I reckon there is going to be a large gravitation to people renting property rather than buying as we see in other countries, particularly in the cities.
Low interest rates don't encourage spending any more...jobs and opportunity encourage spending. But while we are putting more and more people out of work replacing them with robots and computers we are facing a huge problem.
We have become buyers of imported junk, quality is not a word we'd use much these days.
I was seriously in favour of the car manufacturers here having the massive tax payer funding withdrawn, I was concerned about the number of jobs that would go though...but in hind site I think it should have been approached differently.
It was disappointing that the trade unions had taken total control of the work force, the rates of pay and the conditions imposed on the employers was fanciful and ridiculous. and I there fore blame them and the Labor Party for the demise of thousands of Aussie jobs directly and indirectly. ( it all began under Labor Senator John Button)
There are way too many Ponzi schemes in operation, where new cash has to be bought in for the success and growth of what ever it might be. Greed and profit have become king...there is no way the big four Banks should be pulling billions of dollars out of our economy every year in profits for one thing.
I don't think anything is going to change...I just feel for the new generations coming through who will have no chance...
