Australia Plunges into Per Capita Recession - Thoughts?

Trying2SaveABuck on 06/09/2023 - 12:32
Last edited 06/09/2023 - 18:02

At the aggregate level, investment contributed 0.5 percentage point to growth, led by 8.2% increase in public investment. Private investment increased by 0.6%.

Consumption contributed 0.1 percentage point to GDP. Household consumption growth (+0.1%) slowed slightly but remained positive. Government spending increased by 0.4%.

Net trade added 0.8 percentage points, with higher exports (+4.3%) partially offset by lower import growth (+0.7%).

Inventory changes were the most significant drag on GDP growth, subtracting 1.1 percentage points from GDP growth.

It is clear that the main driver of Australia’s GDP growth is the Albanese Government’s unprecedented immigration program, which delivered a record net 502,000 visa holders (excluding tourists) into Australia in the year to July, with student visas accounting for 297,000 of these arrivals.

https://www.macrobusiness.com.au/2023/09/australia-plunges-i…

https://www.abc.net.au/news/2023-09-06/gdp-june-quarter-2023…

Financial

Comments

  • Drakesy on 06/09/2023 - 12:43
    +13

    We've been in a per capita recession since 2010 (we're only just re-approaching the value now).
    The only thing keeping us afloat is the importation of people, and the Liberal government that had us for the last decade happily talked it down.

    • EightImmortals on 06/09/2023 - 14:50

      How does that even work?
      More people, more housing, more expenses etc

      • LFO on 07/09/2023 - 10:41

        Migrants bring money.

        Australian immigration policies are fine-tune for this.

        Of course "refugees" are in a different category but even them could/would bring some wealth.
        Think of most of the Ukrainians, most of the Uighur people.
        Some have nothing, some are loaded.

        • EightImmortals on 07/09/2023 - 12:46
          +2

          Sure but that's what I mean. Do the ones who have nothing and are dependent on tax payer welfare cancel out the ones who bring money? Our local delivery guy came from Malaysia and invested a lot of money in buying the delivery service, did everything by the book, his kids settled in school etc and last we spoke he was still getting royally screwed by the government and despite the amount extorted was still in limbo and not sure if was going to get permanent residency. His comment was that he should have come in through Iran or some other country as a refugee and would have been much better off.

      • singingwolf on 07/09/2023 - 15:55

        More people buying Milk, bread, cars etc etc

        • EightImmortals on 07/09/2023 - 16:26

          Still need money for those things.

    • netjock on 06/09/2023 - 15:21
      +3

      The only thing keeping us afloat is the importation of people

      Also what is screwing up the per capital GDP. 400k people which are part productive (or can't find a job). GDP isn't growing as strong.

      Immigration is in part to grow the economy but also to enrich their corporate mates who would like a big Australia. Considering the government can mug the average person for taxes (Victoria Dan's land tax grab case to the point) and borrow against their name while making off with $200k+ per politicians a year.

    • HeWhoKnows on 08/09/2023 - 17:23

      100% correct
      Im sure everyone has noticed their quality of life and relative cost of everything getting worse over the last 10 years.

      This is just a case of the government selectively publishing statistics that meet thier self-promoting objectives.

      Imagine how much worse its going to get after another 1.5M immigrants are living here in the next 3 or 4 years.

      And the shocking thing is that, even with all these peopple supposedly working and paying more taxes, the government budget deficit is forecast to get worse and worse.

  • bobbified on 06/09/2023 - 12:45
    +4

    Can you please put this into plain english for bogans like myself?

    • Muzeeb on 06/09/2023 - 12:51
      -2

      Money in. Money out.

      • bobbified on 06/09/2023 - 12:52

        The problem is, lately, it's too little money in and too much money out!

        • Muzeeb on 06/09/2023 - 12:53
          +11

          You're making it complicated again. Slow down tiger.

          • bobbified on 06/09/2023 - 12:53
            +6

            @Muzeeb: Okay..keep it simple. I have no money 😢

            • Muzeeb on 06/09/2023 - 12:56
              +7

              @bobbified: Perfect. Your understanding appears complete. Great job.

        • Ghost47 on 06/09/2023 - 14:51
          +1

          Money is still coming in the problem is too many people are coming in making everyone poorer. And each person isn't doing enough to grow the economy.

          • Ashless on 07/09/2023 - 10:33
            +1

            @Ghost47: The people coming in are propping up the existing population on a per GDP basis. They are typically not on (or eligible for) welfare. ie they need to work or use overseas funds. If the people were not coming in, we would be worse off per GDP. It's basically a Ponzi scheme.

      • Jimothy Wongingtons on 06/09/2023 - 13:05
        +1

        I completely understand

    • Trying2SaveABuck on 06/09/2023 - 13:23
      +18

      To be in a 'recession' you need two quarters of negative economic growth

      a per-capita recession means the recession is only being avoided due to migration - ie people come here spend money

      a per-capita recession in simple terms means we are going backwards per person - even though the overall the economy is growing - thus the pie is getting bigger but we all have 'less pie' per person

      The 'Ruud/Swan' government flooded Australia with immigration to avoid a 'recession' (along with a fortunate mining boom in Iron ore) on paper it worked in practice the overall standard of living drops in the long term. This is not just the ALP to blame but it is where it started - Since then every government has kept higher or increased immigration (essentially cooking the books to make the economic data look better then it is) Albo/Jim has dialed immigration up to another level again…but times have 'changed' economist now look at 'per-capita' recession when in 2008 we didn't really have this data at the forefront.

      Prior to Ruud/Swan - Howard/Costello had a hard cap on immigration (~70k pa) - thus when the young generation complain 'boomers' had it better this is 'probably' the main reason - we had economic growth is slow but steady population growth.

      Thus essentially the Australian economy is growing but per-person we are getting poorer and thus life is getting harder on a micro-economic level

      this is a basic way of looking at it is you can bring more people here but and it make the 'numbers' looks better but in practice infrastructure, heath care, the education system etc can only handle so much growth without being over-burdened - both sides of politics have been pushing the boundaries of over migration to combat an aging populations and thus our standard of living overall is dropping.

      • zoombie on 06/09/2023 - 14:18
        +2

        As the population gets bigger, you need a larger intake to have an impact. A 100k increase to a population of 20m equals to 0.5%, we are at 26m now so a 100k increase is only 0.38%.
        Under Howard, it was lower, because the population was lower. But you can see from the article below, he understood basic maths so immigration goes up quite a bit in his final yrs in office.

        https://www.abc.net.au/news/2018-02-20/migration-figures-und…

      • Rear CreviceEruption on 06/09/2023 - 14:25
        +6

        If we measure wealth by the amount of property the average person owns or is able to buy, the overall trend is a per capita recession since 2001. In the first half of 2001, property prices nearly doubled in many places in a matter of months, or even tripled in some places. Since then, the average house has become more and more unaffordable to the average person (the median income) and housing is now more unaffordable than it has ever been in recent recorded history, if my knowledge is correct.

        • Trying2SaveABuck on 06/09/2023 - 14:44

          property prices nearly doubled in many places in a matter of months, or even tripled in some places. Since then, the average house has become more and more unaffordable to the average person (the median income) and housing is now more unaffordable than it has ever been in recent recorded history, if my knowledge is correct.

          depends on the state property price growth is 'directly' correlated to population growth (there are other factors ie cash rate, employment etc) Cities like Melbourne and Sydney where the population has x2-x3 in a short space of time have seen prices skyrocket

          places like Adelaide and Perth have has only modest populations growth and thus prices have only gone up slight more then inflation most years

          I got back to my point about 'infrastructure' and if you grow to fast you ultimately cannot keep up with rising demand - im from Melbourne's Western Suburbs we could use 2 more hospitals and almost every road could be upgraded with an extra lane at this point and a few more schools

      • ESEMCE on 06/09/2023 - 16:55
        +5

        The 'Ruud/Swan' government flooded Australia with immigration to avoid a 'recession.

        Prior to Ruud/Swan - Howard/Costello had a hard cap on immigration

        According to your own linked article these statements are inverted.
        It shows increasing Immigration through 2006 and 2007, with a marked downturn in Net Visa Arrivals from 2008 to 2010 aligning precisely during Rudd/Swan years.

        ie Howard/Costello saw increasing amounts of Immigration, followed by hard cuts to Immigration by Rudd/Swann, increasing through Gillard and levelling out through Turnbull/Abbott with cuts by Morrisson

        The same graph shows that the VAST majority of Immigrants post 2021 are students. Text above the graph indicates ~60%, graph indicates far more than that.

        • terrys on 07/09/2023 - 08:17

          The OP will be banging on about "transparency" next. I don't think they will go as far as to suggest the PM has secretly taken on five other ministries while instructing the GG to keep mum, or payed anyone found ineligible for the highly paid position they have held for some years around half a million for a couple of secret text messages to keep them on their feet while the matter is sorted…

    • HeWhoKnows on 08/09/2023 - 17:27

      You are worse off now then 5 or 10 years ago.
      Agree?

  • zoombie on 06/09/2023 - 12:45
    +6

    It is clear that the main driver of Australia’s GDP growth is the Albanese Government’s unprecedented immigration program, which delivered a record net 502,000 visa holders (excluding tourists) into Australia in the year to July, with student visas accounting for 297,000 of these arrivals.

    This has been going on for 20 yrs. It's the only reason why the government allows high immigration. Easiest way to get economic growth.

    • ThithLord on 06/09/2023 - 13:09
      +1

      The difference being that the Labor gov are overhauling immigration to Australia. Low-skilled immigrants will make up only a fraction of the entirety of migration going forward.

      This is a great watch; basically the Home Affairs Minister Clare O'Neil commissioned the review in 2022. There is major changes on the horizon.

    • brendanm on 06/09/2023 - 13:39
      +9

      Easiest way to get economic growth.

      Hurray, on paper growth while standard of living plummets off a cliff.

      • zoombie on 06/09/2023 - 14:01

        If you were smart and understood what this country is about, you would have benefitted from the easiest wealth creation scheme in history (??). I didn't so I never benefitted. But those who did and bought their nth investment properties, are now living it up. But for those who didn't and the next generation (without rich parents), yeah, you're right, the standard of living have plummeted.

            • brendanm on 06/09/2023 - 17:39
              +1

              @p1 ama: Culture and race are two very, very different things. Didn't neg you by the way, but people seem to often jump to "muh racism" when people aren't actually talking about race. People of any race can have the same culture and values as me.

              • p1 ama on 06/09/2023 - 20:35
                +1

                @brendanm: That's my point exactly, that culture and where one is from are not necessarily related. As such, being anti-immigration from the point of view of culture is wrong.

                I agree that people from anywhere can have the same culture and values as you. As such, we should not presume that immigrants do not.

          • terrys on 07/09/2023 - 08:18
            +1

            @HarryBolt67:

            people like me with a shared history, culture,

            Let me know the next time you are organising a corroboree.

        • brendanm on 06/09/2023 - 17:38
          +4

          I've got a house, it's doubled in value in 5 years. I still can't drive to Burleigh beach, as it's an hour plus of traffic, and then no car parks once I get there. House prices don't make standards of living better.

          They want to put in more high density living, which is only going to make everything worse, but at least the scumbags in government will be able to say we have positive economic growth. Meanwhile the people who want to buy one of these crappily made shoebox apartments, have to eat two minute noodles to be able to afford the piece of junk, and are then crammed in with 1000 other people, most likely with not enough carparks, and the roads are the same as they were when there was a 4 bedroom house on the block instead of a 10,000 unit apartment.

          • zoombie on 06/09/2023 - 17:57

            @brendanm: Should have bought a house next to Burleigh beach mate, would have gone up 5X and no traffic to worry about ;)

            • brendanm on 06/09/2023 - 19:08

              @zoombie: Haha yeah, I'm not a big fan of that end of the coast to be honest, that beach is just nice. Just go over to straddie now instead, actually get the beach to yourself.

            • altomic on 07/09/2023 - 08:50

              @zoombie: lifehack

            • brendanm on 06/09/2023 - 19:12
              +6

              @Ghost47: Haha I'm not angry at all, just very disappointed with the way this country is going. Funny that you instantly assume someone is a wife beater though, bit of projection there perhaps? We know from your private messages to me that you have a little bit of a temper 😂

              What's the advantage of my house doubling in value if everything around me also has? House values have gone up because all the southerners have come up here after covid. The value of my house doesn't help at all, as I am living in it and not selling it. The terrible congestion on the roads, and all services being completely overrun is pretty annoying though.

              • Ghost47 on 06/09/2023 - 19:29
                -7

                @brendanm:

                Haha I'm not angry at all, just very disappointed with the way this country is going.

                Have you ever sat down for more than five seconds to contemplate why this country is headed the way it is? It all starts with behaviours that you love to show; lack of empathy and ignorance. The PM and Labor MPs (e.g. Michelle Ananda-Rajah) lack empathy as to why people are concerned about housing costs and high immigration levels, they are ignorant to economists' comments that high immigration will worsen people's quality of life and they choose to not listen to these people. That's the exact type of behaviour you've shown to me the past four years with your constant underhanded snipes making stuff up about me in replies to me, so it's a bit rich that you're disappointed with the way this country is going when you behave the way you do. If more people were understanding of others, this country would be a better place but sadly parliament is filled with people like you who don't listen to the other side's concerns and just push their own agenda by twisting the other side's words.

                Funny that you instantly assume someone is a wife beater though, bit of projection there perhaps? We know from your private messages to me that you have a little bit of a temper 😂

                See that's your issue. You think it's "funny" when people assume things about you online, whereas I think it's plain rude and igorant. And frankly, considering you were following me around replying to all my comments and making stupid stuff up about how I expect a free penthouse in the Melbourne CBD, making stuff up about how I go on holidays every year and eat brunch every week or whatever clout-chasing bs you spouted simply because I complained about house prices, you deserved a PM telling you to f*** off.

                It's clear to me you never got the message as I've seen you try to get under my skin constantly despite sending you that PM literally three years ago. It really is weird how badly you want to get under my skin and how constantly you try to do it with your online bullying.

                • brendanm on 06/09/2023 - 20:23

                  @Ghost47: I have empathy, just for those who choose to try and help themselves. You've said that you do and have, so I apologise for being so harsh to you. Unfortunately most others will not save as you have, and will simply complain and complain. Expecting handouts and someone else to fix your problems is another issue becoming bigger in this country.

    • HeWhoKnows on 08/09/2023 - 17:30
      +1

      Yes but the immigration numbers are astronomically higher under this Labor Government.
      Typically Political parties assume the immigrants that arrived when they were in goverment will vote for them.

      This is what Biden and the Democrats are up to with their new unofficial "open borders"

      • ESEMCE on 11/09/2023 - 09:20
        +1

        Yes but the immigration numbers are astronomically higher under this Labor Government.

        Evidence for this is still out IMHO. After discounting the return of International Students post-COVID, the numbers look "pretty normal" year on year.

        Typically Political parties assume the immigrants that arrived when they were in goverment will vote for them.

        ^basically a conspiracy theory…
        I'm sure the below is pretty similar for the US

        1) In order to vote you HAVE to be a citizen
        2) In order to apply to become a citizen you need to be a PR for 5 years!
        3) Then you have to enrol
        4) Then wait for an election.

        So you're going to be a resident for 6+ years before you can vote.
        By then, people will have their own opinions on politics, aint nobody thanking the government of 6 years ago just for "letting them in".

  • Stopback on 06/09/2023 - 12:57

    Inflation is more important

  • knaff on 06/09/2023 - 13:05
    +1

    Wonder how many of those student visas end up being permanent ?

    • mskeggs on 06/09/2023 - 14:20
      +18

      Many, many. You get long enough here after you finish your course to work and meet the requirements for residency.
      I'm not against a suitable level of immigration, but international students are being treated as cash cows in exchange for visas. It is fundamentally dishonest to see the universities pat themselves on the back for their "world class" degrees that are of little value without the immigration stamp attached.

      At least have the decency to drop HECS fees for locals if you are running a global immigration scam to fund the uni.

      • dtc on 06/09/2023 - 17:53
        +2

        its outrageous that skilled people who come to study in Australia and get uni degrees are then allowed to apply, as part of a capped skilled migration program, to be permanent….

        If you want to argue that the ~170,000 cap on skilled migration is too high, then by all means. But that cap doesnt change because many of the applicants first came here as students. If students werent eligible, I'm sure the cap would be filled by people who studied overseas. Same number of people.

      • altomic on 07/09/2023 - 08:53

        At least have the decency to drop HECS fees for locals if you are running a global immigration scam to fund the uni.

        "university fees for domestic students have increased considerable due to the high demand from international students , it's all about supply and demand , and we are victims as well " - university spokespeople probably

        • moar bargains on 07/09/2023 - 17:20

          Actually universities have been chronically underfunded for quite a while now (does that sound familiar?), and research funding is unbelievably competitive, while HECS and local student fees don't bring in enough. So international student fees were the cash cow that basically all Unis across Australia relied on to be able to cover the shortfall needed to fund their research, teaching and other activities. Which was all going great until COVID meant international student fees dropped off a cliff, and the government said "No JobKeeper for Unis".

          Now some of those funds for "other activities" could and should be redirected I think, but ultimately, if we want an educated workforce and society, higher education needs funding one way or another. There are also deeper problems with building your entire business model on extorting educating international students though, such as the decreasing quality of the education provided and thus the quality of graduates. There has been massive casualisation of the university workforce as well in order to cut costs, which is not ideal for either the educators, or the students. Imagine wanting to learn cutting edge science, health, biotechnology or engineering from someone who may not have a job next month, despite the glossy brochure claims of "learning from world leading experts"? It doesn't exactly inspire the university staff, nor the students, to put the in the extra effort…

    • terrys on 07/09/2023 - 08:20

      The next time you need emergency aid at a hospital, you may get an indication.

  • Benoffie on 06/09/2023 - 13:09
    +9

    The populate or perish program has been the mantra for keeping this country out of the doldrums for years.

    Rather than accepting recessions are necessary for market and price stability over time, they'd all rather import economy to fudge the books.

    It is a great lie peddled to those under 40 who now seem to think the good times last forever and when reasonable economic intervention is taken, lash out and blame others (rather than their lack of economic and financial education).

    • Ghost47 on 06/09/2023 - 14:55
      +5

      It is a great lie peddled to those under 40 who now seem to think the good times last forever and when reasonable economic intervention is taken, lash out and blame others (rather than their lack of economic and financial education).

      Not everyone under 40 assumes good times last forever and lash out when rates have been pumped up. Sadly this country is more about protecting mortgagors and would rather sacrifice the AUD for it, it's absolutely ridiculous. "Woohoo my mortgage isn't going up" meanwhile everything else is going up, definitely a cause for celebration 🙄

      • brendanm on 06/09/2023 - 17:42
        +1

        Chin up mate, you'll sacrifice on holidays and brunch, and be able to get a house, one day.

        • Ghost47 on 06/09/2023 - 18:07
          +2

          After all this time I still live rent free in your head lol. You live in Queensland, anyone could buy a house up there in their sleep so keep quiet.

          • brendanm on 06/09/2023 - 18:31
            +1

            @Ghost47: I just enjoy whingers who expect everything to be handed to them, rather than actually put in some effort or sacrifice.

            You live in Queensland, anyone could buy a house up there in their sleep so keep quiet.

            😂

            • Ghost47 on 06/09/2023 - 18:35
              +1

              @brendanm: I've never expected a house to be given to me, you've always just twisted my words to suit your agenda (i.e. saying "house prices are stupid" isn't "gIvE mE a FrEe HoUsE!1!1!11"). You don't know anything about my spending habits or my salary either, yet you act like you do.

              No wonder you got banned from Whirlpool, probably harassed the wrong person.

              • brendanm on 06/09/2023 - 18:39

                @Ghost47: Yes you do, you constantly complain about it, and you've posted enough on here to be able to figure out your spending habits.

                No wonder you got banned from Whirlpool, probably harassed the wrong person

                Yeah, the bludgers and people who can't take any personal responsibility. Still have my "pervasively light" aura though, so the majority must have enjoyed it 😂

                • Ghost47 on 06/09/2023 - 18:50
                  +1

                  @brendanm:

                  Yes you do, you constantly complain about it, and you've posted enough on here to be able to figure out your spending habits.

                  That's cute you read every comment of mine, although it's stalker behaviour and sad. I'm happy to admit in the past 12 months I've probably spent about $3000 on leisure items, but the thing you don't seem to want to accept is that I've said I save about 60-70% of my salary, and part of what I don't spend I invest weekly. So I do have money, but I whinge because houses being the sh**tboxes they are aren't worth what people spend on them, which you can't seem to grasp.

                  Yeah, the bludgers and people who can't take any personal responsibility. Still have my "pervasively light" aura though, so the majority must have enjoyed it 😂

                  Yeah and there you go again, attacking someone when you were the one who got banned for your behaviour. Ironic that you tell others to take personal responsibility when you can't admit your own faults.

                  • brendanm on 06/09/2023 - 19:07

                    @Ghost47:

                    you don't seem to want to accept is that I've said I save about 60-70% of my salary, and part of what I don't spend I invest weekly.

                    Then buy a house (not an apartment). They aren't getting any cheaper. The government is intent on importing as many people as possible, and there is only so much land. Wouldn't you rather be paying your own mortgage than someone else's?

                    Yeah and there you go again, attacking someone when you were the one who got banned for your behaviour.

                    Who did I attack with that comment?

                    Ironic that you tell others to take personal responsibility when you can't admit your own faults.

                    What fault? Telling people to take some responsibility for their lives?

                    • Ghost47 on 06/09/2023 - 19:21

                      @brendanm:

                      Then buy a house (not an apartment). They aren't getting any cheaper. The government is intent on importing as many people as possible, and there is only so much land. Wouldn't you rather be paying your own mortgage than someone else's?

                      Oh wow, what a sudden change in tune. You keep claiming I expect a house to be given to me on these forums, why are you actually trying to give me advice instead of bash me like you have the past 3-4 years? You're clearly trying to make yourself look better because I'm calling you out on your toxic behaviour towards me.

                      You don't know anything about me, my salary, how much I have in cash and liquid assets (which I can sell to use as a deposit), yet you have constantly made up stuff about me in your head and posted it as replies to my comments. You always try to get under my skin with your on-and-off snipey replies, it just proves to me what kind of person you are. Must be having a bad day huh Brendan?

                      • brendanm on 06/09/2023 - 20:20

                        @Ghost47: No, not having a bad day. I think it's a combination of things. I see people complain, yet they don't do anything to change their situation. I see people buying fancy new cars on loans, yet they complain they can't buy a house, can't save a deposit etc. People complain their rent is too high, yet they choose to live right in the inner city.

                        I've probably been too harsh on you, and I legitimately apologise. I used to think I could never own a house, I was working a relatively low paid job, and actually said similar things to what you do, "prices are too high, I'll never get in the market etc". Making the leap and getting something was one of the best things I've done.

                        It's getting harder and harder every day to buy somewhere in this country, get in now while you can. The government (no matter which side) does not care about you, and they don't care about the cost of housing, they just want to keep cramming people in here and keep the gravy train chugging along.

  • GG57 on 06/09/2023 - 14:00
    +3

    Australia Plunges into Per Capita Recession - Thoughts?

    I have no specific thoughts on the subject.
    I can't make any changes to impact on this, apart from voting at the next federal election.

  • GordonD on 06/09/2023 - 14:42
    +5

    If we decided it was a recession based on GDP per head of population Australia would be in recession regularly and often, including now. But they hide it by just talking about GDP.

    The current recession that they refuse to call a recession is the result of the current large immigration numbers. That's what happens when immigration numbers are big. It doesn't increase the GDP per capita, it just increases the total GDP. We could dig ourselves out of the economic hole Australia has been in since Keating by spending the wealth we are creating in this country on improving productivity instead of spending it all on building the ever expanding infrastructure needed for the rapidly increasing population. We're not building muscle, we're building fat.

  • jellykingdom on 06/09/2023 - 15:14
    +2

    Remember Macrobusiness is very blatantly anti-Labour and anti-immigration. Not saying the numbers aren't real, but they are exceptionally biased as a source

  • netjock on 06/09/2023 - 15:21
    +2

    Per capita is only a measure. Just don't have a personal recession!

  • AustriaBargain on 06/09/2023 - 15:22
    +9

    If only we were investing trillions more a year into our own arts, science, and industry, instead of into existing bloody houses. Between April 2020 and February 2022 the value of our houses somehow grew 2.6 trillion dollars. Existing houses just sitting there for that period are somehow was equally as productive as 112 billion extra man-hours of minimum wage work, except they didn't produce anything, or discover anything, or create anything we can export like the ABC's Bluey. They just sat there making more money on paper, inflating the bubble bigger and bigger.

    • jv on 06/09/2023 - 16:34
      +1

      except they didn't produce anything

      what ????

    • brendanm on 06/09/2023 - 17:45
      -3

      How many degrees do you hold?

      • brendanm on 06/09/2023 - 19:16

        Genuine question by the way, I thought you had more than one, but don't actually use them in your work? Correct me if I'm wrong. Is that the sort of stuff we should be investing in?

  • jv on 06/09/2023 - 16:32
    +1

    Australia Plunges into Per Capita Recession - Thoughts?

    What is Albo doing about it?

    I bet he's not even in the country again…

    • Trying2SaveABuck on 07/09/2023 - 06:59
      +1

      What is Albo doing about it?

      Nothing - he is an absolute fraud almost all the promises he made pre-election he has broken guys all he cares about is the Voice which is probably the dumbest pointless least thought-out referendum in Australian history

      Hope when The Voice is voted down the ALP replace him with someone more competent

      • terrys on 07/09/2023 - 08:31
        +1

        Has the guy and his sidekick apologised and corrected the record regarding the lies about the independent electoral commission appointed and employed by the regime they were senior members of yet?

        I doubt it - still spewing bull-shit in an attempt to muddy a debate with confabulation, half-truths, lies and complaints about his inability to understand a clear document handed to a government he was a cabinet member of in 2017.

        A short list of the number of times the PM's commented, compared to one of the leader of the opposition would be a fair test of your claim.

        Where would Labor find an ex Terry Lewis era vice-squad sergeant who accidently found himself quite wealthy or a prosperity-cult fundamentalist fanatic who considered it his right to secretly try to run the show single-handed?

  • dcep on 06/09/2023 - 17:09

    Australia Plunges into Per Capita Recession - Thoughts?

    Australia is miracle country running recession free for over 30 years with no housing crash.

    Everytime someone calling housing crash, like this year house prices just continues to go up again.

    • Drakesy on 06/09/2023 - 17:16
      +1

      Australia is miracle country running recession free for over 30 years with no housing crash.

      Actually we were in a recession prior to covid…

  • dtc on 06/09/2023 - 17:57

    Why do people still reference macrobusiness, which is an anti labour, anti immigration platform with journalists of limited skills or knowledge

    • Ghost47 on 06/09/2023 - 18:52

      I'm not sure if you can label Macrobusiness that way, from the articles I've read from them they're more anti-stupid than anything. Also didn't neg you FYI.

    • Alice McGregor on 23/09/2023 - 15:32

      They are neither anti Labor nor anti immigration.

      They are anti mass immigration and the governments that support it. That included the Abbott, Turnbull, Morrison, Berejiklian, Perrottet liberal governments.

  • Tomcruise on 06/09/2023 - 20:15

    We have bern up the crerk for 20 odd years. Immigration and lowering Interrst rates were our.Ecomomic drivers.

    But as the number of people wanting a slice of the PIE grows , every persons slice gets smaller.

  • terrys on 07/09/2023 - 08:12
    +1

    " is the Albanese Government’s unprecedented immigration program,"

    Citation needed.

    Would that be the bounce-back to the decade long norms after almost all immigration was closed during a global pandemic?

    I'm having difficulty understanding whether you are innumerate, ignorant or are just an ideological troll with the same regard for the truth as the bunch of chancers and charlatans we just ditched after the stench got to strong a short while back.

  • shaybisc on 07/09/2023 - 08:31

    I seem to recall reading this same story often - per capita recession, GDP only propped up by mass immigration - during the 9 years of the Coalition government. They are both running the Big Australia ponzi scheme.

  • garddn on 07/09/2023 - 08:35

    Mass immigration. There's your elephant in the room

  • eddieboy2 on 07/09/2023 - 08:42

    At least Paul said it was "the recession we had to have". The RBA has, as usual, gone too far too fast, and ordinary people always bear the most pain when the economy stalls. Took too long to get rid of RBA chief, but at least he's gone now, until he surfaces in another job for the (not so good) boys?

  • altomic on 07/09/2023 - 10:54

    I just feel sorry for the battling aussie corporations that are struggling in this turbulent post-covid economic time e.g. qantas, coles, woolworths, etc.

    more corporate tax breaks are required.

    /sarcasm tag

  • tonka on 07/09/2023 - 11:15

    There has been a long term population growth target set for ages. I expect a multitude of forecasting depends on it. It immigration is accelerated at the moment it will be a catch up because of co-vid restrictions.
    While I would love us to sustain our own population growth, previous government environments have left us with a declining population.

  • StingyBritches on 07/09/2023 - 11:34
    +1

    At my aggregate level, dandelions contributed 0.5 percentage point to growth, led by 8.2% increase in bindies. Clover investment increased by 0.6%.

  • 2esc on 07/09/2023 - 12:52
    +2

    The easiest simplest way to create economic growth for the country is increasing population.

    Problem is our infrastructure is not growing to match that growth and what expansion we do have is sadly onto some of our most fertile farming land (Victoria).

    A few years ago they were going on about our aging population and the tax demand in the future and yes its a small number(immigration) in relation to our overall population but what impact does it have. Younger immigrants on average would be better in that case.

    With the housing crisis a immigration reduction for a couple years could be better to allow time for more housing to be built.

    Im interested in what the total number of people in Australia actually is not just the population which is about 26,439,111 but every one citizens, tourists, immigrants awaiting processing, work visas, people who have overstayed their visas etc is it 30,000,000?

  • ColtNoir on 07/09/2023 - 13:16
    +1

    From all accounts, immigration is just a catch-up for those lost during Covid years.

  • payless69 on 15/09/2023 - 10:53

    When the US sneezes:
    Australia coughs!
    This could be forseen when Biden got in.
    Happy money printing!
    Just wait for BRICS to have its own currency……

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