Entrepreneurial businessman Dick Smith has forecast a bleak picture for Australia, warning young people won’t be able to get jobs as Aldi undercuts the rest of the market.

Australians would also become more obese with cheaper and less products on the market.

He said there was no doubt Aldi would come out on top, but as the other supermarket chains scramble to keep up, workers will lose their jobs.

There was little hope for the future of traditional supermarkets, he warned.

‘Our young people simply won’t have jobs, you’ll end up like America, where they have 50 million people on food stamps and that’s why we have Donald Trump,’ he told Tom Elliott.

‘The main reason (Coles and Woolworths) are more expensive is because the employ a hell of a lot more people.

‘The reason Aldi is so cheap is because they don’t share the wealth.’

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