Would you rather get poorer in Sydney or Melbourne?

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As Leith described so beautifully this morning, thanks to crazed levels of immigration the denizens of Victoria have been trapped in a whirring rat wheel economy for a decade, running full tilt while sliding backwards:

Domainfax has produced a delightfully Seinfeldian take today on why Sydney should compete to occupy the same rodent trap:

My Sydneysider friends, we have a problem, and its name is Melbourne. I know we see it as that funky, fun-sized city that compensates for its unpleasant climate with groovy basement bars concealed in charmingly desolate laneways, but things are getting serious down south.

Tuesday’s census numbers reveal that Australia’s perennial second city is a mere 338,780 souls away from taking our No.1 spot. And that, like my last terrible attempt at a hook turn, is far too close for comfort.

The latest census data has been collected and analysed. Here’s a snapshot of Australia shown as a group of 100 people.

Melbourne is a city so uppity that it seriously believes it has a “Paris end”. This is a city that’s been home to the National Gallery of Victoria since 1861 even though Victoria has been a nation for a grand total of zero years.

They’re more desperate for the top spot than a St Kilda fan (Google the reference, Sydneysiders), and they’re not going to give up until they get it.

And while we tend to view Melbourne benevolently, like the indulgent older sibling that we are, its residents despise Sydney and all we stand for – things like leisure, the outdoors, casual dress, fun, and men who don’t bother to grow moustaches, let alone wax them.

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And on it goes.

While the piece by Dom Knight is satirical it just ain’t funny. This topic needs a sledge hammer:

Sydney is already suffering severely from excessive immigration having barely lifted its standard of living in a decade either. Add the externalities of house prices, infrastructure and clogged services provision and Sydneysiders are also going backwards.

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The question that Dominfax should be hammering away at following yesterday Census, holding our macro managers to account, is which city would you rather get poorer in?

That it refuses is further proof, if any were needed, of its horribly corrupting reliance upon real estate advertising at the expensive of the nation.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.