Valuable information for those willing to listen... If you have the time, please watch it in its entire length. http://www.youtube.com/watch?v=cB5ihHGsm2o I would also like to mention; The part relating to the younger generation starting at 16:35 should strike interest - as a member of the younger generation I want to stress how true this really is, and most middle-aged+ citizens refuse to believe it even when being told by someone from the generation in focus. The current youth (this includes me) are increasingly becoming more and more disenfranchised with the current situation (economically, politically and financially), we are no longer bribed into conforming to cultures ruling for the 'house with the white picket fence' or for the ridiculous illusion we call 'our pensions' etc. - we know there's a huge chance that due to the corrupt, debt ridden, despot system we allow to continue we may never see these rewards when the time comes and that forms quite a large piece of my philosophy of WHY economically/financially/politically it HAS to change. It truly cannot continue and we are well aware the changes required are most certainly going to be happening in front of us, but in order for them to be fair, equitable and achievable they will need to be given the very desired momentum by us. This video provided the explanation to what so many people I speak with, feel. I thought it was suitable to share here. SilverJay
Julie W posted this months ago mate.....That gal is on the ball! I've watched it twice and sent it to a mate who was'nt too happy with and he also very switched on with all the politics of Oz and the U.S, he was'nt very happy with it...... I think it was pretty spot on especially the parts about too many gov. workers under Labor esp in QLD and also the effects of the carbon tax basically dragging the economy way down.....And forcing the prices of power way too high. Makes you want to move to another country!
I REALLY feel sorry for the younger generations like yourself mate.......Real Estate in the last 7yrs skyrocketing to unseen levels and pretty much out of young people reach forever due to the government allowing too much specualtion from the rich investors......Rents constantly rising, Some apprentices not getting payed enough to cover the expenses of living these days and barely making it to work everyday, Energy prices through the roof, Petrol prices too high, Speed cameras bloody everywhere, Univertsity expenses very high with minmal job prospects anyway, Constant upgrading of new technology and whizbang crap and the list goes on and on.... Tell all your friends to start learning more about whats going on in the country instead of just ignoring it......Put in on Facebook and all the other stuff you guys use. Show ALL your friends the clip so they can learn and make their own decision. Become an INFORMED VOTER....... or at least try to. Hopefully we may see some changes when the Liberals start next week and next year..... You also NEED to understand that westernised countries (Oz, U.S, U.K mainly) are going through MASSIVE change. They are sending LOTS of business/factories to Eastern countries because the labour rates are rediculuosly cheap compared. So like Holden/Ford they have to close down and put lots of people off... Plus all the local suppliers down the chain so the effects are enourmous. Australia has NEVER experienced change like this and I recommend trying to find a job in an industry that will not be effected by these changes.....We'll find out in a few more years.....Prepare now..... Good luck!
I've thought about moving to other countrys. I think there's no where to really run though really.... Globalization. Global problem.
Youth is potential. The future is yours to construct. The worst fate is to believe you can't change yours. Or as the saying goes, 'a life lived in fear is a life half-lived'. /gratuitous advice from old person.
Just do your best to keep your job or advance if you can.......Also keep in mind that the Europe and the U.S are in really bad shape and no one really knows if there will be a GFC 2 even much bigger than the first one..... Stay out of the nightclubs and drugs and excessive drinking and dont blow money on cars and crap......Try to keep some money in the bank becuase if you lose you job you will need it to survive until you find something else..
If we removed government from housing, if government stepped aside to allow supply to rise to demand I as a 21 year old could move out in 2 years instead of 15. Instead we have a government restricting supply by limiting lot approvals (Like it is at all legitimate for one group of people to tell another group of people not to build on X) by having huge taxes a regulation creating barriers of entry into the housing market and finally by artificially manipulating the intrest rate to encourage debt and discourage saving. I cannot wait to see the system burn. I will save and Stack gold silver and BTC, I will rejoice and when the dust settles, I will buy and carve out a space for myself to prosper.
Nice sentiments Julie but of little comfort to the "lost" generation of youth and gen xers in countries such as Greece, Portugal, Ireland etc. even in Australia which is heading in the same direction albeit more slowly. You had your turn, reaped the benefits and let the children pick up the bill.
Don't forget you are now also directly in competition with non resident millionaires and hot overseas money.
When you lose your job is when you start to go to nightclubs, take drugs, drink too much and generally blow money on crap. Save hard for when it happens.
Thanks mate. I already have my house and it's going up in price rapidly. Asset rich apparently but income poor. It's my children, brother in law, his 3 kids I'm thinking about. Personally I'd rather my home was worth less if it was more affordable for my loved ones to buy and Ill gotten foreign money wasn't allowed into our property market. And spare me the sell up and move somewhere cheaper spiel. Can't do it for numerous reasons.
I have NEVER experienced it to be so hard as to where to put your money to keep it safe as we are presenlty experiencing......How are young people supposed to save for a house deposit when the rates are so damn low and you taxed on any interest also.......RECORD low interest rates around the world to keep the entire system alive is forcing LOTS into RE because it seems to be the last resort at the moment..... But at the same time they are taking on MASSIVE debt for 25-30yrs in the face of a possible GFC 2 that may happen anytime soon. Pms have gone backwards bigtime and are VERY vulnerable at the moment......I really cannot decide on them yet.
Byron, with all due respect, just because a person maybe demonized as one of those Baby Boomers that have totally cleaned out the cupboard bare leaving nothing for future generations, is a cop out from the "I want it now generation". Firstly, 99% of the educated babyboomers knew nothing about understanding the full ramifications of fiat currency and how it would decimate economies. That has not fully come to the forefront until the last 10 years. It's very easy to point the finger at the Mums & Dads who worked hard and seized on opportunities to gain a better standard of living than what they had. If you were brought up in my generation of the 50's & 60's without the internet and the latest technology or education, do you seriously think you would have acted any different? From my reckoning, its only been recent education, not from the mainstream that has enlightened the true goings on of the corruption of government and the financial system. The key now is rather than blame previous generations for any wrong doings, it's to work out a way forward from this mess whereby governments have orchestrated this. Not the people. No one wants to see future generations put up with corrupt governments who have sold the silverware to completely corporatize this nation.
One small point for comparison with the 'olden days' and how good we had it. At age 26 I had a wife, 4 kids and a mortgage, NO CAR! Went every where on foot, or by bus etc. Bought my first car then, a 16 year old (4th hand) AUSTIN A40 for 80 pounds. Kept it until I was over 30. What do you drive? OC
Don't forget that when all these 'investment houses' mums and dads die, who reaps the benefit of their savings? I seem to recall as a kid, when housing was about 12-15 thousand pounds, there were a lot of people who still had nothing, my family included even though my father held a manager's position. The pubs would be abuzz when I walked past selling newspapers and patrons were literally spilling out onto the footpath. I think many people tend to look at the past through rose coloured glasses. I'd rather be living in today's world than the world of the fifties.
