Why Life in Australia Has Become Economically Impossible

[@nk53nxg]

I watch what is happening with the housing crisis in Canada, Australia, NZ, USA and the UK where I live with a lot of interest. Australia and Canada appear to be the most extreme cases.I am also interested in the demographic time bomb happening in parallel along with wage stagnation in all these countires. This is not a crisis at all, all these Anglosphere countries that have been interconnected for Centuries in different parts of the World all having the same issues at exactly the same time tells me a lot, this is deliberate and manufactured. Globalisation has allowed the rich and powerful to pull economic levers globally now, not just locally, meaning few can even escape what is happening back home when the same thing is happening elsewhere. The huge scale immigration into these countries to make up the demographic shortfall is deliberate too, and making the housing issue worse. Big business also hates spending money on training staff or new recruits when bigger profits can go to investors, why not just recruit already well educated and trained staff from abroad, and screw the natives, they are not worth investing in??!! This is also a big issue everywhere. Globalistaion since the 70's has allowed big business to relocate for cheaper labour resources to places like China. You have to remind yourself that these big successful businesses all had their genesis in the west, built up by a skilled and loyal work force that were quickly dumped on the scrap heap and left with socioeconomic problems and lost incomes. All at the same time our media slammed China for shocking human rights and work rights abuses, whilst at the same time our very own Western Governments colluded with China behind the scenes and helped Western business set up shop and reap the benefits of a work force on slave labour and no real human rights. This has everything to do with what is happening in the West now, we lost our manufacturing independence and can no longer compete with the low labour costs abroad. We gave away all our manufacturing and industrial supply chains to Asia. Back home all we have left are crappy service industry jobs for the majority, little wealth is now personally generated, except in the housing sector if you already own assets. If big business can now own most housing stock and land, which is happening now, the avergage Westerner is going to be living back in the Victorian era in a rentes slum with around the same rights as those poor exploited workers in China. The USA is already a hell hole of a place to be an employee, as is Japan and South Korea, and all these places have housing out of reach to young people who want to start a family too. Manufacturing may actually come back to the West if the majority are piss poor renters again with diminished rights and no hope of owning appreciating assets like houses and land. I am certainly not anti big business, but they have been given the ability to buy our politicians and run rough shod over everyone and everything, even the enviroment. Bib business is necessary, but needs to be reigned in and regulated properly with proper competition laws to prevent monopolies. The roots of all this started in the late 70's and early 80's when neoliberalism took hold. The plan is going well and everything appears to be falling into place.

[@EconomyExplorer1]

Your analysis touches on many interconnected issues: globalization, housing crises, wage stagnation, and big business influence. The shift since the 70s has indeed left many Western economies grappling with lost manufacturing independence and rising inequality. It's a complex, deliberate process that deserves serious discussion. Thanks for sharing such a thoughtful perspective!

[@carlholdt1042]

Nz is worst

[@RoseMir-o4c]

👍👍👍

[@EconomyExplorer1]

Glad you liked it, Rose! 👍👍👍

[@Boyashaka22]

Like how Carlin said, owners of the country got you by the balls, talking about Australian dream, because you have to be asleep to believe it.

[@EconomyExplorer1]

Great reference to George Carlin! The 'dream' can feel out of reach when economic realities hit hard. Thanks for sharin

[@jjsamuelgunn1136]

australia supplies the iron for china's construction industry which there is now an 'overcapacity' and yet you say the raw materials for australia's own housing industry is too expensive'? there is an influx of migrants and yet you say there is a labor shortage in the housing industry? one thing australia should look at is the rental market. reading between the lines there seem to be a vicious cycle here. the lucrative rental market means the rich elites will want to invest by buying up all the houses to rent out, taking advantage of the cheap interest rates and tax breaks. by cornering the housing supply, those who can't afford to buy houses have to resort to renting, in turn fueling the cycle. the government should stop this nonsense by making it harder for these rich landlords to swallow up all the houses and profit from renting it out to those who can't afford the houses. seems to me the government is failing big time to address this issue.

[@EconomyExplorer1]

Thank you for sharing such a thoughtful analysis! It's crucial to have discussions like these to highlight the challenges and potential solutions for the housing crisis in Australia.

[@jjsamuelgunn1136]

@@EconomyExplorer1 i'm not saying you wrong. i'm saying the math don't add up probably because the government is still stuck with their old rules and not willing to to adjust and make new rules and regulations to address the problem. for example, the labor shortage can be addressed by bringing in more migrants on work visas to work in construction. i have a feeling that they are doing it because of local union rules or because of the qualifications (or lack thereof) of those migrants. which is why they need to adjust and negotiate solutions with all stakeholders.