Comments by "Winston Smith" (@kryts27) on "How Australia's Economy Got Rich and Is Getting Dumber | Economy of Australia | Econ" video.

  1. The economy of the UK is a mess and getting worse and worse. Clearly Brixit was a serious mistake. However, in Australia things are rosier, but not by much in comparison. The Australian housing bubble (worst in Sydney) drives up rent as well as housing prices, but like a hot-air ballon, but what comes up must go down. Initially the setback is in local governments (such as in Sydney) whom do collect more from high value ratepayers, but must pay local government employees more to offset their high accomodation costs of living in Sydney (or they leave), so no benefit overall. Those who invested in housing during the "peak" find out not much later as that their house prices falls, and falls and falls as investment cools due to a long recession high unemployment, falling migration and general economic malaise. It's not like Australia hasn't been there before (in the 1930s). Welcome to the 21st century great depression.
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