Australia is on the 'brink' of a recession
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Published 2024-08-05
"Let's be clear I have said it many times Reserve Bank has got it wrong, it's got it wrong for the last 12 months," Mr Conroy told Sky News host Andrew Bolt.
"It put too many interest rate increases into the system and now it's being stubborn and won't accept that it has tanked the Australian economy.
"The economy is on the brink of recession the market has now caught up with the economic statistics."
All Comments (21)
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Australia is already in recession , if you ask the middle class and the less lucky ones. But to the rich , it doesn't matter what time it is.
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Hurting is an understatement! These politicians have to go! Australia is corrupt to the core!!!
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Albo will make sure it never happens by increasing immigration even more while most Australians suffer.
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As night follows day labour ends in recession
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In America dems said Trump would cause a recession. He didn't. They did. Vote accordingly.
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Let's not forget the Albanese government has squandered our money on a referendum which was destined to fail from day one. $450 million down the toilet. That's just one example.
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Never forget what they did in the name of science!
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Conroy,Albo gov has funded this disaster! This gov has F….. Australia
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Australia's huge and growing administrative class has finally sunk the country!
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On the brink of a recession 😂 keep up, we’ve been in a per capita recession since 2022 🤪
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Interest rates are not high! They were forced down to ridiculously unsustainable levels causing people to spend stupidly inflated money on houses. How did you think it was going to end!?
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As an Aussie living in the North of England (and having lived in HareHills for 2 weeks when moving North from London) Steven Conroy simply doesn't know what he is talking about. Your average working class poms are good people but they have been promised and promised things by both the Torrys and now Labor and they never deliver. Labor is now fully captured by the Ethnic Vote. The political class just do not listen to what the majority want because they know better, although they do not live with the consequences. Pander to extreme minority groups through fear that they will resort to violence (just look at the police in Hare Hills) and come down hard on indigenous poms and call them all "far right". If Australia wants to avoid this, listen to the people, do what you say you will do and no two tier policing.
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Maybe we shouldn’t have flown in 1.2 million people in two years, then inflation would have been lower, and rates wouldn’t have increased as much. Thanks labour
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The Government are the ones who have stuffed the system just look at the power cost
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And yet Labor spends as if there's no tomorrow.
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Labor has to go!
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It won’t be easy under Albanese
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Bad government policy has caused our poor economy. With no manufacturing, low productivity, small business closing all the government does is bring in more migrants from countries who have been in conflict, who bring their hatred into Australia. If the government didn't sell off our utilities we wouldn't be at the mercy of international corporations like woolworths, Westfarmers and the like who deliberately cause food disruptions to increase prices. We Australians have been sold out to the highest bidder. Our government has lost its credibility and has no way to reclaim its authority. Yeah let's import more radicals just to fudge the economic books. What about our Australian families who are doing it tough?
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Australia is already in per capita recession for long time
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Governments borrowing and printing ... and throwing it away. What could possibly go wrong?
