Fired miner’s 50 per cent pay cut is just start of Australian wage pain
June 15, 2015
Australian wages fell in the first quarter for the first time on record and the implications are profound.
For 20 years Australians doubled down on debt, confident that rising wages would inflate away the burden and grow their wealth. Now their luck seems to be running out..
Read more here;
https://au.pfinance.yahoo.com/money...ay-cut-is-just-start-of-australian-wage-pain/
Read that first paragraph again. This is unprecedented. And with inflation declining too the debt burden will only worsen. The RBA will be forced to slash rates towards zero moving forward. But, just like other deflating economies, it will have little affect.
A deflating housing bubble and economic recession in Australia - coupled with a continued slowdown in China - seem inevitable. Deflationary forces are now starting to grip Australia. All we can do is prepare for it, before it's too late.
