Overs:Unders - How long until it's all Labor's fault?

[Power Raid]

Undoing ten years of wage suppression as government policy won't be easy.

We are fortunate to have low unemployment figures but this hides the actual underemployed and the unemployable.

I would love to see more people participating in the workforce, for their sense of belonging, which should be delivered through the better integration of the dole and the minimum wage.

with globalisation and the rise of asia and africa, there is no other way to protect our most vulnerable.

 

[QuietB]

What is the point of this thread?

It is always Labor's fault

 

[greyhound punter]

1) we have had pathetic governments for 15 years regarding budget management. Not one can point the finger at the other as they now all own the deficit, which those to young to vote and those unborn will have to pay off. Or a wealth tax is introduced and the burden is carried by those that benefited the most.

2) Inflation is an international issue and domestic issues such as unbalanced budgets (and floods, fire and rail) which will sort itself out quickly unless we start increasing wages inline with inflation rather than productivity.

3) media is well established catering to their subscriber base with notable mentions the news and the guardian

4) blame should be aligned to policy action or inaction rather then time

5) why wait a month when you have subscribers to feed today?

I can't believe in this day and age I am still reading this stuff.

1) Government's that issue their own currency do not go broke. No one will be having to pay off the debt. It will be paid out to bond holders as the bonds reach maturity. Numbers will be stroked up on a keyboard and wired to the bank accounts of bond holders. It is guaranteed. Taxes or not.

2) Inflation is here to stay IMO. It is not due to pandemic supply chains. It is due to changing demographics and a decade of easy money finally flowing in the real economy. Read a book called, "The Great Demographic Reversal". Recently published.

 

[kranky al]

The productivity has to be linked

I'd bank every industry with high productivity gains has seen high wage increases

there are no doubt industries being left behind and like the car industry will close in time

How is it then, that ceo’s of companies that lose scomoloads of money still get bigger and bigger pay packets?

 

[kickazz]

How is it then, that ceo’s of companies that lose scomoloads of money still get bigger and bigger pay packets?

Because Australia is really just a more sophisticated version of an African kleptocracy.

 

[kranky al]

Because Australia is really just a more sophisticated version of an African kleptocracy.

I work for myself. Im the boss - if i want a payrise, i vote unanimously that i get one.

Nil productivity increase. I just notice that inflation is up so up goes my hourly rate.

Meanwhile down in minimum wage land :

Inflation is up, we cant survive we need a pay rise

Ceo: *said with straight face - No that would cause inflation….

*also pockets record profits

 

[Power Raid]

How is it then, that ceo’s of companies that lose scomoloads of money still get bigger and bigger pay packets?

I can't respond to a question that isn't based on an example but what I will say is I reward my staff on a variety of KPIs but rarely profit.

The KPIs are more likely to be a portfolio of:
1) safety - a gate KPI which if failed results in 100% loss of bonus subject to board discretion
2) individual KPIs - drive short term bonuses paid in cash (where they have a direct control) and represent 20-30% of base wage
3) team KPIs - a bonus paid in cash and shares representing 70-unlimited% of base wage

• delivery of project KPI on time and budget
• stretch targets

rewarding profit alone results in short term behaviours which are often not in line with the goal of the organisation

 

[Power Raid]

I work for myself. Im the boss - if i want a payrise, i vote unanimously that i get one.

Nil productivity increase. I just notice that inflation is up so up goes my hourly rate.

Meanwhile down in minimum wage land :

Inflation is up, we cant survive we need a pay rise

Ceo: *said with straight face - No that would cause inflation….

*also pockets record profits

I agree with your position here

Where I see the future is more and more people won't be worth the minimum wage due to AI and other replacing people or in itself being more cost effective. However there has and always is more work than human resources.

The solution is mobilisation and that requires a better integration of the dole and wages. To fund this, we need wealth taxes and to increase GST.

 

[Power Raid]

I can't believe in this day and age I am still reading this stuff.

1) Government's that issue their own currency do not go broke. No one will be having to pay off the debt. It will be paid out to bond holders as the bonds reach maturity. Numbers will be stroked up on a keyboard and wired to the bank accounts of bond holders. It is guaranteed. Taxes or not.

until no one wants to buy the bonds

2) Inflation is here to stay IMO. It is not due to pandemic supply chains. It is due to changing demographics and a decade of easy money finally flowing in the real economy. Read a book called, "The Great Demographic Reversal". Recently published.

inflation can only be manufactured in the medium to long term (printing money, war, covid like supply chain shocks and deglobalisation). Low inflation has and continues to be the future with deflation the real risk.

 

[Todman]

I can't believe in this day and age I am still reading this stuff.

1) Government's that issue their own currency do not go broke. No one will be having to pay off the debt. It will be paid out to bond holders as the bonds reach maturity. Numbers will be stroked up on a keyboard and wired to the bank accounts of bond holders. It is guaranteed. Taxes or not.

2) Inflation is here to stay IMO. It is not due to pandemic supply chains. It is due to changing demographics and a decade of easy money finally flowing in the real economy. Read a book called, "The Great Demographic Reversal". Recently published.

1) Think Argentina
2) It took 20 years to whip inflation last time and they were trying to reign it in. They are not even trying now.

 

[barreness]

1) Think Argentina
2) It took 20 years to whip inflation last time and they were trying to reign it in. They are not even trying now.

Argentina holds its debts mostly in USD, this is their issue.
Still not really convinced on MMT but we're all doing it until it stops working I guess.