Tarric Brooker aka Avid Commentator 🇦🇺 @AvidCommentator Twitter profile

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Tarric Brooker aka Avid Commentator 🇦🇺

21 days

Good morning, My article detailing the last 20 years of household consumption by age demographic is now live. While there is a paywall, roughly half the article is still there for all to read, with plenty of great graphs.

The Profoundly Sick Australian Household Economy

Most Australians are going absolutely no where vs their predecessors 20 years ago.

www.burnouteconomics.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 month

The top post on Reddit Australia today. This is what happens when real wages for under 35s go no where for ~20 years and in that time housing prices go to the moon.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 years

@RealCandaceO Japan - Used masks extensively from day 1 (it was an existing part of their culture) - People obeyed govt directives, far more so than in Europe/US - The Japanese stayed home as much as possible & schools closed They have a distinct cultural advantage vs Europe.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

5 years

@MJL_Uncensored @RealCandaceO I dont know why this is such a difficult concept for some people to understand. Freedom of speech and expression works both ways, not just when you agree with what someone else is saying/doing. Americans are bloody lucky to have a constitutionally enshrined right to free speech

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

'JPMorgan is the largest counterparty to the nickel trades of the Chinese tycoon caught in an unprecedented short squeeze' So it seems the cancelling of trades on the LME was also done to prevent billions in losses for major global banks....

JPMorgan Is the Biggest Counterparty for Nickel Tycoon’s Short Bets

JPMorgan Chase & Co. is the largest counterparty to the nickel trades of the Chinese tycoon caught in an unprecedented short squeeze, putting the bank at the center of one of the most dramatic...

www.bloomberg.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

5 years

How does the number of jobs in the thermal coal industry compare? Woolworths 202,000 Coles 112,000 McDonalds 90,000 KFC 34,000 Thermal Coal 29,000 The govt goes on about the number of thermal coal jobs, yet Colonel Sanders employs more people.

Fact check: How many people are employed in thermal coal mining?

Deputy Leader of the Nationals Bridge McKenzie said there are 54,000 people employed in the thermal coal industry, but is the number that high? RMIT ABC Fact Check investigates.

www.abc.net.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

In Shanghai 63% of Japanese owned factories remain idle, with 28% below 30% of normal output. Meanwhile fences & razor wire are going up in parts of Beijing to keep people in their home & neighborhoods. This is a disaster for the global economy, it just hasnt been realized yet.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

10 months

The RBA has basically one lever. One. The federal government has many. The RBA also weren't the ones who allowed people to borrow so much, that was APRA. I'm all for criticizing the RBA when they screw up, but right now they're just doing their job, the govt isn't.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

10 months

Some of you may have noticed I haven't been on Twitter as much in the past few days. With the birth of my first child, I have been busy, as you might imagine. It's a very exciting time and the beginning of one of lifes great journeys 😁

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

5 years

Aus economy reality check - The coal industry gets $29bn p.a in subsidies/support from the govt and provides a total of 38,000 jobs - The car industry got $200m p.a and employed over 200,000 Why couldn't we save the car industry for 1/145th of the cost of coal subsidies? 🤔

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

11 months

The Rapid Decline of Aussie Universal Healthcare I find it kind of crazy how little attention is being paid by policymakers to the collapse of bulk billing for the majority of Australians. We pushed back and defeated a $5 co-pay and now $40-50 out of pocket is normal in many

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

Our new incoming RBA Governor has a $6m property portfolio and 4 investment properties....

New RBA governor’s staggering property portfolio

Australia’s next Reserve Bank Governor Michele Bullock is a Sydney landlord who has amassed a $6 million property portfolio after growing up in a country town and has rejected the big banks for her...

www.news.com.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

My dad is currently in hospital overseas after a suspected heart attack. His prognosis is thankfully okay and he got there in time. But if you could consider including him in your prayers or send some good vibes our way, if your that way inclined, that would be much appreciated

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 month

@Wasawoowoo The data shows that young people today are spending less in real terms on consumption than any other 18-35 cohort in at least 22 years. Consumption is not the problem, the figures are quite clear on that.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

6 months

"I think over the next few years, the entire political class is going to find out what happens when you ignore the one third of this country getting screwed over by a housing system that funnels billions of dollars into the people that don't need it right now" He's not wrong.

Max Chandler-Mather

@MChandlerMather

6 months

After about an hour of listening to the head of the property industry argue for more of the same when it comes to tackling the housing crisis, I couldn’t help but let my frustration boil over. I know many of us - the millions of Australians who rent - are feeling this same way.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

"We're in danger of developing a society where some people are able to buy their 6th, 7th, 8th home, but people trying to get into the market to buy their 1st home simply aren't able to." Albanese on the impact of negative gearing and the capital gains tax discount in 2016

Anthony Albanese

@AlboMP

8 years

"Australians know this is an issue for their kids & grandkids, they're being frozen out of the market" my comments on negative gearing

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 months

At what point is government simply taking the piss...

The Australian

@australian

2 months

Sam Mostyn is looking to receive a salary of $709,000 a year when she steps into the role, under a 43 per cent pay rise being proposed by the Albanese government:

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 month

In October, Kiwi (New Zealand) migration peaked and has dropped sharply by almost 40%. Rental demand has fallen every consecutive month since and is down 30% compared with this time last year. Who would have thought migration and rentals were linked...

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

This is gold 😂

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

3 months

This is absolute clown world level stuff Australia. h/t @timbogong

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

In New Zealand negative gearing was phased out. Today first home buyer finance commitments are 1/3 higher than property investors. And the proportion of loans flowing to investors is roughly half what it is Australia. There are very clearly solutions that work. Chart: RBNZ

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

5 months

That's not gone well... Source: ABC News

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

It just dawned on me. In 1991 the median Melbourne home could be purchased for roughly 3 times a households annual income. In 2022 the deposit and stamp duty on the median Melbourne home is more than 3 times the median household income of local households.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

As calls rise for the govt to throw money at Aussie mortgage holders, I cant help but reflect on the absurdity of it. There are millions of carers, disabled & elderly hit by inflation, yet in this country the loudest voice is folks who dont like downside of their choice.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

3 months

This absolutely needs to be acknowledged by policymakers. There are very real consequences to locking people out of the type of home ownership that was the norm in the past and then running policies that have destroyed their shot at real wages growth.

Alex Joiner 🇦🇺

@IFM_Economist

3 months

Birth rate has slumped, the system has failed those wanting to form families...

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

5 months

That is 3 out of 4 now. Canada, NZ and U.K govts have all admitted migration levels are unsustainable.

9News Australia

@9NewsAUS

5 months

"We need to ensure that New Zealanders are put to the front of the line for jobs where there are no skills shortages," the country's Minister of Immigration said. #9News THE CHANGES:

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

“The fact that one of the least populated countries on Earth contains the world’s second most expensive housing is a national calamity, and a stunning failure of public policy,”

Australia’s ‘deeply unfair’ housing system is in crisis – and our politicians are failing us

Alan Kohler’s Quarterly Essay lays out how the policies of successive governments have not only failed to address housing problems, but actively created them.

theconversation.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

23 days

"Universities & colleges will be limited to enrolling a max of 40% of their students from overseas, with caps to be in place for 2 years and numbers based on 2019 figures" If implemented this effectively kills the dodgy private college. Fantastic.

Unis to be capped at 40pc overseas students

The federal government will limit universities to 40 per cent international enrolments and bring numbers back to 2019 levels.

www.afr.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 months

Australia is the 2nd largest exporter of LNG in the world. Yet we somehow don't have enough gas for ourselves. It's amazing how many of Australians problems are self inflicted by policymakers.

The Australian

@australian

2 months

Andrew Forrest’s Squadron Energy says its LNG import terminal at Port Kembla could be fast tracked to plug looming gas shortages on the east coast, amid fears regular shortfalls are likely to emerge much earlier than initially anticipated. Find out more:

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

51% of international student university graduates still in Australia after 3 years are working in Level 4-5 jobs. These jobs are: Level 4 - Bar staff, waiters etc Level 5 - Cleaners, couriers etc A sad indictment of our Uni sector.

Analysis: Sky News explains Australia’s migration strategy

Sky News' Tom Connell breaks down the government's migration strategy, highlighting how it intends to navigate both short-term and long-term issues of migration.

www.skynews.com.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

3 months

In 2015-16 the NDIS cost $1bn. In 2024-25 it's projected to cost $49bn, roughly in the same ballpark as the entire defence force budget. The truly astounding thing is spending an extra $48bn a year, only to produce worse per capita economic outcomes than the 1930s.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

20 days

And who decides what is or isn't fake news. Iraqi WMD was considered truth until proven catastrophically false.

The Telegraph

@Telegraph

20 days

🔴 Tech companies will be forced to ban fake news from their platforms under plans being considered by the Government in the wake of the riots Read the full story here 👇

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 months

Back in 1973 when Australia's population was less than half what it is today & the most advanced tool on most building sites was a hammer, we built 108.7k new houses in a year. In the last 12 months of data we built 114.2k, just 5% more than 50+ years ago.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 years

I've always found it ridiculous that rising housing prices are celebrated by much of the media & falling prices are seen as a bad thing After years of watching friends work twice as hard as their parents for a similar home & forgoing having kids they wanted Let prices fall

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 months

The Roman emperor Augustus once said: "I found Rome built of bricks, I leave her clothed in marble" Considering the huge windfall Australia has enjoyed from commodity exports since 2004, we should have the modern equivalent, but instead we have falling per capita outcomes.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 months

Narrative: Australia needs more construction workers Reality: Australia has almost 50% more construction workers per capita as the U.S and 57% more than the OECD average. Perhaps the demand side of things needs to be considered? Chart source:

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 month

Shockingly a median first home buyer age of 35-37, unaffordable houses becoming an increasingly national issue and years of a rental crisis with no end in sight has led to fewer people having children....

9News Australia

@9NewsAUS

1 month

Australia is in a baby recession that hasn't been experienced in decades, as the cost-of-living crisis stops people from starting families. #9News ALL THE FINDINGS:

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

Several of you have been asking for a chart comparing disposable income growth with housing prices across Australia, Canada, NZ and the U.S. And here it is. A big hat tip to @GetTheLeadOutCA for finding this chart.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

The average Australian full time worker is actually far worse off after inflation and is actually going backwards at the fastest rate in at least 30 years.

Jim Chalmers MP

@JEChalmers

1 year

The average full-time worker is earning around $3700 extra per year since the @AlboMP @AustralianLabor Government came to office - getting wages moving again is a key part of our plan to ease cost-of-living pressures #auspol #ausecon

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

3 months

This really is quite a stunning admission by the RBA. By some metrics households have been crushed more by the cost of living & rates than any time in 50 years. Yet it's not very relevant, because the labour market and headline GDP are artificially supported by high migration.

88888

@88888sAccount

3 months

thats nice

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

'Australian housing wealth is meaningless, destructive and fundamentally changing our society' "High-priced homes do not create wealth, Alan Kohler says, they redistribute it. Now financial success is largely a function of geography, not accomplishment"

Australian housing wealth is meaningless, destructive and fundamentally changing our society | Alan...

High-priced homes do not create wealth, Alan Kohler says, they redistribute it. Now financial success is largely a function of geography, not accomplishment

www.theguardian.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

20 days

The British judiciary and political class are going off the deep end.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

Its worth noting that prior to the impact of record high migration, housing prices in NZ and Australia were collapsing. Both faster than the U.S during the GFC recession. A very deliberate choice was made to pull the last available lever to support prices.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

Over the last 2 weeks I have copped an absolute torrent of crap from people over my views on the rental crisis. Well here's one for you folks, why after almost a year has the Albanese govt not even paid lip service to this issue which sees Aussies living in tents and cars?

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

- U.S 5 year - 30 year yield curve = Inverted - U.S 2 year - 10 year yield curve = 0.145% away from inverting - 10 year Japanese bonds get 0 bids The issues in the bond market are hanging like a Sword of Damocles across all asset classes, they just don't realize it yet.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

27 days

“International students accounted for more than half of Australia’s GDP growth last year." If it feels like most of the Australian economy is going no where, that's because it is.

Vacancy rates show overseas students being scapegoated: unis

New analysis shows locals in Australia’s three biggest cities have a better chance of finding an apartment in suburbs with large international student populations.

www.afr.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

That is an absolutely disastrous core CPI print for Britain... The Bank Of England is well and truly the cautionary tale for this inflation cycle.

PiQ

@PiQSuite

1 year

🇬🇧 United Kingdom Core CPI (YoY) (May) $GBP Actual: 7.1% 🟢 Expected: 6.8% Previous: 6.8%

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

Australia has: - Collapsing rates of bulk billing - Worst real wages growth in decades - The worst rental crisis in living memory Yet Albo has one of the highest approval ratings of any leader in the developed world.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

22 days

- Rental crisis with no end in sight - Real wages at 2010 levels - Over 55s only age demographic with discretionary real household consumption above 2003 levels - 1 in 4 fear becoming homeless - RBA forecast extremely weak housing construction recovery

Anthony Albanese

@AlboMP

22 days

New album just dropped.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 month

When ScoMo was PM I said that LNP supporters needed to take a hard look at what their party had become. That is now equally true of Labor. Instead of raising Newstart, fixing bulk billing or any number of slam dunk traditional Labor issues, its all so much too hard basket.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

11 months

This day will go down in Australian history. Not solely due to a majority of voters rejecting the Voice, but because it didnt need to be this way. We could have had a slam dunk constitutional recognition of indigenous Australians, but instead the Albanese govt chose this path.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

This chart of Domain's asking rents indices for Sydney is astounding. If any regular Joe or Jane in their private sector job screwed up this catastrophically they would never work again outside of delivering for Door Dash. But for our governments, it's just a Friday.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 month

The time is coming soon for young Aussies to do our annual taxes and pay billions of dollars toward politicians pushing housing and accessible quality of life further out of reach.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

This is gold 😂 At some point you just need to laugh about it or you go nuts.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

Just wow.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

10 months

Australia has more construction workers per capita than almost anywhere in the developed world & the number of people directly employed in building homes has roughly doubled in the last decade We don't have a worker shortage We have a demand problem & inefficiently used labour

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

RBA surprises the market and the vast majority of economists with a 0.25% rise in the cash rate. I'm sure all the folks who did their victory laps on the rate rise cycle being over are going to put their hand up and admit they got it wrong.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 months

Some folks regularly conclude that me criticising Morrison or Albo means I support the other side, I don't and why would I? Neither side represents the interests of me or my family, or the vision of the kind of world I want for my son's future.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 month

It's said the reason young people can't afford homes is because they spend frivolously. Well 15-24 and 25-34 households spend less on booze and tobacco in headline real terms today than they did over 20 years ago. For those 15-24, the real spend is -28%, for over 65s its +105%

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

7 months

Okay let me set the scene for you. Its at a Property Council of NSW lunch. Former NSW Premier Dominic Perrottet takes to the stage. He then calls for negative gearing reform and called the current immigration policy a "Ponzi scheme" This not a joke.

Perrottet breaks silence to call for negative gearing review

The former premier also said NSW should be funded by the Commonwealth to pay for the “lazy economic Ponzi scheme” of immigration.

www.smh.com.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 years

ScoMo says workers earning 180k a yr are not rich Albo responds that some workers on 180k a yr are struggling In reality workers earning 180k are in the top 4% of income earners That is rich by any meaningful definition No wonder our country is broken

PM: People who earn $180k aren’t ‘rich’

Scott Morrison has defended tax cuts for high income earners, declaring FIFO miners in Queensland earning $180,000 are not rich and should not be regarded as in the same class as “merchant bankers”...

www.news.com.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 months

This chart from CBA is arguably one of the most important around for Australia currently. Annual jobs growth outside non-market employment (health/NDIS/care, education/training and public admin) is basically dead. Yet jobs growth in aggregate is higher than pre-Covid.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

"Australians now need to earn over $300,000 per year to comfortably afford to buy their own home, according to new housing data." The results of decades of wilfull decisions made by the bipartisan political class.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

In the past 72 hours - Russia has begun a naval bloackade of Ukraine - Recruited 15k mercenaries from Syria and the Middle East - Asked China for military help (according to U.S) These do not sound like the actions of a nation about to make peace like headlines claim.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

6 months

I must admit I have been surprised by how few f***s politicians at a state and federal level have to give over the rental crisis. Millions of people not even asked to sacrifice, but made to do so by poor policy. No explanation of why or when their challenges could end.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

8 months

You know what will help, another 12 months of the expansion of the population far exceeding the number of new homes needed to adaquately house them.

Meanwhile in Melbourne

@meanwhileinau

8 months

The rental crisis in Melbourne 🧐

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

5 years

- Australia has 18,000 homeless kids under 12 - We spend $4.3b a year on negative gearing - How can helping one be unfunded empathy and the other "assisting aspirational people"? Yet we always seem to be able to find the $100m+ to pay for the govts reelection pork barrelling

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

8 days

So 4% of the nation's registered training organizations were shut down for offering international students visas but quite literally no education whatsoever. As various media investigations have shown, the tip of the ice berg.

Nearly 300 ghost colleges shut down or shown yellow card

Nearly 300 so-called ghost colleges have been shut down or put on notice amid a government crackdown on vocational providers offering international students visas but no education.

thewest.com.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 months

‘Millionaire migrants’ flood Aussie property market' A new report has concluded that Australia welcomed more millionaire migrants than any other nation in the world in 2023. Source:

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 month

'Australian universities accused of awarding degrees to students with no grasp of ‘basic’ English' "academics say universities have turned a blind eye to language shortcomings because of the revenue generated from international student fees"

Australian universities accused of awarding degrees to students with no grasp of ‘basic’ English

Academics say universities have turned a blind eye to language shortcomings because of the revenue generated from international student fees

www.theguardian.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

Global food prices are up another 13% in March to hit an all time record high. The risk of this cascading into widespread unrest around the world which could drive further inflationary pressures across the board is quite real.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

'The economy is being driven by a ‘bankocracy’ housing boom' "A political conspiracy to increase property values, and win votes, is being amplified by a banking industry that wants to increase profits." Nailed it @AlanKohler

The economy is being driven by a ‘bankocracy’ housing boom

A political strategy to increase property values, and win votes, is being amplified by a banking industry seeking higher profits.

www.afr.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 months

Straya 🇦🇺 h/t @MilkshakesPod

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

"The chair of APRA has revealed he is open to changing bank rules on home loans if the Australian economy deteriorates, ensuring banks do not “choke off” credit and upset home prices further." This country is an absolute joke

APRA open to changing banking rules for home loans

If economy worsens, it would act to maintain credit flow

www.brokernews.com.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

10 months

"Surely we need our tax system to enable everyone to have access to one home, before incentivizing a minority to have many." - Former Liberal MP Rob Stokes "Housing should not be seen as a financial asset, it should be seen as a fundamental human right." - NSW Housing Minister

10 News First Sydney

@10NewsFirstSyd

10 months

#Exclusive : A former Liberal state planning minister is calling for an overhaul of property tax laws to save the great Australian dream of home ownership | @lachlan_kennedy @ChrisMinnsMP @RobStokesMP

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

"Importantly, removing negative gearing increases the average homeownership rate of the economy from 66.7% to 72.2%...the average size of mortgages held by homeowners decreases by 21%" - RBA Man that sounds really bad....

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

10 months

Unpopular opinion time Savers were screwed for years with low interest rates and for a substantial period of time below inflation returns, particularly after taxes. Savers getting a decent rate of return is a cornerstone of the system, low rates was the aberration.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 months

In 2022-23, the average cost of constructing a new NSW apartment was $386k, including the builders profit margin. So why is it costing the NSW govt $1.12m each.... Absolutely absurd stuff, particularly when economy's of scale should apply.

ParraPower

@parrapower2022

2 months

The government will be a builder for these build to rent homes. We all know that it will not end well. Tax payers may end up paying double $900 million for ~400 units. @AvidCommentator

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

8 days

'Australia's 'ghost college' crackdown: Hundreds of providers shuttered or warned' My question is what happens now. What happens to the providers who committed mass fraud? And the thousands or more who got a visa under false pretences?

Australia's 'ghost college' crackdown: Hundreds of providers shuttered or warned

So-called ghost colleges exploited a now-closed loophole in Australia's visa system. Now they're being shut down.

www.sbs.com.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

6 months

Median house price when the LNP was elected in 2013 (ABS): Sydney: 605k Melbourne: 480k Brisbane: 445k Adelaide 393.5k Perth: 528k Hobart: 345k When they left in 2022 (Corelogic): Sydney: 1.42m Melbourne: 1m Brisbane: 880k Adelaide 676k Perth: 578k Hobart: 793k

Senator Andrew Bragg

@ajamesbragg

6 months

Statement on appointment to Shadow Ministry. The Australian dream is becoming the Australian nightmare. It must be fixed.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

Labor's 2% deposit, up to 40% shared equity scheme: If it successfully props up housing prices = Non-homeowners lose If it fails and the taxpayer ends up on the hook for millions = Everyone loses An awful lose-lose Labor has just handed younger generations and non-homeowners.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

Oh no, private colleges might go bankrupt if the government cracks down on... *checks notes* Alleged visa scams...

Financial Review

@FinancialReview

9 months

EXCLUSIVE: Vocational colleges which take many students from India and other countries could go bankrupt if the Albanese government’s plan to crack down on visa scame goes ahead, a group has warned

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

This graph from the ABC on interest rates on savings accounts is brilliant. Relative to the historical spread between the cash rate and savings interest rates, Aussies are being shafted out of billions of dollars a year.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

5 years

When passengers from effected areas in China arrive in Aus, they arent screened or quarantined. They are given a pamphlet with a number to call if they show symptoms and allowed into the country. How is this in anyway an adaquate response?

9News Australia

@9NewsAUS

5 years

A fresh case of the deadly coronavirus has emerged in Sydney. @cokeefe9 #9News

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

1 year

In 1993 a brand new Subaru WRX cost $40k, today it costs $46k. In inflation adjusted terms it would cost $85k today. Why is that we can leverage technological advancement to make a much better product, much cheaper. Yet not housing, there is a lesson here.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

8 months

Fascinating chart. In 2022, Australia had the 10th highest GDP per capita in the world. Once accounting for cost differences, we fall to 18th. Once accounting for costs and the number of hours worked, we fall out of the top 20 alltogether. h/t @Mayhem4Markets

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

I would like to propose a motion, that housing price moves of the same magnitude both up & down be treated the same by policymakers. If they sat on their hands while housing prices rose by up to 3% each month, they should do the same if the inverse occurs. That's a free market.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 years

I went for a walk and I came across this. It's not wrong.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

3 months

I was talking to a mate in construction (Australia) and in the space of about 6 weeks work has gone from being plentiful to increasingly hard to come by. Even labour hire companies he deals with are seeing major drop offs. An anecdote supporting the latest AiG data.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

Fixed Mortgage "Cliff" - A thread - There has been quite a bit of debate about this issue in recent days, so I thought I would try and put into perspective with some data. - Around 46% of fixed loans will expire in 2023, which accounts for ~18% of mortgages overall. 1/

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

29 days

Patricia Karvelas to Jim Chalmers this morning. "Do you accept that, while we're not in an official recession, people feel like we are in a recession?" This is a fair question. Aussies have seen the largest fall in living standards in 40+ years even without a recession.

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 months

That moment when Australia is getting absolutely smoked by the OECD average in terms of relative growth levels in real household disposable income per capita. h/t @breakfast_dogs

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 months

I just want to clarify something. Australia doesnt need more tradies, it needs to use the one we have far more efficiently But if we are going to do the whole "we need migrants to build houses" thing, then let's get migrants who actually build houses not more chefs/accountants

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

3 months

I'm tired of the BS narratives that don't stack up to the most basic assessment. "We need migrants to build houses" Okay. Do new arrivals build homes at a greater rate than the population? No, they are 37.1% less likely to be tradies. Source:

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

13 days

In the coming years and decades we will collectively deal with the mental health and social legacy of the rental crisis. Of partners and children trapped in desperate or abusive situations. Of people who work full time and did everything right, but still can't get an

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

11 months

Australia is so broken...

elle hardy

@ellehardy

11 months

All is well in Australia

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

4 months

Wow, just wow....

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

This chart from Bank of America on the U.S savings rate is astounding. Excluding a very brief peroid in 2005, savings rates are at their lowest level since the Great Depression. h/t @Mayhem4Markets

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

"Our immigration intake, meanwhile, is running at record levels with up to 600k arrivals expected this calendar year. If we continued at that rate for four years, there'd be enough people to fill a city the size of Brisbane." - ABC News 600k.....wow

The uncomfortable truth about record immigration levels, rents and inflation

High rents are driving our inflation because of record levels of immigration, and few appear willing to confront the problem. But this is not — and should not — be an argument about multiculturalism,...

www.abc.net.au

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

9 months

"PM Anthony Albanese has said high inflation is a global phenomenon caused by supply chain issues, just a day after Michele Bullock urged Australians to recognise that price rises were increasingly being driven by local factors."

Albanese says inflation is global, Bullock warns it’s ‘homegrown’

The opposition has accused the prime minister of being at odds with the RBA governor over the drivers behind high inflation.

www.afr.com

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Tarric Brooker aka Avid Commentator 🇦🇺

@AvidCommentator

2 years

In China youth unemployment hit 19.9% today. This is higher than Portugal. Its near triple the rate of Hong Kong and more than double Australia's and the U.S. But the truly astounding thing isn't the number, its that the Chinese government publicly released this figure.

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