Aurelius, that post is just too intelligent to be posted here - someone should complain. You should just keep it to yourself next time.
Unfortunately nobody cares about the social ramifications when you wipe out the middle class, or at least a proportion of it (together with lower classes). Who cares if there are more poorer people and our taxes increase to match, or that crime increases and our schools fall apart, or that more beurocracy spreads thoughout or system? While everyone wears their rose coloured glasses and watches their properties triple in price, they forget about the increases in costs of almost everything we pay for these days. I sometimes gotta wonder if anyone has actually noticed how far prices have gone,, and forget wage increases as i think they havnt come close to matching. Some foods and products have at least doubled or tripled together with council rates and levies that have also increased. Luckily I notice this very well as im out of australia often - and a lot of my friends here agree. I dont know if i should laugh or cry when i get told someone is earning a whopping '$100K' salary a year in Perth. Ummmmmmm, but havnt your prices for just about everything doubled + also ?(fuel and food in particular- which affects 100% of the population). Now the really intelligent thing with these young guns earning these salaries is that,, they just increase their spending to match -- in other words 2 steps forward, 3 steps back. I also forsee some tough times coming but instead of jamming it in everyones throat, i just keep it to myself as an opinion - now and again i throw in a rant or 2. I certainly am glad im not having to suffer and dont have yet a family to worry about. Its a shame its a lot of young familys who think they're on top of the world- debt land in oz it is indeed- just try not to let it choke you. I will watch with interest how all this plays out. Wish everybody luck.
In the meantime will hold onto my little basket of shares ;-) .
