Via the AFR:
Despite enjoying longer lives, older Australians will have more younger taxpayers to fund their housing and welfare thanks to skilled immigration compared to most other advanced economies, according to findings presented to Reserve Bank of Australia board members this month.
In a challenge to growing anti-immigration sentiment, policy members debated the fact that surging population growth was “in large part” driven by overseas migration of younger people.
This has not only driven demand for house prices and stoked the need for ongoing infrastructure investment, but has also ensured the economy remains dynamic and means it will have the resources of younger workers to carry the burden of older people.
“Australia’s median-age and old-age dependency ratios were projected to increase by less than those of other advanced economies – despite a relatively high life expectancy,” policymakers said in the minutes of their June meeting.
“This would make Australia one of the youngest population within this group of countries.”
Our low-rent education system sucks in the lest talented Indian and Chinese students in the region. Why are they more “dynamic” than local kids?
For that matter, how will local youth have their old age paid for after working all their lives for migration-crushed wages to support the fat, old $%^&s that own all of the capital?
I’ll tell you how. More cheap foreign labour. And they’ll live out their lives in highrise ghettos with ever-falling access to services like education, transport, health and green space.
This is not even remotely controversial. Infrastructure Australia has made it plain in every population build-out scenario for our major cities:
To demonstrate how corrupt this is, consider the alternatives. A few simple policy changes like adding the family home to the pensions assets test, encouraging aged participation or taxing commodities properly would deliver rivers of budget gold to support health care, while a cratering AUD would enable youth to trade like wild things in the global economy.
Why doesn’t it happen? It doesn’t suit the grey rentier class.
So, instead we have the mass immigration inter-generational class war to ghettoise Australian youth so that the aged claw can hang onto its ponzi-gains.
Ching! Here’s to a job well done at the RBA.
