Trouble in 'Paradise'?

https://youtu.be/Fx-AsLg15ts?si=QEnJzh-SkQOmjjek

The surprising thing with these analyses are how the tone and points have remained exactly the same in 2015, 2019, 2023 and now. The more things change, the more they stay the same.

TLDR version -

Australia is in economic limbo because -

• real wage growth stagnant since 2009
• living standards thus have stayed the same as 2 decades prior.
• Lower productivity due to negligible spend on R&D and high tech
• Growing divide between haves and have nots if the lens is put over wealth instead of income
• 93% of wealth (mainly driven by houses) in last 12 years has gone to the top 10%
• lower income earners are the ones that spend whereas rich only invest in financial markets and housing, both of which are non productive assets.
• slowdown in china, therefore lesser avenues to export our main driver..iron ore
• housing supply not keeping pace with demand
• high immigration driving high rents

And, last but not the least, ZERO political will across the board to fix anything. I got mine now you get stuffed attitude that will keep australia this way for a few decades.