Just as in the eighties Australia needs to have the "recession we had to have" to bring down costs, wages and the value of the dollar to make the country competitive again both domestically and internationally. Of course this means a lot of jobs will go intially in the short term but it will be better in the long term.
It has been over 20 years since the last recession and all of this money that has poured into the country because of the mining boom and high dollar has actually been badly affected the countries competitiveness.
10 years ago there were no Australian cities in the 10 top most expensive cities to live in the world. We now have three cities in the top ten.
Go to the supermarket and if you want to buy one lime, not a couple or a bag but one and it will cost you about $2.25. How crazy is that??
