/biz/ - Business & Finance

>>50544514
1. Housing tax policy favouring owners
2. Ultra loose monetary policy
3. Immigration destroying wage growth

Simple as

>>50544607
I agree with the first two, but the third is just absurd propaganda by the australian goverment, conservatives and /pol/. Look at the statistics.

>>50544643
Nope. Fact is employment is at an all time high and wages are going up because we stopped immigration the last few years because of covid.

Gooks bought up all the boomer shitshacks for squillions of dollaridoos so that they could have some reliable overseas assets (at least, more reliable than anything in chinkshitland).

>>50544679
No, no and no. While yes, immigration did slow, this idea of less immigration and higher wages is just false.

Correlation =/= causation. You should already know this.

>muh immigrants!!!
If you can't get a job instead of an immigrant you are just shit. Without immigration we'd still be eating British slop for every meal.

>>50544726
>muh food

with immigration we get bugs, simple as

>>50544716
Go back

>>50544726
Asian immigrants, bug like as they are, may yet provide great sustanance to the white Australian population.

>>50544765
Literally what bugs have you eaten? Fucking pol conspiracy retards I stg

This thread makes me wonder, do we have asio shill farms?

>>50544514
Liberal government

>>50544514
>be white country
>allow mass immigration of non-whites
>country turns to shit overnight
>well I wonder what it could be
>at least we have all this great food

>>50544514
Boomers acting in their own self interest and draining so much money and opportunity from the younger generation that they withered on the vine.

>>50544514
Can someone please explain to me how in the world did Australia get dominated and infiltrated by chinks? Immigration is one thing and total control over a country’s internal interests by its own citizens is another

>>50544514
gold

>>50545117
You can buy an Aussie politician for a ridiculous amount. Like $200k. Basically free.

>>50544514
The main one imo... Negative gearing and CGT discount for property investments. If we had these with the original intent of increasing investment in Australian research/industry/business as it was originally marketed, things would be different. Instead, investing in a safe and steady property with tax-benefit loans/upkeep and low capital gains tax became the obviously more attractive buy-and-hold long term investment than the share market for most people.
Without these benefits property investors would be paying 15-45% more on the loans and upkeep (as these would now be an after tax expense instead of before tax expense). Although possibly creating an investment company would get around this, most "mom and pop"/"boomer" investors would be affected. AND investors would have to pay 50% more tax on any gains...
If the bonuses were for shares only, the economy might be that much better. Imagine, investment loans for shares with the interest a tax deductible, and a CGT discount if you hold at least a year. Would have pumped all of that current property market money into actual businesses and creating something instead.
The country had real potential: good climate in many areas and range of climates for farming, lots of natural resources, lots of land space, majority European descent, strong work ethic. Could have been ideal to set up a research, technology, and even specialised manufacturing economy. The one thing we do ok is selling overpriced education to foreigners. I wouldn't even say immigration is too open or easy, it costs 10k just for citizenship.
Instead the economy is now based around buying, building, and selling houses to each-other. And because the government supports and props this up at all costs, it is an attractive investment for Chinese investors, which of course the government again in turn supports because it pumps more money into the housing economy. At the cost of young citizens who are better off moving elsewhere.

>>50544643
It's not you motherfucking cretin. Western corporations and their politician lackeys have been moving manufacturing overseas, and importing 3rd and 2nd world economic migrants as scab labour to maintain stagnant wages, and replace locals who aren't breeding due to said stagnant wages. They then gaslight by calling anyone who displays misgivings with this very real action a racist conspiracy theorist.

>>50544514
kangaroos are gay.
https://www.youtube.com/watch?v=lXrisFu8iP4

It all started long before the 10 years ago. We've been administrated by a foreign crown under usufruct for near 100 years.

https://rumble.com/v1cp6en-history-review-of-the-federated-commonwealth-of-australia.html

>>50545117
All this talk about Australia being a democratic western country is total BS, this place has always been a gathering ground of the dregs of society beginning from the first convicts that landed here and everyone afterwards just came to chase money no wonder there is no sense of nationality or community here and everything and everyone can be bought out.

Next time some bear threatens otherwise, you call me. I will tell u who the bear is, where to fine, and i will also tell you who he is and how he's wrong. cheerio

>>50544514
Anyone who has been there knows exactly why. The corporations couldn’t move operations overseas so they decided to just import them all over here. Either Canada or Australia will be the first to fall. Mark my words.

Australia was set up as a convict settlement and it shows. Turn on the TV and you just have a bunch of sooky fucking boomers pissed off that someone somewhere might be having fun. The idea that someone might be having a good time is horrifying to the average australian.

>>50544716
It's fucking basic supply and demand spastic.

>>50545604
Tons of community outside the major cities. Rich city faggots can't understand.

>>50545644
>The idea that someone might be having a good time is horrifying to the average australian.
Well yeah, nightlife and legalised dope would negatively impact the housing ponzi scheme. We're basically a nation of nimby nanny state regulation so that nothing impacts the gargantuan speculative housing bubble, pic fucking related. I cannot wait to leave and anyone I've talked to with a brain and a human soul is the same.

>>50544643
>by the australian goverment,
Yeah the government is spreading propaganda about the endless hordes of shitskins and chink invaders they choose to import.

>>50544514
>>50544607
>>50544643
>>50544679
>>50544686
>>50544716
>>50544726
>>50544765
>>50544791
>>50544794
>>50544798
>>50544853
>>50544856
>>50544979
>>50545100
>>50545117
>>50545260
>>50545338
>>50545349
>>50545536
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>>50545572
>>50545604
>>50545612
>>50545622
>>50545644
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>>50545675
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>>50545830

>>50544726
back to plebbit with you.

>>50546023
>Get in early
Early was 30-50 years ago

>immigrants
>importing
>centrelink
>uni students

>>50546023
Another cool thing Australians do is troll or otherwise argue insincerely in bad faith because they're so insecure they can't shift from this "she'll be roight" anti-intellectual attitude. Hence why this nigger is posting this shit while housing prices have already started dropping after a miniscule interest rate rise.

>>50546023
kek this is true

>>50546424
>anti-intellectual attitude
>Hence why

nice

>>50544726
White people are completely and utterly unable to follow a recipe, you heard it here first.

Kek blaming immigrants. If you can't afford a house but Pajeet who works at the local Indian restaurant who is paid minimum wage can, it is your fault.

>>50546439
>Attacking grammar instead of the argument
Thankyou for proving my point.

Nothing went wrong really, the only issue is that houses in the cities are too expensive. But that is because of allowing people to use them as investments, so you have superannuation funds buying them all up, retirees buying them all up, foreigners buying them all up. The family home is out of reach for actual families, more people with more money are simply gobbling them all up.

>>50546533
Pajeet can't afford it either, he just takes out a huge loan and goes into debt for life like banks expected the local millenials and zoomers to do except a bunch of us gave up instead and disappeared from the market.

>>50546023
this didnt age too well kek

>>50546275
wrong

>>50544514
You may have heard it said before but we're a first world nation with a 3rd world economy.
We dig rock out of the ground, we don't process it or manufacture anything with it. We mine and ship it.
We farm beef and grain and ship it.
Housing, housing related finance and development all together makes up something like 30% of our total economy.
As a result Australia is the single most indebted country per capita for just about any developed nation. We have the highest debt-to-gdp ratio of any country. Highest debt-to-income ratio and highest debt-to-asset ratio. If we're not first in these categories we're always second.

In order to keep that housing ponzi scheme going with such a massively indebted populous we import more and more migrants who act as empty debt vessels. Our immigration policy has nothing to do with filling jobs or suppressing wages, it's about filling home loans. Newly imported 3rd world goys who came from over-populated shitholes and think living in these new sardine can developments is a dream and gladly take on massively loans for poorly built, off-the-plan cookie cutter homes.

Banks also do shit here like count "unrealised capital gains" towards borrowing power. So if the bank thinks the property you want to buy will increase 10% over the next year or two, they count that equity you already have to use towards a new loan. Thats how you get stories like
>"how 28 year old train driver became multi-millionaire property investor"
Yeah, cause the portfolio is a massive house of cards assuming infinite growth with now slowdown.

>>50546929
Further to this
Here's a personal anecdote from a friend that got fucked just recently in the eastern states
>young guy, sole provider for a family of 5
>been renting whole adult life in grossly over-priced eastern states
>contractor for some IT services but makes reasonably good $'s
>signs up for a new build. House and land. Very excited, very keen to finally have his own place for the family
>gets a chunk of cash from folks to pump up the deposit and help get finance over the line
>gets pre-approved finance from bank, signs the contract. All up its worth about $950k
Sounds ok right, despite the extremely high price which is the first red-flag. Well, this is how they fuck you in Australia
>mortgage broker is a clown-tier bitch
>tells them the contract is all standard, nothing to see here.
>turns out the finance got over the line because the bank re-valued the land and decided it was worth 200k more than sell price
>effectively they treated it as 200k equity before sale even finalised
>in the time between signing and handover interest rates jump a few %
>same time bank decided no, the land isn't worth the extra 200k actually
>no, you cant afford the loan now
>rug-pulls the deal at the absolute last minute
>"oh what's that, no sorry we don't do subject to finance over here. You breached contract"
>takes the 50k+ deposit. gg no refunds better luck next time
In other states you would put down an offer with a very small deposit and "subject to finance". If you don't get finance, you don't lose anything. Not even the small signing deposit. If you DO get finance but bail out, you only lose the few thousand from the signing deposit. NOT the full loan deposit.

Personally I think its a blessing in disguise. The loan was going to fuck him forever and it blows my mind they were ever going to lend him that much money.
Yes they lost the deposit, but they were going to lose MILLIONS more over the years after.

>>50545709
and where the fuck are you gonna go you faggot. where is the grass greener? please elaborate this magical plan

>>50546424
they are only down 2.5% at the moment lmao

>>50544514
What went right? This place is a shithole

>>50544716
you have to go back to primary school

>>50545117
sold out for pennies
we have one of the most corrupt governments in the whole world, they just do it with such a nice face on that the halfwit populace doesnt believe it

>>50544679
>employment is at an all time high
The metric is if you work an hour a week you are employed. They just changed the numbers

>>50544607
>country based on immigration
>immigration ruining country

Shiggydiggy my fellow memerinos

Aus bros...
What's the easiest FIFO job? I'm currently doing 2:1 for 115k but I want a better swing job

>>50548375
Just work on your week off lazy cunt

>>50548391
You dumb bitch. I want to work LESS which is why I want a better swing

bump for more insightful answers

Migrant here and I’m sick to death of being bullied for not wanting to live in a shithole

>>50548422
>I want to work less
>I want to work
Good goyim, earn your shekels.

>>50548474
im sick to death of hearing this shit. if the worst of your troubles is having to acclimatize to the harsh australian bantz then maybe you should think twice about settling down here, and maybe think twice about whether its really that bad. we certainly didnt ask you to come here and youre certainly not wanted so just shut the fuck up. i have watched my country be dissolved into an unrecognizable husk of hollow corporate pandering and meaningless cultural platitudes trying to appeal to everyone and impressing no one while countless special interest groups pick at the bones before china buys us up for good and its all been entirely for the benefit of people like you and all you do is fucking complain about how mean australians are and how we should accept more and more of this bullshit. maybe you could stop and have a ponder about what might be making us so hostile in the first place and i guarantee you its not just the tinnies and the meth you cUNT

>>50544514
The entire nation was sold out from under us in the last 40 years. Read this if want to see how bad Australia is at doing deals - it's beyond pathetic.

https://www.baka.com.au/national/into-thin-air-why-is-australia-facing-a-gas-crisis-20220721-p5b3gi.html

The liberal government and greens being ideological retards

NBN was badly managed by liberal government, costs too much for shit result.
We are blessed with gas and coal and both greens and liberals combined to fuck up energy policy and create 0 certainty for future investment. Lack of domestic supply of eastern gas due to fear of offending foreign gas giants who sell to highest bidder and lock in long contracts. Labour government in WA only state to get it right

All that matters is productivity growth if we can get that right by reducing housing as a % of the economy and continue innovation in our other major sectors including financial services, education (don't see it happening personally) and get on the new energy boom incoming I see us to continue being the lucky country we are

>>50548339
>country based on immigration
lol no, unlike canada / usa, the 'immigrant' of australia consists of very specific kinds of people: white, english.

australia isn't based on immigration (which requires a multicultural society), it is based on plundering by british people.

>>50548474
are you for real, you ungrateful bitch? the people in this country have witnessed first hand their nation be dissolved into an unrecognisable husk of worthless corporate pandering and spineless multicultural platitudes while countless special interest groups circle the wagons and pick at the bones before were all finally sold off to china one day soon. its all been exclusively for the benefit of people like you and those who are exploiting your delusions of what this place is while the rest of us get completely fucking shafted in every single way and then get blamed for everything that goes wrong like we arent doing enough to accommodate. if you cant handle the harsh aussie bantz then all i can say is think twice about settling down here and maybe have a think about what might be making us so angry because i guarantee you it aint just the tinnies and the meth you fucking CUNT

>>50548339
>>country based on immigration
lol no, unlike canada/the usa, the 'immigration' of australia consists of a singular, very specific kinds of people: white & british

australia isn't based on immigration, it's based on plundering by british people

Hey lads how do you stop the ATO stealing from you...........in minecraft?

>>50545349

this is pretty much the answer.

The government said. Fuck innovation we got coal.
Fuck risk we got houses and land.

there were no opportunities to branch out and now the younger generation will pay, and the older generation have a looming rug pull on their hands

>>50548474
Why did you come here then?

>>50544514
Australia did not nationalise their commodities resources and set up a sovereign wealth fund based on the mining boom profits. Both sides of governments truly fucked the country and did not have the foresight to capture the wealth for the country. The dividends from such a sovereign wealth fund would have provided many of the nation's need without burdening citizens with too much taxation.

>>50546966
i would literally kick in the door of the bank and broker and kill people over this what the fuck. fuck i hate this piece of shit country so fucking much

>>50549268
>dictate to map the coastline of the east
>send shitcunts there so they aren't on the isle of bong
>people decide to immigrate there because bongland is full of immigrants

Nice try cockfag.

>>50546966
Should have just put subject to finance as a condition in your contract, not hard to do, just get a competent conveyancer/solicitor when purchasing desu

>>50544514
Melbourne used to be called Batmania. The worst decision in Australian history.

>>50549426
>>50549407
>>50549355
>>50549617
>>50549588
>>50549561
As a American Australians have the funniest sounding accents on earth and I’m reading this in my head and I can’t stop laughing

>>50546966
Imagine thinking this is real, you could literally defend a murder case on this kind of story.

>didn't happen because wtf is eastern states

Larping cunt

>>50544514
Shutting down industry and manufacturing, the country has turned into a service economy.

The public service employs more than anyone now.

Immigration policy, an influx of third world immigrants means you end up with a third world country.

>>50549588
Not my contract, in my state subject to finance is very common and I used to for my own purchase. For some reason in the eastern states it's not used. I dont know why.

The bigger issue here is the willingness of both financial institutions and brokers to sign up these massively over-leveraged mortgages based on fucky accounting to keep the bubble inflated
>sure you can have another loan despite earning only 80k/yr and already have 6 investment properties with razor thin equity
>we predict property prices can only go up forever and so have already calculated future equity you don't even have yet and you can use that as a deposit
>whats that? what happens if property prices level out?
>or even...f-fall?
>that's not even possible.... is it?
Or in the case of the previous story
>sure you can borrow 900k despite only having a single income and 5% deposit
>we value your land 200k higher than your purchase price, that will cover the deposit
>just sign the contract and had over your 50k
>whoops wait, bank changed its mind. The land isnt worth more and has now denied finance. You'll need more cash
>wait you dont have it? Well contract void, thanks for the 50k cunts

>>50546966
>Signs a million dollar contract after getting legal advice from a fucking mortgage broker
I don't feel bad for them

>>50549672
It is. The sort of shit you see in Sydney and Canberra. Happened only a couple weeks ago not long after the second rate rise which prompted the finance then being refused after having previously being approved.

she'll be right mate

>>50549752
Again, it's Sydney and Canberra where the median house price is 1.26 million and 980k.
So signing a "million dollar contract" is literally just signing a contract for an average house price.

Hear me out: to save the Murray-Darling basin, we should have each person who wants to draw from it sign up to a distributed ledger system that tracks how much water they draw, and incentivizes others within the system to punish anybody drawing more water than they're supposed to.

Thoughts?

>>50549426
Does this work?
Can countries just buy up massive amounts of dividend stocks and rake in free money?
What's the upper limit on this?

>>50549783
Doesn't make it any less retarded

>>50544514
Boomer neoliberalism mixed with globalism, recently faggot rich greenie politics and an abusive mass immigration policy to keep boomer asset holder, rent seekers and house prices sky high.

People here aren't breeding as wages haven't kept up with inflation so they import people from the third world but will call you a racist for pointing it out.

Faggots in politics are openly attacking the flag and Australia day and call it progressive rather than regressive and nobody in politics shuts that shit down, so tentively support it.

Australia is better with closed borders and we just export shit for profit.

We are quickly losing everything that makes us unique as our cities are filled with foreigners and our regions are forgotten politically for some teal fuckwits in the cities.

Libs

>>50544514
A criminally negligent and treasonous $830m submarine mistake.

I still can't figure out how no one's been held accountable and sent to jail for wasting so much tax payer money.

>>50544716
You are part of the first group that should be destroyed.

>>50549426
Agreed. This is Australia's great failure. The fundamental cause is political weakness, and the fact that Daddy Burger wouldn't let us do it even if we wanted to.

>>50549875
Australia/Canada/NZ - Over, Has no purpose or Future, vestiges of an erstwhile empire, No one cares, Nothing matters, everything is up for sale, economy fake, politics fake, "Country" simply getting dragged on by nostalgic boomers.

At best Australia ends up being a Chinese outpost like Singapore in next few decades.

>>50544514
We do nothing and if we actually do something it's instantly sold to some private US company

Bought a house before the housing boom, not my problem, stay renting, latefags.

Israel Central Bank (~1960-2022) is hoarding AUD. No central bank will survive the Finacial Apocalpse though as they started it.

>>50549426
Retard our resources WERE nationalised, then we de-nationlised them for fat profits

>>50544514
>Liberal Party doomed the country to shit tier internet infrastructure
>Universities lowered their standards to cash in on international students
>Brain drain due to decline in research funding
>Performing arts industry killed off by successive governments
>Negative gearing
>Mates club mentality resulted in lack of competition and a corporate landscape infested with badly run companies
>Media laws that enabled Murdoch to own everything
>Over-governed with too many public service jobs that contribute nothing
>Perpetual asset bubbles resulted in a population who worship the twin towers of real estate and superannuation

>At the 2021 census, there were 2,260,410 people living in Sydney that were born overseas, accounting for 43.2% of the population Sydney, above Vancouver (42.5%), Los Angeles (37.7%), New York City (37.5%), Chicago (20.7%%), Paris (14.6%) and Berlin (13%). Only 31.0% of the population had both parents born in Australia.

wtf is this shit
fucken sydney poofs

>>50550449
it's a miserable cultureless shithole. You can't find a single place where there is an actual community enjoying life and each other's company, just constantly harried consumer wagie retards working themselves to death to afford their $450/week rent.

The real question is why are you sitting in front of a computer screen complaining instead of doing something to fix it? Create your own businesses and communities, have sex and start a family. Sitting around and doing nothing about it makes you as good as the abos that came before you.

>>50545709
Kek just fuck off and go alrdy. Losers like U need not stay and shit the place up further

>>50546596
Kek you fuck off too. People haven't been buying property without loans since at least 50 years ago you str8 up dumb cunt. Crying about ppl getting mortgages to buy a house is the biggest cope. You're probably just too undesirable in both career and personal aspects kek

i could never live in australia the accent is so retarded it makes me aggressive when I have to listen to it

>>50550651
Overleveraged mortgages are the problem you petrol sniffer
2% downpayment on a 500k loan is beyond fucked.

>>50550357
Yep and that's why we sell our natural gas to China for $1 per gj and buy it back off them for $44 gj. Fuck this cuntry is useless..
On another note was getting paid $500 a day diamond drilling and now got new offer for $900 day plus guaranteed $200 a day bonus. $7700 a week for pulling levers kek

>>50550631
Why are you typing like you're on a fucking Nokia you worthless deadshit cunt?

Sent from my iPhone 13.

>>50544716
Immigration increases the competition for jobs and thus suppresses wages. This is basic economics

>>50544726
how the fuck is it possible that these propaganda bots are watching every thread on every wesbite just to post shit like this

>>50546929
>how 28 year old train driver became multi-millionaire property investor
I drive trains. I honestly don't see why people shit on it so much, it's not a bad job. Sure it's not a $200k/year software engineering job, but it's decent coin for the little work you actually have to do.

>>50549345
get diagnosed with disability, then you can put all your assets into a super pension stream like all the boomer cunts and pay no tax

>>50549807
the problem is water is managed by state governments so queensland just takes all the water. the last station north of the border is Cubby station and it's owned by the chinese government who take all the water to make $3 cotton tshirts

This fucker and his ilk

>>50544514
aboriginals keep wasting all the money by trashing $90K vehicles in the bush and having a new one dropped off the same afternoon

>>50550449
is white males, asian female pairing popular in sydney? any australian bros creampie-ing the asian pussies?

>>50551364
Am white with a flip gf.

(Though truthfully I only have an Asian misso because I'm not good looking enough/don't earn enough to nab a white girl.)

jannies deleted it make sure to save it for the next thread

Retard dumbfucks blaming immigrants while their boomer ancestors made education and housing unaffordable . Some dude comes by boat and steal your jobs coz yr too lazy to skill up and then sit around suffering from anxiety and depreshion. Sought yr shit out and stop blaming the 7 11, uber drivers and fast food workers u lazy fucks.

>>50551116

Which fuckwit decided selling infrastructure to the chinese was a good idea

>>50551364
Absolutely. Soon there will be a substantial Finnish enclave within Sydney.

>>50544643
>conservatives hate immigration
Lefty disinformation. Conservatives and their big corpo overlords love mass-immigrantion specifically because it helps keep wage growth low. Simple economics.

>>50544643
>>50544716
cope + on damage control