Many getting left behind as the cost of living goes up | 7.30 | ABC News 

Most politicians have made a hell of a lot of money investing in real estate, and the last thing they are going to do is take any action that will reduce the value of their investments. They don't want affordable housing, because then you're not going to have to rent their unaffordable house and they'll have to sell it for less than what they paid for it. I think it's going to take a whole new generation rising to power who was priced out of the real estate market from birth to change this shit.

Well said it's not an issue in the eyes of the larger older more politically savvy portion of the population largely for the reasons stated by StreakyBaconMan .

Or even defined as success...

Talk about it.👏🏼

@@StreakyBaconMan they took housing to the last election, it was reframed as a bad thing by Clive Palmer.

Savings what savings.

@@Terminatortx33 exactly

"Let them eat cake ..." - really out of touch with the working class.

U think? A lot of people will end up in the poor house even people that at one time we’re doing well. It’s like the only people that unfortunately will really be ok and not struggling are the truly wealthy. One word greed. Sad state of affairs

If you have savings, you are rich

@Thomas Lauren offcourse Australian economy is weak now ,can even crash in coming years 🤣

Well, the people he thinks of as poor can. It is the people below them that don't have 250$ in the bank that are hurt most.

Definitely out of touch. Maybe back in his day people were still able to keep a savings but millennials and younger have not been able to do such. The time to do a savings when you’re at home with your parents and a lot of us at that time unfortunately aren’t even thinking on that track. But that’s about the only chance we’ve got to create a savings nowadays that or to go to school and hope that we can find a career

poor people are poor because they have no savings that would make them middle class hahaha we have no savings hence the word POOR

i live in america and its the same here

It's more than going backwards, it is going down...

Going too end up in poor house doing that. This economist is definitely tone deaf

The 2 years of pandemic, obliterated my savings. Working now with half pay. How could you even expect to save money nowadays. These economists are part of the problem.

Economists are the most elitist, vapid, tone deaf, and selfish group of people We’re expected to take seriously.

Practical approach; Reduce things that get you sick (that way, you increase productivity and reduce spending on health), Spend only on necessities, Try to invest what you can and spread them locally and internationally but of course be well informed about where you want to put your money and finally, vote wisely. Made my first million this way earlier this year (got help though). Can comfortably wait out this "phase".

@@marlenaaj Amazing approach. the health part is apt... What do you mean by you got help? I could definitely use help right now... I look forward to your reply...

@@yvonne5449 Funny enough, I can honestly relate. By help, I mean I got the services of a pro "Nancy Lynn Lewis", she was in the news a lot in 2018. You can check her out online for more.

@@marlenaaj She's got a pretty decent bio and seems American. Does she work with foreigners?

@@marlenaaj This right here is the second time I am coming across this name in a week,, My colleague at work seems to feel she's some kind of God sent angel,,,

Exactly

I had savings before I started working at a hospital now I have none and live paycheck to paycheck.

I have seen it in the US too where degreed professionals like nurses, and govt workers, and corrections officers are living paycheck to paycheck and taking 2nd and 3rd jobs. It is ridiculous to think in our modern world that you have to work 50+ hrs during the week at a professional level, then weekend work and try to monitize your hobby (for me it is quilting commissions) to make ends meet and save for the next crisis.

@@dedhampster4730 there is currently a sign in town for correctional officer for $45,000, sad, they deserve more.

It's so out of touch with reality :(

Wait until you find out that money is just something we invented.

@@coaldoubt2879 lmaoooo

@Nezumi Nezumi Production IS valuable, yet somehow the rich in society produce nothing but somehow end up with more money. I don't think you've understood Marxism.

@@coaldoubt2879 To be fair, that tends to happen irrespective of the socioeconomic system in play. Those who seek wealth above all else usually find a way to game the system. Russia is a wonderful example, being dominated by just a few oligarchs.

@@andrewthomas695 some cultures see wanting more than you need as mental in illness.

Plenty of money for the military and war too. In the states it took 5 months for them to scrap together $600 for the citizens, but mere hours to send billions to Ukraine.

They just sent your pension pay rise to arm Ukrainians....

@@MiggsMultiple I can see the need for armed resistance against Putin. I can't see the need to subsidise multi-billion dollar profit making mining & oil companies that already receive massive tax breaks.

@@RARDingo Maybe the nation's that have more to do with Ukraine can throw them money. Maybe this nation where half a state lost its entire life under water can use it here.

@@MiggsMultiple I have relatives in Ukraine & I served in the Australian Army for quite a while, mostly during the cold war years. I am happy to send support to those defending freedom from criminal tyrants like Putin. I also experienced significant flooding damage recently. I would STILL rather see money go to people that ACTUALLY needed it, rather than huge, profit making companies that don't. Have I not already made that perfectly clear, or do you have trouble comprehending English as a written language?

1900? a week>? clear?

@@morphix007 probably biweekly

@@brittanyfehlings6838 omg that's Low for a nurse if it is fortnightly. It better be weekly for her sake

@@kichw it’s because she is an EN RN’s who do the degree as opposed to the tafe course earn considerably more. This does not mitigate what she is saying it’s just context

@@teenindustry wait so she has diploma which is enrolled nurse that's why they make slightly less compared to registered? OK got it makes sense

They've been in power the majority of the time since the start of the millennium. It's messed up.

Im from nz and struggle to put petrol in the car to even get to work

Why carry the "we're hard working Australians"... Australians don't know how to work hard. Highest minimum wage in the world, 38 hour work week, 4 weeks Annual Leave, 10+ days sick leave, carer's leave, compassionate leave... the list goes on... you're all a bunch of soft pansies who did this to yourselves by voting in poor governments with even worse leaders.

They do realize it, they just don’t care.

That what socialism high taxation does bankrupt more people reliant on government tit

I think people with disposable income don’t realise, sometimes we (poor folks) have to choose between our health and what’s cheap. I’ve screwed my disabilities more thanks to having to go without food or medications etc. it’s damn rough.

What's bread, can't remember the last time I afforded that

U think this corrupt government cares?

@@Schizobateman Why would they care, their wages are so much higher than the average Australian?

@@mariahewitt9787 well hopefully they get what's coming to them when people finally have enough and rise up

Exactly

Do you have foreclosure auctions in Australia? That's how I got my home 2/3 off

She in usa not Australia obviously

This is all planned, they are making record profits.

Have you considered becoming a economic migrant?

People get lazy and don’t have the energy to fight back like the old days.

@@Revealthereal_ it's not laziness, it's exhaustion. There are so many battles to fight; and when you are struggling to buy food it's hard to maintain the strength to fight. I did what I can but financial hardship, illness, exhaustion and looking after my elderly parents is destroying me.

Sadly this is the truth! As a single disability pensioner fruit and vegetables are a luxury I haven't been able to afford for a very long time, 3 meals a day... I can't remember the last time I lived so extravagantly. I live by rationing wheat bix (breakfast cereal) for the week before my pension comes. I don't smoke, drink, use drugs, gamble or buy meat but it still doesn't streatch far enough. How can you save for the future when you are barely surviving today. The Government says they can't afford to increase the rate of Centrelink payments I say you can't afford not to, the human cost is staggering... mental health issues, hunger, inability to access medical care in a timely fashion (due to lack of transport or lack of funds for medication), poor quality of life, and social isolation to name a few. How quickly people who lost their jobs during covid forget how inadequate the welfare payments were! More people need to stand up and demand a basic standard of living for ALL Australians.

I need that on a bumper sticker!

Only Klaus Schwab chosen one's will succeed. Doesn't matter who you vote for!

​@@mariahewitt9787 Vote minor parties first put ALL the majors last.

Vote minor parties first put ALL the majors last.

@@123machet Yea great and we end up with another LNP term you gronk

Many pensioners actually have a lot of money and they hide their assets..

What is rent and rates? - Sincerely, the 125,000 rough sleepers in Australia

@@joebloggs2312 I am a nurse and have recently worked in Emergency departments, with people homeless and hungry., not enough nurses because they cannot afford to live in the area, petrol is now becoming expensive. Elderly coming in with malnutrition. Families with children living in cars under bridges, families with newborns living in cars. The past 8 years the same. Medicare is being run into the ground. Poverty is coming faster than ever. The user pay system in on the horizon. The wealthy are getting wealthier and the poor get the picture. Anxiety...hunger more than anything. Ask any counsellor - poverty. And if I hear a Prime Minister say they are aspirational poor and its luck is rubbish. Nonsense wheat prices, OZ makes enough food to feed 90 million a year, Petrol, nonsense - a lot of persons only need an EV, where as some need fuel. Plant some trees.... How about some Human Politics that do not only suit the multi nationals who dont pay tax, and their list is enormous. Couch surfing on a casual job is not working Australia.

Yeah, not to mention later on if we want to marry and have children

That left politics goal communism you own nothing

My parents want to raise the rent for my bedroom to 1000$/month 😪 now even my parents place is gonna be too expensive 🙃 I've gotten 2 new jobs and my income will just cover it. Goodbye saving money/independence 😢

​@@porkbelly884Australia has a low birth rate due to the cost of living crisis.

I swear Aldi is barely any cheaper than Coles

@Kohan kye it is much cheaper. I've done the math haha. I got all the same items at both stores. Coles was like 15 to 20 bucks more expensive. But right now, it's expensive everywhere.

@@gdaymates431 I think in general, Coles is more expensive. But if you shop by focusing on specials then Coles is cheaper, which works better for me as I shop by the specials and rarely buy stuff at full price. We never had an Aldi in our area until 6 months ago, I expected grocery shopping to be slashed, but it just wasn’t the case.

@Kohan kye sales are fun. I'm plant based so my groceries are usually only 50 to 60 bucks a week anyway. I sometimes pop into Woolworths to bug Oreos and Linda McCartney sausages haha.

Haha and gov says inflation is 3.5% 😝

I’m in the states here but the Australian people I follow on IG, you’d think the go-go 90s were still going. Australia seems very similar to America. We are both going through the same thing…

I’ve seen this very thing in the US, and worse. There was an hysterical woman with an obviously sick child at the pharmacy counter, unable to afford the child’s medicine. A bunch of us took up a collection on the spot and purchased it. I think the woman was not legal in the US, therefore ineligible for Medicaid. She could get deported if she applied. Whatever your opinion on illegal immigration, it’s immoral to deprive a sick child of medicine!

Did you help her?

@@jbar_85 literally the whole world is in the same shit. IG is certainly not an adequate source of information

@@kria9119 true.

It's like around €2,50 p/liter over here in The Netherlands

£2,95 per litre in the UK...makes it roughly £12 per gallon...

Iv seen some milks for less than 2.95 pounds

I've been riding an electric bike for a few months.

@@raybon7939 Try biking 15 miles a day, there and back. Bike won't cut it.

Only thing trickling is yellow

They absolutely lied. Kick em out.

It's also too expensive to die!

The upvotes of this comment proves your statement

Seriously underrated comment!

American oligarchs park their profits offshore, so they can't be taxed. 🤭🤭🤭🙄🙁

Amen

Dude labor isn't any better. None of the decent parties get enough votes

@Proper how is the gov right wing? They let in 300 thousand migrants a year

I wonder how many people out there voted Liberal last election and still blame Labor for housing prices. I would really like to know just how ignorant the Australian electorate is, I bet the results would be shocking.

Haha all our politicians are hopeless open your eyes our problems have been happing under boths lib and labour.

No it not franchise own businesses not corporations

Thank Fukushima and Chornobyl. Cancers are up everywhere. Pets seem to be suffering most, I had to put two dogs away for cancer in the last two years.🤭🙄🤭🤭

I recently heard the GBR is dying. Idiots are trying to blame climate change.🙁😶🤭🙄🤮🤮

This is so sad to hear. I'm sorry to see people are going through this 😕

Just imagine what your parents must be going through God bless us parents out here holding it down💞

Save all you can and buy some good land to grow food

@@djack915 thank you

Save as much as you can, as one day you will be on your own.

@@ashleybosvik3031 I have to take care of my younger brother who has cerebral palsy and seizure disorder so I will inherit the house 🏡 after my parents pass. I have Aspergers myself so life will be very difficult without them and I will miss them greatly.

I am a senior I can keep my budget under $40 I buy nothing but mark down meat and a lot of other markdown items at my grocery store I shopped this way when I worked full-time and I have been doing this the last two years since I've been on Social Security I live in the states. If you are really struggling you could check out a food pantry I help at a weekly church pantry and I will occasionally take a few items but I don't take food every week even though the helpers are allowed to.

The grow your own food

Should start small vegetable patch and save some money.

Pop bought a house for the price of today's cauliflower....

@@lexluong8155 you assume too much

Shut up Tony ..

no

They can't, they sold out our strategic industries in pursuit of a service economy.

If the Australia government is anything like the U.S. government, than the answer is no.

As an American I can understand this

exactly

Shhh 🤫 No one, not even the so called “lefty” ABC wants to touch that one 🙄

Fiat currency is the greatest scam of all time

Nothing wrong with Keynesian economics Print money to pay off debts and service of the economy 🤪

@@Archdog pyramid Need hard money again.

Don't forget the biggest employer is government. WA government is holding out for a 2.5% increase to public servant pay. This is on top of years of $1000 a year and the state having a surplus. Private sector pay rises often follow government pay rises. Also, Perth inflation last year was higher than the national inflation with 5.7%. So they want public servants to take a 3.2% pay cut. Yeah.. people think labor is pro union.

@@MrZoomah The NSW government capped public service wage rises at 1.5% in 2020 for 4 years. It's always Labor until someone has to point out against the popular narrative that the LNP do the exact same thing. Nsw government also doesn't like to hire full-time staff rather casuals of which a majority quit in the first year due to inability to be an adult in the most expensive state in Australia surviving on casual hours.

@@TheMuslimsarecoming I'm a union delegate and traditionally labor voter. Just annoyed that labor is basically becoming liberals lite now. Serve the mines. Hopefully we get some strong independents

@@MrZoomah They went to the last election with incredibly progressive policies and were destroyed by the electorate. It's honestly everyone else's fault they have to move the goal posts to get elected. With the Murdoch media brainwashing the politically uneducated and almost no way to combat it it's impossible for Labor to be the party that they once were.

Its not just them. Its both of the major parties and those just behind them. All bad policies since the 70s. At the end of the day they are all one and the same party, they all promise everything and deliver nothing and pay rises to themselves is there mandate. They dont care about anyone else.

Could the low interest rate is the reason for that?

Considering more Australians are renting these days and less people own, we shouldn't take care of owners just because of sheer numbers of people who rent. This is terrible for the middle and lower class who don't have any housing debt. Also landlords will simply raise rents to counter inflation further driving the divide between rich and poor.

Because they can.

Free market tw*ts still using the logic of long dead ✨ trickle down ✨economics. Why would businesses raise wages above the legislated minimum? This is capitalism BABY. Profits rule everything around me. This mess is going to see the middle class shrink so significantly it is honestly terrifying. Where are they get tax revenue now???????? Certainly not corporations while LNP is still in town.

@Zo 🌻 it doesn’t have to - we have sovereign currency, we can do what we like. It’s just that what we’d ‘like’ is for Scott Morrison to give tax dollars to his buddies. One of the most disgusting myths in Australian discourse is that liberals are good economic managers. One need only look to the to the OECD literature to work that out. We will never recover from Scott Morrison and it’s sick that the ABC reports on it as they do.

Phillip lowe is me and my son's favourite muppet. 😝 I want to send him a calculator. do you think I should send it with extra battery's lol

A person could only move to a much cheaper country if he/ she has a good online job or business. The developing countries have low salary standards, unless the person works as an executive there

Many other countries have a even worse police force and government. Stay where you are Australia does not need you.

Got a good point. I’ve been working in digital sector in Thailand for last few years and this is the kind of news that worries me about moving back home. Yes you can definitely save more on an exec salary as food an accommodation is much less. And yes the police and government are all too fond of brown paper bags - but you understand how to live with it and it’s not such a problem. But it’s not for everyone.

@@joelc9439 Australia is pathetic ,our politicians are bullshiting us 😂 with fake marketing campaigns

@@containedhurricane most american cities only charge $500 a month for rent. Australia is just too damn expensive especially with our stagnant wages

Exactly, when interest rates go up, house prices go down.

Interest on deposit accounts will lag significantly, don't hold your breath

Ok. Commie

You mean like Germany 🙄

@@MrMr-ws3tv Germany closed it's nuclear plants for no good reason. More like France

@@Fishmans Not that I disagree with the original comment but energy prices are still going up like crazy here in France atm

Do you mean the Brent & WTI prices? Like Australia has any influence on that price 🙄

Learn about our grid it will get really bad I have worked on it for over 20 years. Go off grid while you have a chance .🌹

People on the dole are not your enemy the government who gave billions of tax payers money to profit making billion dollar companies are the enemy.

Stfu ... People on the dole still get less.

DSP is paid more than Jobseeker aka dole or youth allowance

Using hot air balloons in this video was so damn funny.

Welcome to America

Q: What did they do for their entire working lives? If they were paid a wage or salary, did they also get Super? If they were self-employed, were they responsible enough to pay their own Super? If you get to the end of the road where your body is now failing you, and have nothing to show for it, it isn't "the pension's" fault.

Why do you say that?

per fortnight

Going green is to invest in alternative energy so you don't kill the environment *as much* and you can still have the basics.

@@salemend6891 not being able to heat our homes or be able to afford to go to work is a major problem

@@damnyankeesdaughter5427 Duh tell me something new. Alternative energy, better investment in public transportation (At least for the U.S. idk about Australia) and zoning can alleviate that issue. But yet you wanted to make a dig at green energy. With the worst example lmao.

@@salemend6891 instead of saying alternate energy which has no information lay out the plan so I understand because right now thousands will freeze and die this winter

The only winner is the government because they receive taxes on nurses incomes and the higher taxes on consumer goods costing more.

Working in medical field will guarantee a job with good salary and the medical workers will always be highly sought-after, unlike the other fields

Teachers who are casual get nothing. And there are more teachers these days. So please don't talk shit.

They are greedy

I don't have a family or kids and I received a total of 2 checks in the beginning of the year and haven't seen a penny since. Im disabled so you know the struggle is real

I just shove more and more in my pockets

Both parties are to blame, look at Victoria and the huge amount of economic damage Dan Andrews created with his 9 months of lockdowns

@@jordywatson7829 hardly. This is almost all currently due to a skilled labour shortage and a complete reliance on petrol. Labor wanted to move us quickly to EVs at the last election. I'm not under the illusion things would have been simply rosy, but this federal government completely fails to act even on natural disasters.

It was the lnp that let covid into the country in the first place.

@@JoshuaMcTackett gtfo the migrants drive down wages, they are just a cheap source of labour for big business to exploit.

@@Schizobateman No surprise considering that the John Howard government was the one to increase immigration. LNP know how to exploit yellow and brown people good.

Stop saying this situation is our fault. Wages have not risen and people have no jobs.

Wrong it helps middle class, High taxation doesn't help middle class you mean left socialist

Spoken like a true boomer

@@Schizobateman Yep, know what is worth spending the money on.

@@stevewiles7132 would be great if house prices didn't cost 25 times the average yearly wages

@@Schizobateman I started in a one bedroom flat, worked up to a two bedroom house, and grew from there. used second hand furniture for decades, never had a new car. Yes I am now well off, but I didn't rush into it, it all comes with time and carful management.

@@stevewiles7132 house prices have gone well above wages in the past few decades. A comment like yours is nothing but pure ignorance.

FFS is everyone disabled nowadays. The word is thrown around very loosely. 7 years before pension age so go out and work. You say you qualify for disability.. You obviously don't that's why you don't have it. Centerlink should be much much higher I agree but there should be a lower amount for the long term unemployed say... Over a year or two for example to counter those who treat it as an early pension. And for those who can't work due to disability they should get more. Infact we should try universal income an spread the work around more so we can have full employment.

I wish I could get a job, no one will employ me. I apply for job after job and with my work history it shouldn't be a problem but it is. No one will employ me. Love a keyboard warrior, who thinks they know everything. You should run for PM. Or become a university professor or a judge so you can dictate to everyone how they should live their lives. A drug addict or a morbidly obese person can get disability. Drug addicts are more than capable of working and often do as well as claim disability, to pay for their habits. A morbidly obese person can lose weight, but nobody tells them to get a job. So do everyone a huge favour and keep your misguided opinion to yourself.

@@sustainablyyours61 I just watched your videos. So much complaining... Oh I have found a rental ( I am like good for you) then the whining again...I have to move..etc. i am a similar age to you I have had to move to get my self financially stronger after a divorce. i have moved a few times. You say to keep my comments to my self... but you made a comment first. i am only replying to your comment. So you are saying you can comment but others should keep their opinions to themselves. This makes no sense. If you are not getting work then something seems wrong. Age discrimination could be a factor especially I think for women but still there should be some work out there. The unemployment rate is t an all time low. Or If you don't want to work just guess up and say so. It's the poor me victim attitude that makes me loose empathy.

@@janegarnham 🤣🤣🤣🤣😜😜😜😜

@@janegarnham why is it when someone makes a comment on a video there is always someone who has to pass judgement. Having very little knowledge of the situation. Agism is a very real issue when it comes finding work. I am not afraid of work if I could get a job, we wouldn't be having this conversation. I made a comment on a video, it was not directed at you, and I am sure there are others who posted similar comments, playing the "victim" Card as you say. I have scrubbed floors for a living, done letterbox delivery for a job as well as worked in management positions. Don't assume anything about me. I have been divorced myself, can you afford rent, because a large percentage of Aussies can't, including myself. We have had to rely on the kindness of total strangers to keep a roof over our head, because we have been priced out of the rental market. This is the 2nd time in 3 months we have had to move because of the rental crisis and the high cost of living. Thank you by the way for viewing my videos that is pushing my stats to hopefully one day actually earning a little income from being a content creator.

And many people dont and are still struggling.