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Talking Politics

spook

Tiger Legend
Jun 18, 2007
11,235
1,460
Yeah, I love a bloke who can’t control himself and busts down doors out of anger and frustration.
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”
- Teddy Roosevelt.
 
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tigertim

something funny is written here
Mar 6, 2004
22,234
786
Unemployment numbers are misleading. There is massive underemployment thanks to the casualisation of the workforce, while many people have simply given up and are therefore not counted.
People who have “given up” are still enumerated in the ABS Labour force statistics.
 

lukeanddad

Tiger Champion
Nov 17, 2008
2,971
210
The main concern for me in the economy is the lack of wages growth. Wages growth has slowed significantly in the last few years whilst inequality of income has increased. What that means is that wages growth is low and what growth there is is skewed to higher incomes.
Wage growth has declined from around 4% to 2% in the past decade. Low, but still ahead of inflation.
 

lukeanddad

Tiger Champion
Nov 17, 2008
2,971
210
People who have “given up” are still enumerated in the ABS Labour force statistics.
One major change in the past 5 years is the sharp growth of the gig economy. I’m not sure how ‘legacy ‘ reporting deals with people on air tasker, Uber and other informal employment mechanisms.
 

22nd Man

Tiger Champion
Aug 29, 2011
4,772
298
Essex Heights
The main concern for me in the economy is the lack of wages growth. Wages growth has slowed significantly in the last few years whilst inequality of income has increased. What that means is that wages growth is low and what growth there is is skewed to higher incomes.
I think the digital / globalisation of so many jobs is starting to really have an impact on wages. Any white collar job that doesn't need direct contact with a customer can be offshore d....so the bargaining power of someone on such a job at day $80k is effectively competing with someone in the Philpines on 25 or 30k.. .. However any job in public sector or ones like health which are taxpayer funded or subsided are less constrained.
 

Sintiger

Tiger Legend
Aug 11, 2010
11,791
828
Camberwell
Wage growth has declined from around 4% to 2% in the past decade. Low, but still ahead of inflation.
Unfortunately so has the Gini coefficient gone up which measures the distribution of income. We are paying more to less and less to more.
Wages growth was more like 4 % in the noughties.
There is too much slack in the labour market and as others have said a lot of underemployment which mask the unemployment figures
 

scottyturnerscurse

Tiger Champion
Apr 29, 2006
4,156
220
The myth of the Libs as good economic managers is just that. They are economic illiterates
Not true. Both parties are subject to external forces they can’t control. Libs just better at selling themselves as the economically responsible mob.
 
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22nd Man

Tiger Champion
Aug 29, 2011
4,772
298
Essex Heights
And don't under estimate the impact of large scale migration....most migrants aren't targeting the highest paying jobs and are willing / easily coerced into accepting under award pay just to secure employment.
 

tigerman

Nank should grow a mullet.
Mar 17, 2003
9,742
1,181
And don't under estimate the impact of large scale migration....most migrants aren't targeting the highest paying jobs and are willing / easily coerced into accepting under award pay just to secure employment.
A large percentage would include the tens of thousands of illegal migrants who have arrived here on bogus 457 visas for jobs which didn't exist.
They all enter the work force and then become permanent residents. I still don't know why there hasn't been a royal commission into it..................but hey they stopped the boats.

 
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tigertim

something funny is written here
Mar 6, 2004
22,234
786
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”
- Teddy Roosevelt.
Cool quote, I might take it over to the Jayden Short thread......
 
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eZyT

Tiger Legend
Jun 28, 2019
11,425
2,422
See there's a NSW right winger MP called

Matthew Mason-Cox?

how strange. He wouldn't look out of place beside Collingwood's version

in the circus either.

he does chinless pinhead very well.

Seems like another oxygen thief whose been drawing pay for 15 years and never actually done anything.
 

spook

Tiger Legend
Jun 18, 2007
11,235
1,460
Not true. Both parties are subject to external forces they can’t control. Libs just better at selling themselves as the economically responsible mob.
Sorry, that's just not true. The parties have different philosophies, different approaches and different results. It's not a coincidence that Labor took over an economy from John Howard ranked 9th in the world after the greatest mining boom in history. The next year the GFC happened, and the Labor Government was praised worldwide for its proactive stimulus package that kept Australia out of recession while the rest of the world struggled. It was hailed as world's best economic practice.
The Australian economy was ranked 3rd in 2008, 1st in 2009, 4th in 2010, 1st in 2011, 1st in 2012 and 1st in 2013. Then the Libs took over: 3rd in 2014, 9th in 2015, 13th in 2016, 18th in 2017, 21st in 2018. The national debt has more than doubled in the past six years. This government is responsible for more debt than every previous federal government combined. They take money from important social programs and cultural institutions and put it in the pockets of rich individuals and corporations. They are both corrupt and incompetent. And liars. But they have the Murdoch press and commercial television and a cowed ABC selling their lies and lying about the alternatives.
 
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tigerman

Nank should grow a mullet.
Mar 17, 2003
9,742
1,181
Sorry, that's just not true. The parties have different philosophies, different approaches and different results. It's not a coincidence that Labor took over an economy from John Howard ranked 9th in the world after the greatest mining boom in history. The next year the GFC happened, and the Labor Government was praised worldwide for its proactive stimulus package that kept Australia out of recession while the rest of the world struggled. It was hailed as world's best economic practice.
The Australian economy was ranked 3rd in 2008, 1st in 2009, 4th in 2010, 1st in 2011, 1st in 2012 and 1st in 2013. Then the Libs took over: 3rd in 2014, 9th in 2015, 13th in 2016, 18th in 2017, 21st in 2018. The national debt has more than doubled in the past six years. This government is responsible for more debt than every previous federal government combined. They take money from important social programs and cultural institutions and put it in the pockets of rich individuals and corporations. They are both corrupt and incompetent. And liars. But they have the Murdoch press and commercial television and a cowed ABC selling their lies and lying about the alternatives.
Yeah but, but, but, the Libs always tell us they're the best at managing the economy.
They lucked in with the economy thanks to Hawke and Keating, the GST was a cash cow, and they hardly spent a cent on infrastructure.
Speaking of infrastructure, what did Howard and Costello spend on infrastructure, what did they build?
 
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shad

Tiger Superstar
Apr 6, 2010
1,617
85
Housing is included in the index. And of course, our mortgages have reduced in the past 5 years
So do you reckon housing, which accounts for upwards of 25% of peoples' budgets has only gone up by 2% a year in the last decade? That doesn't make sense to me.
 

lukeanddad

Tiger Champion
Nov 17, 2008
2,971
210
So do you reckon housing, which accounts for upwards of 25% of peoples' budgets has only gone up by 2% a year in the last decade? That doesn't make sense to me.
Housing is 23% of the 'basket'.

Rates have moved from ~9% in '08 to <5% in 2019. So, if you could borrow $500k back then ($3.9k/mth repayment for interest only), you can afford $900k now. In addition, house prices have come off in the past two years by ~15% - from admittedly a ridiculous level
 
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Giardiasis

Tiger Legend
Apr 20, 2009
5,573
133
Brisbane
Low inflation is a function of a stagnant economy. Our economy would be going backwards (recession) were it not for one thing: immigration.
The greatest period of wealth creation in human history, which occurred during the 1800s actually saw price deflation. The idea that we are currently experiencing low inflation is a complete myth, have you not seen what has happened to asset prices such as houses and stocks? Inflation is an increase in the money supply relative to the demand for money not bogus government concocted CPI figures.
 
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HR

Tiger Superstar
Mar 20, 2013
1,519
175
Sorry, that's just not true. The parties have different philosophies, different approaches and different results. It's not a coincidence that Labor took over an economy from John Howard ranked 9th in the world after the greatest mining boom in history. The next year the GFC happened, and the Labor Government was praised worldwide for its proactive stimulus package that kept Australia out of recession while the rest of the world struggled. It was hailed as world's best economic practice.
The Australian economy was ranked 3rd in 2008, 1st in 2009, 4th in 2010, 1st in 2011, 1st in 2012 and 1st in 2013. Then the Libs took over: 3rd in 2014, 9th in 2015, 13th in 2016, 18th in 2017, 21st in 2018. The national debt has more than doubled in the past six years. This government is responsible for more debt than every previous federal government combined. They take money from important social programs and cultural institutions and put it in the pockets of rich individuals and corporations. They are both corrupt and incompetent. And liars. But they have the Murdoch press and commercial television and a cowed ABC selling their lies and lying about the alternatives.
You still watching that plasma tv spook?