What Are Some of Your Predictions Given The Current State of The Global Economy?

Unless you've been living under a rock, times are tough

Petrol prices sky high, cost of living increasing, property prices not stopping their upward trajectory.

What are some of your predictions for what's going to happen?

Will ICE cars be cheaper? housing? recession?

Comments

Search through all the comments in this post.
  • +56

    Q: What Are Some of Your Predictions Given The Current State of The Global Economy?
    A: This year Amazon prime day will be meh again.

    • +9

      Not a prediction when we all know it's true.

    • +1

      Sounds about right

  • +22

    Aliens are going to come and fix everything.

  • +17

    In 2-3 years time everything will be fine and people who just kept investing/didn't panic will be much better off.

    People who are freaking out now will just be freaking out about something new in the future.

  • +16

    People are going to take the rind off the watermelon before going to the checkout to pay

    • +8

      Rumor has it a bloke got banned from Woolies for trying to buy half a banana… the half without the peel. He'd have to be lurking on here. 🍌

      • Woolies has FREE fruit for kids.
        No need to pay.
        Eat what you can whilst in the store

    • +5

      I never thought of this, but I will continue thinking about it now.

    • And take the fat off meat, lamb and pork before paying

  • +16

    The rich will get richer 👍🏻

    • And many of them will be in a secretive book at end of the day

      • +6

        And then what?

        So far still zero arrests.

        • +1

          The system cannot arrest & prosecute itself, but can return every 3-4 years, when you vote harder.

          • @whyisave: Looks like. :(
            What's really amazing is how many people keep voting the same way every single time, complaining about it for the intervening years and then vote the same way again convincing themselves of the fantasy that 'it will be different this time'……

            • @EightImmortals: Just because you are standing in a pool of horse sh* t right now, doesn't mean you jump in an even bigger pool of pungent bull sh* t to fantasize that 'it will be different this time'

      • +4

        in a secretive book

        The Jeff Epstein Memoirs Volumes 1 through 13?

    • Yep, you can bet your bottom dollar that this will keep happening until they are so rich that we revolt against them with a civil war once we're sick of being rent slaves and starving to death in tents. The only difference now is that if they figure out how to mass produce terminators, we're all screwed, we can't fight against AGI terminators.

      • +1

        we revolt against them

        Until the farming class revolts, there really won't be a revolt.

        The middle-layer of society is constantly groomed to be in friction with each other, and unless collectively they all decide on a bank-run, the only hope is for the farmers (like in France) driving their tractors to Parliament House or elsewhere, dumping manure at the front , rioting and stopping food production.

        • +2

          Farmers revolting (more than French spectacles) will just turn urban peasants against the rural peasants (more so than it is now). Besides, most farmers are debt slaves just like their city cousins.
          The farmers will be thinking "What if I'm the only one to revolt? I will lose my farm, my home, my livelihood, maybe even my family." so they mostly won't do anything.
          A successful revolt needs to be more subversive.
          In the meantime vote with your dollars, vote with your attention, and stop voting for the uniparty and controlled minor parties.

          • +2

            @tenpercent: Yes, you are absolutely correct.

            most farmers are debt slaves

            I was referring to historical revolutions (eg. in Europe), where the farming class protested, forming the impetus for major revolutions.

            As more people went into debt, over the last 50-60 years ie. become debt-slaves, the ideological fight got extinguished because of that, and to top it off, the constant reminder of the "culture wars" with imported people, is ensuring there is never a co-ordination between them all, to challenge the control-net.

            A successful revolt needs to be more subversive.

            10 October.

      • Have u read Marxism? Haha

  • +16

    No matter how tough it is in Australia, thank goodness none of us are sitting in Iran or Gaza right now, or even parts of Lebanon, and pretty much the bulk of Africa or the Americas.

    • Bold of you to assume we’d still be alive at this point.

    • -8

      No need to go there, ALP and the Greens are bringing it here

  • +12

    It's weird. I remember recessions in the 1980s being substantially more impactful - I knew families where nobody could find work, and families moving in with other relatives to afford food and shelter.

    I feel the hard times today sucks because work is hard and low paid and housing is expensive, but there is work available, which makes a big difference.

    I don't think we'll see the really desperate times again - I think people won't stand for it.

    • +7

      I was only a kid in the 80's, but I remember my father being down to his last $50 and my parents arguing about what was most important to buy. We were on a farm and growing our own vegies and milking the cow for milk and processing our own meat and it was still incredibly tough.

      So yeah I agree while times are tough they are pretty mild to what many went through in the 80's.

    • +6

      I don't want to disagree, but the Work from Home will easily change to Work from Philippines or Work From India.
      In India, dabbawalas deliver lunches in a whole subculture, and the work from Homers could well find themselves redeployed in low paying jobs

      • +13

        People have been saying that for 5 years now though, "better go back to the office or you'll lose your job to India!". It has happened slowly, but it's had nowhere near the impact AI has had. Companies are very aware of what their employees do, if they could have farmed it out overseas they would have already done it.

        • +4

          if they could have farmed it out overseas they would have already done it.

          This is purely anecdotal but ironcially

          I had a chat to a guy yesterday that replaced 7 team members in his business all on salaries ranging 70-150k with 7 people from Vietnam he is paying them equivalent to 35k pa and they do just as good work and are obedient to the company

          I dare say it is happening more and more

        • +3

          People have also been saying that they will quit if they are asked to come back to the office, haven't seen anyone do it. Heck a friend just went from a job that was 1 day a week in the office to 3 because it was a better job with slightly better pay.

      • +1

        I heard India was outsourcing work to Africa?

        • +1

          Africa is India's India

      • +1

        Absolutely true, luckily nobody can understand their accent so they are not a popular replacement for people just like AI that keep going in circles and produce fake outcomes. Once those things are fixed up, everybody will lose their jobs.

      • +1

        If companies want to move jobs overseas to save cost, I doubt they care about Bob wanting to come to office to prove he is worthy of occupying physical space in office.
        This argument is one of the strangest I have repeatedly heard against WFH, like if companies want to move jobs overseas, they would actually be campaigning for WFH, so it is easier to move jobs overseas. Then why are companies opposing it?! If a company sees offshoring as an effective strategy, unlikely that they will care if you want to work in office or home, your job is going away either way

      • I've worked many times with overseas teams. Sure, they take our work, but they don't do the job. If they don't work for outsource that deliberately creates inefficency because they charge by the hour, they are heavily influenced by that culture.
        So far replacing one Aust position takes 3-6 overseas. And endless meeting by your execs fixing problems and literally crying in frustration rather than doing your job adding customer and product value. But at this point you will be owned by a global anyway who does not care about your Australian profit margin anyway.

        • So work from home people in Australia would have the same productivity?
          Maybe agreed parameters for each task type and keystroke tracking would do the trick for productivity.
          Let your Exec know and get a big promotion

          • @Clickbait: Just doesn't work that way. Decisions are made in global management. Aust is a unique country but not offered unique solutions umder current centralisation models. And global busi ess leaders do not care. I work in employee services, they don't give a damn if we are in a wage theft situation because of software gaps, if we are non compliant with ATO or Fairwork, we are 2-5% of a global revenue and the only option is accept a global model. I've seen regional execs in several businesses go from, frustrated, to tearful, to afraid to lose job if they push back any further. And outsource teams know hkw to play their game. They identify the local gatekeeper and start discrediting them with complaints to undermine and get projects signed off without any milestones achieved.

            • @tonka: But Wesfarmers has been at it for a decade. If are you in the Small Business Market, it's better to build one to one relationships?

              • @Clickbait: I don't understand your question. Wesfarmers has wfh in Australia.

                • @tonka: What don't you understand? Of course they do.

                  • @Clickbait: Of course they do what? Been at what for a decade? I'm responding to a post that says WFH will just go OS. I am saying overseas WFH is ineffective compared to domestic WFH. I don't know Wesfarmers complete structure, but I know they support domestic WFH. So I don't understand your dispute of my comment.
                    Do you ever get an overseas call centre and they take your call and then just go quiet for 30 minutes. Do you suspect they just wandered off to get lunch, watch the cricket and left you on hold. That's probably just what happened. That is relayed to me from people that have gone to inspect their overseas service hubs. They find a big empty room full of empty desks absent of the people paid to be there.

    • +1

      Everyone just becomes an NDIS support worker

      • The ndis is valuable and useful, and definitely needing review and scrutiny.
        It’s exactly the kind of support vulnerable people need, but I agree has had abuse.
        It’s a support a wealthy country has been able to provide. If things get tighter, i am sure the scrutiny on it will get sharp.
        Like all government support programs it should be run efficiently to the point nearly everyone who qualifies should get it, and nearly no fraud happens. And the people in the grey areas get speedy resolution.

        • It as majority abuse. It's a terrible waste of money.

          • @brendanm: Probably if your personal experience is people getting good help or headlines in the Murdoch media the judgement is different.

            My experience includes both, and I recognise criticism from non-profit providers who have been delivering services for decades who have found it imperilled their operations - so I agree there is scrutiny and efficiencies needed - but also people who had substantial needs that weren’t being addressed under old models. To the point that people see a future besides worrying what will happen to their disabled kids when they die and they no longer see murder/suicide in their future.

            I balance every headline of some scumbag defrauding the system or rorter lining their pockets within the letter of the law against that.

            So I am really careful to not throw out the baby with the bath water about reforms to more carefully target funding.

            I do recognise the way the system is currently run only works in good times, when scrutiny on payments is less and the edge cases is lower and there is scope for abuse. I wish the government of both stripes would be stronger in good times to make the crack down in bad times less urgent and likely to sweep up genuine needy cases - but that, apparently, is how politics works.

            • +3

              @mskeggs: My wife works in the Queensland health/mental health system so sees how the NDIS works first hand. It is rorted 24/7. Even when people are actually receiving services, because it is for NDIS it's charged at 3-4 times hat it would normally cost. Lots of the people doing carer roles couldn't care less.

              She sadly had turned up at a clients NDIS accommodation one day, 3 NDIS workers sitting around on their phones. Guy had sepsis on a wound and had had a stroke and was just ignored. Had to call 000 and get an ambulance, he ended up dying.

              In addition to the overall shit level of care, the insane amounts of money spent on some people is just too much. There are thousands of people on over $1m plans. 1 person. 1 million dollars or more. Had a convicted sex offender on a $900k plan.

              Sorry, but the whole thing is rotten to the core. This is one of the cases where the headlines don't even do it justice.

    • I do not remember the 1980. I was tiny :)

      However, I find excitement when I see the stock markets of 1980s. Must have been great time to make wealth.

      • +8

        Interest rates on mortgages were also 17%, so not great. On the other hand, houses were about 1,000% cheaper, and a family coukd still (if they were reasonably careful) live off one salary.

        Disclosure: I was senior manager treasury for a merchant bank at the time, and the crash wasn't pretty.

        • +6

          You'll remember too, that credit was much more tightly controlled. Many people who today would be classed as A+ credit risks had to borrow as subprime from non-traditional lenders because they didn't have 30% deposits and enough assets to put up as collateral.

        • -3

          a family coukd still (if they were reasonably careful) live off one salary.

          Feminism wasn't so much a concept then "against the patriarchy", until (arguably) it was an idea driven to increase the tax base.

          • +2

            @whyisave: Feminism has been around for much longer than that:
            "Originating in late 18th-century Europe, feminist movements have campaigned and continue to campaign for women's rights, including the right to vote, run for public office, work, earn equal pay, own property, receive education, enter into contracts, have equal rights within marriage, and maternity leave. Feminists have also worked to ensure access to contraception, legal abortions, and social integration; and to protect women and girls from sexual assault, sexual harassment, and domestic violence.[10] Changes in female dress standards and acceptable physical activities for women have also been part of feminist movements.[11]" (Wikipedia, if you'd like to learn a bit more about it).

          • @whyisave: Sex Discrimination Act 1984 suggests otherwise.
            The plan to increase the tax base was long underway by the 1980s.

      • +3

        It was only a great time if you already had wealth, interest rates were so high that any debt was crippling.

        • +3

          Still lower mortgage repayments vs wage than today.

          • +1

            @brendanm: only by a little, people also forget until the very late 80's tax rates were also significantly higher.

            • +9

              @gromit: Average wage 1989 - $27,000
              Average house price 1989 - $90,000
              1 to 3.3 ratio.
              Average yearly mortgage payment on $72k at 17% - $12,532
              46% of wage to mortgage at all time record highs of interest rates.

              Average wage 2026 - $100,000
              Average house price 2026 - $1,000,000
              1 to 10 ratio
              Average yearly mortgage payment on $800k at 6% - $61,828
              62% of wage at a time of low interest.

              People are significantly worse off at this point in time.

              • +3

                @brendanm: tax on 27k was 25%, tax on 100k is 20%, so while you are definitely worse off the gap is not as big as you make it out especially when you consider many other things have come down in price compared to those times, hell even milk despite everyones bitching is comparatively cheaper now than it was then.

                • @gromit: Lots and lots of things are more expensive.

                  The high interest rates were a temporary problem. We now have a permanent problem. That is the biggest issue.

                • @gromit:

                  hell even milk despite everyones bitching is comparatively cheaper now than it was then.

                  I can't live in a milk carton.

              • @brendanm:

                Average wage 2026 - $100,000

                Where is this figure from ?

                • +2

                  @whyisave: An approximation from mean and median full time wages.

                  • @brendanm: Where can someone corroborate this amount of the mean and median full time ages, for a male and a female in Australia ?

                    • @whyisave: I can't tell if you are serious or not. We live in an age where information is at our fingertips. This sort of information is almost like information that some sort of government body may keep stats on. If only there was a way to find out what this could be.

                • +1

                  @whyisave: its actually predicted to be $104,000 for 2026

                  • @gromit: …predicted by whom ?

                    (assuming the amount is Gross / Pre-Tax )

                  • @gromit: $104k mean I believe. Which isn't a super realistic number to use.

      • When you bought a house in the 1980's you were buying one of two options, either a brick weneer in the new suburbs or a pile of junk in the burbs. you paid quite a bit more in th enew areas, but the old suburbs had the "bonus" of buying a 50 years old in need of full renovation, which you and/or your friends did as spare money became available. This usually included replacing roof and drainage, replacing lathe and plaster, installing insulation in the roof and walls , replacing all wiring, plumbing, including gas improving the skillion, putting some sort of paving in with a proper clothesline, even moving the dunny closer to the house, and gardening.
        But sometmes, even well within 10 years, you could see the light. Those same houses are highly desirable today
        Now, the banks screw so hard. you cannot afford to buy a house that is not complete with every "fashion" on the market
        Visits to McDonalds were a birthday treat, and no-one bought Coffee. You got it at work.
        My grandchildren will not touch food that has touched the ground for a millisecond. and don't ask them to use anything but their preferred toilet paper.
        The 1980's were a hard work world. The world has changed a lot since

  • +8

    Electric cars will get more popular, especially the low priced models. ICE car sales/prices will struggle

  • +5

    Meanwhile, I am here worrying Po**hub access

    • +5

      What's Porkhub?

      • +12

        Homer: Lisa, honey, are you saying you're never going to eat any animal again? What about bacon?

        Lisa: No.

        Homer: Ham?

        Lisa: No.

        Homer: Pork chops?

        Lisa: Dad! Those all come from the same animal!

        Homer: [chuckling] Yeah, right, Lisa. A wonderful, magical animal.

        • +4

          This is where he imagines each piece of meat and where it comes from on the animal, right? …and then he imagines a hotdog and the meat comes from raccoon, cardboard, a boot. Classic!!

      • +10

        It's Poemhub
        For people to express feelings, ideas, or stories, frequently arranged in lines and stanzas.

      • +1

        It's the most popular hub of Muslims.

      • Ponghub.
        To play online pong.

      • A meeting place for John pork enthusiasts

      • -7

        It is Poophub.

        I site for people with Fecal incontinence

  • +5

    predictions,
    The obvious
    lots of grocery increases with cost of diesel.
    Property price will decline slightly with Cost of living plus interest rate increases

    EV price drops will stop with current fuel prices, ICE cars will see drops in both demand and price, especially the gas guzzlers.
    Tradies will be questioning their decision making on buying oversized inefficient American Trucks.

  • +4

    Australia will probably end up in recession along with a few other western nations

    • +2

      Is it not in recession already?

      • -2

        Per capita yes we have been for almost the entire time we have had this government

        But technically we are not in recession [yet]

        • +10

          not just this government, we hit our first per capita recession this century in 2018/2019. been a bad 7 years.

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