Why citizens in such a wealthy country are angry and depressed

The more their quality of life improves, the sadder some Australians seem to become, as Alan Austin reports.

TWICE IN TWO WEEKS, this column copped a jolt from the Australian Bureau of Statistics (ABS) — the hallowed institution we rely on constantly for economic and demographic information.

We love the ABS. Its countless releases over the decades have all been timely, comprehensive and accurate. So why did it bother us?

Well, as regular readers know, we track all key economic variables and have reported that most results for 2025 have been highly positive, both historically and relative to comparable economies.

Bad news on Australia’s economy at last — thank goodness!

The mainstream media warmly welcomed Australia’s latest economic data.

Housing in focus

Construction of dwellings is a critical indicator, given the elevated pressure on governments to provide houses for new home buyers and alleviate homelessness.

So we were hanging out for the December construction numbers due last Wednesday, which we expected would show continuing progress. We were surprised when the ABS website asserted: ‘Construction work done falls in December.’

As we analysed the data, however, it emerged that despite a minor blip in the December quarter – down just 0.12% – the results for the full calendar year were excellent.

As IA reported last September, total construction for the financial year 2024-25 at $298 billion continued a three-year surge, but was still below the all-time high in 2012-13 recorded during the mammoth reconstruction effort following the Global Financial Crisis.

When we finally crunched Wednesday’s numbers, it turned out calendar 2025 was the best year ever on total construction, beating even 2013. See chart below.

A figure caption for your reading pleasure

So why the negative headline? Yes, the December quarter was a smidgeon below the previous two quarters. This is not surprising. Construction decisions are made each quarter by tens of thousands of corporate executives, small business operators and local, state and federal public servants. So naturally, output fluctuates.

There have been three quarter-on-quarter reductions in the last three years, but all were well compensated by the increases before and after.

That was actually the second such experience in February with the ABS. Two weeks ago, IA published this analysis of consumer spending showing outlays on luxuries, including cosmetics, jewellery, beauty salons and dining out had surged in 2025 to a record 22.8% of all retail spending. That was further confirmation that the Coalition’s cost-of-living crisis was over and living standards were steadily rising.

Disturbingly, the ABS release that day was headed, ‘Household spending down 0.4% in December’. The data once again was perfectly accurate, but the media release wording appeared chosen to elicit doom and gloom.

Continuing false narratives from the national broadcaster

The ABS is not alone. Unfortunately, other agencies are much worse. ABC News has developed several disturbing behaviour patterns that impact citizen happiness and social harmony.
The first and most obvious one is its obsession with the internal affairs of the Federal Coalition.

As most psephologists have observed, the Coalition parties with 41 representatives in the 150-seat lower house cannot impact any legislation for at least the next two terms, more likely three and possibly four.

Luxury spending boom exposes newsroom lies about the economy

The latest consumer spending data confirms the economy is managed far better than the media acknowledge.

The Shire of Wagait in the Northern Territory has five councillors serving its population of 481 residents. Those councillors will make more decisions over the next decade impacting the lives of real Australians than anyone in the Federal Liberal or National parties, as will the councils of all 536 other local administrations.

ABC News should provide coverage of Federal Coalition MPs commensurate with that of the elected officials serving Wagait.

More disturbingly, ABC News routinely broadcasts falsehoods about Australia’s economy, as IA has observed here, here, here and elsewhere.

A segment on The World Today last Thursday titled ‘The battle to tame inflation’ began thus:

“Battle lines are being drawn between Treasurer Jim Chalmers and his new opposite number, Tim Wilson.”

That is pure drivel. Those who read Jim Chalmers’ daily transcripts know he has barely given Shadow Treasurer Tim Wilson a passing thought. The first time Wilson attacked Chalmers, he was forced into a swift retreat.

The ABC quoted Wilson saying:

“Inflation reflects what happens when the Government [spends] too much... They’re pouring more debt petrol on to the inflation fire.”

That is untrue. The ABC wants listeners to forget that inflation stayed above 8% for all but two quarters of Malcolm Fraser’s seven years. As recently as 2022, inflation surged to 8.44% under Coalition policies. Today’s 3.76% is nowhere near being an “inflation fire”.

Facts from the coalface confirm poverty is easing

As the 2025 report card on Australia’s economy is filled in, the good news is outweighing the bad.

Residents richer than ever now want to destroy the joint

As routinely reported over the last three years, Australia’s economy has surged further ahead of the rest of the world with each monthly or quarterly data update. No other economy has enjoyed such sustained low jobless, low inflation, moderate interest rates, steady GDP growth, low tax rates, high wealth per person and top credit ratings.

With the Aussie dollar now 10% higher against most currencies than it was just a few months ago, overseas trips henceforth will be that much longer and more luxurious.

Few consumers of Australia’s mainstream news bulletins seem to know these realities. This is a great pity, because this undermines confidence in the nation’s institutions, crushes optimism for the future and diminishes enjoyment of life right now.

This was reflected alarmingly in the latest survey results from political consultancy firm Redbridge.

Voters were asked:

‘Which of the following statements best represents your view about the political system? Minor change, major change, it doesn’t need any change, or burn it all down?’

Disturbingly, 15% of those polled said “burn it all down”. Why are those folks so miserable?

In hopeful pursuit of harmony, IA wrote to the Stats Bureau last week to query its choice of heading for the December construction report.

It replied immediately and cheerfully with:

‘Hi Alan. Thanks for your feedback, we'll note it for next time. Best, ABS Media.’

Now, who can say fairer than that?

Alan Austin is an Independent Australia columnist and freelance journalist. You can follow him on Twitter @alanaustin001 and Bluesky @alanaustin.bsky.social.