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In a video posted to his social media accounts on Monday, October 12, the veteran auctioneer compared Australia to a $3 trillion company, arguing that shareholders of a major corporation would demand greater accountability from its chief executive and chief financial officer.<\/p>\n
Panos directed his criticism at Albanese and Chalmers, questioning their professional backgrounds and whether their political experience had adequately prepared them to manage the economic pressures facing Australian households and businesses.<\/p>\n
\u201cImagine BHP or Commonwealth Bank appointing a CEO and a CFO with no proven commercial leadership. Shareholders would go nuts,\u201d Panos said.<\/p>\n
\u201cAnthony Albanese is the CEO of Australia and Jim Chalmers is the CFO.\u201d<\/p>\n
Panos argued that neither man\u2019s career had involved the direct commercial responsibilities associated with running a business, managing payroll, servicing debt or maintaining customer confidence during an economic downturn.<\/p>\n
\u201cQualifications aren\u2019t the same as having commercial scar tissue,\u201d he said, adding that Australians were effectively paying the price for decisions made by their political leaders.<\/p>\n
Panos pointed to rising borrowing costs, persistent inflation, weaker buyer confidence and growing financial pressure on mortgage holders as evidence of the challenges facing the economy.<\/p>\n
He also criticised the government over spending, taxation, regulation and productivity, arguing that these decisions influenced the economic conditions confronting the Reserve Bank of Australia.<\/p>\n
While acknowledging the Reserve Bank\u2019s independence, Panos said government policy helped shape the broader environment in which monetary policy operated.<\/p>\n
\u201cThe Reserve Bank is independent, I get it, but government decisions on spending, tax, regulation and productivity are creating an environment the RBA has to deal with,\u201d he said.<\/p>\n
He questioned whether Australians should accept political leaders distancing themselves from economic difficulties.<\/p>\n
\u201cIf this was a real company, would shareholders accept the CEO and CFO saying, \u2018none of this is our fault\u2019?\u201d he asked.<\/p>\n
Panos argued that the people running the country should demonstrate stronger financial literacy, commercial judgement and an understanding of the consequences of policy decisions.<\/p>\n
\u201cI\u2019m not saying you need to be a billionaire to lead Australia, but there should be a higher bar,\u201d he said.<\/p>\n
\u201cAustralians are shareholders and you know what? We\u2019re all paying for bad management.\u201d<\/p>\n
His comments reflect growing public debate about the cost of living, housing affordability, taxation and the direction of Australia\u2019s economy. However, his comparison between government leadership and corporate management is an argument about political accountability, rather than an established measure of the government\u2019s overall economic performance.<\/p>\n
Panos has built a substantial social media following through videos discussing property prices, auction results and changing conditions across Australia\u2019s housing market.<\/p>\n
His criticism of the government follows earlier warnings about weakening buyer activity and the difficulties facing vendors trying to sell their homes.<\/p>\n
In June, Panos described a particularly difficult day in his three-decade auctioneering career after six auctions passed without a single buyer registering to bid, according to his account.<\/p>\n
\u201cI\u2019ve been doing auctions for 30 years. Today was the worst auction day of my real estate auction career,\u201d he said at the time.<\/p>\n
\u201cI didn\u2019t have a single person register to bid. Not one registration.\u201d<\/p>\n
He warned that the housing market could deteriorate further before conditions improved.<\/p>\n
Panos also advised homeowners who were not under financial pressure to reconsider selling into a weaker market, arguing that vendors could struggle to achieve their desired prices.<\/p>\n
\u201cYou\u2019re not going to get the number that you want,\u201d he said, suggesting that some owners might be better off waiting rather than rushing to sell.<\/p>\n
His latest intervention places Australia\u2019s property market at the centre of a broader argument over economic management, with Panos contending that political decisions have consequences for households carrying mortgages, prospective buyers and business owners.<\/p>\n
While the government and the Reserve Bank have different responsibilities, the debate over inflation, interest rates and housing affordability continues to shape public scrutiny of economic policy.<\/p>\n
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