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I'm not saying they're easy jobs but two weeks on one off with no expenses for the two weeks on makes for a lot of disposable income even without those salaries

by scn 16y ago

I'm not saying they're easy jobs but two weeks on one off with no expenses for the two weeks on makes for a lot of disposable income even without those salaries. Inflation remains a steady 3% with a cash rate of 4.5% way above comparable economies, with a high chance of further raises. People not in the mining industry can't expect to compete with the salaries they're earning and the high interest rates and Australian dollar are hurting households and other exports. Housing prices in Perth: http://reiwa.com.au/res/res-salesgraph-display.cfm http://reiwa.com.au/res/res-salesgraph-display.cfm Does that look sustainable?

nl 16y ago
Our rates aren't high by Australian historical standards: http://www.loansense.com.au/historical-rates.html http://www.loansense.com.au/historical-rates.html Regarding the house price graph, I think you are being misled slightly by the scale. If you magnified the 1978-1993 graph it would look very similar - a HUGE ramp up in the prices in the late 1980's, and then stagnant in the early 1990's. Compare that to how the current graph looks: HUGE ramp up in 2003-2007, and then stagnant. I agree with what you are saying about the inequalities of mining salaries and the problems with the crowding out effect. I think that contributes more to the stratification of society rather than inflation, though.