Yet, there’s a real risk that it descends into the usual fight over shares of the economic pie in Australia rather than focusing on how to grow the pie .
Yet, unless there’s a second war, a second pandemic, plus a second lot of floods, then the bulk of risks around inflation entrenching itself in this nation will soon boil down to one simple question: will wages start to chase prices? That’s a problem. Napoleon famously said that an army marches on its stomach. Here’s my version: good policymaking – including better job and wage outcomes for Australians – marches on having good data.
That means the RBA is flying blind as it tries to raise interest rates by just enough to ward off ongoing inflation, but doing so without adding to jobless queues any more than that task requires.
Source: Loan Digest (loandigest.net)
Now we gave all those so called developing countries our technology & jobs You know, the ones that pegged their currency to the USD to make labour cheaper, have govt that own our sovereign assets, triggered Obama quantative easing & keep threatening to blow us up.
Outsourcing is good they said! Globalisation is good they said! External global Inflation
Paul Keating floated the AUD to mitigate inflationary pressures. Fat lot of good that did
Our inflation is largely driven by overseas markets after globalisation. Steel going up in September. Timber up 30% in September. Welcome to globalisation where we 'now' source our goods
people under attack
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