Australia’s economy ‘not behaving’ as country is ‘used to’
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- čas přidán 25. 06. 2024
- Judo Bank Chief Economic Adviser Warren Hogan says Australia’s economy is “not behaving” as the country is “used to”.
Australia’s inflation rate rose from 3.6 per cent to 4 per cent in May.
Markets are now predicting a 67 per cent chance of a rate hike in August.
“This economy is not behaving as we are used to,” Mr Hogan told Sky News Australia.
“There’s a lot of change in our economy.”
I was Paying 17.5% Interest back in 1990 Under another Useless, Incompetent 'Labor' Grubberment ! It's History
Remember it well. The Hawke/ Keating fiasco.
Fools like you are the reason why Australia is in such a mess today. Back in 1991, house prices were only 100 to 150 grand, you dunce. Not the million plus today. Paul Keating put Australia on the growth path back in 1991, but was punished for it. John Howard unleashed our current debt driven growth and Australians loved him for it. Not the discipline that Paul Keating applied to put Australia on the right path. 30 years of debt fuelled economic growth is not going to lead to eventual rate rise ? If we had used the debt to expand productive capacity we would not have this problem today. But no, house prices to the moon !
But that was with houses costing 50 bucks?
if you understood math you'd realise why that wasn't as bad as you thought it was
So was I! Labor has a lot of form in economic mismanagement.
They aren’t the worst government in Australia’s history for nothing.
you mean the liberal lock down crew? scomo hunt etc
So making banks rich and families lose their over priced houses is going to solve the problem ?????
It’ll solve inflation yes! Banks are already rich
banks dont get rich. Owned by overseas. So other nations get rich, local investors get rich. Most of the money going overseas. Australians get poorer. Our government has allowed this. They sell our rich primary resources(coal, gas, water etc for a quarter of what Australians pay) Australians should be one of the wealthiest in the world per capita. But instead we got shafted. Government, RBA, Regulators, Banks, Corporates all in together scatching each others arses and shafting the rest of the population.
Remember the RBA's Michele Bullock was Albozzo's Pick ?
Same as the GG
And the new poliitical appointment replacing a scientist fot a climste position.
The RBA itself is the problem, as are all central banks.
Jacinta Allen in Victoria putting or put a tax on rentals so the owner has to pay move tax this will get passed down to the renter.
Inflation is much higher than the government is reporting ( as we all know) and it’s going much higher, there is no coming back to 3% not unless they raise rates to 20% which will destroy the economy. The RBA is out of tools, the government is full of tools, but unfortunately none of them are of any use to the RBA. If you want to know where inflation is headed just look at the trajectory of the Australian M1 M2 & M3 money supply, the cost of goods going up is the consequence of the purchasing power of the currency going down “ why” because governments “ Inflate “ the money supply with their reckless borrowing & spending “ hence Inflation “
tools are usefull. those idiots well there is no word made to describe just how useless they are except useless.
Raise rates to 20% , everyone will be unemployed.
Government over spending also cause inflation
Raise the rates to 10%, then they are properly positive real with respect to the CPI. Boom. Not suggesting the medicine will be nice in the slightest though, but if we want to arrest this (and people never think about the cumulative effect over time, i.e., the integral, where there’s compounding taking place), then we need to actually aggressively hike.
the rba has chosen the housing market over inflation. just another captured interest at this point.
Amen to this.
If you are middle or lower class and still have money, it means inflation hasn't done its job yet. Therefore we still have longer to go.
WEF hasn't done it's job until we have nothing, eat bugs, and somehow be happy.
Actually Aussies have become too rich. Try getting a weekend in Noosa or the Gold Coast! Flipping heck, even in winter it's damn near booked out.
NOT SINCE CHINESE MONEY LEFT AUSTRALIA, PULLING OUT FROM ONE EXPENSIVE MUFF
Is this due to all Australia's capital being funneled into pushing existing housing prices higher?
The RBA is trying to lower inflation,while the government is creating demand with immigration.....the whole thing is deliberate
Australia are highjacked by Green and left activist 😂
I would say more hijacked by the property bro's.
It's all about housing.
banks
Government soending like drunken sailor's what could go wrong
We were told our economy was different but here we are part of the world economy and because the RBA was way too slow off the starting blocks, then the dog paddled, helping both the Gov and the Big4 foreign owned banks make massive profits in the Billions. While throwing ordinary Aussies under the Inflation Bus. All their fiddling with the CPI figures has killed us❗
Put rates up in twice succession and kick inflation to the kerb. We need to go through more pain, people need to stop spending.
They should have kept the original tax cuts for the few, the revised is just going to heat up the economy and keep inflation boyant.
Need to slow immigration and halt government spending.
Let’s hope Labor lose next election
Massive tax cut probably translates as 50 bucks more to spend on groceries per annum
I remember when Sky was saying that interest rates were too high.
So ?
They are too high, so what!
@@billy77511they’re not, they’re closing in on more typical. We’ve been through a heavily abnormal period of very low rates for a long period now, and so everyone thinks that’s normal. It’s not. And it means so many of us have been priced out of housing. A colossal blunder.
@@ulagatin I agree with what you say. 23 yrs ago rates were 9%. What I meant was, rates seem high as borrowing for a house now is so high. When a young couple borrows $800K at 6.25%, the repayments are a lot. But I agree, yes your right 6% ish is normal
A rate hold is as good as hike the compounding effect of higher for longer intensifies
Of course things are going to change and change in an unexpected way,
As we move from cash to digital fund transfer.
Now they have no idea who earns what and who has got their (fingers) in the pie
Australia's everything, is not behaving as we're used to.
And it's not just an ALP problem.
5:50: Yeah demand is off the scale. The Brisbane economy is absolutely rip roaring! You should see the traffic! And it's all Ford Ranger Raptors!
****the only comments section in Australia....and its sky news**** whats the world coming to
Well there is hardly any jobs hauling grain. I’m out of work. So economy doesn’t seem too resilient. You must mean waiting tables and making coffees for boomers right?
West is going down
Next week interest rates r heading down
Can the media perform a breakdown? Yes. Will they? No.
Weak as p!ss, Aust media specialist analysts!
Remove WA from all of the last 5 years and the next 5 years and RE-COMPUTE!
The Boomers deserve there retirement & if we did not spend the country would be bust!😊
Massive tax cut???