COST OF LIVING

[@friendlyjordies]

Should I make a C*NTAS shirt? While you're thinking about that get tickets to my show: www.friendlyjordies.com/live-show Lismore and Sydney SOON

[@Karvoc]

yes

[@marktiltins8845]

😅😂

[@AtticusDM]

I'm going to your Lismore show! Tickets already Bought!

[@T1-55]

yes

[@aristocratStudios]

can we get a video on the voice?

[@JackPage-h9u]

The firebombers must be seething that you’re now living across the street from the fire brigade!

[@dave.8]

Wait is he actually 😂😂 damn this guy moves slick.

[@wobblysauce]

Tricks on them… not across the street

[@schulzeee]

@@dave.8 Tumbledown Dick Rural Fire Brigade is the location on that map.

[@matthewludstrom4602]

Probably closer to the arsonist house I suspect.

[@puggy_.]

According to my KZbin this video was uploaded 3 hours ago. According to my KZbin this comment was uploaded 15 hours ago. Are you a time traveller?

[@Talisman21]

“The world economy is as fragile as you when you were 12 and someone called you gay.” Lmao never a more truer word spoken.

[@Aliyah_666]

Jokes on those guys lol... I am bisexual lol

[@grant710]

You mean to understand John Calhoun's Rodent Experiment

[@tomcustard]

Nice Iron Full Helm

[@brandon9172]

Unless your a zoomer, in which case its a term of endearment from your homies

[@biteofdog]

@@Aliyah_666 More options ❤

[@thecameronator]

I had a dumb conversation with my real estate agent about our recent rent increase. They gave me the classic excuse of "but this is the market value" - a number which has not changed in any significant way since I started paying rent here. The median has moved by about $15 in 3 years (and the increase was $65). I asked her, "if the median is still pretty much the same from when I started living here and this house was already valued below that amount, what's changed about the house that makes it necessary to increase rent now?" She replied, "I don't know, nothing I guess. But it's the market value?". Swear to god I was talking to a robot on a loop.

[@jeddie395]

Some Australian states only let landlords raise rent once a year, but the RBA has increase interest rates 12 times in just over a year, and the vacancy rate is at an all time low (in WA at least ). I am in a rental share house but I also have an investment property - two sides to everything. Just lowest income tax and raise GST imo

[@SluggedNugg]

She was trying to justify milking more money from you without feeling like the bad guy, I bet.

[@Raptorlifts]

Supply vs demand.

[@xRickAstleyx]

she had a way to make money. thats it. greed is a much more powerful motivator than anything you could have said to her. it kind of takes that kind of person to be a landlord in the first place.

[@Lea_1113]

I'm not for Landlords increasing rents at the ridiculous rates they are doing. I'm a Landlord of one property and wont' do that to my tennant. You actually missed in your comment about the increase in everything that we have to pay as a Landlord - not sure why you missed that out, obviously it would be 'dumb' for you to assume that rent is based on 'market value' only??? Did you ask her "how much has his/her mortgage increased? How much have rates, insurance increased. Did you know that councils can use increased in land valuations to up the rates - ask them why. Why does a housing boom cause rates to increase - how on earth are they realted - there's some greed you might want to comment on.

[@mathewrobson9968]

So when I started working for 7/11, we were told that when we raised the prices of coffee, we were specifically told *not* to mention inflation by the corporate board... So I told everyone that I wasn't allowed to say inflation

[@UnfortunateCritic4]

Legend 😂

[@maxrockatanksyOG]

Slow Clap

[@Shin_Lona]

The question is why weren't you allowed to say it was due to inflation? That has nothing to do with your company. What we have here is collusion between government and corporations - a business is arrangement where both parties benefit at the consumer's expense.

[@Tungg_]

Soon as free bacon deluxes were removed from the Hungry Jack's shake and win prizes, it was all downhill from there.

[@hondomclean6759]

What a bunch of Cnuts

[@Alex-tu9bh]

Don't forget about bbq cheeseburgers going up 50 cents !

[@hellopoppit12]

When I asked for a frozen coke and they said they’re $2 now, I nearly cried

[@VictusPrime]

The worst part about all this was the raise in price of the fine delicacy known as the Bunnings Snag. A national tragedy.

[@clivebrender9551]

​@@hellopoppit12 I knew it was bad when the McDonald's frozen increased by $1

[@k-c]

To unleash my wrath on the supermarkets and to reduce the super profits I am going to do my duty as a citizen to break off and consume a seedless grape from the bunch at every visit. Hope you guys join my rebellion.

[@mykehog6646]

A bunch of us will..

[@Bakeddru]

Thats why prices went up in the first place!

[@BigGunsNeverTire.]

I've been unknowingly rebelling for 30 years.

[@zaidan2112]

#grapetake

[@hailfastcorexxx]

thank you for your service.

[@deanwalkerden1054]

The Dave Hughes impression was absolute gold. If I didn't know any better, could have easily been fooled to thinking it was him

[@nhodgie]

yeah Jordies' Dave Hughes impression is stupidly good... It's a completely niche and useless superpower that he's leveraging to the best of his abilities.

[@Spentastic]

True dat ey? It was spot on

[@markcoroneos7811]

Wait, that wasnt an actual dave hughs joke?? 😂😂 its exactly something he’d say

[@man.inblack]

It was accurately as annoying as the ‘real’ thing. I’m allowed to be prejudiced against bogans because I is one.

[@cakebeary]

Yes!!!

[@SneccTheSnake]

As my grandpa used to always say "Inflation is made up, lower the prices of things or I will steal them"

[@jamescanjuggle]

a legend

[@LokiBeckonswow]

Sounds like a legend, wish I knew him

[@SneccTheSnake]

@@LokiBeckonswow I hesitate to call him a good man, but he was definitely an interesting grandfather. A joke he used to say a lot that I always love is "What do you call an honest politician?" "Unemployed"

[@scottneil1187]

Truth, I've got really good at nicking stuff. Screw those greedy scum.

[@liza2444]

everyone my age steals from the supermarkets now lol, fuck em I’m not paying $30 to make two meals when more than half my money goes to rent

[@bergerman1960]

As someone unfortunate enough to work at a supermarket during the first wave of covid, I can confirm that the only supply issues we had were caused by panic buyers. We would bring pallets of stuff directly off the truck and just leave it on the floor rather than stack shelves, because it'd be gone in 10mins.

[@Odysseus5766]

Good point. To further, I witnessed a "person", during the toilet paper "crisis" taking rolls off a pallet as said pallet was being unloaded from truck. BTW thanks for the service and hard work you and fellow supermarket workers provide.

[@Elemblue2]

That paniced people were so interesting. Theyre so ready for society to collapse. They dont seem to comprehend that society holds together because most people prefer it to some degree.

[@thomaspowell2612]

Also worked as a supermarket in covid they scalped prices on purpose. There wasn't a problem sourcing stugt

[@Ktmfan450]

I feel so sorry for these large corporations during this cost of living crisis Their profits only increased by 300%

[@Robert-cu9bm]

Because everyone wanted to give to give money for wages, which meant they didn't have a wage bill.

[@bryce.ferenczi]

24% -> 26.5% from the picture in the video, yes definitely 300%

[@mike-hunt3527]

How much have their margins increased?

[@clueless_cutie]

Now that we've all acknowledge that corporate profit margins are driving the standard of living into the ground, can you imagine my abject horror when I saw the CEO of fucking WALMART standing next to DONALD TRUMP addressing the United States and "assuring" the citizens of our country that Walmart was going to help us through the pandemic that our government was finally doing something about 8 weeks after literally everyone else? Ya know, the largest employer in the whole country that also has the highest amount of welfare recipients on payroll? Yeah, they definitely had altruistic motives! I knew we were getting fucked six ways to Sunday, but it's still upsetting to look back on election night in 2016 thinking "it's only 4 years... he can't do too much damage in 4 years, right?" Two hand picked supreme court justices, a reversal of women's rights, a global pandemic, and a minor insurrection later ... here we are still uncovering the shady shit he managed to pull off. I know everyone is suffering from the massive corporate cash grab after the Pandemic, but my god did the US get the worst of it by having the worst president in our history at the helm when all of this hit the fan.

[@Ktmfan450]

@@mike-hunt3527 Margins haven't increased but corporations will still cry wolf and claim they need to put up prices

[@JustTalkinMMA]

Had to move houses due to “ the cost of living” funnily enough the landlord who wanted to sell now can’t find a buyer and is trying to rent it out again sucked in

[@hondomclean6759]

Problem with that is someone will rent it immediately

[@Joshtarrant1]

Depending on what state your in if they ask you to vacate so they can see they have to wait a certain amount of time before they rent it out again or prove that they couldn’t sell and need to rent again because of financial difficulty… or something along those lines

[@Jono5626]

Inflation is incredible for companies, they get to up their prices while their employees get passive pay cuts

[@webbugt]

Considering that about 1% of companies actually take care of their employees and have inflation adjustment baked into the standard contract. This is very true

[@theairstig9164]

It’s against the law to force pay cuts on workers in Australia

[@Jono5626]

@@theairstig9164 Hence why inflation is so good for companies, you're not allowed to cut their pay, so you don't, you make it worth less, they are not required to account for inflation unless they're on minimum wage and even then it's not well accounted for

[@adventa2358]

@@theairstig9164 oh wow! this guy's a genius! we should've just thought of that!

[@vitulus_]

@@Jono5626 This isn't some magic way to pay employees less. Minimum wage is updated annually, and in other jobs, employees will push for a wage increase, and if employers deny then they'll check the job market for another job. Inflation really just makes the market more efficient in terms of negotating wages.

[@skolbie8496]

As someone that worked for one of these retail giants woolys, coles I'm so gratefull someone other then me is finally bringing to light how much they have been walking all over australians and having record breaking profit margins that aren't slowing down.

[@skolbie8496]

Also some fun facts to show how much capitol coles and woolworths own "How many supermarkets are in Australia? As of 2023, there are 2,186" 1099 of which are woolworths and 842 of them are coles thats 1941 out of 2186 betweeen these 2 businesses 88.7% of all supermarkets are owned by 2 companys not including all the sub brands they own including liqour stores, big W, K mart, officeworks, bunnings. We just have to trust that the 2 company's that are competeing with them selves dont price gouge us im sure they will look after us right? :D

[@oxlyyt7758]

​@skolbie working at woolworths, it has been absolutely mental to see how quickly our business is "*forced to adjust*" to the rising cost of living. Even ignoring the ludicrous rise in sale prices, in just the last few years there has been MASSIVE lay offs nation wide, reductions in available working hours, and the compensatory pay-rise isn't even remotely close to what would be expected with the profits they've had across the board, let alone what we'd actually need to support ourselves in times like these. I'm on the wrong side of the country and we're still seeing the same excuses 😂 (This is completely ignoring all the recent unpaid exployee scandals)

[@skolbie8496]

​@@oxlyyt7758 shits grim bro, also I hate how much both company's take the stance of caring about the community but if they cared even a little bit about the community they wouldn't be fucking over so many workers and consumers.

[@Jim-yk9zw]

​@@skolbie8496 And the grubs have the audacity at the self serve checkout to hit you up for an extra 50-80 cents for some charity with no way of even knowing where it goes. Likely just a tax write off for them.

[@GGPiani]

Need to start a movement that encourages people to shop at local shops. Local fruit & veg, local bakeries, local butchers. At this point they're cheaper than the chain giants (though I guess that depends where you are) and also you're supporting a small business, not a giant evil corporation that profits on people's misery and misfortune.

[@Zuriki09]

My landlord raised rent 25%, gas/elec company raised rates 40% (and are somehow still the cheapest option) and my pay went up 0%. At least my car insurance dropped in price... by 0.1%. The rush to gouge prices at blame it on inflation is the inflation. Literally nothing has changed really. Supply chains are normal now, disposable income was temporarily inflated for 1 year and have already been decimated by cost inflation and every day the plebeians get poorer than they were prior to covid.

[@woolphallus]

Exactly. There are actually some people that have the audacity to claim that wages grow with inflation so it's not so bad. Apparently, this magical job market will sort itself out and you can simply go find a job with better pay. Unfortunately, the media is a very powerful propaganda tool for these companies that continue to make record profits while the average and the poor sink further into poverty. Workers need more rights and power. Albo also needs to be doing more to regulate the price gouging and greedflation crisis.

[@Se7enth351]

"literally nothing changed really" HALF THE AMOUNT OF AUSTRALIAN DOLLARS WERE PRINTED DURING COVID YOU UNINFORMED CRETIN

[@highertest]

If your pay went up 0% you need to find another job asap. Thats how you beat companies not increasing wages while making more profit. Go to a competitor that will pay you fairly.

[@fionafiona1146]

​@@highertest that isn't always possible, especially in recession. I recommend collective action like unionising (the local train conductors union has organised a syndicate thing now)

[@LokiBeckonswow]

Eat the rich my friend, do it now ❤

[@thebeastlad8678]

ROFL "The Government gave us 750 dollars a week and in typical Australian fashion, still complained" as a kiwi who lived in Melbourne that made me laugh way too hard.

[@lukeneill1568]

Yeah less than half of what I get paid for being productive 😂 then wonder why the economy went to shit whilst producing sweet f all because they pushed known lies about a cough

[@StormLord-AOS]

I stand by my whinging. amen

[@pogchog6766]

All good till you got a mortgage to pay, kids to feed, university tuition to cover. Forget saving to actually invest in anything you believe in for the next 3 years.

[@dilbopillobobip7528]

​@@lukeneill1568 the only lies pushed were those of fringe right political parties (palmer), and blue color aussies with gigantic egos who all suddenly became medical experts thanks to facebook graphs. Also there was the whole "freedom of choice" argument which was a complete psyop/falacy propelled by said fringe party. Sometimes our initial reaction to things is actually a reaction people will make money off, but.. thats not MY reaction, right??

[@ChrisKotra]

I bought some smiths double crunch last night and at the self serve checkout, I dropped a coin. I bent down to pick it up and there were coins all under the checkout machine. Just a tip for you guys struggling to purchase smiths double crunch.

[@Seajack64]

Does this work for regular Smiths chips or is it only for double crunch?

[@scottneil1187]

You can still get Smith's crisps?!, not seen those in decades.

[@blank.9301]

The Dave Husey voice spot on bruz

[@macytorro]

Like everyone else my rent went up because of “cost of living” - from $480 a week, TO $700 A WEEK. This is for a pretty shit one bedroom apartment, and at a 44% increase made me effectively homeless as I’m on disability support pension… yeah so much fun I love living in Sydney

[@jamieduggan4297]

700!!!! WTF

[@Shard113]

And I thought we had it bad that it has gone from 530 to 630 for two beds.

[@madamebkrt]

That's horrendous. We went from $740 to $800 and we thought that was bad. I mean it is...but my goodness a $220 increase should be illegal.

[@davemiles4304]

Thousands more immigrants , air bnb to name a couple of reasons why there's no housing . Local government red tape on development is another one.

[@apk4381]

At least your face mask will keep you safe though

[@rwv12355]

I love that you take super important issues and make them both digestable and entertaining

[@LokiBeckonswow]

Damn straight, every country deserves someone to call out the bs like this, long live independent journos!

[@rwv12355]

​@@LokiBeckonswow a lot of the times he does it globally too which is nice for an American dummy like me haha

[@accountfake1070]

Entertaining ? Yes. Telling the unbiased truth ? No. Did he call out the labour gov for not having a balance budget ? For not adding more currency into the economy, thereby fueling inflation ? Telling a half truth is still a lie.

[@dan_der_man3629]

Frozens going from $1 to $2 are making me go bankrupt

[@Tokomi]

It sounds silly at first but if you do the math in the long run you'll see the the small numbers add up and realize how much more expensive it really is.

[@prod.german]

@@Tokomi Aldi lasagna was $8 2 years ago, its $12 now, big sad

[@fireassassin1688]

Large chocolate sundaes from maccas used to be $2 so instead of 4 for $8 now it's 4 for $18

[@Nemean-se5k]

@@fireassassin1688 maccas soft serve cones used to be forty cents each, what are they now? a dollar fifty?

[@AJWRAJWR]

​@@Nemean-se5k Mate, they were known as 10 cent cones growing up in the '90's/early 2000's.

[@SirNecro]

We (Australia) have , and are currently making the property bubble mistake. Interest rates have risen 13 ? times yet property prices are still rising. There was a property advertised here in Victoria (Mornington Peninsula) as a weekender for close to $2 Million. So that says either, there isn't a financial crisis or there's a massive property bubble that will eventually have to burst

[@Pepperoniman776]

The problem is that interest rates only immediately effect 1/3 of the population. Eventually this flows onto renters as well, however for the 1/3 of the population without a mortgage there is absolutely no downside to rising interest rates. Just better returns on your investments, so all those rich ones that need a new weekender on the peninsula can get some of the limited supply of housing while all the builders go bust.

[@SirNecro]

@@Pepperoniman776 incorrect. 1/3 of the population are taking the mortgages on 2/3 of the property market. As you said, the flow on affects are that as interest rates rise so do rents. Eventually it will get to a point where people simply cannot keep up with the rents. This in turn will lead to an influx of properties into the marketplace and once the property market becomes crowded because investors are dumping their debts the follow on will be a correction in prices. This is essentially what happened in 2008, and it's going to happen again

[@curtisturley7]

Pop!

[@De-gene-erate]

How could this property bubble burst given the extremely high demand for housing though?

[@SirNecro]

@@De-gene-erate if there's an extremely high demand for property why have the biggest builders in the marketplace gone into receivership?

[@mpecresident]

No Australian company should be sold to multinationals if they dont pay tax in Australia.

[@Mohroka]

Say this again, but insert country here, like, "No "American" company should be able to operate in other countries without paying taxes in all countries applicable, including America."

[@dancamplinmusic]

That has to be the best Dave Hughes impression in human history

[@djingo1309]

$1 7-11 slurpees are now $1.50, can't believe this shit.

[@_JC_21]

It's bloody outrage I tell ya

[@lachychops2]

50 fucken percent?? Tell them they're bloody dreaming mate

[@suenzhong7891]

I don't drink slurpees anymore but the price McD's ice cream had gone up by 200% since the 2000s.

[@13bro45]

tell me about it mate frozen cokes at maccas are 2 bucks now. and me favourite hjs burger, the chicken royale, has gone up to $3.50. What the fuck!!!!

[@husky7357]

I’m fuming about the frozen coke and the slurpee prices

[@bronte7972]

My rental was advertised for $250 late 2021. Because the owner repainted this old house (poorly), it was raised to $280 a month into me living here. And the start of this year when i renewed my lease, they’ve upped it to $290. Like. Fair, up it if you’ve improved the house, but this house really hasn’t been improved. Im in a very terrible part of my town. So lower price is kinda expected. But the fact that they are raising it yearly for no reason is getting ridiculous. Im still lucky to live in a cheaper rental. But soon enough, it’ll be the same price as all the new houses in the better part of town and i wont be able to afford this shitty old house…. Literally no reason for them to be upping it.

[@H3kler]

That Hughes impression was high caliber.

[@kodytourelle]

Im from New Zealand, the other day there were some pretty insane numbers that got released, Supermarkets make a 55% gross profit which up about 20% from before covid...

[@adz6539]

wtf!

[@kyle340ify]

Highly doubt that considering the graph showed in this vid shows supermarkets at 26.5% gp in aus. Nz won’t be that different to aus

[@zabvza7457]

@@kyle340ify what are you basing that on ahah

[@kyle340ify]

@@zabvza7457 that GP doesnt magically double in a similar society a few hours east

[@zabvza7457]

@@kyle340ify why not?

[@lawdpleasehelpmeno]

Remember this video when after EOFY the media starts popping off about a "consumer recession". Make no mistake, companies are cashing in at levels never before seen on the inflation meme, as Jordies highlighted. It's only everyday Aussies who are suffering.

[@sunsetgarage755]

Best Dave Hughes impression 😂 hands down! Who said this guy can’t do impressions?

[@janeblogs324]

You have to be fair though, he's the easiest bogan to impersonate right behind Chopper

[@coreoYEAH]

The courts apparently haha

[@Itherael00]

Fun fact, our budget and such is based off average incomes in Australia, meaning from bottom to top average is 100k a year....Where as it should be based on median average, which would be around 45-50k so already saying we have double the amount and that's why members of parliament get a bonus and then tell us to get a housemate .

[@healthymindhealthybody9692]

It's probably the most disturbing thing I've heard from parliament, get a house mate !!! I'm like WTAF DID YOU JUST SAY , YOU MOTHER FUKER

[@attilajuhasz2526]

That was a quote from a banker, but otherwise, yep.

[@planetdisco4821]

I followed this recommendation and got a housemate and she’s currently 5 weeks late with the rent and spending most days locked in her room so it’s working out really well for me so far….🙄

[@lukeneill1568]

@@planetdisco4821 sounds like the start to a pornhub movie

[@healthymindhealthybody9692]

@PlanetDisco The government needs a good kick in the ass . What if you had a pedo renting ect What if the renter was stealing your information and selling it What if your renter burns you place down . Nothing comes good of this pathetic scheme

[@grandmothergoose]

The most recent whinge of the reserve bank is now lack of productivity. To use a metaphor: there's only so many apples that a tree can grow no matter how much water and fertiliser it's given, and when no one wants to buy them or can't afford to buy them, of course productivity is going to slow down. And they're all panicking about going into recession - at the rate things are going, I think that's exactly what we need to have happen, one hard fast painful but short recession to pop the inflation bubbles that have been created by the pure greed of major corporations and housing hogs.

[@ivanolsen8596]

Spot on, Mother!

[@participant2751]

You can re-frame this to be the cost of everything expanded but your earning power hasn't. Imagine a pizza and you get one slice. If that pizza has 8 slices, that's an acceptable slice. Now it's cut into 100 slices. It's still 1 pizza, but your slice is pretty insubstantial. Things didn't get more expensive so much as you got poorer. There's no shortage on things, you just can't afford them. Basically you now functionally earn less, and anything you have saved is also worth less. Thanks management. yay 😐

[@kingsarues1586]

Except things got more expensive alongside you getting poorer because businesses have a bogey man to explain away the price increases that had no effect on the business.

[@connordarvall8482]

@@kingsarues1586 So it's more like you split the pizza so that everyone gets 2 slices, but one guy said "My pieces shrunk, so I'll need to take one of each of yours to make up the difference" before taking a slice from everyone You now have pizza equivalent to 1/12 of the original amount you were going to have and the jerk in the room now has half the pizza.

[@HelmetmanTheSwede]

6:30 yeah in Sweden basically all the big food companies did that, after that was revealed on national news after an investigation they got a shit ton of bad-will; as if that wasn’t enough a few of the smaller companies that still aren’t local so basically the smaller of the big companies started cutting prices gaining a shit ton of customers, they gained so much goodwill and new customers that their profits increased despite them having cut prices. And before you say something about them doing it only because of the investigation or something along those lines I want to tell you that they were cutting prices years before the investigation began and have continued doing it during this huge inflation crisis.

[@AndrewWilsonOz]

In under 3 years, the major supermarkets, have increase prices by around 40%+, claiming increased costs, yet their profits are up, not down, well above previous operating costs/profit. They are gouging, and expect us to swallow the line, that they too are suffering. I don't see them paying a heck of a lot more to farmers, or other food manufactures. It may be legal, for now, but it sure is not moral.

[@sehr1515]

I want more of that dave hughes impersonation

[@gormold4163]

He keeps saying not to look for his house as if he has had a bad experience with someone figuring out where he lives.

[@sirreoser5668]

In a way I agree with your tradie idea, I know tons of tradies who're all jumping back and forth between who offers them the most money. Know a fencer who's nearing 6k, carpenter 4k+ last time I worked during mid covid I was getting 3k a week just for painting. (we are mid 30's though). There's even people who have had major injuries coming back out of retirement because the pay is that good atm. (From Perth, so slightly higher pay rate I think+ demand) EDIT: I will argue though when things started opening back up around covid a lot of physical labor jobs had serious pay increases that I noticed. Not many people wanted to get back to work, I was offered $40 an hour to just drive a forklift around a freezer moving pallets of kiwi fruit, cherries, blueberries and mandarins. Nd I'm not a smart guy, I had to use auto correct for some of them fruits.

[@sniff7276]

Holy fuck that dave hughs impression was so convincing i started to check if i had all my teeth.

[@DrippyWaffler]

Chomsky was good too haha

[@krisseraph]

Jordan doesn't get anywhere near enough credit for what his true talent is, such a solid dave hughes impersonation

[@DownUnderTechReview]

Anyone else think a large supermarket chain should not be having 25%+ gross margin? That sort of basic necessity should not end up with the same margins as JB Hifi. It's food you pickup yourself, scan yourself...can we get some forced competition in here ACCC?

[@resourcedragon]

There is another issue in relation to inflation that doesn't get discussed enough: the use of interest rates as a tool to curb inflation. There was a sheila on the news the other day rabbiting on about how "Inflation isn't under control because some people still have savings that they are spending and so the Reserve Bank will have to keep on raising interest rates until they stop spending." Apart from the fact that she reminded me of some of my less likable teachers - the ones who wouldn't let us go home until everyone, including the disabled kid who was physically or intellectually incapable of doing so, performed some arbitrary act; it seems to me that the use of interest rate rises to stop people spending is a horse's arse. Rich people are just that: rich. They have savings, they can keep up their payments, at most they may need to make minor adjustments to their lifestyle or accept that this year their wealth grows a little more slowly than is usually the case. So if you want the rich to alter their behaviour, you should target them, not the people at the lower end of the heap. For regular people, interest rate increases look like someone trying to put out a fire by throwing accelerant on it - rising interest rates force up the cost of housing. If you ask me, jacking up interest rates _at best_ eventually crashes the economy, something like Keating's "recession we had to have", rather like someone looking pleased about a multi-car pile-up on a freeway and saying, "Well, at least it's got them to stop going over the speed limit."

[@SkigBiggler]

The thing about rising interest rates is that it discourages people from taking loans from banks, which is where a lot of money is “created” since banks operate on a fractional reserve basis, I.e for every dollar they have stored, they can lend out 4. Inflation is normally kickstarted by “free money” being printed, and then spirals out of control from there, but if you have banks still offering low interest loans to whoever they can, since it’s profitable for banks to do so, there’s little hope in controlling it. It’s also worth noting that a lot of the time, the Reserve Banks interest rates are not connected to typical home loans or anything directly, it’s about the interest rate they charge banks for buying government bonds, and the idea is to “disappear” money by having it returned to the reserve bank. It removes tender from the system. However, commercial banks tend to increase their interest rates alongside the RBA cause otherwise they might make less than all the money. Essentially, you can’t control inflation if you don’t raise the interest rate on government bonds, because if they’re low enough, it is free money for banks, and results in massively increasing the money supply. The way the economy works is complex, and in my opinion, mostly bullshit, and I’ve almost certainly gotten some facts wrong, but I guess the main point is that not all interest rates are the same, and the ones that are key to reducing inflation are the interest rates on government bonds, which Joe Bloggs can’t get anyway.

[@jujian108]

I love your videos. I don’t really know a lot about Australia too be honest, but I do understand the plight of the worker.

[@ingodwetrust1987]

I agree with you with majority of things but as a landlord my land tax has gone up by $1800 and council rate went up by $1000 a year and loan repayments have gone up by $4000 per MONTH. This is for 3 properties now that's a total of 50k+ extra per year, so I have 2 options either I sell or I put up the rent by $50 per week.. I don't make that much to tax deduct so what would you do?

[@ruffledfeathers8716]

I'd sell some while the markets high before it crashes. But that's just me 😉

[@iamarchibald]

My school canteen now charges $1 for a single Tim Tam. Used to be $0.50, now $1. Bloody ludicrous.

[@la7418]

Buy your own , and don’t buy from canteen (what a rip off) they are 1/2 price this week . We now buy big bags of chips when on sale and divide up into snap bags for kids school lunches. Can’t afford to buy boxes of kids school chips anymore , hence our new method means they don’t miss out . We can’t even turn our heater on … and the fridge got switched off recently. We use an esky now! This is crazy!

[@bigdmcgee101mikwilla7]

Its almost like friendlyjordies either had no clue or forgot that during covid. Planes got shut down so we only had ships. And the price to bring a container over on a ship doubled in price during the pandemic. Which i can see as a massive contributor to the inflation

[@Chrispy89]

I wholeheartedly approve of your renaming of our national Airline.

[@ivanolsen8596]

Yes they have certainly earned it, the current management is working hard to retain it.

[@MrSquidshark]

Congrats on the new Labmro bro! Your on the fast track to be the next shellionaire

[@Jessica6J6]

Catchphrase "Cost of Living" has now moved onto "Productivity"

[@synapses9973]

Remember when you could afford a home with a $60k income? Pepperidge Farm remembers.

[@francisbrooks8533]

Look up Tarric Brooker for his explanation about the "Burnout economy". One foot slammed on the brake. The other foot flooring the gas.

[@kierans777]

Tarric knows what's going on. So does Matt Barrie.

[@yt.personal.identification]

Record profits for price gouging companies is what is causing inflation. So they increase OUR interest rates. PRICE GOUGING IS BEING ENABLED, AND WE ARE BEING SCREWED. They raised prices, so corporations can collect all the shells, and the prices have stayed high after the shells ran out.

[@jordywatson7829]

Yep and Albo gave us rich people $69 billion in tax cuts whilst taxing the poor more, so good hey how they screw over the people ensuring the rich get richer.

[@_nebulousthoughts]

Fractional reserve lending. A bank is only required to be holding and % of the money they lend. Meaning the money you loaned didn't exist before you borrowed it and it doesn't get cancelled when you pay it back ergo. Every loan equals inflation.

[@mike-hunt3527]

Did corporations suddenly get more greedy over the last few years?

[@stagnantwater3775]

@@mike-hunt3527 they saw a golden opportunity and took it to the moon fucking all of us over

[@mike-hunt3527]

@@stagnantwater3775 @coollambo7926 Pretty sure its the money printer going buurrrrrr and increasing the monetary suppy that's fucking us over because the government can't control spending.

[@Cassidyhunt]

Just spent $160 for 4 bags of groceries... yay...

[@Cyromantik]

In here from Japan, we're toast! Economy slack for 3 decades, wage raises on hold for the past 5 years on the conservative, and a thing of eggs at the market went up 300% in the past 2 years. Guess what I saw during CVD? Supermarkets getting facelifts, industries peddling what people absolutely need basking in profits. It's like the coffin maker's already making a killing but they're raising those prices why? Because they can.

[@slavmagician2898]

Where are those $6 pork roles, I’m paying $12 at my favourite place lmao

[@GGPiani]

100% agree on tradies. Had a gardener come over to quote deweeding and whipper snipping a place I'm renting. He said $500 at $100/hour for a fucking 400 square metre plot, of which 80% is patio. When I asked why the cost was so high and it'd take so long he just said "inflation has made my operating costs go up" 😂😂😂😂😂😂

[@mckdogdrums3543]

Our landlord is QLD main roads transport department that bought out a lot of the street for a future road. It’s not a traditional landlord but the government owning it and they have bumped our rent up by $190 a week. This is on the Sunshine Coast where homelessness is at an all time high here and probs neighbouring shires. Also find it crazy that the indexation rate this year is now at 7.1% so you are paying a lot of interest for your study if you happen to have a degree where you aren’t earning much towards paying the hefty interest. As living on the coast and working for the coastal companies isn’t the same pay wage as say a City job.

[@jamesmatthew1903]

American here. Visited Aus in 2009. I was astounded the average McDonalds (or makas as you say) worker made $20-$25 AUD an hour. At that time in the US, the same worker made ~$7.00 US (which was worth less than the AUD then). EDIT: maybe that's just Sydney, but what I said about $7.00/hr US stands for NYC at that time.

[@ruffledfeathers8716]

That's only the adult minimum wage in 🇭🇲 though. Maccas mainly employ younger teenagers who get paid a lot less till their 18 years old, rinse and repeat the cycle 👍

[@jamesmatthew1903]

@@ruffledfeathers8716 yea but that was wild to me because the AUD's purchasing power then was nearly double the USD. So for me it was like maccas workers were making $50US/hr. Which is 100K/year. Which today with inflation would be like 250K US / year.

[@СлаваССС-м4с]

You came all this way to eat or ask about maccas. You goeber yank lol

[@ivanolsen8596]

@@СлаваССС-м4с I would go all that way NOT to eat at Macakkies.

[@LTLT900]

MacDonald's restaurants are a blight on the landscape!

[@Atlastheyote222]

You wouldn't believe how bad it is in Tasmania. I'm about to move to Sydney for work and I expected it to be expensive, because everyone says it is, but I worked out its actually cheaper to live in North Sydney than it is in South Hobart...

[@williamfletcher934]

I had to move back in with my parents after living in an apartment for 2 years. My $269 weekly rent was immediately bumped up to $450 and I couldn’t afford it. If it wasn’t for my parents having my back, I would literally be out on the street right now.

[@jaderhianne]

Um okay mate, you gotta work on your inflation knowledge. Raising wages (TWICE now in >12 months) INCREASES inflation. It doesn’t soften the blow. Business’ have to pay staff. Staff are the most expensive cost of business expense, accumulative and compounding with more staff required. Expenses increase = profits decrease. When profits decrease, product prices increase - or the business CLOSES. By Albo going “aren’t we nice, we giving you more money” they know all too well that the flow in effect is products/services cost increases so when we go “why is everything so expensive” Albo can point over there and say “it’s not my fault, greedy business’ made it expensive.” The fix is for Gov to get out of deficit SPENDING and actually SAV tax payer money - come under budget. Fewer projects, focus on the essentials not the wants. We blew through MORE money than we had through lockdown - now our grandchildren will pay for it.

[@vrubin]

An abandoned restaurant I saw sold a full egg breakfast for $5 and steak for $7. Coffee was $0.90, soda was $1.

[@Spentastic]

Is that in America? In Australia we call soda soft drinks

[@gobcity]

One of the funnier videos in a while

[@liquidpixel2055]

The Dave Hughes impersonation 🤣👏👏👏

[@MrRadialdrift]

My rent has gone up 4 times in 2 years, and the landlord owns at least 3 properties. The next increase, in August, is %15, yet my pay hasn't gone up even 5%. I am so over the greed of people that own multiple properties.

[@Lyysabeth]

I'm somehow a part of Coles Circle, they have an activity where you can ask the CEO a question directly... might ask her why they think the blatant profiteering is ok lol

[@weareallofprey]

My favourite part of a friendly jordies vid is the lofi melody that plays at the end over the top of his live ads. It's really wanting for a massive drop, but kudos to the sound producer, they just let it slide like a Sega game.

[@jameshartley8203]

Can we rename this to the Corporate Greed Crisis?

[@ivanolsen8596]

Corporate greed? Hell no, its worker greed, ask any poorly paid CEO.

[@tomcowell3700]

Corporate greed and government giveaways make the economy less about supply and demand and more about ask and you shall recieve

[@aussiviking604]

A logistics manager from one supermarkets. Said it was like Christmas just about every week during covid. They used just chisel you, then they start gouging. Now they say bend down and touch your toes.

[@QuigsAnton]

Our workplace is fighting hard against salary increases, they're completely focused on it.

[@nathansykes4287]

Of course tradies have to raise their prices, cost of materials and other items essential for doing the work has gone up 100% in some cases. And those increases are the ones getting blamed on ‘supply chain issues’.

[@BeanisBags]

This isn't a Warhammer 40k video Jordies...

[@lawdpleasehelpmeno]

He's clearly waiting for the new edition to give his full in depth leviathan review.

[@BeanisBags]

@@lawdpleasehelpmenoWell... he could more easily paint ACTU colours onto the marines... maybe he should

[@BoogerDad]

Landlords also bank on the excuse that they can take a loan out for a mortgage on a second home and then justify the cost of rent by complaining about the interest rate on their investment, while you pay for their old property that they do the bare minimum of maintenance (if that). Also, in Canada at least, the waiting period is longest for rights violations and maintenance disuptes against landlords while they complain about the length of time it takes to get the cops to evict their tenants for missing a month of rent.

[@bobbah676]

Mostly every supermarket, Power company and such all have made the biggest profit the last 3 years then ever... They tell us, they are paying more for goods, but and the same time celebrating unbealivable profits...

[@FarrellyLiam]

Nope - releasing more currency that’s not the driver of inflation in Australia, in fact reducing the amount of currency when inflation is caused by supply chain issues hyper-charges it. And that’s exactly what’s happening. But granted, the self fulfilling prophecy is a big part of the story.

[@0ptimuscrime]

Hey Albo, it’d be awesome if you, I dunno, broke up Woolworths and Coles, or put a freeze on rent increases while the RBA is telling everyone to take one for the team. Maybe the greedy bastards feeding inflation can take one for the team for a change

[@madamebkrt]

Absolutely, I really want to keep supporting Labor bc there is no other alternative but it hasn't been easy this year.

[@Jim-yk9zw]

Time to realise its a two party corrupt system. We lose no matter who wins.

[@jacobstanley7089]

I lived in eagleby. My rent was $365 a week. It got upped to $510 a week 5 months ago. We moved out…

[@sunidollfun]

My blood boils seeing the ad for Coles asking the public for donations to help those in need. Open your own wallet for once, Coles.

[@spekks6315]

They do donate - just enough to reduce their tax payable

[@PacificBird]

​@@spekks6315they don't donate, they take YOUR money and donate it under THEIR name so they can get FREE tax write offs

[@billyshane3804]

Albomochio will fix it. Just like how his powerhouse ICAC has brought Scommochio and his minions to justice.

[@Adam_The_Goat91]

Ironically it should be called, Cost of not living

[@Falln06]

Albo increasing minimum wage was a factor in the RBA’s most recent rate increase. I’m not strongly for or against either political party but Labor has done nothing to reduce inflation since they’ve been in power. They just blame the previous government…..

[@shanes5538]

And Labor COULD solve it by taxing these companies at punitive rates and then using it to subsidise the products, but they don't have the balls to so much as stub the toe of their donors.

[@vincentchauvet6654]

important to note this !!

[@Jim-yk9zw]

Yeah I thought now Labor was running the whole nation we were in our way to nirvana 🙄

[@ronaldronz4599]

​@@Jim-yk9zwthese losers don't get it 😂😂😂

[@quoryx1165]

Same story in Lithuania groccery stores raised prices at the start of the war and you look at that record profits aswell, how strange, its like they are all crysis profitiering.

[@yeetyeet7070]

actually clickable Title: "The Absolute State of LIVING"

[@Apoc5k]

That's an excellent Dave Hughes impression.

[@turbostyler]

Why didn't you mention the 400k immigrants set to come in and apply more inflationary pressure? Which party have that green light? I'll help Labor. Labor also did sweet FA to stop electricity prices spiral out of control due to no gas reservation policy which contributed significantly to inflation. If you're going to give props you also need to let people know where they can improve.

[@alistairandhailey]

That Hughesy impression was amazing

[@rocko34]

Cost of living in the uk is insane now. Everyone I know is struggling to pay their bills let alone do anything or travel anywhere or buy themselves anything

[@scottneil1187]

It's bloody madness mate innit?, energy companies etc are making record profits, we have a multi millionaire out of touch scumbag for prime minister, Amazon etc dodge paying what they actually owe, we're screwed.

[@lumcal]

That might have been the greatest Dave Hughes impersionasions i've ever heard

[@santinovitale2370]

Haven’t seen your content in years, thought I’d give it a go again. Always mostly great but then you pull the Labour Party shill piece and it wrecks a perfectly balanced and entertaining commentary.

[@BethDoublekickChick]

We rent a "villa" , which is a fancy way of describing a 3 bed, 2 bath unit in a set of 4 units on a tiny property. Several m9nths ago, we received notice that our rent was being raised and we were given the "option" of either a one year lease at a higher rate, or a two year lease at a lower rate. Both of these rates were well over $50 / week of what we've been paying. They justified this by saying "well, everyone else is doing it so you have to aswell" Our rent went from $330 / week to a whopping $410. The owners did this to all 4 "villas" and fugg knows how many other properties they own. Atleast we're not homeless I guess 😅

[@Benvelope]

Damn, Jordie's got the Dave Hughes cameo

[@evanpage2540]

Major supermarket brands get record profits and yet internally cut staff to skeleton crews and refuse to invest in any resources to assist stores function

[@TihetrisWeathersby]

Something we can all rant about, Cost of living

[@Nightenstaff]

As soon as a business has a publicly accepted reason to raise prices, it will. And that's really the end of it. Doesn't matter if the reason is real or not, it's all about perception.

[@neverleverland5685]

Buying bonds at the lowest interest rate possible screwed everyone, and was deliberate.

[@BlackHawkDownUnder]

Dude started so strong only to be caught holding the ball in the forward 50m. Yeah inflation was going up before Ukraine and before c-19 as a result of constantly increasing government spending and wealth creation by the RBA which is only made possible under a fiat currency system but I seriously don’t believe that businesses are all of a sudden greedier than they were before. Definitely not doing anything to improve things for people but I suspect that costs have gone up higher than CPI reflects. While I agree the liberal party have dropped the ball massively on this I don’t believe labour is the answer, their election promises all involved massive government spending and also enacting policies that will drive up costs even further (I.e. net 0) and without bringing back fiscal responsibility the problems will only get worse from here.

[@DarkHedx]

Best Dave Hughes impression ever

[@spamviking]

I live in a one bedroom unit in the highest crime rate suburb of my city directly under the landing pattern of a local airport and my landlord has decided it's worth $350 a week... It's worse for the 3 bedroom unit nextdoor they're up to $500 a week

[@jojacobs305]

No one is talking about the fact I am being paid the same wage as I was in 1998 ($28/hour) - back then I was a lowly resort cleaner…. now I am a receptionist for a private radiology practice 🤷‍♀️ inflation needs to happen to keep the economy going but wages need to move too

[@rainchopper898]

Inflation is not necessary. to "keep the economy going"