Australia “should be the richest country in the world” but instead is facing the “mother of all cost-of-living crises”, according to a tech CEO who has delivered a blunt assessment of the government’s widespread economic policy failures.
Outspoken Freelancer chief executive Matt Barrie appeared on the Equity Mates podcast last week for a wide-ranging discussion covering the housing market, mass immigration, energy policy and cost-of-living.
“The country is f**ked,” Mr Barrie told host Bryce Leske.
“It’s not a functional society anymore. You need people to be able to afford to buy housing and shelter in order to have a functional society. In Sydney now the median house price is about $1.8 million, which is mathematically impossible for the average person to buy the average house.”
Mr Barrie said the cost of housing “cascades into everything”, including wages and grocery prices.
“We have blown the mother of all bubbles, which has led to the mother of all cost-of-living crises, which has led to huge problems in a deterioration of society, culture and values of this country, through running the mother of all mass immigration programs,” he said.
“And the politicians have a lot to answer for, because it’s not really working out for people coming into the country, either.”
Australia’s population has ballooned to 27.1 million people with 388,000 net overseas migrants entering in the first nine months of the 2023-24 financial year, according to figures from the Australian Bureau of Statistics (ABS) last month.
SlamTheBiscuit on
Wonder how many properties he owns
stvmq on
I’ll state for the record that I don’t agree with everything this guy says. But the headline is accurate.
Per capita, Australia should be the richest country in the world. We have everything that a country like Norway with an even higher GDP per capita has but even more so.
Key points from the article:
* If people can’t afford a house to live in then society stops functioning properly.
* Australia has the key resources needed by the world this century and we’ve sold them off for a fraction of what they’re truly worth. We also do next to nothing to value add to those resources (e.g. manufacturing).
* Australia is one of the most poorly economically diversified developed nations in the world. All we know to do is dig up stuff and inflate house prices.
* Politicians on both sides have used immigration as a Ponzi scheme to cover up that lack of economic diversification.
* I do disagree with the argument about renewables but that’s because he’s not a climate expert. But his points about our energy sector inefficiencies are accurate.
And if you think this is just that the failure of a single politician you’re wrong. This decades of incompetency and a deliberate plan to destroy the Australian working/middle class.
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From the article:
Australia “should be the richest country in the world” but instead is facing the “mother of all cost-of-living crises”, according to a tech CEO who has delivered a blunt assessment of the government’s widespread economic policy failures.
Outspoken Freelancer chief executive Matt Barrie appeared on the Equity Mates podcast last week for a wide-ranging discussion covering the housing market, mass immigration, energy policy and cost-of-living.
“The country is f**ked,” Mr Barrie told host Bryce Leske.
“It’s not a functional society anymore. You need people to be able to afford to buy housing and shelter in order to have a functional society. In Sydney now the median house price is about $1.8 million, which is mathematically impossible for the average person to buy the average house.”
Mr Barrie said the cost of housing “cascades into everything”, including wages and grocery prices.
“We have blown the mother of all bubbles, which has led to the mother of all cost-of-living crises, which has led to huge problems in a deterioration of society, culture and values of this country, through running the mother of all mass immigration programs,” he said.
“And the politicians have a lot to answer for, because it’s not really working out for people coming into the country, either.”
Australia’s population has ballooned to 27.1 million people with 388,000 net overseas migrants entering in the first nine months of the 2023-24 financial year, according to figures from the Australian Bureau of Statistics (ABS) last month.
Wonder how many properties he owns
I’ll state for the record that I don’t agree with everything this guy says. But the headline is accurate.
Per capita, Australia should be the richest country in the world. We have everything that a country like Norway with an even higher GDP per capita has but even more so.
Key points from the article:
* If people can’t afford a house to live in then society stops functioning properly.
* Australia has the key resources needed by the world this century and we’ve sold them off for a fraction of what they’re truly worth. We also do next to nothing to value add to those resources (e.g. manufacturing).
* Australia is one of the most poorly economically diversified developed nations in the world. All we know to do is dig up stuff and inflate house prices.
* Politicians on both sides have used immigration as a Ponzi scheme to cover up that lack of economic diversification.
* I do disagree with the argument about renewables but that’s because he’s not a climate expert. But his points about our energy sector inefficiencies are accurate.
And if you think this is just that the failure of a single politician you’re wrong. This decades of incompetency and a deliberate plan to destroy the Australian working/middle class.