An investor has vented his frustration at watching Australians being forced to put in more hours of work and neglect time with their families so they can stay afloat.
Entrepreneur Adam Hudson said everyday life has become a constant hustle for millions of Aussies during the cost-of-living crisis.
‘We’ve turned our houses into hotels, we’ve turned our cars into taxis and our bodies into porn – because we have to,’ Mr Hudson told the Sonia and Simon Podcast.
‘Everybody’s running an Airbnb, everybody’s driving Ubers.’
Mr Hudson said Australians were listening to podcasts and trying to better themselves so they could make more money, at the expense of spending time with their children.
The investor made the sensational claim that we’ve all been fed a ‘lie’ that inflation is necessary for a healthy economy.
‘They don’t realise it’s because our money’s broken,’ Mr Hudson said.
‘What would it be like if a house today was not going to be worth twice as much in 20 years? We could all breathe, we could all relax.
Entrepreneur Adam Hudson said everyday life has become a constant hustle for millions of Aussies during the the cost-of-living crisis
‘What if our carrots and apples stayed at the same price? We’ve been sold this lie that inflation is necessary.
‘The Aussie dollar is becoming worth less and less.’
Social media users agreed, saying they were being priced out of Australia.
‘I see no way out in Australia, our kids won’t be able to live in the future,’ one woman said.
‘We are being boiled alive, like frogs in a slow cooker,’ another said.
One man simply wrote: ‘Australia is cooked.’
While annual headline inflation in the March quarter eased to 2.4 per cent, services inflation is still high at 3.7 per cent, Australian Bureau of Statistics data shows.
The RBA recommends an inflation rate within a target band of two to three per cent on the belief it encourages sustainable economic growth while preserving purchasing power.
Mr Hudson said Aussies were listening to podcasts and trying to better themselves so they could make more money, at the expense of spending free time with their kids
But Mr Hudson questioned the need for ever-increasing prices.
‘What it effectively means is that the buying power of our dollar becomes less and less with every single passing minute because they’re putting more and more money into the system.’
While inflation can be caused by printing more money, known as quantitative easing, post-Covid inflation in Australia is largely driven by external factors including supply chains and energy prices.
The RBA is expected to lower the interest rate to 3.6 per cent on Tuesday, in a sign it believes inflation is under control since runaway Covid-era highs.
Despite inflation returning to the RBA’s target band and real wages outpacing inflation since late-2023, data suggests living costs have eaten away at the benefits for workers.
Employee living costs increased at the same rate as the wage price index in the year to March, according to the Australian Bureau of Statistics.
Put differently, workers paying off a mortgage or struggling with high rents effectively enjoyed no wage increase once living costs were accounted for.
While wages continue to outpace inflation, data suggests living costs are preventing workers from reaping the benefits (stock image)
Comparison website Finder recently found 59 per cent of Australians are experiencing financial stress while 37 per cent have under $1000 in their savings accounts.
Mr Hudson is one person in a wave of Aussie influencers who have packed up for a better, more affordable lifestyle overseas.
He recently moved from the Gold Coast to Cyprus, an island country in the eastern Mediterranean Sea.
While rents, he said previously, were comparable in his adoptive city of Limassol, the overall cost of living was remarkably cheaper.
‘As much as I love Australia, there’s a certain point at which the price is too high and the treatment of citizens is just too messed up,’ he wrote.
‘For me, that threshold has been passed so rather than complain, I left, and when I did, I found that I am not alone, and Australia is not the only country that’s lost its way.’
