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wiskers

1,180 Posts.

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27/04/24

11:37

Post #: 73535925
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Originally posted by nippy: ↑

You can't trickle to a million bucks from $0.00 with a car loan and 100g credit card debt and 60g student loan to pay for.

it is not a year or two fix.

Just like Australia these problems take years to develop a few % a year at a time compounded. It is the tax advantages per year of a few % that eventually result in the low paid ( ripped off a few % a year at the same time as to cost of living ) not being able to pay the rent and becoming homeless. It is a simple matter of mathematics given sufficient time to play out.

Of course, a democratic system where the rich can lobby for the tax advantages to continue or grow larger via donations to campaign funds does not help matters.

We now have demand being destroyed due a concentration of wealth to too small a % of the community just like what happened in the 1929 era, and you know what happened then... We already have the mass layoffs occurring across many industries, so the signs are on full display already for those that know what to look for: if the growing tent cities were not enough for you in the first place.

Don't try and tell me the unemployment rate is good as it is an illusion of permanent jobs being replaced by part time jobs and those will never qualify for a home loan.

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Unireversewanker would rather do his on personal research than hear anything the ABS said

Yes we are at the infraction point in the economy give or take a few % either side of the point.
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