Business Confidence Slumps in Bad Omen for Australia's Economy

[@timothydevries383]

Only houses and holes doesn't make for a resilient economy.

[@Yolo942]

As long as the average house price is close to 1.5million most home owners are happy.

[@kdegraa]

@@timothydevries383 plus nursing homes and new migrants.

[@gikigill788]

​@@Yolo942House prices can fall.

[@nikosbalakos6525]

​@@Yolo942and non homeowners are not so happy

[@yesand5536]

@@Yolo942 Too easily satisfied "Maaaaate, just got my 4th investment property"

[@razorramon4493]

We need to make energy prices go down drastically. This will boost domestic manufacturing. I cannot comprehend how one of the resource richest country in the world with relatively small population has such an expensive energy.

[@seekhearts]

because we overpay for the gas and coal mined in this country. two months ago we were hearing news of a gas shortage yet were one of the largest exporters of LNG

[@robb5642]

It's essentially t r e a s o n against the people if the Government gives away resources to foreign interests for no charge. This should be questioned of our politicians every single day but alas the MSM is in on the grift.

[@Jackson-rf6rv]

The answer is simple. Corruption in Canberra.

[@robb5642]

Imagine being in this position where a Government gives away our energy resources to foreign interests for FREE And at the same time, spends 500M on a couple of new Airbus Albos, 600M on a PNG rugby league team, 220k extra on top of a 500k salary for a new Governor General because she didn't have the military pension additional incomes her predecessors did. A Billion to Ukraine, not to help stop a conflict but to keep it going - and for what, democracy? - don't think so.

[@andreandnadya]

Stop relying on natural resources and waiting for house prices to go up. This country needs real change!

[@Jackson-rf6rv]

Too bad everyone keeps voting in the corrupt trio - Liberal, Labor + Greens. If people finally started voting for something other than these self Serving rats then the country will finally move in the right direction

[@darylroughley2807]

The Australian g’ment is the cause of inflation….too much spending.

[@russell3038]

And wasting tax payers money

[@stevep9041]

If we’re waiting on China to help we’re in major trouble.

[@zeitgeistx5239]

Lol your economic boom for the last several decades has been entirely dependent on China's voracious demand for raw material from Oz. All those mines in Western Australia are fueling a single country.

[@lovechineseforever9434]

PROSTITUTION

[@buildmotosykletist1987]

Aussies need to stop trading with China and we are doing just that.

[@DavidLockett-x4b]

The Chinese can't even help themselves.

[@lovechineseforever9434]

@@DavidLockett-x4b CHINESE DOING BETTER THAN YOU OZZIES

[@naou4030]

An economist on another vid made a comment that you can boost the number of Baristas working at a Cafe but if you still only have 1 coffee machine you don't get much increase of productivity (Baristas will have to wait on standby for that 1 machine to work) I think that analogy really sums up how this immigration boom has stuffed Australia's economy up.

[@terryspry8482]

Riding of the resources boom Coat tails for too long. For six months, I’ve dealt with the same traffic lights having issues. Main arterial roads barely patched with dirt let alone bitumen. Australia is broke! Matt Shervington just hasn’t let you know in the morning while you eat your toast and sip your Coffee.

[@georgecaplan11]

Inflation caused by the government overspending.

[@R3fLeCt3D]

@@georgecaplan11 he literally said in first 20 seconds that demand decreased and supply decreased (free market). So only way to help economy is government spending . Because if average bunnings Australian doesn’t go to k mart or Bunnings but saves then somebody needs to prop up the economy to cover Bunnings John . Which is where government spending comes in . Inflation is falling none stop last 2 years

[@brendanscully5787]

what happens when you redistribute hard earned wealth......

[@buildmotosykletist1987]

A good example is 'Low Wage Earners' being forced to pay for childcare of wealthy bureaucrats on $500K a year.

[@UncleFakaz]

Heard a burrito in Sydney is 30+ kangaroo bucks. Printer go brrrrrrrrrr.

[@overit1865]

Heard a simple pack of smokes is 60+ kangaroo bucks….lucky I don’t eat, drink or smoke 🙈

[@jimbothegymbro7086]

unironically it's cheaper to buy a pizza and eat it over a couple of days than cook spaghetti Bolognese

[@bf1942donnis]

​@@overit1865shit example, exaggerated and that's due to tax, not inflation

[@overit1865]

@ Tax or inflation = erosion of your savings, what’s the difference. The post injects humour, nothing to get hung about 👍

[@rof8200]

Government spending is crowding out the private sector, so productivity is cratering in Australia

[@MrAnderson3]

Its funny how the RBA is looking for higher unemployment at a time where things are so expensive people are working 2-3 jobs just to maintain what they have while the government keeps creating government jobs and the private sector is flat.. Maybe they should be discussing that with the government before saying the Australian economy is "resilient"

[@Clluthu]

They aren't looking for higher unemployment that isn't their mandate, they also dgaf about the interest rate. They only care about controlling inflation, they set the rates to try to control inflation. It's easy to think that their function is to look after landlords and home owners, because that's the only thing that the news seem focuses on.

[@Loki-sk7bi]

Australia has an addiction problem. It’s not good for all of us.

[@origanami]

Why would you risk your capital investing in growing a business when you can get risk-free returns from property? If risk returns to the property market, capital will return to the business sector. The only way to achieve that is to cut net migration.

[@yesand5536]

"The only way to achieve that is to cut net migration.", so basically, don't do ANYTHING about the NIMBYs, release of land, Council bank up of DA, labyrinth of bureaucracy to get something approved, our skills shortage/need for overseas workers/Australians only doing jobs if they are easy and glamourous, refusal to invest in infrastructure beyond motorways for the last 50 years? ONLY think about immigration?

[@yesand5536]

You also don't just get a see-saw effect of property to business, because if people don't have a general awareness of risk and business, then why would they bother? They're never, for the most part, moving away from property. "Maaaaaaaaaaate" doesn't work with "I just invested in 4 brick and morter businesses"

[@origanami]

@@yesand5536 you do understand that when you're facing supply issues, you need to cut demand or prices will rise, right?

[@origanami]

@@yesand5536 Some stats for you. In the US, property sector is $131k per capita, and venture sector is $452 per capita. In Australia, it's $426k and $98 per capita respectively. All numbers in USD. Can you see that we're off by a factor of four in both? And you think these aren't connected?

[@DavidLockett-x4b]

Dump negative gearing on residences.

[@davehad-enough2369]

Meh .... it's a Labor Government ... you knew it would happen and you still voted for them. Enjoy.

[@buildmotosykletist1987]

Only 32% voted Labor, most people didn't.

[@lambertgiang]

That is what late Henry Kissinger said it is Fatal to be US Allies and how Effective it turned out.

[@George-xb5ey]

My sister just sent me a photo of her in Thailand with her friend having dinner a four course meal for $13aud you can't even get a kebab on it's own for that here

[@DavidLockett-x4b]

Australia used to have real men who stood up for their families and their rights, today however there are no real men in Australia, the government says jump, and Australian men ask How high?

[@deniz6476]

We need John Howard and Peter Costello back in power

[@DavidLockett-x4b]

We need to have a real man in power, and not a bunch of monkey's and clowns.

[@gthreesix]

So do Auzzy want China or not?

[@buildmotosykletist1987]

Not. Stop trading with China.

[@russell3038]

Not

[@Krustyclown5791]

repeal all the taxes on products you've taken things from millions to billions. smokes went from 500m to 12 billion but Healthcare costs us billions now so it's hurt Us but we dnt even want to recognize it. it was cheaper to Not push prohibition with tobacco it's costs us probably 100b billion from our market over 10+ yrs as where normally it would have cost us 10b . 90billion is alot let alone all the crime its generated .

[@FinanceStoryTime]

Nothing is easy under freebie giving Albasleazy

[@rogerzhang5993]

I'm a leftie but jesus christ has he been a disappointment

[@FinanceStoryTime]

@ can’t give entitlements out like that. Will destroy the economy and the people. Look at the UK - becoming third worldia very quick

[@Clluthu]

Both sides are terrible.

[@mathewbuckley5619]

These structural issues been going on for much longer than albos term

[@Creativenativesaustralia]

@@FinanceStoryTime It’s literally the same two parties that got us here. Time to vote for someone else. The main two only serve themselves.

[@crusader6962]

We need cheaper source of energy

[@ichrisone]

Capital is fleeing Australia. You would be silly to invest here. Induced excessive regulation.

[@gikigill788]

@@ichrisone No it isn't, check past 12 months of FDI.

[@buildmotosykletist1987]

Rubbish, despite this corrupt Labor gov't investment is strong as investors know Aussies are smart, hard working people.

[@gikigill788]

@buildmotosykletist1987 Compared to the Morrison govt, it's 15% higher and compared to the Turnbull Govt it's 35%higher. Let's not even compare it to Abbott 😁😁. Albo has been on his jet getting Europe to increase its FDI.

[@buildmotosykletist1987]

@@gikigill788 : Nope. What are the numbers under those leaders ??? Albo fails as usual.

[@ichrisone]

@ Europe’s share of the global economy is so low that the continent is for all practical economic purposes, irrelevant. Read Mario Draghi’s report of admission on that. You are quoting numbers not adjusted for currency debasement. 80% of dollars in existence have been printed in the last 22 months. So if you’re up 35% and money supply is up 80%+++, you’re down 45% in actual terms. It’s a disaster, growth needs to be multiples higher just to sustain quality of life.

[@lovechineseforever9434]

NO CHINESE MONEY TO HELP

[@calebnguyen4536]

With labour inflation in Australia on the rise because every single union is going on strike for higher wages, no wonder our productivity is in the gutter.

[@DS91284]

Nah moite. Strikes are not the source productivity nosedive. Nah bro, it's reduction in immigration numbers, corruption and mismanagement.

[@theBeat2]

About time that our wages increase.

[@jimbothegymbro7086]

@@theBeat2 functionally wages could increase or the price of things could decrease, they really should be focusing on housing as it's easily one of the biggest expenses people have

[@adiintel1]

Dont theh want house to go up though they already brought in over million people to keep the illusion all is well.​@jimbothegymbro7086

[@tingtong5898]

Inflation was much higher before Labor came in. The damage was already done. Wages need to catch up.

[@Starcraftmazter]

Productivity is bad because of the NDIS black hole, worst Labor initiative ever.

[@arjundilip1543]

@@Starcraftmazter sorry mate, can you expand what you mean by the NDIS blackhole?

[@jimbothegymbro7086]

@@arjundilip1543 government basically threw money at the NDIS for both training and wage subsidies, mainly to appeal to old people at the expense of the young, which not only wasted money that should be going somewhere else, but also took workers and expertise

[@arjundilip1543]

@@jimbothegymbro7086 if I understand correctly, wage subsidy is when the government subsidizes the cost to companies in hiring people with a disability, am I right? I think it's capped at $10,000. Surely that's not why all of Australia's economy is slumping? Also, how does that appeal to older people? I'd like to understand. Totally not picking an argument :)

[@PaulStevenson-f2e]

Yes the NDIS money pit has blown out government spending

[@samsearle4433]

NDIS has helped my sick mum and I pay a lot of taxes. There is waste no doubt but there is also value.

[@tvl6347]

It's because of fighting with their largest trading partner in the past. China is doing more business with other countries.

[@hungkityiu3001]

no

[@jennychuang808]

Hahaha How stupid can a person be ?

[@buildmotosykletist1987]

China's economy has crashed. Aussies must stop trading with China and we are doing just that. I'm a farmer and refuse to trade with China.

[@moonyeom-vag]

the real problem? you've spent too much in one time, population created unfortunate problems which were mentioned by you both. and those problems require limitless inputting monetary assistance, so it can grow unlimitedly. and there won't be economic problems. you wanted to be rich and wanted to be like richer people. every society in the world will be experiencing an unavoidable Monetary and Finance risks.

[@MattBlankenshipPhotography]

Your videos are always so entertaining and entertaining! Thank you for this! 😛🍑

[@noelvalenti8677]

I will believe there is a problem with the Australian economy when we stop having record new vehicle sales and restaurants and cafes stop being so full you can't get a seat.

[@kudachamisa1327]

Buy now pay later is off the roof, Australians are addicted to debt mate

[@jimbothegymbro7086]

both of those metrics are old people, old people buy nice cars to peacock, old people fill cafe's because they love a coffee, but young people? they're stuck on unemployment living in sharehouses waiting for opportunities that don't exist, and young people are the future of the country not the living fossils

[@noelvalenti8677]

@@jimbothegymbro7086 disagree..but let me ask my best mate who is a DP at a Mazda dealer here in Sydney. But let me get this right, you're saying no young people buy cars anymore, it's only really old people. Just as a side note, you realise that "old people" sales are still going into the dealership and therefore money going into the economy, right? And that record sales are still record sales. When everybody wasn't complaining about the "cost of living" we were using that metric to measure the general health of the economy. I'll do some research, but starting at August 2024, the second highest number of car sales during an August on record. Not exactly the sign of an economy going down the drain for the past 18 months or more, is it?

[@mknights33]

@@noelvalenti8677 longest per capita recession on record and we haven't even seen the music stop yet. You're seeing the false pump of record imigration numbers barely keeping GDP crawling while productivity is at record lows. In the meantime housing/health/infra is groaning under the weight of the ponzi scheme. It's ok, you'll see it come home to roost as living standards continue to plunge over the next decade, just look at the UK for an example.

[@mathewbuckley5619]

@@noelvalenti8677interest rates don’t affect people who have paid off mortgages as much as they do people with mortgage > majority of fully owned homes are owned by old people > old people continue to stimulate demand leading to inflation. RBA can’t target people with out mortgages effectively to reduce demand. Govt needs to step in and increase taxes on old people via estate tax as an example. Of course politically impossible so down the drain we go

[@teagueman100]

The monetarist mechanisms used by the RBA is so flawed.

[@origanami]

What logic do you think they should use?

[@teagueman100]

@@origanami A lot of our inflation is due to energy prices. Tweaking the interest rate only fucks with the economy and doesn't solve the supply or price of energy. You cant policy your way out of a supply shortage. Physical building and economic intervention are required.

[@origanami]

@@teagueman100 agreed, but does that mean we should give the RBA control over energy prices? Or that it should just let inflation rip because it's caused by policy they don't control?

[@teagueman100]

@@origanami No. But looking to the RBA to solve economic problems with monetarism as the default solution is very dumb and damaging. Crippling your country's economy with monetarism to stop your country's economy from being crippled by inflation is the completely wrong way of solving an energy crisis. We need to build stuff! Our economic doctrine is foolish to use monetarism as the solution to problems that pulling money levers cant fix.

[@SimoneShaw-fy2zm]

Exactly not everyone is Sydney has rich mummies and daddies from china like some of the money got to come from within Australia too???

[@DS91284]

Ouch 😮

[@sounuki]

Its ok, kangaroos will work with us.

[@davidhamtaro]

Trmp effect

[@Idontwantahandle3]

Money money money.

[@AMJB100000000]

Working from home has fucked this country

[@gikigill788]

Is that you egghead?

[@yesand5536]

So, working at the office doesn't?

[@gikigill788]

@@AMJB100000000 Tell me you made a loss on commercial property without telling me you lost money on a commercial property.

[@AMJB100000000]

@ working in the office is more productive.. people are taking the piss now they have been for a long time.. time to send them back into the office and get a full days work out of them rather then have them sitting on Netflix half of each day.

[@gikigill788]

@AMJB100000000 And you have no proof of it. Practically everyone has reported higher productivity from WFH.

[@manishtandon3171]

RBA is FULL of MORONS! Hight Interst Rates are NOT needed when Inflation is Already 2.8 (RBA target is between 2-3)! WHY!??

[@tysonfinn1470]

@@manishtandon3171 it's the trimmed is 3.5

[@emark701]

These aren’t high interest rates. These are normal interest rates. Look at a historical chart. They’ve been unusually low (essentially at zero) since the GFC. The problem is that the majority of our country is too comfortable and doesn’t care to innovate and produce things that other countries care to buy - outside of minerals found in the ground (we dont even refine it), just dig it up and ship it off. Outside of that we have education (university fees) and beef. China has propped us up for the last 20 years, because they’ve been buying our resources en-mass. But they’ve slowed down their need to buy. Not good for us. I say this an Australian… Where there is abundance, there is waste and lack of innovation. And there has been abundance in our country for a long time now. Many people have gotten too comfortable and lazy, and forgotten how to work hard and innovate. It’s now reflecting in the numbers.

[@origanami]

@@emark701such a brilliant take. I've spent time living overseas and the level of entitlement was obvious when I returned. I definitely agree that historically we've had it too good for too long, but recently entitlement is turning into apathy because class mobility has evaporated. If you're 18, working hard won't get you a home. If you're successful in business, then you can afford something basic. There's no reason for hard working, innovative people to stay here.

[@yousheng]

@@emark701 totally agree!

[@DaveSmith-r1k]

@@emark701 Agree 100%. Interest rates are not high.

[@magnuslucky8053]

Hello, I want to start investing, but l'm unsure where to start. Do you have any advice or contacts for assistance?

[@Clluthu]

Aussies just invest in properties and think they are savvy investors.

[@gikigill788]

Ask your mother 😂😂

[@prancer4743]

Omg 🫣🤔🥹🥲😱👀🏃‍♂️‍➡️🏃‍➡️🏃‍♂️‍➡️change of government coming next year a real possibility and positive 👍😉😀

[@OZSHnese]

Do not bite the hand that feeds you.