Australian Job Losses

[Uncle Festivus]

Australians will eventually have to make a choice about living standards - do we continue to be part of the global level playing field ie the so called free trade agreements or do we do what every one else does ie call it free trade but subsidise via the back door anyway?

Abbott is making big talk about a free trade agreement with China. I'm not sure we will get the better deal out of it.

And it's not about raising the living standards of other countries - it's all about lowering ours to meet theirs in the environement of global labour availability/arbitrage as per FxTraders' post?

Boiling the frog syndrome? Perhaps we need another recession that we "had to have" to force the issue(s)?

 

[ROE]

I dont know why people wanting ever growing economy

its good to have recession once in a while it reset wages grow, house price and a whole raft of
other things so the next generation has similar benefits

making stuff more expensive every day lock future generations getting the same stuff we get last generations.

 

[Knobby22]

I dont know why people wanting ever growing economy

its good to have recession once in a while it reset wages grow, house price and a whole raft of
other things so the next generation has similar benefits

making stuff more expensive every day lock future generations getting the same stuff we get last generations.

Only if you a teacher, nurse or similarly protected and unionised job. Those of us in the private sector dread a recession as do people trying to enter the workforce.

If you lose your job or can't get one while you are young, you may never get a good one again. Even if you do survive you can expect no rise in pay along with living expenses and the possibility of being asked to work part time till things pick up.

 

[Uncle Festivus]

Only if you a teacher, nurse or similarly protected and unionised job.

Protected??

 

[McLovin]

Only if you a teacher, nurse or similarly protected and unionised job. Those of us in the private sector dread a recession as do people trying to enter the workforce.

If you lose your job or can't get one while you are young, you may never get a good one again. Even if you do survive you can expect no rise in pay along with living expenses and the possibility of being asked to work part time till things pick up.

Which is understandable, but the GFC was in no small part caused by central banks trying to stage manage the economy, so that mild downturns were avoided which encouraged increased risk taking and finally blew up. Serenity now; insantity later. They backburn the bush to prevent big bushfires, they don't water it to keep it nice and green. You've got to let the creative destruction of capitalism work.

A short, sharp recession where unemployment spikes in the 8%s, is better than the long drawn out downturn and now anemic growth we have had instead, surely. Like anyone else, I'd much prefer an economy that never stops growing but that's not possible, so surely it's better to opt for the least bad option.