How Did We Get Here? Australia’s Economic Reality Explained by Chris Joye
4/27/20261 hr 16 min
Chris Joye is one of the most influential voices in Australian finance — a fund manager, economist, public policy thinker, and weekly Australian Financial Review columnist.
In this conversation, Joye delivers his starkest warnings yet about Australia's economic future. He explains why the Reserve Bank's humiliating policy reversals have set us up for a multi-year recession, how record immigration and government spending have created an inflation crisis , and why we're heading for the worst property downturn since 1991. Joye also dissects Trump's economic revolution in America and reveals why Australia risks becoming "Asia's Ibiza" unless we fundamentally change course.
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Showing 10 of 11Transcript preview
First 90 secondsMark Bouris· Host0:00
Chris Joy, welcome straight to it, mate Hey, man Thanks for coming in Thank you Like, uh, this is a public holiday. We, you know, it's a big couple of weeks coming up. It's been big days every day since, uh, March the 3rd or whatever the date was, whenever the Iran war started. People could be excused for having conniptions right now because they don't-- no one knows what the fuck is going on. It's like brain damage shit. So what it'd be great to talk to you about, and the last time we spoke to you, you, you know, you did exceedingly well in our, in our show. I'd like to talk to you about things like Iran, US equities, Australian equities, interest rates, of course, um, r- any recession going on here. Uh, what's going on in the world, mate? Where, where do you wanna start? Let's talk with... Let's start with America. Let's start with Trump, America, Iran. What's your prognosis on what's gonna happen there, and, uh, and how will it spill back here to Australia?
Chris Joye· Guest0:47
So I think the Iranian conflict, um, we had a- an unconventional view on that, that was it would be cauterized quite quickly. So we're of the view the guts of the campaign would be done by the end of March, and we obviously got a ceasefire in the first week of August, and we positioned accordingly. So we bought hundreds of millions of dollars of assets late March, um- You're talking about bonds now? Mm-hmm Government bonds? Yep, government bonds, um, bank bonds, corporate bonds. And, uh, you know, Trump has had great success in Venezuela. I think he's gonna roll the same playbook with Cuba. Um, they had great success in Iran last year with their strikes,