In this investment podcast, Nucleus Wealth Senior Financial Adviser Samuel Kerr, Chief Economist Leith van Onselen, and Chief Strategist David Llewellyn-Smith gave an update on the state of the Australian economy that the new government is receiving.
Topics on the agenda today:
- Current economic conditions superficially good (e.g. best labour market in generations).
- Outlook poor due to rising inflation and interest rates.
- Cost of living pressure biting (e.g. petrol, rents, food).
- Lots of factors out of Labor’s control (international re. inflation, RBA re. interest rates).
- Economy set to deteriorate sharply as household consumption dives.
- Labor likely to be blamed when proverbial hits the fan.
- Risks Labor once again being tagged as “poor economic managers”.