IMF reveals true state of AustraliaThe IMF has revealed Australia to have had the lowest economic growth in the developed world since 2005. Once again, the government has hidden the truth from Australians. We are told the economy is performing well and GDP is growing. What the IMF has told us is that Australia has the lowest GDP per capita growth in the developed world. We have the lowest income growth per capita. So essentially by pumping Australia full of people, the government is providing an illusion of growth, whereas the quality of life for all Australians is in decline.
The Baldinvestor is not sure what the outcome will be for Australia or when the reality will hit, but the results for a society in world leading debt, with the worlds most expensive housing markets, and the lowest growth in incomes cannot be good. Another report out today reveals the decimation of Australian manufacturing. Common sense says that when employment prospects are declining, salaries are not rising and any increase in interest rates on mortgages from record lows will probably cause a recession, then Australia is skating on thin ice.
For this reason the Baldinvestor has kept repeating to look outside of the Australian economy for investments. Unfortunately , the leaders of Australia have sold the country out for short term greed and hubris. Ensure that you have a moderate portion of your capital invested in countries with a more long term view to protect you from the Australian decline.
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