Copied this blog off a post on MacroBusiness. Makes mention of agriculture. Going rate for agric workers in Zimbabwe is USD3/8hr day. Farms all owned by blacks so it's not a racial thing. Most labourers wk very hard cultivating crops with hoes etc.
MM
'Point of order here – there is no “REPAIRING” the damage done by lowering the dollar – when will people realise this ? Its so MADDENING in its stupidity.
The facts very, very simple – any and ALL manufacturing and services which went off shore during the high dollar will not return – end of story – period, no ifs, no buts. Once they are gone they are finished.
The infrastructure, start up, labour costs are all so exceedingly high that this can not happen. The price of land in Australia – WITH A RATE CUT ENSURING IT – is too high for a start, as is labour. Will not happen.
This is especially true not just for manufacturing but also agriculture which ploughed in thousands and thousands of hectares of fruit trees, crops, vegetable crops and other products as it was slaughtered – will not return.
We are relying on either what is already here – OR – starting new enterprises.
The idea that we are going to start new enterprises with no national broadband ESPECIALLY in services is the biggest joke in the western world.
I would dearly like to know what this revolution in exports is going to be. Perhaps call centres in Geelong?'
