Inflation

[SirRumpole]

1 carpenter will use 1 house, but over his career he can build many houses, same with all the other trades, they produce much more than they consume.

So they bring their families from abroad to live in the houses they build, so it's no net benefit to us.

 

[sptrawler]

We actually have plenty of room, we just have to figure out a way to get the population to spread out a bit more.

I think most if the problems you are talking about come from growth that happens to fast, slow population growth is ideal.

So they bring their families from abroad to live in the houses they build, so it's no net benefit to us.

As you both point out population growth for population growth sake is counterproductive, unless there are new jobs and industries developed to make the increase in population equate to an increase in output.
If you are just adding numbers with no increase in gross domestic product, you are just make the same amount of money go around more people, which just makes everyone poorer.
As VC says slow growth rate isn't a problem if you spread it out, build industries and processes where the work is, rather than concentrating the population between Melbourne and Sydney, where the only work is people servicing each other.
This economy only circulates the money it doesn't add to the money, which in turn forces property and cost of living prices up and the affordability down.
Getting politicians, whose main focus appears to be personal gain, to stop the ponzi is the really hard part IMO.
There is no incentive for politicians to change anything, they are doing great.

 

[Value Collector]

So they bring their families from abroad to live in the houses they build, so it's no net benefit to us.

That’s a pretty far fetched argument.

 

[qldfrog]

As you both point out population growth for population growth sake is counterproductive, unless there are new jobs and industries developed to make the increase in population equate to an increase in output.
If you are just adding numbers with no increase in gross domestic product, you are just make the same amount of money go around more people, which just makes everyone poorer.
As VC says slow growth rate isn't a problem if you spread it out, build industries and processes where the work is, rather than concentrating the population between Melbourne and Sydney, where the only work is people servicing each other.
This economy only circulates the money it doesn't add to the money, which in turn forces property and cost of living prices up and the affordability down.
Getting politicians, whose main focus appears to be personal gain, to stop the ponzi is the really hard part IMO.
There is no incentive for politicians to change anything, they are doing great.

As long as the whole political system is based on a duopoly, and this is even increasingly so here with senate changes, you can not expect any fundamental shift, same same just more and more parasites on the system, more corruption and more taxes on the working dumwits..sorry working and middle classes...
And remember that inflation is good for the government coffers and so the whole system..
Inflation wise, I have the feeling prices are cooling down a bit in menus etc..not everywhere..but better mid week deals etc

 

[sptrawler]

As long as the whole political system is based on a duopoly, and this is even increasingly so here with senate changes, you can not expect any fundamental shift, same same just more and more parasites on the system, more corruption and more taxes on the working dumwits..sorry working and middle classes...
And remember that inflation is good for the government coffers and so the whole system..
Inflation wise, I have the feeling prices are cooling down a bit in menus etc..not everywhere..but better mid week deals etc

The big issue IMO is, the ongoing splash of free cash which is keeping the economy buoyant and inflation ticking up, it has to manifest itself somehow.
The constant pay rises and welfare payment increases, gives everyone more buying power, but we haven't yet seen a reduction in the value of the $Aus.
I would expect to see that come into play, sooner or later, as our international competitiveness reduces .
Nickel is being hit ATM, the way that is going I can see that sector falling right off the cliff.
Iron ore seems to be the only thing keeping our heads above water.
I wonder if Argentina devaluing their currency by a huge amount will affect our exports
Should be an interesting 12 months IMO, exciting times ahead I think.

 

[mullokintyre]

Yeah, you seemed to think that you could get insights into population growth by looking at that chart, which obviously you can’t.

Just coz your limited thinking ability does not allow you to get insights does not mean others may be able to do so.
mick

 

[Value Collector]

Just coz your limited thinking ability does not allow you to get insights does not mean others may be able to do so.
mick

Go back and read what you said in that original post, then take a moment to understand what the chart is saying and you should be able to see what I mean. You would need a microscope to see the net migration, as I said the bulk of that chart is just tourists, seasonal workers, business travellers and students coming and going.

For example, I left the country 3 times in 2023 so I show up on that chart 6 times (3 departures and with 3 later arrivals)

So when you said this

Generally, the two data sets largely follow each other, with the arrivals spikes generally lagging the departure spikes.

All you are noticing is that when Australian holiday makers leave on holiday departures rise and when they arrive back a few weeks later arrivals spike. that says nothing about what the migration is you are just noticing popular holiday periods


Just look at this link if you want to see the migration data.

https://www.abs.gov.au/statistics/people/population/overseas-migration/latest-release

 

[investtrader]

Just got my Insurance premium for my house and contents. Increase of 40% to 11k+.. bloody hell. I am near a major capital, no possible flooding or bushfire risk, no claims history and extremely low crime.

 

[divs4ever]

Just got my Insurance premium for my house and contents. Increase of 40% to 11k+.. bloody hell. I am near a major capital, no possible flooding or bushfire risk, no claims history and extremely low crime.

don't worry , the crime will come

they have learned to steal car/trucks and evade police for up to a week

straight out of the ALP policy playbook ( just get your ducks lined up ready for a claim )

( i remember one farmer who micro-engraved his ABN on all his equipment and even when the police recovered most of the stolen goods he still needed to employ a lawyer to get a fair settlement )

 

[qldfrog]

Just got my Insurance premium for my house and contents. Increase of 40% to 11k+.. bloody hell. I am near a major capital, no possible flooding or bushfire risk, no claims history and extremely low crime.

Mine went from $5k to $7.5k.
Shop around, we saved nearly $2k

 

[Value Collector]

Just got my Insurance premium for my house and contents. Increase of 40% to 11k+.. bloody hell. I am near a major capital, no possible flooding or bushfire risk, no claims history and extremely low crime.

Shop around, I just re-did my insurance with another company and got a $600 reduction.

Key things to look at.

1, Make sure the insured value isn't to high they might be selling you insurance based on rebuilding a $500K house when it might only take $300K to rebuild

2, Same with contents, make sure you aren't over insured.

3, See if raising your excess gives you a good saving, eg increasing your excess from $1000 to $5000 can save you $100's of dollars, so accepting that little bit of extra risk is well worth it.

 

[Value Collector]

Mine went from $5k to $7.5k.
Shop around, we saved nearly $2k

sounds like you guys are being raped, I just got my building only insurance for $960 down $600. check what I said in the comment above.

 

[Smurf1976]

Increase of 40% to 11k+.

Without wanting to pry into your personal finances, I assume this is for a seriously expensive property?

It's worth many $ millions?

If that's for a generic volume built suburban house then heaven help us all.....

 

[investtrader]

@Value Collector Yep, time to to shop around. I have been with the same company for 20 years (plus a big Policy for business). Might increase the excess also.

@Smurf1976 It's worth a few bucks and definitely not your average house in the burbs . I had a quantity surveyor check a few years ago just to make sure I had the Insurance right. Being under insured is a big risk (co-insurance clause).

I have seen some big Insurance increases in the past but 40% is ridiculous. Hopefully there will some better deals elsewhere. But I have also been caught up where they just want to reduce the risk in their book for particularly types of insurance - maybe the luxury house market is an area they have been stung. Who knows. The rep is not being forth coming with info.

Time to buy QBE?

 

[Belli]

Yes, it is certainly getting nasty. I understand a number of re-insurers are or have reassessed their risk profiles and have increased prices as a consequence. The number of catastrophic events due to climate/weather issues has cost heaps apparently.

Don't be in a $2m pad on the banks of the Hawkesbury with native forest on the other three sides or you could be on you're on own.

Still, a 40% increase is ridiculous on the face of it.

 

[mullokintyre]

On the subject of Inflation, I walked into a South Gippsland coffee shop and was charged 9.40 for a takeaway black coffee.
And today was not even a public holiday.
mick

 

[Knobby22]

On the subject of Inflation, I walked into a South Gippsland coffee shop and was charged 9.40 for a takeaway black coffee.
And today was not even a public holiday.
mick

I paid $10.50 for 3 lattes in Pascoe Vale South today (cyclists). (Not trendy place but good coffees). Time to walk out on them!

 

[Belli]

On the subject of Inflation, I walked into a South Gippsland coffee shop and was charged 9.40 for a takeaway black coffee.
And today was not even a public holiday.
mick

Dastards. The end of civilisation as we'd like to know it. Add on power costs, staff, etc and we're doomed I tell you.

 

[IFocus]

On the subject of Inflation, I walked into a South Gippsland coffee shop and was charged 9.40 for a takeaway black coffee.
And today was not even a public holiday.
mick

What... for a cup or bucket , $4.50 is my limit not many places left at that price

 

[qldfrog]

On the subject of Inflation, I walked into a South Gippsland coffee shop and was charged 9.40 for a takeaway black coffee.
And today was not even a public holiday.
mick

5 to 6 dollars for a mug is the ongoing price here.are you sure you were not charged for 2?