Millions of Australians “suffer” from “population ponzi scheme”

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Michael West has posted an excellent video report shredding Australia’s “population ponzi scheme”, which is “great for landlords” and “terrific for big business”, but leaves ordinary Australians worse off:

Edited Transcript:

Without the Deluge of migrants – of 5,000 people a day – entering this country, and the effect on demand just making the economy bigger, we would be in a negative territory recession.

Australia's GDP

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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.