The McKinnon Index shows that we must focus on a material, concrete political programme based on peoples' daily needs and aspirations based on collective action.

They are expressing profound alienation from a system that denies them housing, a decent career and stability, channeling frustration into personalised conflict, doom scrolling and despair.

Young people (18-24) are more trusting of government and public services, yet have lower satisfaction with democracy and show disturbing levels of political rupture. The reality is that most young people have been betrayed by neoliberalism and no longer believe the system can provide a good future.

The neoliberal system diverts public confidence away from accountable, elected power towards insulated administrative bodies. The AEC is a good, effective institution of course. But trust shouldn't flow from being non-political and unaccountable to the people.

Trust in elected politicians (Federal, 35.9%) and parties (31.2%) is abysmal, yet trust in the unelected Australian Electoral Commission (70.2%) and independent regulators (56.7%) remains strong. This is a victory of neoliberal depoliticisation.

This gap confirms that the system is failing to meet the material needs of the majority, particularly the young and those outside major cities.

Oh, that's right. The Banking Royal Commission "exposed widespread misconduct at Westpac, including charging fees to deceased customers, illegal fees, and filling out loan documents for customers."

Those property investors mostly aren't "mum and dad investors". They're predatory professional investors with portfolios of ten, twenty, fifty houses.

1% of investors own 6 or more properties, and this 1% holds nearly 25% of all investment properties.

www.theguardian.com/australia-ne...

Structural reforms, like a wealth tax, are essential to dismantle this disproportionate concentration, and to make housing fairer.

The focus should be on neoliberal policies and the billionaire-class. In 2023, Australia's 159 billionaires held 3.2% of all household wealth, representing just 0.0007% of all adults. Overall, the wealthiest 10% captured 45% of the increase in total wealth between 2003 and 2022.

For example, the highest 20% wealth group owns over 80% of all wealth in investment properties and shares. This isn't intergenerational conflict, it's just plain hoarding by the ultra-wealthy.

Wealth accumulation is turbocharged by financialised capitalism and policies that favour assets over work. From 2003-2022, the growth in assets like investment properties were the main drivers to rising wealth inequality, precisely because these assets are concentrated in the hands of the wealthy.

Millennials and Boomers have more in common with each other than they do with the handful of plutocrats and property neo-feudalists that own vast 21st century estates.

This extreme structural concentration, driven by decades of policy, is the true barrier to widespread economic security across all age groups.