Why Australia's Economy is Doing Surprisingly Badly

Australia's economy has long been the envy of the Western world. But it seems that in the past few months, it looks like Australia's luck has finally ran out. So, in this video, we're taking a look at what's going on with Australia's economy, and why things might get worse.

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00:00 - Introduction
01:06 - Context
04:01 - Australia's Economic Crisis
07:28 - Sponsored Content

[Agatha.wayne]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them.

[John-ibv]

Australian here, small correction. It should be noted that the term "the lucky country" didn't originally refer to our vast resource wealth. The term comes from a book by Australian political commentator Donald Horne, who released a book of the same name in the sixties. The book was a commentary on how he thought Australia was the "lucky country" due to the fact that Australia gained its economic prosperity by chance, rather than by good government.

[nicolasbenson]

Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.

[sirheisenberg]

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[Riggsnic_co]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[equesta]

Another Aussie here. The galling thing is that Australia has an abundance of raw resources that everyone needs, like lithium, uranium and other rare earths but simply exports the raw minerals as is. If we invested more on processing and value add processes like manufacturing batteries, uranium enrichment, and other clean energy products, our GDP would skyrocket.

[seanbowe]

The idea that mining companies don’t control Australian politics is frankly laughable

[thepax]

Wouldn't it be faster to list the economies *without* a crisis at this point?

[rossjohnson]

Missed an important factor... we don't charge royalties on around half the gas we export. We give it away to mostly foreign owned multinationals! And like most multinationals, they don't pay (much) tax either. 😞 Can anyone say 'state capture'?

[BenMaclung]

I'm eagerly looking forward to a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also considering investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen significant trading profits, but there are concerns about the market's instability and the chance of a dead cat bounce. Could you explain why this market phenomenon occurs?

[tinsleyLuna]

The dollar is literally being destroyed / debased / devalued. I just want my money to keep outgrowing the inflation rate. How do i invest about 250k i have parked in the bank and what strategies do i employ to make significant gains and stable cashflow?

[Jeffery-fe]

It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.

[carlossoler-my]

Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.

[greasybrownie]

The saying " The Lucky country " doesn't mean what you think it means.
" Australia is a lucky country run mainly by second rate people who share its luck. It lives on other people's ideas, and, although its ordinary people are adaptable, most of its leaders (in all fields) so lack curiosity about the events that surround them that they are often taken by surprise " - Donald Horne. It's very accurate lmfao
We rely so much on dirt and immigration to keep the numbers afloat, and i'll add selling over-inflated house prices to that list too because Horne would've done so too

[cardiacresp]

TLDR could literally put out this exact video and replace Australia with Canada and it would be just as accurate.

[SilvesterMiles-yj]

Man, I’ve been stacking up $21k in my emergency fund, ready to dive into investing, but with the way Australia's economy is tanking, I’m just sitting here wondering if I should wait it out. Anyone else thinking of just stuffing cash under the mattress at this point?

[tommygunTW]

The housing bubble is disgusting. Given that MP's directly benefit from higher property prices, its unlikely to ever change.

[luishernandezblonde]

Australia, Canada, China, Japan, South Korea, Germany, Italy, Spain, UK and France, they all have one common for their current economic crisis: housing. This is the crisis Australia is facing, and they are not alone.

[PaulStephenRudd-ub]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[aap]

Correction, Australians with homes are some of the wealthiest in the world. The rest of us will rent forever as it is now almost impossible to enter the housing market.