For years I have lambasted Victoria’s ponzi economy, which relied far too much on extreme immigration-fueled population increases to drive growth. This was always unsustainable and delivered falling living standards for incumbent residents in the pre-COVID years.
Victoria’s immigration-driven population growth was extreme.
Anyone that disputed these facts only needed to look at the below charts showing Victoria’s sluggish export growth, booming imports, and its sharply deteriorated trade balance:
