Australia’s ponzi economy now a zero sum game

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Slowly but surely, Australia’s commentariat is coming to the conclusion that Australia’s population ponzi economy is failing to deliver rising living standards for the incumbent population.

Over the weekend, Ross Gittins delivered the following harsh assessment:

The greatest single factor driving household disposable income is income from wages…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.