What is Happening with the Australian Economy 

My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in Australia.

Our economy is struggling with uncertainties, housing issues, foreclosures, global fluctuations, and the pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

Utter bull. Monetary inflation is caused when fiat money is created out of thin air, based on nothing (ie not related to an increase in physical production) and then loaned out at interest. This usually happens involuntarily. Our governments borrow and we have to pay the interest. We have no say in this process. Let's think. How much currency was created in the last 4 years, since they locked everyone up and closed down all those small businesses? That's inflation, and that's the actual tax that we pay. It has nothing to do with demand, or savings, or anything else. Inflation is a product of currency creation. It's actually a devaluation of the currency and not an increase in the value of goods and services. It takes time to trickle down (about 4 years) from the bond market, to securities, to us, but now all that extra currency is chasing less goods because production is not yet back to where it was before they put us all out of business. So, more dollars chasing less stuff, guess what - the dollars lose value and prices go up. It's really quite simple. Inflation-adjusted, we have been in a recession since at least January. Even if these numbers quoted are to be believed, a GDP growth of 1.8% with inflation at 3.2% means a that there is less physical trade and a contraction of at least 1.4%. Australians are suffering. It's because more hours worked are translating to less stuff and more stress. That's an economic recession. If the same amount of effort is bringing in less reward, then the economy is going backwards. Please don't patronize us by saying that it's just our imagination and that things are not really so bad. They're bad, and getting worse, every day.

Economy- We are heading for a recession. Government - Ok, We will bring more people into the country to boost spending.

222,000 Australians leave the country permanently every year due to the extraordinarily high cost of living. I find this statistic unbelievable! So much for the lucky country…which it was, but isn’t any more. Sad! 😢

Our wage growth is laughable because inflation grew by ten folds in the last decade. Wage growth was suppressed during those times by the previous government and not everyone benefited by the meager long awaited wage growth. Also factor in all cost of living has risen and we have a housing crisis aswell. This so called "wage growth" made no effect. More and more Australians are facing homelessness as their rents are beyond 50% of their wage.

No matter what occurs, as long as house prices and rents rise the GDP will rise. Sure you can mention the minerals, but house prices are the real GDP boaster.

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As someone working in retail every week we break the record for 'worst take ever', as a country hardware store we are borderline essential to tradies farmers and general community. it all boils down to greed, corruption and policies that reflect the world of the ones making them and not the real world the people actually live in. On paper it's perfectly logical and sounds good but the reality is that our primary materials are shipped off shore for cheap and we are buying the secondary and tertiary products made from those materials at a premium. What sense is there in nearly giving away ores that are finite and buying in steel made to a deteriorating standard and inflating price? We have everything we need right here but it's all handled by international companies.. Even water! Where a large portion of Murray irrigation rights are owned by a Canadian company.

Ohh It's just in my head,Iam just imagining everything.

Labor has systematically destroyed it through extremely high power costs making it totally uneconomical for businesses to run. Labor also refuses to decrease petrol tax all which has driven inflation through the roof. With mass immigration their are no homes available to anyone except the rich. In other words Labor doesn't give a stuff for working class people - they have completely lost the way......

In the 12 months till September 2023 Australian household income slumped by 6.1 adjusted for inflation the sharpest fall across the OECD. The only reason there is a slight increase in GDP is because of the massive increase in immigration. That is why Australians are feeling and are really in a per capita recession.

We are in a recession - a per-capita recession. The only reason GDP is going up, is because of massive immigration. The pie is getting slightly larger but shared among a lot more people.

Businesses increase wages to hire / attract more staff, and then to curb with rising costs of hiring & manpower, inflate the price of goods & services to increase profits to keep the business afloat. In other words, the rise in salary is passed on to consumers eventually..

The data seems to be expressed in USDs. Australia absorbed some of the US’ inflation and the AUD dipped on foreign exchange markets. A correction is likely in the next few years. Australia retains a higher creditworthiness rating than the US. AAA Stable, all agencies. A budget surplus likely. But, a two period recession possible by 2025.

Inflation is the result of deficit government spending or surplus capital from outside sources. Wage increases are invariably, but not exclusively, the result of workers trying to get ahead of the inflation monster.

Note to editor: good video but at 10min 38sec - thats the Kiwi flag. 🙂

Cheer~~~the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.😊

I don't care up or down or rise or fall..... Just tell me whom do we owe????? To which is this national Debt owed???? The printing machine???

GDP will look great. But what about GDP per capita

Using the NZ flag! Priceless.

That’s the NZ flag shown close to the end.

If Australia is fiddling the books like all the other G7 countries, then it will be counting Govt. spending in its GDP figures. Creating government jobs is not adding anything to the real economy, but is getting people used to the idea of a basic income economy.

GDP is a rather useless way of measuring the health of an economy since Government spending including the printing press is reflected. The non-governmental portion of the economy on a per capita basis is a more accurate way of looking at things.

The price of imported / international products have risen dramatically. Import inflation.

Even though GDP has increased, this is because of the high level of immigration. So per capita GDP is in decline. But the figures do not include cost of housing, renting and buying, nor do they include energy that is out of control, because of privatisation and sale to foreign companies. The basics have increased, profit gouging from the duopoly of Coles and Wollies. We are screwed

This government,enough said.

We need to nationlise our resources like libya and norway

Inflation 9.1% and growth is 1.8% so real actual growth is -7.3% ! The country has shrunk its economy by -7.3% because inflation is negative growth ! Ha ! Ha ! Ha ! Hilarious 🤣

Term: Rubbery Figures.

How much tax for 10000 and 55 000? When the number is higher the more tax amount 😂😂😂😂😂 remember those days in cents

This is an AI created video with heaps of irrelevant fill, a lot of waffle and the occasional reference to Australia. We are among the world's richest people, with a high standard of living, free health care and a generous welfare safety net. Unemployment is sub 4% with a similar but falling level of inflation. The only truth in this video is a significant housing crises caused by record numbers of immigrants and international students, leading to higher rents and house prices. The government has reduced future intake and set in place measures to increase the housing stock.

Where theres immigration theres economy in decline

The unemployment rate is cooked.

Landlords are buying up Australia, taking away from families. Housing is the biggest problem, since 2007.

Yeah right, blame the workers for actually getting money! Yes it does, but a LITTLE. The main cause is government over spending. STOP PRINTING MONEY! OBLITERATE the Reserve Bank!!!!!!!!!!!!!!!

Too many LGBTQ they got than a worker

This from an American narrator….. Here’s an idea, how about your thieving corporations pay some tax. And you know what you can do with your submarines…..

OZZIE LAZY

First up all can anyone tell me are you telling truth recession and people leaving your country because in my homeland every one wants to come your place it's a heaven of dreams i think you all are jealous

test

NO CHINESE MONEY TO SAVE YOU

The books were cooked by 10 years of conservative party rule. Around 90% of the country’s wealth is now with the top 10% Australia is a tax haven for housing. Most of the wealth is locked up in housing. Any attempt to reduce inflation wont work through the usual mechanisms. It won’t stop the rich from spending because they are so wealthy. Anyone under 40 is now priced out of basic living unless business or generational wealthy is present. Solution: remove tax breaks tor housing investments, give tax break to small business and small business investment

The fall of the west

The info in this video is too basic to be of any use or to effectively explaining what is happening in Australia. Australian GDP is skewed by mining export corporate incomes that don’t reflect normal people’s family incomes and the real purchasing power of the Australia’s dollar. Food costs have sky-rocketed because of a complex set of factors including higher fertilizer costs, a falling Australian dollar and poor soil quality from industrial farming that destroys soil as opposed to Aboriginal soil nurturing practices. Decades of land throttling and stupid taxation policies have slaughtered housing affordability. An economy with pathetic diversification like Australia’s is bound to fall face down when corrupt governments have fleeced it for all it is worth over decades of mismanagement. The list goes on and on, but the number of homeless tramps in major Australian cities is certainly no accident. And what is this nonsense about a vibe-cession 😂

This sounds like a propaganda video from our government. Haha

The problem is the actual Australians don't want to work. They want to go on holidays....eat out at sit at bars...that's what's full these days. They overspend and have no clue that work actually pays. You will never see a jobless Asian in Australia. What does that say?

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Australia is a country with small economy. Without wealthy immigrants coming in annually & countries to buy its huge raw minerals productions, its business conditions & living standards will quickly deteriorate. And in the last few years by its arrogant actions & stirring up lame issues on other importing countries, it is hurting itself & its people.

Sounds like RBA propaganda