Do you know how much the cost of living is in Scandinavia? You’d have a bloody heart attack. I’ve paid three times the amount for a item there than I would pay here.
I think I should make a new a new dating profile -
F/39 likes to bake, owns her own property outright.
Height... weight... do you really care? I have a house and a car.
This could really change the OLD market really. Our only options are to find someone who is older, bought property young, inherited/help from family to purchase, or die homeless/attempting to rent.
Men have seemingly never really given much of a shit about how much potential dates make, but i kinda wonder if that might change.
Like choosing a lawyer over a teacher for no other reason than the idea of possibly buying a house one day being more realistic that way.
i mean women often desire types of men who are definitely in the minority. It would be an unreasonable expectation for people, but its not like that ever stopped anyone.
>As a 37 year old with no kids and no property I've felt alienated by Australian economic policies my whole adult life.
As a 42 year old with kids but no property I've felt alienated by Australian economic policies my whole adult life. I have seen government assets being sold off and the profits being used to justify tax cuts to the top end of town, I've seen policies passed which made bank for the lucky few who had the capital to capitalise on it, I've seen policies passed which set our housing market on fire which we are still seeing the effects of today and I have seen policies passed which shit all over those who don't have as much as everyone else.
Well, the chickens are coming home to roust in droves and it remains to be seen whether we slide into a US style economy with the massive divide between the haves and have nots or if we will fix our slide and end up with a economy that helps everyone out regardless of how much money they make.
I have been thinking that lately, and also don't want to think like that... One country I really don't want Australia to emulate for many reasons is the USA.
Yes but the one country all of our politicians really do want to emulate is USA. It would be so much more profitable for them. ie they have every incentive to make us USA lite and no incentive to not.
I’m 49. And gave up over a decade ago on government policies actually benefiting anyone not a boomer.
And it’s always been all about them…..
…. You can pretty much map that bunch as they aged through their work lives:
80’s - Go,go, go! Capitalism rules! Sell off everything! Housing is cheap!! Welfare is for bums!
90’s - Now we have houses we need better ways to get more! Negative gearing!! Woohoo!! And universities cost to much! Privatise them to! We already got our free degrees!
2000’s - Now we need more super!! Lets get that sorted! Up and up we goooo! And all that money going to waste on social housing. Pah! Lets get them sold to get bigger investment portfolios!!
2010’s - Eh what’s this? Why are you lot wingeing! Just work hard and you too can be like us! What? Tertiary education is expensive? Nah. Just pull yourselves up by your bootstraps!
2020’s - well didn’t we do well. The whole country should he congratulating us on a job well done!
>chickens are coming home to roust in droves and it remains to be seen whether we slide into a US style economy
I've always said shit in the streets of wealthy people. Why should they not be affected by the pains & suffering of others (homelessness)? They think they can buy their way out of it in their expensive suburbs? Move in. Make it known what's happened. Maybe then they'll develop some empathy.
PS. We're well on our way to becoming the US. Look at the UK as well. Mass immigration does a country no good, except to benefit those who want to escape the mire.
Don't let them. Escape I mean. They shouldn't get away with it.
Seriously. I never bought into the OMG BUY HOUSES. My parents went on and on and I guess I never cared and was like I’ll be fine and never really thought about it and now. Fuck. It’s way too late…
This entire country is just mad. We seem to produce absolutely nothing.. except rocks and shitty houses? That’s what we’ve built everything around?
I’ve always been optimistic… but I’m starting to get a bit down because it’s just everyone just screwing each other… definitely doesn’t help that so many people I grew up with have bought in the last decade… ALL of them with external assistance (parents/grandparents/married in)… just rough..
Ugh, and the media constantly reporting 'look at this youngster who bought a house and paid it off in 4 years', with the crux being that mum and dad bought it for them and they moved back in with mum and dad and rented it out. Those of us with poor/dead/deadbeat parents can go get fucked apparently.
>Mentioned to my mum today that I would love to see how much better off things would be if we had Shorten's plan from 2019 in place for a few years now. She, in 2023, knew nothing of Bill Shorten even having a housing plan. This is why we can't have nice things.
Me too, fucked around working in the music industry for years chasing a passion. By the time that was done I had missed the boat and look back now at them hassling me to buy and realise how stupid I was. Oh well, so much for providing fun, entertainment and enjoyment for others, I screwed myself in the process.
How do you rate your early career economic crisis compared to the current economic crisis? If you had to choose between these crises, which one would you play again? Also, what is your favourite way to cook rice and beans?
42 or so here.
Rice and beans are best in the instapot for me (Disabled so shit for energy lol).
I grab a tin of refried beans, tin of 4 bean mix, tin of tomatoes, just all in with a cup of stock (usually chicken).
Add your spices. Chicken in too if you can afford some.
Steam frozen veggies in the top of a cheapie Kmart rice cooker when you cook your rice.
Will feed me for like 4-5 days. Eat with some corn chips or on some tortillas if you need some cheap variety (tortillas freeze really well, I double bag in the big ziplocs ).
Not just European parties - somehow most of Asia has ALSO done better with inflation. Jokowi in Indonesia set price caps and minimum wage rises, for instance.
We're not the laughing stock of the developed world. We're the laughing stock of the world full-stop.
I've been so disappointed in Albo. Thought I'd voted for a man who understood what it was to be poor and would try and protect the lower end of society, but he's got his and it's changed him. Apparently protecting renters from being gouged would be akin to 'nationalising housing'.
>Thought I'd voted for a man who understood what it was to be poor and would try and protect the lower end of society
I'm disgusted with the way Albanese leveraged his background of growing up in public housing with a single mother to get the vote of lower income Australians, only to completely fk us over. I heard the other day he has 5 investment properties. I'm ready to burn this whole shitty corrupt system down to the ground, who's with me?
From someone dissatisfied with albo to another, do try remember just how much shit needs to be put back in place after the liberals are in. I'm sick of it all but I'd hate them out before they are even positioned to succeed or fail us
Mentioned to my mum today that I would love to see how much better off things would be if we had Shorten's plan from 2019 in place for a few years now. She, in 2023, knew nothing of Bill Shorten even having a housing plan. This is why we can't have nice things.
Nahh, they immediately threw all poor people under the bus by refusing to raise starvation welfare.
Half of all Indigenous people in this country rely on some kind of welfare and then the ALP kicked them all in the face, and turned around to present the Voice. Deeply cynical.
Of the policies that could be implemented as progressive, we can divide them into: 1. social issues that broadly don’t require compromise or any funding and 2. Economic policies that require funding or have a negative effect on the richest via taxation etc. therefore compromise with some demographic.
We always get the easy category 1 because it is perceived as left leaning whilst costing nothing. I don’t hate minorities that are disadvantaged or awareness campaigns, but the category 2 just magically never appears. CoL, wages, and housing and GP bulk billing and teacher shortages and all the stuff that costs money is barely up for discussion. Or the cross bench has to force it.
I didn’t vote to watch a policy themed theatre show
Ok, don't know when government stopped being expected to steer the ship in a sustainable direction and started being a collection of risk averse can-kickers
And Labour are deathly afraid that if they piss off of the people who were voting Libs this past decade, they'll get voted out immediately next election.
The public has proven through their voting history that they do not want cost of living fixes.
Pretty much. Labor RAN a bold campaign in 2019. Voters kicked them in the teeth for it.
Their caution is annoying, but we can’t pretend there aren’t reasons for it. Voters have shown they don’t like big bold promises for change, no matter what they tell opinion pollsters. They don’t actually vote for them.
It's annoying but I guess I'm so brow beaten that I'm content enough to wait to see what they do with a second term if they get it. A third term Labour would be wild to see.
Can't pretend that they're not doing shit currently, even if the shit they're doing isn't far enough reaching for my likes.
Unless someone manages to do in 3 years what nobody’s done in 30 and get the Greens vote from about 12% to 25% where they might be a viable governing party on percentage of votes, then Labor’s pretty much the only governing party capable of offering anything for progressives, as sad as that is. It’s all very well to say vote for someone else, but at the end of the day there’s only a couple of parties that have anywhere near enough votes to actually change the country. I’m not in it to protest vote, we need to win for shit to start getting better, and the stakes are too high to fuck around.
Totally get your frustration and re: beaten down though. I really regret Labor losing in 2019, because I knew they’d run scared and go small target next time (for context, the Libs did the same thing in 1996 after they lost to Keating in 1993 when they thought they would win because they had big changes proposed that scared the crap out of people. Then Howard came along and pretended to be Mr Nice Guy, which is how the snake slithered in in 96 when people were sick of Keating. This isn’t just a Labor thing, it’s a “politicians want to win elections”
But yes, some changes happening which are good. Further and faster would be better, but saying it’s nothing is just factually not true.
I very much doubt Labor will get majority government next term. They barely got it this term.
With all this approving coal and has mines they are going to lose seats heavily to the greens and independents next election.
Agreed. He is just the PM and there's a lot of be unfucked across multiple years. The reps and senators, are running their own agendas, and the Secretaries of departments may not have changed yet. And everyone down to the el2 level is mostly looking out for their own skin.
All that he'd need to do to protect the little man is implement rent protections and profit-to-production caps for bread. That's really all he'd need to do to walk out of the Lodge as the most well-recieved PM since Bob Hawke. Yet he won't even do that - I'm with you on the disappointment
You know Albo has a decent size property portfolio right? About 5 million worth from memory over 5 properties. I’m not one to shit all over success, like, good on him, no one can say he hasn’t worked hard in his chosen profession. But don’t expect someone with a 5 million property portfolio to be on the side of renters. As a general rule, expect people to always act in their own self interest and you’ll rarely be disappointed.
The corollary to this is that the system needs to be set up in such a way that the welfare of the decision makers is directly tied to the welfare of the common man. I can’t name a single government on the planet who have accomplished such a system. There have been a few special individuals who chose to lead this way, but they are the exception, not the norm, and we are foolish if we expect most people to behave like that.
You're not seeing the long game - that's why we refuse to move away from coal. The Great Aussie Ploy is to melt the entire antarctic so we can go put shitty low density houses and 400 more Colesworth locations on it
This has been the norm for as long as I remember, we battled through the GFC, to COVID, to this... I honestly lost count of "once in a generation economic hardships" the libs told us was once in a blue moon...
Early 40s, no kids, work full time in private sector. Our role is to fund the rest of Australia with our taxes.
Not against taxes, I know it is a requirement for a functioning society but yeah, not really feeling included in any policies. Not rich enough or poor enough.
Also, while the ABS measures inflation on a 12-month horizon, Australians are certainly not so limited as to when they put down their mental anchors.
Like, I remember when my yoghurt cost $5. It now costs $6.50. To me, it's up 30%.
Now, that is probably an early 2020 price, so the 30% increase is over 3 years, and it matches neatly to measured dairy price inflation of 9% per annum or so. But I still feel fucking cross about it!
And even when inflation is back at its normal rate of 2-3% my yoghurt won't go back down in price. In fact it will probably go up again to $6.70, which will be a modest two-to-three-percent increase but will make my blood boil !
It actually might depend on the product. Fruit and Veggies have actually gone down in price compared to last year.
My theory is that it's because it's just farmers and stuff, there is no "branded" veggies like there is for yoghurt where the companies making the yoghurt also take a profit there.
Fewer inputs = less exposure to inflation.
A lot more goes into making a packaged, processed product. Much higher chance that your costs increase compared to something with fewer steps to make it.
>Also, while the ABS measures inflation
Something's just occurred to me.
It's not inflation that's the problem, it's that our economy is not growing enough for our wages to rise to pay for increased goods.
Inflation is the way the govt masks what it hasn't done, which is to encourage a thriving economy.
> inflation is in retreat
Unless it’s negative (i.e. deflation) a smaller inflation doesn’t mean “things are getting cheaper”, it means “things are still getting more expensive but a bit slower”
You're fucking dreaming if you think prices will go back down. This is what stuff costs now at minimum.
The older I get the more I realize that "economic policy" in australia is property. Funnel as much into property as you can. Hinge the entire nations economic prosperity on it. When citizens can't afford it any more, bring in an unsustainable amount of internationals to keep the party going.
Politicians don't care. They all do it. None of them will be in power by the time it collapses, and the ones that are will just claim it was unsalvageable situation left to them by their predecessors. There's no accountability ever they all just lie.
I don't care who you are, what side of the politican spectrum you're on, or who you vote for. Every single person in parliament is just there to rape and pillage and none of them have any morals aside from making you outraged at others. They're all complicit because none of them speak out about what is happening. Even progressives. Nobody gives a shit, they all just want their time.
Short of some kind of revolution, this will keep going. There's no consequences for anything and no accountability. Who do you think is attracted to that? Sociopaths.
We're all fucked.
To paraphrase the words of Richard Dennis from the Australia Institute
Why do we even talk about this as being an economical issue? None (or few) of us here are economists. Why have we been trained to talk about it this way?
Isn't it a democratic issue? What if the original post was reworded to something like 'I'm an X year old Australian and I feel alienated by the way the Australian government treats people'?
Fuck talking about the economy. Politicians have been treating everyday Australian's like shit for too fucking long and I'm sick of it! Start treating the planet the right fucking way and looking after the people who fucking need looking after!
I don't want to hear about inflation, employment, taxes and profits. I want to hear about WHAT IS THE RIGHT WAY TO TREAT PEOPLE and why do these fucks get away with hurting so many?
It is funny, because Australia’s history shows that the best economic choices are the ones that help Australians the most. The pollies who got their free uni who were raised in good quality, stable, public housing reaped the rewards (thanks Gough, shame about the CIA…) But they don’t even care about a functioning economy, all they want is more property for their retirements and to be re-elected… and given the last election was largely won by labor saying they will “fix” the debt, well, shit is not changing any time soon.
The system is working as designed. Even the PM is a landlord with like 7 properties. The housing fund, while admirable, is a drop in the bucket honestly.
They don't want us owning things. They want us to be plantation workers on THEIR plantation. We're very close to that now, for the majority of working people. Our freedoms are eroded away slowly behind our back. Want to buy a house? Sure, you can get one out in Woop-woop, I hear the weather is great, it hardly ever rains! Oh, you want something close to where all the jobs are? Well you can still get it, just have to do a 2 hour commute each way every day and still show up for work on time because capitalism.
Oh you don't like the stress? You're just another bludger!
>properties. The housing fund, while admirable, is a drop in the bucket honestly.
>
>They don't want us owning things. They want us to be plantation workers on THEIR plantation. We're very close to that now, for the majority of working people. Our freedoms are eroded away slowly behind our back. Want to buy a house? Sure, you can get one out in Woop-woop, I hear the weather is great, it hardly ever rains! Oh, you want something close to where all the jobs are? Well you can still get it, just have to do a 2 hour commute each way every day and still show up for work on time because capitalism.
>
>Oh you don't like the stress? You're just another bludger!
Straight from the start. Capitalism's end game was *always* economic feudalism. We either bow down to our new kings, or Pull A France.
>They don't want us owning things. They want us to be plantation workers on THEIR plantation.
Capitalism is just feudalism by a different name. With less leisure time than actual peasants had
Yep, these increased costs of living ain't going nowhere!! This IS the new norm. The dream of a non stressful, own a home and affording hobbies life is fucking over.
> Every single person in parliament is just there to rape and pillage and none of them have any morals aside from making you outraged at others.
I do not agree with this. There are multiple members of Parliament who appear to genuinely care with policies and ideals to match.
The three largest parties by vote share have policies and ideals which reduce the quality of life for Australian citizens. While we as a country continue to vote for these parties this will likely continue.
> They're all complicit because none of them speak out about what is happening.
This is not true. Look past the three largest parties.
> This is not true. Look past the three largest parties.
OK, so I looked past the ALP, with their 78 lower house members. Then I looked past the Liberal Party, with their 26 lower house members. Then I looked past the Liberal National Party of Queensland, with their 21 lower house members. And now that I've looked past the three largest parties, next is the National party. They don't seem much better than 2nd and 3rd largest?
Unless you were simplifying things and splitting the LNP(Q) between Liberal and National based on which party room they sit in? Cause yeah, in that case I think 4th (after Labor, Liberal and National) has some decent points.
At this point I feel like it doesn't matter if the man on TV has a red tie or a blue tie, you're going to see more sawdust being put into the bread over time.
I don't agree with that. Labour may be ineffectual, but scomo, Dutton and the liberal party are supremicist freaks who would grind the lower classes into dust if they weren't so inept. All while praising Jesus. Fuck that. I'll take Labour any day over that
Yeah we went from DAILY corruption scandals. For YEARS on end.
To people actually arguing about policies.
its such a relief, I think people forget just how much liberals got into absolutely rorting the system
The irony of the capitalist system he propagandised for providing the eternal boot is lost on most people.
A rapist, a snitch, a racist, and a cop walk into a bar. The bartender says "what are you having today, Mr Orwell?"
[https://www.investopedia.com/k-shaped-recovery-5080086#:\~:text=our%20editorial%20policies-,What%20Is%20a%20K%2DShaped%20Recovery%3F,industries%2C%20or%20groups%20of%20people](https://www.investopedia.com/k-shaped-recovery-5080086#:~:text=our%20editorial%20policies-,What%20Is%20a%20K%2DShaped%20Recovery%3F,industries%2C%20or%20groups%20of%20people).
See K shaped recovery. Government should be increasing taxes on capital through Tax reforms (CGT reform and land taxes) , and doing cuts to personal tax rates and increasing welfare (rent assistance and Jobseeker).
>We're all getting f\*cked and the government is telling us to be thankful for the opportunity because there is nothing they can do.
Yep.
It is like with housing. Philip Lowe was out there telling young people to give up on the dream of living in their own place, and instead move into a share house or back home. In other words a massive backsliding in quality of life for this generation. Labor refuses to do anything about the rental crisis, because it would make "the problem worse". They are building houses, but at a rate that they will never actually see any impact in the market.
Your life will be worse than that of your parents. And there is apparently NOTHING that can be done. You will happily live in a share home in your 30's, with an insecure gig economy job and little savings for the future, while you spend most of your income on food, rent and essentials. And the only solution the government has is "growth" which is mostly driven by immigration that causes all of the above to be worse and worse over time. They fiddle around the edges because they don't want to piss off those who already have theirs....including themselves.
We need significant change. We need to say "no more!"
Generation Z is the first generation in Australia in many, many decades to have a worse quality of life outlook than the previous generation.
But it's cool, we have lots of pokies and billionaires now so we're good.
Yes this is so disheartening. The bank is waving their high interest savings account option at me. I can't regularly add to savings with the increased mortgage so that's useless! I'd give this win to the renters but maybe they aren't rolling in spare cash to really benefit from cash savings interest with rent sky-rocketing either.
Bro.
Liberals cut corporate tax rate from 30% to 25%. one of the reasons was to keep prices down.
"if we increase taxes it will push prices up , if we cut taxes it will push prices down" that complete horseshit line.
That and housing annoys me ,labor campgained on removing negative gearing in the last last election with Shorten but they liberals mucked that idea. so that wont happen anytime soon.
People need to vote more progressive parties,even on a state level.
This. We get what we vote for.
Labor proved you can't win an election with "progressive" policies like removing negative gearing. So they shifted their housing policy closer to the centre. If we want progressive policies, we need to vote for it.
my idea is to force housing issue on the Nationals electorates. Once investors see the cost benifit ratio is better for regional areas and there is a housing crises there.
I want nats to propose to remove negative gearing.
It would be the dumbest 3d chess move but its the only want i see if it being removed.
We should also be 10 years into being the industry leader for EVs but no, the boomers wanted to keep their franking credits and drag the whole country down with them
>Liberals cut corporate tax rate from 30% to 25%
*The full company tax rate is 30% and the lower company tax rate is 27.5%. From the 2017–2018 income year, your business is eligible for the lower rate if it’s a base rate entity.*
*A base rate entity is a company that both:*
*has an aggregated turnover less than $50 million from 2018–2019 ($25 million for 2017 –2018*
*80% or less of your assessable income is base rate entity passive income (for example interest, dividends or rent*
*The lower company tax rate and eligibility requirements have changed in recent years. Check out the ATO website to learn more about the changes to company tax rates.*
> full company tax rate is 30%
HERE IS THE FULL SITE
https://www.ato.gov.au/Rates/Changes-to-company-tax-rates/#:\~:text=The%20full%20company%20tax%20rate%20of%2030%25%20applies%20to%20all,18%20income%20year%20and%20onwards.
You have it the other way around, because the RBA failed to increase interest rates inflation will keep rising and the Aussie dollar will fall which means petrol prices will go up. That and the war in Ukraine also isn't helping.
As long as our economy & government policies are based solely around "line must always go up", nothing is going to change.
They will gladly sacrifice the quality of life of average Aussies if it makes sure "line goes up" even just a little more.
The shareholders were promised Growth! It is our duty to ensure that we make good on that promise at all costs.
It is only through our love for consumption that we can achieve the miracle of unlimited growth on our limited mortal plane.
Praise to our Lord Supply Side Jesus!
Amen.
Yeah I feel like the world hates my generation (Y) and onwards.
Got 100k in savings and still can only buy a tissue box in the city, or a cheek-by-jowl kennel 2 hours away from where I work.
Make a little cash each year from meager investment in shares (that constantly tumble as people with capital move it to property investment), honestly report my earnings and get gouged with a bill every year, all the while reading how my landlord is probably depreciating the property I pay 10% more for year on year and paying zero tax.
Every year the budget gives more relief for owners, subsidised solar panels, etc. While as a renter I can put up a painting if I want and that's a 'win'.
For a short while during COVID I felt valuable as a person as less migration meant that I got calls back when I applied for a job. Applied for literally a hundred or so with more experience and asking for less money lately and get very few calls back, emails from SEEK telling me hundreds of others applied.
Australia rewards dishonesty, selfishness, and dangerously overleveraging your financial situation. I'm very fortunate to live a comfortable life, but it'll never be a secure life.
>during COVID I felt valuable as a person as less migration meant that I got calls back when I applied for a job
I have been superseded in my industry because immigrants have flooded my industry. Pisses me off when I turn up for a shift with someone who can barely speak English and is only there for the penalty rates. Fucked up.
I'm on the verge of wanting to live out of a van because I am so disgusted by society and can barely accept the way we sell our souls for a "roof" and material possessions.
It's not a cost of living crisis. It's a super profits crisis.
Banks, utilities, the big supermarkets, are laughing all the way to their shareholders or boards, and we are paying for it.
The lower AUD doesn't help either for things like fuel.
Not really? I dont grocery shop much. My meals are very simple when I do cook and I don't eat red meat. Im also the sort who can and will eat the same thing every day so i cook up a big batch of whatever and vegtables and eat that for the next 3 days.
I share a house so those bills are split.
Also todays economic policy now and the state of the economy today are not as closely related as people think- economic policy decided today is applied in 6 months time and affects the economy 3-5 years down the line.
Woolworths and Coles have refused to pay RAFFWU members living wages, deliver safer workplaces and guarantee secure jobs. Our response is a National strike of supermarket workers, - a #superstrike - at 10am on Saturday 7 November 2023 for 2 hours. Woolworths and Coles workers can join RAFFWU and appoint them as their bargaining representative, and then join our action. More soon
www.RAFFWU.org.au/join #fightbackwithraffwu #livingwageforall #standupfightback #standupfightback
Im 53 (Gen X), have a mortgage and school aged kids. I dont remember a time when economic policy was in my favor?
The only thing coming up that would give me a financial boost is Stage 3 tax cuts because I earn low six figures but if that isn't the definition of blood money I dont know what is. Theoretically I could give the tax cut money to a charity but I have two kids so Im going to put it in their savings accounts.
So the only light at the end of the tunnel is ridiculous tax cuts that should never have seen the light of day.
As for Colesworth we have stopped shopping there unless we have no choice. We order meat and fruit/veg on line from farmer sites.
The best example I give to show how fucked our economy is currently is we installed solar panels 2 yrs ago and halved our electricity bill, electricity has gone up so much that our latest bill was higher then the bills we had before installing the solar panel (solar set up working perfectly, god knows what the bill would be without the solar).......and why? Why has electricity prices basically doubled considering we have enough coal and gas to service multiple countries?
Here's the thing about inflation. If something goes from $10 to $20 it's 100% inflation. If the following quarter it stays at $20 (still double from previous) then inflation is zero. We then crow about inflation 'reducing' but the price is still double what it was.
It’s really unfair that meat prices are still sky high at the supermarket.
Farmers are receiving absolute rock bottom prices for lamb and beef, and have been since February this year. It’s at the stage where I have heard of farmers sending their sheep to market, and it’s not even covering the transport bill or associated costs of selling. That’s the point people will start to shoot their animals.
And there is the garbage we are spun that it takes a while for prices to go down in the supermarket as the supply chain moves through the prices. I call bullshit on that. At this point it’s just profiteering and gouging by the supermarkets.
It would make such a difference if meat prices were lowered. Not just for the economy, but for overall health of our population. With a well fed population we can be more productive and efficient.
I see the government as sitting on its hands at the moment, not even looking to try to find and supply export markets. For some reason they won’t supply the US our excess meat even though they are in a shortage there right now. Completely useless government officials and bodies which serve no one but themselves. It’s like this in every single industry in this country.
Fire up the guillotine as no one is getting ahead the way it is now.
A guy in his 60s had a meltdown in Kalgoorlie a few months ago in relation to rents and evictions.
He went to the Re office during daylight, splashed accelerant all over the place while telling everyone to get out.
Lit it up.
Walked out sat on the sidewalk and waited for the police.
He is now doing a stint in jail.
But my point is, this type of pushback will be happening more and Australia is 30seconds from full scale meltdowns.
squeeze grandiose jar observation dull market doll license insurance fuel
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
counterpoint: Supermarket pricing wars of 2014-2018. One-dollar milk. Down Down. Aldi eating their lunch. Bunnings talking about low prices and meaning it.
at different points in the economic cycle comapnies do different things. Now is a price hiking time. but not always.
Ah yes my favourite part of the economic “cycle”: cartels and near-monopolies doing loss leaders real big and increasing market share.
Boy I can’t wait til they do that again and I can acquire select products for a lower price whilst maintaining my overall spend!
They’ll definitely do it again, too. Everyone knows you have to fight hard to keep your market share (by offering discounts to us, of course!) in duopolies and monopolies with exorbitant cost of market entry.
***\[...\] no one is allowed to try to get enough of a pay increase to cover this gap because that would be "inflationary",***
Great little lie, this one; perpetuated by nearly every media outlet and nearly every politician. And they do it every time...
* GST was introduced, which removed a sales tax of 20% on a lot of items, but added 10% GST back on (a net reduction of 10%). A huge portion of goods just went up 10%, instead.
* Carbon Tax was set for 8% and never actually got charged to polluters (every single one of them got an exemption), yet prices for energy went up over 20%. They never came back down when the tax was repealed.
* Cost of food was pushed up during lockdowns due to supply chain issues. These issues have largely been solved, but the prices have not come back down.
* Fuel costs surged "due to the war in Ukraine", despite the fact that Australia does not run on Russian oil.
Meanwhile, energy and food retail companies are posting record-breaking profits... *But yeah, sure... it's the Wagie wanting an extra $3.00 an hour that's the problem.*
FFS
***\[...\] while home owners and most boomers are making bank***
I did want to call you on this one, though...
Any home-owner with a mortgage is getting absolutely clobbered right now. For those fortunate enough to own a home outright (after 30 years of paying it off), record-high council rates are kicking their arse.
The only ones making bank are large or hedge-fund-owned land lords. Those who locked in long-term interest-only loans for cheap; and are still charging "market rate".
> Fuel costs surged "due to the war in Ukraine", despite the fact that Australia does not run on Russian oil.
The same thing has happened with wheat prices.
When operating in a global market irrespective of where we obtain goods from if there is a shortfall from another source then generally the demand for where we obtain goods from will increase which negatively impacts us.
I'm studying, have a disability, work two jobs and make a pittance. I see the rich fuckers getting tax cuts that should have gone to low income earners. I see that private schools get way more funding than state schools, further advantaging the well off. You betcha I'm feeling alienated. I have for years.
You're not alone, and we're totally being gaslit. I grit my teeth every time I hear a "journalist" refer to _house price growth_ instead of calling inflation what it is. And it's not just the commercial channels and the Murdoch press, the ABC is as guilty as anyone.
My understanding is we pay more money to subsidize businesses that export coal and gas than we pay in international aid.
We are, what, the fourth largest exporter of fossil fuels in the world? And aren't fossil fuels in a boom at the moment, experiencing massively high prices?
Where is the impact that income stream should be having on people who need help, want to be artists, are single parents or just want to own their own home?
Why are we unable to propagate political leaders that are seen to be acting in the interest of the people and the country's future?
>Middle Australia has to feel this extreme pain while **home owners** and most boomers **are making bank off the interest hike**
...How was I doing that, sorry? My mortgage has gone up over $1200 per month since this time last year. I'm not the one making bank here, the bank is making bank.
There’s a high chance your asset (house) value is increasing faster than any extra interest you’re paying. It’s the long term government policy in Australia and (for example) why my parent’s home built in the 1970s recently sold for more than 30x the original cost - and this is in a rural town with a falling population and high unemployment. The same home that was able to be paid off comfortably with a single blue-collar income. Yes indeed things are very messed up.
Because I'm paid under SCHADS between the yearly increase and jumping up a subcategory after my first year that's a raise of around 7.75%. So not in pace with rental increases and barely ahead of regular inflation.
I'm disabled. This is the longest I've ever had a job, I really like it, and I have no plans to leave. But it is definitely sad when it's put in perspective in terms of cost of living.
Whoever is telling you that you are not allowed to try for a pay increase is full of shit. Everyone in Australia has the right to request and fight for a pay increase, especially in this economic climate. Large employers like colesworth are raking in billions and the ground floor workers are expected to just suck it up? Nope.
I feel an internal frustration building, in a way that I have never felt before.
I feel hopeless, I feel resentful. I think most of us are close to rioting tbh.
This will be an unpopular take, but the actions currently being taken by the government is textbook economic policy, and unsurprising to anyone with an understanding in [Keynesian economics](https://en.wikipedia.org/wiki/Keynesian_economics). The fact that labour is doing this is especially predictable, as they followed the same model when they were in power during the GFC.
The basic idea is the government is such a large entity that spending and taxation causes massive changes in demand in the country.
- If they cut taxes/raise spending, (running deficits) they will increase aggregate demand for goods/services, as people will have more money to spend, or the government is buying services through spending
- If they increase taxes/cut spending (running surpluses), the opposite will occur.
So the conclusion is the government should spend in the "opposite" direction as the current economic climate. This in effect smooths out the business cycle, causing smaller recessions during downturns, and less inflation during booms.:
- In a recession, the government should run defect budgets to increase demand and pull the country out of the recession
- In a boom, the government should run surpluses to decrease demand to reduce inflation
In the GFC, the labour government ran large deficits, and avoided the country entering in a recession. Now we are in a boom period, it is unsurprising that the labour government is aiming to run large surpluses to achieve the opposite effect.
In addition, many suggested solutions to inflation often have adverse effects that can work against their intended goal:
- Building more public housing: increases demand for builders, increasing costs of private new houses
- Rent caps: reduces the demand for housing investment and reduces the incentive for people to share houses, reducing rental supply
- Rent subsidies: increase the amount people can afford to pay, resulting in bidding the price up
The only policies that will work well are ones that are either decrease aggregate government spending, or leave it the same. The main two I think of here are:
1. Decrease immigration. This will reduce demand for housing, causing prices to fall
2. Increase company tax, and use the extra revenue to increase welfare and cutting lower income tax rates. This will increase inflation slightly, but will help the people most affected by the current inflation.
What would you like to see them do?
Personally I think getting rid of stage 3 tax cuts would be a good start, but they’re yet not in effect so that wouldn’t change our current reality.
The government has made significant changes to the RBA and are holding on to a $22B surplus in the short term as they don’t want to fuel inflation and fight against the RBA’s effort.
There’s no quick domestic fix to global supply driven inflation
While the stage 3 cuts could go, I think the government should be looking at company tax. They had huge amounts of money given to them through Jobkeeper. The LNP gave companies a huge range of offsets and deductions. The new government could reduce inflation and had an unprecedented chance to simplify the tax system.
It's a political decision more than an economic one.
It's so that in the future Labor can point to this financial year and say something like "we achieved budget surplus in our first year when The Coalition couldn't for more than a decade".
They're just building rhetoric.
Oh I know that, it's just a certainty that no one will give a fuck and the LNP will just spend it.
It's the laziest 1990s neoliberal rhetoric to strangle Medicare and welfare into submission in order to deliver a surplus. Clinton liberalism.
And the coalition aligned media will then just go "Labor pushing battlers into poverty, LNP better economic managers". There is no rhetoric building against institutions that don't actually respect the truth. They don't care if Labor can point to a budget surplus, the point is to criticize Labor. They will make up a reason to do so.
If Labor legitimately believe that the Murdoch press or conservative political groups will ever prefer them over the LNP then they need to fire their entire political strategy group. It's insane watching Labor try to appeal to a voting base that will turncoat the moment the LNP puts someone with more charisma than Morrison front and centre.
It's the american democrats all over again, so busy playing political games that only they truly seem to care about. Meanwhile populism and the alt right spreads like wildfire because of the economic disenfranchisement that centre left parties don't want to bother addressing lest it makes them look bad to conservative media. The same media who will gleefully take them to the cleaners the moment they think someone like Dutton can possibly win.
Like have Labor learned nothing from how the LNP runs electoral campaigns? They use disinformation and electoral grey areas to make Labor look bad. The evidence for Labor being better economic managers has been there for decades now, it has not helped. Because the media and conservative outlets don't actually care about who is realistically the best economic manager, and they probably never have. It's just a stick they use to beat Labor with, when it stops working they'll just find another one.
But if they spend it they risk adding to inflationary pressures, higher interest rates, more pain. There’s not much they can do with it in the short term. My guess is they’ll wait till inflation is under control then spend it to avoid a recession
>but the price of everything has remained extremely high and will never return to 2022 levels?
That would be deflation, not inflation coming down.
>We're all told that no one is allowed to try to get enough of a pay increase
Who said that?
>Who said that?
The now former governor of the RBA during one of his speeches when they started the QT because he was really afraid of a wage-price spiral
My political self post that nobody has seen from the other day.
37yr full time employed, full time single parent of two 90k sal.
I've voted labour in every election for the past 19 years. This time around after a long stint of a fiscaly ostere liberal regime, we've had Labor in government for a year and a half and I my life has not improvednat all. Leave alone inflatation which I don't place all blame on government, but, I've paid more tax this year, less deductibles for working from home. I haven't seen any policies in the pipeline to lift the low-middle income households. Am I taking crazy pills, or is identity politics taking the spotlight while wealth equity in this country continues to erode? Feeling very nihilistic about the future.
As a 37 year old with no kids and no property I've felt alienated by Australian economic policies my whole adult life.
38 here and same, need a hug bro? I do, my only hope of not renting is finding someone who already has a property.
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Dear God, why are you not moving your family back to Scandinavia?
Do you know how much the cost of living is in Scandinavia? You’d have a bloody heart attack. I’ve paid three times the amount for a item there than I would pay here.
I have a paid off property, but no money.... we could get along...
How you doin 😂
I think I should make a new a new dating profile - F/39 likes to bake, owns her own property outright. Height... weight... do you really care? I have a house and a car.
M/45 like eating baked goods, does not have a property, height/weight - what's that?
Can you use a BBQ?
BBQ is my specialty, both the traditional Aussie way and the slow cooked American way.
Sold!
Yay, why can't life be this easy all the time?
> BBQ is my specialty (read in Obiwan Kenobi's voice)
This could really change the OLD market really. Our only options are to find someone who is older, bought property young, inherited/help from family to purchase, or die homeless/attempting to rent.
RIP to your inbox 😂
Men have seemingly never really given much of a shit about how much potential dates make, but i kinda wonder if that might change. Like choosing a lawyer over a teacher for no other reason than the idea of possibly buying a house one day being more realistic that way.
I married a lawyer. I am still getting screwed from the divorce. Marry a doctor instead.
That's long been a thing for hobosexuals in the middle age bracket. A nurse or a purse is real.
Probably won't work out too well for them, as a higher proportion of women go into 'caring' careers, which don't historically pay well.
More women than men graduate with law degrees.
i mean women often desire types of men who are definitely in the minority. It would be an unreasonable expectation for people, but its not like that ever stopped anyone.
43 ill hug u both
>As a 37 year old with no kids and no property I've felt alienated by Australian economic policies my whole adult life. As a 42 year old with kids but no property I've felt alienated by Australian economic policies my whole adult life. I have seen government assets being sold off and the profits being used to justify tax cuts to the top end of town, I've seen policies passed which made bank for the lucky few who had the capital to capitalise on it, I've seen policies passed which set our housing market on fire which we are still seeing the effects of today and I have seen policies passed which shit all over those who don't have as much as everyone else. Well, the chickens are coming home to roust in droves and it remains to be seen whether we slide into a US style economy with the massive divide between the haves and have nots or if we will fix our slide and end up with a economy that helps everyone out regardless of how much money they make.
hate to be a doomer and i hope it doesnt go that way. but ending up like the US really feels like the direction we’re going. the gap is expanding.
I have been thinking that lately, and also don't want to think like that... One country I really don't want Australia to emulate for many reasons is the USA.
Shit I'm in the USA and it's not worth emulating
Yes but the one country all of our politicians really do want to emulate is USA. It would be so much more profitable for them. ie they have every incentive to make us USA lite and no incentive to not.
I’m 49. And gave up over a decade ago on government policies actually benefiting anyone not a boomer. And it’s always been all about them….. …. You can pretty much map that bunch as they aged through their work lives: 80’s - Go,go, go! Capitalism rules! Sell off everything! Housing is cheap!! Welfare is for bums! 90’s - Now we have houses we need better ways to get more! Negative gearing!! Woohoo!! And universities cost to much! Privatise them to! We already got our free degrees! 2000’s - Now we need more super!! Lets get that sorted! Up and up we goooo! And all that money going to waste on social housing. Pah! Lets get them sold to get bigger investment portfolios!! 2010’s - Eh what’s this? Why are you lot wingeing! Just work hard and you too can be like us! What? Tertiary education is expensive? Nah. Just pull yourselves up by your bootstraps! 2020’s - well didn’t we do well. The whole country should he congratulating us on a job well done!
The exact same individual who was a free love flower child became a selfish cashed-up NIMBY boomer. A wild ride of a life.
Can't wait for 2030's where we get to pay a special levy for their medicare.
>chickens are coming home to roust in droves and it remains to be seen whether we slide into a US style economy I've always said shit in the streets of wealthy people. Why should they not be affected by the pains & suffering of others (homelessness)? They think they can buy their way out of it in their expensive suburbs? Move in. Make it known what's happened. Maybe then they'll develop some empathy. PS. We're well on our way to becoming the US. Look at the UK as well. Mass immigration does a country no good, except to benefit those who want to escape the mire. Don't let them. Escape I mean. They shouldn't get away with it.
Mid 40s Same situation. I'm so very glad I don't have kids or it would be even worse.
Seriously. I never bought into the OMG BUY HOUSES. My parents went on and on and I guess I never cared and was like I’ll be fine and never really thought about it and now. Fuck. It’s way too late… This entire country is just mad. We seem to produce absolutely nothing.. except rocks and shitty houses? That’s what we’ve built everything around? I’ve always been optimistic… but I’m starting to get a bit down because it’s just everyone just screwing each other… definitely doesn’t help that so many people I grew up with have bought in the last decade… ALL of them with external assistance (parents/grandparents/married in)… just rough..
Ugh, and the media constantly reporting 'look at this youngster who bought a house and paid it off in 4 years', with the crux being that mum and dad bought it for them and they moved back in with mum and dad and rented it out. Those of us with poor/dead/deadbeat parents can go get fucked apparently.
Intergenerational povertyo7987iq2dcvc
>Mentioned to my mum today that I would love to see how much better off things would be if we had Shorten's plan from 2019 in place for a few years now. She, in 2023, knew nothing of Bill Shorten even having a housing plan. This is why we can't have nice things. Me too, fucked around working in the music industry for years chasing a passion. By the time that was done I had missed the boat and look back now at them hassling me to buy and realise how stupid I was. Oh well, so much for providing fun, entertainment and enjoyment for others, I screwed myself in the process.
Yep, I feel this.
How do you rate your early career economic crisis compared to the current economic crisis? If you had to choose between these crises, which one would you play again? Also, what is your favourite way to cook rice and beans? 42 or so here.
It feels like I had more free time and free money when I was 20 and earning like 40k.
So much this - my partner and I earn more than TWICE as much as we did say 10 years ago but nothing to show (41 here)
Rice and beans are best in the instapot for me (Disabled so shit for energy lol). I grab a tin of refried beans, tin of 4 bean mix, tin of tomatoes, just all in with a cup of stock (usually chicken). Add your spices. Chicken in too if you can afford some. Steam frozen veggies in the top of a cheapie Kmart rice cooker when you cook your rice. Will feed me for like 4-5 days. Eat with some corn chips or on some tortillas if you need some cheap variety (tortillas freeze really well, I double bag in the big ziplocs ).
Yes most European parties would shit all over Australia, esp the Labor Party for trying to be best friends with the conservitwats.
Not just European parties - somehow most of Asia has ALSO done better with inflation. Jokowi in Indonesia set price caps and minimum wage rises, for instance. We're not the laughing stock of the developed world. We're the laughing stock of the world full-stop.
I've been so disappointed in Albo. Thought I'd voted for a man who understood what it was to be poor and would try and protect the lower end of society, but he's got his and it's changed him. Apparently protecting renters from being gouged would be akin to 'nationalising housing'.
And what would be the problem with nationalising housing anyway?
>Thought I'd voted for a man who understood what it was to be poor and would try and protect the lower end of society I'm disgusted with the way Albanese leveraged his background of growing up in public housing with a single mother to get the vote of lower income Australians, only to completely fk us over. I heard the other day he has 5 investment properties. I'm ready to burn this whole shitty corrupt system down to the ground, who's with me?
From someone dissatisfied with albo to another, do try remember just how much shit needs to be put back in place after the liberals are in. I'm sick of it all but I'd hate them out before they are even positioned to succeed or fail us
Mentioned to my mum today that I would love to see how much better off things would be if we had Shorten's plan from 2019 in place for a few years now. She, in 2023, knew nothing of Bill Shorten even having a housing plan. This is why we can't have nice things.
Nahh, they immediately threw all poor people under the bus by refusing to raise starvation welfare. Half of all Indigenous people in this country rely on some kind of welfare and then the ALP kicked them all in the face, and turned around to present the Voice. Deeply cynical.
True.
We get less corruption and dysfunction under Labor, but the policies are basically the same
Of the policies that could be implemented as progressive, we can divide them into: 1. social issues that broadly don’t require compromise or any funding and 2. Economic policies that require funding or have a negative effect on the richest via taxation etc. therefore compromise with some demographic. We always get the easy category 1 because it is perceived as left leaning whilst costing nothing. I don’t hate minorities that are disadvantaged or awareness campaigns, but the category 2 just magically never appears. CoL, wages, and housing and GP bulk billing and teacher shortages and all the stuff that costs money is barely up for discussion. Or the cross bench has to force it. I didn’t vote to watch a policy themed theatre show
Ok, don't know when government stopped being expected to steer the ship in a sustainable direction and started being a collection of risk averse can-kickers
When Newscorp started crucifying the public image of anyone slightly progressive.
And Labour are deathly afraid that if they piss off of the people who were voting Libs this past decade, they'll get voted out immediately next election. The public has proven through their voting history that they do not want cost of living fixes.
Pretty much. Labor RAN a bold campaign in 2019. Voters kicked them in the teeth for it. Their caution is annoying, but we can’t pretend there aren’t reasons for it. Voters have shown they don’t like big bold promises for change, no matter what they tell opinion pollsters. They don’t actually vote for them.
It's annoying but I guess I'm so brow beaten that I'm content enough to wait to see what they do with a second term if they get it. A third term Labour would be wild to see. Can't pretend that they're not doing shit currently, even if the shit they're doing isn't far enough reaching for my likes.
Unless someone manages to do in 3 years what nobody’s done in 30 and get the Greens vote from about 12% to 25% where they might be a viable governing party on percentage of votes, then Labor’s pretty much the only governing party capable of offering anything for progressives, as sad as that is. It’s all very well to say vote for someone else, but at the end of the day there’s only a couple of parties that have anywhere near enough votes to actually change the country. I’m not in it to protest vote, we need to win for shit to start getting better, and the stakes are too high to fuck around. Totally get your frustration and re: beaten down though. I really regret Labor losing in 2019, because I knew they’d run scared and go small target next time (for context, the Libs did the same thing in 1996 after they lost to Keating in 1993 when they thought they would win because they had big changes proposed that scared the crap out of people. Then Howard came along and pretended to be Mr Nice Guy, which is how the snake slithered in in 96 when people were sick of Keating. This isn’t just a Labor thing, it’s a “politicians want to win elections” But yes, some changes happening which are good. Further and faster would be better, but saying it’s nothing is just factually not true.
I very much doubt Labor will get majority government next term. They barely got it this term. With all this approving coal and has mines they are going to lose seats heavily to the greens and independents next election.
Agreed. He is just the PM and there's a lot of be unfucked across multiple years. The reps and senators, are running their own agendas, and the Secretaries of departments may not have changed yet. And everyone down to the el2 level is mostly looking out for their own skin.
All that he'd need to do to protect the little man is implement rent protections and profit-to-production caps for bread. That's really all he'd need to do to walk out of the Lodge as the most well-recieved PM since Bob Hawke. Yet he won't even do that - I'm with you on the disappointment
precisely
It didn't 'change' him, he's always been the kind of man to use his dead mother as a tool to emotionally manipulate the vulnerable.
You know Albo has a decent size property portfolio right? About 5 million worth from memory over 5 properties. I’m not one to shit all over success, like, good on him, no one can say he hasn’t worked hard in his chosen profession. But don’t expect someone with a 5 million property portfolio to be on the side of renters. As a general rule, expect people to always act in their own self interest and you’ll rarely be disappointed. The corollary to this is that the system needs to be set up in such a way that the welfare of the decision makers is directly tied to the welfare of the common man. I can’t name a single government on the planet who have accomplished such a system. There have been a few special individuals who chose to lead this way, but they are the exception, not the norm, and we are foolish if we expect most people to behave like that.
I just want to see renters more fairly represented in Parliament. Maybe they could carve out 25% of seats for non-property owners
Australia, the world's arse end down under. I'm glad Antartica is still frozen or we'd have ruined it by now.
You're not seeing the long game - that's why we refuse to move away from coal. The Great Aussie Ploy is to melt the entire antarctic so we can go put shitty low density houses and 400 more Colesworth locations on it
This has been the norm for as long as I remember, we battled through the GFC, to COVID, to this... I honestly lost count of "once in a generation economic hardships" the libs told us was once in a blue moon...
Early 40s, no kids, work full time in private sector. Our role is to fund the rest of Australia with our taxes. Not against taxes, I know it is a requirement for a functioning society but yeah, not really feeling included in any policies. Not rich enough or poor enough.
Same, since k-rudd at least.
Sending whole big bunches of 'me too's' :( 42 FT worker
Maybe one day I'll be apart of a "working family"
Working single people don't count apparently.
Just 3 years older, and same boat man
You'd be feeling more pain if you had kids.
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Also, while the ABS measures inflation on a 12-month horizon, Australians are certainly not so limited as to when they put down their mental anchors. Like, I remember when my yoghurt cost $5. It now costs $6.50. To me, it's up 30%. Now, that is probably an early 2020 price, so the 30% increase is over 3 years, and it matches neatly to measured dairy price inflation of 9% per annum or so. But I still feel fucking cross about it! And even when inflation is back at its normal rate of 2-3% my yoghurt won't go back down in price. In fact it will probably go up again to $6.70, which will be a modest two-to-three-percent increase but will make my blood boil !
It actually might depend on the product. Fruit and Veggies have actually gone down in price compared to last year. My theory is that it's because it's just farmers and stuff, there is no "branded" veggies like there is for yoghurt where the companies making the yoghurt also take a profit there.
Fewer inputs = less exposure to inflation. A lot more goes into making a packaged, processed product. Much higher chance that your costs increase compared to something with fewer steps to make it.
>Also, while the ABS measures inflation Something's just occurred to me. It's not inflation that's the problem, it's that our economy is not growing enough for our wages to rise to pay for increased goods. Inflation is the way the govt masks what it hasn't done, which is to encourage a thriving economy.
> inflation is in retreat Unless it’s negative (i.e. deflation) a smaller inflation doesn’t mean “things are getting cheaper”, it means “things are still getting more expensive but a bit slower”
You're fucking dreaming if you think prices will go back down. This is what stuff costs now at minimum. The older I get the more I realize that "economic policy" in australia is property. Funnel as much into property as you can. Hinge the entire nations economic prosperity on it. When citizens can't afford it any more, bring in an unsustainable amount of internationals to keep the party going. Politicians don't care. They all do it. None of them will be in power by the time it collapses, and the ones that are will just claim it was unsalvageable situation left to them by their predecessors. There's no accountability ever they all just lie. I don't care who you are, what side of the politican spectrum you're on, or who you vote for. Every single person in parliament is just there to rape and pillage and none of them have any morals aside from making you outraged at others. They're all complicit because none of them speak out about what is happening. Even progressives. Nobody gives a shit, they all just want their time. Short of some kind of revolution, this will keep going. There's no consequences for anything and no accountability. Who do you think is attracted to that? Sociopaths. We're all fucked.
To paraphrase the words of Richard Dennis from the Australia Institute Why do we even talk about this as being an economical issue? None (or few) of us here are economists. Why have we been trained to talk about it this way? Isn't it a democratic issue? What if the original post was reworded to something like 'I'm an X year old Australian and I feel alienated by the way the Australian government treats people'? Fuck talking about the economy. Politicians have been treating everyday Australian's like shit for too fucking long and I'm sick of it! Start treating the planet the right fucking way and looking after the people who fucking need looking after! I don't want to hear about inflation, employment, taxes and profits. I want to hear about WHAT IS THE RIGHT WAY TO TREAT PEOPLE and why do these fucks get away with hurting so many?
It is funny, because Australia’s history shows that the best economic choices are the ones that help Australians the most. The pollies who got their free uni who were raised in good quality, stable, public housing reaped the rewards (thanks Gough, shame about the CIA…) But they don’t even care about a functioning economy, all they want is more property for their retirements and to be re-elected… and given the last election was largely won by labor saying they will “fix” the debt, well, shit is not changing any time soon.
The system is working as designed. Even the PM is a landlord with like 7 properties. The housing fund, while admirable, is a drop in the bucket honestly. They don't want us owning things. They want us to be plantation workers on THEIR plantation. We're very close to that now, for the majority of working people. Our freedoms are eroded away slowly behind our back. Want to buy a house? Sure, you can get one out in Woop-woop, I hear the weather is great, it hardly ever rains! Oh, you want something close to where all the jobs are? Well you can still get it, just have to do a 2 hour commute each way every day and still show up for work on time because capitalism. Oh you don't like the stress? You're just another bludger!
>They don't want us owning things Spot on. It's been a plan in the making for years.
>properties. The housing fund, while admirable, is a drop in the bucket honestly. > >They don't want us owning things. They want us to be plantation workers on THEIR plantation. We're very close to that now, for the majority of working people. Our freedoms are eroded away slowly behind our back. Want to buy a house? Sure, you can get one out in Woop-woop, I hear the weather is great, it hardly ever rains! Oh, you want something close to where all the jobs are? Well you can still get it, just have to do a 2 hour commute each way every day and still show up for work on time because capitalism. > >Oh you don't like the stress? You're just another bludger! Straight from the start. Capitalism's end game was *always* economic feudalism. We either bow down to our new kings, or Pull A France.
>They don't want us owning things. They want us to be plantation workers on THEIR plantation. Capitalism is just feudalism by a different name. With less leisure time than actual peasants had
We are plantation workers, most people haven't figured it out yet
Oui oui
> Even progressives I mean, it’s basically all the Greens talk about
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Yep, these increased costs of living ain't going nowhere!! This IS the new norm. The dream of a non stressful, own a home and affording hobbies life is fucking over.
You really want to screw them back, vote Greens.
> Every single person in parliament is just there to rape and pillage and none of them have any morals aside from making you outraged at others. I do not agree with this. There are multiple members of Parliament who appear to genuinely care with policies and ideals to match. The three largest parties by vote share have policies and ideals which reduce the quality of life for Australian citizens. While we as a country continue to vote for these parties this will likely continue. > They're all complicit because none of them speak out about what is happening. This is not true. Look past the three largest parties.
> This is not true. Look past the three largest parties. OK, so I looked past the ALP, with their 78 lower house members. Then I looked past the Liberal Party, with their 26 lower house members. Then I looked past the Liberal National Party of Queensland, with their 21 lower house members. And now that I've looked past the three largest parties, next is the National party. They don't seem much better than 2nd and 3rd largest? Unless you were simplifying things and splitting the LNP(Q) between Liberal and National based on which party room they sit in? Cause yeah, in that case I think 4th (after Labor, Liberal and National) has some decent points.
No more than I did when I was harassed for robodebt for 4 years
At this point I feel like it doesn't matter if the man on TV has a red tie or a blue tie, you're going to see more sawdust being put into the bread over time.
I don't agree with that. Labour may be ineffectual, but scomo, Dutton and the liberal party are supremicist freaks who would grind the lower classes into dust if they weren't so inept. All while praising Jesus. Fuck that. I'll take Labour any day over that
Yeah we went from DAILY corruption scandals. For YEARS on end. To people actually arguing about policies. its such a relief, I think people forget just how much liberals got into absolutely rorting the system
A boot stomping on the human face forever
Fuck you and your downvotes.
Well, they do say "write what you know".
The CIA's favorite "socialist", he was good at coining pithy phrases though.
The irony of the capitalist system he propagandised for providing the eternal boot is lost on most people. A rapist, a snitch, a racist, and a cop walk into a bar. The bartender says "what are you having today, Mr Orwell?"
[https://www.investopedia.com/k-shaped-recovery-5080086#:\~:text=our%20editorial%20policies-,What%20Is%20a%20K%2DShaped%20Recovery%3F,industries%2C%20or%20groups%20of%20people](https://www.investopedia.com/k-shaped-recovery-5080086#:~:text=our%20editorial%20policies-,What%20Is%20a%20K%2DShaped%20Recovery%3F,industries%2C%20or%20groups%20of%20people). See K shaped recovery. Government should be increasing taxes on capital through Tax reforms (CGT reform and land taxes) , and doing cuts to personal tax rates and increasing welfare (rent assistance and Jobseeker).
>We're all getting f\*cked and the government is telling us to be thankful for the opportunity because there is nothing they can do. Yep. It is like with housing. Philip Lowe was out there telling young people to give up on the dream of living in their own place, and instead move into a share house or back home. In other words a massive backsliding in quality of life for this generation. Labor refuses to do anything about the rental crisis, because it would make "the problem worse". They are building houses, but at a rate that they will never actually see any impact in the market. Your life will be worse than that of your parents. And there is apparently NOTHING that can be done. You will happily live in a share home in your 30's, with an insecure gig economy job and little savings for the future, while you spend most of your income on food, rent and essentials. And the only solution the government has is "growth" which is mostly driven by immigration that causes all of the above to be worse and worse over time. They fiddle around the edges because they don't want to piss off those who already have theirs....including themselves. We need significant change. We need to say "no more!"
Generation Z is the first generation in Australia in many, many decades to have a worse quality of life outlook than the previous generation. But it's cool, we have lots of pokies and billionaires now so we're good.
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Yes this is so disheartening. The bank is waving their high interest savings account option at me. I can't regularly add to savings with the increased mortgage so that's useless! I'd give this win to the renters but maybe they aren't rolling in spare cash to really benefit from cash savings interest with rent sky-rocketing either.
Bro. Liberals cut corporate tax rate from 30% to 25%. one of the reasons was to keep prices down. "if we increase taxes it will push prices up , if we cut taxes it will push prices down" that complete horseshit line. That and housing annoys me ,labor campgained on removing negative gearing in the last last election with Shorten but they liberals mucked that idea. so that wont happen anytime soon. People need to vote more progressive parties,even on a state level.
This. We get what we vote for. Labor proved you can't win an election with "progressive" policies like removing negative gearing. So they shifted their housing policy closer to the centre. If we want progressive policies, we need to vote for it.
my idea is to force housing issue on the Nationals electorates. Once investors see the cost benifit ratio is better for regional areas and there is a housing crises there. I want nats to propose to remove negative gearing. It would be the dumbest 3d chess move but its the only want i see if it being removed.
We should also be 10 years into being the industry leader for EVs but no, the boomers wanted to keep their franking credits and drag the whole country down with them
Oh, we could have been like Norway with a trillion dollar sovereign wealth fund and 97% EV take up but the m_o_r_o_n_s who voted LNP scotched that.
>Liberals cut corporate tax rate from 30% to 25% *The full company tax rate is 30% and the lower company tax rate is 27.5%. From the 2017–2018 income year, your business is eligible for the lower rate if it’s a base rate entity.* *A base rate entity is a company that both:* *has an aggregated turnover less than $50 million from 2018–2019 ($25 million for 2017 –2018* *80% or less of your assessable income is base rate entity passive income (for example interest, dividends or rent* *The lower company tax rate and eligibility requirements have changed in recent years. Check out the ATO website to learn more about the changes to company tax rates.*
> full company tax rate is 30% HERE IS THE FULL SITE https://www.ato.gov.au/Rates/Changes-to-company-tax-rates/#:\~:text=The%20full%20company%20tax%20rate%20of%2030%25%20applies%20to%20all,18%20income%20year%20and%20onwards.
Facts? That’s a downvoting’
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You have it the other way around, because the RBA failed to increase interest rates inflation will keep rising and the Aussie dollar will fall which means petrol prices will go up. That and the war in Ukraine also isn't helping.
alienated but not really confused, economic policy is set to benefit the already rich and corporations not normal people.
As long as our economy & government policies are based solely around "line must always go up", nothing is going to change. They will gladly sacrifice the quality of life of average Aussies if it makes sure "line goes up" even just a little more.
The shareholders were promised Growth! It is our duty to ensure that we make good on that promise at all costs. It is only through our love for consumption that we can achieve the miracle of unlimited growth on our limited mortal plane. Praise to our Lord Supply Side Jesus! Amen.
Corporate psychopathy. As long as we made a profit, who cares if it came at the cost of crushing the poor and trashing the planet?
Yeah I feel like the world hates my generation (Y) and onwards. Got 100k in savings and still can only buy a tissue box in the city, or a cheek-by-jowl kennel 2 hours away from where I work. Make a little cash each year from meager investment in shares (that constantly tumble as people with capital move it to property investment), honestly report my earnings and get gouged with a bill every year, all the while reading how my landlord is probably depreciating the property I pay 10% more for year on year and paying zero tax. Every year the budget gives more relief for owners, subsidised solar panels, etc. While as a renter I can put up a painting if I want and that's a 'win'. For a short while during COVID I felt valuable as a person as less migration meant that I got calls back when I applied for a job. Applied for literally a hundred or so with more experience and asking for less money lately and get very few calls back, emails from SEEK telling me hundreds of others applied. Australia rewards dishonesty, selfishness, and dangerously overleveraging your financial situation. I'm very fortunate to live a comfortable life, but it'll never be a secure life.
>during COVID I felt valuable as a person as less migration meant that I got calls back when I applied for a job I have been superseded in my industry because immigrants have flooded my industry. Pisses me off when I turn up for a shift with someone who can barely speak English and is only there for the penalty rates. Fucked up. I'm on the verge of wanting to live out of a van because I am so disgusted by society and can barely accept the way we sell our souls for a "roof" and material possessions.
It's not a cost of living crisis. It's a super profits crisis. Banks, utilities, the big supermarkets, are laughing all the way to their shareholders or boards, and we are paying for it. The lower AUD doesn't help either for things like fuel.
To be fair it’s not just the government fucking is, it’s banks and big businesses too…
Banks and big businesses BEING ALLOWED to fuck us.
This thread is too real for my depressed brain.
As a single childless adult on minimum wage? Not more than any other year.
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Not really? I dont grocery shop much. My meals are very simple when I do cook and I don't eat red meat. Im also the sort who can and will eat the same thing every day so i cook up a big batch of whatever and vegtables and eat that for the next 3 days. I share a house so those bills are split. Also todays economic policy now and the state of the economy today are not as closely related as people think- economic policy decided today is applied in 6 months time and affects the economy 3-5 years down the line.
Very similar position to myself, it's degrading.
Woolworths and Coles have refused to pay RAFFWU members living wages, deliver safer workplaces and guarantee secure jobs. Our response is a National strike of supermarket workers, - a #superstrike - at 10am on Saturday 7 November 2023 for 2 hours. Woolworths and Coles workers can join RAFFWU and appoint them as their bargaining representative, and then join our action. More soon www.RAFFWU.org.au/join #fightbackwithraffwu #livingwageforall #standupfightback #standupfightback
>Our response is a National strike of supermarket workers, Good work, well done.
Im 53 (Gen X), have a mortgage and school aged kids. I dont remember a time when economic policy was in my favor? The only thing coming up that would give me a financial boost is Stage 3 tax cuts because I earn low six figures but if that isn't the definition of blood money I dont know what is. Theoretically I could give the tax cut money to a charity but I have two kids so Im going to put it in their savings accounts. So the only light at the end of the tunnel is ridiculous tax cuts that should never have seen the light of day. As for Colesworth we have stopped shopping there unless we have no choice. We order meat and fruit/veg on line from farmer sites. The best example I give to show how fucked our economy is currently is we installed solar panels 2 yrs ago and halved our electricity bill, electricity has gone up so much that our latest bill was higher then the bills we had before installing the solar panel (solar set up working perfectly, god knows what the bill would be without the solar).......and why? Why has electricity prices basically doubled considering we have enough coal and gas to service multiple countries?
Here's the thing about inflation. If something goes from $10 to $20 it's 100% inflation. If the following quarter it stays at $20 (still double from previous) then inflation is zero. We then crow about inflation 'reducing' but the price is still double what it was.
Welcome to adult life, you're always getting fucked by someone. Just not always by who you would like.
It’s really unfair that meat prices are still sky high at the supermarket. Farmers are receiving absolute rock bottom prices for lamb and beef, and have been since February this year. It’s at the stage where I have heard of farmers sending their sheep to market, and it’s not even covering the transport bill or associated costs of selling. That’s the point people will start to shoot their animals. And there is the garbage we are spun that it takes a while for prices to go down in the supermarket as the supply chain moves through the prices. I call bullshit on that. At this point it’s just profiteering and gouging by the supermarkets. It would make such a difference if meat prices were lowered. Not just for the economy, but for overall health of our population. With a well fed population we can be more productive and efficient. I see the government as sitting on its hands at the moment, not even looking to try to find and supply export markets. For some reason they won’t supply the US our excess meat even though they are in a shortage there right now. Completely useless government officials and bodies which serve no one but themselves. It’s like this in every single industry in this country. Fire up the guillotine as no one is getting ahead the way it is now.
The bonus with firing up the guillotine is you get all this extra meat.
A guy in his 60s had a meltdown in Kalgoorlie a few months ago in relation to rents and evictions. He went to the Re office during daylight, splashed accelerant all over the place while telling everyone to get out. Lit it up. Walked out sat on the sidewalk and waited for the police. He is now doing a stint in jail. But my point is, this type of pushback will be happening more and Australia is 30seconds from full scale meltdowns.
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Once they get away with price gouging they WILL NEVER LOWER THE PRICES AGAIN.
counterpoint: Supermarket pricing wars of 2014-2018. One-dollar milk. Down Down. Aldi eating their lunch. Bunnings talking about low prices and meaning it. at different points in the economic cycle comapnies do different things. Now is a price hiking time. but not always.
Ah yes my favourite part of the economic “cycle”: cartels and near-monopolies doing loss leaders real big and increasing market share. Boy I can’t wait til they do that again and I can acquire select products for a lower price whilst maintaining my overall spend! They’ll definitely do it again, too. Everyone knows you have to fight hard to keep your market share (by offering discounts to us, of course!) in duopolies and monopolies with exorbitant cost of market entry.
I’m going to marry a goomer (geriatric boomer) and hope she leaves me in her will
***\[...\] no one is allowed to try to get enough of a pay increase to cover this gap because that would be "inflationary",*** Great little lie, this one; perpetuated by nearly every media outlet and nearly every politician. And they do it every time... * GST was introduced, which removed a sales tax of 20% on a lot of items, but added 10% GST back on (a net reduction of 10%). A huge portion of goods just went up 10%, instead. * Carbon Tax was set for 8% and never actually got charged to polluters (every single one of them got an exemption), yet prices for energy went up over 20%. They never came back down when the tax was repealed. * Cost of food was pushed up during lockdowns due to supply chain issues. These issues have largely been solved, but the prices have not come back down. * Fuel costs surged "due to the war in Ukraine", despite the fact that Australia does not run on Russian oil. Meanwhile, energy and food retail companies are posting record-breaking profits... *But yeah, sure... it's the Wagie wanting an extra $3.00 an hour that's the problem.* FFS ***\[...\] while home owners and most boomers are making bank*** I did want to call you on this one, though... Any home-owner with a mortgage is getting absolutely clobbered right now. For those fortunate enough to own a home outright (after 30 years of paying it off), record-high council rates are kicking their arse. The only ones making bank are large or hedge-fund-owned land lords. Those who locked in long-term interest-only loans for cheap; and are still charging "market rate".
> Fuel costs surged "due to the war in Ukraine", despite the fact that Australia does not run on Russian oil. The same thing has happened with wheat prices. When operating in a global market irrespective of where we obtain goods from if there is a shortfall from another source then generally the demand for where we obtain goods from will increase which negatively impacts us.
Apart from voting - what can we do?
Organised rebellion but like they say, resistance is futile.
Keep in mind that 66% of Australians are home owners.
Welcome to capitalism.
I'm studying, have a disability, work two jobs and make a pittance. I see the rich fuckers getting tax cuts that should have gone to low income earners. I see that private schools get way more funding than state schools, further advantaging the well off. You betcha I'm feeling alienated. I have for years.
You're not alone, and we're totally being gaslit. I grit my teeth every time I hear a "journalist" refer to _house price growth_ instead of calling inflation what it is. And it's not just the commercial channels and the Murdoch press, the ABC is as guilty as anyone.
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My understanding is we pay more money to subsidize businesses that export coal and gas than we pay in international aid. We are, what, the fourth largest exporter of fossil fuels in the world? And aren't fossil fuels in a boom at the moment, experiencing massively high prices? Where is the impact that income stream should be having on people who need help, want to be artists, are single parents or just want to own their own home? Why are we unable to propagate political leaders that are seen to be acting in the interest of the people and the country's future?
>Middle Australia has to feel this extreme pain while **home owners** and most boomers **are making bank off the interest hike** ...How was I doing that, sorry? My mortgage has gone up over $1200 per month since this time last year. I'm not the one making bank here, the bank is making bank.
I think they mean home owners whose mortgages are fully paid off
There’s a high chance your asset (house) value is increasing faster than any extra interest you’re paying. It’s the long term government policy in Australia and (for example) why my parent’s home built in the 1970s recently sold for more than 30x the original cost - and this is in a rural town with a falling population and high unemployment. The same home that was able to be paid off comfortably with a single blue-collar income. Yes indeed things are very messed up.
Part of it is that capitalism rewards being a bastard, and part is that no one misunderstands economics quite like economists do.
Because I'm paid under SCHADS between the yearly increase and jumping up a subcategory after my first year that's a raise of around 7.75%. So not in pace with rental increases and barely ahead of regular inflation. I'm disabled. This is the longest I've ever had a job, I really like it, and I have no plans to leave. But it is definitely sad when it's put in perspective in terms of cost of living.
Rich people need to die. Ask The Ghost of Lenin.
Whoever is telling you that you are not allowed to try for a pay increase is full of shit. Everyone in Australia has the right to request and fight for a pay increase, especially in this economic climate. Large employers like colesworth are raking in billions and the ground floor workers are expected to just suck it up? Nope.
I feel an internal frustration building, in a way that I have never felt before. I feel hopeless, I feel resentful. I think most of us are close to rioting tbh.
Welcome to capitalist gaslighting 101!
I’m single so I always feel left out
Well yes, essentially we, and other western countries around the world are being forced to adjust to a worse standard of living
This will be an unpopular take, but the actions currently being taken by the government is textbook economic policy, and unsurprising to anyone with an understanding in [Keynesian economics](https://en.wikipedia.org/wiki/Keynesian_economics). The fact that labour is doing this is especially predictable, as they followed the same model when they were in power during the GFC. The basic idea is the government is such a large entity that spending and taxation causes massive changes in demand in the country. - If they cut taxes/raise spending, (running deficits) they will increase aggregate demand for goods/services, as people will have more money to spend, or the government is buying services through spending - If they increase taxes/cut spending (running surpluses), the opposite will occur. So the conclusion is the government should spend in the "opposite" direction as the current economic climate. This in effect smooths out the business cycle, causing smaller recessions during downturns, and less inflation during booms.: - In a recession, the government should run defect budgets to increase demand and pull the country out of the recession - In a boom, the government should run surpluses to decrease demand to reduce inflation In the GFC, the labour government ran large deficits, and avoided the country entering in a recession. Now we are in a boom period, it is unsurprising that the labour government is aiming to run large surpluses to achieve the opposite effect. In addition, many suggested solutions to inflation often have adverse effects that can work against their intended goal: - Building more public housing: increases demand for builders, increasing costs of private new houses - Rent caps: reduces the demand for housing investment and reduces the incentive for people to share houses, reducing rental supply - Rent subsidies: increase the amount people can afford to pay, resulting in bidding the price up The only policies that will work well are ones that are either decrease aggregate government spending, or leave it the same. The main two I think of here are: 1. Decrease immigration. This will reduce demand for housing, causing prices to fall 2. Increase company tax, and use the extra revenue to increase welfare and cutting lower income tax rates. This will increase inflation slightly, but will help the people most affected by the current inflation.
What would you like to see them do? Personally I think getting rid of stage 3 tax cuts would be a good start, but they’re yet not in effect so that wouldn’t change our current reality. The government has made significant changes to the RBA and are holding on to a $22B surplus in the short term as they don’t want to fuel inflation and fight against the RBA’s effort. There’s no quick domestic fix to global supply driven inflation
While the stage 3 cuts could go, I think the government should be looking at company tax. They had huge amounts of money given to them through Jobkeeper. The LNP gave companies a huge range of offsets and deductions. The new government could reduce inflation and had an unprecedented chance to simplify the tax system.
Yeah, the surplus seems entirely unnecessary.
It's a political decision more than an economic one. It's so that in the future Labor can point to this financial year and say something like "we achieved budget surplus in our first year when The Coalition couldn't for more than a decade". They're just building rhetoric.
Oh I know that, it's just a certainty that no one will give a fuck and the LNP will just spend it. It's the laziest 1990s neoliberal rhetoric to strangle Medicare and welfare into submission in order to deliver a surplus. Clinton liberalism.
And the coalition aligned media will then just go "Labor pushing battlers into poverty, LNP better economic managers". There is no rhetoric building against institutions that don't actually respect the truth. They don't care if Labor can point to a budget surplus, the point is to criticize Labor. They will make up a reason to do so. If Labor legitimately believe that the Murdoch press or conservative political groups will ever prefer them over the LNP then they need to fire their entire political strategy group. It's insane watching Labor try to appeal to a voting base that will turncoat the moment the LNP puts someone with more charisma than Morrison front and centre. It's the american democrats all over again, so busy playing political games that only they truly seem to care about. Meanwhile populism and the alt right spreads like wildfire because of the economic disenfranchisement that centre left parties don't want to bother addressing lest it makes them look bad to conservative media. The same media who will gleefully take them to the cleaners the moment they think someone like Dutton can possibly win. Like have Labor learned nothing from how the LNP runs electoral campaigns? They use disinformation and electoral grey areas to make Labor look bad. The evidence for Labor being better economic managers has been there for decades now, it has not helped. Because the media and conservative outlets don't actually care about who is realistically the best economic manager, and they probably never have. It's just a stick they use to beat Labor with, when it stops working they'll just find another one.
But if they spend it they risk adding to inflationary pressures, higher interest rates, more pain. There’s not much they can do with it in the short term. My guess is they’ll wait till inflation is under control then spend it to avoid a recession
Unless it's doubling welfare like they should have done on day 1, I'm calling it a kick in the face.
>but the price of everything has remained extremely high and will never return to 2022 levels? That would be deflation, not inflation coming down. >We're all told that no one is allowed to try to get enough of a pay increase Who said that?
>Who said that? The now former governor of the RBA during one of his speeches when they started the QT because he was really afraid of a wage-price spiral
I can't tell if this is an attempt to spread class consciousness (based off your username), or if you've just stumbled across dialectic materialism
My political self post that nobody has seen from the other day. 37yr full time employed, full time single parent of two 90k sal. I've voted labour in every election for the past 19 years. This time around after a long stint of a fiscaly ostere liberal regime, we've had Labor in government for a year and a half and I my life has not improvednat all. Leave alone inflatation which I don't place all blame on government, but, I've paid more tax this year, less deductibles for working from home. I haven't seen any policies in the pipeline to lift the low-middle income households. Am I taking crazy pills, or is identity politics taking the spotlight while wealth equity in this country continues to erode? Feeling very nihilistic about the future.
How are home owners making money off interest rate hikes? My mortgage has gone up over $1,000 a month in the past year
I think OP meant people who have paid off their mortgage.