How can people say we are so prosperous when, because of big business-directed mass immigration over the last few decades, it now takes two above average salaries to own a modest 3 bedroom house, the same type of house that our parents could easily afford and raise a family in on one average salary. Or put another way, 20-30 years ago, an average house required 40 hours of work per week by one member, the same house now requires about 50 hours by each partner - so good luck having any kids. We are working longer for less so that the wealthy can become more wealthy.

Having material possessions (50 inch plasma, ipads, etc.) has never made humans happy and content. It's faith, family and property that makes humans happy - that all three of these elements are waning is the key to understanding the collapse in Australian morale.

progressive pat,

There's not too much "modesty" abounding these days in the procurement of starter housing. Where once a couple would have started out in a typical three bedroom, one bathroom house, perhaps without carpeting, with homemade curtains, etc. - these days houses are decked out to the nines - and they are huge. Add to that that an average of two cars and all the mod cons a house can hold, mostly on credit - and bingo! - you have a recipe for a financially stressed couple who both have to work to meet their debt obligations.

Material possessions, as you rightly point out, never brought anyone extended happiness. For people to escape the debt trap and make more time for themselves and their families, they have to take control of their own destinies and reject the notion of conspicuous consumption.

We are "prosperous". In fact, we are spoiled rotten. But we need to see what we have, stop whinging and start thinking of ways we can maximise our life experience without allowing ourselves to be lead by the nose by the gospel according to "growth".

"The reality expressed by many delegates, a lot of whom were conservatives, is that the world has changed drastically since the turn of the century and will change even more rapidly as the digital era creates more globalisation and innovation."

Utter Rubbish.

Globalisation is rapidly disappearing as the ponzi-central banking, credit (debt) binge reality really starts to hit home globally.

The world has been on a credit binge for 30 years, primarily to pay for cheap energy to drive the mantra of 'growth', its over, do you get it, and we are now in a world of diminishing returns.

"This attitude is a very sensible one in a troubled financial world, but it will not stimulate economic growth."

That's exactly right, it will not stimulate economic growth, Everald, your entire argument is flawed.

China is about to implode economically and Australia is about to feel the results of their 'hard' landing.

As to Glen Stevens knowing anything real, his policy actions leading up to the GFC show his complete incompetence.

I have read some stupid articles on OLO but this one is up there with the best of them.

Just a couple of points.
I fail to see how we have a "legitimate entitlement" to a job and a home! These are not entitlements, but are the result of individual hard work and application.

I certainly did not vote for a government "whose prime responsibility is to create a level playing field". Rather, one which will uphold the constitution and the law. Often I find that the cant about the much vaunted 'level playing field' is just code for wealth redistribution.

Education and a police force are merely 'tools' that can assist in promoting the above.

The tired old tirade against 'consumerism' etc is once again a matter of individual choice. We are all free to spend our money on whatever we like. A plasma tv and iPads or the latest 'cool thing' are never forced upon us, other than those things forced upon us through some form of govt regulation (digital tv changeover, bicycle helmets etc).

As Poirot observes, and I have also noticed, getting into a new home decked out with everything results in a huge debt. However, this is also a matter of individual choice.

I watch with interest the development of Joe Hockey's comments with regard to this 'entitlement' culture some in the community have developed.

I'm happy.

Just saying.

What a strange article. Who says Australians are unhappy? Happiness is a choice anyway to start with.

And this is so contradictory...

'They were asleep at the wheel when their poorer neighbours conquered them.'

In the next breath...

'How do we cure this decadent national illness when too many of us spend our days worrying obsessively that the carbon and mining taxes may downgrade our lifestyle...'

So which is it; Do you propose we remain diligent and look to improve, or are we to sit back and enjoy out happiness and 'stop worrying'?

And who is doing all this worrying anyway?

Sorry I just cant relate to this article at all.

I see again though we have Poirot and Squeers lamenting that people have two cars and consume, and relating that's why people are unhappy. The only people I see who seem unhappy are the people without two cars (By choice of course) looking at the people with two cars and deciding those people aren't happy. 'They just cant be! They get to work faster and they don't have to share, how could that make them happy?'

It's really paternalistic and patronising to suggest people who have decided to go into debt to enjoy a lifestyle aren't happy and the debt is their problem and they would be 'happy' if they downsized. It may just be they don't get enough sex or drugs, or... hang on, WHO exactly said they are unhappy in the first place? How do you even know that?

Anyway curtains, ladders, toasters, rice cookers, blenders, TVs are all infinitely cheaper than they used to be. It would be 3 times more expensive to make your own curtains than to just go to Big W and buy the cheap third world labour ones.

"...They get to work faster..."

I dare say they probably do.

I don't really give a toss whether they're happy or not. Why lament that they've got to work for such long hours or devote more time to some mindless grind because they have chosen to have "all" the stuff and its accompanying debt at once? Why not practice a little delayed gratification in return for a less harried life rather than whining about how hard they're done by?