Even prior to the COVID-19 pandemic economic growth within Australia has been decaying for decades despite:

• The best efforts of both sides of Government
• The best efforts of the RBA
• Significant increases in household debt &
• Consistent population growth

Since 1988, trend growth had fallen from 3.706% to 2.02% in 2021 despite the best efforts and all the power of the RBA & all layers of Government.

Prior to COVID this trend was still from 3.428% to 2.6% in 2020.

With an increasingly aging population, household debt maxed out and interest rates at all but 0%, all the money currently being given to the market should be enough to turn it around but it isn't.

So a new direction is needed to avoid:

• A decaying way of life if GDP per Capita falls
• Retirement savings degrading for those retired people compounding decreasing spending
• Terrible economic environments for younger generations
• A catastrophic distrust in the value of money
• Hyperinflation
• Or worse, national weakness thanks to a crumbling, heavily indebted economies

N.B. Sadly this should be a complete doomsday scenario list but it is looking less and less crazy by the day for Australia given the current economic fundamentals.