What is the state of the Australian economy? | The Daily Aus

With the federal budget just over two weeks away, the economy is set to come roaring back into focus on your newsfeed. So, we thought we'd get you up to speed well in advance. How are we going with inflation and the cost of living? What should you expect from HECS and HELP debt indexation this year? And what early clues do we have about this year's budget? Today on the podcast, we speak to the Australia Institute and the Centre for Future Work's Chief Economist Greg Jericho to take a temperature check of the economy.
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[@gingerkilkus]

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

[@CharlesArthur-fq5sx]

Inflation can have a significant impact on individuals and their cost of living. As a result, it can cause negative market sentiment. It is important for individuals and businesses to find ways to navigate and potentially mitigate the effects of inflation on their finances. The current economic climate, including underperformance of financial markets due to fear of inflation, has led to a decrease in the value of my portfolio. I would appreciate any recommendations on how to potentially increase returns during this market downturn.

[@Franklin-gq4si]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $70k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.

[@BernardFrederick-tk7un]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up $450k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

[@foreverlaura-fq4eu]

@@BernardFrederick-tk7un my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

[@BernardFrederick-tk7un]

Annette Marie Holt is the licensed adviser I use. Just research the name. You’d find necessary details to work with to set up an appointment.

[@rodmunch1012]

The number one concern for Jim Chalmers is that ensures that he fulfills his role for those he answers to. Sadly that is the World Ekonomik 4rum and not the Australian public. Much less his own constituents in his seat of Rankin.

[@williamcrossan9333]

An essential human need - housing, just keeps getting more and more expensive. Although most main stream media regards this as a good news story.

[@oldgolfer7435]

That is because negative gearing allows the rich to get richer with the blessing of the Coalition.

[@TheHandThatBites]

It's getting worse than England. The haves and have nots.

[@Peekaboo-Kitty]

I used to believe Housing was a Right. Now I see Housing is a Privilege.

[@oldgolfer7435]

@@Peekaboo-Kitty That was the case decades ago. Believe it or not, during my lifetime you could buy a house for under a thousand pounds. As a young adult you could buy one for less than $100,000, and ten years later it would probably have risen only by about another 10,000. Liberals have fostered negative gearing, and Labor are too frightened to tackle it. Housing is now our national currency.

[@ThomasOeser]

There are 160 applications per job (Seek data), that doesn't sound like a tight labour market to me.

[@frontseated5983]

Great economy in Australia. Inflation is 3.6%, still coming down. Unemployment at below 4% for past years. Pop the champagne !

[@btothec4650]

Like the metaphors, totally agree that HECS debt burden is ridiculous- I’ve paid off 2 lots over the years and have been appalled with how this sector has been handled since 1989. I think we do need to find another measure for how the country is tracking beyond GDP- infinite growth is not good for the planet.

[@JaydenWilliams-my1br]

I stopped watching after 1.30. 3.6% inflation but this 'economist' is ignoring that its not reflective across Australia. In SEQ we're dealing with 9% inflation and highest fuel in the country and the largest tent cities. He has absolutely no idea, what a fool.

[@kathymoore7577]

There's a reckoning coming. Our summer is going to be one of chaos and despair for some. 🙏

[@lovechineseforeverever2]

WHAT ECONOMY?

[@maximilian_degen]

Stellan Skarsgård really knows a thing or two about the economy

[@user-bf3yh5fl9d]

The guy looks like Stellan John Skarsgård (the professor in the movie Thor, Erik Selvig)

[@helios4u2]

CAPITALISM vs SOCIALISM FIRSTLY, LET’S SAY THAT SOCIALISM CAN HAVE SEVERAL FORMS. IT CAN BE FULL OR MIXED. THAT IS TO SAY, IT CAN EXTEND OR LIMIT THE ACTION OF THE STATE JUST AS IT CAN PERMIT, FRAMES OR LIMIT THE ACTION OF CAPITALISTS . A FORM OF SOCILISM WAS IN EFFECT IN SWEDEN AND DENMARK FOR MORE THAN HALF A CENTURY. DURING THIS PERIOD THESE COUNTRIES EXPERIENCED ECONOMIC STABILITY WHILE AVOIDING INTOLERABLE ECONOMIC DISPARITIES BEING CREATED BETWEEN THE SOCIAL CLASSES OF THE COUNTRY. THEN THE ANGLO-AMERICAN CAPITALISTS CAME AND DESTROYED THE SYSTEM. TODAY THEY ARE EMBODYED IN THE SAME ECONOMIC PROBLEMS AS OTHER CAPITALIST COUNTRIES. ANOTHER STYLE OF SOCIALISM IS UNDERWAY IN CHINA AND CHINA HAS EXPERIENCED AN UNPRECEDENTED ECONOMIC BOOM FOR 30 YEARS IN ADDITION TO HAVING INCREASED INHABITANTS' INCOME FIVE-FORWARD. THE COUNTRY HAS GONE IN 30 YEARS FROM THE GREATEST POVERTY TO THE LEADING ECONOMY IN THE WORLD. CAPITALISM HAS NEVER ACHIEVED SUCH AN EXPLOIT. Things go wrong when capitalist politicians are elected to lead a socialist country. THEY EARLY DID DESTROY EVERYTHING THAT WORKS BY PRIVATIZING AND DISPENSING THE COLLECTIVE WEALTH OF THE COUNTRY TO FRIENDS. CAPITALISM IS THE THEFT OF COLLECTIVE WEALTH BY A SMALL GROUP CONSTITUTED AS A MAFIA. THIS IS WHY THE STATE MUST INTERVENE TO PREVENT THIS OLIGARCHY FROM REDUCE THE PEOPLE INTO SLAVERY. THE PROBLEM IS THAT THIS MAFIA ALWAYS ENDS UP CORRUPTING THOSE WHOM THE PEOPLE MANDATE TO REPRESENT THEM AND ADMINISTER COLLECTIVE GOODS. THIS CORRUPTION CONTINUES UNTIL ALL ELECTED OFFICIALS ARE MEMBERS OF THIS MAFIA AND TRANSFORMS THE STATE INTO A MAFIA ORGANIZATION AT THEIR SERVICE. IF THE DURATION OF SOCIALIST SYSTEMS HAVE EXPERIENCED CHAOTIC EXISTENCES, IT IS BECAUSE THE ANGLO-AMERICAN CAPITALISTS, FOR 400 YEARS, HAVE ALWAYS INTERVENED TO TORPEDO THE EXPERIENCE SO THAT THERE IS NO ALTERNATIVE TO THEIR CAPITALIST SYSTEM . FIRST, THE ECONOMIC SANCTIONS, THEN THE BOYCOTT AND WHEN THAT WAS NOT ENOUGH, THE WAR FOLLOWED BY DESTRUCTION OF THE COUNTRY. ALMOST ALL COUNTRIES IN LATIN AMERICA AND AFRICA HAVE EXPERIENCED THESE MAFIUS ACTIONS BY ENGLAND AND THE UNITED STATES.

[@LIONIQ-foxhound]

technical question: regarding the European settlement in Oceania, or what is temporarily called australia, when the english island of antichrist is crushed by campaign of WMD weapon's in the transitional phase and before moving to liberate Oceania from european occupation, what is the legal aspect that regulates the status of this settlement, as the main part of the british crown being roasted?

[@AmaliSaid-xz1dr]

Hello economy is good in Australia, Amali

[@Peekaboo-Kitty]

Yeah sure ... that's why so many people are homeless and starving.

[@user-jz1ht8ry2w]

Yyyyeeeeaaahhhh, it's all great. No recession, 😅😊😮😂 all good news. Wow.

[@tayf85]

All of his suggestions were terrible

[@hologramhouse729]

🌱🌿🌱🌿🌱🌿🌱🌿🐨🌱🌿🌱🌿🌱🌿🌱🌿

[@pb9040]

You might we cant live with these costs in life

[@user-jz1ht8ry2w]

Intresting, the different views of people in Australia. Some are living in a real good bubble. Whether you agree or not, power is high, fuel is high, and food is high. Why are some happy thinking it's normal now, maybe it's the new normal? 😅😊😊😊😊😊😂

[@michaelbananas461]

Oh my goodness. This bloke is a chief economist?! He clearly has no grasp on even the absolute basics of economics, let alone his policy advocacy. Just one example. He noted that government subsidizing childcare during covid "lowered inflation" because the "price became lower".. There is so much to unpack there, but he essentially left it there, with the assumption that it was a deflationary policy as a whole and could be used to combat existing inflation. Good lord, there are just too many issues there it astounds me he could rise to such a position without being exposed. Government subsidies in such areas, like price controls in general, have short term benefits in deflationary recessions, with the obvious side effects of inflationary excess elsewhere due to increased discretionary spending, and government spending, and subsequent deficit spending. Even ignoring all the well understood benefits and drawbacks of policies, we are experiencing not just poor growth, but inflation, unlike the early part of covid so this policy would merely prolong the burden of higher interest rates. But apparently not, because apparently the government spending billions to free up the spending of those with children in care is "deflationary" because "prices go down"... jesus f****** christ.

[@lovechineseforeverever2]

FLACCID MATE, VERY BAD SINCE NOT HAVING CHINESE MONEY

[@persophone4554]

The economy is dead. You can still afford food, just not anything else on a typical full time job.

[@magnaviator]

pumping fake numbers, how does this help?