Keep in mind that the poor Australian GDP growth is also whilst we are running record levels of immigration. GDP per capita, and perhaps more importantly, real

Keep in mind that the poor Australian GDP growth is also whilst we are running record levels of immigration. GDP per capita, and perhaps more importantly, real net national disposable income (RNNDI, [1]) per capita have both performed poorly since 2008. Indeed, RNNDI per capita has declined to be only 0.4% higher than it was in 2008, and has declined continuously since December 2011[2], i.e. living standards in Australia have been falling for five years! House prices keep on rising. Inflation is not a problem for Australia. Our problem is debt deflation. We owe so much to the rest of the world for our shitty $1 million fibro and brick veneer shacks that as terms of trade decline, servicing that debt (private debt, not public debt) will suck up all the income we have. [1] http://www.abs.gov.au/ausstats/abs@.nsf/0/3FA94A5DA5F20EDDCA256B7400730B78?OpenDocument http://www.abs.gov.au/ausstats/abs@.nsf/0/3FA94A5DA5F20EDDCA... [2] http://www.abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/5204.0Main%20Features22015-16?opendocument&tabname=Summary&prodno=5204.0&issue=2015-16&num=&view= http://www.abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/5204....