#auseconomy — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #auseconomy, aggregated by home.social.
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#houseprices #auspol #ausbudget #auseconomy
House prices are nearly three times higher than what they should be in Australia. And they are owned by fewer people. The widening gap between the “haves” and the “have nots”.
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Below is a graph from Deloitte Access Economics showing the Australian economy.
It has expenses exceeding income.Looks like the responsible thing for Anthony Albanese to do is tax gas exports at 50%.
Anyone got the expected increase in revenue that we'd get to hand?
#AusPol #AusEconomy #GasTax #AnthonyAlbanese #BudgetDeficit
#MakeGinaChuckAHissyFit #FederalBudgetAU2026 -
Below is a graph from Deloitte Access Economics showing the Australian economy.
It has expenses exceeding income.Looks like the responsible thing for Anthony Albanese to do is tax gas exports at 50%.
Anyone got the expected increase in revenue that we'd get to hand?
#AusPol #AusEconomy #GasTax #AnthonyAlbanese #BudgetDeficit
#MakeGinaChuckAHissyFit #FederalBudgetAU2026 -
Below is a graph from Deloitte Access Economics showing the Australian economy.
It has expenses exceeding income.Looks like the responsible thing for Anthony Albanese to do is tax gas exports at 50%.
Anyone got the expected increase in revenue that we'd get to hand?
#AusPol #AusEconomy #GasTax #AnthonyAlbanese #BudgetDeficit
#MakeGinaChuckAHissyFit #FederalBudgetAU2026 -
Below is a graph from Deloitte Access Economics showing the Australian economy.
It has expenses exceeding income.Looks like the responsible thing for Anthony Albanese to do is tax gas exports at 50%.
Anyone got the expected increase in revenue that we'd get to hand?
#AusPol #AusEconomy #GasTax #AnthonyAlbanese #BudgetDeficit
#MakeGinaChuckAHissyFit #FederalBudgetAU2026 -
Below is a graph from Deloitte Access Economics showing the Australian economy.
It has expenses exceeding income.Looks like the responsible thing for Anthony Albanese to do is tax gas exports at 50%.
Anyone got the expected increase in revenue that we'd get to hand?
#AusPol #AusEconomy #GasTax #AnthonyAlbanese #BudgetDeficit
#MakeGinaChuckAHissyFit #FederalBudgetAU2026 -
The US dollar's sharp decline is causing concern for Australia's $4 trillion superannuation pool. Rising US bond yields and mortgage rates could impact global markets, affecting Australian investments and the economy.
#Finance #Superannuation #USDollar #GlobalEconomy #auseconomy
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The US dollar's sharp decline is causing concern for Australia's $4 trillion superannuation pool. Rising US bond yields and mortgage rates could impact global markets, affecting Australian investments and the economy.
#Finance #Superannuation #USDollar #GlobalEconomy #auseconomy
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Greg #jericho is sounding more hopeful for our economy in his latest piece for the #Guardian
He does note, however, that there is along way to go yet before our living standards get back to what they were. So, we’re not out of the woods yet folks.
I must confess that after reading the article, I am thoroughly confused by the #RBA ‘s deliberations given its stedfast adherence to neoliberal economics.
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New survey reveals financial struggles for many Australians: 1 in 5 have less than $100 in savings, while 10.3% have no savings but are debt-free. 15.8% are in debt or seeing it grow, and 26.5% say their savings are declining or they’re saving less than usual. Only 4.2% saved more in the past year, with 16.6% managing to save consistently. #FinancialWellness #SavingsStruggles #ausecon #auseconomy #auspol
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New survey reveals financial struggles for many Australians: 1 in 5 have less than $100 in savings, while 10.3% have no savings but are debt-free. 15.8% are in debt or seeing it grow, and 26.5% say their savings are declining or they’re saving less than usual. Only 4.2% saved more in the past year, with 16.6% managing to save consistently. #FinancialWellness #SavingsStruggles #ausecon #auseconomy #auspol
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Australian mortgage holders are facing a financial squeeze, with monthly home loan repayments hitting $14.5 billion in June 2024, according to Reserve Bank data. Shockingly, 66% of this was just interest, a $5.5 billion rise since March 2022. Many are desperately waiting for rate cuts to ease the burden. #HomeLoans #InterestRates #RBA #Auspol #auseconomy #massimmigration
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Australian mortgage holders are facing a financial squeeze, with monthly home loan repayments hitting $14.5 billion in June 2024, according to Reserve Bank data. Shockingly, 66% of this was just interest, a $5.5 billion rise since March 2022. Many are desperately waiting for rate cuts to ease the burden. #HomeLoans #InterestRates #RBA #Auspol #auseconomy #massimmigration
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More people are seeking help as Australia's economy slows down, #RBA governor acknowledges "Some may ultimately make the difficult decision to sell their homes"
#ausecon #auspol #LuckyCountry #BetterNotBigger #auseconomy
https://www.abc.net.au/news/2024-09-05/rba-michele-bullock-more-australians-seeking-help-cost-of-living/104313588 -
More people are seeking help as Australia's economy slows down, #RBA governor acknowledges "Some may ultimately make the difficult decision to sell their homes"
#ausecon #auspol #LuckyCountry #BetterNotBigger #auseconomy
https://www.abc.net.au/news/2024-09-05/rba-michele-bullock-more-australians-seeking-help-cost-of-living/104313588 -
Why Australia's Economy is Doing Surprisingly Badly - #auspol #dutchdisease #auseconomy https://www.youtube.com/watch?v=o5mE_ZVp34U
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Why Australia's Economy is Doing Surprisingly Badly - #auspol #dutchdisease #auseconomy https://www.youtube.com/watch?v=o5mE_ZVp34U
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Canada and Australia rolled the dice on housing—and lost.
IFM Investors’ Chief Economist shared this chart highlighting the stark divergence in household debt between Australia, Canada, and the United States. It’s a telling comparison that speaks volumes about economic strategy. #housing #ausecon #auseconomy
https://www.macrobusiness.com.au/2024/08/canada-and-australia-bet-on-housing-and-lost/
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Canada and Australia rolled the dice on housing—and lost.
IFM Investors’ Chief Economist shared this chart highlighting the stark divergence in household debt between Australia, Canada, and the United States. It’s a telling comparison that speaks volumes about economic strategy. #housing #ausecon #auseconomy
https://www.macrobusiness.com.au/2024/08/canada-and-australia-bet-on-housing-and-lost/
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Tsunami of financial distress: a sad indictment of society. Banks' lenient lending during record-low interest rates has led to today's #mortgagecrisis. They knew it was unsustainable once rates rose. #FinancialCrisis #MortgageCrisis #BankingReform #ausecon #auseconomy #auspol #bankingroyalcommission
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Tsunami of financial distress: a sad indictment of society. Banks' lenient lending during record-low interest rates has led to today's #mortgagecrisis. They knew it was unsustainable once rates rose. #FinancialCrisis #MortgageCrisis #BankingReform #ausecon #auseconomy #auspol #bankingroyalcommission
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Australia's #housingcrisis is a complex issue . Several factors and policies over decades have contributed to the current state of the housing market, including:
1. Supply and Demand: A growing population, increased immigration numbers, particularly in major cities, has driven up demand for housing. Limited supply, due to zoning laws and other regulations, has exacerbated the issue.
2. Negative Gearing and Capital Gains Tax Concessions: Policies that allow property investors to deduct losses on rental properties from their taxable income (negative gearing) and concessions on #capitalgains tax have been criticized for inflating property prices. These policies have been in place for many years and have been supported by both major political parties at different times.
3. #ForeignInvestment: Increased foreign investment in Australian property, particularly from Chinese buyers, has also been cited as a factor driving up prices. Policies regulating foreign investment have evolved over time but have often been seen as insufficient.
4. Monetary Policy: Low interest rates set by the Reserve Bank of Australia (#RBA ) have made borrowing cheaper, contributing to higher property prices.
5. Government Incentives: Various government incentives, such as first-home buyer grants and other subsidies, while intended to help buyers enter the market, can also contribute to price inflation by increasing demand.
6. Urban Planning: Inefficient urban planning and infrastructure development have limited the availability of affordable housing, particularly in well-connected areas.
If one were to identify a turning point, some analysts point to the late 1990s and early 2000s, during the tenure of Prime Minister #JohnHoward, when policies like the relaxation of capital gains tax in 1999 and the support for #negativegearing were solidified. These policies are often cited as significant contributors to the property investment boom.
However, it is important to recognise that both major political parties in Australia (Liberal and Labor) have had opportunities to address these issues over the years and have made various policy decisions that have contributed to the current situation.
#rentalcrisis #auseconomy -
Australia's #housingcrisis is a complex issue . Several factors and policies over decades have contributed to the current state of the housing market, including:
1. Supply and Demand: A growing population, increased immigration numbers, particularly in major cities, has driven up demand for housing. Limited supply, due to zoning laws and other regulations, has exacerbated the issue.
2. Negative Gearing and Capital Gains Tax Concessions: Policies that allow property investors to deduct losses on rental properties from their taxable income (negative gearing) and concessions on #capitalgains tax have been criticized for inflating property prices. These policies have been in place for many years and have been supported by both major political parties at different times.
3. #ForeignInvestment: Increased foreign investment in Australian property, particularly from Chinese buyers, has also been cited as a factor driving up prices. Policies regulating foreign investment have evolved over time but have often been seen as insufficient.
4. Monetary Policy: Low interest rates set by the Reserve Bank of Australia (#RBA ) have made borrowing cheaper, contributing to higher property prices.
5. Government Incentives: Various government incentives, such as first-home buyer grants and other subsidies, while intended to help buyers enter the market, can also contribute to price inflation by increasing demand.
6. Urban Planning: Inefficient urban planning and infrastructure development have limited the availability of affordable housing, particularly in well-connected areas.
If one were to identify a turning point, some analysts point to the late 1990s and early 2000s, during the tenure of Prime Minister #JohnHoward, when policies like the relaxation of capital gains tax in 1999 and the support for #negativegearing were solidified. These policies are often cited as significant contributors to the property investment boom.
However, it is important to recognise that both major political parties in Australia (Liberal and Labor) have had opportunities to address these issues over the years and have made various policy decisions that have contributed to the current situation.
#rentalcrisis #auseconomy -
A photo showing near hundreds of people queueing up for a food bank in an inner-city suburb reflects "the sad new reality of our country", Aussies say, with charity organisers warning the number of those seeking help has "grown exponentially" in recent months #auspol #BetterNotBigger #auseconomy #greed
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A photo showing near hundreds of people queueing up for a food bank in an inner-city suburb reflects "the sad new reality of our country", Aussies say, with charity organisers warning the number of those seeking help has "grown exponentially" in recent months #auspol #BetterNotBigger #auseconomy #greed
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There are claims that international education is a $48 billion export industry funding public programs like the NDIS and Medicare. In reality, it's a people-importing migration industry that generates far less export income. Without generous work rights and pathways to permanent residency, the industry would collapse. The Australian Bureau of Statistics inflates the $48 billion figure by including all student spending, much of which is earned within Australia.
#ausecon #auseconomy #auspol -
There are claims that international education is a $48 billion export industry funding public programs like the NDIS and Medicare. In reality, it's a people-importing migration industry that generates far less export income. Without generous work rights and pathways to permanent residency, the industry would collapse. The Australian Bureau of Statistics inflates the $48 billion figure by including all student spending, much of which is earned within Australia.
#ausecon #auseconomy #auspol -
Why Living in #Australia is Becoming Impossible
Australia boasts the 13th largest economy in the world, beautiful beaches, access to world-class education, universal #healthcare, and much more. However, skyrocketing #housing prices and rental rates have made Australia one of the most unaffordable places to live. What are the key causes of this affordability crisis? Factors include high immigration, bureaucratic red tape, tax incentives, declining investment, and more.
By examining these issues, we can uncover the real reasons behind Australia's housing market problems and suggest potential solutions.
#auspol #ausecon #auseconomy #housingcrisis #negativegearing -
Why Living in #Australia is Becoming Impossible
Australia boasts the 13th largest economy in the world, beautiful beaches, access to world-class education, universal #healthcare, and much more. However, skyrocketing #housing prices and rental rates have made Australia one of the most unaffordable places to live. What are the key causes of this affordability crisis? Factors include high immigration, bureaucratic red tape, tax incentives, declining investment, and more.
By examining these issues, we can uncover the real reasons behind Australia's housing market problems and suggest potential solutions.
#auspol #ausecon #auseconomy #housingcrisis #negativegearing -
A farmer from New South Wales recently visited Japan and discovered that Australian #meat was being sold in Tokyo for less than it costs in major Australian supermarkets. Analysts argue that direct comparisons can be "misleading" without accounting for factors such as global import competition, differences in meat cuts, and exchange rate fluctuations. Although #Coles and #Woolworths have denied allegations of price gouging, the #ACCC is set to release an interim report on its inquiry into supermarkets by August.
#ausecon #auseconomy #auspol
https://www.abc.net.au/news/2024-05-28/australian-beef-cheaper-tokyo-supermarket-than-coles-woolworths/103897144 -
A farmer from New South Wales recently visited Japan and discovered that Australian #meat was being sold in Tokyo for less than it costs in major Australian supermarkets. Analysts argue that direct comparisons can be "misleading" without accounting for factors such as global import competition, differences in meat cuts, and exchange rate fluctuations. Although #Coles and #Woolworths have denied allegations of price gouging, the #ACCC is set to release an interim report on its inquiry into supermarkets by August.
#ausecon #auseconomy #auspol
https://www.abc.net.au/news/2024-05-28/australian-beef-cheaper-tokyo-supermarket-than-coles-woolworths/103897144 -
Rising rent? Mega mortgage? Cozzielivs? 'Hardship' help hard to get, as banks fail to help those who need it.
A recent #ASIC report reveals that lenders' hardship processes are so challenging that many struggling customers give up. Mortgage hardship notices surged by 54% in the last three months of 2023 compared to the same period in 2022.
ASIC criticises banks for not complying with legal obligations to assist customers, as rising interest rates, soaring rents, and living costs push more borrowers into financial trouble.
ASIC plans further legal action against non-compliant lenders. #FinancialHardship #ASIC #BankingReform #ausecon #auseconomy #banks
https://www.abc.net.au/news/2024-05-20/hardship-help-hard-to-get-as-banks-fail-to-help-those-in-need/103860130 -
Rising rent? Mega mortgage? Cozzielivs? 'Hardship' help hard to get, as banks fail to help those who need it.
A recent #ASIC report reveals that lenders' hardship processes are so challenging that many struggling customers give up. Mortgage hardship notices surged by 54% in the last three months of 2023 compared to the same period in 2022.
ASIC criticises banks for not complying with legal obligations to assist customers, as rising interest rates, soaring rents, and living costs push more borrowers into financial trouble.
ASIC plans further legal action against non-compliant lenders. #FinancialHardship #ASIC #BankingReform #ausecon #auseconomy #banks
https://www.abc.net.au/news/2024-05-20/hardship-help-hard-to-get-as-banks-fail-to-help-those-in-need/103860130 -
Amidst soaring cost of living expenses, Australians are adapting their #coffee habits, favouring cheaper alternatives like instant coffee over frequent cafe visits. As a result, cafes grapple with dwindling customers and increased costs, signalling potential coffee price hikes. #CostOfLivingPressures #CoffeeShifts #auseconomy #ausecon https://www.abc.net.au/news/2024-05-14/cost-of-living-coffee-costs-cafes-instant-sales-rising/103824058
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Amidst soaring cost of living expenses, Australians are adapting their #coffee habits, favouring cheaper alternatives like instant coffee over frequent cafe visits. As a result, cafes grapple with dwindling customers and increased costs, signalling potential coffee price hikes. #CostOfLivingPressures #CoffeeShifts #auseconomy #ausecon https://www.abc.net.au/news/2024-05-14/cost-of-living-coffee-costs-cafes-instant-sales-rising/103824058
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#Australian economy comes in for crushed landing. The not-so-secret sauce of the crushed landing is, of course, the #massimmigration-led, labour market expansion growth model that so pleases fat rent-seekers and corrupt politicians but pulverises the living standards of the per capita Australian. #auspol #ausecon #auseconomy #BetterNotBigger #sustainability
https://www.macrobusiness.com.au/2024/04/australian-economy-comes-in-for-crushed-landing/
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#Australian economy comes in for crushed landing. The not-so-secret sauce of the crushed landing is, of course, the #massimmigration-led, labour market expansion growth model that so pleases fat rent-seekers and corrupt politicians but pulverises the living standards of the per capita Australian. #auspol #ausecon #auseconomy #BetterNotBigger #sustainability
https://www.macrobusiness.com.au/2024/04/australian-economy-comes-in-for-crushed-landing/
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Almost half of all Australian have less than $1000 in savings in their bank account, while one in five have none at all, shocking new data has revealed. #auseconomy #inequality ##BetterNotBigger #greed #homelessness #auspol
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After decades selling vacuum cleaners #Godfreys to close for good. Administrators fail to find a buyer to save the struggling retailer. Sad, I even remember the ads on TV as a kid.
#auseconomy #ausbiz #auspol -
#auspol #AusEconomy #RBA
Truth to Power from Bernard Keane (Crickey News): "It is a pretty sorry state of affairs when the country’s statisticians can see what is happening to an important area of household spending, while the so-called premier economic analysts at the RBA mistake desperate consumers for an overheating economy and decide to push up rates.The RBA since then has continued its threats to further punish households with rate rises — to further crush demand, to further slow the economy. Such threats increasingly look not just unnecessary but also actively harmful."
Economists are 'half doctors'. They can diagnose but fail to prognosticate with any degree of accuracy. Perhaps there is something to the argument that economic advice is just trackside bookie trash talk to a punter.
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Hundreds of Australians say they skip meals, visit food banks and 'dumpster dive' as the cost of living crisis continues #auspol #recession #auseconomy #BetterNotBigger
https://www.abc.net.au/news/2024-03-05/food-insecurity-cost-of-living/103521508
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NAB warns of growing arrears as quarterly earnings dive 16.9pc.
National Australia Bank’s cash earnings dived 16.9 per cent in the December quarter to $1.8 billion amid an economic slowdown, reflected in rising mortgage arrears which triggered a $193 million impairment charge.
#auseconomy -
Cost of #negativegearing and other rental deductions soaring, Australian Treasury data reveals
#auseconomy -
#Australia is unlikely to fall into #recession in 2024 but for most families it will feel like one, according to a leading economist who’s predicting years of financial pain for households. #auseconomy
https://www.thenewdaily.com.au/finance/finance-news/2024/01/30/recession-economy-2024
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The tax cuts, passed by the Morrison government in mid-2019 with Labor support after it failed to split the bill, begin in July 2024.
They remove the $120,000 to $180,000 tax bracket, increase the top tax bracket to $200,000 and reduce the marginal rate of tax for everyone earning between $45,000 and $200,000 to 30%.
So basically, a tax cut for the wealthy (politicians)
32 billion dollars a year of our tax money into pockets of those who least need it..
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Economists might be predicting an interest rate cut or two in the latter half of the year, but the International Monetary Fund #IMF has called on the #rba to push rates in the other direction #auseconomy
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#Australia has one of the most foreign-owned economies of any western country. Here is a list of 320+ foreign companies that are generating more than $200 million in revenues out of Australia each year, whether by internal sales or exports. #auspol #aus4sale #auseconomy #multinationals
https://www.maynereport.com/articles/2008/02/04-1045-248.html
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#Supermarket anger sees more shoppers finding alternative ways to buy #food - #Woolworths made a total net profit after tax of $1.62 billion in 2023, and #Coles $1.1 billion. #auseconomy #greed https://www.abc.net.au/news/2024-01-15/alternative-shopping-methods-rise-amid-supermarket-anger/103316612
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CW: deliberately creating unemployment 1
#NAIRU #NonAcceleratingInflationRateOfUnemployment #AusPol #USPol #UKPol #AusEconomy #Unemployment #Economy #Inflation #UnemploymentDeliberate #WhoPays #SocialContract #ForTheRich
Who is the nation being run to benefit?
What is the NAIRU theory? (The Non Accelerating Inflation Rate of Unemployment)?
Below is a recording of a radio interview with two economists.
Which economists? -
CW: deliberately creating unemployment 1
#NAIRU #NonAcceleratingInflationRateOfUnemployment #AusPol #USPol #UKPol #AusEconomy #Unemployment #Economy #Inflation #UnemploymentDeliberate #WhoPays #SocialContract #ForTheRich
Who is the nation being run to benefit?
What is the NAIRU theory? (The Non Accelerating Inflation Rate of Unemployment)?
Below is a recording of a radio interview with two economists.
Which economists?