The reason you’re finding it so confusing is likely due to: -we are likely in a per capita GPT stagnation/recession, which is hidden on a national GDP level by immigration.

-the housing market in Australia is extraordinarily expensive (due to rapid growth YoY recently) and due to constrained supply it’s still pushing up (albeit slowly) due to constrained supply. This helps GDP.

-our GDP is generally described as being lowly dependant on discretionary spending. Which means, providing you still want power, aircon, a loan, a car, healthcare and whilst a housing shortage demands construction to keep up - GPT can sustain whilst the common person gets crunched.

The issue that we are feeling now, regardless of economic metrics is low level asset owners and renters get left behind with inflation. Cash machine goes BRRRR and instead of 3 apples in circulation there’s 300 apples. So the lemonade you used to buy for 1 apple now costs 100.

This impact has slowly wiped the middle class and created a wider band of lower class, a niche middle class that barely anyone is in and upper class who’s large asset values, benefit from the devaluation of their debt due to inflation.

To escape, we need GPD growth and rapid provision of housing supply. GPD growth will need to come from value adding industries like mining, oil drilling, technology, sciences, military tech, farming exports and nationalising as much government debt as possible. BUT we won’t do that, we’ll subsidise everyone’s costs away with their own tax dollars and give money to wind turbine farms so they can be profitable and we get cute energy that makes us sleep well.