Alan Kohler explains why everyone in Australia feels so poor right now. By The Daily Mail.
ABC finance guru Alan Kohler has warned Australians suffered a ‘great, quiet disaster’ in the wake of the pandemic, with workers effectively taking a massive pay cut as inflation surged. …
‘By March 2023, an average wage earner was $5,000 a year behind.’
He said workers were unlikely to simply make up that lost ground as inflation eased.
All that printed money for covid is paid for by lower real wages. “A great, quiet, disaster.”
‘That was a permanent loss — real wages stopped rising after 2022 and flatlined.
‘The result is that for three years, real per person disposable income has been going negative.‘ …
‘On top of that, up to a few months ago, house prices have been rising faster than incomes for 25 years, locking a generation out of owning a house,’ he said. …
Most of the printed money went into asset prices. Source.
Those born in the 1990s are the first Australian generation in history to not do better than those who came before.’
Australians have been going backwards and Labor has no plan to put more money back in your pocket.
Time to vote them out. pic.twitter.com/MapLzCVgOQ
— Pauline Hanson 🇦🇺 (@PaulineHansonOz) September 2, 2026
Comparisons with other countries? Not good:
