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Cost cutting hurting workers/economy, RBA, page-8

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DavoMagic

16,805 Posts.

47

23/11/17

08:59

Post #: 29043203
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Originally posted by ididwork ↑

We can't have 'high productivity' without high rents AND high wages. That is why businesses are cost-cutting and implementing automation. The solution to the RBA's 'problem' would be a recession, i.e. paycuts and unemployment - back to square one. However, there is no way they are going to raise the interest rates to create such an environment. A bout of stagflation would probably force their hand. The market is not predicting/pricing that in, though.

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Thats right, it is not workers but high rents and asset prices from the rentiers and banksters removed from competition
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