Big Australia Becoming a Big Issue

When it comes to the economy, there are four ‘I’ words. Inflation, where prices become more expensive over time, which isn’t necessarily bad if wages keep up, but they’re not, as we’re seeing in Australia. The purchasing power of consumers is inevitably reduced, eroding people’s real income.

Our second ‘I’, Interest rates. Obviously, with higher inflation comes higher interest rates. Although over time, interest rates have come down significantly, that’s not the issue. The issue is that rates have rapidly increased over the last year-and-a-half or so to the current rate of 4.35%, consequently, people’s mortgage repayments have increased dramatically. RBA Governor Michele Bullock has basically stated that interest rates are a blunt weapon that disproportionately affects different segments of society, particularly younger Australians who bought real estate in the past three years. She said, “I acknowledge the pain borrowers are feeling, but the bank’s statutory objectives are economy-wide outcomes, and our key tool — the interest rate — is a blunt one. The board must therefore set its policy to serve the welfare of Australians collectively.” So basically she’s saying, “If you’re struggling to pay back your mortgage, tough luck! This is not about individuals… This is about the collective!”

Our third ‘I’ is Infrastructure. Obviously, without infrastructure, our economy falters. As our population increases, again, obviously, we need more infrastructure. Do you think Dancing Albanese is investing in infrastructure? F*** no! According to the Guardian, “50 projects to lose funding under Australian government’s infrastructure spending review. The Albanese government’s review of infrastructure spending was released on Thursday, with 50 projects worth $11.6bn to lose funding across the country.” And, “‘We deserve our fair share’: state Labor leaders clash with federal government over infrastructure plan” Yay! Another f*** up brought to you by the Albanese Government.

And our final ‘I’, the one that the Government don’t want to talk about, Immigration. Immigration has become such an issue in Australia, that even the ABC are critiquing the Government’s actions. “The uncomfortable truth about record high immigration levels, rents and inflation”. Basically, they state that: We are in the midst of a full-blown rental crisis; Our immigration intake is running at record levels with up to 600,000 arrivals expected this calendar year; and, Excess immigration has put upwards pressure on rents, given the housing shortages. Obviously, when there’s not enough houses, but we continue to increase our population, there’s going to be a housing crisis. They conclude that, “Trying to pretend there is only a loose relationship between the huge lift in immigration and the sudden increase in rents — which is fuelling inflation — is likely to create more serious social problems in the future.”

“Australia’s population to reach up to 46 million by 2071, ABS projects”. Depending on how future governments deal with immigration, Australia’s population is set to balloon. Almost 46 million according to their high series, 39 million for the medium series, and 34 million for the low series. It should be noted that if immigration was completely stopped, Australia's population would begin decreasing in 2037 before dropping to less than 24 million by 2071 due to Australia’s low fertility rate.

Anyway, Immigration is fuelling inflation. Inflation is fuelling higher interest rates. And the Government are cutting infrastructure spending just when we need it the most. Is the Albanese government actively trying to destroy Australian prosperity?

ANTHONY ALBANESE INSISTS INFLATION IS A GLOBAL PHENOMENON, RBA BOSS SAYING IT'S HOMEGROWN
https://www.abc.net.au/news/2023-11-23/inflation-anthony-albanese-at-odds-reserve-bank-michele-bullock/103142978

'HIGH-RISK' INFRASTRUCTURE PROJECT FUNDING AXED AS FEDERAL GOVERNMENT CONTAINS SPENDING
https://www.abc.net.au/news/2023-11-16/high-risk-infrastructure-project-funding-axed/103111144

THE UNCOMFORTABLE TRUTH ABOUT RECORD HIGH IMMIGRATION LEVELS, RENTS AND INFLATION
https://www.abc.net.au/news/2023-11-21/the-uncomfortable-truth-about-immigration-rents-inflation/103128424

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Allégro by Emmit Fenn