Tap out accepted. (Again) No matter. I’ll still school you after...

Tap out accepted.
(Again)
No matter. I’ll still school you after the weekend.


@Bananabender1,

Ok, Head o'Knuckles,

As expected, despite affording you ample time, you haven't been able to figure out why the numbers with which you agree are BS. (On the other hand, someone with a mere half a numerate brain would be able to know immediately that for a data set like wages, to rise by only 17.3% over a period of 42 years, is unadulterated nonsense)

So, as promised, here comes the lesson in Compounding Annual Growth One-Oh-One:

According to the Australian Bureau of Statistics, annual change in the CPI (i.e., "inflation") has averaged more than 3% over the long run [https://www.abs.gov.au/statistics/e...onsumer-price-index-australia/latest-release].

Moreover, wages have risen in real terms (i.e., at a faster rate than inflation) over time [https://www.abs.gov.au/statistics/e...on/wage-price-index-australia/latest-release]

Which means that nominally, wage growth has been in excess of 3%pa, by around 0.5% faster, so 3.5% pa.

Compounding 3.5% Compound Annual Average Growth over 42 years gives a total increase given by:

(1+0.035)^42 = 4.24, i.e., an increase of 324%.

The facts are a far, far cry from the 17% figure you unquestioningly endorsed.

(Numbers are hard, I know. To avoid further embarrassment, best leave the commenting about numbers to those who actually do understand them.)

Here endeth the lesson.

You're welcome.

.