Without government spending the economy will go to recession , Higher interest rates by RBA the main reason for higher inflation because it is pushed the rent higher and cost of doing business up , without RBA reducing the interest rates the inflation will go higher RBA is out of touch , they are academic with no experience how the real economy is managing .
@@Joe317-e2c you have no idea. It is the complete opposite to your ideology. Interest rates didn’t push rents up - it is lack of supply that pushed rents up. Vacancy rates are some of the lowest they have ever been, below 1%. That is a result of demand from increasing population size aka immigration fast then houses can be built. In Victoria there is increased land tax for investors, so they are all selling their investment properties, this then creates less properties affordable housing to be rented to tenants and now creates even more shortages/less supply of rental properties. They have f’d the whole system. Government spending puts more money into the economy, then people have more money to spend so they spend it, and it creates demand inflation. Raising interest rates slows business investment/growth and also reduces home owners with mortgages disposable income which slows the economy. Its working! Maybe you should read up on some economics. You are probably a labour or greens voter cos you clearly have no idea.
Corporations set their prices which have been driving inflation, which has benefited these corporations via record profits. However they are not being blamed except for supermarkets.
what she was also saying was work harder .... and spend less by consuming less ... sorry that is nonsense ... and it is typical of people in JOBS to say that drivel ... the reality is .. last few days especially i have been buying the dip on stockmarkets / crypto etc... i have made a ton on stocks and also crypto ... no information in what she stated on how to invest which is the real truth of keeping up with INFLATION if you believe that is good advice you are delusional
@@iamasmurf1122 Investing in non-regulated assets such as Crypto are worthless. Learn to spend within your means and invest in your skills to make money
i understand the sentiment, but in reality you're just handing labor another term. there is only one way to get rid of this government, and that is to put lnp 1st!!
It's absolutely disgusting, people are being forced to sell and they have no where to go, house prices probably aren't going to go down either because they're just going to be bought up by wealthy immigrants.
Actually, it was the Morrison government who made the decision to pump $760b into the economy during the shamdemic which caused the inflation which caused higher asset prices and costs of living.
People never learn. Everytime Labor is in power the same thing happens. Overspending which then requires a Liberal goverment to get us out of the shit.
@williambeaumont7995 especially when it's hard to say these resources belong to Australia. We'll mine it cheap and sell it to you at stock prices. Our government lacks a spine when standing up to America and the UN
To stop this insanity we need to abolish preferential voting. PM 32% would not be in office without preferential voting. All the major parties would become insignificant without anothers vote being oassed onto them. Nowhere in oir constitution is preferential voting mentioned, one man-one vote is though.
@@jolla9963 I’ve been saying this for yrs, that’s the only way most of these useless people keep a seat. It’s great to have 1 vote and be able to suck off the taxpayers tit and do absolutely nothing for it. Minimum amount of votes to keep a seat and scrap preferential voting.
With their woke policies, with false thinking that Australia is the only country that will sort the earth 's climate issues,if it goes green on everything .
That looks to be the case. Quite a reckless and irresponsible government. They at least could give Aussies a heads up when it comes to adding an extra 5-8 percent of the population. Also went hard on immigration after losing to the no vote. If you haven’t got the numbers, import them.
@uyc65cf the unfortunate part is the Federal government is spending it and we have to pay through interest rates increases 12 increases under these spenders 😔
Issues are apparent, bring in over 1000,000 extra burden immigrants, that the tax payer works to support and house. Every cost has doubled since these idiots got to drive the bus, food, rent, houses, insurance, fuel, power.
@@mikaelafox6106 umm I sort of knew but then I thought let’s give a chance once coz last 2 terms they didn’t get a chance so yeah. But from now onwards that’s it I’m done with them.
Question is , does bullock own her home or is she on 0.2% interest home loan! Either way easy to dish out words if you are on Governor,s salary... what a joke these Muppets are
I hate to be political. But how can someone on a million dollar salary tell hard working people what to do. And why cant all of these highly paid people make this right, instead of asking millions to suffer?
@@owencahill2846 i dont quite understand what you mean by “they are a business expense which is harder and harder to make money at” can you re phrase that?
I can appreciate Michelle Bullock making the frank suggestions in advising what people might have to consider, and her reluctance to comment on Treasury policy. But I think we're all past that point now, and can accept finger pointing and blame from her, i.e against Treasury. Treasury needs to be held to account for all the taxpayers that are keeping the economy's nostrils above the waterline.
Just wait till the Government realises there is a dramatic fall in tax revenue. The Government has failed to take into account the welfare bill they are going to be facing in the future thanks to inept policies as well as the fall in tax receipts quite simply because people are now poorer and once they finish their working lives, they won't be paying any tax and instead will be on full and part pensions. That would not have been the case had Governments exercised good judgement over the last four years. I did say back in 2020 that it would literally cost this country trillions and I have absolutely no need to change my stance regarding that today.
Multiple of average wages to median Sydney price virtually makes house ownership unaffordable for young people. It would take a big reduction in price or increase in wages to fix the affordability equation. We have let politicians muck this up over many terms of government.
The RBA governor is out of touch ,she should resign ASAP , she is destroying the livelihood of normal Australians . Higher inflation caused by RBA because higher borrowing costs effect everyone from higher mortgage to higher rent to higher business costs for loan so they push the price up to cover higher interest rates. Inflation will not go down unless RBA cut the interest rate
That’s not how inflation works interest rates restrict demand and money flows if the government keeps spending the RBA will keep holding or increase to offset this
Tell Albo, he's dreaming. Things are infinitely worse under this Labor Government. They haven't a clue. Everything- electricity, fuel, rent/interest on mortgages, groceries - costs more than ever.
Well, he had to find the money from somewhere for his 2 new jets he's just brought for himself. Why not the taxpayers' money? He's just helped himself to it🤷♀️
@@noladroop284Wow mate, you do realize that it's spelt Labour in the UK, our Australian standard labour is spelt with a u but the political party has dropped the u, so I would suggest that you do some research before making such comments, have a nice day
albo's exact words "the Reserve Bank undertake its work they do so independently of government" , if it's not under government control then it must be a private company or under foreign control, what the hell is going on with our money, who's controlling it, enough of this BS, time for answers.
rates cant stop inflation while our beloved govt in its infinite wisdom wastes money by billions, they do not stop this. Rates can only prevent total collapse, redistributing this wasting to everybody.
If spending is too high then stop issuing visas to temp residents and sack 25,000 public servants in Canberra and another 50,000 in the State Governments.
We need change the voting system. First past the post gets into government. Last election labor did not get majority votes needed greens votes to win power
Back in depression-era America, shanty towns of displaced and homeless people were called Hoover-villes after US president Herbert Hoover. Be prepared for the rise of the Albo-ville.
I have been saying this for years, the amounts of minerals that have come out of the ground in this country,we should be the richest country in the universe,liveing like Dubai
Remember Labor in the 90's recession when we had homes at 18% interest ..Unemployment was very high and inflation was at 11% ..People were losing their homes and businesses everywhere ..a lot of people knocked on doors looking for any sort of work I mean anything....The government did not care and kept hiking interest rates.. Most of us back then also had a second job to try and keep our homes. It was a Brutal time...Young People of today have no idea how hard it can be when the government crashes the economy .. It was a really hard tough time ..taught most of us great Survival Skills to survive on very very little..and to always keep a safe cash backup.. ...Disgusting, Disgusting government we have now, as long as they have their perks and pension payouts.. THEY DO NOT CARE ABOUT THE AUSTRALIAN PEOPLE..VOTE PAULINE HANSON ..seems to be the only person that gives a shit and cares about what happens to this country and its people..
Why we need so many migrants when economy is in bad shape ? This Labour Government has to go and Liberal has no answer either well only is One Nation capable to solve Our problem. Bring Pauline Hanson to the power and We will see how things goes !😊😊
Oh God, is it 1972 again! I remember the ad campaign for the Whitlam labour govt. "It's Time". By 1975 ,Australia was broke and Malcolm Fraser came in. Labor lite? God, nothing is better in 2024.
I'd like to know why we, the people of Australia, let a private entity, completely unaccountable, unelected, dictate all of our financial system. It's a gargantuan scam so big that nobody sees. Like people can't see the ocean because they're underwater. This fact never ceases to amaze me, just how stupid human being are and how little we actually know about the most important aspect of our lives that determines and certainly influences, everything.
