Guess John the point to be made is that history has shown that immigration has been the reason for Australia's growth in the past 70 years. The need for greater demand is essential and it is also a way of slowing down the "aging" of the population. Without that renewal we would end up with less than half the people employed and having to support the other half. The erosion of living standards would be tremendous under those conditions. Immigration in itself will not reduce unemployment rate but it will stop it from rising. The economic benefits of immigration have been proven in many places historically. It is a fallacy that immigrants take away jobs - in fact, they create opportunities for increases in jobs available.
Your point about "sustainable" growth is very valid though. Does Australia have the resources such as water for example to allow for a larger population? You maybe are on the right track there and I am not sure I know what the answer to that is. At some stage, Australia will need to find a solution to that issue.
NAB's SP - and indeed, Australia's GNP, have both risen over the decades that immigration has happened. Yes, both are down because of the COVID-19 crisis but that is not a side effect of immigration you would have to admit.
In any case, NAB's SP has stabilised and in 18 months time it should be back to familiar territory - around the $25-30 mark in my humble opinion.
Good to communicate with you again John.
NAB Price at posting:
$18.69 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)