How does someone earning $25 an hour as a casual spend on cars, housing and all the other stuff which keeps the economy going?The problem is not the gap between the top and the bottom!!!
The problem is that a low income Aussie believes they are on the bottom, when they are actually in the top 10%.
How does someone earning $25 an hour as a casual spend on cars, housing and all the other stuff which keeps the economy going?
The thread's about the state of the economy not how to make China wealthy.
A big part of the issue there is that renting in Australia is rather crap compared to other places. Lots of restrictions, substandard accommodation and a lack of security for the tenant being the big issue there hence most want to buy. Obviously there are good landlords but there's plenty of shockers.The whole premise in Australia, is that wealth is totally dependent on owning a house and currently is measured by the ability to own a house in either Sydney or Melbourne.
True but it's "at the street level" so I'm making an assumption that on an Australian forum most contributors will be spending more time "on the street" in Australia than in some other country. Hence my assumption that we're talking about the Australian economy unless stated otherwise.The thread title doesn’t state “Australian economy” or “Queensland’s economy”or “west townsville economy” etc etc.
It just says economy, so to me that’s the global economy, because I don’t really see a differences between a guy losing his job in Sydney to a guy losing his job in Los Angles, London, Shanghai or Bangladesh.
I know what you are saying, but I will give you an example of something that has happened near my place.A big part of the issue there is that renting in Australia is rather crap compared to other places. Lots of restrictions, substandard accommodation and a lack of security for the tenant being the big issue there hence most want to buy. Obviously there are good landlords but there's plenty of shockers.
Regardless of the details however, it remains the case that we're going backwards if someone doing a basic job could buy a house, car and whatever 50 years ago but someone in the same situation can't do the same today.
That so many have housing, utilities and so on taking such a huge chunk of their income, and their income itself is casual not a permanent thing, explains the reluctance or outright inability to spend on non-essentials which is now impacting the economy.
True but it's "at the street level" so I'm making an assumption that on an Australian forum most contributors will be spending more time "on the street" in Australia than in some other country. Hence my assumption that we're talking about the Australian economy unless stated otherwise.
It's a fair point though, it's not specifically stated.
To clarify, my comments are in relation to Australia as a whole and not to any particular town or state unless specified otherwise.
Agreed but the difficulty is a political one. Lots of people who will stand in the way.If you removed housing from the equation, most people have never been better off. Maybe the Government, should look more closely at building social housing, in a joint ownership model.
I certainly agree that from a national perspective there's not a lot of logic in having ~40% of the population living in two places given the size of the country.I know not everyone wants to move, to where housing is affordable, but it will never be possible for everyone to live in Melbourne or Sydney.
Agreed but the difficulty is a political one. Lots of people who will stand in the way.
Lots of buyers / renters want a house on a decent size block in the suburbs.
Lots of developers and others who want to build 50 story buildings full of 1 bedroom apartments which are built for investors to maximise profit, they're not built with those living in them in mind.
Lots of existing owners of both developed properties and undeveloped land who will resist any move to bring prices down to more sensible levels.
And so on. Trying to keep everyone happy is holding us back economically in my view. Sometimes, well you just can't do that and someone has to take the hit.
I want to live in a world where we look at other countries the same as we currently look at other states.
Ofcourse Queensland being a state rather than an independent nation doesn’t stop the companies that control production shipping the produce to who ever pays the most.
Who doesn't ?
It just won't happen.
Everyone looks after themselves, Trump is a prime example.
As long as there are different ideologies in the world, your Nirvana is impossible.
True on a global scale but not everyone plays the game, and for the west it means destruction of jobs and wealth while 1.5 billion chineses and a lot of mid tier countries benefitsExactly. Subsidizing an industry just means we're not using the most efficient path to an outcome. By removing the subsidy, we immediately become more productive.
Productivity improvements look scary short term, but the longer term move to more productive industries can only be good. This is ultimately responsible for raising living standards across the globe.
True on a global scale but not everyone plays the game, and for the west it means destruction of jobs and wealth while 1.5 billion chineses and a lot of mid tier countries benefits
Good in a global term as long as you are not American European or Australian and used to be employed.
Nice to see even now some people still believe the speech
Now tell that to australian companies selling goods on the internet with lowest parcel postage fee at 9.95aud fighting chineses able to send free postage goods for 1aud
True example based on a canned business idea for 3d printed widgets i had 2y ago
Sure i can try being more efficient, but our welfare system, taxes, multi tier governments are not...
You can NOT have it all
Who doesn't ?
It just won't happen.
Everyone looks after themselves, Trump is a prime example.
As long as there are different ideologies in the world, your Nirvana is impossible.
It’s moving in the right direction, as I said the trend is towards trade and globalism
It’s moving in the right direction, as I said the trend is towards trade and globalism
Suppose that we both run competing take away outlets.If China was a democracy I would be more inclined to agree with you.
Nobody would seriously suggest we ought to do that. We never did it and few if any ever have.If Australia were producing EVERYTHING it needed, standards of living would drop way too much.
If China was a democracy I would be more inclined to agree with you.
As it is, they steal technology which robs other countries of the ability to compete on a level playing ground and a lot of their wealth goes to their military which is not there for the benefit of us.
Whether you have your eyes closed or not, one day they will be a military threat and we will have to deal with that and it won't be easy.
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