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With a steady GDP growth, Australia’s economy seems to be doing pretty well. But, all is not well in the “lucky country,” as one of the big credit rating agencies warned it was considering downgrading Australia’s status. So, what has gone wrong?
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OECD Disposable income data
https://www.oecd.org/en/data/dashboards/households-economic-well-being-the-oecd-dashboard.html
Australia growth record 1991-2020
https://www.economist.com/the-economist-explains/2017/09/05/how-australia-broke-the-record-for-economic-growth
Australia export profile​​
https://x.com/JosephPolitano/status/1805636271370391654
World Bank GDP per capita data
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?most_recent_value_desc=true
Australia treasury overview of 1997-98
https://treasury.gov.au/sites/default/files/2019-03/round3-9.pdf
Data on $400bn windfall
https://www.afr.com/policy/economy/we-wasted-a-400b-windfall-and-now-we-ll-all-have-to-pay-20250314-p5ljjv
Australia GDP growth figures
https://tradingeconomics.com/australia/gdp-growth
Australia quarterly economic data (Q2/22 – Q4/23)
https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-national-income-expenditure-and-product/dec-2023
https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-national-income-expenditure-and-product/latest-release
IPA report on increases in Australian government spending
https://ipa.org.au/publications-ipa/media-releases/government-spending-out-of-control-up-129-billion-a-year-from-a-decade-prior
ABC report on public spending keping Australia out of recession
https://www.abc.net.au/news/2024-12-05/government-keeps-the-economy-afloat-as-private-sector-stagnates/104684708
Albanese on S&P downgrade possibility
https://www.bbc.co.uk/news/articles/c70zy7x0xy9o
ABC article with graph on productivity since 2000
https://www.abc.net.au/news/2025-03-05/gdp-december-2024-growth-australia/105011892
Australia low investment data
https://www.macrobusiness.com.au/2025/03/productivity-collapses-on-australias-economy/
Australian housing data
https://www.morningstar.com.au/insights/personal-finance/250560/australian-housing-is-twice-as-expensive-as-the-us
http://www.demographia.com/dhi.pdf
Bloomberg documentary on Australia’s economic crisis (with data on household debt levels relative to disposable income)
https://www.bloomberg.com/news/articles/2025-04-17/video-why-australia-s-miracle-economy-is-stalling
Guardian article with data on household spending growth over time
https://www.theguardian.com/business/grogonomics/article/2024/sep/05/australia-economy-gdp-growth-rba-interest-rates
00:00 – Introduction
01:16 – “The Lucky Country”
03:17 – Australia’s Recent Economic Crisis
04:48 – Productivity
06:00 – Housing
07:04 – China
07:47 – Sponsored Content
