Fix the Economy, Stupid!

Since leaving Fox News, Tucker Carlson has gained a huge audience who want to hear him speak freely about many controversial issues. He posted a clip last week talking to supporters in a Michigan rally, where he exposed how politicians on both sides of the aisle wilfully ignore the people’s needs. You can check it out here. I’m sure there’re many of us in Australia who feel the same. I reckon the vast majority of Australians believe their political leaders hardly care about their needs, preferring to serve those who lavish them with donations and favours. The Governance Institute of Australia’s recently released its Ethics Index report showing the most and least trusted occupations. Not surprisingly, the Federal and State politicians take second and third place as least trusted! Perhaps our politicians should listen to what Tucker said and align their priorities to what ordinary Australians want. Just fix the economy, stupid! The betrayal of Australia by those most out of touch with reality I’ve shown you in the article two weeks ago how the prosperity of the ordinary Australian household has declined since the turn of the millennium. People’s pay might’ve increased but they’re able to afford less. Meanwhile, rising property prices condemn would-be homeowners to a lifetime of paying down a massive debt, possibly into their retirement. Many of you’ll never forget how the previous Governor of the Reserve Bank of Australia, Phillip Lowe, misled us all by saying in 2021 that there won’t be an interest rate rise until 2024. What happened in the past 18 months? The interest rates increased from 0.1% to 4.1% now. How are people coping with their living costs with this additional burden? Then there’s the Morrison government and our state premiers who locked us down while letting big corporations continue operating during the Wuhan virus outbreak. For the life of me, I don’t know how forcing the populace to shop only in big companies would stop the spread. Doesn’t it do the opposite? So three years on, our economy is in shambles with many small businesses and households facing ruin. Meanwhile, big corporations and the rich are better off. Think about how many billionaires and millionaires have prospered thanks when asset prices went sky high. Fact is, our economy is much worse today as we watch our leaders create more problems with their policies and proposals. ‘The Voice’ — A land grab in disguise I’m going to exercise caution in approaching this. No doubt ‘The Voice’ is a controversial topic. What is it that we’re voting for on 14 October? For what I know, we’re asked to vote on two questions. The first is about whether we recognise the Aborigines and Torres Strait Islander people into our Constitution. The second question is yet to be disclosed. Should we pass the referendum, it’ll give our government the mandate to declare that the Indigenous people be incorporated as Australian citizens. Currently, Aborigines and Torres Strait Islanders are a separate people sharing the same land. And we’re recently hearing from many of the Aborigines and Torres Strait Islander people standing against it. Now, my understanding is that the change in the Constitution takes away their sovereignty status. A ‘sweetener’ to the deal aimed at getting this over the line lies in the government being able to act on their behalf to reclaim their traditional land. But do you trust the government will give the land back to the Indigenous people without pocketing a (big) chunk? I’ll leave it for you to ponder. What’s not thought through is the economic implication of changing the Constitution on the existing land rights. This’ll hurt the agriculture and mining sectors the most, and I’m sure other industries will experience it too. The change could make possible for government to take away existing properties on the grounds that it belonged to certain Indigenous tribes and redistributing it as it sees fit. Similarly, it’ll complicate the planning and permitting process, reducing efficiency and bringing more controversies. Not only could it negatively impact local business, but foreign businesses could think twice about coming here. It’s not as benign as they’re selling it. And you can expect unintended consequences to come in truckloads, pun intended. Protecting your interests and wealth of utmost importance Australians are going to have to tough it out to make ends meet. It’s been hard and I believe it could get harder. Let’s face it, politicians aren’t looking after us. Unless you’re part of the small minority who have the clout to influence them. Most of us aren’t part of that club. The only benefit we get for obeying them is the short-term warm and fuzzy feeling before we pick up the tab. I believe it’s critical you take matters into your own hands. The Australian dollar has been dropping sharply in the past two months. It means imports are going to cost more. This covers a lot of what we buy for our daily needs. One consolation is that gold is worth more. That could help offset the hardships we face. For the past two years, gold mining companies have trailed most industries because of a weak market sentiment, difficult mining conditions and a high oil price restricting their profitability. But with economic headwinds blowing, I believe there’ll be a flight to safety and gold will have its day. Take advantage of this now and it could pay off in the coming years. You can do this with my investment newsletter service, The Australian Gold Report where I show you ideas on starting to build a precious metals portfolio now. God Bless, Brian Chu, Editor, The Daily Reckoning Australia All advice is general advice and has not taken into account your personal circumstances. Please seek independent financial advice regarding your own situation, or if in doubt about the suitability of an investment. The post Fix the Economy, Stupid! appeared first on Daily Reckoning Australia. [Image] Here are Some More Investing Tips and Resources. Enjoy! Sponsored [Fix the Economy, Stupid!]( Since leaving Fox News, Tucker Carlson has gained a huge audience who want to hear him speak freely about many controversial issues. He posted a clip last week talking to supporters in a Michigan rally, where he exposed how politicians on both sides of the aisle wilfully ignore the people’s needs. You can check it out here. I’m sure there’re many of us in Australia who feel the same. I reckon the vast majority of Australians believe their political leaders hardly care about their needs, preferring to serve those who lavish them with donations and favours. The Governance Institute of Australia’s recently released its Ethics Index report showing the most and least trusted occupations. Not surprisingly, the Federal and State politicians take second and third place as least trusted! Perhaps our politicians should listen to what Tucker said and align their priorities to what ordinary Australians want. Just fix the economy, stupid! The betrayal of Australia by those most out of touch with reality I’ve shown you in the article two weeks ago how the prosperity of the ordinary Australian household has declined since the turn of the millennium. People’s pay might’ve increased but they’re able to afford less. Meanwhile, rising property prices condemn would-be homeowners to a lifetime of paying down a massive debt, possibly into their retirement. Many of you’ll never forget how the previous Governor of the Reserve Bank of Australia, Phillip Lowe, misled us all by saying in 2021 that there won’t be an interest rate rise until 2024. What happened in the past 18 months? The interest rates increased from 0.1% to 4.1% now. How are people coping with their living costs with this additional burden? Then there’s the Morrison government and our state premiers who locked us down while letting big corporations continue operating during the Wuhan virus outbreak. For the life of me, I don’t know how forcing the populace to shop only in big companies would stop the spread. Doesn’t it do the opposite? So three years on, our economy is in shambles with many small businesses and households facing ruin. Meanwhile, big corporations and the rich are better off. Think about how many billionaires and millionaires have prospered thanks when asset prices went sky high. Fact is, our economy is much worse today as we watch our leaders create more problems with their policies and proposals. ‘The Voice’ — A land grab in disguise I’m going to exercise caution in approaching this. No doubt ‘The Voice’ is a controversial topic. What is it that we’re voting for on 14 October? For what I know, we’re asked to vote on two questions. The first is about whether we recognise the Aborigines and Torres Strait Islander people into our Constitution. The second question is yet to be disclosed. Should we pass the referendum, it’ll give our government the mandate to declare that the Indigenous people be incorporated as Australian citizens. Currently, Aborigines and Torres Strait Islanders are a separate people sharing the same land. And we’re recently hearing from many of the Aborigines and Torres Strait Islander people standing against it. Now, my understanding is that the change in the Constitution takes away their sovereignty status. A ‘sweetener’ to the deal aimed at getting this over the line lies in the government being able to act on their behalf to reclaim their traditional land. But do you trust the government will give the land back to the Indigenous people without pocketing a (big) chunk? I’ll leave it for you to ponder. What’s not thought through is the economic implication of changing the Constitution on the existing land rights. This’ll hurt the agriculture and mining sectors the most, and I’m sure other industries will experience it too. The change could make possible for government to take away existing properties on the grounds that it belonged to certain Indigenous tribes and redistributing it as it sees fit. Similarly, it’ll complicate the planning and permitting process, reducing efficiency and bringing more controversies. Not only could it negatively impact local business, but foreign businesses could think twice about coming here. It’s not as benign as they’re selling it. And you can expect unintended consequences to come in truckloads, pun intended. Protecting your interests and wealth of utmost importance Australians are going to have to tough it out to make ends meet. It’s been hard and I believe it could get harder. Let’s face it, politicians aren’t looking after us. Unless you’re part of the small minority who have the clout to influence them. Most of us aren’t part of that club. The only benefit we get for obeying them is the short-term warm and fuzzy feeling before we pick up the tab. I believe it’s critical you take matters into your own hands. The Australian dollar has been dropping sharply in the past two months. It means imports are going to cost more. This covers a lot of what we buy for our daily needs. One consolation is that gold is worth more. That could help offset the hardships we face. For the past two years, gold mining companies have trailed most industries because of a weak market sentiment, difficult mining conditions and a high oil price restricting their profitability. But with economic headwinds blowing, I believe there’ll be a flight to safety and gold will have its day. Take advantage of this now and it could pay off in the coming years. You can do this with my investment newsletter service, The Australian Gold Report where I show you ideas on starting to build a precious metals portfolio now. God Bless, Brian Chu, Editor, The Daily Reckoning Australia All advice is general advice and has not taken into account your personal circumstances. Please seek independent financial advice regarding your own situation, or if in doubt about the suitability of an investment. The post Fix the Economy, Stupid! appeared first on Daily Reckoning Australia. [Continue Reading...]( [Fix the Economy, Stupid!]( And, in case you missed it: - [Adani Green: Total Support]( - [360 One: Competition in Wealth Management]( - [Linkfest: 21 September,2023]( - [Great-West Lifeco Inc]( - [Fundamental Analysis of Havells India – Financials, Future Plans & More]( - FREE OR LOW COST INVESTING RESOURCES - [i]( [i]( [i]( [i]( Sponsored [How To Extract Profits From Uncertain Markets]( The news wants to scream “doom and gloom” about the current market. 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