Can
you recall ‘bad times,’ or imagine
what things would have been like back then?
The Australian
economy has performed remarkably through every
major crisis that the world has thrown at it
over the past 20 years, including the GFC!
For Australians who hit the workforce post-1991 – and
who are now nearing 40 – a recession,
or economic bad times, are issues that they
might have heard spoken about, but will have
never experienced for themselves. And this
is the group who have their hands on the tiller
in every key sector of our economy.
You might be part of this privileged group
that is the backbone of our economy, and for
whom economic trends have only ever moved in
one direction – upwards.
In many ways it’s a blessing. Maybe
that’s one reason why Australians appear
such a happy and congenial bunch to the stressed
out tourists and business visitors who come
here from overseas.
According to CommSec equities economist Savanth
Sebastian, "Without a doubt, Australia
currently has the strongest economy of any
developed or advanced nation.”
Key reasons include:
- Manufacturing is expanding
- Housing construction is lifting
- The unemployment rate is falling
- Confidence levels are consistently
high
- Public debt levels are healthy
- Economic growth is heading back
to trend.
After almost two decades of uninterrupted
economic growth, is there a risk that we become
complacent as a country, and don’t appreciate
how good we’ve got it, and the incredible
advantage we have as a result? Is there a risk
that we all get lulled into the warm feeling
that life in Australia is the best in the world,
and that bad things never happen?
Yes, we believe there is such a risk. However,
the opportunity is much greater.
In our view, all you need to do is simply recognise
what amazing good fortune we have to be in ‘the
lucky country,’ and then turn it to good
use. In other words, appreciate our fortunate
position, and then capitalise on it.
If you would like to learn more and discuss
how McCarthy Group can assist you, click
here.
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