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10/02/23
14:21
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Originally posted by kacy:
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"we have only had a 15 month inflation problem" That's just the start. Do you know anyone who is talking about putting their prices down? I don't. They all say they are forced to put their prices up because of higher wages and higher input costs including energy. Things are also not getting more productive. People don't want to work. You either pay more, or no one wants the job you have on offer. They would rather downsize and/or live off welfare payments. Or, they want to be paid for staying at home while pretending that they are doing work there. Small businesses are crashing everywhere. They just shut the shop because it just ain't worth it anymore. Globalization is on the decline too. Factories are pulling out of China because of the huge risks there. When they move, they will have to pay more for their workers and charge more for their products. This is beginning to look a lot like the spiraling inflation we had in the 70s, only much worse. Everybody wants more pay because prices are going up. Prices are going up because everybody is being paid more. As history has shown, it only stops when unemployment is high and people are desperate for a job and willing to work for less.
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"As history has shown, it only stops when unemployment is high" In my opinion, the first addition to the ranks of the unemployed should be the RBA. National monetary decisions should not be taken by career public servants.