#auseconomy — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #auseconomy, aggregated by home.social.
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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 -
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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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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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 -
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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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 -
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 -
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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#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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#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/