While we are having the $100k party, this essay is the most important thing happening in #Australia

Please read:

https://medium.com/@matt_11659/flat-out-like-a-nation-sinking-45e5f7bf31e1

Just woke up. What did I miss?

#bitcoin

#austriches

We are in the endgame now.

Yes, it would be anarchy. Not good.

Somewhere there’s a great level of conscious capitalism….i hope?

The more governments lean toward socialism, the more likely they are to adopt extractive institutions—systems that centralise power and wealth in the hands of a few at the expense of innovation, growth, and individual freedom.

History shows that inclusive institutions, which empower broad participation, protect property rights and ensure opportunities for all are the true drivers of prosperity.

When power consolidates, opportunity shrinks.

This is what is happening in parts of Europe and Australia, even though we are democratic capitalists.

Extract, extract and extract some more.

So to run a business or SMSF, one must have a directors ID.

If I log into the connected portal, eg to manage and pay tax for my business, it means I will automatically accept the new privacy policy.

The privacy policy for the new MyID system states the data that’s collected and stored by the government. This includes your

▪️date of birth

▪️address

▪️ID document numbers

▪️photographic images

▪️IP address

▪️device type

▪️browser type

▪️signatures

▪️biometrics

▪️racial/ ethnic origin

▪️political opinions

▪️religion

▪️sexual orientation

▪️criminal history

▪️ health / genetic information

GFY.

Couldn’t say it better than Phillip Soos on X:

BREAKING: Australian private sector

Miss on GDP, just 0.3% in the Sept quarter, annual growth falls to just 0.8%

Private demand has now been flat for six months. Only thing keeping the economy afloat is public spending.

https://www.afr.com/policy/economy/growth-unexpectedly-slumps-to-0-8pc-despite-government-spending-surge-20241204-p5kvnn

Energy policed so bad, they’re literally leaving the lights off.

https://newsletter.doomberg.com/p/power-down-blunder?r=d7ymf&utm_medium=ios&triedRedirect=true

The look your grandma gets when she brings out the butter

This is Bill.

Bill has bitch tits.

Why the f*ck does anyone listen to this gimp about health?

Look at the declines in scientific, technical, construction and manufacturing jobs.

Yep, some of this can go off shore and should - that’s when free-ish trade and capitalism works well.

But we know this isn’t the case in Australia.

>40% of jobs created since 2019 are government.

We are flooding the country with either immigrants deemed “unsuitable” for most jobs or fake students.

Then, most of construction are on poorly managed government-funded infrastructure gigs.

THEN, there’s the NDIS debacle.

In light of no serious opposition to this crap, I fear the eventual crisis that will truly nuke the ponzi ….

Sure. Subjectively I’d guess it’s not the same.

“Biggest spastics in the degenerate swamp” - why does this sound like a challenge to me?

I could have a crack at this title for funsies 😂

#nostriches and #austriches

Did you know China owns:

- 7.8 million hectares of our land

- 40% of our pubs.

- 34 of our hospitals

- Major stakes in the largest coal mining companies.

- 3rd-largest position in Australian water.

- Major energy players like Energy Australia and Alinta Energy.

- 38% of our dairy industry

- All of Tasmania’s cherry industy

- Massive amounts of empty residential properties

Who’s really calling the shots?

No wonder Xi thinks Albo is a “handsome boy”.

Have another terrific day in Oz.

I found it slow and the bugs annoying.

Damus is current fave.

Common commentary down under:

“I was at (insert cafe/shopping centre/restaurant) and it was packed. People aren’t suffering yet…” blah, blah, yadda, yadda

My hunch is that there is actually two sides to this coin:

- Low debt Gen X and Boomers are in the sweetest spot in history. All assets, including cash (yes, that dirty fiat y’all despite), is producing a return. They’ve had a massive run up in asset prices, if they aren’t levered to the tits, then disposable income is fine

- low asset Millennials and younger who don’t see hope in ever owning a home live for the moment. Yeah the probably DCA low amounts into something, maybe YOLO into bitcoin or have a crack at some sort of 💩coin….but there week to week pay checks are for having fun now. Fuck it, you know?

So we still have some busy consumer spending. Even though we are in the midst of long per capita recession, severe decline in “living standards” and an inflationary shit fight.

Not sure what else to say here - just thinking out loud.

Thoughts #austriches ?

Peace is….

Discussions about compounding with a pour over (for me) and a matcha (for her), Japanese cafe in Aus and a walk.

#investing

#bitcoin

#coffee

nostr:npub1cw9lrvyu72t9wfzmxkpq4k8r6nghpu3n7042tmu6nc28ur6td25q8mpsr3

I’m not so sure the resistance is strong.

It’s going to take a lot more to reverse the populism tactics of the two main parties (uniparty).

I question if there’s enough people who realise the growing lack of liberty.

I see dissent for government overreach here and X, maybe a few mates…but the majority?

Safety first Aussies are like:

Ban socials! It’s bad for the tildrenn

More taxes for businesses and high earners! Their earned money should be taken away and given to “green energy” and other such nonsense

All crypto is a ponzi! Our investment properdeees are the most valuable in the world and, by the way, tax loop holes have to stay plz

But wen 100k?