Many getting left behind as the cost of living goes up | 7.30 | ABC News
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2 жыл бұрынAustralia's increasing cost of living will be front of mind when voters head to the polls for the federal election this year. Inflation has come roaring back into the economy after years of sitting well below the Reserve Bank's target. Alan Kohler examines the tricky situation Australia finds itself in, with increasing prices for essentials but wages barely moving. Subscribe: / abcnewsindepth Read more here: www.abc.net.au/news/2022-03-2...
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@bellmattwebb 2 жыл бұрын
Having to use savings for every day life is what I would define as going backwards.
@Terminatortx33 2 жыл бұрын
Savings what savings.
@bellmattwebb 2 жыл бұрын
@@Terminatortx33 exactly
@jlys5037 2 жыл бұрын
"Let them eat cake ..." - really out of touch with the working class.
@kathleengivant-taylor2277 2 жыл бұрын
U think? A lot of people will end up in the poor house even people that at one time we’re doing well. It’s like the only people that unfortunately will really be ok and not struggling are the truly wealthy. One word greed. Sad state of affairs
@StevieLeigh 2 жыл бұрын
If you have savings, you are rich
@XavierXonora 2 жыл бұрын
Economist earning a 6 figure salary for the commonwealth bank says poor people can fall back on their savings.... What a tool.
@gouravsapra8142 2 жыл бұрын
@Thomas Lauren offcourse Australian economy is weak now ,can even crash in coming years 🤣
@leechowning2712 2 жыл бұрын
Well, the people he thinks of as poor can. It is the people below them that don't have 250$ in the bank that are hurt most.
@_celestial_8752 2 жыл бұрын
Definitely out of touch. Maybe back in his day people were still able to keep a savings but millennials and younger have not been able to do such. The time to do a savings when you’re at home with your parents and a lot of us at that time unfortunately aren’t even thinking on that track. But that’s about the only chance we’ve got to create a savings nowadays that or to go to school and hope that we can find a career
@thecrazylifeandtimesofacra2629 2 жыл бұрын
poor people are poor because they have no savings that would make them middle class hahaha we have no savings hence the word POOR
@thecrazylifeandtimesofacra2629 2 жыл бұрын
i live in america and its the same here
@MiggsMultiple 2 жыл бұрын
I like how the rise in petrol and potatoes is deemed a crisis, but house prices rising from 2-3 times the annual wage to 12-15 is known as 'Shit happens'...
@StreakyBaconMan 2 жыл бұрын
Most politicians have made a hell of a lot of money investing in real estate, and the last thing they are going to do is take any action that will reduce the value of their investments. They don't want affordable housing, because then you're not going to have to rent their unaffordable house and they'll have to sell it for less than what they paid for it. I think it's going to take a whole new generation rising to power who was priced out of the real estate market from birth to change this shit.
@bonghead6621 2 жыл бұрын
Well said it's not an issue in the eyes of the larger older more politically savvy portion of the population largely for the reasons stated by StreakyBaconMan .
@JoshuaMcTackett 2 жыл бұрын
Or even defined as success...
@robbb416 2 жыл бұрын
Talk about it.👏🏼
@Layla12251 2 жыл бұрын
@@StreakyBaconMan they took housing to the last election, it was reframed as a bad thing by Clive Palmer.
@CavemanKlaus 2 жыл бұрын
“It’s not going backwards, people can use their savings” - tone deaf economist, eating up your savings to survive *is* going backwards.
@rosariabirrane2373 2 жыл бұрын
It's more than going backwards, it is going down...
@kathleengivant-taylor2277 2 жыл бұрын
Going too end up in poor house doing that. This economist is definitely tone deaf
@autothrust330 2 жыл бұрын
The 2 years of pandemic, obliterated my savings. Working now with half pay. How could you even expect to save money nowadays. These economists are part of the problem.
@hithere5553 2 жыл бұрын
Economists are the most elitist, vapid, tone deaf, and selfish group of people We’re expected to take seriously.
@kortneyrawhouser6881 2 жыл бұрын
'It’s not going backwards, people can use their savings' - Economist. Question is, what is more backwards than eating up your savings to survive? I for one has been badly affected by all these and at this point, I'm more interested in a solution What is the way forward? Do we just keep suffering? How do we the lower class cope with all of these? How do we get past this phase?
@marlenaaj 2 жыл бұрын
Practical approach; Reduce things that get you sick (that way, you increase productivity and reduce spending on health), Spend only on necessities, Try to invest what you can and spread them locally and internationally but of course be well informed about where you want to put your money and finally, vote wisely. Made my first million this way earlier this year (got help though). Can comfortably wait out this "phase".
@yvonne5449 2 жыл бұрын
@@marlenaaj Amazing approach. the health part is apt... What do you mean by you got help? I could definitely use help right now... I look forward to your reply...
@marlenaaj 2 жыл бұрын
@@yvonne5449 Funny enough, I can honestly relate. By help, I mean I got the services of a pro "Nancy Lynn Lewis", she was in the news a lot in 2018. You can check her out online for more.
@rolandvaughn4364 2 жыл бұрын
@@marlenaaj She's got a pretty decent bio and seems American. Does she work with foreigners?
@katrinaotto7545 2 жыл бұрын
@@marlenaaj This right here is the second time I am coming across this name in a week,, My colleague at work seems to feel she's some kind of God sent angel,,,
@CandycaneBeyond 2 жыл бұрын
That's a bold statement" everyone is sitting on savings, they just use that" seriously, not everyone has a savings. Look at that nurse, she's living paycheck to paycheck.
@missbell1634 2 жыл бұрын
Exactly
@halo8783 2 жыл бұрын
I had savings before I started working at a hospital now I have none and live paycheck to paycheck.
@dedhampster4730 2 жыл бұрын
I have seen it in the US too where degreed professionals like nurses, and govt workers, and corrections officers are living paycheck to paycheck and taking 2nd and 3rd jobs. It is ridiculous to think in our modern world that you have to work 50+ hrs during the week at a professional level, then weekend work and try to monitize your hobby (for me it is quilting commissions) to make ends meet and save for the next crisis.
@CandycaneBeyond 2 жыл бұрын
@@dedhampster4730 there is currently a sign in town for correctional officer for $45,000, sad, they deserve more.
@nanden4641 2 жыл бұрын
It's so out of touch with reality :(
@shahrozbaig5481 2 жыл бұрын
This is what 9 years of lnp get you
@Spacemonkeymojo 2 жыл бұрын
They've been in power the majority of the time since the start of the millennium. It's messed up.
@summertime9963 2 жыл бұрын
Just goes to show having further education like being a Nurse doesn’t always secure you or your family from poverty. What a hard life it must be for her.
@morphix007 2 жыл бұрын
1900? a week>? clear?
@brittanyfehlings6838 2 жыл бұрын
@@morphix007 probably biweekly
@kichw 2 жыл бұрын
@@brittanyfehlings6838 omg that's Low for a nurse if it is fortnightly. It better be weekly for her sake
@teenindustry 2 жыл бұрын
@@kichw it’s because she is an EN RN’s who do the degree as opposed to the tafe course earn considerably more. This does not mitigate what she is saying it’s just context
@kichw 2 жыл бұрын
@@teenindustry wait so she has diploma which is enrolled nurse that's why they make slightly less compared to registered? OK got it makes sense
@tonipwneroni9846 2 жыл бұрын
LNP: Will actually give free money out of our bottom-heavy tax burden to multinational companies who actually made a profit during the pandemic, but in the same breath will tell us that they can't afford to help out average citizens who can't afford basic needs.
@coaldoubt2879 2 жыл бұрын
Wait until you find out that money is just something we invented.
@Whoisthis1111 2 жыл бұрын
@@coaldoubt2879 lmaoooo
@coaldoubt2879 2 жыл бұрын
@Nezumi Nezumi Production IS valuable, yet somehow the rich in society produce nothing but somehow end up with more money. I don't think you've understood Marxism.
@andrewthomas695 2 жыл бұрын
@@coaldoubt2879 To be fair, that tends to happen irrespective of the socioeconomic system in play. Those who seek wealth above all else usually find a way to game the system. Russia is a wonderful example, being dominated by just a few oligarchs.
@coaldoubt2879 2 жыл бұрын
@@andrewthomas695 some cultures see wanting more than you need as mental in illness.
@nicolesaunders6463 2 жыл бұрын
I don't think our government realises how many are on the brink of losing absolutely everything, and these people are hard working Australians! How much longer are we going to keep struggling? More need to speak up😑 we need help out here.
@louisbarningham 2 жыл бұрын
Im from nz and struggle to put petrol in the car to even get to work
@joebloggs9184 2 жыл бұрын
Why carry the "we're hard working Australians"... Australians don't know how to work hard. Highest minimum wage in the world, 38 hour work week, 4 weeks Annual Leave, 10+ days sick leave, carer's leave, compassionate leave... the list goes on... you're all a bunch of soft pansies who did this to yourselves by voting in poor governments with even worse leaders.
@danielleleon2795 2 жыл бұрын
They do realize it, they just don’t care.
@coopsnz1 2 жыл бұрын
That what socialism high taxation does bankrupt more people reliant on government tit
@RARDingo 2 жыл бұрын
Food prices have almost doubled in the last 10 years & rents are increasing steadily. Those of us that rely on pensions/benefits are going to end up on the street very soon. Funny how there's never enough money to raise pensions, but always plenty to massively subsidise mining & oil companies.
@basedsoothsayer 2 жыл бұрын
Plenty of money for the military and war too. In the states it took 5 months for them to scrap together $600 for the citizens, but mere hours to send billions to Ukraine.
@MiggsMultiple 2 жыл бұрын
They just sent your pension pay rise to arm Ukrainians....
@RARDingo 2 жыл бұрын
@@MiggsMultiple I can see the need for armed resistance against Putin. I can't see the need to subsidise multi-billion dollar profit making mining & oil companies that already receive massive tax breaks.
@MiggsMultiple 2 жыл бұрын
@@RARDingo Maybe the nation's that have more to do with Ukraine can throw them money. Maybe this nation where half a state lost its entire life under water can use it here.
@RARDingo 2 жыл бұрын
@@MiggsMultiple I have relatives in Ukraine & I served in the Australian Army for quite a while, mostly during the cold war years. I am happy to send support to those defending freedom from criminal tyrants like Putin. I also experienced significant flooding damage recently. I would STILL rather see money go to people that ACTUALLY needed it, rather than huge, profit making companies that don't. Have I not already made that perfectly clear, or do you have trouble comprehending English as a written language?
@BTBSean0 2 жыл бұрын
VOTE LNP LAST ... thats where they put YOU!
@missw.f2370 2 жыл бұрын
I need that on a bumper sticker!
@mariahewitt9787 2 жыл бұрын
Only Klaus Schwab chosen one's will succeed. Doesn't matter who you vote for!
@123machet 2 жыл бұрын
@@mariahewitt9787 Vote minor parties first put ALL the majors last.
@123machet 2 жыл бұрын
Vote minor parties first put ALL the majors last.
@BTBSean0 2 жыл бұрын
@@123machet Yea great and we end up with another LNP term you gronk
@dallasgraham4520 2 жыл бұрын
Hmmm….5% perhaps 6% inflation….I was forced to buy bread last weekend at Woolworths with a price tag over 100% greater than it was a week prior. How can ANYONE justify that?
@jaamesfn 2 жыл бұрын
I think people with disposable income don’t realise, sometimes we (poor folks) have to choose between our health and what’s cheap. I’ve screwed my disabilities more thanks to having to go without food or medications etc. it’s damn rough.
@joebloggs2312 2 жыл бұрын
What's bread, can't remember the last time I afforded that
@SCFLEUR 2 жыл бұрын
Oh wow how presumptuous of him to think we are sitting on all these savings 🙄💰💰💸
@berenicemarchese1593 2 жыл бұрын
i have been priced out of all homes in my area. a studio apartment in a bad part of town is now over $1,000. meanwhile, all employers in this area are offering jobs for $12-16/hour. most require experience and degrees. i have two university degrees, still being offered $14/hour. i am moving into a schoolie in June.
@richardscathouse 2 жыл бұрын
Do you have foreclosure auctions in Australia? That's how I got my home 2/3 off
@coopsnz1 2 жыл бұрын
She in usa not Australia obviously
@ezerider4273 2 жыл бұрын
Something tells me the barons at the top of the supply chains, particularly oil and gas, are not noticing any drop in their incomes or profits.
@greatone7314 2 жыл бұрын
This is all planned, they are making record profits.
@SpeedySystems 2 жыл бұрын
Never mind the fact that the federal government caused a 50% increase in the cost of building houses and bankrupted a lot of builders and trades
@Schizobateman 2 жыл бұрын
U think this corrupt government cares?
@mariahewitt9787 2 жыл бұрын
@@Schizobateman Why would they care, their wages are so much higher than the average Australian?
@Schizobateman 2 жыл бұрын
@@mariahewitt9787 well hopefully they get what's coming to them when people finally have enough and rise up
@coopsnz1 2 жыл бұрын
Exactly
@micks6797 2 жыл бұрын
I wish people would speak honestly regarding the degree of poverty in Australia. In the 1990's the house was the luxury. Now for many it is the car. I'm in my late 50's and I can not understand why the average Australian excepts the road that this country has been taken down.
@melelconquistador 2 жыл бұрын
Have you considered becoming a economic migrant?
@Revealthereal_ 2 жыл бұрын
People get lazy and don’t have the energy to fight back like the old days.
@Skittenmeow 2 жыл бұрын
@@Revealthereal_ it's not laziness, it's exhaustion. There are so many battles to fight; and when you are struggling to buy food it's hard to maintain the strength to fight. I did what I can but financial hardship, illness, exhaustion and looking after my elderly parents is destroying me.
@Kelly-oe8kr 2 жыл бұрын
Sadly this is the truth! As a single disability pensioner fruit and vegetables are a luxury I haven't been able to afford for a very long time, 3 meals a day... I can't remember the last time I lived so extravagantly. I live by rationing wheat bix (breakfast cereal) for the week before my pension comes. I don't smoke, drink, use drugs, gamble or buy meat but it still doesn't streatch far enough. How can you save for the future when you are barely surviving today. The Government says they can't afford to increase the rate of Centrelink payments I say you can't afford not to, the human cost is staggering... mental health issues, hunger, inability to access medical care in a timely fashion (due to lack of transport or lack of funds for medication), poor quality of life, and social isolation to name a few. How quickly people who lost their jobs during covid forget how inadequate the welfare payments were! More people need to stand up and demand a basic standard of living for ALL Australians.
@youthculture523 2 жыл бұрын
I like Alan, I think he's one of the few good journalists left at the ABC
@dianakriston3549 2 жыл бұрын
I've stopped the video to check the prices where they were visible to compare them to Bulgaria and Hungary (I am Hungarian living in Bulgaria), and it seems like all of those goods are even more expensive here than in Australia. I don't think I should highlight that in Hungary and Bulgaria the salaries are not the same. That's the crazy part.
@DianaTorez 2 жыл бұрын
I moved back in with my parents our rent went up so much I can’t afford it and my other bills and grocery’s
@nikkimitchell5440 2 жыл бұрын
Happening in America too 😭🤬
@highdopamine29 2 жыл бұрын
The rent is probably the worse here in US...
@testpuck 2 жыл бұрын
Pensioners are living on $400 to $500 a week. Some cant pay the rent or even shire rates on there pension.
@joelc9439 2 жыл бұрын
Many pensioners actually have a lot of money and they hide their assets..
@joebloggs2312 2 жыл бұрын
What is rent and rates? - Sincerely, the 125,000 rough sleepers in Australia
@treelover7566 2 жыл бұрын
@@joebloggs2312 I am a nurse and have recently worked in Emergency departments, with people homeless and hungry., not enough nurses because they cannot afford to live in the area, petrol is now becoming expensive. Elderly coming in with malnutrition. Families with children living in cars under bridges, families with newborns living in cars. The past 8 years the same. Medicare is being run into the ground. Poverty is coming faster than ever. The user pay system in on the horizon. The wealthy are getting wealthier and the poor get the picture. Anxiety...hunger more than anything. Ask any counsellor - poverty. And if I hear a Prime Minister say they are aspirational poor and its luck is rubbish. Nonsense wheat prices, OZ makes enough food to feed 90 million a year, Petrol, nonsense - a lot of persons only need an EV, where as some need fuel. Plant some trees.... How about some Human Politics that do not only suit the multi nationals who dont pay tax, and their list is enormous. Couch surfing on a casual job is not working Australia.
@iamimana 2 жыл бұрын
the solution isn't to rise the pay it's to tax the rich but y'all don't wanna talk about that
@mycodingchannel9690 2 жыл бұрын
The upvotes of this comment proves your statement
@aliinwonderland656 2 жыл бұрын
Seriously underrated comment!
@richardscathouse 2 жыл бұрын
American oligarchs park their profits offshore, so they can't be taxed. 🤭🤭🤭🙄🙁
@marcelinorodriguez7628 2 жыл бұрын
I went to the pizza shop for the 1st time since early 2019 2 pepperoni slice with a side of garlic knots cost me $17.25, back in 2019 $8.50
@chopsticksforlegs 2 жыл бұрын
I was doing my weekly shop and this lady came up to me in tears asking for help paying for her medications she couldn't afford. How sad have we become Australia.
@jbar_85 2 жыл бұрын
I’m in the states here but the Australian people I follow on IG, you’d think the go-go 90s were still going. Australia seems very similar to America. We are both going through the same thing…
@mariekatherine5238 2 жыл бұрын
I’ve seen this very thing in the US, and worse. There was an hysterical woman with an obviously sick child at the pharmacy counter, unable to afford the child’s medicine. A bunch of us took up a collection on the spot and purchased it. I think the woman was not legal in the US, therefore ineligible for Medicaid. She could get deported if she applied. Whatever your opinion on illegal immigration, it’s immoral to deprive a sick child of medicine!
@cherylT321 2 жыл бұрын
Did you help her?
@kria9119 2 жыл бұрын
@@jbar_85 literally the whole world is in the same shit. IG is certainly not an adequate source of information
@jbar_85 2 жыл бұрын
@@kria9119 true.
@jacintatate 2 жыл бұрын
Living in Melbourne and seeing the cost of living go up and houses selling for well over the millions is depressing AF. Im 24, working part time and living at home. How are the younger generations supposed to live and thrive when its so bloody expensive!
@porkbelly884 2 жыл бұрын
Yeah, not to mention later on if we want to marry and have children
@coopsnz1 2 жыл бұрын
That left politics goal communism you own nothing
@kamilareeder1493 Жыл бұрын
My parents want to raise the rent for my bedroom to 1000$/month 😪 now even my parents place is gonna be too expensive 🙃 I've gotten 2 new jobs and my income will just cover it. Goodbye saving money/independence 😢
@bigfan2452 26 күн бұрын
@@porkbelly884Australia has a low birth rate due to the cost of living crisis.
@faithselflove1016 2 жыл бұрын
I was in Aldi in Melbourne earlier today 1 iceberg lettuce was $4.50. The prices are getting insane even when shopping at markets and Aldis
@xkimopye 2 жыл бұрын
I swear Aldi is barely any cheaper than Coles
@gdaymates431 2 жыл бұрын
@Kohan kye it is much cheaper. I've done the math haha. I got all the same items at both stores. Coles was like 15 to 20 bucks more expensive. But right now, it's expensive everywhere.
@xkimopye 2 жыл бұрын
@@gdaymates431 I think in general, Coles is more expensive. But if you shop by focusing on specials then Coles is cheaper, which works better for me as I shop by the specials and rarely buy stuff at full price. We never had an Aldi in our area until 6 months ago, I expected grocery shopping to be slashed, but it just wasn’t the case.
@gdaymates431 2 жыл бұрын
@Kohan kye sales are fun. I'm plant based so my groceries are usually only 50 to 60 bucks a week anyway. I sometimes pop into Woolworths to bug Oreos and Linda McCartney sausages haha.
@hrausss 2 жыл бұрын
Haha and gov says inflation is 3.5% 😝
@albertgriffith5801 2 жыл бұрын
Cost of living goes up. Can't afford new cost of living. Guess I'll die?
@becsterbrisbane6275 2 жыл бұрын
It's also too expensive to die!
@iffracem 2 жыл бұрын
Strong growth (prior to pandemic) but real wages dropped.... but but.. "trickle down economics" Tell me the govt didn't lie to us!
@kronicpain7357 2 жыл бұрын
Only thing trickling is yellow
@andreaslind6338 2 жыл бұрын
They absolutely lied. Kick em out.
@matthewscott1091 2 жыл бұрын
For those of us in the US who are curious “$2 a liter” (if I did the math right) is roughly $7.50 a gallon. That’s Australian dollars, so it’s roughly $5.50 (US $) per gallon.
@tatleman5314 2 жыл бұрын
It's like around €2,50 p/liter over here in The Netherlands
@rosariabirrane2373 2 жыл бұрын
£2,95 per litre in the UK...makes it roughly £12 per gallon...
@sarahmc8309 2 жыл бұрын
Iv seen some milks for less than 2.95 pounds
@raybon7939 2 жыл бұрын
I've been riding an electric bike for a few months.
@ravenkorr8167 2 жыл бұрын
@@raybon7939 Try biking 15 miles a day, there and back. Bike won't cut it.
@bera0014 2 жыл бұрын
The biggest lies voters have fallen for? 1. Trickle down economics works 2. Tax corporates and billionaires less as they provide jobs 3. The minimum wage is too high 4. Privatisation makes services competitive 5. The LNP are the best economic managers Wake up people, do you want fairness or the LNP, as you can't have both
@nassalspray77 2 жыл бұрын
Amen
@Ultranety 2 жыл бұрын
Dude labor isn't any better. None of the decent parties get enough votes
@Ultranety 2 жыл бұрын
@Proper how is the gov right wing? They let in 300 thousand migrants a year
@Spacemonkeymojo 2 жыл бұрын
I wonder how many people out there voted Liberal last election and still blame Labor for housing prices. I would really like to know just how ignorant the Australian electorate is, I bet the results would be shocking.
@hrausss 2 жыл бұрын
Haha all our politicians are hopeless open your eyes our problems have been happing under boths lib and labour.
@Keep_calm_and_slave_on 2 жыл бұрын
I’m mad as hell
@davieb8216 2 жыл бұрын
Gareth Aird, at 10mins doesn't understand what going backwards is. Reducing your savings is going backwards. Good job on the interview and editing though, I think they understood this.
@allisonle8596 2 жыл бұрын
The world has gone nuts with greed.
@ashwin372 2 жыл бұрын
Pay rise is controlled by corporates . that's the reason why it is not going up. Also share your salary information that will help you and everyone else
@coopsnz1 2 жыл бұрын
No it not franchise own businesses not corporations
@scott.m.thacker 2 жыл бұрын
It has been a major struggle providing the basics for my family. Then today we find out my wife has some sort of growth on her thyroid. Don’t know how I am going to afford getting her better. Been a major hit on us today.
@richardscathouse 2 жыл бұрын
Thank Fukushima and Chornobyl. Cancers are up everywhere. Pets seem to be suffering most, I had to put two dogs away for cancer in the last two years.🤭🙄🤭🤭
@richardscathouse 2 жыл бұрын
I recently heard the GBR is dying. Idiots are trying to blame climate change.🙁😶🤭🙄🤮🤮
@goobtube69 2 жыл бұрын
This is so sad to hear. I'm sorry to see people are going through this 😕
@jinkings 2 жыл бұрын
"Best" economic managers
@PraveenSriram 2 жыл бұрын
Glad I live at home 🏡 with my parents and this isn’t an issue for me!!
@missbell1634 2 жыл бұрын
Just imagine what your parents must be going through God bless us parents out here holding it down💞
@djack915 2 жыл бұрын
Save all you can and buy some good land to grow food
@PraveenSriram 2 жыл бұрын
@@djack915 thank you
@ashleybosvik3031 2 жыл бұрын
Save as much as you can, as one day you will be on your own.
@PraveenSriram 2 жыл бұрын
@@ashleybosvik3031 I have to take care of my younger brother who has cerebral palsy and seizure disorder so I will inherit the house 🏡 after my parents pass. I have Aspergers myself so life will be very difficult without them and I will miss them greatly.
@cameronmale83 2 жыл бұрын
Cost-push... Rates won't make a difference unless you seek to appreciate the currency. I bet profit margins will stay the same though.
@adambrock7692 2 жыл бұрын
that is years and years of not paying a fair wage
@richardscathouse 2 жыл бұрын
As an American I can understand this
@hfrt29 2 жыл бұрын
Groceries $40 more a week? Not in the US. I'm paying over double
@debbieframpton3857 2 жыл бұрын
I am a senior I can keep my budget under $40 I buy nothing but mark down meat and a lot of other markdown items at my grocery store I shopped this way when I worked full-time and I have been doing this the last two years since I've been on Social Security I live in the states. If you are really struggling you could check out a food pantry I help at a weekly church pantry and I will occasionally take a few items but I don't take food every week even though the helpers are allowed to.
@NashHinton 2 жыл бұрын
The grow your own food
@mattr8750 2 жыл бұрын
That was a great report! One of the best I’ve seen
@craigh79 2 жыл бұрын
Mr ceo of spc definitely eats his own products 😂😂😂😂😂
@MegaDiddlemaus 2 жыл бұрын
Adjust lifestyle and buy only what you need and downsize 👍
@Mattb81 2 жыл бұрын
Those of us on EBAs (enterprise bargaining agreements) with 3 or 4 year terms will definitely fall behind unless we managed to negotiate yearly wage rises well above average.
@kdegraa 2 жыл бұрын
Was the Reserve Bank of Australia’s money creation policy that resulted in the minting of a few hundred billion new dollars to buy government debt mentioned in this report? Each one of those new dollars slightly decreased the purchasing power of all of the other dollars in circulation.
@sadiemakesmesmile 2 жыл бұрын
exactly
@Archdog 2 жыл бұрын
Shhh 🤫 No one, not even the so called “lefty” ABC wants to touch that one 🙄
@Archdog 2 жыл бұрын
Fiat currency is the greatest scam of all time
@adiintel1 2 жыл бұрын
Nothing wrong with Keynesian economics Print money to pay off debts and service of the economy 🤪
@adiintel1 2 жыл бұрын
@@Archdog pyramid Need hard money again.
@scruffy74 2 жыл бұрын
What is “wage growth”?
@tonybruce 2 жыл бұрын
$6.50 for a friggen cauliflower. Cant even buy a basic vegetable with the money pop would have snuck you when you visited him 20 years ago.
@lexluong8155 2 жыл бұрын
Should start small vegetable patch and save some money.
@MiggsMultiple 2 жыл бұрын
Pop bought a house for the price of today's cauliflower....
@tonybruce 2 жыл бұрын
@@lexluong8155 you assume too much
@joelc9439 2 жыл бұрын
Shut up Tony ..
@johnsonburgundypants 2 жыл бұрын
When I went to high school a casual clothes day used to require a $1 donation. Today my 6 yo son had a casual clothes day and it was still a $1 donation. Now, the median house price in 1995 was $120k in Melbourne. Today its $1.1M. Imagine if your kids had to pay $10 for their casual clothes day donation lol, there would be a total revolt. Thankfully we've been able to hold down inflation on the things that matter! P.S. Philip Lowe if you are reading this it is not an invitation to issue Primary schools with a new casual clothes day donation forward guidance.
@boeingdriver29 2 жыл бұрын
Russia, Belarus and China produce around 70% of the worlds Potash, a vital ingredient in all commercial fertilisers, and their all allies. If they decide to stop selling Potash to the Western World a devastating depravation of food would arise. This gives these countries immense leverage over the West.
@Shazzyhtown 2 жыл бұрын
Having to use savings for everyday things is not backwards? Maybe you Aussies have a different definition of backwards then. As an Americans, that is definitely backwards and unsustainable. 🤔
@capucinecolby7387 2 жыл бұрын
No one should be homeless No one should be without food !!!
@richardscathouse 2 жыл бұрын
Ok. Commie
@theIdlecrane 2 жыл бұрын
The moral hazard is that with inflation high, people who have a lot of housing debt is till better off in real terms; cost of debt is currently substantially lower than real inflation.
@jimmygeorge161 2 жыл бұрын
Could the low interest rate is the reason for that?
@Spacemonkeymojo 2 жыл бұрын
Considering more Australians are renting these days and less people own, we shouldn't take care of owners just because of sheer numbers of people who rent. This is terrible for the middle and lower class who don't have any housing debt. Also landlords will simply raise rents to counter inflation further driving the divide between rich and poor.
@Schizobateman 2 жыл бұрын
Will this pathetic excuse for a government actually do something about this for once?
@sadiemakesmesmile 2 жыл бұрын
no
@joebloggs2312 2 жыл бұрын
They can't, they sold out our strategic industries in pursuit of a service economy.
@SeanJ2A 2 жыл бұрын
If the Australia government is anything like the U.S. government, than the answer is no.
@mrsbluesky8415 2 жыл бұрын
Now ABC decides to cover this when it was obvious a year ago. Way to go 😉
@carolynmorris7303 2 жыл бұрын
The groceries just keep inching up all the time.
@richardscathouse 2 жыл бұрын
Because they can.
@hkgamma 2 жыл бұрын
There's a much bigger problem. If you have some serious savings, for example, for a house, you're screwed. BAD.
@michaelcook2290 2 жыл бұрын
That economist near the end saying people won't go backwards because they'll use savings. If your net worth is decreasing how is that not going backwards? I'm sorry but I think that guy is a twit.
@oliverhumphris4771 2 жыл бұрын
Bunch of economic geniuses at the LNP got us here. But sure you can’t trust labor with the economy, as they always say.
@MrZoomah 2 жыл бұрын
Don't forget the biggest employer is government. WA government is holding out for a 2.5% increase to public servant pay. This is on top of years of $1000 a year and the state having a surplus. Private sector pay rises often follow government pay rises. Also, Perth inflation last year was higher than the national inflation with 5.7%. So they want public servants to take a 3.2% pay cut. Yeah.. people think labor is pro union.
@TheMuslimsarecoming 2 жыл бұрын
@@MrZoomah The NSW government capped public service wage rises at 1.5% in 2020 for 4 years. It's always Labor until someone has to point out against the popular narrative that the LNP do the exact same thing. Nsw government also doesn't like to hire full-time staff rather casuals of which a majority quit in the first year due to inability to be an adult in the most expensive state in Australia surviving on casual hours.
@MrZoomah 2 жыл бұрын
@@TheMuslimsarecoming I'm a union delegate and traditionally labor voter. Just annoyed that labor is basically becoming liberals lite now. Serve the mines. Hopefully we get some strong independents
@TheMuslimsarecoming 2 жыл бұрын
@@MrZoomah They went to the last election with incredibly progressive policies and were destroyed by the electorate. It's honestly everyone else's fault they have to move the goal posts to get elected. With the Murdoch media brainwashing the politically uneducated and almost no way to combat it it's impossible for Labor to be the party that they once were.
@axeya366 2 жыл бұрын
Its not just them. Its both of the major parties and those just behind them. All bad policies since the 70s. At the end of the day they are all one and the same party, they all promise everything and deliver nothing and pay rises to themselves is there mandate. They dont care about anyone else.
@rodrigomoura171 2 жыл бұрын
It seems that we, in fact were not "all in this together"...
@MichelleWardley 2 жыл бұрын
100-150 a week .....that was 30 years ago
@joeldecoster8816 2 жыл бұрын
Families are in crisis in every way. And kids still have dreams and know it is not fair, the bitterness and contempt is overwhelming.
@popeyesailorman911 2 жыл бұрын
Thankfully my Houses are fully paid off.... Rent in my area is $3,100+/month and home prices $1.2M+ and up..... it's pretty crazy nowadays... With Fed increasing interest rates a few more times this year will put Home affordability out of reach for most...
@munhl 2 жыл бұрын
Exactly, when interest rates go up, house prices go down.
@edselgreaves6503 2 жыл бұрын
When I was living in Melbourne after the 2008 GFC, rental prices were the biggest obstacle to proper quality of life. Now that I have moved out of Australia due to increasing police brutality and ridiculous mandates, housing is so much more affordable and I am actually able to save and invest, something that was impossible in Australia because every paycheck I got I had to think about this months rent, next month's rent and a future months rent. Don't believe anyone who says Australia was shielded from the housing crisis. You have no idea how much of an inflated bubble we live in until you actually leave Australia and see what other countries charge for rent. Where I am living now you can get an entire house for $600 per month. That's less than what it costs to rent a room in a house in Australia. Just mind-boggling.
@containedhurricane 2 жыл бұрын
A person could only move to a much cheaper country if he/ she has a good online job or business. The developing countries have low salary standards, unless the person works as an executive there
@joelc9439 2 жыл бұрын
Many other countries have a even worse police force and government. Stay where you are Australia does not need you.
@ryanarcher8683 2 жыл бұрын
Got a good point. I’ve been working in digital sector in Thailand for last few years and this is the kind of news that worries me about moving back home. Yes you can definitely save more on an exec salary as food an accommodation is much less. And yes the police and government are all too fond of brown paper bags - but you understand how to live with it and it’s not such a problem. But it’s not for everyone.
@gouravsapra8142 2 жыл бұрын
@@joelc9439 Australia is pathetic ,our politicians are bullshiting us 😂 with fake marketing campaigns
@Ultranety 2 жыл бұрын
@@containedhurricane most american cities only charge $500 a month for rent. Australia is just too damn expensive especially with our stagnant wages
@perinekj 2 жыл бұрын
The problem isn't inflation. ITS FLAT GREED BY BUSINESSES PISSED OFF , they didn't make their profits for 2 yrs. 😊
@karenbrown5552 2 жыл бұрын
Obviously people have too much money. Seriously. $1900 after tax? Let's assume that's fortnightly. I have been surviving for a long time on $600 wk. Single parent. Mortgage. All the standard bills. Private school for my kids. Rationing is nothing new here.
@johnsonburgundypants 2 жыл бұрын
Don't worry Australia. As the RBA says that because you saved so much $$$ during lockdowns you can pay for inflation and they don't need to raise interest rates. I'm not kidding, Philip Lowe actually said it, look it up lol. Meanwhile to our can look forward to your CPI adjusted wage increase off 1.1%
@hrausss 2 жыл бұрын
Phillip lowe is me and my son's favourite muppet. 😝 I want to send him a calculator. do you think I should send it with extra battery's lol
@kidShibuya 2 жыл бұрын
Well if you all voted for green power a long time ago the oil prices wouldn't have the same impact would they?... You reap what you sow Australia.
@MrMr-ws3tv 2 жыл бұрын
You mean like Germany 🙄
@Fishmans 2 жыл бұрын
@@MrMr-ws3tv Germany closed it's nuclear plants for no good reason. More like France
@liam9519 2 жыл бұрын
@@Fishmans Not that I disagree with the original comment but energy prices are still going up like crazy here in France atm
@joebloggs2312 2 жыл бұрын
Do you mean the Brent & WTI prices? Like Australia has any influence on that price 🙄
@hrausss 2 жыл бұрын
Learn about our grid it will get really bad I have worked on it for over 20 years. Go off grid while you have a chance .🌹
@craigh79 2 жыл бұрын
Try being on a dsp where you are put in the same boat as someone on the dole.
@TheMuslimsarecoming 2 жыл бұрын
People on the dole are not your enemy the government who gave billions of tax payers money to profit making billion dollar companies are the enemy.
@joelc9439 2 жыл бұрын
Stfu ... People on the dole still get less.
@joebloggs2312 2 жыл бұрын
DSP is paid more than Jobseeker aka dole or youth allowance
@ksmith2852 2 жыл бұрын
The only positive is that any money in savings/CD will pay 3 percent by the end of the year.
@joek292 2 жыл бұрын
Interest on deposit accounts will lag significantly, don't hold your breath
@alyssajenaway3781 2 жыл бұрын
I live in the suburb next to this woman and have quit nursing because of this very issue. The pay rises I have seen in my entire career barely ever matched inflation even before four years ago and we had to fight like dogs for every single one. Nurses get paid significantly less than teachers by the same government, but our degrees cost almost the same. Teachers get 12 weeks off plus public holidays, nurses get six we are expected to work shifts, weekends, nights, public holidays and be on call sometimes pulling 12 hour days, late shifts backing on to early with barely enought time to even sleep. Shifts never just work with day care hours- you also need before and after school care. And teachers get paid extra for taking students whilst nurses do not and actually can lose thier job for refusing. We are expected to work with the ill and high risk diseases but actually get LESS sick days than many office workers. It's disgusting and the government should be ashamed- I will discourage anyone to be a nurse any day- it's not worth it, nurses are used and abused.
@ksmith2852 2 жыл бұрын
The only winner is the government because they receive taxes on nurses incomes and the higher taxes on consumer goods costing more.
@containedhurricane 2 жыл бұрын
Working in medical field will guarantee a job with good salary and the medical workers will always be highly sought-after, unlike the other fields
@joelc9439 2 жыл бұрын
Teachers who are casual get nothing. And there are more teachers these days. So please don't talk shit.
@MrChowbinbin 2 жыл бұрын
Everything is getting more expensive, only one thing is getting cheap. LIFE
@richardscathouse 2 жыл бұрын
Welcome to America
@wumao6797 2 жыл бұрын
So if everybody spends less there won't be an inflation?
@Thiccness_Is_Delicious 2 жыл бұрын
I live paycheck to paycheck and I make 24usd an hour working 12hrs a day the cost of living has far exceeded the wages earned for decades and greeds gonna lead to humanity's downfall
@jsuter2849 2 жыл бұрын
"The way to get wages up is to drive unemployment down"... as if the numbers haven't been manipulated to the point of being useless at this point. Also, no questioning of the methodology used to calculate inflation, which grossly underestimates it.
@041101213 2 жыл бұрын
Free market tw*ts still using the logic of long dead ✨ trickle down ✨economics. Why would businesses raise wages above the legislated minimum? This is capitalism BABY. Profits rule everything around me. This mess is going to see the middle class shrink so significantly it is honestly terrifying. Where are they get tax revenue now???????? Certainly not corporations while LNP is still in town.
@041101213 2 жыл бұрын
@Zo 🌻 it doesn’t have to - we have sovereign currency, we can do what we like. It’s just that what we’d ‘like’ is for Scott Morrison to give tax dollars to his buddies. One of the most disgusting myths in Australian discourse is that liberals are good economic managers. One need only look to the to the OECD literature to work that out. We will never recover from Scott Morrison and it’s sick that the ABC reports on it as they do.
@matty665 2 жыл бұрын
Even if wages go up so does everything else.
@merpav 2 жыл бұрын
What about the aged pensioners who pay 50 percent or more of their pension just for rent.
@joebloggs830 2 жыл бұрын
Q: What did they do for their entire working lives? If they were paid a wage or salary, did they also get Super? If they were self-employed, were they responsible enough to pay their own Super? If you get to the end of the road where your body is now failing you, and have nothing to show for it, it isn't "the pension's" fault.
@lenam8228 2 жыл бұрын
When that nurse lady said she gets $1900 in hand after tax, is that per week or per month?
@halo8783 2 жыл бұрын
per fortnight
@damnyankeesdaughter5427 2 жыл бұрын
We have gone green when no one can afford to heat their home or drive anywhere, be careful what you fight for
@salemend6891 Жыл бұрын
Going green is to invest in alternative energy so you don't kill the environment *as much* and you can still have the basics.
@damnyankeesdaughter5427 Жыл бұрын
@@salemend6891 not being able to heat our homes or be able to afford to go to work is a major problem
@salemend6891 Жыл бұрын
@@damnyankeesdaughter5427 Duh tell me something new. Alternative energy, better investment in public transportation (At least for the U.S. idk about Australia) and zoning can alleviate that issue. But yet you wanted to make a dig at green energy. With the worst example lmao.
@damnyankeesdaughter5427 Жыл бұрын
@@salemend6891 instead of saying alternate energy which has no information lay out the plan so I understand because right now thousands will freeze and die this winter
@neb2612 2 жыл бұрын
Cut to the balloon operator who says "were going to start the inflation process"
@Spacemonkeymojo 2 жыл бұрын
Using hot air balloons in this video was so damn funny.
@carolynmorris7303 2 жыл бұрын
Every time I go to the the store the price goes up on the merchandise more and more.
@richardscathouse 2 жыл бұрын
I just shove more and more in my pockets
@binniesbags 2 жыл бұрын
Two words, "Great Reset"
@_celestial_8752 2 жыл бұрын
yep accurate I try to make $150 last for almost 2 weeks for me and my kiddo. Good thing i’m looking to lose weight anyway! Grow your own food if you have land people. Black or white all ancestors grew their own food before Big Business
@Nox_Bishop 2 жыл бұрын
And they want to provide a $400 stimulus??? Are they insane?
@robbb416 2 жыл бұрын
They are greedy
@robbb416 2 жыл бұрын
I don't have a family or kids and I received a total of 2 checks in the beginning of the year and haven't seen a penny since. Im disabled so you know the struggle is real
@MrNodgrass 2 жыл бұрын
Mr. Koler, how does dollar deflation fit into this? Are we actually seeing inflation, like demand outstripping supply, or are we just seeing currency deflation, aka loose lending standards to get asset out of a hole?
@kdegraa 2 жыл бұрын
Mr Kohler will not discuss the Reserve Bank of Australia’s role in causing inflation. It is not politically correct to question their policies.
@globetrotter6282 2 жыл бұрын
Do you mean dollar devaluation ? Inflation is essentially too much money supply in the economy. In other words too much printing of money and too much cheap money (low interest rates) over the last 10 years . The pandemic has accelerated inflation in that governments all over the world printed more money to prevent collapse of economy. As a result the dollar is losing its value as a result of inflation .
@kdegraa 2 жыл бұрын
@@globetrotter6282 the restrictions of the last two years have also caused inflation. Restricting the supply of goods, services and labour has interrupted supply chains and production, thus reducing supply and causing shortages. Everyone talks about silicon chip shortages. Shortages go a lot further than them.
@globetrotter6282 2 жыл бұрын
@@kdegraa Correct
@kellykreqeli8924 2 жыл бұрын
My son has adhd as well asd I've had to work and deal with it for the last 18 years as well as having health issues myself I've also had to take £1,200 pay cut a year because of the hours I was doing it was effecting my health
@kediyavru6338 2 жыл бұрын
"I would love to pass on wage increases to my employers because they deserve it!" Okay then just do it. So sick and tired of these stupid boomer business owners umming and aahing about our livelihoods. Yea newsflash, the generation you're refusing to pay fairly probably aren't going to be too spend happy.
@Duhause22 2 жыл бұрын
This is what happens in a consumerist economy. When we are taught nothing but to consume endlessly and to live a unaffordable lifestyle.
@ksmith2852 2 жыл бұрын
Why do you say that?
@MD-st4wi 2 жыл бұрын
Maybe it’s time to go back to basics : no fastfood or restaurant excepted once in a while. Baking and cooking from unprocessed bases… vegetables, fruits, cereales, flour and rice .
@PikachooUpYou 2 жыл бұрын
Using saving isn’t going backwards???? WTF?????
@cim888 2 жыл бұрын
I know.. why do we 1. Blame China for everything 2. Ask for more government handouts 3. Spend more overseas trips to Bali and Thailand 4. Scream at the top of our lungs "support Australian products" but then buy more affordable stuff from Ikea/Daiso which is all made in China 5. Get yet another streaming service 6. Get that shiny new 2k iPhone that's predominately made in China 7. Continue to demonise the Asian working holidays here that are apparently taking all the work from us diligent hard working locals 8. Follow America into another immoral middle eastern war to score cheaper petrol for the next generation 9. Still blame China for everything Cost of living solved.
@janegarnham 9 ай бұрын
Absolutely yes when did we become such whinger s. The only thing needed is for there to be a housing price correction. Doesn't have to crash but 30% Would do.
@JoshuaMcTackett 2 жыл бұрын
Thanks LNP. You've absolutely failed the country
@jordywatson7829 2 жыл бұрын
Both parties are to blame, look at Victoria and the huge amount of economic damage Dan Andrews created with his 9 months of lockdowns
@JoshuaMcTackett 2 жыл бұрын
@@jordywatson7829 hardly. This is almost all currently due to a skilled labour shortage and a complete reliance on petrol. Labor wanted to move us quickly to EVs at the last election. I'm not under the illusion things would have been simply rosy, but this federal government completely fails to act even on natural disasters.
@ozzybloke4830 2 жыл бұрын
It was the lnp that let covid into the country in the first place.
@Schizobateman 2 жыл бұрын
@@JoshuaMcTackett gtfo the migrants drive down wages, they are just a cheap source of labour for big business to exploit.
@Spacemonkeymojo 2 жыл бұрын
@@Schizobateman No surprise considering that the John Howard government was the one to increase immigration. LNP know how to exploit yellow and brown people good.
@Blackhart50 2 жыл бұрын
We go to the shop to buy expensive food and there's nothing on the shelf or fridges can't win
@turtledove6645 2 жыл бұрын
Well, I guess the government's gotta recoup the $ spent during the pandemic somehow. What better way then through fuel and foods. No mention of exuberant house costs, building materials and house rentals. Hmm..I wonder why people are in so much debt.
@Madeguydo 2 жыл бұрын
Privatisation helps the greedy only, it certainly gives everyone in the economy a good boost in the short term, but as we’ve seen more and more in the last few decades, the long term repercussions are increasing alienation of the underclass and the creation of an oligarchy which exports jobs and production facilities over to a country that doesn’t give a damn about human rights. We’ll all become Brazil. Wether you like it or not.
@coopsnz1 2 жыл бұрын
Wrong it helps middle class, High taxation doesn't help middle class you mean left socialist
@davidwright873 2 жыл бұрын
stop blaming the weather, the hole in your backyard, the pandemic, the Russians....Lets look at ourselves...OUR need to be in debt..OUR need to have...It's all coming back to haunt us....and it's no bull sheet!!
@harrow2355 2 жыл бұрын
Considering the 2 years of covid and individuals and families struggling with less and less savings this has come into a country were those who own the places were we shop and the duopolies that will take more advantage to rip us of more,why then is the GST even on our most important essentials,at least lower it in line with average spending,thanks US for your wrong turn that effected us all.
@_celestial_8752 2 жыл бұрын
I’m so glad i also can make my own clothes. It’s coming down to that point
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