Walk The World In our first show of the New Year, Tarric Brooker and I explore the latest data courtesy of his latest slides. We deep dive on the property market, China and US jobs. A considerable degree of uncertainty underlines the trajectory into 2023.
Tarrics slides can be viewed here: https://avidcom.substack.com/p/charts-that-matter-6th-january
https://avidcom.substack.com/p/a-data-driven-snapshot-of-the-falling
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The Liberal Party started the demolition of the Australian economy when they were in power + now the baton has been handed to the ALP to complete the demolition
Not so many years ago, I approached a local bank for a personal loan, in order to get some “seed capital” to register and start a business. After some discussion the bank staff said “sorry, we can’t do that”. I asked “well what if I borrow the same amount to blow on a vacation?”.
“Oh that’s fine!” They said.
Australia. Gotta love it.
Amen Tarric, nurses n ordinary hard working middle class can't afford homes anymore, wat a great society
Apart from stimulus from China, it must be remembered that when the war in Ukraine ceases, Ukraine will need to be rebuilt. This means iron for steel, etc.
Intelligent and passionate discussion. Sadly to see the short sighted approach in Australia
Brilliant guys top effort to kick off the year! Thank you!
People shouldn't have to work more than 40hrs week otherwise we're is family time? Society is falling apart because kids are not spending time with parents growing up.
Hear, hear. Easy to undershoot CPI and pump out double digit M3 and credit growth when land's left off the index!
Landholding and loan-holding are both non-producing activities that the system rigs so it receives an entitlement to actual produced labour and resources.
Love Tarric's points (and your's Martin too) – his socialist view is real, honest, true and needed.
Capitalism in this country is fundamentally broken and marginalising more and more of the 'Lucky Country' inhabitants, every day.
Sad is right.
Tarric has predicted 97 of the last 3 recessions
I would be interested to know, do you think the Aus govt spending all this money on war planes and missiles is the biggest cause of inflation? There is a kind of blame out onto consumers who spend too much from politicians but are they the biggest cause of it do you think?
Don't you get it they want the market to crash so they can bring Digital currecny yeap total betrayal by our poltician filth.
42:35 One serious downside of a property bubble is that small businesses in city centres cannot afford staff. The wages required to commute into the city makes many small businesses unviable.
Economic investigator Frank G Melbourne Australia 🇦🇺 Hi Guys great content cheers Frank
14:00 mark: The thing with Australia, is mortgage arrears are at historic lows.
The amount of wealth around Brisbane is something to see.
Basically we just don't have a problem (overall).
I do. But I'm part of the 5 to 10% who didn't do well out of covid. A strange as that sounds, that most people did well out of a deadly virus!
16:00: Tarric, are you aware APRA is cutting the buffer of 3% soon? That's going to boost borrowing power dramatically.
17:40: I'm sure of nothing more than the fact immigration will be huge.
No it doesn't end well for the working class, and average person.
But that's not what this is about.
"The people" are there to be harnessed by the rich.
22:00: Umm Tarric, they are idiots. Do yourself a favour, and listen to some TRUE experts who've been spot on about property:
"Pumped on Property"
"PK Gupta"
"Ravi Sharma"
The very powerful and influential Ben Kingsley and Bryce Holdway from the "The Property Couch"
Michael Yardley and his regular guest DOCTOR Andrew Wilson.
32:30: "let the markets be the markets and don't interfere".
Actually that is true.
Now if the government STOPPED intervening in the free market, I don't think we would be in this situation.
Government intervention is the problem.
47:30: Wow! Now that is some interesting data.
Einstein & History says we're insane. Plato had the answer but there's no solution without revolution. Shimples.
Luvvvvv Tarrics ranting! Let it out bro and more of it!
people sell their cars to pay for their kennels!
Ev car sales causing internal combustion engine sales?
Interesting what movies tv programming along with media and education due to the narrative?
It is no measure of health to be well adjusted to a profoundly sick system.
Negative real rates still. Need inflation to fall.
Yes pretty much the economic models and the city suburban (medium density ) model is fundamentally flawed and is in the process of systematically failing along many fronts at the same time. IMO we should look at what basics are necessary for our survival and ensure cities/towns ordinary households are able to easily and cheaply access these daily necessities. I feel we have gone the opposite direction at each level of necessity and entwined ourselves into a global supply chain whether it is capital , food ,manufactured goods and now services we have increasingly entwined ourselves into a thorny bush that has entrapped us at each stage so that now we are facing thorns and sharp barbs at each stage of basic necessity.
Climate change is going to push people into the most efficient affordable low emission homes. Shoebox apartments are the future to support climate change commitments, so the younger generation will have a place to live, but it won't be the Australian dream that was sold in the 70s. Everyone will get a place to live, but you'll still need to pay for a nice place to live. There's a huge global population that needs support to tackle climate change too, and the best solution is to absorb/import those people into our low carbon economy, supporting our demographic pyramid. Instead of wishing for house prices to fall, wish for wage increases to make housing more affordable.
Close to collapse indeed. So many aspects of life have been messed up, essentially by monetary policy and it's side shoots. Look at young people not even feeling they can afford to have kids. The demographic timebomb alone is enough to slowly drag living standards down – lots of generally older people who think they are rich because they own expensive real estate, but not enough nurses to work the hospitals they increasingly need. How rich are they?
The 'country' has been turned into a corporation. This is what we get.
Sell up and move to Christchurch New Zealand 👆 work your AU job remote from NZ, you'll be successful.
Happy new Year. Could tarric do a talk on rural land prices instead of just house prices? Where is John Adams?
Only reason USA had positive GDP growth last October is that they counted the SPR releases in the GDP numbers 🤣
Can we stop talking about capitalism and free markets please? What we have is politicians pulling every lever they can to pump property prices of which they happen to own a lot of…
Paying the mortgage is one problems, I heard some people with children pay $400 a week for child care.
Hi Martin, I don’t think it is all political the main media create an agenda as well
Hat tip to Tarric for the shirt choice. Class.
if the west is to save itself, we will need a revolution to throw out our entire governments, bankers & corporate leeches
Politically it will change when most of the home owners die out over the next 30 years and there are more voters that don’t have a house than those that do.
Thanks. Great sympathy but misplaced I fear.
Are Banks safe considering risk of Bail-ins?
Government insurance on the "free" markets.
A rental property is a business. Interest is a business expense and should be deductible from income. Government subsidies have pushed prices up. Renters should strike, that will correct rents quicksmart.
Government and big business wouldn't tolerate any meaningful change: 260k annual migrant intake plus student and whatever else visas ensures wage claims kept in check, never have one quarter negative GDP and best of all… eight percent annual home price increases forever! 🤪🎉🎈
I am financially comfortable earning passive income & living in my own house… so this is not a personal gripe … but for the life of me I cannot understand WHY financially-struggling Australians don’t PROTEST against the corrupt Government & WAKE UP to the greedy corrupt Residential Real Estate Industry🤷♂️… PROTEST at Parliament House !!!…. PROTEST in the streets !!!…. share this podcast with friends !!!!…. any responsible parent should be providing this podcast to their children to give them a reality-check…. tell them to listen to this instead of all the brain-dead TV shows !!! 🤦♂️… it really does my head in why people don’t FORCE THE GOVERNMENT TO CHANGE !!!! …. force them to make house prices & rents AFFORDABLE ! 🤞🤞🤞
Well done Martin & Tarrick👏👏👏👏
Great video. I felt like you were mirroring my rants about housing in Australia Tarric and Martin. The question pending is which Australian Politician has the guts and resilience to make Australian history and fix housing affordability. Only the Independents and Greens are talking about the issues renters and homeless face. The major parties are only concerned about mortgagees, investors or those who own outright.
Tarric Brooker for PM !
Martin and Tarric. You have missed the point of Chinese stimulus via the Central bank digital Yuan
Agree with getting out of rental property (at least in Sydney) and parking funds in TDs for 2 years @ 4.5%+. Once Labor wins in March, they will mirror VIC and QLD style tenancy laws which discourage landlords.
As governments get bigger our living standards are shrinking. More council bludgers, higher rates, bigger state govt , more taxes etc. In the 50's the council picked up your bin (one bin) and didn't need to build a transgender arts centre.