this post was submitted on 28 Mar 2024
189 points (98.5% liked)

Australia

3607 readers
45 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

Banner Photo

Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone

founded 1 year ago
MODERATORS
lodion@aussie.zone
Fluid@aussie.zone
bestusername@aussie.zone
eatham@aussie.zone
189
We compared the finances of 30-year-olds now, to 30-year-olds 30 years ago (www.abc.net.au)
submitted 7 months ago by Nath@aussie.zone to c/australia@aussie.zone
34 comments fedilink hide all child comments
 

I'm sure this whole article comes as a shock to nobody, but it's nice to see it recognised like this.

you are viewing a single comment's thread
view the rest of the comments
[–] Nonameuser678@aussie.zone 35 points 7 months ago (1 children)

Fuck this was depressing to read. Validating though.

[–] WhatAmLemmy@lemmy.world 19 points 7 months ago

Ya wanna know what's even better? Most of the stats in this piece use averages. Averages are basically fake news when wealth inequality explodes, which it has over the last 30 years — if the top 1 million Australians have $1M, but the other 23 million Australians have $0, the "average Australian" has approx $42k — the situation is significantly more dire than this analysis makes it appear.

Take this article that focuses on the growth in the top 5-20%, even though the richest 1%, 0.1%, and 0.01% have made much larger gains relative to each other.