Australia is almost ‘grinding to a halt’ with inflation
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- čas přidán 17. 06. 2024
- Sky News Business Editor Ross Greenwood says Australia is almost “grinding to a halt” due to its inflation.
“Notwithstanding the fact that the economy is barely teetering above a recession right now with the last quarter just 0.1 of a per cent - in this quarter probably negative,” he told Sky News host Steve Price.
“The reality is that you’d expect under normal circumstances the Reserve Bank would come to the rescue, start to cut interest rates and get some economic growth going - well it can’t do that right now.”
Albo the proven liar doing a fantastic job for the wef
The joy's of living under a labor government. It never changes. All they do is spend, spend, and then tax you to pay for it while blaming everyone else.
Aussies never learn
Liberals are no different, they brought over all the immigrants to keep wages lower for their corpo buddies, pick the STD to run the country that's all it is
Queensland hasn’t felt the Olympics yet. That’s a huge bill
Should I vote liberal???
Who would have thought foreign corporations would try to take every last cent?
Haha so true. People blame everything except the incompetent leaders who pander to multinationals in this country.
It’s definitely not easy under Albaneasy……. 😢😂
But...but..... renewables will save us all......Albo and Chris have promised us
Renewables indeed, SA has been reliant of gas, topped up with liquid fuels for days. Green energy ain't getting it done
@@snappingclam8801 SA is nearly double the power price as Canberra. Talk about our Government living in a bubble.
Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this
We've all made mistakes at some point. You should consider financial planning
True. My portfolio was diversified across several markets with the help of a financial planner, and were able to achieve over a million in net profit among high dividend yield equities, ETFs, and bonds. It is vital that you have a variety of exposure, including in firms that are currently generating cash flows.
Please let me know who your adviser is if it's okay; I need some recommendations
*Leah* *Foster* *Alderman*
You are most likely to find more info when you look her up
and the poorest people are hurting the most….
That’s because according to the Coalition they aren’t working hard enough…
@@kallekas8551many aren’t working hard enough
The poorest people are
Normally brain washed labor voters
Inflation?, that's only the half of it!!!
All you need to know is that while the Government is spending 40M of your tax dollars on ads telling you you're getting a 20 buck/wk tax cut, they're also spending 450 MILLION on 2 new Private Jets to fly around in.
Reckless & self indulgent spending - Cos it's Your money not theirs "Hahaha haha, in your FACE Taxpayers" - AirbusAlbo
Pretty much.
The gov doesn't raise revenue through taxes...
@@TnMZs1 "the Govt doesn't raise revenue through taxes" - statements like this, mudding the conversation and confusing the weak minded is probably one of the reasons we can't come together and demand an accountable, honest government dedicated to the betterment of the Australian people.
As per the
Australian Government Treasury - "Individuals' income tax is the single most important source of government revenue."
@@robb5642 I apologies, I'll dumb it down and rephrase. The gov doesn't need your money for them to spend - tax is used to take money out of the economy. Not to put in the gov's own pocket
@@robb5642 Anytime!
I think we’ve been in a recession for a while now, they just don’t wanna create mass panic by announcing it lol😂
At least 2 years.
@@briananderson7285 yep! Personally i feel it was when COVID started but I believe it
@taylaharvey9536 2008 the money printer started and then they kicked it into hi gear for convid, still just kicking the can .
Stagflation is on the way .
5 consecutive quarters of negative gdp per capita.-1.6% annualised😢
We were told " things won't be easily under albonese " and no one listened
Productivity is stopped by regulations…..inc. the Safety industry….
Mass immigration means more traffic congestion, that alone reduces productivity. Bean counters only see the positives of immigration through cheaper labour cost to the BCA buddies.
They are probably banking that the new upcoming emissions laws will cull a lot of that traffic from our roads. I’m betting they will be right too.
Its not Mass immigration its government giving free money migration in Australia is the lowest in History.
Indeed! I don't know how courier drivers make money anymore in Brisbane.
I'm sure tradies must be less productive also.
numbers go up is all they care about, but simply put the average has gone down it's just the total going up
The Albanese Government is a one term Federal Government. Good work Albozo 🎯💯
Government just gave themselves a pay raise😊
Never forget Australian voters have voted for labour everywhere so this is self inflicted, we are heading down the same path as Argentina, bankruptcy and corruption
True - you get what you vote for
only 32% of Australians voted Labor in the last federal election. Clearly our democracy is flawed😮
Everything has doubled in four years, therefore 100 divided by four years equals 25% inflation per year and not 4-6% on how they try to make you believe. Also minimum wage increases making sure that your situation gets worse as time goes on.
The truth is that the US Fed increased interest rates. Therefore, the Reserve Bank of Australia must also raise interest rates. However, the Reserve Bank of Australia cannot maintain interest rates at 5.5% like the Federal Reserve. So, the result is that the Australian dollar will depreciate faster than the US dollar, and the RBA will never be able to control inflation.
@@hohoho9982 yes because a huge chunk of our debt are variable mortgages unlike the US that have totally fixed at sub 3%. They forced us to take that ridiculous trillion dollar COVID debt, We were basically debt free. It’s all a scam. Capital vs labour
i believe the current 3.6% is a manipulated figure, it is like the soft landing...
They say 6% inflation per quarter, but they don't mention it's compounding interest. So it's 6% on the previous 6% as well.
Actual inflation is around 14 to 16 % .
Inflation isnt the problem the goverment is the problem and now they passed the biggest payrise ever to themselves 3 payrises in 4 years!!!!
High inflation during a period of recession causes stagflation.
Labor has the answer, if only they knew the question.
All the top labor leaders have never run a business let alone an economy
They are full of bizarre delusional ideation which is economically destructive.
Another good reason to vote One Nation.
Good thing economies don't work the same way businesses do...
Crazy. The goons think they’re in a mud bath. And they don’t care, they’re safe from prosecution. Goons.
One more interest rate rise and Australia will be in recession and no amount of artificial population growth will stop it.
But won't they cut rates 🤔 to keep the illusion though and just inflate away the promblem
@@adiintel1 the RBA is not the government. They are only interested in economic stability allegedly. They are not elected so there is apparently no political agenda behind their decisions.
It's already a recession it's simply being masked! Hidden well!
Cheap public transport is actually a good idea as it reduces traffic congestion, which reduces the need to build more roads and increases productivity through trucks being able to get to their destination quicker. Also it would improve emissions with less vehicles on the road.
I remember only a few ago Ross was praising AnAl and Jim for delivering Back to Back Surpluses the stupid W⚓️🤦♂️😂😂😂
The inmates are in charge…
Marxists
Well this is a penal colony so what else would you expect 😉.
Incredible considering the stamp duty collected in NSW must be at record levels due to the record property prices.
At least Ubers are cheap
Ross Greenwood looks like he's about to have a cardiac arrest.
I can’t listen to him … 🤡😵😱
Big companies constantly jacking up prices. Record profits. We need buyer resistence.
Yes corporate bullies! On individual citizens they know ppl can't fight back! Totally fucked!
Daniel’s was awarded an AC for ruining Victoria.
Are the rba issuing too many bonds? It would explain the artificially created boom in real estate.
Stay in power? He should pray the public dont turn in a few weeks and come for his legs mate.
We should be mindful that 3% used to be an 'emergency' rate once. 4.35% is pretty normal.
Inflation isn't coming down anymore. FACT - our money is worth less end of story. Time to accept it. Inflation is going to stay. People might have jobs but they are sick of working for nothing. Tax the gas companies and mining companies more royalties....
1970 all over again. 1970s The general theme is that rates were hiked north of 20% to break the back of inflation.
Albo doesn’t care about pensioners
Albo doesn't care about the most vulnerable. People are falling further and further behind... this is a decision by the government that they could fix at any time if they choose to
The govt doesn't care about anyone. What fantasy land are you living in that made you think they give a flying f about anything or anyone?
It’s good news for the debt free 🍻
Ahh yes finally they're admitting we're in stagflation.
The bane of modern monetary theorists. It's almost as if their entire epistemology is based on a lie.
Australia has actually grind to a halt because of Super high Interest rate, and too Much Free money given to consumer.
HOW IS DE COUPLING FROM CHINESE MONEY WORKING OUT FOR YOU
With 3 of our cities on the world’s most expensive housing lists, it’s not looking good!
Australia is a Failed Society 😢
You can always tell when a country is corrupt, the country is a parliamentary democracy.
If it gets bad enough people will find a different medium of exchange, wouldn’t be the first time.
Don't you mean the death of labor by a thousand cuts
If you see off peak price on your energy bill double how is that lowering our electricity bills?
Who was the rba guy who recently had to resign,??this new rba lot are politically pressured and interest rates will be higher and longer.than necessary.
We are stuffed. Argentina here we come.
Decades of greed more like it. So many businesses getting bigger and bigger due to having leverage over "difficult times". It's a blatant cash grab and not the nature of Australians or a cultural fit - it's those with no conscience and selfishness and greed whose only motivation is to get more from anyone, doesn't matter who.
People working but still homeless👀
RBA, what a bunch of clown's
They are paid to what, exactly?
Both States and Federal spending is to sway votes. This should stop and politicians think about the toll inflation is taking on its citizens. Many families are on the edge of insolvency with mortgage rates and the cost of living. This week my electric company has given notice of higher rates and also my data provider. It’s a daily occurrence in supermarkets too.
Crazy how everyone seems to think if we get rid of Albanese everything will change for the better 😂😂😂
You people are deluded.
They all bat for the same team no matter who you vote for
NO CHINESE MONEY TO SAVE YOU
spending is good, need redistribute to the consumers, otherwise economy will stop 😅
A CLOWN FROM THE START.!!!
Does the rba even know what their doing.... the biggest issue is interest rates and housing... it's pushed everything up in price
So reduce rates and watch property and rents run to the moon?
ABC Australia news, I read on line yesterday had 2 very great suggestions on ways to beat inflation. Like every thing good (no great sensationalism in this) no other news service will pick up and run with these ideas.
And this program, throw as much negative sh*t hoping some will stick. Why don't you suggest methods to repair this so broken system.
WHAT WERE THE 2 GREAT IDEAS??? No one watches the ABC anymore. They are too biased for anyone. One good idea is to get rid of the Labor Party, now.
AUSTRALIA EXPENSIVE MUFF
Bye Labor 👋
sorry but eggbeaters hairstyle is distracting me.
Stop whining.. everything is fine 😅
Sky paid cash for comment propaganda