Some people have commented "Thank God Daniel Andrews couldn't print money like the federal government." It didn't matter. He just borrowed it. Leaving Victoria with 10 times the debt than when he came into Power (Note the capital P). When the printing machines run hot, a lot of things are set in motion. Sometimes the lag is years. Some people take refuge from inflation in property. The one thing you can't make more of. But then the government taxes that to pay for their printing. Some people run to shares. But then it creates a house of cards when the valuations have no foundation. At least properties have foundations. Another thing that happens is the class divide. With high inflation created but expansionary fiscal policies, retirees on fixed incomes like pensions get squeezed. And they can't improve their situation. Low income workers whos wages increase at a lower rate than inflation struggle to live as well, increasing poverty. All this increases unrest and a divide between the haves and the have nots. Ironically, in Victoria's case, created by the party in power that is supposed to be championing the cause for lower income workers. It's a different world today than it was prior to the 2000 Dot Com boom, after which the first massive stimulus programs saw no end. We've had a couple more since then. Budgets are out the window. So long as every country takes the same approach, we're all on the same playing field.
And that playing field always ends up in the same place: inflation. Why did Australia need to ape the policies of Europe, which we know since 1968 result in lower living standards and social decay? Answer: because that's the socialist agenda, the more people who depend on the state, the less chance they'll vote for anyone who'll reduce the state. The left has never cared about the lower socio-economic classes (read the history of the Russian revolution) they are simply the fodder for regime change. Political parties have moved steadily to the left of 60% of the population (e.g. Voice referendum) and we now have a similar choice as France, outright left or soft left. If you think the Liberal party cares about small business, you're dreaming. It's just a marketing label for them. We've had an unprecedented 30 year holiday from inflation (1990 was the last year it was above 5%) due to the industrialisation of China reducing consumer prices. That phase is over and productive people (small business owners, tradies, miners, etc) now have to pay for the massive growth of the unproductive workforce (govt, lawyers, university admin, HR, etc). The only possible outcome is lower living standards for all. Add in excessive immigration and the fundamental nature of our society will change. No more home ownership for future generations, just a lifetime renting high density apartments. If you plan to visit Paris, go to the Banlieues in the north east of the city. Don't go at night. It's what our political class are busy creating for Sydney and Melbourne. Image Unavailable, Please Login
You "won't" believe this but when we did a tour of the OPTUS stadium in Perth during the rally they made a big issue of the fact they have a prayer room ....... really ??!! Praying for an Eagles or Fremantle win hopefully
The REAL PROBLEM is people who think any government LEADS. They follow what the people are whining for in the hope of being elected. NO ONE would vote for a government who would actually legislate for what's needed (eg fiscal restraint, winding back middle class handouts, enforcing the existing laws re foreign ownership, foreign 'investment', foreign companies taxation etc etc.) I think it is just a consequence of decades of pandering; rise and fall of empires etc. All the western nations have tipped over the top of the cycle IMHO. The question is just how rapid the decline is going to be. We're already at a major divide where the only people who can afford to buy a first house now are those with access to the Bank of M&D or an inheritance. A 30 year old architect on $100,000 year has no chance being able to buy a block of land and build a small (but whizzy) house that they can make a decent profit on, as my generation did. The decline of the Australian dream can be summed up by: 1. People of my grandparents (french polisher & housewife) era saved up to pay cash for their house (small, kept until they went to a retirement village) 2. People of my parents era bought a house with mortgage and worked to pay it off well before retirement, again many stayed until they went to retirement village. 3. My generation bought a house with a manageable mortgage and kept trading up, but still most were debt free when they got to retirement. Many (like me) have downsized to pocket cash for retirement. 4. The next generation have bought houses with big mortgages but keep taking on bigger mortgages to upsize / utilise increased 'value'. Lots won't have much equity when they come to retire. 5. The generation following 4 are stuffed in many cases... Wages don't support house prices, expectations are too high, the nett return from selling M&D's place will not be what they hope...
Sad again-This magnificent 1910 Edwardian home on 1,200Sms was sold in October for 8 million -Now GONE bulldozed. So over the Mainland Chinese coming into my area and destroying magnificent period homes to build their cheap nasty modern rubbish ! They really are grubs with their money laundering and the way they behave Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
The money laundering is rife in Australia with them -they do it in so many ways, share trading, exporting /importing, invoicing and full-family holidays with 50k each
The vendors are most likely some left-wing grubs that no one liked, and all Kew are glad they are gone.
Gone back to France -to enjoy all things great in France including Muselim's friendship Such a pretty country .........pity the French and the Muslims live there.
Smart people don't OVERPAY for property and on the whole those who buy around here are smart -The Chinese with their money laundering just keep bidding and overpaying, easy come easy go ..........and overtime loose the homes to the AFP -Not all that smart just corrupt.
France and Paris in particular now is an absolute ****hole. The French were bad enough as people but now add Islamists to the mix
