe we'd have a chance if it wasn't political suicide to fix this. My brain works weird it seems, but I really don't want to believe both sides of politics would willfully let Australia's economy continue to buckle to enrich themselves.
You hit the nail on the head with the Dutch Disease. For anyone thinking that we don't, just have a look at an advertisement that our Richest person (owner of a mining company) just released.
might wanna add Federal government to invest $840m in a rare earths project in Central Australia a day after the federal government announced another $230 million loan commitment from taxpayers to another company partly owned by the same person. 2:30 it's starting to look as how it was not how it is today
“The Lucky Country” was originally from the title of a 1964 book by Australian author Donald Horne. The phrase has become synonymous with the country’s prosperity, natural resources, and relative freedom from conflict. However, Horne used it somewhat ironically, critiquing Australia for relying too heavily on its natural wealth rather than fostering innovation and development.
Australian here. I would like to point out that during the 2008 financial crisis we had Kevin Rudd as prime minister and Wayne Swan as treasurer and they delivered economic policy during that time that weathered the crisis and is now actually the standard response to such a crisis around the world now because of how successful it was
Correction what they did wasn't their idea but was what was recommended to them by the Secretary to the Treasury, Ken Henry and the Treasury department. What they did was follow the recommendations to their credit. Because if the opposition had been in power, they probably wouldn't have followed the recommendations. The advice was to do an immediate large stimulus amongst other things putting cash in people's pockets to stimulate the economy immediately rather than waiting until it had all gone pear-shaped. So credit to Ken Henry and the treasury department. Because the advice that the equivalent were giving in pretty well, every other country was basically to sit on their hands. And only react after the event. Only reacts after things had gone bad. By going early and going hard to quote the words used by Ken Henry Australia avoided a recession. Elsewhere they went late and the package wasn't particularly well designed so didn't have the quick impact that the stimulus package Australia used had.
@@Element8e4 Rudd was a good PM. Albo has destroyed our country by tripping immigration with zero housing stimulus to boost supply. Incompetence on a new scale
@@Asharra12 Australia didn't escape unscathed. That is certainly true. But it could have been much much worse. So we should be thankful that the government followed the advice and that the advice was given in the first place. Because this didn't happen in most Western countries where the GFC was devastating. It's very sad that in Australia and in so many other countries the people at the bottom have been largely forgotten. In good times and and bad.
The only reason we escaped the 2008 gfc was because we tethered our economy to China’s building industry. When China’s construction bubble inevitably bursts our economy will tank and tank hard.
The housing crisis would have to be a huge economic anchor on the Australian economy. This stems from there not being enough trades workers and the cost of materials due to inflation. It is also worth noting that the previous government actually underfunded the training colleges responsible, so that a shortage was inevitable.
Constant rent increases and price rises in everything, I do not have extra money to spend on anything anymore, and if i find that I have anything left over I am saving it for a rainy day. Stopped drinking, stopped eating out, coffee only at home. Many of my friends are in a similar boat, I do not know how small businesess are surviving.
Is it fair to say then that Australia allowed housing to be seen as an investment, thus people with crap loads of money already bought the limited supply and now those very people are blaming immigrants for the lack of housing? And not that housing shouldn't even be an "investment" in the first place? That's wild
Wife and I are from Taiwan. We had a swell time visiting Australia, and saw some remarkable animals. Hope to see the amazing variety of beautiful animals in Australia continue to flourish. 😊
Non Australien here, but as someone who came as a specialist during covid. I have been here for a bit more than 3 years and I can only say that from my perspective the biggest issue I see is: Australia was never challenged. The Infrastructure is crap, be it mobile, public transport, water or the roads. Everything is somewhere on a level between Indonesia and Vietnam - but nothing is comparable to modern country, adding up to this a huge lack of knowledge in modern technologies and a lot of old people in strong positions, established through a system where the education itself is not determining whether someone has a skill - to be frank Bachelor graduates in Australia are like apprentice in Switzerland and that's ridiculous - but through chartered activities, is causing modern technologies to be slowed down. I am not surprised. I would also not give up my 500k Job when not knowing a piece of software and stick to my old relay systems. Young people will never see this buying power due to the older generation having concentrated the wealth so heavily and protective. This adds up to a heavily taxed income where the net income in the end is not even on par with a graduate salary in Switzerland for an experienced person (Yes I talk about 200K AUD Salaries!). And that's no surprise that no one comes with skills, instead we got the next bunch of people from Pakistan, India, Brasil And Argentinia (sorry thats not personal!) and most of them end up in a random job between 60-120k or attending fake educational institutions - exactly not boosting the economy. The AUD is basically also reflecting this with its collapse over the last years. And then you can take the video content and put it on top of it. Do not get me wrong - I love Australia - Hell yeah, I love the sun, surf and beach - but man you guys are giving away a life quality that is hard to imagine. So this is a different perspective I might bring in here.
You're not wrong - but you don't seem to appreciate just how far apart Switzerland and Australia really are. Australia's economic, social, and technological development is THOUSANDS of years behind Europe. The first wheel arrived in Australia roughly 250 years ago. So did written language, agriculture, the bronze age, and the iron age. The population was about 300,000 - the population of Europe was about 200 million. The population today is about 27 million - the population of Europe is about 750 million. The local economics are a direct result of government profligacy. Our culture has balkanized into special interest groups who all vote for more "free" money. It seems to be a common disease in every multicultural nation.
Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $5k to $10k into trading from just few months ago and now they’re multimillionaires..
If you’re new to investing or don’t have much time, it’s best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I’ve learned this from my own experience.
Yes getting professional help is a smart move when it comes to building a strong financial portfolio that matches your long-term goals. It’s always wise to seek guidance from experts.
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can’t decide what is best. Can you explain further how you invest and earn?
As I heard about a decade ago, "the name for a country that only has resources and tourism is a 3rd world country". It's also pretty horrific to see TLDR put our housing catastrophe in such stark relief.
Fantastic video! I have incurred so much losses trading on my own.... I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
Australia's economic problems are self inflicted. 1/ In 1946 the NSW branch of the Australian Labor Party, in government in NSW and Federally, agreed the Commonwealth could permanently have income tax, but not take on responsibility for infrastructure apart from Defence, Post and Telecoms. The Commonwealth collects 80% of Australia's tax, but gives very little to the states for infrastructure. As a result, Australians retreat to capital cities driving up real estate prices. Migration is on top of insufficient infrastructure to support life in the regions. 2/ The second issue is Australians want live near a beach on the east coast between Adelaide and Cairns, and between Perth and Margaret River. To support regional cities along those coastal strips, we need a four-lane divided road and 200 kmh double track railway around the coast. 3/ third issue is street type in local centres. We favour very low density and high rise, both of which produce sterile centres. We need six-storey buildings that form walls along the streets of our local centres, like in Europe, to bring our streets to life with social and econonic activity
Recession! Crash! Inflation! It’s getting depressing. I have about $100k in emergency fund and I have been seeing good news about the stock market and would like to gain from that since I can’t let my savings be corroded by inflation. What stocks should I into as a newbie to safely grow my money.
buying the dip has proven to be profitable although for majority, the solution to their problem can be found only in specialized knowledge hence they seek guidance from well experienced advisors
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.
Jessica Lee Horst is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
Jeez .. as an Australian I didn’t know how unhappy I should be after listening to this. Maybe someone in government should tell all those huge lines of immigrants lining up to come here not to bother.
The only immigrants coming in nowadays are from countries like ukrain where we have a responsibility to let them in due to the circumstances there ! We cannot tell them to resist russia and refuse to help them !!! As for the others, they require high skillsets that are lacking domestically like doctors nurses etc !
“The illusion of freedom will continue as long as it's profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.”
When a country's economy is doing badly it is usually a combination of three factors: 1/ government policies that reflect party beliefs rather than economic realities; 2/ corporate and government inertia on accepting changed conditions; 3/ a concentration on exploitative rather than cooperative policies.
biggest challenge in re-structuring laws around tax and property making it a very lucrative investment strategy is that pretty much every politician who has the power to do such a thing has a very, very, very impressive property investment portfolio.
One thing many commenters miss is that we are fairly unique in that you are obliged to vote. The fine for not voting is only a few dollars but it does encourage political engagement. In election time, every public school is a polling booth. Voting is always on a Saturday and it typically takes me less than fifteen minutes to vote. Pre polling day postal voting is also encouraged which further drives up participation. Mind you, some people insist on voting in the middle of the day and it can take a while then.
sorry but when I see or here people talking about politics It doesn't come across as political engagement but rather a begrudging chore. its all so surface level and most people are only concerned about themselves, the media is horridly self interested and there is to much lobbying.
@@Archmagos_Faber sure it is begrudging for most people, but people that aren’t particularly interested are going to more or less vote for central issues, which I believe is keeping our mainstream parties more moderate in general, which I believe increases our political stability.
No that is not what Lucky Country means. The moniker reflects Australia's mismanaged and poorly run economy that only survives through the luck of geology in having a literal gold mine to support its woeful mismanagement. (Supplemented by wool and wheat). You almost got it right when you mentioned Dutch disease, which is a synonym of Lucky Country.
Australia's economy was doing all right until we decided to let covid rip. But on a more long term scale, since the last mining boom, really, out economy has been propped up by an overinflated property market which has discouraged investment in productive industries. You also undersold the levels of government corruption in this video, as well as the roles played by the lack of government funding in domestic services.
Our economy was heading for recession before Covid along with other developed nations. Same as right now. Our economy is a victim of global forces AND mismanagement
The biggest problem for Australia is it’s over reliance of China. China had been their main buyers of raw materials like iron ore for the last 2-3 decades, with China’s rapid industrialisation the main force behind it. However, as most people know by now, the music has stopped. There’s really no one else in the world who can take on the demand void left by China. China’s steel demand is forecasted to decline in the foreseeable future while the world demand is at best flat… so demand for ores will dwindle. On top of that, the massive Simandou project in Africa should come online in the next year or two, amplifying the already abundance of supply. And then there’s also the environmental issues as even China is going Green. Demand for the medium-grade Australian ores might be squeezed further as mills in China might opt for the higher grade materials which are more expensive but are more fuel efficient and environmentally friendly, which is why companies like Fortescue are now looking at developing “green metal”, some sort of iron ore ball wrapping around hydrogen so it burns on hydrogen instead of dirty coal while others like BHP and Rio Tino are slowly but surely transitioning into a copper-focused miner. So the future of one of Australia’s biggest and most important sectors is looking quite grim imo.
Housing should have never been a commodity. We now have 2-3 generations that wont have a home ownership rate of 50%^ until relatives pass away. Even then the wealth will be divided between siblings, resulting in asset sales where the assets just get bought up by national and international inveators.
Relative stable government? Are you smoking crack. How many prime ministers and governments have the aussies had in the last 20 years? Howard, Rudd, Gillard, Rudd, Abott, Turnbull, Morrison and Albanese.
I point a crisis is when your leader fails to notify the public he's out of the country while it burns. Then when he gets back says he couldn't do anything about it anyway. That's loser talk, so we turfed him out.
I don't think that's what ultimately cost him though. What cost him was insinuating that West Aussies were cave people. Turned the entire State against him. Won only 5 of the 15 WA seats meaning that the Liberals lost 6 of the seats that they held in 2019. Alienating an entire State with an immensely popular Labor Premier at the time was not a smart idea by Scomo, but then again he wasn't a smart man.
Scomo was bad but he was just an easy target the political issues run extremely deep in this country. What would have been the 2 most effective pieces of legislation in the past 20 years, the mining tax by Rudd and abolishing negative gearing by Shorten. 1 resulted in a coup and 2 was rejected by the electorate. The country is just stuffed
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I am European and from everything I studied and looked at, It looks like the entire Western world and civilisation is basically in a winter we won't get out of. Meanwhile countries like China are rising. Only the USA is basically still powerful, and God knows how long that will last. We are going to go through lots of suffering in the West. Poverty coupled with the fact that our elites use mass immigration to "boost GDP" which also brings cultural degradation and alienation, and crime, rapes, violence. I honestly think only far right Nationalism can save the West right now by putting our economies first, and shutting down immigration to zero, at least on a cultural basis (ie: an Englishman should still be able to go to Australia and vice versa).
This doesn't quite paint the whole picture. The reason our GDP is falling on a per capita base is because in the past 2 years alone our population has increased by 1.6M. Naturally this would decrease GDP per Capita as the GDP nominal, which is still growing at relatively good pace, is divided across a greater sum of people. When it comes to the housing crisis, everything said in this video is true. Housing is very expensive as is rent and it is a problem. However I do not believe it will collapse as there are simply too few cities to squeeze our current and future population into, thus demand will always be high. Yes, our exports are falling but the budgeted price for iron ore specifically - our main commodity export and thus revenue raiser - was $60 a Ton However it is currently at $100 a Ton well over the budgeted price. When it comes to the future, our current government has given out Tax cuts to ALL income earners in Australia. Further, our government plans to diversify our economy through increasing manufacturing via the 'Made in Australia act' which is essentially Australia's version of the Inflation reduction act. This will stimulate the economy and further growth over the future. Looking back at housing specifically, numerous governments are looking at creating poly centric cities with cities having more than one CBD thus increasing density and increasing housing supply. In addition, this would be on top of the 10B Housing Australia fund which aims decrease the financial burden of building the targeted 1.2M homes by 2030. This will be achieved through the government investing the aforementioned 10B in the ASX and using returns to finance the build. Ultimately, it is clear that Australia's economy does face significant challenges however they are not of a magnitude that would justify such a negative outlook as discussed in this video. I believe that Australia will continue being successful, growing, and stable western economy well into the 2030s and beyond.
Governments always put forth plans that will fix the current issues but usually the problems will persist, so perhaps dont be so quick to dismiss concerns simply because 'there's a plan to fix it' Australia's probably better than a lot of the world but there is a real chance of more lost decades in terms of per person outcomes.
@@Pasta_Pirate plans often fail because different governments with different political interests often don't agree with the proposed solution. Thus, me being "quick to dismiss concerns" has nothing to do with blinding optimism but rather an acknowledgement that Labour has put forth a plan that is in action and subsequently would be foolish to cancel under a possible liberal government. Ultimately, the problem is not that the plan will fail but rather will it 'persist' through political fluctuations of government.
FOREIGN STUDENTS DO NOT SUBSIDISE DOMESTIC STUDENTS. Our taxes contribute towards domestic students. Foreign students pay universities and those universities make massive profits! Let's get this straight!
Thank you for a story about Oz. Prices have skyrocketed and housing/rent are now insane! Both political parties have made good and bad decisions. P.S. Yes we have poisonous snakes and spiders, but they are usually in the rural areas. Just Saying !
i thought all aussies knew the difference between poison and venom... you've shattered my image of australians as snake wrangling, croc wrestling, spider taming, koala hugging, kangaroo boxing gods haunted by the evil emus! how could you?! now my life has become meaningless and empty, devoid of all joy and pleasure. 🤣
i disagree about your third point, 10 years of libs put us in this situation which we unfairly blame on labour, there is a mediocre party and s god awful one
The economic policies from both major parties have been absolutely terrible for the last decade. Wayne Swan was the last treasurer who had any idea what he was doing. The Liberal treasurers who came after were completely clueless robber barons, and the current treasurer Jim Chalmers is possible the dullest mind ever to sit on the front bench of a Labor government. I don't always agree with Labor's policies, but I do agree with the old saying in politics that "at least Labor gets things done" - this no longer applies. The current Labor government in Canberra are completely useless hand sitters, and the opposition are frankly terrifying ideologues with no vision for the future. Unless there is a major generational shift on both isles of parliament, we are indeed going to come down with a very severe case of Dutch Disease. If Albanese doesn't sack his utterly incompetent treasurer by the next election, I will be forced to figure out which of the minor parties is the most worthy of my vote.
@@merlin5662 both parties are cut from same cloth as globalist sell outs. Both can be blamed. Try voting a nationalist party and see things improve fast.
@@marcdigiambattista751 vote independents, I don't think other parties like the greens or united party really have the backbone to see a better Australia if they get in. At the very least, I feel like teals have the strongest chance of strong arming both major parties if they cannot form a government. In regards to labour, I slightly disagree. They are a far cry better than any liberal government we have, but the libs have the backing of the media. So any good that labour has done isn't acknowledged. Not only that, they can't make any real change BC they are walking a tight rope where no matter if they do good or bad, they still lose. They have some really good policies but failed to garner support. If that media bill passed, we would be in a better state
We don't make anything here anymore ( even people) and it's catching up with us. Back in mid 70s everything was made here even our underpants power tools, whitegoods and cars.
That's why the government is persuing the Made in Australia Legislation. So we can't make things here again, but this time in the new industries which will pay way more.
The Made in Australia legislation is aiming to target this. We missed the wagon for those industries but hopefully we can capture new emerging industries.
@@SocialDownclimber Not at all, if we make the Robot that makes the underpants, we can make our own underpants and export the Robots as well internationally as a product.
Look at the wages in Australia. Impractical to manufacture the goods you’re talking about. Would cost the consumer ten times plus to purchase the product.
It’s been like this for 4 years, rent and housing prices are very expensive. Food and fuel is very expensive now too, same with construction materials are overpriced. Wages going up doesn’t mean that the cost of things aren’t going up 10 times faster
Don't have the time or the energy to point out everything wrong with this vid but here is a few: It's laughable to suggest Australia has largely avoided Dutch disease. Education in Australia is not an export it's a migration pathway. Australia has not 'cracked down' on student visas. Foreign students do not subsidize locals.
One weakness of the Aussie economy is it depends very heavily on resources and they don´t have that much in the way of secondary industries compared to similar economies. I also think they got really screwed over by that dodgy trade agreement they signed with the States, which destroyed a lot of their domestic manufacturing. Another problem of course, is that they are very dependent on Chinese demand and if Chinese growth slows (which it is doing), it will inevitably affect their economy. The thing is on economics no country is getting it 100% right or wrong.
Australia sounds like Chile but wealthier. "is it depends very heavily on resources and they don´t have that much in the way of secondary industries" "Another problem of course, is that they are very dependent on Chinese demand and if Chinese growth slows (which it is doing), it will inevitably affect their economy." Applies as well
High house prices yes, although this is not confined to the Anglosphere. Australia’s (and to a lesser extent Canada) economic woes are very different from those in the UK and Ireland. The UK for example is world leading in biotechnology, robotics, pharmaceuticals and many other technically advanced industries. Not true of Oz unfortunately.
@jontalbot1 I should clarify, my comment is talking about the housing crisis, specifically in regards to the barriers in regards to restrictions that don't allow supply and affordable housing to be built. The Anglo works unlike other regions has completely abandoned the idea of government housing and has completely treated it like an investment.
@@MrAlen6e That is correct but the subject is the challenges facing the economy. Oz has been in the fortunate position of sitting back and allowing the mining sector to deliver growth. This cannot continue if standards of living are to be maintained. One specific issue has been the refusal to acknowledge climate change and therefore, unlike other developed nations, invest in new technologies and infrastructure. There is a price for climate denial
The biggest current problem in the Australian economy is the housing crisis. The biggest problem with the housing crisis, is the cost of construction of a new home.
It is very nice for Japan to import a lot of Japonica rice from the US and a lot of meat from Australia and to become an important parts supplier to Germany, right?
G'day from Australia. There are a few other factors stopping or slowing economic recovery. 1. The raised interest rates are not working to temper inflation mostly because Australia has millions of small business owners who have large mortgages. Every time they raise rates these small business owners are forced to raise their prices to meet the increased interest payments and this further adds to the inflation problem. 2. Since COVID rents have nearly doubled in Australia due to several factors including landlords using a price fixing app to constantly raise rent to the so called market value which is always increasing as they are all raising the price constantly. Add to this that many rental properties are mortgaged investments and you have the same issue as small businesses so they raise rents to cover increased interest payments. It's become a never ending feedback loop of ever increasing prices. With a large portion of income going to rent there is not much left over for consumer spending for working people. 3. There are millions of baby boomers who are now retired. They are the landlords and most are very well off. They don't work, don't pay taxes and have most of the money and usually earn more through investments than most people earn working a job. Their spending power is far greater than working people and prices are set to these retiree's income level making everything more expensive. 4. Probably one of the biggest factors is the privatisation of essential services. Successive government's from both sides of politics have slowly sold off the countries essential infrastructure for short term budget gains. They said competition would drive down prices which obviously didn't happen when you have companies with duplicate systems just adding to the cost of something whilst trying to generate a profit instead of a service that used to be run by the government at cost for no profit. 5. Last but not least the massive privatisation and Americanisation of Australian industries, services and companies has led to record price gouging and company profits. Every company is milking every cent they can get out of every customer and it's just reducing the amount of discretionary spending money in the economy. We are still pretty well off compared to most countries but they are trying to drag us down to the level of American and it's bottom dollar winner takes all style economy. Hopefully things will improve soon but it is unlikely. The systems are in place to turn Australia into USA 2.0 and it's citizens into cash cows for the rich
Drag down to level of US? Actually, life in the US is generally quite good by international and historical standards. I’m sure life in Australia is pretty amazing, too. I don’t understand why people who are so fortunate (unironically lucky) feel like such victims.
@@greble11I wasn't meaning to disparage the US people. I was more pointing out that the US economic systems seem to be deliberately engineered to keep most workers poor whilst managing to extract all their wages from them. The same type of thing has happened in Australia over the last few years. Wages are way lower than they should be and every company is extracting maximum profit from people. This is US style economics and is slowly bringing our living standards down. It's gotten to the point that people are asking for tips here now and unfortunately hospitality wages are so low now you you feel guilty if you don't give one. Historically tipping has never been a thing in Australia. That's what I meant by dragging us down to the US level
@@greble11 Agreed. We have it so good in Australia, but everybody wants to complain about everything and then do nothing to fix any actual issues. Additionally, the australian media is owned almost entirely by wealthy people aligned with the conservative party, and spends enormous resources attempting to sour the labour movement in this country and its representative Labor party, so that the elite class can continue exploiting the working class. You can see it even in this main comment- "Successive government's from both sides of politics have slowly sold off the countries essential infrastructure for short term budget gains" the Labor party verifiably does not do this, they have recently gone on record taking a strong stance against any sort of privatization, yet most people simply lump them in with the conservatives and say that they're both 'the same'.
@@darrensmith5997 Thank you. I’m also concerned about the growing gap between those with high levels of education/skills and those without. But, I wonder if some of those discontent these days is caused by the compulsion to ‘keep up with Jones’s’. In other words, the more consumers goods that are available, the more some people feel left behind if they can’t afford the latest tech gadgets or luxury. When I look at old photos of my parents’ first house, I’m struck by how spartan it was. No home computers, laptops, WiFi, granite countertops, Netflix, smartphones, color TV, (let alone large screens), etc. And, my parents were not at all poor. Coincidentally, today one of my co-worker mentioned in passing that he is going on a 7 day luxury cruise to Bermuda. I think this is his 4 or 5 cruise on a ship that has luxuries that were unimaginable in the 1960’s and 1970’s. And, he just bought a jet ski. He didn’t go to college, his wife is a hairstylist, and I think he’s going to vote for Trump because he’s unhappy with the performance of the US economy under Biden. My dad was a scientist with a PhD from one of top universities in his field, yet he never lived that kind of lifestyle, nor did he particularly aspire to. Lately, I’ve been wondering how much I would have in savings if I avoided buying things that weren’t available when I was kid. It’s not even possible to buy a car like my first one: a VW Bug with no A/C, no airbags, no backup camera, manual windows, AM radio only, fob key, etc. etc. But, I probably could have retired years ago, if I tried to live a 1960’s/1970’s lifestyle. And, I would probably just as happy or happier. I don’t think the unquenchable desire for more and more things and more luxury is a uniquely American thing or a 21st century thing - not at all - but I think it is a problem with the current economic system. It’s hard to diet when you are surrounded by an abundance of inexpensive food, and it is hard to live a simple lifestyle when you are surrounded by an excess of inexpensive consumer goods. It is a problem, just like inequality, I think. So, I share your concerns about the growing inequality within wealthy countries (and even more so global inequality), but I don’t understand the deep level of discontentment with the current economic situation. PS Tipping is getting out of hand in the US, but I have mostly positive feelings about tipping in general. I’ve had jobs that depended on tips, and when things were busy, it was nice to go home with a pocket full of cash. If we were working harder on a busy shift, why should all the money go to the owners? If the tips were too low, it was always easy to find a better place to work. It’s not a perfect system, either. I understand that many US restaurants have trouble finding people to work in the kitchen, for example, because the servers are making mint. So, immigrants with more limited English skills get stuck with those jobs. Sometimes, the servers are expected to share their tips with other staff members, but, of course, sometimes the hapless dishwasher might work like crazy on a busy night, and the largesse that the owners and the wait staff enjoy doesn’t necessarily trickle down to the to everyone.
Australia's economy has intentionally been pushed into crisis by two parties that benefit from it due to their personal investments. We are already past breaking point. Unless you've already retired, you will not retire until you are 75. And when you do, it will be because you physically can't work anymore. You'll have no savings. Your Superannuation will have evaporated just to pay off Cost of Living increases. You'll have had no kids because you knew you'd never be able to afford them. And your landlord is going to evict you next week, meaning you'll spend your senior years very literally in the gutter. There is no future here. Do not come here. Word of mouth evidently hasn't gotten overseas yet given our immigration numbers. If you come here, you will be destroyed. Because our government is deliberately creating artificial scarcity with housing. The only ones with wealth are boomers and nepo babies. It. Is. Over.
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Wow, that's nice. She makes you that much!! please. Is there a way to reach her services? I work 3 jobs and trying to pay off my debts for a while now, please help me.
Australian here. I'm an immigrant who came to Australia 6 years ago, I bought a town house in Sydney. I'm not lucky, I just worked my ass off, but most importantly worked for the right thing. Yet I feel I wont be able to pay my mortgage next month
Yeah, who would’ve thought that relying on mass migration and commodities for economic growth that’s unsustainable is bad. The politicians in Australia and Canada have gone far too long not doing their job of coming up with real economic plans that’ll deliver sustainable growth for the country.
@@enticingmay435 Both countries do need more immigration still. Very low population densities make infrastructure more expensive and minimize the domestic markets for transforming away from resource extraction.
As someone who lives in Western Australia, a place that is one of the centers of the mining boom, one of the issues we face comes from the mining boom itself. The miners were, and still are, being paid hand over fist led to prices of most goods and services being set higher, while this spread out to the whole economy wages didn't rise with costs and prices as inflation drove them up. This has led most of us to be doing it real tough as the cost of living is eye-wateringly high.
I think housing is a huge economic issue in Australia. Who has the money to go out and spend or invest in a business when you have to pay off a massive mortgage? People think they're getting richer when house prices are going up but wealth is relative. Unless you're planning on emigrating, your relative wealth isn't really increasing.
When you allowed large conglomerates to consolidate iconic Aussie brands, and ultimately export their offices overseas, and then shut down your local car manufacturers ... your industrial base ... what do you expect???
Australia was ruined by John Howard. Most of the problems we have today have their roots in the Howard era. Morrison didn't ruin anything, he was an ineffective PM like Turnbull and Abbott before him, they all kept the country in neutral.
Not sure why YT keeps deleting my comment, but Australia was ruined by John Howard. All of the problems we have today have their genesis in the Howard era.
@@sammccarthy9388 Nothing. Albo is just another in the line of wet fish PMs whose only goal is to win a second term, so he takes no risks and pushes no actual reforms.
Who put that line about how “the invincible economy became ‘vincible’” into the script and made you read it? I like that you couldn’t even keep a straight face while saying that.
@@nikobellic570haha yeah, reminds me of 2020 when the same emotional responses happened here for 700 deaths, versus 70,000 elsewhere You can be shocked but not shocked-100
Small error: There's some conflation of Dutch Disease with the Resource Curse. Dutch Disease refers to the currency demand issue (noted at 1:48) and generally affects developed economies, where the Resource Curse is the corruption/inequality issue (as you noted at 1:58) and is mostly confined to developing economies.
The "lucky country" tag is actually a slap in the face to Australia if you want to know the truth. The phrase was written as a comment on the luck of people too ignorant to appreciate their good fortune
There ISN'T a housing bubble in Australia and the government doesn't have a task of deflating it. Prices are high because of the extreme mismatch in supply and demand. Australia needs tax reform at the federal and state level and planning/zoning reforms at the local government level. The tax reforms will reduce the demand and planning/zoning reforms will increase the supply.
There definitely is a housing bubble though, as much of the demand is from investors looking to make money. If the market starts looking like they cannot return their investments, the market will absolutely tank. That is why governments have to be so careful with housing policy, and won't make impactful moves to fix it.
@@SocialDownclimber No there isn't. Demand from investors doesn't make it a bubble. If the investors can find renters, which they can easily as the vacancy rates are less than 1%, then they can service their mortgage. This isn't like China where investment properties are empty.
/rantON We don't have a housing crisis. We have a crisis of councils not letting people build what the market needs. Instead of building up, many city councils will instead seek to preserve the status of suburbs by strictly controlling new buildings. They also frequently won't let people put in small buildings with plumbing to sublet them. For example, my uncle's neighbor lives on five acres in a rural area and he's not allowed to build a separate building with plumbing for his mother to live on. I know someone else that has an outer suburb house on a quarter of an acre, he isn't allowed to put a small apartment on the back of it. /rantOFF
China’s also just opened a huge top-quality iron ore mine in West Africa specifically to reduce its reliance on Australian ore. As it ramps up it will cut into Australian exports and revenues. Assuming it is consistent and reliable of course.
Remember everyone, to the rest of the world Australia's economy looks pretty good, but to Australians almost everyone things it's doing horribly because of just how overwhelmingly influential our media monopolies here are, which are eternally married to the LNP-rightwing party
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
Interesting, Mind if I ask you recommend this particular professional you use their service? honestly right now i have quite a lot of marketing problems.
“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Australian here, small correction. It should be noted that the term "the lucky country" didn't originally refer to our vast resource wealth. The term comes from a book by Australian political commentator Donald Horne, who released a book of the same name in the sixties. The book was a commentary on how he thought Australia was the "lucky country" due to the fact that Australia gained its economic prosperity by chance, rather than by good government.
Or in spite of the government.
Yet another TLDR slip up, it stops me fully trusting their content as they don’t reference things properly - yet still say it with such confidence
@@nomoreheroes93 That's why we got comments like OP's to add a little more perspective or adjustments to the video's content. TH-cam would be garbage without these inputs imo.
@@nomoreheroes93 minor slip-up. They usually cover the general topic well. People often BS nitpick in reality. Live in Australia here and know the underlying issues very well from a detailed perspective. Another Brit, called 'Econ', covers it even better, and in reality, covers it better than a lot of Australians understand it.
Okay..as an Indian, I thought Australia is considered "lucky" because of most World Cup wins in Cricket😅😂
I'm eagerly looking forward to a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also considering investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen significant trading profits, but there are concerns about the market's instability and the chance of a dead cat bounce. Could you explain why this market phenomenon occurs?
Investing in both real estate and stocks could indeed be a wise choice, particularly when accompanied by a carefully crafted trading plan to maneuver through profitable prospects.
In challenging market conditions, it's not about mistakes; it's more about lacking the expertise to thrive. During such times, seasoned individuals who weathered the 2008 financial crisis are best positioned to foresee substantial gains.
Contemplating the idea of consulting advisors for guidance has been occupying my thoughts lately. I'm at a point where seeking counsel could be beneficial, but I'm uncertain about the tangible advantages their services could provide.
‘Grace Adams Cook’ , my CFA, boasts a stellar reputation in her field. I suggest delving deeper into her qualifications. With her extensive experience, she serves as an invaluable asset for those seeking financial market advice.
Thank you for sharing, I must say, She appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
The idea that mining companies don’t control Australian politics is frankly laughable
consecutive governments frothing at the opportunity to gut renewable research again in favour of new gas plants
Not really as much as you believe it is. Our politics is quite alright from that point because largely both sides know they need good revenue coming through (Labor to budget their expansionary policy and liberals to control spending from the expansionary policies expanding quicker).
They don't. But their royalties are incredibly important for paying back maturing bonds.
@@Whoisthis1111 “Expansionary policies” Remember how the liberal party spent 4 years in opposition scaremongering about growing deficits under labor only to triple it a few years into gaining power? The idea that labor governments spend more than liberal ones is just simply not true
@@antoncarmoducchi6057they don't even do that or pay taxes like rheinmetall for example
Wouldn't it be faster to list the economies *without* a crisis at this point?
Yes
Boom and busts, its constantly reoccurring
🔸China & Russia collapsed ( they are never coming back)
🔸All Western countries are fine/normal (except UK)
🔸Developing countries are struggling
No, it’s so cringe how many people think the world is always so bad on the internet by all metrics most countries are doing fine
@@dsdgdsfegfeg lol spot the yank
Another Aussie here. The galling thing is that Australia has an abundance of raw resources that everyone needs, like lithium, uranium and other rare earths but simply exports the raw minerals as is. If we invested more on processing and value add processes like manufacturing batteries, uranium enrichment, and other clean energy products, our GDP would skyrocket.
The government is doing that with its (yet to pass) Made in Australia legislation. It's seeking to build the manufacturing back up in the areas we will need like mineral refinement and battery making.
@@PandaKnight52that's good to hear. Sick of having to buy even really basic stuff that was reimported back from overseas.
you can thank the LNP and the USA for that.
uncle sam wont allow enrichment
Yeah the problem with that is location of the resources and population centres, it's a LOT cheaper to export then to refine domestically even when we basically gain nothing in taxes. There's simply no commercial benifits for a private company to do that here vs elsewhere considering there's established chains and hubs which lead to greater markets.
Australia, Canada, China, Japan, South Korea, Germany, Italy, Spain, UK and France, they all have one common for their current economic crisis: housing. This is the crisis Australia is facing, and they are not alone.
@@PwerRanger01Those Too many Are Human Sirrr , Get out Hatred for other humans , Life is a Gift of god and are all their children ,,,,,,,,Not trying to degrade you but have some empathy when You talk about other humans…….❤❤❤
Japan doesn't have a housing crisis. They solved it years ago.
@@PwerRanger01Or maybe it's the 100 million dollars property investors donate to the two major parties so that they can profit off of it.
@@OP4Kthey have a population decline crisis and a lot of towns are becoming empty and derelict because of it. North Japan is becoming very deprived because of the population decline and it is a new crisis not many people know about it
Not really European countries biggest problem is they are dependent on energy imports from Russia and other regions they are now forced to buy expensive lng gas that makes industries less competitive than China that has cheap Russian gas
Correction, Australians with homes are some of the wealthiest in the world. The rest of us will rent forever as it is now almost impossible to enter the housing market.
@@1490aap If you fail to plan you plan to fail.
This is an experience for renters in most of the western world.
your in the housing market if your renting, a good long term renter has as much chance of buying there own home as someone who has savings and a steady job; but having a little savings helps as well!
@@RobertChaplin-m7b my bad I should've brought a house when I was 4. How silly of me
@@myleswhite2100 If you have not made decent, and I mean decent, amounts of money over the past 20 years or so I do understand, this answer comes from your reply. The making of money has always been available it just requires education, effort and some applied intelligence. This letter is not meant to be hurtful it is just trying to advise you to get a different mindset. I made it, and I am nothing special, you can make it if you really want to.
Missed an important factor... we don't charge royalties on around half the gas we export. We give it away to mostly foreign owned multinationals! And like most multinationals, they don't pay (much) tax either. 😞 Can anyone say 'state capture'?
I was trying to explain this in another channel but can't make this simple statement without someone trying to blow up an argument. It's amazing how many huge companies are paying no tax and it's all information available wit a simple goggle search. No matter how bad the shafting some bonehead wants to defend it and be proud of themselves.
@ozzybloke4830
There was a report recently showing that we actually give 90% of it away for free now. Apparently we need to "listen to the needs of the industry." Which translates to let the industry make billions for free and at average Australians expense.
He mentioned it in the start about Norway.
TLDR could literally put out this exact video and replace Australia with Canada and it would be just as accurate.
Canada needs to join the US and become the 51st State of America.
@@BDee3126 He’ll to the naw. We’re good.
@@BDee3126 Also, the US already has a 51st state. It’s called Israel.
@@daudimasinde6280puerto rico in all but name
@@daudimasinde6280isnt it the other way around? America is Israel asset at this point
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?
'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
The saying " The Lucky country " doesn't mean what you think it means.
" Australia is a lucky country run mainly by second rate people who share its luck. It lives on other people's ideas, and, although its ordinary people are adaptable, most of its leaders (in all fields) so lack curiosity about the events that surround them that they are often taken by surprise " - Donald Horne. It's very accurate lmfao
We rely so much on dirt and immigration to keep the numbers afloat, and i'll add selling over-inflated house prices to that list too because Horne would've done so too
There have been so many third-world countries with skilled and motivated leaders, that are still trying to claw their way up towards development and wealth
Meanwhile we've had prime ministers soil their pants in Macca's and we are still one of the best economies in the world
@@socialistrepublicofvietnam1500 On the one hand Aus is a big beneficiary of its western ties, on the other hand it's such a puppet state that just the hint of a mining tax got Obama panicking and replacing Rudd (We have the Wikileaks audio).
You basically described Canada too
@@MrAlen6eIn your opinion, Canadian here and I don't share your opinion.
@@moj1338 of course, canada's way worse.
The housing bubble is disgusting. Given that MP's directly benefit from higher property prices, its unlikely to ever change.
"The Lucky Country" originated in Donald Horne's 1964 observation that 'Australia is a lucky country, run mainly by second-rate people who share its luck.' In other words, Australia was 'lucky' despite the mediocrity of its political and business classes.
and it still applies today. International scamming rings have been quoted of judging Australians as 'rich but dumb' vs other nationalities.
well we all learn something everyday!
But he was wrong. Economy was set up well be Labor and Liberals rode their coattails.
Hard to attribute luck to Keating's floating the dollar before the 90s recession, and Swan's implementing the bold Keynesian stimulus during the financial crisis. Not to mention the relationships built between Australia and the major Asian countries. All these are examples of extremely informed foresight. Unfortunately we've also had the opposite with other governments such as JH's terrible understanding of long-term prosperity by allowing all of the 90s mining boom go into the pockets of private companies (on and offshore) and his insane changes to the capital gains taxes (not understanding that interest rates change). The lost goes on. But the main point is, Australians are lucky, but their resistance to major global financial stressors have not been all luck.
It's a true however we have very few outstanding politicians but a considerable number of genuine business entrepreneurs. Not flashie but solid and certainly not media driven 😅
Man, I’ve been stacking up $21k in my emergency fund, ready to dive into investing, but with the way Australia's economy is tanking, I’m just sitting here wondering if I should wait it out. Anyone else thinking of just stuffing cash under the mattress at this point?
Hey, I get where you’re coming from, but if you wait for the “perfect” time, you might never start. Sometimes, it’s better to get your feet wet, even if it’s just a little at a time. An investment advisor could help you get a head start, even in a rocky market.
I’ve been thinking the same thing. I want to get into investing, but I’m a bit lost on where to start or who to trust. Do you know where I could find a solid investment advisor?
There are a handful of CFAs. I've tried a few over the years, but 'Linda Aretha Reeves' has been my go-to. Her performance has been consistently impressive, and she’s well-known in the field. Might be worth looking her up!
I caught Linda Aretha Reeves at the Bloomberg Finance Summit about four years ago, and her presentation was terrific! Definitely someone who knows her stuff.
Just looked up Linda Aretha Reeves, and she seems exactly like what I’ve been searching for to kickstart my financial journey. Thanks for the tip!
It's far worse than that. There has been a huge wealth transfer that has doubled in the last 20 years from the average person. "The result is that the wealth of the richest 200 Australians has risen from the equivalent of 8.4% of the nation’s GDP in 2004 to 23.7% of GDP in 2024."
Tax them
@@lores996 The middleclass (which is stupid regardless of country) does not understand it itself is taxed by inflation. Yeah the richest few should be taxed, I agree, in Australia, in my country, in all countries. But I beleive there is one tax possible only - deflation. And the middle class does not request it so, dream on! There will be no taxes on the richest few / Sweden
we need to change to socialism
Australian here. Our economy feels pretty fucking shit if your on the bottom of the pile. Can't afford to buy a house and getting fucked by inflation on food prices....I feel so "lucky".
About the same here in the US
This is literally the case in any country. Wtf is your point.
@@patrickbateman1660no it's not.. what is your point? Lmao
@@vtgaming9204 in almost every OECD country housing is a major issue along with a huge wealth divide. This is very common knowledge. I recommend reading the news or even just Wikipedia articles to help :)
And the Oz government constantly lying out of its arse about everything. Just look at the stats coming out of the ABS about inflation.
There is basically no economy here.
Banks, real estate and mining. That’s all. It is highly concentrated.
Mass migration through international students. That’s another mean of cheap but unsustainable method of economic growth that the government loves to engage in.
@@enticingmay435 💯 %
@@enticingmay435 That accounts for a very tiny part of the economy. It's also has not been growing in the past decade.
@@Neojhun Total BS, it's out of control.
@@enticingmay435 They just cut it drastically due to public pressure.
Not sure its a good thing to have our universities decline, especially when more kids are abandoning universities and advance studies.
You barely touched on negative gearing, which is perhaps the worst system in existence. Essentially, you can borrow money to buy an investment property, and write the interest losses off of your normal income. This essentially blows up house prices, while making the rich richer
That’s the major issue which no one want to address as many politicians have multiple investment properties
The Greens are the only party taking it seriously. If voters take them seriously, then the next election will produce an interesting result and may finally see some sanity put in and ideology taken out of the investment property policy.
@@engrumarkhan Labor went to the polls in 2019 with a plan to address it, basically returning it to what it was originally meant to be for (to encourage new housing developement), but Libs and Media called it a Tax on Housing and they lost the election - lumping us with Morrison...
@@mitchbet Wrong. Interest is a cost, simple as that.
Negative gearing itself isn't a problem as it is implemented in other countries. There you can negatively gear one investment and deduct its losses from your other investment income. The problem is that Australia allows negative gearing to be applied to wages income. That's where it gets used as a tax minimization system.
It's not about "making the rich richer" directly, but it does indeed drive up property prices to do that indirectly by increasing the amount of the population who are happy to invest in housing at a loss for tax minimization purposes. That is what causes all the issues associated wtih shortages of housing supply and inflated property prices.
Saved up $88k in an emergency fund, thinking I'm all set to dive into investments, but now this video has me second-guessing everything! Australia’s economy tanking wasn't exactly in my 'How to Start Investing' guidebook. Guess I should be looking at safer options? Any tips from seasoned pros here?
Yeah, I get the panic-had the same jitters when I first started. But here’s the deal: this might be a good time to diversify, even in a shaky economy. Don’t forget, a good financial advisor can give you the clarity you need. Mine did wonders for me, so maybe look into that before making any big moves.
I’m in a similar boat, trying to figure out my next steps. I know I need a financial advisor but have no clue where to find a reliable one. Any suggestions on how to go about this? I don’t want to mess up my first big investment
"There are a handful of CFAs out there. I've experimented with a few over the past years, but I’ve stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field, look her up."
Looked up Linda Aretha Reeves and she seems like exactly what I need to get my investment journey on track. Thanks for the tip!
Watched Linda Aretha at the Bloomberg Finance Summit a few years back, and her presentation was terrific! Definitely worth considering her for financial advice.
A bit of additional context for non-Aussies. Most mortgages are on variable rates or are fixed for short periods only, 15 or 30 year fixed rate mortgages don't exist. Hence, those higher interest rates apply more broadly. The median house price in Australian cities is close to A$1M and 'starter' homes are A$500-600K.
My mortgage is now $900 per month more than it was three years ago.
Thank you for adding that detail. Interest rates, most likely, come down in the future which will help you. Like a lot of Americans, we refinanced our mortgage a few years ago when rates fell to 3%. So, now we have 30-year fixed rate mortgage at 3%, which means we aren’t moving until interest rates fall again to about 3%, which is unlikely, which means our house will not be on the market until we die. Since a lot of other Americans have very low, fixed mortgages, the supply of available houses will remain tight until a lot more new houses are built, I suppose.
Long term rates like 40 year mortgages do exist, (you have to ask the right loans agent), but they are at such insane interest rates over the life of a mortgage that it isn't generally viable. They also require houses with at least 20% paid off, and incredibly stable employment (such as government staff) so new home owners don't apply.
Only $900 a month? Mine is $3000 a month more… have also had to invest about $300k making a $million home comfortable, but that is nothing compared to what you pay in London on generally lower wages.
I feel like we're like a spoiled child. We have so much going for us that we aren't forced to make good decisions
Exactly the same as Canada.
Seems like if you just build more houses, stop promoting housing as an investment, and stop reducing student visa's, then the the economy would work it self out with some time.
@@coolbanana165Student visas matter jack all, and it's a determinant for the housing market.
@@coolbanana165 "Build more houses" is wrong, our cities are sprawling enough to begin with. What we need is more apartments. However, easier said than done, building is Aus is a nightmare rn
@@finnrobertson2592 I meant housing in general.
In the UK Labour are making it easier to build.
Another Australian here. with all the interest rate rises, our mortgage repayments have gone up $1000 per month since the lows of covid. As interest rates go up, investors increase rent prices making just having a roof over your head incredibly expensive. The other drivers of inflation have also been our of the average person's control: petrol prices, groceries, energy prices, so people are paying a lot more just to drive to work (don't ask about public transport. It effectively doesn't exist), put food on the table and keep the house warm and the lights on. All this means there isn't much left for luxuries like takeaway on friday night, going to the movies or eating out. Meanwhile, self-funded retirees and rich people with investments have these increased expenses subsidised by the higher interest rates increasing returns of their investments. The wealth inequality gap is widening, but the liberal party pretend it's not happening, and labor seem powerless to stop it. It all seems pretty bleak right now.
Labor has to fight the senate for everything to past, Greens, liberals and nationals are being obstructionist as fuck. we need to vote all the liberal nationals out and have every voter agree to get rid of Capital gains discount and franking credits.
This Labor Party is acting like how the Liberals did 10 years ago. Incredibly spineless. We need more Independents in government to get rid of this duopoly.
Sounds like a very similar situation to Canada
And New Zealand
We've abandoned the family. So instead of houses costing what 1.5 incomes can afford (assuming the wife counts as 0.5) they now cost what two incomes with no kids can afford. And furthermore with our immigration, they cost what a bunch of people who only want a room each can afford. Investors don't make as much money as you might think. You buy a house for $500k sell it for $1M a few years later Gov takes 25% of $500k profit. Now you can't buy the same house back because you're short $125k. You might have made money, but you made no wealth. We've got a housing ponzi scheme that the government is addicted to....
Honestly, saying you are guaranteed to earn more than a 4 year degree is pretty misleading. I have no doubt that it can work out, thats why people like him exist, but there are so many people who couldn't do ut his way, I just started an econometrics study and if you are somewhat good with it you can expect to earn around 200-300k as an employee, I know this because I've spoken with people who have done exactly that. So the best career path really depends on what someone is good at. The things Alex preaches might be true, but certaintly aren't meant for everyone.
You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment.
Wow. I'm a bit perplexed seeing Pamela Alexander name been mentioned here also. Didn't know she has been good to so many people.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm new to this and have heard that now is an excellent time to buy. However, I currently have cash sitting in my bank account that I would really like to put to good use because inflation is at an all-time high. Who is this coach that you mention, and how do i reach her
she's mostly on Telegrams, using the user name
Another Aussie here. To put the housing situation in perspective, my wife and I managed to buy a duplex last March for the atrocious price of 820k in a suburb 65 km from Sydney CBD. Now it has been 6 months and our little property is valued 30 k more than what we spent 6 months ago, without taking in account all the renovations we carried out. How is that even possible, how did it get so twisted ?! Nothing can possibly go up in value so quickly
The stock market is a complex system that is influenced by a variety of factors, including economic indicators, political events, and global trends. The relationship between policies and the stock market can be complex and multifaceted, and it can take time for the full effects of policies to be reflected in market trends. Therefore, it is possible that policies implemented in the past may have a "lagged effect" on the stock market, as their full impact may not be felt until later on
I've purchased numerous stocks in individual firms. Because there are so many stocks that will skyrocket in the long run, it is currently safe to buy in on ETF and ride it out. Due to fud, I sold out early, but then retraced my ways and re-invested $350,000 with a financial advisor who manages my account. I received an 82% return last year and will see where it goes this year.
that's quite impressive, you surely made a good bit of money. I myself invested in warren's BRK-A stock quite pricey but totally worth it.
I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with ?
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
..
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
As an Australian, this is a really good overview of the issues! Would love to see more videos on Australia going forward, especially approaching the election next year. It's such a shame the current government is so incapable of fixing these issues when the opposition is so scarily worse 😔
They frequently do Australia
Another Brit, called 'Econ' on TH-cam, covers it even better, and in reality, covers it better than a lot of Australians understand it. See the Aussies in the comment section of the video essentially being in denial LOL. Live in Aus here.
Current government has achieved lots it just no one's perfection. On-top of that they don't have the numbers in the senate so you have obstructionist Greens, Liberals, Nationals as well as independents that are trying to play the centre. You can't get massive change done with that.
Give them the house and senate and you can see a lot done.
Partially only have ourselves to blame when we hate any idea that may fix these issues and love policies that will exacerbate them
You can't expect magic solutions from government for problems that have been building for decades. Australians have been obsessed with housing and ignored the warnings. But everyone thought you could get rich from inflating assets. Bernie Madoff and Australia have much in common. Enjoy your laying in your well made beds.
It sounds like Australia is experiencing the same issues we are in Canada. We're facing the same problems.
It's the Government, "facing problems" we are being screwed!!!!!!!!! Europe, U.S Canada and now the even in the U.K!!!!!!
Yes, because Australia and Canada = everyone/“we’re all”
Sister countries 🎉
It's a global problem. The world's capitalist economic system is slowly collapsing. Marx's detailed analytical critique on capitalism showed how flawed capitalism is. Marx predicted that the world's capitalist system would eventually collapse.
@@chris.bcfc.keeprighton.5685Funny, because it's deranged commies that are in command of this global collapse.
Note: The Australian Labor Party has zero intention of reforming the tax system favors real estate speculation, largely because making any changes to the tax system has become politically toxic. The Liberal Party might, it wouldn't be political suicide for them, but they also definitely won't because they're the party of the rich.
Also, Australia's high median wealth is largely due to mandatory retirement plans (and lavish ones at that).
Yup, the Labor party campaigned on real estate tax reform two elections ago and lost when they definitely should have won. Now neither major party will address the issue adequately and the voters only have themselves to blame.
Both major parties have their front benches stacked with people who own 50+ investment properties each. If you think any of them are going to reform the tax system I have a bridge to sell you.
The Liberal party will absolutely not do this. They have also manufactured the situation in the first place. They have been the majority ruling party for the last 20 years at the federal level. They are far more to blame than Labor. Labor are by no means doing a great job but they've been given absolute shit tip to fix. It is also worth noting the Liberal party are climate change deniers and basically owned by the Minerals Council.
@@marcdigiambattista751 You can find all of this data as they have to declare assets. I would note that Labor have significantly less property ownership among their members.
@@marcdigiambattista751 I don't believe we have a chance, I also like to believe we'd have a chance if it wasn't political suicide to fix this. My brain works weird it seems, but I really don't want to believe both sides of politics would willfully let Australia's economy continue to buckle to enrich themselves.
You hit the nail on the head with the Dutch Disease. For anyone thinking that we don't, just have a look at an advertisement that our Richest person (owner of a mining company) just released.
Or all the revoltingly slavish press praising her constantly 🤮
might wanna add Federal government to invest $840m in a rare earths project in Central Australia a day after the federal government announced another $230 million loan commitment from taxpayers to another company partly owned by the same person. 2:30 it's starting to look as how it was not how it is today
“The Lucky Country” was originally from the title of a 1964 book by Australian author Donald Horne. The phrase has become synonymous with the country’s prosperity, natural resources, and relative freedom from conflict. However, Horne used it somewhat ironically, critiquing Australia for relying too heavily on its natural wealth rather than fostering innovation and development.
Just realised hundreds have said the same already ..us Aussies like our story to be correctly related 😂
Australian here. I would like to point out that during the 2008 financial crisis we had Kevin Rudd as prime minister and Wayne Swan as treasurer and they delivered economic policy during that time that weathered the crisis and is now actually the standard response to such a crisis around the world now because of how successful it was
Correction what they did wasn't their idea but was what was recommended to them by the Secretary to the Treasury, Ken Henry and the Treasury department.
What they did was follow the recommendations to their credit. Because if the opposition had been in power, they probably wouldn't have followed the recommendations.
The advice was to do an immediate large stimulus amongst other things putting cash in people's pockets to stimulate the economy immediately rather than waiting until it had all gone pear-shaped.
So credit to Ken Henry and the treasury department. Because the advice that the equivalent were giving in pretty well, every other country was basically to sit on their hands. And only react after the event. Only reacts after things had gone bad.
By going early and going hard to quote the words used by Ken Henry Australia avoided a recession. Elsewhere they went late and the package wasn't particularly well designed so didn't have the quick impact that the stimulus package Australia used had.
Maybe, but as someone who didn't eat properly as a child and lived off of charity for a few years, the 2008 financial crisis was still awful.
@@Element8e4 Rudd was a good PM. Albo has destroyed our country by tripping immigration with zero housing stimulus to boost supply. Incompetence on a new scale
@@Asharra12 Australia didn't escape unscathed. That is certainly true. But it could have been much much worse. So we should be thankful that the government followed the advice and that the advice was given in the first place. Because this didn't happen in most Western countries where the GFC was devastating.
It's very sad that in Australia and in so many other countries the people at the bottom have been largely forgotten. In good times and and bad.
The only reason we escaped the 2008 gfc was because we tethered our economy to China’s building industry. When China’s construction bubble inevitably bursts our economy will tank and tank hard.
The housing crisis would have to be a huge economic anchor on the Australian economy. This stems from there not being enough trades workers and the cost of materials due to inflation. It is also worth noting that the previous government actually underfunded the training colleges responsible, so that a shortage was inevitable.
Constant rent increases and price rises in everything, I do not have extra money to spend on anything anymore, and if i find that I have anything left over I am saving it for a rainy day.
Stopped drinking, stopped eating out, coffee only at home. Many of my friends are in a similar boat, I do not know how small businesess are surviving.
the pollys say "housing crises" then spend big on other stuff and do nothing to help us. the big 2 partys are not going to fix this mate.. .
Is it fair to say then that Australia allowed housing to be seen as an investment, thus people with crap loads of money already bought the limited supply and now those very people are blaming immigrants for the lack of housing? And not that housing shouldn't even be an "investment" in the first place? That's wild
Wife and I are from Taiwan. We had a swell time visiting Australia, and saw some remarkable animals. Hope to see the amazing variety of beautiful animals in Australia continue to flourish. 😊
naaa mate a dingo took my home
Non Australien here, but as someone who came as a specialist during covid. I have been here for a bit more than 3 years and I can only say that from my perspective the biggest issue I see is: Australia was never challenged. The Infrastructure is crap, be it mobile, public transport, water or the roads. Everything is somewhere on a level between Indonesia and Vietnam - but nothing is comparable to modern country, adding up to this a huge lack of knowledge in modern technologies and a lot of old people in strong positions, established through a system where the education itself is not determining whether someone has a skill - to be frank Bachelor graduates in Australia are like apprentice in Switzerland and that's ridiculous - but through chartered activities, is causing modern technologies to be slowed down. I am not surprised. I would also not give up my 500k Job when not knowing a piece of software and stick to my old relay systems. Young people will never see this buying power due to the older generation having concentrated the wealth so heavily and protective. This adds up to a heavily taxed income where the net income in the end is not even on par with a graduate salary in Switzerland for an experienced person (Yes I talk about 200K AUD Salaries!). And that's no surprise that no one comes with skills, instead we got the next bunch of people from Pakistan, India, Brasil And Argentinia (sorry thats not personal!) and most of them end up in a random job between 60-120k or attending fake educational institutions - exactly not boosting the economy. The AUD is basically also reflecting this with its collapse over the last years. And then you can take the video content and put it on top of it. Do not get me wrong - I love Australia - Hell yeah, I love the sun, surf and beach - but man you guys are giving away a life quality that is hard to imagine. So this is a different perspective I might bring in here.
You're not wrong - but you don't seem to appreciate just how far apart Switzerland and Australia really are.
Australia's economic, social, and technological development is THOUSANDS of years behind Europe.
The first wheel arrived in Australia roughly 250 years ago. So did written language, agriculture, the bronze age, and the iron age.
The population was about 300,000 - the population of Europe was about 200 million.
The population today is about 27 million - the population of Europe is about 750 million.
The local economics are a direct result of government profligacy. Our culture has balkanized into special interest groups who all vote for more "free" money. It seems to be a common disease in every multicultural nation.
Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $5k to $10k into trading from just few months ago and now they’re multimillionaires..
Investing can be complex, so it’s smart to get professional guidance when building your financial portfolio.
If you’re new to investing or don’t have much time, it’s best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I’ve learned this from my own experience.
Yes getting professional help is a smart move when it comes to building a strong financial portfolio that matches your long-term goals.
It’s always wise to seek guidance from experts.
Waking up every 10th of each month to $64,000 it’s a blessing to I and my family… Big gratitude to Jaspreet Singh🙌
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can’t decide what is best. Can you explain further how you invest and earn?
As an Australian currently living in Germany, I can definitively say that my home country is still doing better than most of Europe
Can you please elaborate further
In what metrics does Australia do better than most of Europe?
Umm yes please. I’m Aussie planning to move to Germany. I’d like to know also…
I’m also an Australian living in Germany, not sure what you’re referring to, but big cities in Germany also have a housing crisis.
At least Germany isn’t the biggest nanny state in the world
When was the last time you lived in Australia? That could definitely be warping your perception/opinion.
As I heard about a decade ago, "the name for a country that only has resources and tourism is a 3rd world country".
It's also pretty horrific to see TLDR put our housing catastrophe in such stark relief.
More honest governement ads I guest
**slaps calculator** FUCK ALL, cool and normal 👍
I love them but every time I watch one it makes me feel so much dread
'honest government' ads are really boring to me and is really lacking in humour.
@@sdpearshaped831 that your personal opinion but the people who comments here are clearly not agreeing
Our waning economy is not as newsworthy as headlines such as “IF YOURE NAMED THIS, YOU ARE OFFICIALLY OLD”
Australia is awesome, everything will be fine.
Fantastic video! I have incurred so much losses trading on my own.... I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Same here, my portfolio has been going down the drain while I try trading,I just don't know what I do wrong..
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
I think l'm blessed if not I wouldn't have met someone who is as spectacular as expert mrs Fenella..
Highly recommended 🙌
Wow, I'm surprised to see Fenella mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Fenella
trade benefits
Australia's economic problems are self inflicted.
1/ In 1946 the NSW branch of the Australian Labor Party, in government in NSW and Federally, agreed the Commonwealth could permanently have income tax, but not take on responsibility for infrastructure apart from Defence, Post and Telecoms. The Commonwealth collects 80% of Australia's tax, but gives very little to the states for infrastructure. As a result, Australians retreat to capital cities driving up real estate prices. Migration is on top of insufficient infrastructure to support life in the regions.
2/ The second issue is Australians want live near a beach on the east coast between Adelaide and Cairns, and between Perth and Margaret River. To support regional cities along those coastal strips, we need a four-lane divided road and 200 kmh double track railway around the coast.
3/ third issue is street type in local centres. We favour very low density and high rise, both of which produce sterile centres.
We need six-storey buildings that form walls along the streets of our local centres, like in Europe, to bring our streets to life with social and econonic activity
Recession! Crash! Inflation! It’s getting depressing. I have about $100k in emergency fund and I have been seeing good news about the stock market and would like to gain from that since I can’t let my savings be corroded by inflation. What stocks should I into as a newbie to safely grow my money.
buying the dip has proven to be profitable although for majority, the solution to their problem can be found only in specialized knowledge hence they seek guidance from well experienced advisors
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Jessica Lee Horst is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
Jeez .. as an Australian I didn’t know how unhappy I should be after listening to this. Maybe someone in government should tell all those huge lines of immigrants lining up to come here not to bother.
"to come here not to bother" Welp they did not during the pandemic years. Past couple years only changed due to compensate for those stopped years.
@@Neojhun No, immigration is a problem and must be stopped.
The only immigrants coming in nowadays are from countries like ukrain where we have a responsibility to let them in due to the circumstances there !
We cannot tell them to resist russia and refuse to help them !!!
As for the others, they require high skillsets that are lacking domestically like doctors nurses etc !
@@supa3ekwell that’s not true, but thanks. Some simple research on the origins of migrants and the work they do on arrival would go along way.
@@supa3ek We don't have a responsibility to Ukrainians and we don't need Uber Jeets drivers.
“The illusion of freedom will continue as long as it's profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.”
It was called the lucky country because despite the way it was run it seemed to do well.
When a country's economy is doing badly it is usually a combination of three factors: 1/ government policies that reflect party beliefs rather than economic realities; 2/ corporate and government inertia on accepting changed conditions; 3/ a concentration on exploitative rather than cooperative policies.
biggest challenge in re-structuring laws around tax and property making it a very lucrative investment strategy is that pretty much every politician who has the power to do such a thing has a very, very, very impressive property investment portfolio.
That was taken to an election in 2019 and the party lost cause the mainstream media set it up as more tax as well as lying about a death tax.
One thing many commenters miss is that we are fairly unique in that you are obliged to vote. The fine for not voting is only a few dollars but it does encourage political engagement. In election time, every public school is a polling booth. Voting is always on a Saturday and it typically takes me less than fifteen minutes to vote. Pre polling day postal voting is also encouraged which further drives up participation.
Mind you, some people insist on voting in the middle of the day and it can take a while then.
sorry but when I see or here people talking about politics It doesn't come across as political engagement but rather a begrudging chore. its all so surface level and most people are only concerned about themselves, the media is horridly self interested and there is to much lobbying.
@@Archmagos_Faber sure it is begrudging for most people, but people that aren’t particularly interested are going to more or less vote for central issues, which I believe is keeping our mainstream parties more moderate in general, which I believe increases our political stability.
@@llcrulez3942 this opinion is backed by research
This all stems from ridiculous housing prices due to financial speculation of the housing market
No that is not what Lucky Country means.
The moniker reflects Australia's mismanaged and poorly run economy that only survives through the luck of geology in having a literal gold mine to support its woeful mismanagement. (Supplemented by wool and wheat).
You almost got it right when you mentioned Dutch disease, which is a synonym of Lucky Country.
To para phrase Margaret Thatcher, “The problem with Australia is that it never ran out of other people's money.”
Australia's economy was doing all right until we decided to let covid rip.
But on a more long term scale, since the last mining boom, really, out economy has been propped up by an overinflated property market which has discouraged investment in productive industries.
You also undersold the levels of government corruption in this video, as well as the roles played by the lack of government funding in domestic services.
Both major political parties own multiple housing so the corruption is blatant.
Our economy was heading for recession before Covid along with other developed nations. Same as right now.
Our economy is a victim of global forces AND mismanagement
The biggest problem for Australia is it’s over reliance of China. China had been their main buyers of raw materials like iron ore for the last 2-3 decades, with China’s rapid industrialisation the main force behind it. However, as most people know by now, the music has stopped. There’s really no one else in the world who can take on the demand void left by China. China’s steel demand is forecasted to decline in the foreseeable future while the world demand is at best flat… so demand for ores will dwindle. On top of that, the massive Simandou project in Africa should come online in the next year or two, amplifying the already abundance of supply. And then there’s also the environmental issues as even China is going Green. Demand for the medium-grade Australian ores might be squeezed further as mills in China might opt for the higher grade materials which are more expensive but are more fuel efficient and environmentally friendly, which is why companies like Fortescue are now looking at developing “green metal”, some sort of iron ore ball wrapping around hydrogen so it burns on hydrogen instead of dirty coal while others like BHP and Rio Tino are slowly but surely transitioning into a copper-focused miner. So the future of one of Australia’s biggest and most important sectors is looking quite grim imo.
Housing should have never been a commodity. We now have 2-3 generations that wont have a home ownership rate of 50%^ until relatives pass away. Even then the wealth will be divided between siblings, resulting in asset sales where the assets just get bought up by national and international inveators.
Relative stable government? Are you smoking crack. How many prime ministers and governments have the aussies had in the last 20 years? Howard, Rudd, Gillard, Rudd, Abott, Turnbull, Morrison and Albanese.
and all the backstabbings
love hearing about our struggles from the outside - always charmed
I point a crisis is when your leader fails to notify the public he's out of the country while it burns. Then when he gets back says he couldn't do anything about it anyway.
That's loser talk, so we turfed him out.
I don't think that's what ultimately cost him though. What cost him was insinuating that West Aussies were cave people. Turned the entire State against him. Won only 5 of the 15 WA seats meaning that the Liberals lost 6 of the seats that they held in 2019. Alienating an entire State with an immensely popular Labor Premier at the time was not a smart idea by Scomo, but then again he wasn't a smart man.
Scomo was bad but he was just an easy target the political issues run extremely deep in this country. What would have been the 2 most effective pieces of legislation in the past 20 years, the mining tax by Rudd and abolishing negative gearing by Shorten. 1 resulted in a coup and 2 was rejected by the electorate. The country is just stuffed
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Hello, how do you achieve such biweekly returns? As a single parent i haven't been able to get my own house due to financial struggles, but my faith in God remains strong.
I'm inspired.
Please spill some sugar about the biweekly stuff you mentioned
Wow 😱 I know her too
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I started with a miserly $1500. The results have been mind blowing I must say TBH
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I am European and from everything I studied and looked at,
It looks like the entire Western world and civilisation is basically in a winter we won't get out of.
Meanwhile countries like China are rising. Only the USA is basically still powerful, and God knows how long that will last.
We are going to go through lots of suffering in the West. Poverty coupled with the fact that our elites use mass immigration to "boost GDP" which also brings cultural degradation and alienation, and crime, rapes, violence. I honestly think only far right Nationalism can save the West right now by putting our economies first, and shutting down immigration to zero, at least on a cultural basis (ie: an Englishman should still be able to go to Australia and vice versa).
This doesn't quite paint the whole picture. The reason our GDP is falling on a per capita base is because in the past 2 years alone our population has increased by 1.6M. Naturally this would decrease GDP per Capita as the GDP nominal, which is still growing at relatively good pace, is divided across a greater sum of people. When it comes to the housing crisis, everything said in this video is true. Housing is very expensive as is rent and it is a problem. However I do not believe it will collapse as there are simply too few cities to squeeze our current and future population into, thus demand will always be high. Yes, our exports are falling but the budgeted price for iron ore specifically - our main commodity export and thus revenue raiser - was $60 a Ton However it is currently at $100 a Ton well over the budgeted price. When it comes to the future, our current government has given out Tax cuts to ALL income earners in Australia. Further, our government plans to diversify our economy through increasing manufacturing via the 'Made in Australia act' which is essentially Australia's version of the Inflation reduction act. This will stimulate the economy and further growth over the future.
Looking back at housing specifically, numerous governments are looking at creating poly centric cities with cities having more than one CBD thus increasing density and increasing housing supply. In addition, this would be on top of the 10B Housing Australia fund which aims decrease the financial burden of building the targeted 1.2M homes by 2030. This will be achieved through the government investing the aforementioned 10B in the ASX and using returns to finance the build.
Ultimately, it is clear that Australia's economy does face significant challenges however they are not of a magnitude that would justify such a negative outlook as discussed in this video. I believe that Australia will continue being successful, growing, and stable western economy well into the 2030s and beyond.
Governments always put forth plans that will fix the current issues but usually the problems will persist, so perhaps dont be so quick to dismiss concerns simply because 'there's a plan to fix it'
Australia's probably better than a lot of the world but there is a real chance of more lost decades in terms of per person outcomes.
Here here
@@Pasta_Pirate plans often fail because different governments with different political interests often don't agree with the proposed solution. Thus, me being "quick to dismiss concerns" has nothing to do with blinding optimism but rather an acknowledgement that Labour has put forth a plan that is in action and subsequently would be foolish to cancel under a possible liberal government.
Ultimately, the problem is not that the plan will fail but rather will it 'persist' through political fluctuations of government.
FOREIGN STUDENTS DO NOT SUBSIDISE DOMESTIC STUDENTS. Our taxes contribute towards domestic students. Foreign students pay universities and those universities make massive profits! Let's get this straight!
TLDR bingo on countries with some sort of crisis
Thank you for a story about Oz.
Prices have skyrocketed and housing/rent are now insane!
Both political parties have made good and bad decisions.
P.S. Yes we have poisonous snakes and spiders, but they are usually in the rural areas.
Just Saying !
i thought all aussies knew the difference between poison and venom...
you've shattered my image of australians as snake wrangling, croc wrestling, spider taming, koala hugging, kangaroo boxing gods haunted by the evil emus! how could you?! now my life has become meaningless and empty, devoid of all joy and pleasure.
🤣
i disagree about your third point, 10 years of libs put us in this situation which we unfairly blame on labour, there is a mediocre party and s god awful one
The economic policies from both major parties have been absolutely terrible for the last decade. Wayne Swan was the last treasurer who had any idea what he was doing. The Liberal treasurers who came after were completely clueless robber barons, and the current treasurer Jim Chalmers is possible the dullest mind ever to sit on the front bench of a Labor government. I don't always agree with Labor's policies, but I do agree with the old saying in politics that "at least Labor gets things done" - this no longer applies. The current Labor government in Canberra are completely useless hand sitters, and the opposition are frankly terrifying ideologues with no vision for the future. Unless there is a major generational shift on both isles of parliament, we are indeed going to come down with a very severe case of Dutch Disease. If Albanese doesn't sack his utterly incompetent treasurer by the next election, I will be forced to figure out which of the minor parties is the most worthy of my vote.
@@merlin5662 both parties are cut from same cloth as globalist sell outs. Both can be blamed. Try voting a nationalist party and see things improve fast.
@@marcdigiambattista751 vote independents, I don't think other parties like the greens or united party really have the backbone to see a better Australia if they get in. At the very least, I feel like teals have the strongest chance of strong arming both major parties if they cannot form a government.
In regards to labour, I slightly disagree. They are a far cry better than any liberal government we have, but the libs have the backing of the media. So any good that labour has done isn't acknowledged. Not only that, they can't make any real change BC they are walking a tight rope where no matter if they do good or bad, they still lose. They have some really good policies but failed to garner support. If that media bill passed, we would be in a better state
We don't make anything here anymore ( even people) and it's catching up with us. Back in mid 70s everything was made here even our underpants power tools, whitegoods and cars.
That is definitely not the problem. Our labour costs make this completely impractical, and lowering them would lower our standards of living.
That's why the government is persuing the Made in Australia Legislation. So we can't make things here again, but this time in the new industries which will pay way more.
The Made in Australia legislation is aiming to target this. We missed the wagon for those industries but hopefully we can capture new emerging industries.
@@SocialDownclimber Not at all, if we make the Robot that makes the underpants, we can make our own underpants and export the Robots as well internationally as a product.
Look at the wages in Australia. Impractical to manufacture the goods you’re talking about. Would cost the consumer ten times plus to purchase the product.
It’s been like this for 4 years, rent and housing prices are very expensive. Food and fuel is very expensive now too, same with construction materials are overpriced. Wages going up doesn’t mean that the cost of things aren’t going up 10 times faster
Don't have the time or the energy to point out everything wrong with this vid but here is a few:
It's laughable to suggest Australia has largely avoided Dutch disease.
Education in Australia is not an export it's a migration pathway.
Australia has not 'cracked down' on student visas.
Foreign students do not subsidize locals.
*chefs kiss 👌
As an Australian I can say this is one of the best summaries of the situation I’ve seen from someone not local
One weakness of the Aussie economy is it depends very heavily on resources and they don´t have that much in the way of secondary industries compared to similar economies. I also think they got really screwed over by that dodgy trade agreement they signed with the States, which destroyed a lot of their domestic manufacturing.
Another problem of course, is that they are very dependent on Chinese demand and if Chinese growth slows (which it is doing), it will inevitably affect their economy.
The thing is on economics no country is getting it 100% right or wrong.
Australia sounds like Chile but wealthier.
"is it depends very heavily on resources and they don´t have that much in the way of secondary industries"
"Another problem of course, is that they are very dependent on Chinese demand and if Chinese growth slows (which it is doing), it will inevitably affect their economy."
Applies as well
@@martinmoreno32 yes, Australia is unusual for advanced economies in that primary resource exctraction is a really huge part of their gdp.
It seems the English world just has similar patterns, Canada, Ireland and UK are all having thensame housing crisis and high cost of crisis
High house prices yes, although this is not confined to the Anglosphere. Australia’s (and to a lesser extent Canada) economic woes are very different from those in the UK and Ireland. The UK for example is world leading in biotechnology, robotics, pharmaceuticals and many other technically advanced industries. Not true of Oz unfortunately.
@jontalbot1 I should clarify, my comment is talking about the housing crisis, specifically in regards to the barriers in regards to restrictions that don't allow supply and affordable housing to be built. The Anglo works unlike other regions has completely abandoned the idea of government housing and has completely treated it like an investment.
@@MrAlen6e That is correct but the subject is the challenges facing the economy. Oz has been in the fortunate position of sitting back and allowing the mining sector to deliver growth. This cannot continue if standards of living are to be maintained. One specific issue has been the refusal to acknowledge climate change and therefore, unlike other developed nations, invest in new technologies and infrastructure. There is a price for climate denial
The biggest current problem in the Australian economy is the housing crisis. The biggest problem with the housing crisis, is the cost of construction of a new home.
It is very nice for Japan to import a lot of Japonica rice from the US and a lot of meat from Australia and to become an important parts supplier to Germany, right?
G'day from Australia. There are a few other factors stopping or slowing economic recovery.
1. The raised interest rates are not working to temper inflation mostly because Australia has millions of small business owners who have large mortgages. Every time they raise rates these small business owners are forced to raise their prices to meet the increased interest payments and this further adds to the inflation problem.
2. Since COVID rents have nearly doubled in Australia due to several factors including landlords using a price fixing app to constantly raise rent to the so called market value which is always increasing as they are all raising the price constantly. Add to this that many rental properties are mortgaged investments and you have the same issue as small businesses so they raise rents to cover increased interest payments. It's become a never ending feedback loop of ever increasing prices. With a large portion of income going to rent there is not much left over for consumer spending for working people.
3. There are millions of baby boomers who are now retired. They are the landlords and most are very well off. They don't work, don't pay taxes and have most of the money and usually earn more through investments than most people earn working a job. Their spending power is far greater than working people and prices are set to these retiree's income level making everything more expensive.
4. Probably one of the biggest factors is the privatisation of essential services. Successive government's from both sides of politics have slowly sold off the countries essential infrastructure for short term budget gains. They said competition would drive down prices which obviously didn't happen when you have companies with duplicate systems just adding to the cost of something whilst trying to generate a profit instead of a service that used to be run by the government at cost for no profit.
5. Last but not least the massive privatisation and Americanisation of Australian industries, services and companies has led to record price gouging and company profits. Every company is milking every cent they can get out of every customer and it's just reducing the amount of discretionary spending money in the economy.
We are still pretty well off compared to most countries but they are trying to drag us down to the level of American and it's bottom dollar winner takes all style economy. Hopefully things will improve soon but it is unlikely. The systems are in place to turn Australia into USA 2.0 and it's citizens into cash cows for the rich
We are a special administrative zone, sort of like Hong Kong is to China but larger. Same problems though.
Drag down to level of US? Actually, life in the US is generally quite good by international and historical standards. I’m sure life in Australia is pretty amazing, too. I don’t understand why people who are so fortunate (unironically lucky) feel like such victims.
@@greble11I wasn't meaning to disparage the US people. I was more pointing out that the US economic systems seem to be deliberately engineered to keep most workers poor whilst managing to extract all their wages from them. The same type of thing has happened in Australia over the last few years. Wages are way lower than they should be and every company is extracting maximum profit from people. This is US style economics and is slowly bringing our living standards down. It's gotten to the point that people are asking for tips here now and unfortunately hospitality wages are so low now you you feel guilty if you don't give one. Historically tipping has never been a thing in Australia. That's what I meant by dragging us down to the US level
@@greble11 Agreed. We have it so good in Australia, but everybody wants to complain about everything and then do nothing to fix any actual issues. Additionally, the australian media is owned almost entirely by wealthy people aligned with the conservative party, and spends enormous resources attempting to sour the labour movement in this country and its representative Labor party, so that the elite class can continue exploiting the working class. You can see it even in this main comment- "Successive government's from both sides of politics have slowly sold off the countries essential infrastructure for short term budget gains" the Labor party verifiably does not do this, they have recently gone on record taking a strong stance against any sort of privatization, yet most people simply lump them in with the conservatives and say that they're both 'the same'.
@@darrensmith5997 Thank you. I’m also concerned about the growing gap between those with high levels of education/skills and those without. But, I wonder if some of those discontent these days is caused by the compulsion to ‘keep up with Jones’s’. In other words, the more consumers goods that are available, the more some people feel left behind if they can’t afford the latest tech gadgets or luxury. When I look at old photos of my parents’ first house, I’m struck by how spartan it was. No home computers, laptops, WiFi, granite countertops, Netflix, smartphones, color TV, (let alone large screens), etc. And, my parents were not at all poor. Coincidentally, today one of my co-worker mentioned in passing that he is going on a 7 day luxury cruise to Bermuda. I think this is his 4 or 5 cruise on a ship that has luxuries that were unimaginable in the 1960’s and 1970’s. And, he just bought a jet ski. He didn’t go to college, his wife is a hairstylist, and I think he’s going to vote for Trump because he’s unhappy with the performance of the US economy under Biden. My dad was a scientist with a PhD from one of top universities in his field, yet he never lived that kind of lifestyle, nor did he particularly aspire to.
Lately, I’ve been wondering how much I would have in savings if I avoided buying things that weren’t available when I was kid. It’s not even possible to buy a car like my first one: a VW Bug with no A/C, no airbags, no backup camera, manual windows, AM radio only, fob key, etc. etc. But, I probably could have retired years ago, if I tried to live a 1960’s/1970’s lifestyle. And, I would probably just as happy or happier. I don’t think the unquenchable desire for more and more things and more luxury is a uniquely American thing or a 21st century thing - not at all - but I think it is a problem with the current economic system. It’s hard to diet when you are surrounded by an abundance of inexpensive food, and it is hard to live a simple lifestyle when you are surrounded by an excess of inexpensive consumer goods. It is a problem, just like inequality, I think.
So, I share your concerns about the growing inequality within wealthy countries (and even more so global inequality), but I don’t understand the deep level of discontentment with the current economic situation.
PS Tipping is getting out of hand in the US, but I have mostly positive feelings about tipping in general. I’ve had jobs that depended on tips, and when things were busy, it was nice to go home with a pocket full of cash. If we were working harder on a busy shift, why should all the money go to the owners? If the tips were too low, it was always easy to find a better place to work. It’s not a perfect system, either. I understand that many US restaurants have trouble finding people to work in the kitchen, for example, because the servers are making mint. So, immigrants with more limited English skills get stuck with those jobs. Sometimes, the servers are expected to share their tips with other staff members, but, of course, sometimes the hapless dishwasher might work like crazy on a busy night, and the largesse that the owners and the wait staff enjoy doesn’t necessarily trickle down to the to everyone.
Australia's economy has intentionally been pushed into crisis by two parties that benefit from it due to their personal investments. We are already past breaking point. Unless you've already retired, you will not retire until you are 75. And when you do, it will be because you physically can't work anymore. You'll have no savings. Your Superannuation will have evaporated just to pay off Cost of Living increases. You'll have had no kids because you knew you'd never be able to afford them. And your landlord is going to evict you next week, meaning you'll spend your senior years very literally in the gutter.
There is no future here. Do not come here. Word of mouth evidently hasn't gotten overseas yet given our immigration numbers. If you come here, you will be destroyed. Because our government is deliberately creating artificial scarcity with housing. The only ones with wealth are boomers and nepo babies.
It. Is. Over.
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She's a licensed broker here in the states🇺🇸 and finance advisor.
After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.
Wow, that's nice. She makes you that much!! please. Is there a way to reach her services? I work 3 jobs and trying to pay off my debts for a while now, please help me.
Australian here. I'm an immigrant who came to Australia 6 years ago, I bought a town house in Sydney. I'm not lucky, I just worked my ass off, but most importantly worked for the right thing. Yet I feel I wont be able to pay my mortgage next month
Coming from a third world country, it’s so funny to hear Westerners complain about their situation ahaha
That's the rat race for ya
The Rat race?@@toyotaprius79
@@toyotaprius79what is with millennials making vague and goofy statements trying to sound profound, actual brain rot
And that's why you live in a thired world country, you need to complain more
@@less7651no need to explain, it’s too profound for you sheep to understand! It’s the rat race for YA 🤪
Decrease immigration and increase capital gains tax
Canada and Australia being very same hat. Frequently not for the best.
Australia & Canada's economies are fine.
@@dsdgdsfegfeg have you been in a coma for the past 6 years?
Yeah, who would’ve thought that relying on mass migration and commodities for economic growth that’s unsustainable is bad. The politicians in Australia and Canada have gone far too long not doing their job of coming up with real economic plans that’ll deliver sustainable growth for the country.
@@enticingmay435 Both countries do need more immigration still. Very low population densities make infrastructure more expensive and minimize the domestic markets for transforming away from resource extraction.
@@InvisibleHotdog I've been wide awake.
You watch too many scare tactic media
As someone who lives in Western Australia, a place that is one of the centers of the mining boom, one of the issues we face comes from the mining boom itself. The miners were, and still are, being paid hand over fist led to prices of most goods and services being set higher, while this spread out to the whole economy wages didn't rise with costs and prices as inflation drove them up. This has led most of us to be doing it real tough as the cost of living is eye-wateringly high.
I think housing is a huge economic issue in Australia. Who has the money to go out and spend or invest in a business when you have to pay off a massive mortgage?
People think they're getting richer when house prices are going up but wealth is relative. Unless you're planning on emigrating, your relative wealth isn't really increasing.
Boom. The value of the house you live in is just paper wealth. It in no way contributes to real wealth 👌
When you allowed large conglomerates to consolidate iconic Aussie brands, and ultimately export their offices overseas, and then shut down your local car manufacturers ...
your industrial base ... what do you expect???
OIL! They dont have their own oil so high oil prices is a persistent problem
Ray-gun's shenanigans must have had a part as well.
Scott Morrison ruined Australia and (soiled) his pants in Engadine McDonald's..
Australia was ruined by John Howard. Most of the problems we have today have their roots in the Howard era. Morrison didn't ruin anything, he was an ineffective PM like Turnbull and Abbott before him, they all kept the country in neutral.
Not sure why YT keeps deleting my comment, but Australia was ruined by John Howard. All of the problems we have today have their genesis in the Howard era.
What has albenese done to fix it?
@@sammccarthy9388 Nothing. Albo is just another in the line of wet fish PMs whose only goal is to win a second term, so he takes no risks and pushes no actual reforms.
Morrison made things worse, but Australia’s economy has been a ticking time bomb since Howard.
Who put that line about how “the invincible economy became ‘vincible’” into the script and made you read it? I like that you couldn’t even keep a straight face while saying that.
it's weird seeing australian politics being described as "stable"
Just tells you how chaotic things are elsewhere
@@nikobellic570haha yeah, reminds me of 2020 when the same emotional responses happened here for 700 deaths, versus 70,000 elsewhere
You can be shocked but not shocked-100
Small error: There's some conflation of Dutch Disease with the Resource Curse. Dutch Disease refers to the currency demand issue (noted at 1:48) and generally affects developed economies, where the Resource Curse is the corruption/inequality issue (as you noted at 1:58) and is mostly confined to developing economies.
The "lucky country" tag is actually a slap in the face to Australia if you want to know the truth. The phrase was written as a comment on the luck of people too ignorant to appreciate their good fortune
I feel like the entire global economy is going through a economic crisis /disaster with this channel..even well off countries
Yes, I think they make a daily scan for countries that might not be doing that great.
There ISN'T a housing bubble in Australia and the government doesn't have a task of deflating it. Prices are high because of the extreme mismatch in supply and demand. Australia needs tax reform at the federal and state level and planning/zoning reforms at the local government level. The tax reforms will reduce the demand and planning/zoning reforms will increase the supply.
There definitely is a housing bubble though, as much of the demand is from investors looking to make money. If the market starts looking like they cannot return their investments, the market will absolutely tank. That is why governments have to be so careful with housing policy, and won't make impactful moves to fix it.
@@SocialDownclimber No there isn't. Demand from investors doesn't make it a bubble. If the investors can find renters, which they can easily as the vacancy rates are less than 1%, then they can service their mortgage. This isn't like China where investment properties are empty.
Negative gearing is a factor. We should incentivize investing in productive assets not passive ones.
wrong. banning foreigners and non citizens from buying would bring house prices down. the prices are manipulated to be high.
@@soulsphere9242 cope harder. Hopefully the hoarders lose hard.
Australian here! Along with these factors, the current Labor government we have here is not helping us economically either.
/rantON
We don't have a housing crisis. We have a crisis of councils not letting people build what the market needs.
Instead of building up, many city councils will instead seek to preserve the status of suburbs by strictly controlling new buildings. They also frequently won't let people put in small buildings with plumbing to sublet them.
For example, my uncle's neighbor lives on five acres in a rural area and he's not allowed to build a separate building with plumbing for his mother to live on. I know someone else that has an outer suburb house on a quarter of an acre, he isn't allowed to put a small apartment on the back of it.
/rantOFF
it's a mix of a lot of things. You can't cover it in depth within a sub 9 min video. In Aus here.
@@ChineseKiwi for sure, if there was a simple answer it would have been done.
Ppl never mention the impacts of brexit in the Australian economy.
China’s also just opened a huge top-quality iron ore mine in West Africa specifically to reduce its reliance on Australian ore. As it ramps up it will cut into Australian exports and revenues.
Assuming it is consistent and reliable of course.
Why Australia needs to invest more in Indonesia and India...
Yeah but we avoided the gfc because of the government’s intervention, not because of because resources
Remember everyone, to the rest of the world Australia's economy looks pretty good, but to Australians almost everyone things it's doing horribly because of just how overwhelmingly influential our media monopolies here are, which are eternally married to the LNP-rightwing party
I feel sorry for all the young Irish people who feel forced to emigrate to Australia, despite Ireland also having a faux booming economy
🔸10 years ago 👉🏼 Neutral = ABC & Fairfax. Right Wing = News Corp
🔸Today 👉🏼 ABC = Extreme left wing. Neutral = Fairfax, Extreme Right Wing = News Corp
@@toyotaprius79 How come so many irish blokes are coming over here? I have alot of irish fellas at my work but i never asked why they emigrated
They must of gotten their information from another Fox News poll.
wtf? they parrot albo's party line enough already, do they need to do it 24/7 for you to be satisfied?