Australia Is In For A Wild Ride
We haven't invested in innovation, we haven't addressed manufacturing locally.
Martin North takes a deep dive into all the topics you care about most! for Financial Future and Economic Intel.
- The Federal Reserve
- Australian housing bubble
- Cash ban
- And much more.
Martin North and his wide range of Financial Analyst experience.
Migration really has been the cornerstone growth in Australia.
We haven't invested in innovation, we haven't addressed manufacturing locally.
We've just basically said, we'll take resources out the ground sells those to China and get lots of people to come into the country and just grow the size of the economy that way, and it's a very Lazy strategy.
The first thing that strikes me is the Misallocation of resources, and our banking system is just focusing on what's most profitable and most convenient for them.
And then you just do that for 10 or 20 years and the next thing you know you've got this Bubble Economy that's just built on nothing but a foundation of sand.
I think the International structures are part of the problem here, and just because what we've actually got is a system that rewards lazy lending for mortgage purposes, but doesn't reward lending for productive and creative purposes, which creates more value.
We haven't invested in our future or in our local companies, and banks really are not that interested in supporting that.
So one of my thoughts is we need a National Bank, that's specifically set up to lend and to support business investments for the future because we can't just allow this expansion of consumer debt ad infinitum.
We're reaching the limits to how much people can and are able to service.
Only when tide goes down do you discover who is swiming naked
Warren Buffet
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